These Terms and Conditions and the RelloPay Payment Schedule (Schedule) together form an agreement between Rello Finance Pty Ltd ACN 633 994 859 (Rello) and the person named as Vendor (you, your) in the Schedule.

This agreement commences when Rello pays Marketing Costs to the Listing Agent (Agent).

1. Your arrangements with the Agent

1.1. You will enter or have entered an arrangement with the Agent to pay to the Agent the Marketing Costs. You acknowledge that this arrangement is wholly between you and the Agent and does not involve Rello. Your obligations under this agreement are not altered or affected by the conduct of the Agent.

2. Parties to this agreement

2.1. If there is more than one Vendor, each of you is bound by the terms of this agreement separately on your own and jointly with the other Vendors.

2.2 If the property is owned by a registered company, you warrant that you are authorised by the registered company to sign this agreement on their behalf and that the owner agrees to be bound by the terms of this agreement.

3. Warranties

3.1. You warrant that you genuinely intend to sell the Property and that you expect the sale to be completed and settled prior to the Buy Back Date. Rello is buying Rello’s Share of the Sale Proceeds on the basis of this warranty.

4. Sale of Rello’s Share of the Sale Proceeds

4.1 This agreement is not a loan and there are no regular repayments or interest charges. Instead, upon Rello paying the Marketing Costs, you sell and assign to Rello all your right, title and interest to receive Rello’s Share of the Sale Proceeds from the Deposit and other sales proceeds free from all encumbrances.

5. Paying Rello’s Share of the Sale Proceeds

5.1. Ordinarily, we are paid Rello’s Share of the Sale Proceeds on the earlier of settlement of the sale of the Property or on the release for any reason of all or any part of the deposit paid on your sale.

5.2. You must ensure that Rello is paid Rello’s Share of the Sale Proceeds directly from the Deposit or from the sale proceeds at settlement. You must direct the Agent, your conveyancer or lawyer, and any other relevant person to make this payment.

5.3. You hereby irrevocably authorise and direct the Agent, your conveyancer and lawyer and any other relevant person to deduct and pay Rello’s Share of the Proceeds to Rello in accordance with Rello’s direction. Rello may provide those persons with a copy of this agreement as evidence of that authorisation and direction.

5.4. You must buy back Rello’s Share of the Sale Proceeds immediately upon your withdrawal of the Property from sale by the Agent if prior to the scheduled Buy Back Date, by paying Rello Rello’s Share of the Sale Proceeds. The date when you withdraw the Property from sale becomes the Buy Back Date if earlier than and replacing the scheduled Buy Back Date.

5.5. If Rello has not received the whole of Rello’s Share of the Sale Proceeds by the Buy Back Date you must immediately buy back Rello’s right to a share of the sale proceeds by paying Rello’s Share of the Sale Proceeds to Rello. Upon Rello’s receipt of that payment, Rello will return the right to you.

5.6. If you have not sold your Property by the scheduled Buy Back Date, you must immediately buy back Rello’s right to a share of the sale proceeds by paying Rello’s Share of the Sale Proceeds to Rello. Upon Rello’s receipt of that payment, Rello will return the right to you.

5.7. You agree that to pay Rello any reasonable costs incurred by us when preserving or enforcing our rights because you failed to do something that you are obliged to do under this agreement.

5.8. Any amounts due pursuant to clauses 5.1 to 5.7 and unpaid are collectively known as Amounts Owing.

5.9. If any Amounts Owing are not paid to Rello by the Buy Back Date or such later date that Rello notifies you of (either date is the Due Date), you must pay a default fee of 2.0% of the Amounts Owing and unpaid for each month or part of a month from the Due Date. This fee forms part of Rello’s Share of the Sale Proceeds and part of the Amounts Owing.

5.10. You authorise Rello to debit your Nominated Account for all Amounts Owing on each Due Date. You must ensure that your Nominated Account is open and contains enough money to cover each payment on the day that it is due to be debited.

5.11. Rello may engage the services of a licensed third party to process debits to your Nominated Account. You authorise Rello to provide the payment processor 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.

5.12. Any Amounts Owing remain immediately due until paid in full. You agree that Rello may debit the Nominated Account with all or part of the Amounts Owing on dates later than when the amounts first became due. You must pay all fees and charges incurred by Rello when payments are dishonoured. We will treat dishonoured payments as if having never been honoured.

6. Security interest

6.1. In consideration of and upon Rello paying the upfront Marketing Costs, you charge the Property to Rello to secure payment of any money due to Rello under this agreement. You consent to Rello lodging a caveat over the Property to protect Rello’s interest in it under this agreement. You will pay our reasonable costs (internal and external) if we decide to lodge a caveat or take any other enforcement action under this agreement.

6.2. You assign your right to receive both the Deposit and the other sale proceeds to Rello for the amounts due to Rello under this agreement and you acknowledge that Rello may instruct your Agent, conveyancer and lawyer to make payment to Rello accordingly.

7. Other matters

7.1. Rello may assign, novate or otherwise deal with its rights and obligations under this agreement in any way it wishes. Rello may disclose personal and financial information about you in connection with any such dealing.

7.2. You agree that all notices and communications relating to this agreement will be sent to the email, phone number or physical address shown in the Schedule, unless you inform Rello in writing of a change.

7.3. The laws of the state or territory in which the Property is located will apply to and govern this agreement and you agree to submit to the non-exclusive jurisdiction of the courts of that state or territory.

8. Your Privacy

8.1. Rello’s Privacy Policy explains how we collect, manage, process, secure and store your personal information. You consent to the Agent providing Rello with your contact details, a copy of the authority relating to listing and selling the Property that you signed with the Agent, a copy of your marketing agreement with the Agent and any other documents or information Rello requires in connection with this agreement.

8.2 You also consent to provide Rello with any personal information Rello reasonably requires so that Rello can verify your identity (including using electronic means). You consent to Rello using and disclosing any such information for this purpose. Rello may not be able to enter into this agreement with you if Rello does not receive this information. Please check Rello’s website (rellopay.co) for FAQ’s or contact Rello’s Support Team on support@rellopay.co or 1300 815 923 with any queries.

9. Breach of Agreement

9.1. Any failure to pay to Rello the whole amount of Rello’s Share of the Sale Proceeds as and when required by this agreement will be a fundamental breach of this agreement.

9.2. The parties agree that on the date that the breach described in clause 9.1 occurs the unpaid amount of Rello’s Share of the Sale Proceeds will be deemed to be:

• a credit arrangement that meets the definition of credit in section 6M of the Privacy Act 1988 (Cth);
• a debt owed by the Vendor to Rello for the purposes of the Privacy Act 1988 (Cth).
• The debt defined by this clause 9 is payable by you in full, upon demand by Rello.
• You agree that to pay Rello any reasonable costs incurred by us when preserving or enforcing our rights because you failed to do something that you are obliged to do under this agreement. These costs form part of the debt owed by you to Rello.
• If any Amounts Owing are not paid to Rello by the date demanded, you must pay a default fee of 1.5% of the amount unpaid for each month or part of a month that the amount remains unpaid. This fee forms part of the unpaid amount owed to Rello.
• You agree that this clause 9 does not create a new or replacement agreement. The rights and obligations provided by clauses 1 to 8 are not altered or prejudiced by this clause 9.
• You agree that Rello’s security interest in the Property as provided by clause 6 herein continues without prejudice or impairment and Rello’s chargeable interest is not altered by this clause 9.
• You agree that Rello’s rights under clause 5.10 apply to all provisions of this agreement.

Last Updated August 2023