Terms and Conditions

Medium Amount Credit Contract

1. The Loan Agreement

1.1 By executing this Loan Agreement, you acknowledge and agree to borrow the specified credit amount under the conditions outlined herein. This agreement becomes legally binding upon your signature, regardless of whether funds have been disbursed or goods delivered.

1.2 We maintain the right to withdraw from this transaction if you do not fulfil any prerequisite conditions of our offer. Furthermore, this offer may be rescinded if it is not formally accepted within 14 days of the Disclosure Date, if the initial loan disbursement does not occur within 20 days of the Disclosure Date, or if, in our reasonable judgment, any circumstance arises that makes the completion of the settlement undesirable.

2. Loan Repayments

2.1 You are obliged to make all payments associated with this Loan Agreement by their respective due dates. Beyond the scheduled repayments in the Loan Schedule, you must settle the entire outstanding amount at the conclusion of the Loan Term. The Loan Term expires on the final day specified in the Schedule, or on any alternative date we mutually agree upon. The total outstanding amount encompasses all principal, accrued interest, and applicable fees and charges, including any amounts due upon final settlement.

2.2 Repayments must be made as instructed by us. You agree to sign any necessary forms we reasonably require to facilitate these repayments. All repayments must be made in full. If we have transferred our rights under this agreement (for instance, for funding or securitisation purposes), payments must be made without any deduction or offset for amounts you believe we owe you.

2.3 Should a repayment fall due on a day that is not a Business Day, the payment will be due on the next Business Day. If a repayment is due on a date that does not exist in a given month (e.g., 31st of June), the repayment will be due on the last Business Day of that month.

2.4 If you utilise direct debit for your loan repayments, you must not cancel the direct debit authorisation or close the linked account without first establishing alternative payment arrangements. If any direct debit or cheque used for a repayment is dishonoured, the repayment will be deemed not to have been made, and interest will continue to accrue on the outstanding daily balance until we receive actual payment.

2.5 We reserve the right to apply any payment you make to any amount you owe us, in any order we reasonably deem appropriate.

2.6 If you maintain multiple accounts with us and make a payment without providing written instructions on its allocation, we may apply it to one or more of your accounts as we reasonably determine.

2.7 We will not pay interest on any credit balance held in your account.

2.8 You have the option to repay the entire or a portion of the amount owing at any time. If you repay the outstanding balance in full 6 months or more before the Repayment Period ends, an Early Termination Fee may apply. Refer to the Loan Schedule for details.

3. Interest Charges

3.1 Interest on your loan will accrue daily, commencing from the Settlement Date, based on the outstanding debit balance of your loan. The daily interest rate applied is calculated by dividing the applicable annual percentage rate by 365.

3.2 Interest will be debited to your loan account monthly in arrears, typically on the monthly anniversary of the Settlement Date. If the scheduled debiting day is not a Business Day, the debit will occur on the next Business Day. If the debiting day is the 29th, 30th, or 31st of a month that does not contain that date, the debit will be made on the last Business Day of that month.

3.3 Interest debited to your loan will be added to the outstanding balance and will itself accrue interest at the same rate and in the same manner as the principal amount of your loan.

3.4 In addition to monthly interest debits, we may, acting reasonably, debit interest whenever your loan is in default, there is a repayment of the loan, a principal increase, a variation to your Loan Agreement, or a change to the loan terms.

4. Fees and Charges

4.1 You are responsible for paying all fees and charges that become payable under this Loan Agreement.

4.2 If a fee or charge is payable directly to us, you authorise us to debit your loan account for the relevant amount.

4.3 If a fee or charge is payable to a third party (e.g., an insurer), you authorise us to debit your loan account for that amount and remit it to the relevant third party.

5. Events of Default

You will be in default under this Loan Agreement if any of the following occur. We may, acting reasonably, determine that a default has occurred:

(a) You fail to make any payment by its due date.
(b) Any representation or statement made by you to us or our agents proves to be untrue or misleading in a material way.
(c) You die, become bankrupt, enter into any form of administration, or are jailed.
(d) You breach any material undertaking provided to us at any time.
(e) If you are a company: (i) There is any change in the ownership or control of your company, or any subsidiary company of yours. (ii) A receiver and/or manager, administrator, controller, provisional liquidator, or liquidator is appointed to any part of your assets. (iii) Any action is initiated to strike your company’s name off any register of companies. (iv) Your company reduces or proposes to reduce its authorised capital.

Unless specified otherwise (such as for events in paragraphs (a) and (c)), an event listed above will only constitute a default if it is inherently material, or if we reasonably consider that the event has had or is likely to have a material adverse impact on:

Your ability to fulfil your financial obligations to us.
(In the case of paragraph (c)) Our legal or reputational risk.

6. Our Rights on Default

If you are in default, we can, subject to any applicable law (including notice requirements), take any of the actions listed below. Our failure to promptly exercise any right or forgive any default does not constitute a waiver unless expressly stated by us in writing.

(a) Demand and require immediate payment of any money due under this Loan Agreement.
(b) Declare the entire loan immediately due and payable, requiring payment of the total amount outstanding under this Loan Agreement.
(c) Exercise any right, power, or privilege conferred by law under this Loan Agreement.
(d) Terminate this Loan Agreement.

We are generally required to provide a default notice in accordance with the National Credit Code, allowing you at least 30 days to remedy the default before taking most of these actions. However, a notice may not be required if:
(a) We reasonably believe we were induced by fraud on your part to enter into this credit contract.
(b) We have made reasonable attempts to locate you without success.
(c) A court authorises us to commence enforcement proceedings.

Acting reasonably, we can take action even if we do not do so immediately after the default occurs, provided the default remains unrectified.

7. Enforcement Expenses

7.1 Enforcement expenses may become payable under this Loan Agreement if you are in default. We may, acting reasonably, debit your account with our reasonable costs incurred in connection with any exercise or non-exercise of rights arising from a default. This includes reasonable legal costs and expenses on a full indemnity basis, or solicitor and own client basis, whichever is higher.

7.2 You must pay these costs on demand. These costs will not exceed our reasonable enforcement costs, including internal costs. Enforcement expenses can encompass a range of costs such as mercantile agency fees, legal fees, fees for settling a repairer’s lien over mortgaged goods, costs associated with taking possession, preserving, and auctioning mortgaged goods, and the reasonable costs we incur using our staff and facilities, along with any government charges, fees, taxes, or duties related to those expenses.

8. Variations to This Contract

8.1 We may, acting reasonably and subject to Clause 8.2, vary any term of this Loan Agreement, including altering credit fees or charges, and repayment amounts. We may also introduce new credit fees or charges. You will receive at least 20 days’ written notice of any such change, unless the change reduces your obligations or extends your payment time under the Loan Contract. We may provide notice of changes to credit fees and charges (including new ones) by publishing such notice in a national newspaper. You may not be specifically notified of changes that reduce your obligations or extend your payment time.

8.2 We are prohibited from changing the Annual Percentage Rate or increasing/altering the calculation method of any fee or charge in a way that increases a fee or charge payable by you upon early termination or prepayment of an amount under this Loan Contract.

8.3 Subject to Clause 8.1, we can change any term of this Contract without your consent: (a) To accommodate a change in law, regulatory guidance, or decision by a regulator, similar authority, external dispute resolution scheme, or court.
(b) Where, in our reasonable opinion, the change is necessary or appropriate to protect us, you, or any other person from fraudulent or illegal activity, to enhance the security of the product, or to prudently manage a material credit, operational, or compliance risk.
(c) To accommodate a change in business or operational systems or processes, payment methods, technology, or other communication methods, or to migrate the product to a new system.
(d) To make any other change that is reasonably necessary to protect our legitimate business interests.

9. General Matters

9.1 Governing Law and Interpretation: This Loan Agreement is governed by the laws of the Australian state or territory in which the borrower resides, unless we agree otherwise. If any provision of this Contract is invalid or breaches the Law, in whole or in part, that provision will be severed, and the remaining provisions of this Contract will remain in full force and effect. We encourage you to obtain independent legal and financial advice.

9.2 Dealing with This Loan Agreement: We may assign, novate, or otherwise deal with our rights and obligations under this Loan Agreement in any way we reasonably choose. We may, acting reasonably, disclose personal and credit information about you in connection with any such dealing. You must sign any documents and perform any actions we reasonably require to enable any dealing with this Loan Agreement. Any dealing with our rights does not alter your obligations under this agreement.

9.3 Consumer Legislation: To the extent that this Loan Agreement is regulated by consumer legislation (such as the National Credit Code), any provisions that do not comply with that legislation have no effect. To the necessary extent, this Loan Agreement is to be read so that it does not impose obligations prohibited by that legislation.

9.4 Notices and Communications:
(a) How We May Give You Notice: We may give you a notice or communicate in writing to you by personal delivery, prepaid ordinary post, facsimile, or email sent to your address shown on your Loan Agreement, your registered office (if you are a company), or your last known address. We may also provide notice in any other manner permitted by law. The notice may be signed by any employee, solicitor, or agent on our behalf.
(b) Electronic Communication: If you have provided an email address in the Loan Schedule, you consent to us sending you notices, information, or documents electronically, and we are not required to provide paper copies. You should regularly check your emails for any notices we may send. You are free to revoke your consent at any time by notifying us in writing.
(c) When Documents are Received: A document or communication is deemed given to you: if given personally, when received by you; if left at your address, when left; if posted, when it would be delivered in the ordinary course of post; or if sent electronically, on the date it bears or the date it is received at your Nominated Email Address, whichever is later.
(d) How You Must Give Us Notice: If you need to provide us with a document or communicate in writing, you must do so by posting it via ordinary mail in a prepaid envelope to our office address as shown in the Loan Schedule (unless we advise an alternative address); delivering it to, or serving it on (for court documents) one of our employees at our office; or emailing it to our designated email address or any other email address we provide.
(e) Cancelling Electronic Communication: You may cancel your authorisation to receive documents electronically at any time by notifying us in writing.

9.5 Updated Details: You must promptly inform us if you change your residential, postal, or email address, or if there is any information you believe we should be aware of regarding your ability to comply with your Loan Agreement.

9.6 Joint Borrowers: If there are two or more borrowers, each of you is individually liable, and all of you are jointly liable. This means we may pursue any one of you for the entire amount you owe us. References to a “person” include companies, trusts, and any other type of entity. You agree that each borrower can bind every other borrower. WARNING: This implies that any one of you may be required to repay the full amount, even if you have internal arrangements or do not all benefit equally.

9.7 Financial Difficulties: You should notify us as soon as possible if you anticipate or experience difficulties in making repayments so that we can work with you to explore potential solutions.

9.8 Counterparts: This Contract may be executed in any number of counterparts. If signed in counterparts, each counterpart constitutes an original, and together they form one and the same document.

10. Internal Dispute Resolution

We aim to provide excellent service. However, if you have any complaints, you should notify our Resolutions Team immediately. You can reach them by:

Telephone: 02 8551 4335
Website: www.gustocash.com.au/feedback
Email: feedback@gustocash.com.au
Writing to: c/o Resolutions Team, 1130 Kingsford Smith Dr, Eagle Farm, QLD 4009,

or by speaking to any representative of our business who will make every effort to resolve your issue promptly. Please explain your complaint clearly, either verbally or in writing. Upon receiving a complaint, we will endeavour to resolve it swiftly to prevent unnecessary escalation of minor issues. If you remain dissatisfied with the outcome, you retain the right to escalate your dispute to our external disputes resolution scheme or to a court.

11. Definitions and Interpretation

11.1 In this document, unless the context otherwise requires:
(a) A reference to the singular includes the plural and vice versa.
(b) A reference to a document includes any variation or replacement of it.
(c) Headings in this agreement are for convenience of reference only and do not affect interpretation.
(d) References to contracts, procedures, and laws include amendments made to them from time to time.
(e) References to a party to this Contract include that party’s executors, administrators, successors, and assignees.

11.2 Definitions:

Amount of Credit: The total credit amount provided to you under this Loan Agreement, as specified in the Loan Schedule.
Annual Percentage Rate: The annual interest rate applicable to your loan, as stated in the Loan Schedule.
Business Day: A day that banks are open for business in Brisbane, Queensland, and is not a Saturday, Sunday, or a public holiday.
Disclosure Date: The date on which key information about your loan was provided to you.
Documents: Includes all documents and notices relating to this Contract that may be provided Electronically.
Electronic Communication or Electronically: The electronic communication of information in the form of data, text and images, including email from us to you which you can retain or later reference (e.g., by printing or storing for later display).
Early Termination Fee: A fee payable if you repay the loan in full 6 months or more before the Repayment Period ends, as specified in the Loan Schedule.
Law: Any legislation that applies to consumer credit in Australia.
Loan Agreement: This medium amount credit contract, including the Loan Schedule and any other attached documents.
Loan Schedule: The document accompanying this Loan Agreement that sets out specific details of your loan, such as the Amount of Credit, Loan Term, Repayment Period, and fees.
Loan Term: The period over which the loan is to be repaid, as specified in the Loan Schedule.
National Credit Code: Schedule 1 to the National Consumer Credit Protection Act 2009 (Cth).
Nominated Email Address: The email address you provided when applying for the loan, or as specified in the Loan Schedule, or as otherwise notified by you from time to time.
Repayment Period: The period over which your loan is to be repaid, as specified in the Loan Schedule.
We, Us, Our: Refers to Gusto Money Pty Ltd, trading as Gusto Cash.
You, Your: Refers to the borrower(s) named in the Loan Agreement.