Attvest Finance Terms & Conditions

1. Payment of Total Amount Financed

The Total Amount Financed must be used to pay insurance premiums or related intermediary charges or both. Attvest Finance must pay the total amount of the Total Premium to the Intermediary or insurer. The Borrower acknowledges that payment of the Total Premium to either the Borrower’s Intermediary or insurer is a full and complete discharge of Attvest Finance’s obligations under this agreement. For the purposes of this clause, “the Borrowers Intermediary” includes, the Borrowers agent or the Borrower’s insurance broker as the context requires taking account of the facts matters, and circumstances as to how and by and through whom this agreement came into being, or such other person as nominated on the front of this agreement by Attvest Finance.

2. Total Premium by Instalments

If an insurance premium is payable by instalments, then Attvest Finance may pay the Total Premium by instalments to the intermediary or the insurer, on or before the dates due. Attvest Finance is not obliged to pay any instalments of the premium for any of the Insurances after an Event of Default occurs.

3. Preconditions to Payment of Total Premium

Prior to Attvest Finance paying the Total Premium (a) the Borrower must pay to Attvest Finance the amount of the Initial Payment, and (b) Attvest Finance must be satisfied that the policies of insurance have been issued on terms that allow Attvest Finance to exercise its rights upon the occurrence of an Event of Default (c) Attvest Finance has completed its credit approval process to confirm the creditworthiness of the Borrower. Attvest Finance may terminate this agreement and refuse to pay the Total Premium or any instalment of the Total Premium if these preconditions have not been satisfied within 7 days of acceptance.

4. Repayment

The Borrower must pay to Attvest Finance the Total Amount Financed to be repaid, which includes the Total Charges, by equal monthly instalments. The first instalment is due on the date indicated on the front of this Agreement. Subsequent instalments must be paid on the same day of each month thereafter. For the purposes of this clause “Total Charges” means the total of all interest charges made by Attvest Finance for the provision of the Total Amount Financed to the Borrower.

5. Additional Charges

Attvest Finance may demand from the Borrower an additional charge on money not paid (“Additional Charge”) when payable.
If any repayment is returned as dishonoured the Borrower will incur a dishonour fee charge for every payment returned unpaid. The Borrower may, if the law permits terminate this contract early. A termination fee will be payable in addition to any other owing monies. This cancellation fee is also payable if this contract is terminated early by Attvest Finance with our prior written consent or in accordance with your legal rights or by us pursuant to clause 7.

6. Security and Power of Attorney

To secure its obligations under this agreement and any other agreement with Attvest Finance, the Borrower

a. absolutely assigns to Attvest Finance the right to claim, demand, sue for, recover, settle and receive money payable at any time by the insurer under any of the insurances (including, without limitation, money payable on cancellation of any of the insurances or upon the occurrence of any event or circumstances covered by any of the insurances to the extent allowed by law) (“Insurance Proceeds”);

b. for valuable consideration irrevocably appoints Attvest Finance and any director, secretary or employee of Attvest Finance or any related corporation as the Borrower’s true and lawful attorney with power after the occurrence of an Event of Default to the extent allowed by law to cancel or otherwise deal with any insurances, to make, pursue and settle any claims in connection with any insurances, to receive and give receipts for Insurance Proceeds and otherwise deal with any Insurances and Insurance Proceeds as the attorney considers desirable to ensure the Borrower pays all money owing under this agreement to Attvest Finance. Upon payment of all money owing to it, Attvest Finance must reassign the rights to any Insurance Proceeds to the Borrower; and

c. for valuable consideration irrevocably appoints the intermediary and any director, secretary or employee of the Borrower’s Intermediary as the Borrower’s true and lawful attorney with power to request Attvest Finance to fund other insurance premiums and/or to renew any of the insurances on behalf of the Borrower on the same terms and conditions in these General Terms and Conditions. If Attvest Finance, in its absolute discretion, agrees to fund other insurance premiums and/or the renewal of any of the insurances, it will provide to the Borrower with the documents setting out the details of that funding and that funding will be made available by Attvest Finance to the Borrower on terms and conditions contained in that document and these General Terms and Conditions.

7. Events of Default

An Event of Default occurs if (a) the Borrower fails to make a payment to Attvest Finance when due and payable (b) a payment made by the Borrower to Attvest Finance is dishonoured on presentation (c) a policy of insurance does not provide for Attvest Finance to exercise its rights upon the happening of an Event of Default (d) a corporate Borrower becomes or may (on the granting of an application made or the passing of any resolution) become an externally administered body corporate within the meaning of the Corporations law (e) an individual Borrower commits an act of bankruptcy (f) a policy of insurance is cancelled or becomes or is claimed to be void or voidable (g) the Borrower is not able to perform its obligations under this agreement or Attvest Finance’s security under this agreement is not exercisable in the manner intended by Attvest Finance or has been or is likely to be prejudiced in some way.

8. Attvest Finance’s rights upon Event of Default

If an Event of Default occurs (a) Attvest Finance may terminate this agreement (b) the Borrower must upon demand by Attvest Finance immediately pay all money owing under this agreement (in the case of an Additional Charge, reduce to an amount which Attvest Finance determines is attributable to the period up to the date of the demand) (c) Attvest Finance may cancel or otherwise deal with any policy of insurance, the Borrower’s rights under any of the policies of insurance and any money payable to the Borrower in connection with a policy of insurance in such way as it considers desirable to protect Attvest Finance’s position and recover money owing by the Borrower under this agreement or any other agreement (d) Attvest Finance may make and pursue (by legal action or otherwise) and settle any claim under any of the policies of insurance and receive and give receipts for any money payable in connection with any of the policies of insurance (e) Attvest Finance may apply any money received from or on account of the Borrower against any of the Borrower’s indebtedness to Attvest Finance, under this agreement or any other loan or facility provided by Attvest Finance (f) Attvest Finance is not obliged to pay any premium instalment.

9. General Payment Obligations

Any amount owing to Attvest Finance under this agreement must be paid by the Borrower in full without any deduction. The Borrower waives all rights of set-off, combination or counterclaim in relation to money owing under this agreement. Without limiting the foregoing, if an event occurs or a circumstance arises entitling the Borrower to make a claim under a Policy of Insurance then nothing shall affect Attvest Finance’s (a) rights under this agreement to claim the Total Amount Financed to be Repaid or (b) ability to exercise any of its rights under this agreement (unless specifically stated otherwise).Demands and NoticesAny demand by Attvest Finance may be signed under seal, or by an officer or employee of Attvest Finance or related corporation. Attvest Finance may serve notice upon the Borrower by hand delivery, post, delivery to the Borrower’s last known facsimile number or to the email address nominated by the Borrower in its application for finance. A notice posted will be deemed received on the 3rd business day after posting. A notice sent by email will be deemed to be received immediately after sending. A notice sent by facsimile transmission will be deemed received on production of a transmission report showing the facsimile was sent to the Borrower’s facsimile number without error.

10. Demands and Notices

Any demand by Attvest may be signed under seal, or by an officer or employee of Attvest or related corporation. Attvest may serve notice upon the Borrower by hand delivery, post, delivery to the Borrower’s last known facsimile number or to the email address nominated by the Borrower in its application for finance. A notice posted will be deemed received on the 3rd business day after posting. A notice sent by email will be deemed to be received immediately after sending. A notice sent by facsimile transmission will be deemed received on production of a transmission report showing the facsimile was sent to the Borrower’s facsimile number without error.

11. Borrower’s Obligations and Waiver

Time is of the essence in relation to the performance of the Borrower’s obligations under this agreement. No waiver or period of grace will apply unless given in writing by Attvest Finance.

12. Commissions

Attvest Finance may pay a commission to the Intermediary in connection with this agreement. The Borrower consents to the payment of a commission by Attvest Finance to the intermediary in connection with this agreement. Attvest Finance is not aware of the commission arrangement between the intermediary and the insurer.

13. Completion of Blanks

The Borrower authorises Attvest Finance to complete any blanks in this document.

14. Stamp Duties and Attvest Finance’s costs

The Borrower must pay (a) all stamp duty, taxes or fees payable in connection with this agreement (whether or not disclosed in this agreement) (b) all costs, fees and interest incurred by Attvest Finance following an Event of Default.

15. Assignment

Attvest Finance may at any time assign its interest in this agreement.

16. Joint and Several Obligation and General Interpretation

Where the borrower is 2 or more persons, this agreement binds them jointly and each severally. References to the singular include the plural and vice versa. The law of New South Wales governs this agreement. The parties irrevocably and unconditionally submit to the jurisdiction of the courts of New South Wales.

17. Credit Card Fee

Credit Card payments are accepted for all instalments but a fee for Visa/MasterCard/ American Express will be charged.

18. Quotation

This quotation is valid for 15 days and approval is subject to a credit risk assessment. We reserve the right to amend the quotation if acceptance is outside the agreed terms.

19. Further Insurance and Automatic Renewal option

Unless the borrower indicates by ticking the box specified in the schedule that this clause is not applicable, then the borrower further agrees that any Intermediary specified in this Contract is authorised on behalf of the Borrower to 1) make applications to Attvest Finance for further insurance to the terms of this contract 2) to automatically renew in subsequent years any Insurance upon its expiry

20. Credit Inquiry

The borrower agrees and approve that Attvest Finance can make enquiries in relation to this loan application or to any subsequent loan applications that may be deemed required by Attvest Finance to any persons including any credit reporting agency or bank and provide these persons with details of this loan application or any matter arising from this loan or any subsequent loans.

21. Insurances

The borrower agrees that it will not (a) cancel or terminate any Insurance policy funded per this agreement without Attvest Finance’s consent (b) assign, charge or otherwise deal with its rights in any proceeds of any insurance policy from cancellation or termination thereof.