Terms & Conditions

SECTION 1 – INTRODUCTION

1. Application of these Terms and Conditions
1.1 These terms and conditions (Terms) should be read in conjunction with the Disclosure Statement and together form our agreement with you (Agreement) in relation to the Loan.
1.2 This Agreement is drafted on the basis that it is a Consumer Credit Contract (as defined in the CCCFA). You agree that you do not enter into this Agreement for business or investment purposes.
1.3 These Terms are divided into four sections. Section 3 of these Terms only apply if you have agreed to provide security for the Loan.

2. Interpretation
2.1 In this Agreement, the following words have the following meanings:
2.1.1 References to us, our and we are references to Rhino Solutions Limited (company no. 8170257) and includes our successors and assigns;
2.1.2 References to you and your are references to the person entering into this Agreement, including your successors;
2.1.3 CCCFA means the Credit Contracts and Consumer Finance Act 2003;
2.1.4 Collateral means all of your right, title and interest in the property set out the schedule to this Agreement (if completed);
2.1.5 Disclosure Statement means the initial disclosure statement which we provide to you headed “Disclosure Statement for Consumer Credit Contracts”;
2.1.6 Event of Default means an event set out in clause 9.1;
2.1.7 Loan means the loan that we agree to provide to you, governed by this Agreement;
2.1.8 Loan Application means the application for a Loan;
2.1.9 Outstanding Balance means the balance of the amount owing by you to us under or in connection with this Agreement;
2.1.10 Personal Information means personal information about you, including your name, address, date of birth, other personal details, details of your assets, liabilities, income, credit history, amounts required to repay under any existing financial arrangements you may have;
2.1.11 PPSA means the Personal Property Securities Act 1999;
2.1.12 Privacy Policy means our privacy policy from time to time, setting out how we will manage your Personal Information;
2.1.13 Security Interest means an interest in personalTFCS-260197-2-10-V2
2.1.14 Working Day means a day of the week other than:
(a) a Saturday, a Sunday, Waitangi Day, Good Friday, Easter Monday, Anzac Day, the Sovereign’s birthday, Te Rā Aro ki a Matariki/Matariki Observance Day, and Labour Day; and
(b) If Waitangi Day or Anzac Day falls on a Saturday or a Sunday, the following Monday; and
(c) A day in the period commencing with 25 December in a year and ending with 2 January in the following year; and
(d) If 1 January falls on a Friday, the following Monday; and
(e) If 1 January falls on a Saturday or a Sunday, the following Monday and Tuesday.
2.2 In this Agreement unless the context otherwise requires:
2.2.1 Reference to any party includes that party’s personal representatives, successors and/or permitted assigns (as the case may be);
2.2.2 Words importing the singular shall include the plural and vice versa;
2.2.3 Words importing the masculine shall include the feminine;
2.2.4 Reference to a person includes an individual, partnership, firm, company, corporation, association, trust, estate;
2.2.5 Reference to any legislation is reference to New Zealand legislation and include all subordinate legislation, any re-enactment of, or amendment to, that legislation and all legislation passed in substitution for that legislation;
2.2.6 Reference to this Agreement shall be deemed to include references to this Agreement as varied or amended;
2.2.7 Any obligation not to do anything includes an obligation not to suffer, permit or cause that thing to be done;
2.2.8 Reference to clauses are to clauses of these Terms;
2.2.9 References to clause and other headings are for convenience only; and
2.2.10 The term includes or including (or similar) is deemed to be followed by the words without limitation.

SECTION 2 – LOAN TERMS

3. Loan
3.1 We shall provide you with the Loan in accordance with this Agreement.
3.2 Loans are only available to individuals who live in New Zealand and are either nationals of New Zealand or have a valid residence or work visa for New Zealand.
3.3 We are not bound to accept any Loan Application.TFCS-260197-2-10-V2
3.4 Without limiting our right to refuse any Loan Application, provision of a Loan is conditional on you providing all Personal Information (including by carrying out credit checks) that we in our absolute discretion are satisfied with.

4. Repayment of Loan
4.1 You shall repay the Loan by making payments to us on the dates and in the amounts set out in the Disclosure Statement.
4.2 You must make payments without set off or deduction by bank transfer to the account specified by us or such other manner as we may from time to time agree.
4.3 If you make a payment before the date that it is due, we will not be required to credit you with that payment against the amount you owe us until the date the payment is actually due. This clause does not apply to the repayment of the Outstanding Balance in full in accordance with clause 5.
4.4 If we do not accept the early payment, we will refund it to you as soon as practicable.
4.5 We shall be entitled to determine the order in which payments are applied.

5. Full Repayment
5.1 You are entitled to pay the Outstanding Balance in full at any time.

6. Interest
6.1 You shall pay interest on the Loan at the annual interest rate set out in the Disclosure Statement.
6.2 If you fail to make payment when due default interest shall be payable on overdue amounts at the default interest rate set out in the Disclosure Statement.

7. Fees and Charges
7.1 The Disclosure Statement sets out the credit fees, default fees and administrative costs that you may be required to pay under this Agreement.
7.2 You will also pay:
7.2.1 Any amounts incurred or paid by us as a result of a breach by you of your obligations under this Agreement (including debt collection charges or repossession fees of third parties);
7.2.2 Any amounts incurred or paid by us in enforcing or attempting to enforce any of the provisions of this Agreement;
7.2.3 Any amounts incurred or paid by us in maintaining our interests and/or exercising rights under this Agreement; and
7.2.4 Any other amounts that we are entitled to recover from you under this Agreement.

8. Cancellation
8.1 You are entitled to cancel this Agreement by giving notice to us within 7 Working Days of the date that we serve the Disclosure Statement on you. Full details of this right and its conditions are set out in the Disclosure Statement.

9. Events of Default
9.1 Each of the following constitutes an Event of Default:
9.1.1 You fail to make a payment to us when it is due under this Agreement;
9.1.2 You fail to comply with any other obligation under this Agreement;
9.1.3 You commit or suffer an act of bankruptcy or are made bankrupt;
9.1.4 You make a compromise or arrangement with your creditors;
9.1.5 You otherwise become insolvent or steps are taken that we reasonably believe will cause you to become insolvent;
9.1.6 Any judgment against you remains unsatisfied for 10 days;
9.1.7 We discover that you have given us false or misleading information;
9.1.8 You die or become of unsound mind;
9.1.9 Where you have agreed to provide security for the Loan:
(a) Any distress or execution is levied against the Collateral; or
(b) The Collateral is “at risk” as defined in the PPSA.

10. Consequences of Events of Default
10.1 If an Event of Default occurs we may:
10.1.1 Require you to pay the Outstanding Balance and all other amounts you owe to us under this Agreement;
10.1.2 Terminate this Agreement;
10.1.3 Report or register defaults against your name at credit reporting agencies (if applicable); and
10.1.4 Do anything else that we are permitted to do at law and under this Agreement.
10.2 Termination of this Agreement shall not affect our right to the Outstanding Balance and all other amounts you owe to us under this Agreement.

SECTION 3 – SECURITY

11. Application of this Section
11.1 This section, comprising clauses 11 to 19, applies if you have agreed to provide security for the Loan.

12. Charging Clause
12.1 To secure payment of the Outstanding Balance you grant us a security interest in the Collateral and any proceeds of that Collateral.
12.2 You agree that any of the proceeds of the Collateral that come into existence after you enter into this Agreement will come into existence subject, where applicable, to the security interest granted by this Agreement without the need for any further action by either of us.
12.3 You acknowledge that:
12.3.1 You have received valuable consideration from us and that such consideration is sufficient; and
12.3.2 The security interest created under this Agreement attaches immediately and is not postponed.
12.4 The security interest created under this Agreement:
12.4.1 Is a continuing security for payment of the Outstanding Balance;
12.4.2 Is additional to any other security interest held by us from time to time; and
12.4.3 Remains in effect until released in writing by us.

13. Warranties
13.1 You represent and warrant:
13.1.1 You are the sole legal and beneficial owner of the Collateral;
13.1.2 The Collateral is in your possession in New Zealand;
13.1.3 No security interest, or agreement to create a security interest, exists over the Collateral; and
13.1.4 You have full power and authority to create a security interest over the Collateral.

14. Undertakings and Covenants
14.1 You undertake that at all times you will:
14.1.1 Not without our consent dispose of the Collateral;
14.1.2 Not create or permit to exist a security interest affecting any Collateral (apart from the security interest created under this Agreement);
14.1.3 Keep and maintain the Collateral in good and substantial repair and condition; and
14.1.4 Not do anything to invalidate or render any security interest invalid or unenforceable.

15. Insurance
15.1 You undertake that you will effect and at all times maintain insurance policies under which all Collateral is insured for its full replacement value against loss or damage by all risks that it is prudent to insure against.
15.2 If required by us, you shall ensure that we are named as an interested party on the relevant insurance policies.

16. Enforcement of Security
16.1 The security interest created under this Agreement will become immediately enforceable without notice to you giving us the rights set out in clause 16.2 if an Event of Default occurs.
16.2 If a security interest becomes enforceable we will be entitled to do anything in relation to the Collateral that you would be entitled to do including (subject to applicable law):
16.2.1 Entering on land where the Collateral is located;
16.2.2 Taking possession of and getting in the Collateral; and
16.2.3 Selling the Collateral as we may think fit on such terms as we may think fit.

17. Proceeds
17.1 All proceeds of the sale of Collateral or arising from or in connection with the exercise of any of our rights shall be applied, subject to any valid prior ranking claim, as follows:
17.1.1 Payment of costs and expenses incurred by us under this Agreement;
17.1.2 Payment of the remainder of the Outstanding Balance; and
17.1.3 Payment of the residue (if any) to those entitled to any surplus.

18. Costs and Expenses
18.1 The charges payable by you under clause 7.2 include costs and expenses incurred by us in connection with:
18.1.1 The preparation and registration of any financing statement and any variation, discharge or transfer of any financing change statement; and
18.1.2 The protection of the security interest created under this Agreement.

19. Exclusion of sections of the PPSA
19.1 You waive your right to receive a verification statement in respect of any financing statement or financing change statement registered by us in respect of the Collateral.
19.2 You agree that the following sections of the PPSA shall not apply to this Agreement or the security created by this Agreement and you waive your rights under the following sections of the PPSA:
19.2.1 Section 114(1)(a): Right to receive notice of sale of Collateral;TFCS-260197-2-10-V2
19.2.2 Section 116: Right to receive statement of account;
19.2.3 Section 120(2): Right to receive notice of proposal to retain Collateral;
19.2.4 Section 121: Right to object to sale of Collateral;
19.2.5 Section 125: Right not to have goods damaged when accession removed;
19.2.6 Section 129: Right to receive notice of removal of accession;
19.2.7 Section 131: Right to apply to court re the removal of an accession;
19.2.8 Section 132: Right to redeem Collateral; and
19.2.9 Section 133: Right to reinstate security agreement.

SECTION 4 – MISCELLANEOUS AND GENERAL

20. Continuing and Request Disclosure
20.1 Where we are required under the CCCFA to provide you with regular statements about your account (continuing disclosure statements) these will be provided every six months during the existence of this Agreement (subject to clause 20.2).
20.2 Our website may enable you to access and download the information that is contained in an initial disclosure statement and where this is the case you consent to continuing disclosure being provided in this way.
20.3 You may request that certain matters be disclosed to you under section 24 of the CCCFA and we will provide you with this disclosure if it is required under the CCCFA.

21. Unforeseen Hardship Changes
21.1 If you are unable reasonably, because of illness, injury, loss of employment, the end of a relationship, or other reasonable cause, to meet your obligations under this Agreement you should apply to us to seek to change these Terms.
21.2 The procedure for making an application is set out in the Disclosure Statement.

22. Personal Information
22.1 We will use your Personal Information in accordance with our Privacy Policy.

23. Change in name and address
23.1 You must notify us in writing of any pending change to your name, address or contact details before the change occurs.

24. Notices
24.1 All notices and other communications to us shall be in writing and delivered to us by hand, by post or by e-mail and sent to the relevant address as set out in the Disclosure Statement or to such other address as we may advise from time to time.
24.2 All notices and other communications to you shall be in writing and delivered to you by hand, by post or by e-mail and sent to the relevant address as set out in your Loan Application or to such other address you may inform us of from time to time.24.3 Any notice given to or served on you by:
24.3.1 Personal delivery shall be deemed served on the day of delivery;
24.3.2 Letter shall be deemed to have been given or sent two Working Days after being deposited in the post; and
24.3.3 Email shall be deemed served when the notice enters your information system, if this occurs within business hours in the place where you are located in New Zealand, but, if not then at 9.00 a.m. on the following Business Day in such place.
24.4 The modes of service provided in this clause do not limit any effective method of service permitted under any relevant statute.
24.5 We may also send communications to you by SMS using the number provided by you in your Loan Application.
24.6 Nothing in this clause affects the rules as to when disclosure is made under the CCCFA.

25. Right of set off
25.1 We are entitled to set off any amount that we may owe to you against any amount that you owe us under this or any other agreement.

26. Variations
26.1 Except as expressly provided otherwise this Agreement may only be varied or modified by agreement in writing. Any variation or modification of this Agreement does not prejudice or affect any other provision of this Agreement.
26.2 We will provide you with disclosure of any variation of this Agreement in accordance with the CCCFA.

27. Further Assurance
27.1 You shall sign all documents and do all acts, matters or things that we reasonable require in order to give effect to the provisions and intent of this Agreement and so that we may obtain the full benefit of this Agreement including, where you have provided a security interest, to:
27.1.1 Perfect and renew any security interest; and
27.1.2 Realise any Collateral.

28. Entire Agreement
28.1 This Agreement is the entire agreement and supersedes any and all previous communications, negotiations, arrangements and agreements, whether written or oral, between you and us in respect of the matters that are the subject of this Agreement.
28.2 You acknowledge that you do not rely on any representations or warranties which have not been specifically set out in this Agreement.

29. Assignment
29.1 We may assign, transfer and/or sub-contract all or any of our rights, title, interests under this Agreement to any person at any time without your consent.
29.2 You must not assign, transfer, charge, encumber, mortgage, or otherwise part with any of your rights or obligations under this Agreement.

30. Waiver
30.1 A failure by us to exercise a right that we have under this Agreement is not a waiver of that right unless the waiver is in writing. We may exercise it at a later time if we choose to do so.

31. Severance
31.1 If any of these Terms are illegal, unenforceable or not binding, the other Terms shall be unaffected.
32. Governing Law and Jurisdiction
32.1 This Agreement is governed by the laws of New Zealand and you agree to submit to the non-exclusive jurisdiction of the New Zealand courts.