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Terms And Conditions
Terms And Conditions

Introduction

Creditnet International Ltd (Creditnet) provides information services to its customers under differing terms and conditions. In the case of the “Individual Credit Check” product the Terms and Conditions are incorporated in a tri-party agreement whereby Creditnet is an agent for the Subscriber and Centrix Group Ltd (a Credit Reporter) is the supplier of the service. Terms and conditions for other products include Creditnet as the supplier of the service. The following is a full set of Terms and Conditions for each of these products.

Individual Credit Checks

SERVICES

1. Centrix Group Ltd (Centrix) will provide credit reporting services to the Subscriber (“Services”) on the terms set out in this agreement. 

2. The Subscriber must only use the Services for the purposes of its internal business use and only in accordance with all applicable laws and regulations.

3. The Subscriber must not disclose the information provided by Centrix in supplying the Services to any third party except to the extent as required by law and must not resell the information. The Subscriber must not reproduce, copy or re-use the information except to the extent that it is reasonably required for its internal business use and provided however that all copyright and other proprietary notices, symbols and clauses of Centrix is affixed to any information reproduced, copied or re-used, whether in printed form, magnetic or any other media.

ROLE OF CREDITNET

4. The Subscriber has appointed Creditnet to act as its agent and undertake the following on its behalf:

4.1 supply Centrix with the information that Centrix requires from the Subscriber pursuant to this agreement in order to supply the Services to the Subscriber;

4.2 access the Services from Centrix; and

4.3 receive the Centrix invoice for the Services.

5. Creditnet must not use the Services for its own purposes or for any other purposes other than to carry out its role as agent for the Subscriber as described in this agreement.  Each time the Subscriber uses the Services, upon delivery of the Services by Credinet to the Subscriber, Creditnet must immediately purge and destroy all information it holds in relation to the Services.

6. All parties acknowledge that:

6.1 Creditnet is an independent contractor of Centrix;

6.2 Creditnet is not an agent, employee or partner of Centrix;

6.3 Creditnet has no power or authority to act on behalf of Centrix or incur any obligation of any nature on behalf of Centrix;

6.4 The Services shall be provided by Centrix and Creditnet shall have no responsibility for the provision of Services under this agreement other than in carrying out its role as agent for the Subscriber and its obligations set out in clause 7.

7. Creditnet will be the first point of contact for the Subscriber in relation to all queries the Subscriber may have in relation to the Services. If the query relates to the credit information contained in the credit report, Creditnet will direct the query to Centrix. Otherwise Creditnet will handle all other queries the Subscriber may have.

TERMS OF SUPPLY OF SERVICES

8. In order to provide the Services, the Subscriber must:

8.1 supply Centrix with the information Centrix requires to supply the Services in the manner and form required by Centrix;

8.2 follow Centrix’s policies and procedures as amended from time to time; and

8.3 comply with this agreement and ensure its respective employees, contractors and agents abide by the terms of this agreement.

9. The Subscriber and Creditnet must ensure that only persons authorised by the Subscriber have access to the Services.  The Subscriber and Creditnet will ensure that its employees, contractors and agents comply with all security procedures agreed between the Subscriber and Centrix and notified to it by Centrix from time to time, including without limitation, the use and security of passwords.

10. The Subscriber and Creditnet acknowledge that Centrix is required by the Credit Reporting Privacy Code 2004 (“Code”) to impose certain obligations on the Subscriber and Creditnet so that it can provide the Services in relation to individuals.

11. Before supplying any information to Centrix or using the Services, the Subscriber must obtain all relevant consents and authorisations from the relevant individual to authorise the supply of the information and use of the Services.

12. The Subscriber must supply Centrix with information in relation to the Subscriber’s credit defaults (as defined in Schedule 1) that are overdue by 90 days or as required by Centrix.  This information will be provided to Centrix directly from the Subscriber.

13. During the term of this agreement and after expiry or termination of this agreement, Centrix may retain and use the information provided by the Subscriber for the purposes of providing the Services to the Subscriber and for providing credit reporting services to Centrix’s customers and for any other purpose as permitted under the Privacy Act 1993, including the Code.

14. The Subscriber acknowledges and accepts that Centrix will not provide the Services if it reasonably believes that it is not permitted to under the Code.

15. The Subscriber acknowledges that Centrix is required by the Code to maintain an access log recording each access by the Subscriber to the Services.

FEES

16. Under the arrangements entered into between the parties Creditnet shall be solely responsible for the collection of any amount payable by the Subscriber under this agreement.  Accordingly, on that basis, the Subscriber must pay Credinet for the Services and the services provided by Creditnet to the Subscriber under this agreement in the manner and at the agreed rates.  No fees are payable by the Subscriber to Centrix for the supply of the Services.

17. If the Subscriber does not pay an invoice by the due date, Credinet may charge interest on the amount overdue (other than amounts which are the subject of a bona fide dispute) at the rate of 12% per annum (accruing daily) until the overdue amount is paid.

TERM AND TERMINATION

18. This agreement commences on the day the agreement is signed by all parties.

19. This agreement may be terminated by Centrix or the Subscriber upon 30 days written notice to each of the other parties.

20. Creditnet may terminate this agreement immediately upon written notice to each of the other parties if the Subscriber does not pay any amount due under this agreement by the due date and Creditnet has given the Subscriber written notice to remedy the default within 30 days.

21. Termination in any manner shall not prejudice any rights or obligations which may have properly accrued under this agreement to any party prior to termination.

22. Termination of this agreement for any reason shall not extinguish or otherwise affect the obligations under this agreement which by their nature are intended to survive termination.

LIABILITY

23. Centrix will not be liable for, nor will the measure of any damages against Centrix for any breach of this agreement, any tort (including negligence), contravention of any laws or otherwise, include any amounts for any indirect, consequential or punitive damages of any parties (including third parties).

24. No party will be liable for any amounts or default to the extent they are directly attributable to an event beyond the party’s reasonable control.  This provision does not apply to a lack of financial resources (including non-payment of any kind whatsoever) or disputes and/or problems with a party’s own resources or industrial disputes.

25. The Subscriber agrees that the provisions of the Consumer Guarantees Act 1993 do not apply.

26. The Subscriber acknowledges that the information provided by Centrix as part of the Services comprises of information from a number of sources, including information supplied by third parties and public registers and that Centrix is reliant upon the Subscriber and third parties to ensure the information it provides is accurate and error free.  Centrix cannot and does not warrant that the information it provides is free of errors or defects or is complete, correct or current. 

27. Centrix shall take all care in providing the Services and shall not be liable in any way whatsoever for the information supplied as part of providing the Services. Use of the Services and the information supplied is at the Subscriber’s own risk and the Subscriber shall be solely responsible for its assessment and evaluation of the information provided as part of the Services. 

28. Notwithstanding any other provision of this agreement, Centrix’s total liability to the Subscriber or Creditnet for damages for any cause whatsoever in connection with this agreement will under no circumstances exceed $1,000.

29. Without limiting the preceding, the Subscriber acknowledges as follow:

29.1 the Services will generally be available during normal business hours (being 8am to 5pm).  However, given that the Services are made available through communication links and networks which are supplied by external suppliers, the availability of the Services will be dependent on the performance of those external suppliers and any factors (environmental or otherwise) which might impact on those communication links and networks, all of which are outside the control of Centrix;

29.2 the Subscriber is responsible for all communication costs for access to the Services (including the communication links and networks to gain access to the Services);

29.3 access to the Services from Centrix will only be available to authorised users via a secure sign-on.

30. The Subscriber will indemnify Centrix for all costs, loss or damages resulting from any claim, suit, action or proceeding (collectively “Claim”) brought against Centrix to the extent that the Claim is based on, is connected to or arises out of:

30.1 any information that the Subscriber supplies to Centrix that is not accurate, up to date, complete or relevant, or is otherwise misleading;

30.2 any failure by the Subscriber to update any information as required under Schedule 1 so that it is not accurate, up to date, complete or relevant, or is otherwise misleading; or

30.3 any failure by the Subscriber to comply with any provision of the agreement.
In the event of a Claim, the Subscriber will provide to Centrix all documents and assistance reasonably required by Centrix.

SUSPENSION FROM USE

31. Centrix may suspend the Subscriber’s rights to use the Services if:

31.1 the Subscriber has failed to pay to Creditnet any amount due under this agreement on the due date for payment;

31.2 Centrix reasonably believes that the Subscriber or Creditnet is in breach of any provisions of this agreement or in breach of any laws or regulations; or

31.3 Centrix reasonably believes that the performance of its obligations under this agreement may be connected with any breach of laws or regulations; until such time as Centrix is satisfied that the factor(s) giving rise to the suspension is/are resolved. The Subscriber shall not be entitled to any rebate, credit, reduction in charges or other compensation in respect of any period of suspension.

GENERAL

32. Centrix may amend this agreement by providing the Subscriber and Creditnet 30 days written notice.

33. No rights of any party will be prejudiced or restricted by any indulgence or forbearance extended to the other party and no waiver by any party concerning any breach will operate as a waiver concerning any subsequent breach.

34. If any term, condition or proviso in this agreement is invalid or unenforceable, that term, condition or proviso will be severable, will be deemed to be deleted from this agreement and will not affect the validity or enforceability of other terms, conditions and provisos in this agreement.

35. This agreement (together with any schedules) constitutes the entire agreement between the parties concerning this agreement's subject matter and supersedes all prior agreements, understandings and communications, whether oral or written between the parties. 

36. Neither the Subscriber nor Creditnet may assign any of their interest in, or rights and obligations under this agreement without the prior written consent of Centrix.  Consent may not be unreasonably withheld or delayed if the proposed assignee or transferee has the resources and skills to meet the assigning or transferring party’s obligations under this agreement and executes an agreement of covenant with the other party agreeing to become bound on the same terms and conditions as this agreement.  Any change in the beneficial ownership of the Subscriber or Creditnet which alters its effective control shall be deemed a proposed assignment of this agreement under this clause.

37. This agreement will be governed by New Zealand's laws and the parties agree to accept the non exclusive jurisdiction of the New Zealand courts and any court which can hear appeals from those courts.

Commercial Credit Reporting

FEES

1. The Client shall pay an agreed Fee to Creditnet International Limited for each report during the continuation of the Agreement.

2. Creditnet International Limited may adjust the Fee at any time provided it gives the Client notice in writing of the adjustment not less than one month before the adjusted Fee is changed.

CONFIDENTIALITY

3. The Client shall treat each Credit Report received from Creditnet International Limited as confidential to be used solely for the purposes of the Client’s business.  At no time shall the Client communicate or cause to be communicated any information contained in a Credit Report to any person whatsoever other than to its employees acting in the course of their duties.

4. If a Client is specifically requested by any debtor referred to in a Credit Report to give details of the information concerning the debtor contained in the Credit Report the client may inform the debtor (and no other) that the source of the information was Creditnet International Limited.

5. Creditnet International Limited shall keep all information obtained from any Client strictly confidential.

LIABILITY

6. Creditnet International Limited shall not be liable to the client or to any other person for any loss or damage whatsoever it howsoever caused, arising directly or indirectly in connection with this Agreement or any Credit Report provided hereunder to the extent permitted by law.

7. Creditnet International Limited expressly excludes liability for direct, indirect or consequential loss or damage including, but not limited to loss of profit or anticipated saving, loss or damage to reputation or goodwill associated with the Client or any debtor or any other person referred to in any Credit report.

8. The benefit of these limitations on liability shall extend to Creditnet International Limited its officers, servants and agents.

PRIVACY ACT

9. The client undertakes to Creditnet International Limited that in respect of any information released to it, regarding the affairs of any debtor, that an authority to release such information and make inquiries as previously been completed and is held on file by the client.

INDEMNITY

10. The Client hereby agrees to indemnify Creditnet International Limited against any costs or losses (howsoever caused) which may be incurred by Creditnet International Limited as a result of any claim arising out of any information supplied to Creditnet International Limited by the Client.

TERMINATION

11. This agreement may be terminated by either party by one month’s written notice to the other.

GENERAL

12. For the purposes of this agreement the term “person” wherever the text shall permit shall include a partnership, firm, association or company.

Industry Groups

REPORTS

1. The Client shall supply to Creditnet International Limited a monthly Client Report being information on its debtors in the Industry.  The Client Report shall be compiled and shall include the details as required in Creditnet International Limited’s standard form for Client Reports as amended from time to time.

2. The Client shall deliver each monthly Client Report to Creditnet International Limited on or before a regular monthly deadline as shall be specified to the Client from time to time.  Where the Client has no information for inclusion in a Client Report for that month it may elect to inform Creditnet International Limited of that fact in substitution for its Client Report.

3. Should the Client not supply a Client Report to Creditnet International Limited for any particular month or inform Creditnet International Limited that It has nothing to report as provided in clause 2.2 above the Creditnet International Limited may elect not to supply an Industry Report for that month to the Client unless there are reasonable grounds for the Client’s failure to provide that months Client Report such as computer breakdown, staff absenteeism or similar.

4. Any amount which is the subject of a genuine dispute shall not be included by the Client in any Client report.

5. As soon as practicable after the Client report deadline Creditnet International Limited shall compile and deliver to the Client and Industry Report for that month from all Client Reports received from its clients  in the Industry.

6. In respect of the Industry Report is assembled from information provided to Creditnet International Limited by the Industry and whilst every care is taken to insure the reports are accurate.  Creditnet International Limited accept no liability for inaccurate or misleading information which may be submitted and included in the report by it in good faith.

FEES

7. The Client shall pay an agreed fee to Creditnet International Limited monthly during the continuation of this agreement.

8. Creditnet International Limited may adjust the Fee at any time provided it gives the Client notice in writing of the adjustment not less than one month before the adjusted Fee falls.

CONFIDENTIALITY

9. The Client shall treat each Industry Report received from Creditnet International Limited as confidential to be used solely for the purposes of the Client’s business.  At no time shall the Client communicate or cause to be communicated any information whatsoever other than to its employees acting in the course of their duties.

10. If a Client is specifically requested by any debtor referred to in an Industry Report to give details of the information concerning the debtor contained in the Industry Report the Client may inform the debtor (and no other) that the source of information was Creditnet International Limited.

11. Creditnet International Limited shall keep all information contained in any Client Report strictly confidential PROVIDED THAT Creditnet International Limited may use the same to compile the Industry Report for that month and distribute the Industry Report at its discretion.  At no time shall Creditnet International Limited indicate in any Industry Report to whom any debt is owing.

12. If at any time Creditnet International Limited shall have received only one Client Report on a debtor for any month it shall not compile and distribute and Industry Report on the debtor for that month without permission from that Client.

13. Any information provided by Creditnet International Limited in the provision of Industry Reporting services to the Client cannot be communicated, reproduced, copied, distributed, republished, sold, broadcast, circulated or imitated in whole or part without written permission by Creditnet International Limited.

LIABILITY

14. Creditnet International Limited shall not be liable to the Client or to any other person for any loss or damage whatsoever it howsoever caused, arising directly or indirectly in connection with this Agreement or any Industry Report provided hereunder to the extent permitted by law.

15. Creditnet International Limited expressly excludes liability for direct, indirect or consequential loss or damage including, but not limited to loss of profit or anticipated saving, loss or damage to reputation or goodwill associated with the Client or any debtor or any other person referred to in any Industry Report.

16. The benefit of these limitations on liability shall extend to Creditnet International Limited it officers, servants and agents.

PRIVACY ACT

17. The Client undertakes to Creditnet International Limited that in respect of any information released to it, regarding the affairs of any debtor, that an authority to release such information and make inquiries as previously been completed and is held on file by the Client.

INDEMNITY

18. The Client hereby agrees to indemnify Creditnet International Limited against any costs or losses (howsoever caused) which may be incurred by Creditnet International Limited as a result of any claim arising out of any information supplied to Creditnet International Limited by the Client.

ASSIGNMENT

19. The Client must not transfer or assign any right or obligation under this agreement without prior written consent of Creditnet International Limited.

TERMINATION

20. This agreement may be terminated by either party by one month’s written notice to the other.

21. Creditnet International Limited reserves the right to terminate this agreement at any time if the Client breaches any of these terms and conditions.

22. The indemnity clause will nevertheless survive any such termination.

GENERAL

23. For the purposes of this Agreement the term “person” wherever the text shall permit shall include a partnership, firm, association or company. 

AMENDMENTS

24. We reserve the right to amend these terms and conditions from time to time. Amendments will be effective immediately upon notification to you. Your continued use of the service following such notification will represent an agreement by you to be bound by the terms and conditions as amended.

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