These terms and conditions form part of the Payment Plan Agreement between Flip Finance Pty Ltd (Flip) ACN 648 534 552 and the Borrower (‘you’, ‘your’) named in the Schedule of the Payment Plan Agreement.

Highlights

• Flip may lend you money to pay for goods or services that you purchase from an authorised Merchant.
• The Merchant will provide you with an option to request a Payment Plan Agreement as an alternative to paying immediately.
• You must have the legal capacity to enter contracts and be a citizen or permanent resident of Australia, to be eligible for a Payment Plan Agreement. You must hold a debit or credit card account with a domestic Australian bank.
• You request a loan from Flip and instruct Flip to pay the Merchant, by submitting a Schedule for Payment Plan Agreement (Schedule) online.
• Flip pays the Merchant and creates a payment plan by which you repay the amount lent plus a Service Fee by making an agreed number of fixed payments on agreed dates, all specified in the Schedule.
• We deduct payments automatically from your nominated debit/credit card. Flip may record a pre-authorisation on your credit/debit card for a portion of the total amount to be repaid before we agree to fund your purchase.
• You may make payments before the scheduled due dates or pay the outstanding balance of your Payment Plan Agreement early, without penalty.

1. Definitions

In these standard terms and conditions: 

Advance Amount means the Purchase Price plus the Service Fee specified in the Schedule.

Business Day means a day that is not a weekend or a public holiday.

Commencement Date means the date on which funds are disbursed by Flip to the Merchant.

Due Date means the dates specified for each payment in the Schedule for Payment Plan Agreement. If a scheduled due date does not fall on a Business Day the due date moves to the immediate next Business Day.

Payment Plan Agreement means these standard terms and conditions together with the Schedule executed by you. 

Payment Schedule means the series of payment amounts and Due Dates specified in your Schedule for Payment Plan Agreement.

Property means personal property as defined by the Personal Property Security Act or real property as defined by states’ legislation.

Purchase Price means the amount that the Merchant charged you for the goods or services purchased and for which you request a Payment Plan Agreement.

Other capitalised terms not given special meanings in these standard terms and conditions have the meaning given to them in the Schedule for Payment Plan Agreement.

2. How a Payment Plan Agreement Works

2.1.    Flip advances the Purchase Price to you to pay for goods or services you purchased from an authorised merchant (“Merchant”). Flip pays the Purchase Price to the Merchant on your behalf.

2.2.   You agree to repay Purchase Price plus any applicable Fees, by making equal payments on or by each Due Date. The amounts and Due Dates for the payments are advised to you in your Payment Schedule when you request a payment plan.

2.3.   The quality or suitability of the goods or services that you purchased and any related returns or refunds are the responsibility of the Merchant and do not involve Flip. 

2.4.   You agree that Flip may debit your nominated credit/debit card in accordance with the Payment Schedule. The first payment is debited on the Commencement Date.

2.5.   Flip may engage the services of a licensed third party to process payments. You authorise Flip to provide the service provider with your personal information (including the information you have provided to us, or any payment authority you complete and sign) for the purposes of processing the payments.

2.6.   You are responsible for ensuring that you have sufficient funds in your nominated credit/debit card. If a payment request is declined for any reason, you are liable for any fees and charges imposed by your nominated card issuer.

2.7.   In consideration for Flip providing the Payment Plan Agreement you charge to us all your personal and real interest in the Property detailed in the Schedule for Payment Plan Agreement and you consent to Flip registering or lodging notice of our security interest with the relevant government register.

3. Fees and Charges

3.1. Any Service Fee is added to the Purchase Price and included in the payment amounts in your Payment Schedule.

4. Identity Verification and Assessment

4.1.  You agree to provide Flip with information we reasonably request to verify your identity and assess your suitability for the Payment Plan Agreement. 

4.2.   You consent to the Merchant providing Flip with your personal information and any other information we reasonably require to perform our obligations in arranging a Payment Plan Agreement for you. 

4.3.   You authorise Flip to make, directly or through third parties, any enquiries we consider necessary to verify your identity and assess your suitability for the Payment Plan Agreement. This may include ordering a credit report and verifying information you provide, against third party databases.

4.4.  All information Flip collects about you, including information to verify your identity and assess your ability to make payments, will be collected, used and securely stored in accordance with Flip’s Privacy Policy.

5. Cancellation and Default

5.1. Payments under this Payment Plan Agreement are due in full by the Due Dates.

5.2.  Your Payment Plan Agreement will not be terminated or cancelled until it is paid in full. 

5.3.  You may make payments before they are due without penalty.

5.4.  If you fail to make a payment by the Due Date you will been in default of this Payment Plan Agreement and the full outstanding amount will immediately be due and payable.

5.5.  If you have difficulties making a payment you should contact Flip as soon as possible, by email at support@flippay.com.au.  

5.6.  You may contact Flip to request alternative arrangements such as a payment holiday or rescheduled payments if you are suffering financial hardship.

5.7.  You may add an alternative card as a payment method by accessing your secure Flip Account online.

5.8.  You will be in default if: (a) you fail to make any payment by the Due Date; (b) you supply false, misleading, or incorrect information to Flip; or (c) you fail or are unwilling to comply with any provision of this Payment Plan Agreement.

5.9.  If you are in default Flip may: (a) collect the total outstanding balance owing under your Payment Plan Agreement immediately, using any card or payment method Flip has on file; (b) employ a debt collection agency to receive payment and you will have to pay all reasonable costs incurred by Flip and/or the debt collection agency; and (c) report default information to a credit bureau as permitted by law.

6. Refunds by the Merchant

6.1.    You may not cancel your Payment Plan Agreement or obtain a refund for any payments made under it.

6.2.   If the Merchant takes the goods back and provides you with a refund you may use those funds to prepay your Payment Plan Agreement. There is no penalty for early payment.

6.3.   You remain liable for your Payment Plan Agreement until it is paid in full, regardless of your arrangements with the Merchant. Flip will continue to process agreed automatic payments in accordance with your Payment Schedule and this agreement.

7. Correcting Unintentional Errors

7.1.  You agree that Flip may alter information entered by you in the Schedule to Payment Plan Agreement, to correct mistakes, errors or omission so that the information presented truly represents the intentions of the parties as expressed in this Payment Plan Agreement. Such alterations give the same effect as if the mistakes, errors or omissions had not been made when entering this agreement.

7.2.  Such alterations include correcting errors in information intended to identify the Property as entered in the schedule to your request for a Payment Plan Agreement.

8. Amendments Required by Law

8.1.  Flip may amend this Payment Plan Agreement at any time if required to do so by law. We would communicate such amendments to you immediately.

9. Obligations and Liabilities

9.1.  Flips liability under this Payment Plan Agreement is limited to providing the Advance Amount, to the extent permitted by law.

9.2. Your use of the Payment Plan Agreement is your responsibility. Flip does not warrant that a Payment Plan Agreement will meet your requirements.

9.3.  You will ensure that your nominated credit/debt card holds sufficient funds for each payment on each Payment Due Date. 

9.4.  You must pay any amount due under your Payment Plan Agreement without any deduction or set-off (and irrespective of any counterclaim). If you believe that Flip owes you an amount, you may raise that claim with us separately.

9.5.   You agree to Flip charging your nominated credit/debit card for payment of any amounts owned to us. 

9.6.  Flip has no involvement in your purchase of goods or services from the Merchant. You confirm that you will not hold us liable for any loss or claim arising from any goods or services provided by the Merchant or any other third-party entity used by the Merchant. 

9.7.  Your obligations under this Payment Plan Agreement are not altered by any act or omission by the Merchant, or any claims you may have in connection with any acts or omissions by the Merchant.

10. Your Warranties 

10.1. You warrant to us that you:

• Are at least 18 years old; and
• are a permanent resident or citizen of Australia with a valid residential address in Australia; and
• hold a valid credit/debit Card; and
• have a valid and verifiable email address and Australian mobile telephone number.

10.2.   You warrant that all information about you and used to assess your suitability for the Payment Plan Agreement is true, current and complete. 

11. Complaints

11.1.  Flip aims to provide you with  a high standard of efficient service. Sometimes things can go wrong and Flip will endeavour to find a quick and fair solution to resolve any complaint. If you are unsatisfied with any service provided by Flip regarding your Payment Plan Agreement, please contact us via:

Email support@flippay.com.au

Phone: 1300 354 766 (between 9am to 5pm, Monday to Friday AEST)

Mail: Level 3, 55 Pyrmont Bridge Rd Pyrmont, NSW Australia 2009.

11.2. If you have a complaint regarding the goods or services you purchased from the Merchant, you  must contact the Merchant directly. Flip is not a party to your transaction with the Merchant.

12. Indemnification

12.1. You indemnify Flip and must pay to us on demand amounts equal to any loss which we suffer, incur or are liable for as a result of or in connection with your breach of this Payment Plan Agreement. This includes legal costs and expenses (on a full indemnity basis) and professional consultant’s fees. This indemnity obligation is a separate, irrevocable, unconditional and continuing obligation, independent of your other obligations under this Payment Plan Agreement and survives the termination of this Payment Plan Agreement. Flip may send you further invoices for any of the losses described in this clause. 

13. No Guarantee of Approval

13.1.   Flip evaluates each request for a Payment Plan Agreement independently. Our provision of a Payment Plan Agreement does not guarantee approval of future Payment Plan Agreements.

14. Assignment 

14.1.  You cannot and must not transfer, assign or novate any of your rights or obligations under this Payment Plan Agreement without Flip’s prior written consent.

14.2. Flip may transfer, assign or novate all or any of its rights or obligations under this Payment Plan Agreement without having to obtain your consent. You agree to sign any documents required to give effect to this clause.

15. Applicable law

15.1.  This Payment Plan Agreement and the relationship between you and Flip are governed by the laws of the State of New South Wales without regard to its conflict of law provisions. You and Flip agree to submit to the personal and exclusive jurisdiction of the courts of New South Wales.

16. Electronic Communication

16.1  You and Flip agree that this Payment Plan Agreement may be executed by electronic means and to be bound by electronic signatures.

16.2  Flip may use your personal details, including any email address, facsimile number or social media account (Electronic Address) you have provided to us in the application process or by any other means, to communicate with you and to send to you a Payment Plan Agreement.

16.3  By entering into this Payment Plan Agreement, you consent to receiving notices and other documents and communications from Flip electronically. You acknowledge that:

• Flip may send notices and other documents and communications to you by email, or by emailing you to notify you that the document is displayed on, and can be retrieved from, a website; and
• you must check your email account regularly for electronic communications from Flip.

Last updated 1 December 2022