Please read all of the information below carefully as it includes disclosures we need to make to you and sets out some of the important terms and conditions you will be agreeing to if you decide to apply for credit through Brokers Mutual Acceptance Pty Ltd.
Privacy Statement
If you engage Brokers Mutual Acceptance Pty Ltd (BMA) to assist you to apply for credit, we will need to ask you to provide us with information of a personal nature in relation to your financial affairs.
Brokers Mutual Acceptance Pty Ltd Website
The information contained and accessed on this site is provided by BMA for general guidance and is intended to offer the user general information of interest only. Please read the information below carefully as it refers to the type of terms and conditions that you will be required to agree to should you choose to engage us to assist you to obtain credit? This is provided for information purposes only at this stage to enable you to review and consider the terms you will be agreeing to should you choose to proceed. If you do not fully understand the terms and conditions you should obtain independent legal and financial advice before you agree to formally engage us to assist you.
Privacy Act 2013 Authorisation
Under the terms of the Privacy Act 2013 (Act), I understand that BMA, T/A’s 13004finance, as well as its agents, associates, related entities, as credit assistance provider, will need to make disclosures to me and obtain authorisations from me before my application is processed. The authorisations relate to information that can be obtained before, during or after the provision of the credit to me. In accordance with the terms of the Act, I hereby authorise BMA, T/A’s 13004finance, as well as its agents, associates, related entities and any credit providers to whom my credit application may be referred (Credit Participants):
To give a credit reporting agency certain information about me and my application for credit in order to obtain a credit report about me. This information can include:
1. my name;
2. my address;
3. my date of birth;
4. my drivers license number; and
5. the fact that I have applied for credit and the amount applied for.
To obtain a credit report about me from a credit reporting agency to assess my application and my creditworthiness, or in connection with the collection of overdue payments, and I give my consent for them to do so.
To give and seek information from any of the Credit Participants’ financiers, or any credit providers or referees named in my application or in any credit report about me, information about my creditworthiness, credit standing, credit history or credit capacity as permitted under the Act. The information can be exchanged for any one of the following purposes:
1. to assess my application;
2. to notify other credit providers of a default by me;
3. to advise other credit providers of the status of this loan in circumstances where I am in default with other credit providers; or
4. to assess my creditworthiness.
To use my personal information for marketing, planning and product development purposes by the Credit Participants, their related companies, business and organisations or unrelated marketing organisations conducting marketing activities on their behalf. This authorisation applies regardless of whether my application for consumer credit is approved by a credit provider.
You can request a copy of BMA’s, Privacy Policy or obtain access to update your personal information by writing to: The Privacy Officer, PO Box 680 Narellan NSW 2567.
Electronic Transactions Act 1999 Authorisation and Consent
I understand that if I consent to the Credit Provider providing Materials to me electronically:
I acknowledge that:
• I am applying for credit (Credit) subject to the National Consumer Credit Code (Code);
• I wish to engage BMA as my broker (credit assistance provider) for the purposes of sourcing Credit on terms to be set out in a written finance quote (Credit Quote);
• Subject to the responsible lending and other obligations imposed on BMA by the Code, my application for Credit will be referred to a Credit Provider;
• Subject to the responsible lending and other obligations imposed on a Credit Provider by the Code, my application for Credit may be approved by a Credit Provider on terms to be set out in a written agreement (Credit Contract);
• I am aware that I have the right to obtain independent legal and financial advice prior to entering into a Credit Contract.
I hereby consent to:
• The Credit Contract and any related materials and information (Materials) being provided, or otherwise made available, to me electronically under the Electronic Transactions Act 1999 (Act);
I understand that if I consent to the Credit Provider providing Materials to me electronically:
• Paper documents may no longer be provided to me;
• I must regularly check my nominated email account for documents from the Credit Provider;
• I may at any time withdraw consent for the Credit Provider to provide documents electronically.
Borrowers’ Obligations
The borrower is expected to read any credit contract carefully before signing the document to ensure they fully understand all terms and conditions of the loan.
The borrower should carefully check the credit contract to ensure that the terms are suitable and do not vary from that which the borrower requires. If they do, the borrower must inform BMA and the credit provider immediately.
If the borrower is refinancing a loan and the borrower’s commitments will be increased, the borrower should seek independent financial advice to make sure that they are able to meet the increased commitments. Please note, the borrower’s regular payments may not increase, but the total to be paid may increase, for example, by having to make repayments over a longer period.
BMA’s Obligations
•BMA must discharge the responsible lending obligations imposed on it by the Act.
•BMA cannot provide legal or financial advice. Accordingly, the borrower must ensure they understand their legal obligations under this agreement and any credit contract entered into. If the borrower has any doubts, the borrower should obtain independent legal and financial advice before entering into this agreement or a credit contract.
•BMA will endeavour to secure credit on the terms and conditions requested but cannot guarantee that a credit provider will offer to enter into a credit contract on those terms. Nevertheless,
•BMA will have discharged its obligations under this agreement and be eligible for payment of its fees in circumstances where the borrower enters into a credit contract even though the terms may differ from those requested.
Prior to submitting an application to Brokers Mutual you will be asked to confirm that you have read, understood and agree to these terms and conditions. By clicking the check box – Terms and Conditions + Privacy Consents you will be agreeing to these terms and conditions. You will also be agreeing to the matters set out below, and to signing this document under the Electronic Transactions Act 1999:
• I agree to engage BMA on the terms set out above;
• I agree that BMA and any credit provider may collect and use my personal information in accordance with the Privacy Act 2013 authorisation above;
• I agree that I have had any queries concerning my required loan, and the contents of this agreement, satisfactorily answered by one or more representatives of BMA;
• I agree that prior to signing this agreement I have obtained, or had reasonable opportunity to obtain, independent legal and financial advice;
• I agree that this document constitutes a legal contract between myself and BMA as though I had signed it by hand;
• I agree that I have read and understood all of the information appearing above including that in relation to the Privacy Act 2013 and Electronic Transactions Act 1999.
By clicking on the check box – Terms and Conditions + Privacy Consents you will also be acknowledging and agreeing that you have read and understood the terms and conditions and agree to be bound by it. You will also be accepting the quote provided by BMA and providing the authorisations and consents required under the Privacy Act 2013 and Electronic Transactions Act 1999 disclosures set out above.
If you do not understand or agree with any of the matters or agreements set out above you should NOT click the check box – Terms and Conditions + Privacy Consents.
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