- Access Authority means an authorisation granted to a Registered User or Authorised Person by the owner of an account at the time of making an application to become a Member of the Platform.
- Account means an account accessible by a Registered User of the Platform, and which allows the Registered User to make investment orders and give other instructions on behalf of the Member.
- Account Holder means the person(s) or entity in whose name a Member account is established on the Platform.
- ADI means an authorised deposit-taking institution within the meaning of the Banking Act 1959 (Cth).
- AFSL means Australian Financial Services Licence.
- AML/CTF Laws or AML/CTF Legislation means the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and subordinate regulations as amended from time to time, and includes guidelines and publications produced by the Australian Transaction Reports and Analysis Centre (or successor organisation) from time to time.
- ASIC means the Australian Securities and Investments Commission or any regulatory body which replaces it or performs its functions.
- Ancillary Documents means constitutions and related trust deeds of the Borrower and Bare Trustee, any contract for the acquisition of the Mortgaged Property by the Bare Trustee, the valuation of the Mortgaged Property, third party certifications and resolutions and other documents provided by the Credit Provider in connection with a Loan other than Loan Documents and Searches.
- Applicant means any person(s) or entity applying to become a Member.
- Application means the completion of an online application form by a Registered User to open an Account on behalf of an Applicant for the Services.
- Authorised Person means a person who has the legal capacity and authority to make an Application on behalf of an Applicant and to provide instructions on an Account.
- Bare Trustee means the person acting as bare trustee for the Borrower in connection with a Loan.
- Borrower means any person that borrows or applies to borrow using the Platform.
- Cash Holding Account means an interest in one or more particular liquid cash investments that the Trustee may require from time to time to be held as a transaction account as part of each Portfolio Account.
- Cash Holding Account Interest means, in respect of an Investor, the portion of the Cash Holding Account determined by the Trustee to be attributable to the Investor.
- Complaint an expression of dissatisfaction made to LendEx, related to its Services, or the complaints handling process itself, where a response or resolution is explicitly or implicitly expected, and includes a complaint for the purposes of Australian Standard ISO 10002-2006 as amended or replaced from time to time.
Confidential Information means, in relation to the person who discloses the information (being either us or you as the context requires, and for the purposes of this definition, referred to as the “Discloser”), means any information which is disclosed in any form, by the Discloser and which:
- is by its nature confidential;
- is designated as confidential by the Discloser;
- the recipient knows or ought to know is confidential;
- which is publicly known;
- which is disclosed to the other party without restriction by a third party (other than the Discloser) and without any breach of confidentiality by that third party; or
- which is developed independently by other party without reliance on any of the confidential information.
- Constitution means the constitution of the Fund.
- Corporations Act means the Corporations Act 2001 (Cth), and a reference to the Corporations Act or a provision of it includes a reference to the Corporations Act or that provision as modified by any applicable ASIC Relief.
- Credit Provider means LendEx RE Limited ACN 168 531 851, the lender of record for all loans originated to Borrowers using the Services.
- Costs includes costs, charges and expenses including those in connection with legal advisers.
- the data supplied, uploaded or derived in connection with the use of the Website, Platform or Services, including in relation to an Account; or
- data which is in, or used in, aggregate and de-identified form (including data in that form which is derived from data in the first limb of this definition).
- Disclosure Document means an offer document, or a group of documents, that contains information about a financial product including any significant benefits and risks, the cost of the financial product and the fees and charges that LendEx may receive.
- Documents means Ancillary Documents, Loan Documents and Searches.
- Electronic Equipment means any electronic equipment or device including a telephone, electronic terminal, computer, tablet or mobile telephone.
Encumbrance means, in relation to any property:
- a security interest over the property;
- a profit à prendre, easement or restrictive covenant affecting the property;
- a caveat, writ of execution or monetary claim affecting the property;
- a lease or licence in respect of the property;
- an estate, interest, claim or arrangement affecting the property;
- a contract of sale or option to purchase or acquire the property; or
- an agreement to grant, create, allow or register any of these,
- Encumber means to create an Encumbrance or allow an Encumbrance to exist.
- Fees means our fees, charges, and taxes for the provision and use of the Services as specified in the Information Memorandum of the LendEx Lending Fund or on our Website or as otherwise notified to you in writing.
- Financial Product means a facility through which, or through the acquisition of which, a person makes a financial investment or manages financial risk.
- Fund means the managed investment scheme known as the LendEx Lending Fund of which (a) LendEx RE Limited ACN 168 531 851 holder of AFSL number: 477 371 is the Trustee; and (b) Perpetual Corporate Trust Limited ABN 99 000 341 533 acts as custodian; and (c) LendEx Holdings Pty Ltd ACN 103 230 655 is the Investment Manager of the LendEx Lending Fund and Platform Manager of the LendEx Origination Trust; and (d) P.T. Limited ABN 67 004 454 666 acts as security trustee for the LendEx Origination Trust.
- Guarantee means the guarantee and indemnity given to the Credit Provider by the Bare Trustee in connection with a Loan.
- Information means information including (but not limited to) legislative updates, news, updates, reports, analyses, product updates, data and research materials as provided by an Information Provider from time to time.
- Information Providers means LendEx and independent providers of reports, news and research services.
Insolvency Event means:
- in relation to any corporation:
- its liquidation;
- an external administrator is appointed in respect of the corporation or any of its property;
- the corporation ceases or threatens to cease to carry on its business;
- the corporation being deemed to be, or stating that it is, unable to pay its debts when they fall due;
- any other ground for liquidation or the appointment of an external administrator occurs in relation to the corporation;
- the corporation resolves to enter into liquidation; or
- an application being made which is not dismissed or withdrawn within ten Business Days for an order, resolution being passed or proposed, a meeting being convened or any other action being taken to cause or consider anything described above;
- in relation to an individual, that person becoming an insolvent under administration as defined in section 9 of the Corporations Act 2001 (Cth); and
- in relation to any person, anything analogous to or having a similar effect to anything described above in this definition under the law of any relevant jurisdiction.
- Instruction means any instruction made by You to LendEx from time to time.
- Intellectual Property means all intellectual property rights including current and future registered and unregistered rights in respect of copyright, designs, circuit layouts, trademarks, trade secrets, know-how, confidential information, patents, invention and discoveries and all other intellectual property as defined in article 2 of the convention establishing the World Intellectual Property Organisation 1967.
- Investment means any investment that an Investor invests in, or applies to invest in, through the Fund.
- Investment Order means an instruction made by an Investor to invest funds.
- Investor means any person that invests, or applies to invest, through the Fund using the Platform.
- Joint Investor means a person that jointly invests, or applies to invest, through the Fund using the Platform, who is either the de-facto of, or married to, the other Investor.
- Legal Services means the review of the Documents and the completion of details in the Mortgage to ensure registrability and to enable the LendEx Lawyers to provide a qualified legal opinion to the Credit Provider as to proper completion, execution and enforceability of the Loan Documents, attending to arrange settlement of the Loan and registration of the Mortgage and any related, incidental or additional legal services provided to the Credit Provider from time to time in connection with an Investment or a Loan.
- LendEx, we, us or our means all or any of LendEx RE Limited ACN 168 531 851 and LendEx Holdings Pty Ltd ACN 103 230 655.
- LendEx Lending Fund means the unregistered managed investment scheme constituted under or governed by the Constitution.
- LendEx Lawyers means HopgoodGanim Lawyers and any other lawyers engaged by LendEx from time to time to provide the Legal Services.
- LendEx Parties means LendEx and all Related Bodies Corporate of LendEx, their directors, employees, agents, consultants and representatives (including its valuers and the LendEx Lawyers).
- Linked Account means an account in the same name as the name in which you have applied for the Services and with a financial institution approved by us.
- Loan means any loan provided, or requested, in connection with the Website, the Platform or the Services pursuant to a Loan Agreement.
- Loan Agreement means the loan agreement between a Borrower and the Credit Provider.
- Loan Documents means the Loan Agreement, the Guarantee and the Mortgage.
- Login Details means the User ID provided by LendEx and the confidential password and preferred security question and answer selected by the Registered User.
- Member means any person who has made an Application to become an Investor or Borrower using the Platform.
- Member Area means the areas of the Website which are only accessible to a Registered User, including Investor and Borrower dashboards.
- MIN see User ID
- Mortgage means a first-ranking legal mortgage of the Mortgaged Property.
- Mortgaged Property means the real property to be held by the Bare Trustee as trustee for the Borrower and which is to be taken as security for the repayment of the Loan.
- Note Investment means an investment by the Fund in a note or other financial product that gives the Fund exposure to an underlying loan.
- Owner means the Account Holder.
- Password means a confidential combination of numbers, letters and symbols you select to identify yourself that you must provide each time you access the Platform and Services.
- Personal Information has the meaning given in the Privacy Act.
- Personal Security Verification Questions means the questions and answers that you may be required to choose, and provide answers to when prompted, to help us confirm that you are the person accessing the Platform or Services.
- Portfolio Account means the trust account established separately in respect of each Investor of the Fund.
- Portfolio Assets for an Investor means all assets that an Investor requests the Trustee to manage and administer, including the Investor’s Cash Holding Account Interest, that are held on trust by the Trustee absolutely for an Investor in a Portfolio Account.
- Primary Contact means a person who holds the legal capacity and authority to make an Application on behalf of an Applicant and to access all roles on the Applicant / Member’s behalf.
- Privacy Act means the Privacy Act 1988 (Cth).
Proscribed Person means a person who appears to LendEx either to:
- be a proscribed person or entity under the Charter of the United Nations Act 1945 (Cth);
- appear in a list of persons with whom dealings are proscribed by the government or a regulatory authority of any jurisdiction;
- be in breach of the laws of any jurisdiction relating to money laundering or counter-terrorism; or
- act on behalf of, or for the benefit of, a person listed in subclauses (a)–(c) of this definition.
- Registered User means a person who is registered as the Primary Contact or Authorised Person of the Account Holder, or any other person authorised by the Account Holder to operate on an Account.
- Related Bodies Corporate has the meaning given to that term in the Corporations Act 2001 (Cth).
- Report means all legal, valuation and other due diligence or similar reports, opinions, certificates or information in respect of any Investment, Borrower, Bare Trustee, Mortgaged Property or Loan (or summaries of any of them), made available through the Website or the Platform.
- Searches means ASIC searches of the Borrower and Bare Trustee and a land registry search of the Mortgaged Property.
- Services mean all or any of the services comprised in, or offered via, the Platform, the Website and Fund, or provided by LendEx from time to time.
- Service Provider means each third party service provider whose services we use to provide the Services to you or any person appointed by us to fulfil certain of our obligations.
- SMS means the telecommunications "short message service" technology which may allow text messages to be sent to your mobile phone.
- the fitness for purpose or merchantability of the Services;
- the contents of or any reliance on any Report;
- any aspect of the Legal Services;
- a fine or penalty arising due to your contravention (or alleged contravention) of Law; or
- an Investment or a Loan.
- Trustee means LendEx RE Limited ACN 168 531 851 holder of AFSL number: 477 371.
- Unauthorised Transaction means an instruction, investment order or transaction made through our Platform without your User Credentials having been presented.
- User Credentials means any one or more of your member identification number (MIN), Password, Personal Security Verification Questions and any other code we provide to you (or permit you to choose) from time to time, that enables you to gain access to the Platform or our Services.
- User ID means the member identification number (MIN) we provide to you as a Registered User to enable you to access our Services.
- Website means the Platform website, which can be found at lendex.com.au, or such other location as we nominate from time to time and includes its sub-domains.
- Wholesale Client has the meaning given in Chapter 7 of the Corporations Act.
- You, you, your, yourself refers (as the context requires) to all or any of an Investor, a Borrower and any person(s) acting through or on behalf of any of them.
The lendex.com.au website (Website) is owned by LendEx. It is operated by LendEx RE Limited ACN 168 531 851 and LendEx Holdings Pty Ltd ACN 103 230 655 (referred to collectively as LendEx, we, us, our), and is comprised of this Website, software systems and applications (hereinafter referred to as the LendEx Lending Platform (Platform), which facilitates peer to peer marketplace lending transactions between Members that invest or apply to invest (Investors) through the LendEx Lending Fund (Fund) and Members that borrow or apply to borrow using the Platform (Borrowers).
LendEx RE Limited ACN 168 531 851 holder of Australian Financial Services licence (AFSL) number: 477 371 is the Trustee for the Fund.
LendEx Holdings Pty Ltd ACN 103 230 655 is an authorised representative of LendEx RE Limited and is the manager of the Fund and operator of the Platform.
LendEx RE Limited ACN 168 531 851 is the lender of record for all loans originated to Borrowers using the Platform (Credit Provider).
Perpetual Corporate Trust Limited ABN 99 000 341 533 acts as custodian (Custodian) of the Fund and P.T. Limited ABN 67 004 454 666 acts as security trustee for the LendEx Origination Trust.
- this Introduction section;
- the Registration and Eligibility section;
- the General Terms section; and
Australian Citizens or Permanent Residents Only
This Website and Services are not intended to be accessed in any place in which, or by any person to whom, it would not be lawful. The access of this Website and the Services provided in places outside Australia may be restricted by the laws of places where it is distributed and persons who access this Website and the Services should observe those restrictions. Failure to comply with relevant restrictions may violate those laws. Specifically, this Website and the Services are directed only at persons outside the United Kingdom and the United States of America and must not be acted upon by persons in the United Kingdom and the United States of America, except those persons to whom this Website and the Services may be directed at or who may act upon it as permitted by law or regulation.
No Investment Advice Provided to You
This Website is for informational purposes only and does not purport to give investment advice. The Website does not take into account the investment objectives, financial situation and particular needs of any potential investor and the Information on it should not be relied upon as a substitute for financial or other professional advice. Therefore, before acting on the Information contained on this Website, potential investors should consider the appropriateness of the Information having regard to their investment objectives, financial situation and particular needs.
Except where disclosure documents are included on the Website, the Information is not intended as an offer or solicitation, or as the basis for any contract, for the purchase or sale of any financial product. LendEx RE Limited ACN 168 531 851 holder of AFSL number: 477 371 is the issuer of the LendEx Lending Fund (Fund) an Australian unregistered managed investment scheme (MIS).
A person should consider the relevant Offer Document in deciding whether to acquire, or to continue to hold, units in the Fund.
Accuracy and Reliability of Information
The Information on this site is provided in good faith and is based on current laws and their interpretation, including taxation laws. The application of many laws, including taxation laws, depends upon a person or entity’s specific circumstances. You should, therefore, consider seeking professional advice on the financial, legal and taxation implications of investing or borrowing using the Platform and should not rely on the information provided, which should be used as a guide only.
The Information has been derived from sources believed to be reliable and accurate at the date indicated. However, LendEx has not verified the Information, which may not be complete or accurate for Your purposes. LendEx may not, and has no obligation to, update the Information or correct any inaccuracy which subsequently becomes apparent. Opinions and estimates in the Information may be changed or withdrawn without notice. Accordingly, LendEx, its directors, officers or employees do not make any representation or warranty of reliability, completeness, fitness for purpose or accuracy of the Information or any third-party website linked to the Platform.
Much of the Information is assembled from material prepared by LendEx but the Information may not include information made known to LendEx’s directors, officers or employees subsequent to the date of publication of the Information indicated on the Website. If You use the Information, You do so at Your own risk and You should consult LendEx as to whether or not more recent information is available which will affect Your investment decision. The Website may provide information, articles and material, or links to such, that are written or prepared by people who are not associated with LendEx. This material is only provided for Your interest and convenience. LendEx is not responsible for the content or accuracy of this material and any opinion expressed in the material should not be taken as an endorsement, recommendation or opinion of LendEx.
Performance Figures and Interest Rates
Past performance is not a reliable indicator of future performance. Neither LendEx nor any of its directors, officers, employees or associates guarantees or make any representation as to the performance of individual asset backed securities (Notes) of the Fund. Rates of return are specific to individual Notes and are dependent on the performance of the underlying registered first mortgage (Loan) by the obligor (Borrower). Investments in the Fund are subject to investment and other risks. This could involve delays in repayments, the loss of income and/or the loss of capital invested.
Links to Other Websites
Should You leave this Website via a link contained within this Website, and view content that is not provided by a LendEx company, including content in relation to the issue or sale of a financial product:
- You do so at Your own risk. The content to which You link will not have been produced, checked for accuracy, or otherwise reviewed by a LendEx company. No LendEx company is responsible for damages or losses caused by any delays, defects or omissions that may exist in the services, Information or other content provided in such website, whether actual, alleged, consequential or otherwise. No LendEx company makes any guarantees or representations as to, and shall have no liability for, any electronic content delivered by any third party;
- links to other websites are provided for convenience only and do not represent any endorsement by LendEx of the products or services offered by the website owner; and
- LendEx excludes liability to the extent possible at law in relation to any errors, omissions or misstatements on any third-party websites linked to this Website.
No reliance on Reports
All valuation and other due diligence information in respect of any Investment, including valuation reports and legal due diligence reports (or summaries of any of them), made available through the Platform (each a “Report”) is prepared by the relevant service provider solely for the benefit of the addressee of such report (being LendEx), and not for You. As a consequence, You are not entitled to rely on any Report and are not owed any obligations or duties (fiduciary or otherwise) by the issuer of any Report.
Exclusion of Liability
Anti-money laundering and sanctions
We may delay, block or refuse to process any instruction if we suspect that it:
- may breach any laws in any country;
- involves any person that is sanctioned or connected, directly or indirectly, to any person that is sanctioned under economic and trade sanctions imposed by Australia or any other country; or
- may directly or indirectly involve the proceeds of, or be applied for the purposes of, unlawful conduct.
We may give immediate notice to suspend or terminate the Services without incurring any liability.
You must provide us with all information and documentation we reasonably require in order to:
- confirm Your identity;
- manage anti-money laundering or counter-terrorism financing and economic and trade sanctions risk; and
- to comply with any laws in Australia or any other country You authorise the use and disclosure of any information provided by You to us or concerning You to:
- any law enforcement, regulatory agency or court if required by law; and
- any external agency we may use for electronic verification of Your identity.
Electronic communications & electronic signatures
You consent to us giving You any terms and conditions, any disclosure documents (including Financial Service Guides and Offer Documents), and any updates and supplements to the disclosure documents by electronic means by email to the email address or mobile phone number last notified by You, or via the Member Area of our Platform.
You agree to communicate with us and to receiving electronic documents, email delivery documents, and electronic signatures in any transactions involving You and LendEx and other parties, and electronic signatures in any real estate transactions involving You and other parties electronically via email and through the Member Area of our Platform, as well as through other means such as SMS and phone, so that we may provide You with information about the Services and Your Account.
You can choose not to consent to this, by not selecting the relevant check-box of the user registration, borrower or investor application forms, but this will mean that we may be unable to provide the Services.
Your Tax File Number (TFN) and Australian Business Number (ABN)
Accounts earning interest in a tax year (such as Your Cash Holding Account if an Investor) may be subject to Tax File Number (TFN) legislation. You are not required by the law to provide Your TFN, Australian Business Number (ABN) or advise us that You are eligible for an exemption from providing Your TFN or ABN. However, if You choose not to do so, we are required to deduct withholding tax from any interest earned unless You are in an exempt category. Withholding tax is calculated at the highest marginal tax rate plus the Medicare levy.
If You provide us with Your TFN, ABN or exemption, You authorise us to share this information with the Custodian and our Service Providers in order to manage Your taxation affairs.
We will preserve the confidentiality of Your TFN in accordance with the Privacy Act.
Online user identification
When You apply for access to the Platform and register as a user (Registered User), You will be provided with a unique User ID and may be required to nominate a confidential password, personal identification number (PIN), or phone identification password (PIP) (collectively, “User Credentials”) in order that You may identify Yourself to access the Platform or over the phone in order to use the Services.
You are solely responsible for the confidentiality and use of Your User Credentials.
You must notify us immediately if You become aware of any loss or theft or unauthorised use of Your User Credentials or any part thereof. After such notification, we will as soon as reasonably possible disable Your access to the Platform and Services until such time as replacement User Credentials have been issued by us or established by You.
We are entitled to assume that any instruction received containing all or any part of the User Credentials originates from You or the Authorised Person to whom the User Credentials are assigned and that such instruction is a valid instruction to access the Services. We are not obliged to inquire into the validity of any such instruction received.
We deem that the person using the User Credentials or any part thereof to access the Platform and the Services is the person to whom the User Credentials are assigned.
How to give us instructions
You accept the risks of giving instructions orally, in writing or by electronic means (including any electronic instructions using the Platform which include all or any part of Your User Credentials), or any other method including but not limited to:
- the risk of any instructions to transfer funds in or out of an Account or Linked Account under Your control being dishonoured by Your financial institution or ADI;
- the risk of instructions to transfer funds in or out of an Account or Linked Account under Your control being unauthorised or given by an unauthorised person;
- an instruction (e.g. investment order) being unauthorised or given by an unauthorised person;
- the risk that information sent by Electronic Equipment is not secure or free from virus or delay.
We reserve the right at all times to decline to accept Your instructions or investment order without giving any reason or explanation or prior notice, if, for example:
- it is not possible for us to place Your investment order in the marketplace;
- we believe Your instructions are ambiguous, incomplete or unclear; or
- we suspect potential fraud or illegal activity using Your User Credentials or Account.
Without limiting our rights under this section ("How to give us instructions"), we may decline to accept Your instructions for reasons other than the ones mentioned above.
You acknowledge and agree:
That if You or any other person connected or associated with the Account appears to be a Proscribed Person, then we may:
- immediately refuse to process or complete any transaction or dealing of Yours;
- suspend the provision of a product or service to You;
- refuse to allow or to facilitate any of Your portfolio assets held by us or the Fund’s custodian or security trustee to be used or dealt with;
- refuse to make any portfolio asset available to You or to any other proscribed person or entity; or
- terminate these arrangements with You.
When You are more than one person, we may accept instructions from the Authorised Person on behalf of all of You.
You are responsible for fraudulent, illegal or unauthorised dealings on the Account(s) under Your control which are attributable to Your conduct, and You release and discharge us from liability in this regard.
We have the right to request written confirmation of instructions before acting on any instructions from You or another Authorised Person.
We may assume the authenticity of any instructions given or purportedly given orally, in writing or by electronic means (including any electronic instructions using the Platform which include all or any part of Your User Credentials) by You or Your Authorised Person(s), or that any person claiming to be Your Authorised Person is in fact that person. We are not obliged to enquire into any of the matters mentioned in this condition and You authorise us to act upon such instructions it reasonably believes to be authentic.
We will use our best endeavours to execute Your instructions, but we will not guarantee that Your instructions will be wholly or partially executed or will be executed by a certain time.
You authorise and appoint us, each of our directors, officers and employees as Your attorney to enter into any contract or agreement with another party on Your behalf upon receiving Your instructions (such instructions may be given by You electronically and accepted by us in accordance with these terms and conditions to do so). You acknowledge that all liability for such contracts is Yours alone. You will indemnify us against all loss, expense or any other liability in relation to such contracts or agreements.
- through our Platform;
- by calling us.
You must also provide us with any information that we reasonably request in order to accept Your instructions.
You are responsible for ensuring the accuracy and completeness of Your instructions.
Authority to act on Your instructions
- act on Your instructions (including instructions we believe to be from You);
- act on the instructions of an Authorised Person (including instructions or requests we believe to be from an Authorised Person) without referring to You;
- act on an incomplete or unclear instruction if we reasonably believe we can correct the information without referring to You or an Authorised Person;
- act on an instruction which conflicts with another instruction and determine the order of acting if multiple instructions are received;
- seek to verify an instruction by contacting You or an Authorised Person.
When we may refuse Your investment order
We may review Your investment order to ensure that it meets our requirements.
We may refuse to accept Your investment order or may limit Your order:
- if we determine that You may not meet any payment in connection with Your investment order;
- if You have failed to meet Your payment obligations on any other investment order;
- if we determine that accepting or executing Your investment order would cause You or us to breach any law;
- if we consider that Your investment order would negatively affect the integrity of our marketplace; or
- for any other reason that we determine is appropriate.
We will notify You of any refusal or limitations as soon as practicable.
Delays in the execution of Your instructions
There may be a delay between when we receive Your instructions and when we act on Your instructions. We are not responsible for delays or errors in the transmission or execution of Your instructions.
How we confirm the details of Your investment orders
We will issue You with a Investment Order confirmation for each investment order You make through the Platform.
We may issue a replacement Investment Order confirmation if we discover an error or omission in an earlier Investment Order confirmation.
You acknowledge that a Investment Order confirmation relating to an investment in asset backed securities (Notes) in the Fund is issued subject to:
- the directions, decisions and requirements of LendEx;
- the customs and usages of the Platform; and
- the corrections of errors and omissions.
When investment orders may be cancelled or amended
Your investment orders may be cancelled or amended without Your consent if:
- we consider that the investment order may negatively affect the integrity of the LendEx marketplace; or
- we are permitted or required to do so under a law.
You are not entitled to any compensation from the cancellation or amendment of Your investment order under this section, even if:
- we have sent You a Investment Order confirmation relating to the investment order; or
- it is later determined that Your investment order did not negatively affect the integrity of the LendEx marketplace or cancellation of the order was not permitted under a law, provided we have acted in good faith.
Provision of information
You must take all reasonable steps to deliver information or documentation to us, or cause information or documentation to be delivered to us, concerning You or Your Application when requested to do so.
Disruption to Services
There may be disruptions to our Services during which a Service is temporarily unavailable or where a system or equipment fails to function in a normal or satisfactory manner. There may also be occasions where an error occurs in the processing of a transaction or Your instructions.
If there is a disruption or error that affects Your access to a Service, we will:
- correct any incorrect entry which is made in Your account as a result of a disruption or error; and
- adjust any fees or charges which have been applied as a result of that incorrect entry. You must reimburse us for any funds wrongly credited to Your account as a result of disruption or error.
We may notify You if we are unable to provide You with all or some of the Services.
If You are an Investor, except as otherwise provided by the Constitution of the Fund or the Corporations Act, You must not:
- interfere with, or question the exercise or non-exercise of, any power, duty or right of LendEx;
- exercise a right or give any directions in respect of our Platform or the Services (including, without limitation, any Loan or Investment);
- Encumber, or seek to Encumber, any Fund Asset;
- do, or omit to do, anything else that prohibits (whether conditionally or not) an action, or the registration of a dealing, in respect of a Fund Asset;
- assign or transfer Your Account.
General prohibited conduct
You must not:
- modify or make derivative works based upon the Services, Website or the Platform; or
- improperly use the Services, Website or the Platform, including by interfaces (including exposing or “passing through” a software API or otherwise making the software accessible as an API), creating Internet “links” to any part of the Services, Website or the Platform, “framing” or “mirroring” any part of the Services, Website or the Platform on any other websites or systems, or “scraping” or otherwise improperly obtaining data from the Services, Website or the Platform.
You acknowledge and agree that:
- each Report is prepared by the relevant service provider solely for the benefit of LendEx and not for You. As a consequence, You are not entitled to rely on any Report and are not owed any obligations or duties (fiduciary or otherwise) by the issuer of any Report;
- a Report does not constitute financial product advice or a recommendation by, or advice from, the issuer of the Report, or by or from LendEx, to You on the merits or otherwise of participating in any Investment or Loan;
- each Report is prepared without reference to an Investor's particular investment objectives, financial situation or needs and without purporting to contain all the information that a prospective investor may require in evaluating a possible Investment;
- access to a Report should not be relied on as a representation or warranty that the Report is accurate or complete, or that there has been no change in any relevant fact since the date the relevant Report was prepared;
- information in a Report may have been prepared for limited purposes which did not include You having access to it;
- a Report made available to You might comprise only a summary or extract of the full report, omitting key assumptions or qualifications on which the Report conclusions are based;
- You should not rely on Reports and should make Your own independent assessment of each Investment and Loan, after making such investigations as You deem necessary. In particular, any targets, projections, estimates, forecasts and opinions necessarily involve significant elements of subjective judgment, assumptions as to future events and analysis, which may or may not be correct and You should satisfy yourselves in relation to those matters; and
- LendEx is not involved in the preparation of any Report, nor will it independently verify or assess any Report. To the fullest extent permitted by law, LendEx disclaim all responsibility and liability for any loss or damage of any nature which may be suffered by any person directly or indirectly through relying on the information contained in any Report, whether that loss or damage is caused by any fault or negligence of LendEx or otherwise.
You also agree and undertake not to bring any Third Party Claim in connection with any Report against the issuer of the Report or any other person. You agree that, in the event of any deficiency in any Report or any negligence or other misconduct by the issuer of any Report, You will have no direct recourse against the issuer of the Report, and Your sole remedy will be as beneficiary (in Your capacity as a Member of the Fund) in respect of any claim brought by the Fund against the issuer of the Report.
- acknowledge and agree that the LendEx Lawyers are retained only by the Credit Provider and for the sole purpose of providing the Legal Services to the Credit Provider;
- acknowledge and agree that You have been advised, and You have had the opportunity, to seek Your own independent legal advice in relation to the Investment or the Loan (as the case may be);
- acknowledge and agree that the LendEx Lawyers do not provide any advice to, or act for, You in relation to any aspect of the Investment or the Loan (as the case may be);
- acknowledge and agree that the Credit Provider is not acting as Your agent or otherwise on Your behalf with respect to the engagement of the LendEx Lawyers or the receipt of the Legal Services provided by the LendEx Lawyers;
- waive any right You may otherwise have to, and warrant that You will not, make a Third Party Claim against the LendEx Lawyers in relation to the provision of the Legal Services, whether in contract, tort or under any other law in force at any time in Australia; and
- indemnify the LendEx Lawyers against any loss or damage that they may suffer by reason of any Third Party Claim being brought by You or any party claiming through You in any way related to the Investment or the Loan (as the case may be).
Fees, commissions and costs
You agree to pay Fees for the provision and use of the Services as specified in our Disclosure Documents or on our Website or as otherwise notified to You in writing from time to time.
We may introduce new Fees, or change existing Fees, at any time. If we do so, we will give You at least 20 Business Days’ notice before the introduction or change takes effect.
Where a Fee is stated to be exclusive of GST, You agree to pay us the GST amount.
You must pay or reimburse on demand:
- our Costs in connection with property valuations, legal fees, making searches and enquiries in connection with You and any property You propose providing as and any collateral (security) for a Loan;
You authorise us to deduct or draw down all Fees, government charges and duties, Costs and other amounts specified in our Disclosure Documents or Loan Agreement from Your Cash Holding Account or Loan proceeds. You authorise us to do anything necessary or desirable in order to exercise and enforce our entitlements to those amounts.
Intellectual property rights and data
Except for the licence grant above, no intellectual property rights are transferred or licensed to You in connection with the Website, Platform or the Services.
You must not:
- reproduce, republish, broadcast or otherwise distribute or publish any copyright works (or any part of any copyright works, whether substantial or not); or
- use as a trade mark, any trade marks which are used by us on the Website, Platform or the Services.
You agree that we own all right, title and interest over Your Data and to the extent required, You assign such Data to LendEx. However, to the extent that such data is Your confidential information, then our ownership is subject to the confidentiality obligations below.
We will keep confidential Your Confidential Information and You agree that You must keep confidential our Confidential Information.
Neither us nor You will, without the prior written approval of the other party, disclose the other party's Confidential Information.
Termination and suspension
- You are ineligible to become an Investor or Borrower in accordance with our eligibility requirements;
- You establish or seek to establish more than one User ID;
- You provide any information during the registration process or thereafter which is deemed (by LendEx) to be inaccurate, incomplete, not current or suspected to be fraudulent;
- Services are provided to You jointly and one of You dies;
- You become Bankrupt or an Insolvency Event occurs in respect of either party;
- without cause at any time upon LendEx giving seven (7) days prior written notice to You;
we have reasonable grounds to believe that if we continue to provide You with the Services we would:
- breach the Corporations Act, the terms and conditions of the Fund Information Memorandum, any Australian law or the law of another country; or
- be an accessory to a breach of the Corporations Act, the terms and conditions of the Fund Information Memorandum, any Australian law or the law of another country; and/or
- we consider it necessary for any legitimate business or regulatory reason.
We may limit or restrict the availability or provision of Services to You, at any time if we think that doing so is necessary to protect You, other users of the Website or Platform.
We may restrict, suspend, change or terminate all or part of the Services that You can access on the Website and Platform without liability to You in certain circumstances including during scheduled emergency upgrades or maintenance of our Website and Platform, or if there is a system outage affecting us, or one of our service providers that is outside our reasonable control.
We may also restrict or suspend Your access if You are in breach of our terms, or we believe we are a victim of fraud. We may suspend or terminate Your account or Your use of the Services or otherwise deny You access to the services at any time if we reasonably suspect that information You have provided is untrue, inaccurate, not current, or incomplete. In some circumstances we may have to do this without notice to You.
Our general right to terminate the Services immediately
We can terminate one or more Services at any time without notice (subject to any applicable law) if:
- Services are provided to You jointly and one of You dies;
- You become Bankrupt or Insolvent;
we have reasonable grounds to believe that if we continue to provide You with the Services we would:
- breach the Corporations Act, the terms and conditions of the Fund Information Memorandum, any Australian law or the law of another country; or
- be an accessory to a breach of the Corporations Act, the terms and conditions of the Fund Information Memorandum, any Australian law or the law of another country; and/or
- we consider it necessary for any legitimate business or regulatory reason.
Termination of Services by notice
A Service may be terminated:
- by us providing You with at least 5 Business Days’ notice; or
- by You providing us with 20 Business Days’ notice.
Liability of LendEx
We are not liable to You or any Authorised Person for any liability, damages or loss arising from, or any Costs or expenses relating to, any of the following (except to the extent resulting from or caused by our fraud or dishonesty or our intentional or reckless breach of these terms and conditions):
- us acting, or refusing to act, on Your instructions or any instructions which appear to us to have been made by You or on Your behalf (including investment orders by an Authorised Person);
- caused by the exercise or attempted exercise of, failure to exercise, or delay in exercising, a right or remedy, whether or not caused by our negligence;
- any error or omission in, or any non-receipt or invalidity of, Your instructions or any instruction which appears to us to have been made by You or on Your behalf;
- any unauthorised instructions or any fraud or dishonesty of anyone other than us;
- any error or omission in a Investment Order confirmation or statement that You do not bring to our attention promptly following receipt of the Investment Order confirmation or statement;
- any errors or omissions in the data You manually enter into our Platform;
- our compliance with a direction, request or requirement of any law or regulatory authority;
- any loss, delay, destruction or mutilation of any form of oral, written or electronic message;
- any omission, mistake, delay or interruption in providing the Information on our Website or Platform;
- risks associated with investing in Financial Products;
- any loss of an indirect, special or consequential kind;
any other event or circumstance that we cannot reasonably control including:
- any problems with Your telecommunications services, internet service provider, computer hardware or software;
- any failure of electronic or mechanical equipment or communication lines; or
- any unauthorised access or labour problems; or
- any disruption to our Service.
The limitations in this clause apply even if the loss, damage, liability, Costs or expenses were reasonably foreseeable or we were advised of the possibility of the loss, damage, liability, Costs or expenses.
We will be liable for any loss, damage, Costs or expenses arising directly out of:
- our effecting a request to place an investment order, change Your User ID, change Your email address, or transferring money in our out of the Platform to and from Your Linked Account, if the request was received after You notified us that Your User ID had become known or used by another person (including an Authorised Person, if applicable); and/or
- fraud of our employees.
We do not exclude or limit the application of any legislation where to do so would contravene the legislation or cause any part of these terms and conditions to be void. Liability for a breach of any provision implied by law that cannot be excluded is limited to replacement of goods (in the case of goods) or resupply of services (in the case of services).
You Indemnify LendEx
You agree to indemnify each of LendEx, its directors, officers, associates and agents (indemnified parties) against any losses, liability, damages, Costs or expenses:
- arising from any unauthorised instructions or fraud, except to the extent arising from our fraud or dishonesty.
“You” includes a person who we reasonably believe to be You, or Your Authorised Person.
Registration and Eligibility
Eligibility – Registered User
In order to be a Registered User of the Platform, You must be:
- An Authorised Person;
- at least 18 years of age; and
- an Australian citizen or permanent resident.
Eligibility – Investors
In order to complete an Application and be eligible to become an Investor, You must be an individual, joint individual, director of a corporation, director of a corporate trustee, or individual trustee of a trust that is a Wholesale Client as defined by the Corporations Act 2001.
In the case of an Investor being an individual, joint individual, corporation, trust or fund (as the case may be), the Registered User must be the individual, one of the joint individuals, or director or trustee of the Investor (as the case may be) and cannot be an agent of the Investor (e.g. the Investor’s financial planner, accountant or lawyer). The intent behind this is to assist in protecting Investors from possible third party fraud and/or misrepresentation.
Eligibility – Borrowers
In order to complete an Application (loan request) and be eligible to become a Borrower, You must be a director of a corporate trustee of a Self-Managed Superannuation Fund (SMSF) regulated by the Australian Taxation Office (ATO).
The Registered User must be a director of the corporate trustee of the Borrower and cannot be an agent of the Borrower (e.g. the Borrower’s finance broker, mortgage broker, financial planner, accountant or lawyer). The intent behind this is to assist in protecting Borrowers from possible third party fraud and/or misrepresentation.
Online Identity Verification Terms
LendEx is required to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
The AML/CTF Act requires us to (amongst other requirements) to collect information about You and to verify Your identity before we can provide our Services to You. In order to do so, we will ask You for personal information (such as Your name, surname, date of birth and residential address) and details of Your identity documents.
By proceeding with the online user registration or an Application, You agree to LendEx making an identity verification request (verification request) and disclosing Your name, surname, date of birth and residential address (personal information) electronically on Your behalf with the following external organisations for the purposes of verifying your identity in accordance with these terms:
- VIX Verify Pty Ltd ABN 67 111 307 361 (VIX Verify);
- Dunn & Bradstreet (Australia) Pty Ltd ACN 006 399 677 (D&B); and
- Commonwealth and State government departments (via the Document Verification Service (DVS)).
We may ask D&B (a credit reporting agency) to provide an assessment of whether the personal information so provided matches (in whole or in part) personal information contained in a credit information file in the possession or control of D&B to assist in verifying Your identity for the purposes of verifying Your identity as required under AML/CTF Act.
D&B may prepare and provide LendEx with such an assessment and may use Your personal information including the names, residential addresses and dates of birth contained in credit information files of You and other individuals for the purposes of preparing such an assessment. If You disagree with having Your identity verified by a credit reporting agency, please contact LendEx so that we can discuss other options with You.
You also appoint LendEx as Your agent to contact Commonwealth and State Government agencies and private sector organisations (database owners) electronically (via the DVS) on Your behalf using VIX Verify, to verify the personal information You have provided to us, including Your mobile number and email address.
For more information on how the database owners handle personal information, please refer to the database owners' privacy policies on their website, or contact them individually to get more information.
The following databases may be accessed electronically to verify the personal information You have provided to us:
- Dunn & Bradstreet – Credit File Header;
- National Tenancy database;
- Commonwealth Electoral Roll;
Commonwealth Agencies and Bodies, including:
- Australian Securities & Investments Commission (ASIC);
- Australian Taxation Office (ATO);
- Department of Foreign Affairs and Trade - Australian Passport Office;
- Department of Immigration and Border Protection - Visa Entitlement Verification Online; and
Various State Government Authorities, including:
- ACT - Road Transport Authority;
- NSW - Roads and Maritime Services;
- QLD - Department of Transport and Main Roads;
- VIC - VicRoads;
- WA - Department of Transport;
- SA - Department of Planning, Transport and Infrastructure;
- NT - Department of Transport;
- TAS - Department of State Growth Transport; and
- Registry of Births, Deaths & Marriages.
It is an offence to knowingly give false or misleading information or knowingly produce a false or misleading document under AML/CTF Act.
The confirmation of Your identity using a credit reporting agency will not be recorded as an enquiry on Your consumer credit report.
We cannot accept an Application until we are satisfied that the identity of the user, investor or borrower has been verified in accordance with the AML/CTF Act.
Please be assured that we will take reasonable steps to protect Your personal and sensitive information in accordance with the Australian Privacy Principles (APP) and the Privacy Act 1988 (Privacy Act).
Before we get into the detail, we’d like to define a few terms that will hopefully make it easier for You to understand this policy:
- When we refer to “Your information”, we are referring to Your personal information, as defined under the Privacy Act. Essentially this is any information or opinion about You that is capable, or reasonably capable, of identifying You, whether the information or opinion is true or not and is recorded in material form or not.
- The Privacy Act defines some types of personal information as “sensitive information”. We don’t commonly collect sensitive information, which includes information about a person's race, political or religious beliefs, sexual preferences, criminal convictions, membership of professional or trade associations or unions and biometric and health data. In the event we require any sensitive information we would only collect this with Your permission, and we will only use it for the purpose for which You provided it.
In addition to the above, we have a:
- Credit Reporting Policy that sets out how we manage Your credit information and credit eligibility information where this is relevant to You, and is our credit reporting policy for the purposes of Part IIIA of the Privacy Act; and
Collection of personal information
Why we collect personal information
We collect personal information when it is reasonably necessary for one or more of our functions or activities.
- to provide You with access to and use of our platform, systems, products and services;
- to assess Your eligibility for, and to further assess and process applications for, the products and services we offer;
- to verify that the information You provide to us is correct;
- to identify You and any related party the subject of an application made by You;
- to protect You and us against fraud, prohibited or unlawful activity which may cause You or us harm in relation to our products or services;
- to discuss Your application, product or service, with third parties You have engaged for the purpose, such as Your lawyer, accountant, financial adviser/planner, administrator or credit assistance provider;
- to contact You to discuss Your application and/or to manage Your account;
- to assist You with queries, concerns or complaints;
- to monitor, evaluate, measure, customise, improve and communicate products and services You request and, which we think may be of interest to You, unless You tell us otherwise, to provide information on products and services offered by us and external product and service providers for whom we act as agent. (If You have provided us with Your email or mobile phone details, we may provide information to You electronically with respect to those products and services);
- to gather and aggregate information for statistical and research purposes;
- to maintain and develop our business systems, processes and infrastructure; and
- to meet legal and regulatory requirements including requirements under the Anti-Money Laundering and Counter-Terrorism Financing Act (for example, to comply with identity verification requirements), the Personal Property Securities Act and State and Territory real property and security interests laws (for example, to register and search for security interests), the Banking Act, the Financial Sector (Collection of Data) Act, the Corporations Act and the Taxation Administration Act, the Income Tax Assessment Act and other taxation laws.
When You visit our Website or Platform
When You access our Website or Platform we may collect non-personal information in aggregate form, such as Your browser type, which pages of our site You access and Your IP address. We use this aggregate information to understand how our users use our Website or Platform.
We also use ‘cookies’ which are records of Your interaction with our site that are stored by Your browser. Cookies help make Your browsing experience easier, by for example, remembering the information You previously entered. You can disable cookies through Your browser settings.
Information we may collect
The personal information we will collect about You may include:
- information to identify You, including Your name, date of birth, contact details and transaction information;
- government identifiers such as Your passport number or driver licence number;
- financial information, as needed, to assess Your credit application; and
- such other information we consider necessary to our functions and activities.
Please note that we are required by law to identify You if You are opening a new account or making changes to an existing account. Anti-money laundering laws require us to sight and record details of certain documents (i.e. photographic and non-photographic documents) in order to meet the standards set under those laws.
Where it is necessary to do so, we will also collect information in relation to entities and individuals associated with You such as:
- beneficial owners and beneficiaries of a company, trust or fund;
- company directors and officers;
- a Self-Managed Superannuation Fund (SMSF); and
- a ‘Bare Trust’ for the purposes of a Limited Recourse Borrowing Arrangement (LRBA).
How we collect personal information
Wherever possible, we will only collect personal information directly from You (rather than someone else) unless it is unreasonable or impracticable to do so or You have instructed us to liaise with someone else.
Information collected from someone else
If it is impracticable or unreasonable for us to collect the personal information directly from You, we may collect such information from publicly available sources of information including, identity verification service providers, referrers, agents and credit reporting bodies (CRBs). If You are not aware that we have collected the personal information, we will notify You of collection and the circumstances of collection, if we consider it is reasonable to do so.
The Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1) require us to collect certain identification information from and about You. As such, we will take steps to verify the personal information we collect from and about You; including matching Your personal information against the data records held by CRBs and the federal government’s Document Verification Service (DVS).
Incomplete or inaccurate information
We may not be able to provide You with the products or services You are seeking if You provide incomplete or inaccurate information, or if we are unable to properly establish Your identity.
In most cases, before or at the time of collecting Your personal information, we will obtain Your consent to the purposes for which we intend to use and disclose Your personal information.
If You don’t give us consent, we may not be able to provide You with the benefit of our products or services, or meet Your needs appropriately.
Having provided consent, You are able to withdraw it at any time. To withdraw consent, please contact our Privacy Officer using the contact information provided on the Contact Us page of our Website.
Please note that withdrawing Your consent may lead to us no longer being able to provide You with the product or service You enjoy given that, as mentioned above, it is impracticable for us to treat some clients differently.
In addition to the above conditions of collecting personal information, we will only collect sensitive information about You if we obtain prior consent to the collection of the information or if the collection is required or authorised by law.
Dealing with unsolicited personal information
If we receive personal information that is not solicited by us, we will only retain it, if we determine that it is reasonably necessary for one or more of our functions or activities and that You have consented to the information being collected or given the absence of Your consent that it was impracticable or unreasonable for us to obtain it under the circumstances.
If these conditions are not met, we will destroy or de-identify the information.
If such unsolicited information is sensitive information we will obtain Your consent to retain it regardless of what the circumstances are.
Integrity of Your personal information
Quality of personal information
We ensure that the personal information we collect and use or disclose is accurate, up to date, complete and relevant.
Please contact us using the contact information provided on the Contact Us page of our Website if any of the details You have provided to us change or if You believe that the information we have about You is not accurate or up to date.
We may also take steps to update personal information we hold, for example, an address, by collecting personal information from publicly available sources such as telephone directories or electoral rolls.
Security of personal information
We are committed to ensuring that we protect any personal information we hold from misuse, interference, loss, unauthorised access, modification and disclosure.
For this purpose, we have a range of practices and policies in place to provide a robust security environment. We ensure the on-going adequacy of these measures by regularly reviewing them.
We may hold Your personal information in physical form or in electronic form on computer systems located in Australia or overseas, including with contracted third party technology and ‘cloud’ storage providers.
We take reasonable steps to protect Your information using physical, technical, and administrative security measures to reduce the risks of loss, misuse, unauthorised access, disclosure, and alteration of Your personal information. Safeguards include the use of firewalls and data encryption, physical access controls to the data centres, and information access authorisation controls.
When You enter personal information through our Website or Platform, we encrypt the transmission of that information using secure socket layer technology (SSL) with 256-bit encryption.
Use or disclosure of personal information
Use or Disclosure
If we hold personal information about You that was collected for a particular purpose (“the primary purpose”), we will not use or disclose the information for another purpose (“the secondary purpose”) unless:
- We have obtained Your consent to use or disclose the information; or
You would reasonably expect us to use or disclose the information for the secondary purpose and the secondary purpose is:
- if the information is sensitive – directly related to the primary purpose; or
- if the information is not sensitive – related to the primary purpose.
- the use or disclosure of the information is required or authorised by or under an Australian law or a court/tribunal order; or
- a permitted general situation exists in relation to the use or disclosure of the information by us; or
- a permitted health situation exists in relation to the use or disclosure of the information by us, in which case we will de-identify the information before disclosing it; or
- we reasonably believe that the use or disclosure of the information is reasonably necessary for one or more enforcement related activities conducted by, or on behalf of, an enforcement body; or
- where we use or disclose personal information in accordance with this section we will keep a copy of this disclosure (e.g.: the email or letter used to do so).
Who we may communicate with
Depending on the product or service You have, the entities we exchange Your information with include but are not limited to:
- regulatory bodies in Australia and overseas;
- external organisations that are our assignees, agents or contractors;
- external service providers to us, such as organisations which we use to verify Your, or an associated entity’s identity, payment systems operators, mailing houses and research consultants;
- insurers and re-insurers, where insurance is provided in connection with our services to You or an associated entity;
- debt collection agencies, if You, or an associated entity, has not repaid a loan as required;
- referral partners or agents who refer You to us;
- our professional advisers, such as accountants, lawyers and auditors;
- companies that help us provide our services, such as technology services providers;
- companies that help us market our products and services;
- third parties You authorise to act on Your behalf or that are otherwise connected with You (such as Your accountant, financial adviser, mortgage broker, legal representative, etc.);
- other persons and entities as permitted under the Privacy Act.
Our use or disclosure of Your personal information may not be limited to the examples above and may also include us collecting Your personal information from these organisations and individuals.
We will take reasonable steps to ensure that the organisations and individuals that we disclose Your personal information to are bound by sufficient confidentiality and privacy obligations with respect to the protection of Your personal information in compliance with the law.
We may disclose Your personal information when we outsource certain functions, including custodian, trustee, property valuation, legal, market research, direct marketing, debt recovery and information technology support. We may also seek expert help from time to time to help us improve our systems, products and services.
In all circumstances where Your personal information may become known to our contractors, agents and outsourced service providers, there are confidentiality arrangements in place. Contractors, agents and outsourced service providers are not able to use or disclose Your personal information for any purposes other than our own.
We take our obligations to protect Your personal information very seriously and make every effort to deal only with parties who share and demonstrate the same commitment to the protection and handling of Your personal information.
Disclosure required by law
We may be required to disclose Your personal information by law e.g. under Court Orders or Statutory Notices pursuant to taxation or laws relating to sanctions, anti-money laundering or counter terrorism financing.
We will only use or disclose the personal information we hold about You for the purpose of direct marketing if we have received the information from You and You have not requested not to receive such information.
Direct marketing means that we should use Your personal information to provide You with information on our products and services that may interest You.
We may disclose Your personal information to third parties who assist us in providing marketing offers to You.
We will never sell Your personal information to any organisation outside of LendEx.
You can opt-out of receiving marketing information altogether by contacting us using the contact us information provided on the Contact Us page of our Website.
Cross border disclosure of personal information
Disclosing personal information to cross border recipients
We will only disclose Your personal information to a recipient who is not in Australia and who is not our entity after we ensure that:
- the overseas recipient does not breach the Australian Privacy Principles; or
- You will be able to take action to enforce the protection of a law or binding scheme that has the effect of protecting the information in a way that is at least substantially similar to the way in which the Australian Privacy Principles protect the information; or
- You have consented to the disclosure after we expressly disclosed to You that there is no guarantee that the overseas recipient will not breach the Australian Privacy Principles; or
- the disclosure of the information is required or authorised by or under an Australian law or a court/tribunal order; or
- a permitted general situation (other than the situation referred to in item 4 or 5 of the table in subsection 16A(1) Privacy Act) exists in relation to the disclosure of the information.
Access to personal information
You have a right to request access to the personal information we hold about You. We will generally be able to meet Your request, subject to certain exceptions under the Privacy Act. We may charge for giving access to personal information and will inform You in advance of any likely charge. If You would like to access Your information, please contact us on the details set out below. Your request will usually receive a response within 5 business days.
In the event that we refuse You access to Your personal information, we will provide You with an explanation for that refusal. These reasons may include:
- where providing access will provide a serious threat to life or health of any individual or pose an unreasonable impact on the privacy of other individuals;
- the request for access is frivolous or vexatious;
- the information relates to legal proceedings between us and You;
- the information would reveal our commercially-sensitive decision-making process; or
- we are prevented by law from disclosing the information or providing access.
LendEx takes reasonable steps to ensure that the personal information we collect, use or disclose is accurate, complete, up-to-date and relevant to the products or services provided to You or the nature of our relationship with You.
If You believe that this is not the case in relation to any personal information we hold about You, You have the right to request that we correct Your personal information. To request correction of Your personal information, please contact us on the details set out below.
Questions or concerns
Resolving privacy concerns
Complaints and feedback
We work hard to deliver an exceptional client experience to our clients. We value Your opinion, so if a product or service we provide does not meet Your expectations, we want to know about it.
Our team is here to listen, and ready to assist You in resolving any complaints or concerns You may have. Plus, Your feedback gives us the opportunity to better our products and services, which is something we continually strive to do. If You have a complaint, concern, suggestion or just wish to give some feedback, please don’t hesitate to get in touch.
Making a complaint
If You would like to make a complaint regarding our handling of Your personal information, including if You believe we have breached the Privacy Act, You have a right under the Privacy Act to make a complaint. Please direct Your enquiry to our Privacy Officer using the contact information provided on the Contact Us page of our Website.
To assist us in resolving Your complaint efficiently, we recommend that You:
- be prepared by gathering specific supporting information You believe will help shed light on Your concerns; and
- be as clear as possible about what has happened and how You consider we can resolve the matter to Your satisfaction.
Once Your complaint has been lodged, we will:
- try to resolve the matter on the spot (if You make Your complaint by telephone) - in most situations we can do this;
- acknowledge Your complaint within 5 business days after we received it (if You make Your complaint in writing);
- keep You up to date on our progress investigating Your complaint; and
- work hard to resolve Your matter within 30 days of receipt of the initial complaint.
If we are unable to resolve the complaint within 30 days of receipt of the initial complaint, we will:
- inform You of the delay and the reasons for the delay;
- specify a date when a decision can reasonably be expected.
If You are not satisfied with the handling of Your complaint, You may wish to contact the Office of the Australian Information Commissioner at:
1300 363 992
GPO Box 5218
Register of complaints
We will keep a record of the complaint and any action taken in our Register of Complaints.
Credit Reporting Policy
This policy applies in respect of LendEx RE Limited ACN 168 531 851 and LendEx Holdings Pty Ltd ACN 103 230 655 (collectively LendEx, us, we, our).
LendEx does not currently provide credit facilities which fall within the National Consumer Credit Protection Act 2009 (Cth). LendEx is a platform which facilities the provision of credit facilities from “professional investors” and “sophisticated investors” (as those terms are defined in the Corporations Act 2001 (Cth)), to borrowers who are directors of a corporate trustee of a Self-Managed Superannuation Fund (SMSF) regulated by the Australian Taxation Office (ATO).
The purpose of this Credit Reporting Policy is to tell You how we manage:
- “credit information”, being information related primarily to Your or Your credit-related dealings in connection with the Website, Platform or the Services which we may disclose to CRBs, such as information that identifies You and about Your application for credit and Your credit facility and status; and
- “credit eligibility information”, being information related primarily to Your credit-related dealings with other credit providers and comprises of “credit reporting information” disclosed by third parties and CRBs to us and information we derive from that.
This policy applies to current credit customers and other individuals we deal with in relation to whom we hold credit information or credit eligibility information.
The information we collect and how we collect it
We collect, hold and disclose various types of credit information and credit eligibility information, including:
- identification information such as Your name and addresses, date of birth, occupation, name of Your employer and Your driver's licence number;
- that You have applied for commercial credit, the type and amount of that credit and the fact we have accessed Your credit information to assess a relevant application;
- that we have been a provider of credit to You and the type of account, the date the account was opened and closed and maximum amount of credit that we have provided or will provide;
- the date that any credit contract we have or had with You was entered into and the date that it is terminated or ceases;
- Your repayment history i.e. whether or not You made any payment that was due in a particular month, and where a payment was overdue, when it was ultimately paid;
- default information about You i.e. information about a payment owed by You as a borrower or guarantor in connection with credit that remains overdue for more than 60 days and which we can disclose to a credit reporting body if certain requirements under the Privacy Act 1988 (Cth) (Privacy Act) are met;
- payment information about some of Your overdue payments e.g. a statement that an overdue payment in relation to which default information was provided to a CRB has been paid;
- an opinion we have on reasonable grounds that You have committed a serious credit infringement in relation to credit that we or another lender have provided to You;
- whether You have entered into arrangements with us in connection with credit provided to You;
- court proceedings information, personal insolvency information and credit-related publicly available information; and
- other information relating to Your credit worthiness which is derived by us or by CRBs wholly or partly on the basis of the information above.
We may collect this information in a number of ways, such as obtaining it directly from You or from persons acting on Your behalf (including on application forms or other forms or in our ongoing dealings with You in connection with the provision of credit). Some information (i.e. credit reporting information) will be obtained from third parties (which may include CRBs). Some information will also be derived by us from Your usage and (where applicable) repayment of any account held with us.
Purposes for which we collect, hold, use and disclose Your credit related information
We may collect, hold, use and disclose Your credit information and credit eligibility information as reasonably necessary for our business purposes and as permitted by law. These purposes may include:
- to assess an application by You, or an entity associated with You, for credit (including assessing any loan request or any proposed guarantors);
- to manage credit that may be provided by an Investor or otherwise in connection with the Platform, the Website or the Services (including servicing and administration of our accounts and products);
- for internal management purposes;
- to undertake securitisation activities;
- to assist You if we consider that You may be at risk of defaulting on Your credit-related obligations;
- to undertake debt recovery and enforcement activities, including in relation to guarantors, and to deal with serious credit infringements;
- to meet our legal and regulatory requirements (such as reporting matters to regulators or enforcement bodies when authorised or required by law);
- to deal with complaints and legal proceedings;
- to derive scores, ratings and other information relating to Your credit worthiness which are used in our decision-making processes; and
- to assist other credit providers to do the same.
Some credit information and credit eligibility information may only be used or disclosed under the Privacy Act for some of these purposes or in certain circumstances, including in some circumstances where we have Your consent.
Third parties to whom we may disclose Your credit-related information
We may as permitted by law disclose Your credit information or credit eligibility information to third parties, including:
- other credit providers;
- our related companies;
- organisations that perform credit assessment, management and debt collection activities in connection with the Website, Platform or the Services;
- current or prospective guarantors or security providers in relation to credit being provided to You in connection with the Website, Platform or the Services;
- mortgage insurers;
- the LendEx Lawyers or the provider of any Report; or
- organisations involved in debt assignment or securitisation arrangements.
In some circumstances we may require Your consent before being able to make such disclosures.
In some cases, the organisations to who we may disclose Your credit eligibility information may be based outside Australia. For example, we may disclose Your information to our service providers which are likely to be located in the United Kingdom and the United States of America.
How You can access or correct Your information
You have the right under the Privacy Act to access the credit eligibility information we hold about You by contacting us on the details below. We will need to verify Your identity where You make an access request. We will usually provide the information requested within 30 days. We will advise You in writing if we are unable to agree to a request for access to Your credit eligibility information and will provide our reasons for this. You will not be charged for making an access request however we may apply an administration charge for providing access in accordance with Your request. If an administration charge does apply, we will advise You of the amount of that charge and require You to pay that charge before we provide the access You have requested.
If You believe that any credit information or credit eligibility information held by us about You is incorrect, You have the right under the Privacy Act to request that we correct that information. You may make a correction request by contacting us on the details set out below. We will advise You in writing if we are unable to agree to a request for correction of Your credit information or credit eligibility information and will provide our reasons for this. There is no administration charge to correct personal information we hold about You.
Storing Your information and keeping it secure
LendEx may hold Your personal information in physical form or in electronic form on computer systems located in Australia or overseas, including with third party technology and storage providers.
We take the protection of credit information and credit eligibility information we hold very seriously. We may hold Your credit eligibility information in physical or electronic form on our systems. We protect this information by physical, electronic and procedural safeguards including:
- restricting access to our systems;
- identifying individuals who access our systems; and
- staff training on how to keep information secure, including having staff agree to adhere to our internal information protection policy.
Complaints or disputes
If You have any questions or complaints regarding this policy, including if You believe we have failed to comply with an obligation under Part IIIA of the Privacy Act and the Credit Reporting Code which affects Your credit-related information, You have the right under the Privacy Act to make a complaint.
To make a complaint, please contact us on the details set out below. You will receive an acknowledgment of Your complaint within 5 days after we have received it. Once Your complaint is received, our Privacy Officer will liaise with managers and staff to resolve the complaint.
- if we consider it necessary in order to deal with Your complaint, we will consult with another credit provider or a credit reporting body; and/or
- while Your complaint remains unresolved, and we are disclosing information subject to the complaint to a third party, we will advise the third party about the complaint (except if it is impracticable to do so or we are legally prohibited from giving that notice).
Unless there are exceptional circumstances, we will respond to Your complaint within 30 days of receipt of the initial complaint. If we do not expect to resolve the complaint within 30 days, we will inform You before the end of that period, provide the reason for the delay time, the expected timeframe to resolve the complaint and seek Your agreement to an extension for a reasonable period. All complaints will be processed at no charge to You.
If You are not satisfied with the handling of Your complaint You may wish to contact the Office of the Australian Information Commissioner at:
1300 363 992
GPO Box 5218
How to contact us
To contact us in relation to this policy please direct Your enquiry to our Privacy Officer:
1300 536 339
LendEx RE Ltd
This applies in Australia to personal information provided or collected during the employment application process and in the course of Your employment by LendEx.
By submitting an application or registering interest for employment with LendEx, You will supply us with personal information that is subject to Australia’s data protection legislation.
Because of the nature of LendEx, we commonly disclose personal information collected by the prospective employing entity to other entities in LendEx. We do this in connection with Your application for employment, so that our group companies can provide administrative and human resource support services, risk management, and for the overall management of LendEx.
The employment-related personal information we collect
The types of employment-related personal information we may collect includes:
- Contact information: Such as Your full name, e-mail address, current postal and residential address, phone numbers, country of residence, and next of kin contact details,
- Employee record information,
- Identifying information: Such as Your photo, passport and residency details, and date of birth,
- CV, resume or application-related information: Such as the details provided in Your resume or CV, Your eligibility to work in Australia, Your education, previous employment details, professional memberships or trade qualifications,
- Tax, superannuation and payroll information: Such as Your Tax File Number and ATO Declaration, Superannuation details and financial institution details,
- Background check information: Information obtained from You or third parties to perform background checks,
- Medical or health information which You voluntarily provide to us as part of pre-employment medicals, random drug and alcohol testing, or such other information which may be related to an incident which has occurred during the course of Your employment,
- Performance-related information: Pre-employment testing and other information collected by our systems in the course of Your engagement with us,
- Information collected from referees, and
- Security information: Such as CCTV footage and photographs taken on our premises.
How we collect Your personal information
We may also collect Your personal information from third parties including:
- Your current or previous employer
- our recruitment agents, used in connection with Your application with us,
- third party referees provided by You in connection with Your career application to LendEx, and
- third party parties in connection with obtaining any background checks or pre-employment screening.
Purposes for which we collect, use and disclose employment-related personal information
If You submit an employment application to us, we will use Your personal information for the following purposes:
- to assess and administer Your application in accordance with our standard recruitment practices. This may include carrying out background checks, such as by obtaining verification of Your identity and age, criminal history background checks, confirmation of Your eligibility to work in Australia, confirmation of Your education, qualifications and previous employment, and consideration regarding medical leave (if any),
- to communicate with You in relation to Your application,
- to administer our dealings with You in the employer/employee relationship,
- to monitor our systems, performance and time usage and internet usage,
- to monitor and review our recruitment and employment practices, and
- in connection with the sale of any part of our business or a company owned by us.
We may disclose Your personal information to:
- a relevant superannuation company,
- government agencies, including but not limited to the Australian Taxation Office, Centrelink and Child Support Agency,
- the applicable worker’s compensation organisation (e.g. WorkCover),
- third party referees provided by You in connection with Your career application to LendEx,
- our service providers (including IT service providers and payroll providers),
- our recruitment agents, used in connection with Your application with us,
- third party parties in connection with obtaining any background checks or pre-employment screening,
- financial institutions for payroll purposes,
- third parties in connection with the sale of any part of our business or a company owned by us, and
- as required or authorised by law.
If we offer You employment, the personal information (including employment-related personal information) You have provided to us will form part of Your employee record.
If Your application is unsuccessful, we may keep Your information on file in case a more appropriate opportunity becomes available. Please tell us if You do not wish us to keep Your information.
Unsolicited personal information
If we collect personal information from You, or a third party, in circumstances where we have not requested or solicited that information (known as “unsolicited information”), and we determine (in our absolute discretion) that the personal information is not required, we will destroy the information or ensure that the information is de-identified.
If the unsolicited information is in relation to potential future employment with LendEx, such as Your CV, resume or candidacy related information, and if we determine (in our absolute discretion) that we may consider You for potential future employment, we may keep the unsolicited information on our human resource records.
How You can access or correct Your employment-related personal information
You can contact us by phone, email or postal mail and request access to Your personal information. In most cases, we will give You full access to Your personal information, however there may be some legal or administrative reason to deny You access - in which case we will tell You our reason.
You may request amendments, corrections or deletions if Your personal information is inaccurate, outdated or incomplete.
To contact us or to make a complaint in relation to this Policy, please direct Your enquiry to our Privacy Officer on the details set out below:
1300 536 339
LendEx RE Ltd
We will keep a record of the complaint and any action taken in our Register of Complaints.
- You must always keep your User Credentials confidential. You must not disclose your or any part of your User Credentials to another person. If you know or think that someone may know any part of your User Credentials, you must tell us immediately and you must change your Password and/or Personal Security Verification Questions, as applicable, immediately.
- You must not record, store or carry your Password with you (unless it is reasonably disguised).
Your Password and/or Personal Security Verification Questions must be unique and not easily guessed or obtained by others. This means you must not set your Password or Personal Security Verification Questions so as to use:
- your date of birth;
- your personal identification number (PIN) or password used on another website;
- an alphabetical code which is a recognisable part of your name;
- sequential numbers (either ascending or descending), for example “1 2 3 4 5”; or
- all of the same numbers, as your password or a part of your password.
The security of your information depends on you using safe practices. You agree that when using the Platform and Services, you will take all steps necessary to make sure that you do not reveal any confidential information to anyone, other than through the Platform and Services for the purpose of providing your instructions or undertaking a transaction (e.g. an investment order). This includes making sure that other people cannot see the screen or key pad on your computer or mobile device or listen to your conversation if calling us telephonically, as applicable.
- You must make reasonable efforts to maintain security over any computer or mobile device through which you log on to our Platform;
- You must log out after each time you have logged in to the Platform to prevent anyone else from accessing your Account;
- You must not leave your computer or mobile device unattended while logged into the Platform and you must use reasonable steps and precautions to protect your computer or mobile device against loss or theft; and
- You must notify us immediately if you become aware of any unusual, suspicious or potentially fraudulent activity in your Account(s).
- You agree to implement and maintain reasonable security measures which include up-to-date virus protection software and a firewall system, if such security measures are available for your computer or mobile device.
- You agree to comply with any additional security requirements that we may require in connection with your use of the Platform and Services from time-to-time.
- You agree that where your User Credentials (i.e. MIN and Password) are used to log in to our Platform, we will assume that you are the person seeking access to our Services and we will provide access to those parts of our Platform for which you are required to log on, and that we can rely on any instructions provided without seeking any further confirmation from you.
You agree to immediately call us on 1800 536 339 if you discover that your MIN, Password or Personal Security Verification Questions have become known to or used by another person.
Following such a call, we will immediately reset your password.