Terms & Conditions

These consumer terms and conditions form the basis of your Continuing Credit Contract with Payright for your Payright Account

The full details of your Continuing Credit Contract with Payright are included in:

  • these Terms and Conditions (as amended from time to time);
  • the Application; and
  • each Credit and Disclosure Statement.

Capitalised words in this document have the meaning given ti them in clause 12 below.

  1. How to apply for your Payright Account

1.1 An application for a Payright Account can be made at a Participating Merchant by completing an Application and entering into a Credit and Repayment Schedule in relation to a proposed purchase. You can either complete your application online or in paper form. The online application form can be completed by either yourself or a Participating Merchant on your behalf.

1.2 If your application is approved, you will be provided with an amount of credit to apply to your intended purchase from that Participating Merchant. This amount of credit is your Initial Credit Amount.

1.3 If you wish to make subsequent purchases using your Payright Account, you will be required to complete a new Application and meet the conditions in clauses 3.3 and 3.4.  An updated Credit and Disclosure Statement will be provided to you in relation to each subsequent purchase. Each application for credit will be assessed at the time it is made.

1.4 A Payright Account can only be used to make purchases from Participating Merchants.

1.5 By providing the authentication number contained in the SMS sent to your nominated mobile telephone number or by submitting your Application, you accept these Terms and Conditions and agree to be bound by them.

1.6 To apply for a Payright Account you must (among other things):
(a) be an New Zealand citizen or permanent resident;
(b) be over 18 years of age;
(c) be deriving an income;
(d) if employed or in contracted or regular casual arrangement of work, provide your employer’s details for verification purposes;
(e) provide a valid New Zealand driver’s licence or New Zealand passport, when you apply for your Payright Account; and
(f) provide a suitable credit or debit card or bank account details in your name for the purpose of authorising regular direct debit repayments.

  1. Your representations

2.1 By accepting these Terms and Conditions you acknowledge that Payright has agreed to establish your Payright Account based on the information contained in your Application. You represent and warrant to Payright that the information that you have provided in your Application is true and correct in every respect and that your are eligible to apply for a Payright Account. If any of your personal details change (including your name or any contact details) or there is any change to your financial situation that may make it difficult for you to meet your repayment obligations under your Payright Account, then you must notify Payright as soon as practicable. If you do not notify Payright of any changes to your personal information or financial situation then Payright will not be responsible for any issues or claims that may arise as a result of it being unaware of your changed circumstances.

2.2 By accepting these Terms and Conditions you also:

(a) consent to Payright using your personal information to administer your Payright Account, in accordance with Payright’s Privacy Policy and these Terms and Conditions and for the other purposes set out in the Payright Privacy Policy;
(b) consent to Participating Merchants using your personal information to administer and facilitate your purchases and related payments;
(c) consent to Payright using your personal information in its dealings with credit reporting agencies in relation to your application for a Payright Account and Payright’s subsequent management of your Payright Account;
(d) agree to repay all amounts charged to your Payright Account including all applicable fees and charges and any other amount properly charged in accordance with this Continuing Credit Contract; and
(e) warrant that the account details that you have provided in the Application for the purpose of the direct debit payments are true and correct, that you are the account holder of the nominated account and that direct debiting is available in connection with that account.

  1. How your account works

3.1 When Payright receives your Application it will assess your application for credit in relation to the proposed purchase. Payright reserves the right to approve or deny your initial application at its complete discretion. If it is your first application and Payright decides to approve your Application, Payright will:

  • If you have signed a paper copy of an Application, notify you that your Application has been conditionally approved and provide you with details of your proposed Payright Account and copies of (or links to) all documentation setting out the terms of your Continuing Credit Contract. With immediate effect upon the later of your confirmation and agreement to those terms (as evidence by your confirmation {electronic or otherwise} of the same and upon the provision of one or both of;
    • Your direct debit details to Payright;
    • Payment of the required deposit for the relevant purchase to Payright or the Participating Merchant,

You will enter into a continuing credit contract with Payright and your Payright Account will be opened and you will be provided with details of your Payright Account and copies of all documentation setting out the terms of your Continuing Credit Contract; or

  • If you (or a Merchant on your behalf) have submitted an electronic Application, notify you that your Application has been conditionally approved and provide you with details of your proposed Payright Account and copies of (or links to) all documentation setting out the terms of your Continuing Credit Contract. With immediate effect upon the later of your confirmation and agreement to those terms (as evidence by your confirmation {electronic or otherwise} of the same and upon the provision of one or both of;
    • Your direct debit details to Payright;
    • Payment of the required deposit for the relevant purchase to Payright or the Participating Merchant,

You will enter into a continuing credit contract with Payright and your Payright Account will be opened and you will be provided with details of your Payright Account.

After your Payright Account has been opened, you will be able to use it for your proposed purchase.

Further Credit

3.2 After the Initial Credit Amount is advanced, the Amount of Credit available through your Payright Account will be set to zero. You will not be able to request any further credit advances to make subsequent purchases until you have repaid some of the Initial Credit Amount.

3.3 Subject to clause 3.4, if you already have a Payright Account and you have repaid some of the Initial Credit Amount and any fees and charges, you may request further amounts of credit. The amount you may request is the difference between your Credit Limit and the amount outstanding under the Payright Account.

3.4 Payright will only approve your request for a further advance if:

(a) you have completed an Application;
(b) the advance is for a purchase from a Participating Merchant;
(c) you are not in default under this Continuing Credit Contract and you have not been late on more than 3 repayments;
(d) your Payright Account has not been closed, suspended or terminated;
(e) you provide any documentation necessary by Payright or the Participating Merchant to consider your application; and
(f) you provide any documents Payright may reasonably require from time to time.

3.5 A separate Credit and Disclosure Statement will be provided for each subsequent purchase.

3.6 You may not be entitled to use your Payright Account to pay for the entire cost of a purchase from a Participating Merchant. After assessing your Application, Payright will advise the Participating Merchant of the Amount of Credit available to you in relation to the proposed purchase. You may be required to pay part of the purchase price by way of deposit. Payright will advise the Participating Merchant of the minimum deposit required in relation to a particular purchase (if any). You must pay any required deposit either directly to the Participating Merchant or directly to Payright. You will not be able to apply your Payright Account to the balance until the deposit has been paid and the Participating Merchant confirms they have provided or delivered the purchase.

Transfer and Review

3.7 Your Payright Account is not transferrable and can only be used by you.

3.8 Payright may review your Payright Account at any time and you must provide Payright with any information it reasonably requires to conduct such review.

Cancellation

3.9 In addition to your statutory rights to cancel a credit contract (as detailed in the Credit and Disclosure Statement), you may cancel your Payright Account at any time by notice to us provided any outstanding amounts have been paid and your Payright Account balance is zero.

3.10 Payright may close your Payright Account if outstanding amounts have been paid and your account balance has been zero for at least 12 months. Payright will give you 30 days’ notice of its intention to close your account.

3.11 You must pay any outstanding amounts due under your Payright Account immediately on giving or receiving notice that it is to be closed.

3.12 If you wish to open a new Payright Account after your Payright Account has been cancelled, you will have to re-apply to Payright. Payright reserves the right to approve or deny this new Application at its sole discretion. If your Application for a new Payright Account is approved, it will form a new Continuing Credit Contract between you and Payright.

  1. Fees and charges

4.1 Payright will not charge you any interest on any credit provided by us to you through your Payright Account. However, you will be required to pay the fees set out in the Credit and Disclosure Statement.

Account Keeping Fees

4.2 While your Payright Account remains active, Payright may continue to charge Account Keeping Fees which will be debited from your nominated account in accordance with the direct debit direction in the Application or otherwise provided in connection with your Application. This Account Keeping Fee will be a monthly charge. Where there is an outstanding amount due under an existing Continuing Credit Contract the monthly Account Keeping Fee will be debited at the same time as a weekly/ fortnightly/ monthly repayment is due under the relevant Continuing Credit Contract and pro-rated for each repayment within a month.  Where the principal amount of all credit advances have been fully repaid, Account Keeping Fees will be charged monthly on the final day of the month.

Other Fees

4.3 As detailed in the Credit and Disclosure Statement, additional fees are payable in connection with:

  • Establishment Fee: establishing your new Payright Account;
  • Payment processing fee: processing any payment or repayment you make to us (including any additional repayment);
  • Repeat purchases: making any additional purchases using your Payright Account; and
  • Statement administration fee: if requested by you, providing you with a paper copy of any statement, notice or other information sent to you by email (unless such information is required by law to be provided free of charge).

 

Default fees

4.4 You may also be required to pay additional reasonable fees related to the enforcement of the Continuing Credit Contract if you are in Default, such as Late Payment Fees and Enforcement Fees (as detailed in clause 8 below and the Credit and Disclosure Statement).

How Fees are Charged

4.5 Payright may charge to your Payright Account any fees or charges arising under the Continuing Credit Contract including any Late Payment Fees or Enforcement Fees.

  1. Making purchases

5.1 You will be required to submit an Application and agree to  a Credit and Disclosure Statement in relation to each purchase you make using your Payright Account. The Credit and Disclosure Statement will set out the:

(a) establishment fee (for new Payright Accounts only);
(b) Amount of Credit applicable to the purchase;
(c) total purchase price;
(d) number and amount of minimum repayments required;
(e) frequency of payments under the direct debit repayment plan; and
(f) applicable fees and charges.

5.2 Your Payright Account will remain active and available for you to make additional purchases unless your Payright Account is closed in accordance with these Terms and Conditions.

Refunds

5.3 If, for any reason, you request or obtain a refund of all or part of the relevant purchase price from a Participating Merchant, you unconditionally and irrevocably authorise us to receive the refund proceeds on your behalf from the Merchant and deduct all amounts owed to Payright in connection with that purchase before paying the balance of the refund proceeds to you.

  1. Making payments

6.1 Payments will be made by direct debit at regular intervals in accordance with the direct debit information provided by you in the Application and these Terms and Conditions. Each Credit and Disclosure Statement will set out the frequency and amount of the direct debit repayments required to satisfy payment of any applicable fees and charges and repayment of the credit provided.

Unsuccessful payments

6.2 From time to time, a direct debit may be unsuccessful (for example, because of insufficient funds in your account). If a direct debit is unsuccessful, Payright may make further attempts to debit the amount of the missed Regular Payment from your account. Where a customer has multiple unsuccessful payments, Payright will limit the number of successful loan repayments to no more than three (3) on any one day.  . Your financial institution may charge you fees if this occurs. You must also pay the Late Payment Fee in accordance with clause 6.4 below (except where the reason the direct debit is unsuccessful is due to our act or omission).  There will be no limit on the number of previously unsuccessful Late Fees that Payright will process in any one day.

6.3 You can make additional repayments at any time or repay the total amount owing under a Credit and Disclosure Statement at any time. As set out in clause 4.3 and the Credit and Disclosure Statement, Payright may charge you an additional payment processing fee in respect of any additional repayments you make. This additional payment processing fee is included in the calculation of the maximum fee amount in clause 4.1. For as long as there is an outstanding balance in respect of a Continuing Credit Contract you will be required to make the minimum repayments required in accordance with the direct debit arrangements regardless of whether you have made any additional repayments.

Application of fees

6.4 Payright may use any payment it receives from you to satisfy any amount that you are due to pay in any manner it chooses. For example, Payright may choose to apply a payment in satisfaction of outstanding Enforcement Fees or Late Payment Fees in priority to any outstanding scheduled minimum repayments. Ordinarily, Payright will apply payments in the following order:

  • Enforcement Fees;
  • Late Payment Fees;
  • other fees and charges; and
  • outstanding balances in relation to purchases.

 

6.5 Any fees and charges or other amounts that have accrued and remain outstanding on the final repayment date under the Continuing Credit Contract, must be paid along with the final repayment. Payright will debit your nominated account for the final minimum repayment and all outstanding accrued fees and charges and other amounts on the final repayment date in your Credit and Disclosure Statement.

  1. Statements, notices and other information

7.1 You will be issued with statements by Payright upon request and as set out in this clause 7.

7.2 You should check your statements carefully to ensure that you agree with all of the entries. If you are aware or think there is an error on your statement, you must contact Payright immediately.

Monthly statements

7.3 As set out in the Credit and Disclosure Statement, Payright will send you (or make available to you online or by other electronic means) a monthly statement setting out, among other matters, details of each credit advance and payment made under your Payright Account (in respect of each relevant purchase) during the relevant period.

Electronic statements and notices

7.4 Payright will send you (and you consent to receiving) statements, notices and other information in electronic form and/or by means of electronic communication (including by email, SMS or making the same available to you online or by any other electronic method), unless you subsequently nominate an alternative preferred method of communication or Payright decides otherwise.  Payright may from time to time email you with a link to information or notices that have been posted on its website.

7.5 Payright will not send you paper statements unless you specifically request them, Payright chooses to do so or Payright is required by law to issue a statement or notice in this form. If you would like to receive paper statements, please contact Payright to request this Suite 4, Level 2, 789 Toorak Road, Hawthorn East 3123
Email: admin@Payright.co.nz or Phone: 0800 338 496

7.6 You are responsible for ensuring that Payright has your most recent email address and for regularly checking your nominated email account for information from Payright regarding your Payright Account.

7.7 Subject to applicable law, if you request a copy of any statement, notice or other information that is required to be provided to you under the CCCFA, Payright will send to you a copy of that statement, notice or other information:  (a) within 15 Business Days of the date on which Payright receives the request; or (b) if a paper copy is requested, within 15 Business Days of the date on which Payright receives payment of the statement administration fee set out in the Credit and Disclosure Statement.

7.8 If you request a paper copy of any other statement, notice or information, Payright may (to the extent permitted under the CCCFA) charge you a statement administration fee as set out in the Credit and Disclosure Statement.

 

  1. Default

8.1 You will be in Default if you:

  • fail to pay the amount set out in a Late Payment Notice by the due date for payment;
  • fail to repay the total amount of credit provided together with all applicable fees and charges by the final due date for payment notified in the Credit and Disclosure Statement or otherwise agreed with Payright; or
  • do any of the following and it has a material impact (as defined in 8.2 below):
    • breach a provision of this Continuing Credit Contract.
    • do not comply with the law; or
  • give us incorrect, incomplete or misleading information.

8.2 A default has a “material impact” if Payright reasonably considers that the event, by its nature, is material or the event has had, or is likely to have, a material impact on:

  • your ability to meet your obligations under this Continuing Credit contract;
  • Payright’s credit or security risks (or Payright’s ability to assess these); or
  • Payright’s legal risks or reputation.

8.3 If you are in default Payright may do any or all of the following:

  • close, cancel or suspend your Payright Account;
  • require you to pay all or part of the outstanding balance of your Payright Account; or
  • take further action to enforce its rights and recover the amounts due including (but not limited to) referring you to a credit and collection agency.

 

Default Notices and loan acceleration

8.4 Subject to clause 8.5, Payright will issue you with a Default Notice before it exercises any of its other rights. The Default Notice will advise you of the Default and notify you of how to remedy it and by when it must be remedied. If you do not or cannot remedy the Default within the time set out in a Default Notice all amounts you owe to Payright in your Payright Account and otherwise in connection with this Continuing Credit Contract will immediately become due and payable and Payright may take further action to enforce its rights and recover the amounts due.

8.5 If Payright believes that you have fraudulently induced it to enter into this Continuing Credit Contract and this has a material impact as defined in 8.2 above, or Payright cannot locate you after making reasonable attempts to do so, or Payright is otherwise authorised by a court or tribunal, then Payright is not required to give you a Default Notice and the amount outstanding in your Payright Account will immediately become due and payable without prior notice to you.

8.6 If your Payright Account is closed, cancelled or suspended, you must still make payments in accordance with any applicable Credit and Disclosure Statement until the outstanding balance of your Payright Account is paid in full.

Late Payment Fees

8.7 If you fail to make a minimum repayment by the due date (including because a direct debit is unsuccessful) or if you fail to pay the total amount due under a Credit and Disclosure Statement by the due date, Payright may issue you with a Late Payment Notice and charge you a Late Payment Fee (in the amount set out in the Credit and Disclosure Statement).

Enforcement Fees

8.8 If you are in Default, in addition to paying any Late Payment Fees, you will be responsible for paying an Enforcement Fee to reimburse Payright for any reasonable costs we incur in enforcing this Continuing Credit Contract and engaging any third party to enforce this Continuing Credit Contract and recover outstanding monies.

  1. Privacy

9.1 Payright complies with the New Zealand Privacy Principles and only collects the personal information that you provide to it in your Application or otherwise provided in connection with the operation and use of your Payright Account. You agree and consent to Payright collecting, using and sharing your personal information for the purposes and manner set out in its Privacy Policy.  Payright may also collect your personal information from others, for example, if Payright needs information from third parties to verify the information that you have provided in your Application. Payright will only use your personal information for the purposes set out in its Privacy Policy including assessing your application for a Payright Account, managing and operating your Payright Account, conducting reviews of your Payright Account and to comply with applicable laws in New Zealand or overseas (if relevant).

9.2 Payright will only retain your personal information for as long as it is necessary to satisfy the purpose for which it was provided. Payright does not generally share your personal information with others unless this is necessary for or ancillary to the purpose for which you provided the information. For example, Payright may share your personal information with Participating Merchants at which you intend to use your Payright Account, with credit reporting agencies or with others if required by law.

9.3 You may ask to see any personal information that Payright holds about you at any time and Payright will provide you with access. If there are any errors or omissions in the information held by Payright please ask for it to be corrected.

9.4 For further information regarding privacy please see Payright’s Privacy Policy. You can access a copy of Payright’s Privacy Policy by contacting Payright’s Privacy Officer on 0800 338 496 or by emailing admin@payright.co.nz .

  1. Direct Debt

10.1 By signing or submitting the Application (as applicable) and providing one or both of:

  • Your direct debit details to Payright; or
  • Payment of the required deposit for the relevant purchase to Payright or the Participating Merchant in connection with your Application,

you accept the direct debit terms and conditions contained in this clause. Once you complete and submit the Application containing the direct debit particulars Payright will make arrangements with your nominated financial institution to debit your nominated account in accordance with the instructions contained in the Application and provide you with the required notice, which will be provided electronically via SMS or email,  and will be prior to your initial direct debit payment or other such notice period as you agree with Payright. Other applicable fees and charges will be debited when due or otherwise with reasonable notice. Where a debit payment is due on a day that does not occur in a particular month then Payright will arrange for the payment to occur on the last day of the month. If you wish to change any arrangements in relation to the direct debit, please contact Payright.

10.2 You must ensure that you have sufficient funds in your nominated account to allow a scheduled direct debit Regular Payment to be made. If there are insufficient funds then:

(a) you may be charged a fee or interest or both by your financial institution;

(b) Payright may charge you Late Payment Fees and/or Enforcement Fees; and

(c) you must arrange for the scheduled Regular Payment to be made by another method or arrange for sufficient clear funds to be in your account by an agreed time so that Payright can process the payment.

10.3 You must notify Payright immediately if you believe that there has been an error in debiting your account. Payright will investigate any such query and deal with it promptly and in good faith. If your query cannot be resolved to your satisfaction immediately, Payright will investigate further and notify you of when you can expect a further response. If Payright determines that it has incorrectly debited your account then it will adjust your account accordingly by crediting your account or otherwise providing you with a refund. If Payright determines that your account was not incorrectly debited, then Payright will inform you of the reasons why.

10.4 If Payright is required to pay GST on a supply made by it in connection with the direct debit arrangements, then you must pay to Payright an amount equal to the consideration payable or the supply multiplied by the prevailing GST rate on demand.

10.5 The information relating to your direct debit payments will be kept confidential by Payright and Payright will make all reasonable efforts to ensure that any such information is kept secure and to ensure that any employees or agents of Payright who have access to the information about you do not make any unauthorised use, modification, reproduction or disclosure of that information. Payright will only disclose the information it has about you to the extent specifically required or authorised by law, for the purpose of managing your direct debit in accordance with these terms and conditions or with your implied or express consent.

  1. General matters

Variation

11.1 Payright may make changes as set out in clause 11.2 – 11.5 below.

11.2 Payright can make the following types of changes if it applies them to a class of customers or to a product type or feature:
(a) changes to your payments (including changes to the amount, frequency or number of payments, the time of payment or how we calculate payments);
(b) changes to fees and charges (including introducing new fees and charges, change the amount of them or the time of payment);
(c) other changes which:
(i) reflect changes in law, an official directive, or the guidelines or requirements of a regulator;
(ii) impose, remove or adjust limits;
(iii) reflect changes to Payright’s pricing;
(iv) reflect changes to Payright’s business or technological systems;
(v) reflect current industry or market practice or conditions;
(vi) are administrative or correct a mistake or omission;
(vii) Payright reasonably thinks you will benefit from; or
(viii) are reasonably necessary to protect Payright’s legitimate interests.

11.3 Payright can make some changes that will only apply to you. These are:

(a) other changes which:

(i) reflect Payright’s risk associated with you;

(ii) are administrative or correct a mistake or omission; or

(iii) reflect changes to Payright’s business or technological systems; or

(b) any other change which reduces your obligations or gives you more time to pay.

Notice of changes

11.4 Unless the CCCFA requires otherwise, Payright will notify you in writing of (and provide details of):

  • any changes that you have agreed with Payright, before the changes take effect; and
  • any changes made pursuant to clauses 11.1 to 11.3, within 5 Business Days of the date on which the changes take effect,

or on such other date as disclosure of variation may be permitted to be made under the CCCFA.

11.5 Any amendment or variation of the Continuing Credit Contract does not give rise to a new contract.

11.6 It is important that the contact details you have given are up to date. If they are not, Payright may not be able to notify you of changes.

Waiver

11.7 Payright does not waive a right, power or remedy if it fails to exercise or delays in exercising any right, power or remedy. A single or partial exercise of a right, power or remedy does not prevent another or further exercise of that or another right, power or remedy. A waiver by Payright of a right, power or remedy must be in writing and signed by Payright.

Assignment

11.8 Payright may assign, novate, transfer or otherwise deal with its rights under this Continuing Credit Contract in any way it considers appropriate and, where permitted by law, without notice to you. You must execute all documents which Payright considers are reasonably necessary for these purposes

11.9 You must not assign, novate, transfer or otherwise deal with your rights or obligations under this contract.

Merchant fee disclosure

11.10 Payright may charge a Merchant a merchant a fee in connection with any product or service you acquire using your Payright Account and by accepting these Terms and Conditions you acknowledge and consent to all such fees.

Know your customer

11.11 If Payright so requests, you shall provide us with copies of any identification and “know your customer” documentation and information that we require as soon as reasonably practicable following receipt of Payright’s request.

Governing law

11.12 This Continuing Credit Contract is governed by the laws of New Zealand and each party irrevocably and unconditionally submits to the non-exclusive jurisdiction of the courts of New Zealand.

Notices

11.13 Any notice provided by you or PayRight under the Continuing Credit Contract must be in writing.

Liability for goods and services

11.14 Payright limits any responsibility or liability in connection with or in relation to the goods or services purchased by you in respect of which you utilise your Payright Account to the extent permitted by law. Any problems, issues or claims in relation to the goods or services acquired should be raised in the first instance with the relevant Participating Merchant who will try and resolve it with you directly. If you are unable to resolve it with the Participating Merchant, you should contact us and we will consider all of the circumstances and consider what assistance we can provide.

Severability

11.15 If any of the Terms and Conditions are held to be invalid, illegal or unenforceable for any reason then the affected Terms and Conditions will be severed from the Continuing Credit Contract and the remaining Terms and Conditions will remain valid and enforceable.

11.16 The Agreement must be read with the CCCFA, in the event of any inconsistency between the Agreement and the CCCFA, the CCCFA shall prevail.

Defined terms

In this Continuing Credit Contract:

Account Keeping Fee” means each account keeping fee payable under clause 4, in the amount set out in the Credit and Disclosure Statement.

Amount of Credit” means the amount of credit available in connection with your Payright Account.

Application” means an application to Payright for a Payright Account and includes any completed application form(s) that you complete, or a Participating Merchant completes on your behalf (either in paper or electronic form), and submitted to Payright to apply for a Payright Account or a subsequent advance of credit..

Business Day” means a day (not being a Saturday, Sunday or public holiday in that place) on which Payright are open for business in New Zealand;

CCCFA” means the Credit Contract and Consumer Finance Act 2003.

Continuing Credit Contract” means the contract between you and Payright in relation to your Payright Account the terms of which are contained in these Terms and Conditions, each Application Form and each Credit and Disclosure Statement.

Credit and Disclosure Statement” means the credit and disclosure statement prepared and provided to you in connection with your initial Application for a Payright Account and/or (as applicable) any subsequent Application in accordance with these Terms and Conditions in relation to a purchase from a Participating Merchant.

Credit Limit” is the Initial Credit Amount plus any fees and charges debited to your Payright Account with the Initial Credit Amount or such other amount as we agree is your Credit Limit.

Default has the meaning in clause 8.

Default Notice” means the written notice provided to you by Payright notifying you that you are in Default of your Continuing Credit Contract, setting out the particulars of the Default and advising you on the means to rectify the Default (if available).

Enforcement Fee” means each enforcement fee payable under clause 8, in the amount set out in the Credit and Disclosure Statement.

Initial Credit Amount” has the meaning given in clause 1.2.

Late Payment Fee” means each late payment fee payable under clause 8 in the amount set out in the Credit and Disclosure Statement.

Late Payment Notice” means a notice (which may be delivered by post, SMS, email or other means (electronic or otherwise)) provided to you by Payright if you fail to make a payment by the due date for that payment.

Payright” means Devizo Finance NZ Limited trading as Payright and its successors and assigns.

Payright Account” means your continuing credit facility provided by Payright.

Participating Merchant” means an entity that will accept payment for goods and services by applying your Payright Account.

Regular Payment” means a scheduled regular payment due under a Credit and Disclosure Statement.

Terms and Conditions” means these terms and conditions.

October 2019.