TERMS OF THE RECURRING TRANSACTION AUTHORITY
 
THIS AGREEMENT is made on the date specified in the Recurring Transaction Authority.
 
BETWEEN PAYMENT ASSIST PTY LTD (ACN 619 974 908) of 41 Wellington Street, North Hobart in Tasmania (“Payment Assist” “We/Us/Our”) of the first part
AND THE CUSTOMER identified in the Recurring Transaction Authority (“You/Your”) of the second part
 
NOW THIS AGREEMENT WITNESSETH:
 
1. ACKNOWLEDGEMENT OF DEBT
a. You acknowledge that you are indebted to us for the amount of the Facility.
 
2. REPAYMENT OF THE FACILITY
a. You will repay the Facility to us within sixty (60) days from the date of this Agreement and in accordance with clause 2.2.
b. The repayment of the Facility will be made by monthly debits from your bank account as set out in the Recurring Transaction Authority as follows:
     i. fifty per cent (50%) of the Facility thirty (30) days from the date of this Agreement; and
     ii. the remaining fifty per cent (50%) of the Facility sixty (60) days from the date of this Agreement.
 
3. THE FACILITY INTEREST FREE
a. The Facility is interest free and no interest charge is payable by you to us.
b. However, if you do not comply with the terms of this Agreement, you will have to pay to us the charges contained in clause 4.
 
4. CHARGES PAYABLE FOR BREACH OF THIS AGREEMENT 
a. If you beach any of the terms of this Agreement then you will be liable to pay to us the following charges:
     i. for any failure to meet a payment in relation to the Facility within the time required by clause 2 - $15.00;
     ii. for each communication sent to you as a result of a breach of this Agreement - $20.00;
     iii. for the issue of a Notice of Default to you - $40.00;
     iv. for a telephone call to you in respect of any breach of this Agreement - $20.00; and
     v. in relation to any breach of this Agreement any reasonable legal costs and/or disbursements that we incur enforcing any term of this Agreement.
 
5. EARLY REPAYMENT
a. If you wish to repay the Facility early, you may do so. Please notify us by email to admin@paymentassist.com.au or call us on 1300 722 255
 
6. DISCLOSURE OF PERSONAL INFORMATION AND PRIVACY POLICY
a. You agree that we may collect and use personal and credit information about you from, and disclosure it to, the following even if the disclosure is to an organisation overseas which is not subject to privacy obligations equivalent to those which apply to us:
     i. credit reporting agencies and debt collection agencies for credit checks, worthiness, standing, capacity and history;
     ii. other financial institutions and credit providers;
     iii. our agents, contractors and external advisors whom we engage from time to time to carry out or advise on our functions and activities;
     iv. regulatory bodies, government agencies, law enforcement bodies and courts;
     v. any person who introduces you to us; vi. external payment system operators;
     vii. any potential purchaser of our business. Any such disclosure will be made in confidence; and viii. any person to the extent necessary, in our view, we are required by law to do so or in order to carry out any instruction you give to us.
b. You acknowledge having read our privacy policy and agreeing to the terms of our privacy policy.
 
7. ASSIGNMENT
a. Your rights under this Agreement are personal and you cannot assign those rights.
b. We may assign and transfer this Agreement or any parts of the rights under this Agreement to any person, firm or corporation and this Agreement will be binding upon you and continue for the benefit of our assigns.
 
8. YOUR RIGHT TO REQUEST A STATEMENT OR INFORMATION
a. Should you require a paper statement in relation to the Facility, please write to us at Payment Assist Pty Ltd, 41 Wellington Street, North Hobart TAS 7000.
 
9. PAYMENT ASSIST RIGHT TO EARLY REPAYMENT
a. Notwithstanding the provisions of clause 2, we are entitled to demand immediate and full repayment of the Facility from you if:
     i. any information you provided when you applied for the Facility (including in the Recurring Transaction Authority) was false or incorrect;
     ii. you are more than fourteen (14) days overdue with any amount you owe to us; or
     iii. you become bankrupt.
b. If you fall behind on your repayments in relation to the Facility or under this Agreement generally, we may pass information about you and the amount you owe to a credit reporting agency or debt collection agency. That information may be recorded and may be used to assess any future loan or credit applications you may make.
 
10. BREACH OF AGREEMENT
a. In addition to our other rights if you breach this Agreement, you acknowledge that if you do breach the terms of this Agreement that we may:
     i. provide your details to a credit reporting agency and/or debt collection agency;
     ii. institute legal proceedings against you; and
     iii. take actions which may make it more difficult for you to obtain credit from other persons in the future.
b. If at any time you have any difficulties in making any payments due to us under this Agreement, please contact us.
 
11. COMPLAINTS
a. If you wish to make a complaint please write to us at Payment Assist Pty Ltd, 41 Wellington Street, North Hobart TAS 7000.
 
12. SEVERABILITY
a. If any part of this Agreement is found to be void, voidable, illegal or unenforceable then that part shall be severable from and shall not effect or derogate from the enforceability or validity of the rest of the Agreement.
 
13. JURISDICTION AND PROPER LAW
a. This Agreement shall be governed by and construed in accordance with the laws of Tasmania.
b. Each of the parties submit to the jurisdiction of the courts of Tasmania including all courts of appeal there too.
 
14. FURTHER ASSURANCES
a. Each party shall sign all such instruments, Agreements and documents and do all such acts, matters and things which may be reasonably necessary for the purpose of carrying out the intent and provisions of this Agreement.
 
15. BINDING AGREEMENT
a. You acknowledge and agree that this Agreement is binding on you on and from the date that you complete the Recurring Transaction Authority notwithstanding the fact that this Agreement is not signed.
 
16. DEFINITIONS AND INTERPRETATION
a. Definitions
     i. Definitions in the recital apply in this Agreement.
     ii. “Recurring Transaction Authority” means the completion of the Recurring Transaction Authority Form.
     iii. “Facility” means the amount of money you owe to us as specified in the Recurring Transaction Authority.
b. Interpretation
     i. In this Agreement, the following rules for Interpretation apply unless the contrary intention appears.
     ii. A reference to a clause, schedule annexure to a clause of, schedule to or annexure to this Agreement and reference to this Agreement include any recitals, clauses, schedules and annexures;
     iii. A reference to any party includes a reference to that party's executors, administrators, successors, substitutes (including, without limiting, persons taking by novation) and assigns;
     iv. A reference to a person includes a body corporate, an unincorporated body or any other entity; v. The recitals form part of, and are included in, the operative provisions of this Agreement;
     vi. A reference to a singular includes the plural and conversely; vii. Headings are of convenience only and do not affect interpretation; and
     viii. A reference to a gender includes all genders.
c. Counterparts
     i. This Agreement may consist of a number of counterparts and the counterparts taken together constitute one and the same instrument.