iPayd Service
Terms and Conditions


1.       GENERAL
1.1. The general terms and conditions as set forth in Clause 1 – General of the iPayd Website Terms and Conditions shall apply equally herein.

2.      References
2.1.  The references terms and conditions as set forth in Clause 2 –References of the iPayd Website Terms and Conditions shall apply equally herein.

3.      Definitions
3.1.  Please find below a list of terms that are mentioned throughout this document and their respective meanings. Capitalised terms not defined herein shall have the meaning as set forth in the iPayd Website Terms and Conditions. Terms that are not defined herein or in the iPayd Website Terms and Conditions, take the meaning intended per their context in this document or as outlined in English dictionaries.

ADI means an authorised deposit-taking institution as defined by the Banking Act 1959 (Cth)
BankingI nstitution means Cuscal Limited, or any other bank nominated by Monoova from time to time, which provides Monoova with infrastructure and services for the acceptance and processing of transactions, which in turn provides Monoova’s customers (including iPayd P/L) with infrastructure and services for the acceptance and processing of transactions.
Buyer Rejected Goods means the Goods received and rejected by the Buyer during the Return Inspection Period and the Buyer has confirmed via the Website that they are rejecting the Goods during the Return Inspection Period.
Dispatch Period is the ten (10) day period of time afforded to the Seller to effect shipment of the Goods to the Buyer or afforded to the Buyer to effect shipment of the Buyer Rejected Goods..
M Account means the Monoova Account in which Deposited Funds are paid into from iPayd Vaults, where Deposited Funds are held on trust for iPayd P/L until iPayd P/L gives Monoova instruction as to whom to release a portion of the Deposited Funds. This M Account is established with an ADI for the purposes of receiving funds to complete transactions generally.  
Misdirected Payment means an NPP Payment erroneously credited to the wrong account because of an error in relation to the recording of the PayID or associated account information in the PayID Service.
Mistaken Payment means an NPP Payment, made by a payer who is a ‘user’ for the purposes of the ePayments Code(which can be downloaded on Australian Securities & Investment Commission’s website), which is erroneously credited to the wrong account because of the payer’s error.
Monoova Moneytech Payments Pty Limited ABN 38 126 015227 is engaged by iPayd P/L to provide deposit taking of funds settled by the Banking Institution and held on trust on Our behalf until We provide Monoova with instructions on what to do with the settled funds. Monoova provides Us with an automated process for receiving, managing and disbursing funds(including NPPs).
NPP is New Payments Platform which allows for near real-time payments using PayIDs.
NPP Adjustment is an NPP transaction initiated by Us or You to adjust or reverse an NPP Payment which has already been settled and cleared. An NPP Adjustment may arise as a result of one or more of a variety of reasons including:
          (a)  An NPP Payment return;
          (b)  A Mistaken Payment;
          (c)  An error NPP Payment;
          (d)  A Misdirected Payment;
          (e)  An NPP overpayment;
          (f)  a duplicate NPP Payment;
          (g)  a payment processing error made by an NPP participating financial institution
          (h)  an NPP Payment that has been made without Your authorisation; or
          (i)  a fraudulent NPP Payment (including fraud arising in connection with the use of a PayID.
NPP Payments means payments cleared and settled via NPP.
Osko is provided by BPAY and Osko near real-time payments are made within Your online banking platform, where it is made available by Your financial institution.
PayID means the identifier You chose to use to receive an NPP Payment.
PayID Name means the name that We give You or the name selected by You (with Our approval) to identify You to Buyers when Your PayID is used to make an NPP Payment.
PayID Service means the central payment addressing service which is available for addressing NPP Payments.
PayID Type means the type of identifier that You select for receiving NPP Payments, which may be Your telephone number (mobile or otherwise) or Your email address.
Purchase Inspection Period means the period of time agreed between the Buyer and the Seller, for the Buyer to inspect the Goods on delivery, during which the Buyer must acknowledge and agree via the Website that the Buyer is accepting or rejecting the Goods delivered. The Purchase Inspection Period commences upon the expiration of the Purchase Transit Period and ends at the earlier of the Buyer acknowledging acceptance or rejection of the Goods via iPayd during the Purchase Inspection Period or Us updating the iPayd Transaction status to accepted by the Buyer.
Purchase Transit Period means the estimated period of time, as agreed between the Buyer and Seller, for the  Goods to be received by the Buyer. A Purchase Transit Period commences on the expiration of the Dispatch Period or Us updating the iPayd Transaction status to dispatched,  and ends at the earlier of the Buyer acknowledging receipt of the Goods via iPayd during the Purchase Transit Period or Us updating the Offer status to “received by the Buyer” ahead of commencement of the Purchase Inspection Period or otherwise..
Return Inspection Period means the period of time that is automatically afforded to the Seller upon receipt of Buyer Rejected Goods(which is equal to the Purchase Inspection Period) to inspect the Buyer Rejected Goods during which the Seller or We confirm via the Website, that that the Seller is accepting or rejecting the Buyer Rejected Goods. The Return Inspection Period commences upon the expiration of the Return Transit Period and ends at the earlier of the Seller acknowledging acceptance or rejection of the Buyer Rejected Goods via iPayd during the Return Inspection Period or Us updating the iPayd Transaction status to accepted by the Seller.
Return Transit Period means the estimated period of time automatically afforded to the Buyer for the Buyer Rejected Goods to be received by the Seller. The Return Transit Period commences upon the Buyer or Us confirming that the Buyer has returned the Buyer Rejected Goods via the Website  and ends at the earlier of the Seller acknowledging receipt of the Goods via iPayd during the Return Transit Period or Us updating the iPayd Transaction status to “received by the Seller”.

4.      YOUR LICENCE TO USE THE SERVICES
4.1.  When You register as a User of iPayd, iPayd P/L grants You a personal, royalty-free, non-transferable and non-exclusive licence to Use the Services for the Term. This licence is provided to You for the sole purpose of enabling You to Use and enjoy the benefit of the Services during the Term. 

4.2.  iPayd P/L can suspend or terminate Your Account at any time, at Our sole discretion and for any reason. You shall remain liable for the performance of Your obligations up until Your Account was suspended or terminated including Your obligations in relation to all iPayd Transactions that You have initiated, updated or accepted, the release or delivery of Goods You sold, and paying any outstanding amounts including Fees owed to the relevant iPayd Vault. You agree to pay all costs and expenses that the iPayd Entities may incur in order to:
          (a)  collect amounts that You owe under the Terms; or
          (b)  initiate a mediation, arbitration or judicial proceeding to resolve a Dispute.  

4.3.  Where Your Account is suspended or terminated, You:
          (a)  must not access any other User Accounts or create a new User Account to Use the Services;
          (b)  must, where an Investigation is pending or active, promptly cooperate with Us and the                  investigating entity (if any), to resolve and conclude the Investigation as efficiently as possible; and
         (c)  are not entitled to any compensation for any inconvenience caused or for any other reason in                  connection with the suspension or termination of Your Account. 

5.      USER MATERIAL
5.1.  You agree that You are responsible for any Material that You provide to the Services and receive as a result of Using the Services and any consequences that result from these or other actions or omissions.  

5.2.  You are responsible for the suitability, accurateness, legality and appropriateness of the Material that You submit via the Services including Your communications with other Users.  

5.3.  You are responsible for the back-up of any Material or agreement that You have with another User unless otherwise expressly agreed by Us.  

5.4.  You warrant that the Material that You submit to or via the Services as part of Using the Services:
          (a)  complies with Law;
          (b)  is not inappropriate, vulgar, obscene, threatening, harassing or violent;
          (c)  does not infringe Our IPR or the intellectual property rights of others;
          (d)  is not damaging to Our host or network including Our Servers, or those of others;
          (e)  is true, correct and complete until such time that You update Your Account or request that iPayd                  P/L update Your Account or other Material;
          (f)  is not fraudulent;
          (g)  is not misleading;
          (h)  excludes the sale of counterfeit or stolen Items, or Items which You do not have the right to sell;           (i)  excludes information or data that is, in Our opinion, inappropriate or unlawful;
          (j)  does not create a liability for Us or cause Us to lose some or all of the Services, Our revenue, the                 goods or services from Our Suppliers, or Our relationship with Our Suppliers;
          (k)  does not refer to, link, infer, stipulate, include code for anything (directly or indirectly) that is illegal                  or prohibited by the Terms, or which You do not have a right to refer to, link, infer, stipulate or                  include; and
          (l)  does not include anything relating to attempting to, or actually, interfering with, or disrupting the                 access of any User, host or network, including, without limitation, sending a virus, overloading,                 flooding, spamming, mail-bombing the Services, or by scripting the creation of Material in such                 a manner as to interfere with or create an undue burden on the Services. 

5.5. We may monitor, edit or alter Your communications with other Users. 

5.6. We may, in Our sole discretion and without notice or liability to You, edit, remove, or deny access to any Material or other content if:
          (a)  We are required by Law to do so or are required by a body facilitating the Law, a court, a tribunal or                  other authoritative body to do so; or
          (b)  in Our Opinion, the Material is in appropriate or illegal, breaches the Terms, or We are aware that an                  Investigation will be commencing or has commenced. 

6.      ACCOUNTS
6.1.  You are responsible for ensuring that Your Account details are kept secure. 

6.2. You must report to Us any unauthorised Use of Your Account. Where You report unauthorised Use, We may:
          (a)  deactivate Your password and arrange for You to create a new password;
          (b)  suspend Your Account until further notice;  
          (c)  deactivate Your Account and get You to create a new Account; or
          (d)  do anything that We deem necessary in attempting to resolve the situation.  

6.3.  At all times, You will remain personally responsible for Your Account and any activities within or connected with it. 

6.4.  If any of the Material that You provided to the Services, as part of registering as a User of the Services, is out of date or incorrect, You must update it immediately by updating Your Account via the Services. Where this option is not available to You, please send Us Your request via email to support@iPayd.com.  
6.5.  You must not Use an Account which does not belong to You.  

7.      ACCOUNT LOGIN – USERNAME AND PASSWORD
7.1.  You are responsible for choosing and safeguarding Your username and password that You enter to Use the Services. We recommend that You choose a password that contains a combination of uppercase and lowercase letters, numbers and symbols that is at least eight (8) characters long. Do not disclose Your username or password to others and We recommend that You change Your password regularly. Further, do not keep Your username and password in such a way that is, or may be, easily accessible by another Person.  

8.      BUYING AND SELLING
8.1.  You represent and warrant that:
          (a)  the Material or communication exchanged between You and the other User to Your iPayd                  Transaction is true and not misleading;
          (b)  You are not legally prohibited from buying or selling the relevant Good;
          (c)  You have the authority to enter into and perform Your obligations in accordance with the Terms                  and Law;
          (d)  the Good that You are selling is not subject to any dispute, set-off or counterclaim; and
          (e)  You are not aware of and have no reason to be suspicious that Your iPayd Transaction or the Good                  that You are transacting, breaches the Terms or Law, or are for an illegal purpose. 

8.2.  Where You are the Buyer, the funds that will be used as Deposited Funds must be in Your name and in Your Bank account, which You have the right to transfer Deposited Funds as $AUD directly into the relevant iPayd Vault.  

8.3.  You hereby agree to conduct Your iPayd Transaction electronically via the Services. You acknowledge and agree that by instigating or accepting an iPayd Transaction via the Services, that You are able and willing to electronically receive correspondence including payment instructions. An electronic record shall be deemed to have been sent when the information Is properly addressed or directed to its intended recipient, and either:
          (a)  enters an information processing system that is under the control or possession of the recipient; or
          (b)  enters a region of an information processing system that is under the control or possession of                  the recipient.  

8.4.  Either the Buyer or the Seller can initiate an Offer to be sent to the other party via iPayd. The recipient of an Offer can accept, reject, update the Offer. Where You update an Offer (in other words, edit the Offer), You are acknowledging and agreeing to all particulars inclusive of Your updates. The other party to the iPayd Transaction can then accept, reject or update Your updated Offer. This negotiation process can continue until both parties to the iPayd Transaction agree to all of the particulars of the iPayd Transaction. In some instances, You may be able to cancel the iPayd Transaction.  

8.5.  The action of updating or accepting an Offer via the Services, constitutes Your agreement to the iPayd Transaction and Your commitment that You will do all things necessary, as soon as reasonably possible, to complete and effect the relevant iPayd Transaction, unless there is an exceptional circumstance such as, in between agreeing to sell Your car and releasing Your car to the Buyer, Your car was involved in an accident which resulted in it being written off and not available for sale.  Where Your circumstance is not exceptional as determined by Us and You do not follow through with Your commitment to complete the iPayd Transaction as agreed, We may suspend or terminate the iPayd Transaction or Your Account (or both), temporarily or indefinitely, for Your failure to complete an iPayd Transaction without lawful excuse. Where You do not have such lawful excuse, You may beheld liable to the other party to the iPayd Transaction and to Us also.  

8.6. You acknowledge and agree that once You accept an Offer via the Services, You (the Buyer and the Seller) have created a legally binding contract between each other, unless the contract is prohibited by Law or the Terms. Subject to the Law and the Terms, where You do not fulfil all of Your obligations to the other party to the iPayd Transaction, You may become liable to them. You must ensure that You are aware of and understand the Law that applies to You and Your iPayd Transaction. If another User breaches their obligations to You, You are responsible for identifying the breach and enforcing Your rights against that other User.  

8.7.  By accepting an Offer, You are agreeing to all of its particulars which may include Fees, the Purchase Transit Period and the Purchase Inspection Period.  

8.8.  Once the parties to an Offer agree its particulars, the parties must deposit the required Deposited Funds into the relevant iPayd Vault for the iPayd Transaction to proceed to the Dispatch step.

8.9. After all of the required Deposited Funds are received by the relevant iPayd Vault, the Seller must ship the Goods and must confirm that the Goods have been dispatched via the Website within the Dispatch Period for the iPayd Transaction to proceed to the Purchase Transit Period.

8.10.  Where the Seller does not ship the Goods or does not confirm that the Goods have been shipped via the Website within the Dispatch Period, iPayd P/L reserves the right to, and at Our sole and absolute discretion, either update the status of their iPayd Transaction on their behalf via the Website,  to confirm that the Goods have been shipped, or to cancel the iPayd Transaction without notice or liability to the Buyer or the Seller, but for the Buyer will be refunded the Deposited Funds less Fees.

8.11.  Where the Seller does not ship the Goods or ships the Goods to the incorrect delivery address and confirms via the Website that the relevant Goods have been shipped during  the Dispatch Period and the Buyer does not receive the Goods, iPayd P/L reserves the right to cancel the iPayd Transaction without notice or liability to the Buyer or the Seller but for the Buyer will be refunded the Deposited Funds less Fees.

8.12.  Where the Buyer receives the Goods and does not update the iPayd Transaction status as received via the Website, it grants Us irrevocable permission for Us to update the Offer status of their iPayd Transaction on their behalf to confirm that the Goods have been received.

8.13.  Where the Goods have been received by the Buyer and the Buyer does not confirm via the Website that it accepts or rejects the Goods within the Purchase Inspection Period, it grants Us irrevocable permission, for Us to process the Goods on their behalf as accepted by the Buyer and acknowledges and agrees that We will release the Deposited Funds (less Fees) to the Seller and complete the iPayd Transaction on their behalf.

8.14.  Where the Goods have been received by the Buyer and the Buyer confirms via the Website that it accepts the Goods during the Purchase Inspection Period, it is acknowledging and agreeing that it is satisfied with the Goods purchased and that We will release the Deposited Funds (less Fees) to the Seller.

8.15.  Where the Goods have been received by the Buyer, and the Buyer rejects the Goods via the Website during the Purchase Inspection Period, the Dispatch Period automatically commences.

8.16.  Where the Buyer does not ship the Buyer Rejected Goods within the Dispatch Period or does not confirm via the Website that the Buyer Rejected Goods were shipped during the Dispatch Period, the Buyer provides Us with its irrevocable consent for iPayd P/L to process the relevant iPayd Transaction to completion without notice or liability to the Buyer or the Seller but for the Deposited Funds less Fees will be released to the Seller.

8.17.  Where the Buyer ships the Buyer Rejected Goods to the Seller during the Dispatch Period and the Buyer confirms that it has done so via the Website, the Return Transit Period automatically commences, and the Buyer has a period of time equal to the Purchase Transit Period, for the Buyer Rejected Goods to be received by the Seller.

8.18.  Where the Buyer Rejected Goods are received by the Seller, and the Seller acknowledges receipt of the Buyer Rejected Goods via the Website during the Return Transit Period, the Seller is afforded a period of time which is equal to the Buyer Inspection Period to inspect the goods and acknowledge that it accepts or rejects the Buyer Rejected Goods during the Return Inspection Period.

8.19.  Where the Buyer Rejected Goods have been returned to the Seller, and the Seller does not confirm via the Website that it has received the Buyer Rejected Goods during the Return Transit Period, the Seller grants Us irrevocable permission for Us to update the iPayd Transaction status on their behalf to confirm that the Goods have been received and accepted, and the Seller acknowledges and agrees that We will release the Deposited Funds (less Fees) to the Buyer and complete the iPayd Transaction on their behalf.

8.20.  Where the Seller inspects the Buyer Rejected Goods and confirms its acceptance of the Buyer Rejected Goods via the Website within the Return Inspection Period, the Seller acknowledges and agrees that We will release the Deposited Funds (less Fees) to the Buyer and the iPayd Transaction will be complete.

8.21.  If the Seller marks the Buyer Rejected Goods as rejected on the Website during the Return Inspection Period, the Buyer and Seller must resolve their dispute between themselves and may enter into Mediation or Arbitration in accordance with the Terms to assist with achieving a mutually suitable resolution at their own costs.

8.22.  Where the Buyer Rejected Goods have been returned to the Seller, and the Seller does not confirm via the Website that it has accepted or rejected the Buyer Rejected Goods during the Return Inspection Period, the Seller grants Us irrevocable permission for Us to update the iPayd Transaction status on their behalf to confirm that the Goods have been received and accepted, and the Seller acknowledges and agrees that We will release the Deposited Funds (less Fees) to the Buyer and complete the iPayd Transaction on their behalf.

8.23.  Where You deal with someone who You think is in breach of the Terms, You should stop Using the Services and notify Us immediately. Notifying Us, does not guarantee that action will be taken to:
          (a)   stop the breach;
          (b)   contact the relevant User; or
          (c)   suspend or terminate the relevant User’s Account.

8.24.  If We suspect that an unauthorised iPayd Transaction has occurred in connection with Your Account, We may take action such as suspending or terminating Your Account, but We are not obliged to take any or a specific action, and any action that We take will be at Our sole discretion without notice or liability to You or the other party to the relevant iPayd Transaction.

8.25.  You acknowledge and agree that We reserve the right to change or cancel Your iPayd Transaction at any time and for any reason without notice or liability to You or the other party to Your iPayd Transaction.

8.26.  You acknowledge and agree that We are not a party to the iPayd Transaction between Yourself and the other party to the iPayd Transaction (i.e. the Buyer and the Seller) and that instead, We offer a financial service, as well as certain add-on services, to You, as Users of the Services.

8.27.  You acknowledge and agree that We have no control over the quality, safety or legality of anything transacted via an iPayd Transaction, the communications between You and other Users, the accuracy of the information exchanged between Users, or the ability of Users to complete an iPayd Transaction. We cannot ensure and do not guarantee that Users will do all things necessary to complete an iPayd Transaction at all, accurately or legally.

8.28.  We do not offer or sell Buyer or Seller protection or insurance. The Services provide an online venue for Users to transact. We are not otherwise involved in the transaction or interactions between Users.

8.29.  You acknowledge and agree that user identification on or over the Internet can be difficult, and whilst We will seek to identify all Users, We cannot and do not confirm each User's purported reputation or identity. We recommend that You communicate directly with the other party (i.e. User) to Your iPayd Transaction and perform a pre-sale inspection of the Good that You intend to transact via the Website, in an effort to obtain assurance of and satisfaction with the relevant Good prior to transacting it via the Website.

8.30.  We may send You notifications including about Your iPayd Transactions or their status, or about Your Account, however this does not mean that We have verified, endorsed or guarantee Your Account information or the Account information of other Users, the Goods being transacted, the legality of the iPayd Transaction, that the iPayd Transaction will be completed successfully, or that You will receive the Goods for which You paid.

8.31.  We may send You notifications containing information that We received from the other party to Your iPayd Transaction. We do not have control of this information and sending it to You does not mean that We have verified, endorsed or approved of it, before or after sending it to You. If You find such information to be inappropriate for any reason, please exercise Your independent judgement, consideration and common sense, and practice safe trading when Using the Services.

8.32.  You should log into www.ipayd.com daily and regularly to confirm or update the status of Your iPayd Transaction. You are responsible to update the status of Your iPayd Transactions as the Goods move through the lifecycle of an iPayd Transaction including through inspection and delivery stages.

8.33.  In Using the Services, You acknowledge and agree that there are risks, including that Users may sell something to which they do not have the right to sell, Users may have registered for the Services using false details, User interaction may be inaccurate or deceptive and Users may be underage, and that in Using the Services, You are doing so at Your own risk.  

8.34.  Where You are unable to access the Website to update the status of Your iPayd Transaction, You must notify Us by calling 1300 926 968 or email Us at support@ipayd.com. We will endeavour to restore Your access as soon as practicable.


9.      SHIPPING
9.1.  Where You are the Seller and You have created a legally binding contract between You and the Buyer via the Website, and the Buyer has transferred the Deposited Funds required into the relevant iPayd Vault, You, as the Seller have the Dispatch Period during which to release the Good to the Buyer directly.  

9.2.  The Seller acknowledges and agrees that it is responsible for the delivery of the Good to the Buyer, irrespective of whether the Seller personally delivers the Good or arranges delivery through a third-party provider.  The Seller is responsible for Goods that are lost, stolen or damaged in transit. Where the Buyer provides their authority to leave the Goods unattended upon delivery, the Buyer acknowledges and agrees that it is responsible for the unattended Goods. 

10.  CANCELLATION OF AN IPAYD TRANSACTION
10.1.  A User may be able to cancel an Offer prior to both the Buyer and the Seller agreeing to the particulars of the Offer, after which point, the iPayd Transaction cannot be cancelled by a User. 

10.2.  A cancellation of an iPayd Transaction after the acceptance of an Offer may only occur if We process the cancellation of the iPayd Transaction at Our sole and absolute discretion without liability to the relevant Users.

10.3.  Where an iPayd Transaction is cancelled for whatever reason and at any time:
          (a)  We will notify the relevant Users by email to the email address listed in their Account; and
          (b)  the Buyer may request a refund of the Deposited Funds (less Fees) in which case, iPayd P/L may                  return the Deposited Funds, less Fees, to the Buyer in certain circumstances which include where                  the Buyer is not in possession of the Goods to iPayd Transaction and the Seller is in possession of                  the Goods to the iPayd Transaction; and
          (c)  iPayd P/L will not refund any Fees to the Seller.  

10.4.  We may cancel an iPayd Transaction if We believe, in Our good faith opinion, that:
          (a)  the relevant iPayd Transaction violates the Terms or the Law;
          (b)  the relevant iPayd Transaction may or is likely to violate the Terms or the Law;
          (c)  the Buyer or the Seller has filed for bankruptcy;
          (d)  it is unauthorised or made by someone other than You; or
          (e)  We have reasonable cause to cancel it. 

10.5.  Where the Seller does not release the Goods within the Dispatch Period, the Buyer may request a return of Deposited Funds (less Fees) from iPayd P/L and iPayd P/L will do so after notifying both parties to the iPayd Transaction.  

10.6.  The Buyer and Seller hereby agree that where iPayd P/L is going to refund Deposited Funds (less Fees), that the entire Fees shall first be deducted from the Deposited Funds regardless of any other previous agreement or arrangement for allocation of the Fees that may have been made between the Buyer and the Seller, before the refund to the Buyer is processed, and the refund received with be equal to the Deposited Funds less Fees.  

10.7.  In the event that the Buyer rejects the Goods in violation of Law or the Terms, the Seller shall not be prohibited from pursuing any available right or remedy available under Law against the Buyer for breach of the underlying transaction.  

11.  MATERIAL SHARED WITH OR VIA THE SERVICES
11.1.  All Material that You provide to or share via the Services and any consequences that result from such Material are Your consequences and responsibility alone.  

11.2.  Material that You provide to or share via the Services can be viewed by Your intended recipients as well as any or all of the iPayd Entities. You are responsible for determining whether the Website is the appropriate forum for You to share Your Material. We do not take responsibility for Your Material and We may not monitor, control or censor the Material provided to Us or shared via the Services, except in limited circumstances. Any use of, or reliance on, any Material shared via the Services or obtained by You through the Services is at Your own risk. 

11.3.  By accepting these Terms, You acknowledge and agree that by Using the Services, You may be exposed to Material that could be offensive, inaccurate, untrue or otherwise inappropriate.  

11.4.  We do not support, represent or guarantee that the Material shared with or via the Website, or received via the Website is true, accurate, reliable or otherwise appropriate. We are not liable for Material in any way, including where the Material is untrue, inaccurate, unreliable or otherwise inappropriate, or there is any consequential loss or damage of any kind suffered as a result of or in connection with Using the Services.

11.5.  You are responsible for resolving any Disputes or consequences that may arise from the Material that You share with or via the Services or that You receive from Using the Services. 

11.6.  You may request details of any Material that You provided when You registered to Use the Services, at any time by sending a written request via email to support@ipayd.com. Please note that in Your request, You must provide information that allows Us to verify that You are the User permitted to access the requested Material. We may charge a Fee for providing You with the requested Material if it requires a significant amount of time to locate the requested Material or to provide it to You in an appropriate form. In limited circumstances, We may not be permitted to provide You with the requested Material (for example: where You are (or are going to be) under Investigation). We will let You know if We are unable to provide You with the requested Material and We may let You know the reasons for Our refusal. 

11.7.  Material that You share with or via the Services or receive via the Services may be archived after twelve (12) months and will be purged in accordance with applicable law or later as determined by Us in our sole discretion without notice or liability to You. As such, You will not beable to access or view such Material where the expiration date has occurred. We may keep this Material for any reason including no reason at all.  

12.  FEES
12.1.  There are a variety of Fees that may be applicable to Your iPayd Transaction which will be outlined for You at the time of transacting via the Website or connected with Your Use of the Website. For example, there are iPayd Fees which are displayed at the time of initiating an iPayd Transaction. 

12.2.  You acknowledge and agree that Fees are withheld from the iPayd Transaction and paid to iPayd P/L before the Seller receives payment for the Goods that they sold or refunds are processed.  

12.3.  Once paid by the Buyer or the Seller, or both, the iPayd Fees are non-refundable. 

12.4.  You acknowledge and agree that any liabilities or expenses incurred by any of the iPayd Entities or a Banking Institution in connection with a Dispute, payment or refund, will be deducted from the Deposited Funds, before the matter is settled or the refund is processed, unless otherwise specified in the Terms or otherwise agreed by iPayd P/L in writing. This includes any liabilities or expenses incurred by any of the iPayd Entities or a Banking Institution in connection with Your Use of the Services. Where the liabilities or expenses exceed the Deposited Funds, You may be required to pay Us the difference. 

12.5.  None of the iPayd Entities are responsible for any tax or levy imposed on any Goods transacted via the Services or otherwise arising from Your iPayd Transaction. 

13.  PAYMENTS & REFUNDS OF OVERPAID AMOUNTS
13.1.  Where You are the Buyer to an iPayd Transaction, You must pay the entire amount owed in $AUD into the iPayd Vault, as soon as possible following Your agreement via the Website, by making an electronic funds transfer of $AUD from one or more of Your Bank accounts to the iPayd Vault. 

13.2.  We may impose transfer limits on the amount that You can transfer at any one time, at Our sole and absolute discretion, at any time and for any reason without notice or liability to You.  

13.3.  In processing an electronic transfer of funds from Your Bank account to the iPayd Vault, You may:
          (a)  do a direct transfer by entering relevant account details; or
          (b)  use PayID.  

13.4.  Where You transfer funds into the applicable iPayd Vault, the NPP Payment service will be provided where:
          (a)  Monoova and iPayd P/L’s financial institutions support the NPP Payment service; and
          (b)  the iPayd Vault is able to receive the particular NPP Payment.  

13.5.  You hereby hold harmless, all of the iPayd Entities and the other party to Your iPayd Transaction, if an electronic transfer of funds You try to transfer into an iPayd Vault or to Us, fails to complete due to Your Bank’s terms and conditions. 

13.6.  We have engaged and authorise Monoova to hold, receive and disburse funds on Our behalf and in accordance with Our instructions. When You pay an amount into the iPayd Vault, which sits within Monoova or its Permitted Assigns, We will instruct Monoova to move the funds to the M Account and either:
          (a)  hold the funds until all conditions applicable to the iPayd Transaction are satisfied;
          (b)  first disburse an amount to iPayd P/L equal to all Fees associated to the iPayd Transaction and                   any other amounts payable to Us or a third party, and subsequently disburse the remaining                   Deposited Funds to the Seller or the Buyer; or
          (c)  refund any overpaid amount to the relevant party to the iPayd Transaction.  

13.7.  You acknowledge and agree that:
          (a)  You are not entitled to any interest associated with the funds held in an iPayd Vault or M Account;
          (b)  You have no right to issue directions to Us regarding the funds in an iPayd Vault or the M Account,                  other than to respond to Our requests for Your action;
          (c)  We may discontinue offering certain payment methods or offer new payment methods at which                  time You will be notified of this news;
          (d)  where We discontinue offering certain payment methods, You will stop using the relevant payment                  method to process a payment or deposit; and
          (e)  in You making payments or deposits electronically, You authorise Us to obtain and retain the details                  relevant to the transaction including Your account details that are disclosed to Us in relation to                  the payment or deposit.  

13.8.  If You deposit more than the required amount of $AUD into the relevant iPayd Vault from Your Bank account, where possible, the excess will be automatically refunded to You to the account from which You paid and the relevant PayID and account will be locked. Where We are unable to refund the excess for whatever reason including that Your banking institution is not sharing Your bank account details with Us from the most recent deposit that you transferred, We will hold the excess amount (less any dishonour fees) in the applicable iPayd Vault and You will need to provide Us with Your new nominated bank account details. We will need to verify that the new Bank account details that You provide are Your new bank account details, before the residual refund (i.e. less dishonour fees) will be attempted to be refunded into Your new nominated Bank account.  

13.9.  Where We are charged any dishonour fees in connection with trying to transfer funds from an iPayd Vault to You, or from Us to You for whatever reason, and the transfer has declined for whatever reason, including that You have changed your banking details and have not updated Your iPayd profile such that Your bank account details that We have are invalid, all such dishonour fees will all be incurred by You and will reduce the amount of any payment or refund to which You were previously entitled accordingly. Each failed attempt to transfer an amount to You will reduce the total amount of any payment or refund to which You were previously entitled. Where the amount of the dishonour fee exceeds the amount of the refund or the payment to You, You will be liable for and pay Us the difference.  

13.10.  Users hold Us harmless from any loss that may arise due to currency conversion when refunding an amount to a User.  

13.11.  iPayd P/L may reverse a payment or deposit, at its sole and absolute discretion without notice or liability to You, in circumstances which include where the iPayd Transaction fails to be completed within the relevant or a reasonable timeframe (as determined by iPayd P/L), or a party to an iPayd Transaction is in breach of any of the Terms or Law. Without limiting any of the limitations of liability under the Terms and to the extent permitted by Law, iPayd P/L will not be liable for any damages, legal claims made or losses suffered of any nature, arising directly or indirectly from or in connection with a reversal of an iPayd Transaction, whether in contract, tort, equity, under statute or otherwise and whether or not foreseeable(reasonably or otherwise), contemplated by Users or others, or the iPayd Entities have been notified of the claim. 

13.12.  You may request an NPP Adjustment if You believe that an NPP Payment from Your Bank Account is one of the issues outlined in the definition of NPP Adjustment in the Terms. However, making a request does not mean that an NPP Adjustment will be made.  

13.13.  We may make an NPP Adjustment, if We agree with Your request for an NPP Adjustment and You acknowledge and agree that We can only process an NPP Adjustment if We are required by the third-party rules of NPP and Osko, or have the right under third party rules, to so do at a particular time, and We will follow those rules in relation to NPP Adjustments. 

13.14.  You acknowledge and agree that as We have engaged third parties to assist with keeping Your Deposited Funds secure whilst transacting iPayd Transactions, there may be times where settlement of iPayd Transactions is delayed, interrupted or cannot be processed due to other’s computer systems being inoperable or communication links being down and that We are not responsible for such delays, interruptions or lack of processing. 

13.15.  You will be liable for any misdirected payments from Your Bank Account to the extent that You caused or contributed to, the error that resulted in the relevant payment being misdirected. For example, where You entered the account number or PayID incorrectly into Your online banking. We recommend that You contact Your banking institution in this instance for their assistance.  

13.16.  Except as set out in other clauses of the Terms, to the extent permitted by Law:  
          (a)  We are not liable to You for any funds that You did not recover from an NPP Payment from Your                  Bank Account where You have requested (or have the right to request) an NPP Adjustment, or                  any other loss or damage arising from or in connection with Your failure to recover those funds;
          (b)  We are not liable for any consequential loss or damage that You suffer as a result of using NPP;
          (c)  You are liable for any loss or damage to You or Us from fraudulent NPP Payments where the                  responsibility for the fraud is attributable to Your action or inaction.  

14.  UNCLAIMED FUNDS
14.1.  To the extent permitted by Law, for Deposited Funds held on deposit for more than twelve (12) months, We may charge Users a monthly maintenance Fee commencing during the thirteenth (13th)month. These Fees will be deducted from the Deposited Funds (less other Fees) and the Deposited Funds will dwindle until such time that Deposited Funds (less other Fees) are claimed by the relevant User or are transferred to ASIC as required by relevant laws at the time of the transfer, after which, if You wish to claim such funds, You will need to contact ASIC directly.

15.  Anti-Money Laundering and Sanctions
15.1.  Under Australian Law including anti-money laundering legislation, We are prohibited from dealing with specific prescribed Persons. If We suspect or conclude that a User, is or is representing a prescribed Person, or that We may not be able to comply with the anti-money laundering legislation (for example, if We cannot properly identify You), We may not be able to allow You to Use the Services or pay an amount into an iPayd Vault.  

15.2.  At any time and to comply with Law, You acknowledge and agree that You will promptly provide Us with all information:
          (a)  relevant, necessary and as requested, for Us to verify Your identity, Your Bank account or to satisfy a                  specific identification requirement;
          (b)  that We reasonably require to help Us manage anti-money laundering and counter terrorism                  financing risk;
          (c)  that We reasonably require to comply with Law; or
          (d)  that We reasonably require to avoid an unlawful act.  

15.3.  You acknowledge and agree that We may collect information about You from third parties.  

15.4.  We are required to report suspicious transactions to the relevant government authorities in Australia and overseas (if applicable). 

15.5.  You acknowledge and agree that We may not be able to disburse funds to You or another User where the Buyer to the iPayd Transaction is a prescribed Person in accordance with the Law, regardless of Your instruction or request.  

15.6.  You acknowledge and agree that We may, in Our absolute and sole discretion and without notice or liability to You, delay, block or refuse to process or settle an iPayd Transaction.  

15.7.  You acknowledge and agree that We may, in Our absolute and sole discretion and without notice or liability to You, refuse to perform on or more of Our obligations if We suspect or are aware for any reason that any of a User’s actions or inactions may cause iPayd P/L to:
          (a)  breach any Law; or
          (b)  commit, aid, abet or procure an unlawful act. 

15.8.  You acknowledge and agree that We may, in Our absolute and sole discretion and without notice or liability to You, deal in any way with a Person, that is subject to sanctions or is connected in any way to any Person that is subject to sanctions, under economic and trade sanctions imposed in Australia or elsewhere.  

15.9.  You warrant and undertake that You will not request Us to take any action or perform an obligation that might cause Us to breach the Terms or the Law.   

16.  THIRD PARTY ADVERTISING, LINKS AND PURCHASES
16.1.  In Using the Services, You may purchase Items which are sold by Us and provided or delivered to You by a third party. In this circumstance, Your purchase will be subject to the Terms and may also be subject to additional terms and conditions of Ours or the terms and conditions of the relevant third party. You will be notified of all terms and conditions that are additional to the Terms, prior to Your purchase being finalised. Where You do not agree with any additional terms and conditions, do not purchase the relevant Item. To the extent that there are any inconsistencies between the Terms and the additional terms and conditions (of Ours or a third party), the additional terms and conditions will prevail to the extent of any inconsistency. Where Your purchase involves a third party and You have a query, issue or concern with that purchase, You should contact the third party directly in the first instance.  

16.2.  In Using the Services, You may purchase Items which are sold by a third party. Where You purchase Items from third parties, You acknowledge and agree that You do so at Your sole discretion. You acknowledge and agree that purchasing Items from third parties via the Services is subject to the Terms and the terms and conditions imposed by the relevant third party, and that the purchase is between You and the relevant third party. Where You do not agree with any additional terms and conditions, do not purchase the relevant Item. Further, We are not responsible in any way for anything to do with Your purchase of an Item from a third party including that We are not liable for the use of Your personal information by such third parties.  
 
17.  IN SERVICES PURCHASES
17.1.  In Using the Services, You may purchase Items which are sold and provided by Us. In this circumstance, Your purchase will be subject to the Terms and may also be subject to additional terms and conditions of Ours. You will be notified of all terms and conditions that are additional to the Terms, prior to Your purchase being finalised and Your agreement to the additional terms and conditions will be requested and required to finalise Your purchase. Where You do not agree with any additional terms and conditions, do not purchase the relevant Item.  

17.2.  To the extent that there are any inconsistencies between the Terms and any additional terms and conditions, the additional terms and conditions will prevail to the extent of any inconsistency. 

18.  INDEMNITY
18.1.  You will indemnify Us fully and hold Us harmless against all liabilities, costs, losses, claims, damages and expenses (including professional costs and expenses) that We incurred or suffered, or that were made against Us, as a result of (directly or indirectly), arising out of or in connection with:
          (a)  Your Use of the Services;
          (b)  any breach of the Terms;
          (c)  any payment of funds to an incorrect iPayd Vault, or the incorrect debiting of a bank account                  caused by Your act, omission, negligence or fraud, including where it is due to a failure by You to                  provide Us with notice of a changed Bank account, provided that the liability, costs, loss, claims,                  damage and expenses were not caused by any fraud, negligence and wilful default on the part of                  Us; or
          (d)  Us refusing to process, delaying, blocking or freezing an iPayd Transaction or a refund.  

19.  PRIVACY
19.1.  Please read carefully, Our Privacy Policy on the Website which forms part of Our Terms. Where You disagree with Our Privacy Policy or any other part of the Terms, do not Use the Services.  

19.2.  As part of Using the Services and purchasing Items, You grant Us and relevant third parties, Your irrevocable consent and license Us to use, store and share Your Material in any way that We see fit and in any location with other Users, Our suppliers, other third parties, other software, applications or services of Ours, for the purposes of providing You with any of the following:
          (a)  the Services;
          (b)  the Item;
          (c)  promotions;
          (d)  marketing;
          (e)  other communications;
          (f)   complying with Law;
          (g)  complying with an Investigation; or
          (h)  all of the above.  

19.3.  You acknowledge and agree that where You Upload Material, the Material that You Upload will be able to be viewed by Us. You also acknowledge and agree that such Material may be viewed by others(including Law enforcement personnel), in connection with an Investigation or in connection with providing the Services to You.  

19.4.  You irrevocably consent to Us contacting third-party logistics providers used by either the Buyer or the Seller to verify the status of a shipment of Goods. You acknowledge that iPayd P/L will only contact such third parties where the Buyer or the Seller are unresponsive during the relevant phase of an iPayd Transaction, and the status of a shipment needs to be verified directly so as to update the status of an iPayd Transaction on the Website. 

20.  COLLECTIONOF MATERIAL
20.1.  Ordinarily, We will only collect or organise the collection of Your Material from You. However, in certain circumstances, it may be necessary to collect such information from an external source (for example, a third party). You understand and authorise Us to obtain Your Material from an external source if necessary. 

20.2.  You may Use the Services in connection with Your user accounts from external sources, such as Your nominated financial institution. By Using the Services, You grant Us Your irrevocable permission to collect, Use and store Your Material.  

20.3.  We may conduct usage analysis of the Services and collect information regarding Your Use of the Services including the duration of Your Use and the features that You Use. You acknowledge and agree that We may collate, store and share information about Your Use of the Services.  

20.4.  We may collect information regarding Your Device (including the model, operating system and the Device token) and the IP address used to Use the Services.  

21.  COMMUNICATION
21.1.  By Using the Services, You provide Us with Your irrevocable consent to:
          (a)  communicate with You electronically via email using the email address You use in connection with                  Your Account or via other means including telephone; and
          (b)  Us sending You electronic or other communications(including telephone) including notifications                  and reminders. 

21.2.  As You must register as an individual to Use to the Services, therefore You must use Your personal email address and other personal details to Use the Services. Any email address that You Use to register as a User of the Services will be deemed to be Your personal email address representing Yourself as an individual and not representing a business of any kind or another individual..  

22.  DISPUTE RESOLUTION BETWEEN USERS
22.1.  Where Users are experiencing issues with other Users, the Buyer and the Seller will use their best efforts to reach and execute a mutually satisfactory solution. If the Users are unsuccessful in reaching or executing a mutually satisfactory solution within fourteen (14)calendar days from the date that the Buyer notified the Seller of the issue(“Notification Date”), either party shall arrange for the issue to be resolved by way of a formal Mediation process within thirty (30) calendar days of the Notification Date and must notify the other party and iPayd P/L of the relevant details for the Mediation process. Where Mediation is unsuccessful, the matter must be submitted by either party to Arbitration within fourteen (14) days of the outcome of the Mediation. Arbitration will result in a binding outcome. Users may arrange Arbitration within thirty (30) calendar days of the Notification Date, instead of Mediation, so as to achieve a binding outcome earlier.  

22.2.  Where We are not notified that Mediation or Arbitration has been arranged within thirty (30) days of the Notification Date, We may cancel, pause or deal with in any way that we see fit using our sole and absolute discretion and without notification or liability to You, the relevant iPayd Transaction and pay Deposited Funds (less Fees) to the recipient of such funds in accordance with the outcome of the Mediation or Arbitration. 

22.3.  We reserve the right, but We are not obliged in any way or in any circumstance, to resolve Your issue.  

22.4.  The party initiating Arbitration shall notify Us and the other parties by sending notice of demand for Arbitration to the non-filing parties. You agree that this notice may be received electronically via email, and You further agree that no further notice is necessary to have the Dispute submitted to Arbitration.  

22.5.  Where any of the iPayd Entities commence Mediation or Arbitration or interplead the funds with a court of competent jurisdiction at any time:
          (a)  the Buyer and Seller authorise iPayd P/L to use the Deposited Funds to pay the administrative fees                   to initiate Mediation or Arbitration or to file a judicial action and process service of the summons                   and complaint;
          (b)  all of the iPayd Entities will be fully relieved from any liability or obligation with respect to the                  Deposited Funds; and
          (c)  the Buyer and the Seller agree to pay for their own costs incurred in relation to the resolution                   process, except for those costs incurred jointly with the other User, which will be split equally                   between the Buyer and the Seller. You agree that You will not seek to recoup such costs from the                   other party to the iPayd Transaction or any of the iPayd Entities.  

22.6.  You agree that where Your issue is to be resolved via Arbitration, that:
          (a)  the request for Arbitration will instruct the Arbitration Provider to select an arbitrator pursuant to                   the Arbitration Provider’s procedures existing at the time of the Arbitration request. Where such                   procedures do not exist, the Arbitrator must not be specifically selected by either User but rather                   by the Arbitration Provider or by agreement between the Buyer and Seller;
          (b)  a single Arbitrator will decide on the matter, unless otherwise agreed in writing;
          (c)  notification of Arbitration will be shared with Us and the other parties to the Arbitration promptly                  and concurrently;
          (d)  none of the iPayd Entities are an actual party to the Arbitration but iPayd P/L will receive notification                   of the binding award;
          (e)  You will pay for Your own costs incurred in relation to the resolution process, except for those                  costs incurred jointly with the other User, which will be split equally between the Buyer and the                  Seller. You agree that You will not seek to recoup such costs from the other party to the iPayd                  Transaction or any of the iPayd Entities;
          (f)  You will be bound by the award and comply with the final and binding award; and
          (g)  where You have been served and You fail to participate in the Arbitration, You are effectively                  forfeiting any and all rights that You may have had with regard to the subject matter of the Dispute                  and You agree that the Arbitrator may issue a default award which You will be bound by despite not                  participating in the process.  

22.7.  Where Arbitration did not result in a mutually agreeable award, You may be eligible to appeal the award through the judicial review process in the jurisdiction of the courts in Victoria, Australia. Where You would like to appeal an award, We recommend that You seek Your own independent and professional legal advice. You are responsible for any legal costs that You incur in this respect and You agree that You will not seek to recoup such costs from the other party to the iPayd Transaction or any of the iPayd Entities.   

22.8.  As none of the iPayd Entities are a party to a Dispute between the Buyer and the Seller, none of the iPayd Entities will be responsible for any portion of the Mediation or Arbitration expenses or fees or any other costs incurred in connection with resolving or attempting to resolve a Dispute.  

22.9.  The obligation of any of the iPayd Entities shall be limited to the holding and disbursement of Deposited Funds (less Fees)upon:
          (a)  written instructions signed and dated by the Buyer and the Seller;
          (b)  an award from the Arbitrator; or
          (c)  a case or appeal outcome from a Judge.

22.10.  Where Your issue requires the assistance of a Law enforcement agency or another authoritative body, You may consult such third parties at Your own responsibility and cost. 

23.  TERMINATION OR SUSPENSION OF YOUR ACCOUNT
23.1.  We may terminate or suspend Your Account at any time and for any reason, at Our sole and absolute discretion, without notice or liability to You. Such termination or suspension will not affect any rights or obligations in relation to Deposited Funds unless:
          (a)  an Investigation is pending or current;
          (b)  there is a breach of the Terms that requires resolution;
          (c)  there is an issue with Your registered details e.g. Bank account details; or
          (d)  other exceptional circumstance.

iPayd Pty Ltd is a corporate authorised representative 001296838 of Flexewallet Pty Ltd,
ACN 164 657 032, AFSL 448068

Copyright © 2022 iPayd Pty Ltd ABN 12649359491 All Rights Reserved
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