Updated 5 February 2018
Thanks for visiting our website and considering the use of our services and products. This agreement sets out the terms and conditions relating to the provision of our products and services to you.
1.1 This Agreement is between PartPay Limited (referred to as PartPay, us, we or our) and you (referred to as you or your).
2.1 In this Agreement, unless the context otherwise requires:
“Business Day” means any day other than a Saturday or Sunday on which registered banks are open for ordinary banking business in Auckland, New Zealand.
“Card” means a validly issued New Zealand credit or debit card.
“Default Fee” means NZ$8 and a further $8 per week for every week the relevant Instalment Payment or part thereof is unpaid in accordance with the Instalment Plan subject to the maximum cap as described in the Disclosure Statement.
“Disclosure Statement” means the disclosure statement at the front of this Agreement containing important information about the Instalment Plan.
“Establishment Fee” means the establishment fee as described in the Disclosure Statement.
“Goods” means the goods or services you are buying from the Retailer Site, which we are financing via the Instalment Plan.
“GST” means goods and services tax chargeable under the Goods and Services Tax Act 1985.
“Instalment Plan” means the fortnightly payment plan, showing the amounts due by you, including any Default Fee, and the date on which such amounts are due and described on our Platform as the PartPayment Schedule.
“Instalment Payment” means a specified payment contained in an Instalment Plan.
“Instalment Period” means the 14-day period between each Instalment Payment as specified in an Instalment Plan.
“Interest Rate” means the interest rate specified in the Disclosure Statement and applied to the Unpaid Balance for an Instalment Period and payable in accordance with the Instalment Plan.
“Platform” means the proprietary technology platform developed by PartPay and which manages the Services and includes the user interface by which you submit your information (including your Card details) and sets out the Instalment Plan.
“Retailer” means a partner retailer who has integrated the Retailer Site with our PartPay Platform in order to provide our Service.
“Retailer Site” means the e-commerce site of the Retailer.
“Service” means the offer to finance the purchase of Goods via a Retailer Site based on an Instalment Plan and subject to our approval requirements.
“Transaction Value” means the full amount of the Goods as charged by the Retailer, including any GST and shipping costs.
“Unpaid Balance” means the principal amount outstanding at any point under an Instalment Plan.
“Website” means www.partpay.co.nz and any information or policies contained therein.
“Weekly Service Fee” means the weekly fee as described in the Disclosure Statement.
3 OUR CORE AGREEMENT
3.1 Upon acceptance on our Platform, we agree to pay the relevant Retailer for the Goods you have selected to purchase on your behalf and you agree to pay us in accordance with the Instalment Plan and the terms and conditions contained in this Agreement and this amount payable by you is a debt due to us.
3.2 The Goods you have purchased are governed by the relevant terms and conditions and policies of that Retailer. Your relationship with respect to the Goods is with the Retailer. Your relationship with respect to the Instalment Plan is with us.
3.3 Once you have entered an Instalment Plan, other than in accordance with your cancelation rights as described in the Disclosure Statement, we cannot amend or cancel any such Plan without written confirmation from the Retailer in accordance with clause 8 Refund Arrangements.
4 OUR OBLIGATIONS AND ACKNOWLEDGEMENTS
4.1 If accepted by our Platform in accordance with our responsible lending and credit policies, and if you agree to the Instalment Plan and the arrangements described in the Disclosure Statement, PartPay shall pay to the Retailer the Transaction Value on account of the Goods on your behalf such that the sale and purchase of the Goods is completed via the Retailer’s Site.
4.2 We do not guarantee access to our Services and reserve the right to withhold approval from our Platform, Services or any new Instalment Plan at our discretion. This may even occur for identical purchases where you have previously paid the instalments in full and on time. Our Platform takes into account a number of factors including third party technology and service providers, features attributable to previous and current transactions, funding constraints, and repayment history and we do not provide any detailed explanation why a purchase may or may not be approved by our Platform. Where you have entered into an Instalment Plan, we will continue to fulfil our obligations to you unless the Instalment Plan is terminated in accordance with this Agreement.
4.3 To the extent permitted by law, we do not guarantee and have no responsibility for:
(a) the suitability, quality or merchantability of any Goods purchased by you through our Instalment Plan or via the Platform,
(b) the availability or delivery of any Goods,
all of which are the responsibility of the Retailer.
5 YOUR OBLIGATIONS AND ACKNOWLEDGEMENTS TO US
5.1 In return for us paying the Retailer on your behalf for the Goods, you agree to pay us in accordance with the Instalment Plan plus any applicable Default Fees if any Instalment Payment is not received.
5.2 You are aware we are relying on the information you provide to us and confirm that all information you have provided to us is true, correct and not misleading. In particular you confirm you are over 18 years of age, have a current address in New Zealand, a valid drivers licence and have authorised access to a valid New Zealand debit or credit card.
5.5 You unconditionally and irrevocably agree that we are entitled to charge your Card in accordance with the Instalment Plan including any Default Fees payable. You agree to have available funds on your Card or otherwise pay the Instalment amount on or before the date due in accordance with the Instalment Plan.
5.6 You are liable for any fees or costs that your bank may charge you arising out of us taking any payment or attempting to take any payment from your Card in accordance with the Instalment Plan.
5.7 You agree that in the event of non-payment of any Instalment under an Instalment Plan, we may appoint a third party collection agency to collect any amounts owing and this does not require your consent or agreement.
5.8 You agree not to make any set off or other deduction from any Instalment Payment for any reason including any dispute or issue you may have with the Retailer, the Retailer Site or in relation to the Goods supplied by the Retailer.
5.9 You agree to pay all amounts under the Instalment Plan irrespective of any issue or dispute with respect to the Goods or the Retailer regardless of whether you currently own or have the Goods in your possession.
5.10 You agree that we are not responsible for the delivery, suitability or quality of any Goods you have elected to purchase and you agree to contact the Retailer in the event of any issue with the Goods or you wish to return any Goods.
5.11 You agree to keep any account details and password you may have private and confidential and that you are responsible for any unauthorised use of your account, unless any unauthorised use is a result of our negligence. You also agree to contact us immediately if you suspect your account may be used by a unauthorised third party or there is any other suspected fraudulent activity.
5.12 You agree that is is your responsibility to keep your account log on details and any password safe and secure and that you are responsible for any orders placed using your account details unless any breach of security was caused by us.
5.13 You agree that each Instalment Plan is a new transaction and the use of the Platform and our Services and the entry into any new Instalment Plan is at our discretion and there is no guarantee that the Platform or Services will be available for any purchase of Goods.
6 INTEREST AND FEES
6.1 The Instalment Plan charges interest as described in the Disclosure Statement. The total amount of interest you are required to pay under this Agreement in relation to a specific Instalment Plan is calculated by dividing the Interest Rate by 26 to determine the fortnightly interest rate, and then multiplying that rate by the then Unpaid Balance relating to that Instalment Period.
6.2 If you prepay part or all of the Unpaid Balance, the amount of interest that you are required to pay for the fortnight in which you make the prepayment will be calculated by multiplying the fortnightly interest rate by the average daily unpaid balance for that Instalment Period.
6.3 The total amount of interest charged under this Agreement does not exceed the maximum aggregate amount permitted to be charged under the CCCFA.
6.4 The Instalment Plan also includes an Establishment Fee and Weekly Service Fee, calculated in accordance with the Disclosure Statement. No fee is charged for you to have an account and log on with us.
6.5 In the event of a non-payment of an Instalment Payment, a Default Fee is charged in accordance with clause 7 below.
7 NONPAYMENT AND DEFAULT FEES
7.1 In the event we cannot take payment from the Card you have provided to us on the date specified in the Instalment Plan, we shall attempt to take a payment of unpaid amounts, including any Default Fee, from your Card, and at dates that may be outside of the Instalment Plan, at our discretion.
7.2 If we have not received an Instalment Payment on its due date (other than due to a banking systems error which we are aware of or an error on our part), we will automatically add a Default Fee to your account unless you have notified us of a genuine dispute under clause 2.
7.3 PartPay reserves the right, in its absolute discretion to waive or defer any Default Fee. The aggregate amount of Default Fees that can be charged in relation to any one Agreement relating to a specific purchase of Goods and the related Instalment Plan shall be capped at $40, without prejudice to PartPay’s ability to seek collection for any amounts unpaid under the Instalment Plan and unpaid Default Fees. Any express election we make to temporarily or permanently waive payment by you of a Default Fee or other amount due to us under an Instalment Plan does not imply a waiver of any other amount due and we reserve all rights to make demand for such amounts.
7.4 PartPay may refer any Instalment Plan in default to a third party collection agency. In addition to the outstanding Instalment Payments and any Default Fees, you will also be liable for any reasonable costs incurred in enforcing this Agreement including legal fees and the cost of third party collection agents. In addition, PartPay may report your repayment history, including late payments, defaults, chargebacks and any fraudulent activity, to credit bureaus and collection agencies. In particular, information about any late payment or default may be provided to a credit bureaus and that information may be added to your credit report and provided to other customers of that credit bureau. A credit bureau may hold that information as part of its database and use it as part of the service it provides.
8 REFUND ARRANGEMENTS
8.1 Any full or partial return of the Goods is subject to the Retailers returns policy. You agree to comply with any such returns policy, including the condition or returned Goods and any timing requirements. All communications with respect to any return must be made with the Retailer. We cannot deal with any of these matters directly with you.
8.2 We will only amend an Instalment Plan and process any Refund once the Retailer has requested us to do so in writing. The Instalment Plan is automatically adjusted by our platform by applying the refund amount to the instalment amount and calculating a revised Interest Charge. Depending on the amount of the refund, it is possible that the Instalment Plan is reduced by 1 or more instalments. For full refunds, we will process a repayment to you depending on the number of instalments we have taken.
8.3 Nothing in this Agreement or clause limits your rights under relevant New Zealand consumer protection legislation, including the Consumer Guarantees Act and the Fair Trading Act.
8.4 Refunds where a cash refund is due will be processed back onto your original Card. The timing will depend on your bank and can take up to 7 business days.
9 OUR COMMUNICATIONS WITH YOU
9.1 If we need to get in touch we will either call or text your mobile number or use your email that you have provided.
10 GOODS AND SERVICES TAX
10.1 We do not apply separate GST to the Transaction Value of the Goods you have purchased.
11 INTELLECTUAL PROPERTY
11.1 All intellectual property in our Platform and Website, including any content, images, logos or graphics are owned by us. You must obtain our written permission if you wish to use any any such intellectual property.
12.1 You may not assign, novate or otherwise transfer this Agreement, the Instalment Plan or any Instalment Payment without our consent, which may be withheld in our absolute discretion.
12.2 We may assign this Agreement, any right in this Agreement, or any Instalment Plan or any Instalment Payment to a third party without your consent.
13 LIMITATION ON LIABILITY
13.1 Except for claims against us under the Consumer Guarantees Act 1993 in relation to the Services we provide under this Agreement:
(a) our liability for all and any claims arising out of or in connection with this Agreement, or our services, whether arising in contract, tort (including negligence) or otherwise will not exceed the value total value of the Instalment Plan to which the relevant claim relates.
(b) neither party has any liability to the other for any indirect, consequential or economic loss howsoever arising, whether in contract, tort (including negligence) or otherwise.
14 DISPUTE RESOLUTION
14.1 Any dispute with a Retailer or in any way connected with the delivery, quality or suitability of the Goods must be raised direct with the Retailer.
14.2 If you have any concerns or dispute with us or our Service, please contact us on:
Phone: 09 489 8144
Address: PartPay Limited, c/- level 3, 3-45 Hurstmere Road, Takapuna, Auckland
14.3 We are registered under the Financial Service Providers (Registration and Dispute Resolution) Act 2008.
15.1 This Agreement is intended to be for the benefit of, and enforceable by, any affiliate or subsidiary of ours for the purposes of the Contract and Commercial Law Act 2017.
15.2 Nothing in this Agreement shall create, constitute or evidence any partnership, joint venture, agency, trust or employer/employee relationship between us.
15.3 No waiver of any breach of this Agreement shall be deemed to be a waiver of any other, or any subsequent, breach. No failure or delay by any party in exercising any rights, power or privilege under this Agreement shall operate as a waiver, nor shall any single or partial exercise preclude any other or further exercise of any right, power or privilege under this Agreement.
15.4 This Agreement constitutes the entire agreement between us as it relates to a specific purchase of Goods and the relevant Instalment Plan. Each new purchase of Goods and associated Instalment Plan shall form a new Agreement.
15.5 If any provision of this Agreement is held to be invalid, illegal or unenforceable, it will be severed and the remainder of the Agreement will remain in full force and effect.
15.6 This Agreement shall be governed by and interpreted in accordance with the laws of New Zealand. The parties irrevocably agree that the courts of New Zealand shall have non-exclusive jurisdiction.