1. Introduction
1.1 These Terms and Conditions (Terms) govern the access to, and use of, the services provided on the System operated by Pancake Loan Pty Ltd, by mortgage brokers (Broker, you or your). By subscribing to the System, you agree to be bound by these Terms. If you do not accept these Terms, you must not access or use the services.
2. Definitions
2.1 In these Terms, unless the context otherwise requires:
Broker means Reginsun Credit Pty Ltd (ACN 165 224 055, ABN 26 165 224 055) ACL 445579 initially, however at a future date it may include other entities who have subscribed to the System for the purpose of brokering loan services to Users.
Pancake Loan, We, Us or Our means Pancake Loan Pty Ltd (ACN 689 500 418, ABN 60 689 500 418) CRN 571667, the entity operating the System.
System means the online portal provided and owned by Pancake Loan, and hosted using cloud infrastructure, which may be accessed through the Website which provides access to a calculation tool, customer portal and related borrowing services.
User means any individual or entity who uses the System.
Website means http://www.pancakeloan.com.
3. Scope of Service
3.1 The System:
- enables Users to access a program which includes a calculation tool which can be used in relation to a User’s credit enquiries;
- requires Users to have an account on the Website before submitting credit enquiries into the calculation tool and receiving outputs;
- collates and processes the inputs of the Users into the System through proprietary software that analyses, among other elements, preferences, and credit information for analysis;
- generates outputs by way of email from the information provided by the Users
- allows Users, at their discretion, to provide the calculation outputs, along with supporting documentation, to Brokers to assist them to formulate a proposal as to which may be a suitable or preferred loan available from bank and non-bank lenders in the market for that User; and
- facilitates a connection between Brokers and Users via the System’s customer portal should the User elect to connect with Brokers.
3.2 The System is initially launched with Reginsun Credit Pty Ltd ACL 445579 as the sole mortgage broker providing broking services for Users on the System. In the future, Pancake Loan may offer the use of the System for other mortgage brokers to provide broking services to Users on the System.
3.3 Brokers:
- must maintain an up-to-date profile on the System, including areas of service, lending products, and licensing information;
- may communicate with Users via the customer portal, or any other designated contact methods in the System;
- acknowledge that the outputs on the System are formulated by the System (and relevant software) based on the User’s input parameters and are not manually determined by Pancake Loan.
3.4 Pancake Loan does not act as a party to, nor does it participate in the negotiation or facilitation of any financial agreements between the Broker and Users. Accordingly, Pancake Loan does not assume any responsibility for the outcome of such engagements.
3.5 The System is intended primarily for use in connection with business and commercial loan purposes. However, the System may also be used, from time to time, at the discretion of Pancake Loan, for personal, domestic or household credit or consumer lending activities under the National Consumer Credit Protection Act 2009 (Cth) (NCCP Act) or other applicable laws.
3.6 To the extent permitted by law, the Broker acknowledges and agrees that:
- the Australian Consumer Law (ACL), as set out in Schedule 2 to the Competition and Consumer Act 2010 (Cth), does not apply to the use of the System or any interactions facilitated through it, except in circumstances where the System is used in connection with personal, domestic or household credit or consumer lending activities;
- any statutory guarantees, warranties or rights that may otherwise apply under the ACL are expressly excluded to the fullest extent permitted by law, except in circumstances where the User is a consumer for the purposes of section 3 of the ACL in connection with consumer loan activities; and
- the Broker warrants and represents that it is using the System wholly or predominantly for commercial loan purposes, unless it is using the System in connection with consumer credit or home loan applications.
3.7 In circumstances where the System is being used for personal, domestic or household credit or consumer lending activities, the Broker will ensure that it complies with its responsible lending obligations in relation to that User as outlined in Chapter 3 of the NCCP Act.
4. Pancake Loan’s Role and Obligations
4.1 Where a User accesses and uses the calculation tool in the System solely for general or indicative purposes, and not with the intention of providing data to assist a Broker in analysing a credit enquiry and/ or formulating a loan or mortgage proposal:
- Pancake Loan provides access to the calculation tool in the System as an informational and technological tool only;
- the User inputs all information into the calculation tool at its own risk and acknowledges that Pancake Loan does not verify the accuracy, completeness or suitability of any information entered into the System by way of processing the User’s inputs, or by way of generating results;
- there is no Broker involved in the process or the System;
- Pancake Loan does not, in connection with this general use, in the context of any consumer enquiry related to consumer credit:
- process the User’s inputs for the purposes of acting as an intermediary or providing credit assistance; and/ or
- act as an intermediary or credit representative,
4.2 Where a User uses the calculation tool with the intention of engaging with a Broker to obtain credit assistance:
- if the User intends to use the calculation tool for the purpose of seeking personal, domestic or household credit or consumer loans, Pancake Loan will act as a credit representative (Credit Representative No 571667) of the Broker known as Reginsun Credit Pty Ltd ACL 445579 and may provide intermediary services to assist the Broker in its provision of credit assistance;
- if the User uses the calculation tool for the purpose of seeking business or commercial loans:
- Pancake Loan does not act as a credit representative (or provide any intermediary services or credit assistance for the avoidance of doubt); and
- any credit assistance, lending activities or related advice for a commercial borrower are the sole responsibility of the Broker
4.3 Pancake Loan does not operate as a lender, credit provider, credit assistance provider, broker or financial adviser. In its limited role in relation to consumer credit enquiries, Pancake Loan may act as an intermediary as explained in Section 4.2 of these Terms.
4.4 Credit arrangements or loan discussions are entered into solely between the User and the Broker. The Broker is responsible for all advice, disclosures, regulatory compliance, suitability assessments, and any credit-related obligations in connection with credit assistance provided by the Broker.
4.5 You acknowledge and agree that:
- Pancake Loan is not involved in the provision of financial services; and
- Pancake Loan does not make or participate in offers of credit or lending and does not provide credit assistance;
4.6 In its absolute discretion, Pancake Loan may refuse to allow any individual or entity to become a Broker.
4.7 Pancake Loan is not responsible for, and does not warrant the truth or accuracy of, any aspect of any information provided by Users.
4.8 You acknowledge and agree that:
- Pancake Loan does not undertake any investigation in relation to any User before they sign up to the System;
- You are solely responsible for conducting any appropriate background checks on Users;
- You are solely responsible for making your own evaluations, decisions and assessments in relation to any action you take with respect to information provided by the System and information provided by any User;
- Information provided on and available from the System does not constitute financial, taxation or other professional advice and should not be relied upon as such; and
- You assume all risks and you agree to expressly release, indemnify and hold harmless Pancake Loan from any and all loss, liability, injury, death, damage, or costs arising or in any way related to the services.
5. Eligibility and Use
5.1 To be eligible to subscribe to the System, Brokers must:
- Hold all necessary licences, certifications and registrations required under the applicable Australian law to act as mortgage brokers;
- Be authorised to broker mortgage and loan products;
- Comply with all applicable laws, regulations and industry codes; and
- Provide accurate and up-to-date documentation upon request.
5.2 Brokers must create an account with an email address and password to access the System (Pancake Loan Account) and are responsible for maintaining the confidentiality and security of their login credentials. You are responsible for all activities that occur under your Pancake Loan Account regardless of whether the activities are authorised by you or undertaken by you, and Pancake Loan is not responsible for unauthorised access to or use of your password or Pancake Loan Account. You should take all necessary steps to ensure that your password is kept confidential and secure and should inform Pancake Loan immediately if you have any reason to believe that your password has become known to anyone else, or if your password is being, or is likely to be used in an unauthorised manner. You must ensure that the details you provide to Pancake Loan are correct and complete and inform Pancake Loan of any changes. You can access and update certain information you have provided to Pancake Loan in the System.
5.3 Use of the System does not guarantee the number or quality of leads generated.
5.4 These Terms do not create any partnership, joint venture or employment relationship between the Broker and Pancake Loan.
5.5 Brokers agree to use the System professionally, with integrity, and not use the System:
- in any way that causes, or is likely to cause, the System, or any access to it, to be interrupted, damaged or impaired in any way,
- in any way that may interfere with or harm any other Broker or User;
- for fraudulent purposes, or in connection with a criminal or other unlawful activity,
- in any manner that is not permitted under these Terms
- to misrepresent services or qualifications; nor
- to engage in conduct that may harm the reputation of Pancake Loan, Users or other Brokers.
5.6 At any time, you may cease using the System, terminate your Pancake Loan Account, or remove or edit information you have submitted.
6. Fees
6.1 Any fees to be paid by the Broker to Pancake Loan for the Broker’s use of the System will be agreed separately in writing between the Broker and Pancake Loan.
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7. Electronic Communications
7.1 You agree that where Pancake Loan is required, by law or otherwise, to provide you with a document, you consent to the provision of that document electronically through the links on the System. We suggest that you print a copy of the document, or file it electronically, for future reference.
8. Intellectual Property
8.1 Pancake Loan owns, or is the licensee of, the intellectual property rights in the content of the System, including text, photos, graphic designs, images, algorithms and software.
8.2 Brokers may not copy, reproduce or distribute any part of the System without prior written consent.
8.3 Subject to clause 8.4, you retain all the rights in and to the content that you submit or post on or through the System.
8.4 By submitting and posting your content on the System:
- you consent to Pancake Loan disclosing your content and personal information with relevant third parties; and
- you consent to Pancake Loan using your information to send you information about products and services that may be of interest to you. You can unsubscribe from receiving this information at any time by emailing us at contact@pancakeloan.com.
9. Rights of Use and Access
9.1 Subject to compliance with these Terms and payment of fees (if applicable), Brokers are granted a non-exclusive, non-transferable right to access and use the System.
10. Privacy
10.1 Pancake Loan collects and processes personal data in accordance with its Privacy Statement (a copy of which can be found here) and and applicable Australian privacy legislation. By using the System, you consent to the collection, use, and disclosure of your personal data, including but not limited to business contact details and financial information provided through the System. Pancake Loan will take reasonable steps to protect personal data from misuse, interference, loss, and unauthorised access, modification, or disclosure.
10.2 Brokers must treat all leads, data, and information obtained through the System as confidential and comply with the Privacy Act 1988 (Cth) and any other applicable privacy laws.
11. Disclosure to overseas entities
11.1 Pancake Loan does not generally disclose personal information obtained from cookies, or otherwise, to overseas entities in the course of its activities.
12. Sanctions
12.1 Pancake Loan reserves the right to take action, including without limitation by restricting, suspending or terminating your access to the System without notice if it reasonably suspects you have breached these Terms or committed unlawful conduct.
12.2 Termination of your access to the System does not relieve you of any accrued obligations.
12.3 The action Pancake Loan elects to take and any notice you may receive will vary depending on Pancake Loan’s reasonable assessment of relevant factors.
13. Software Terms
13.1 You may use the software contained on the System (Pancake Loan Software) solely to use the System, and as permitted by these Terms. You may not incorporate any portion of the Pancake Loan Software into your own programs or compile any portion of it in combination with your own programs, transfer it for use with another service, or sell, rent, lease, lend, loan, distribute or sub-license the Pancake Loan Software or otherwise assign any rights to the Pancake Loan Software in whole or in part. You may not use the Pancake Loan Software for any illegal purpose. Pancake Loan may cease providing any Pancake Loan Software and it may terminate your right to use any Pancake Loan Software at any time. Your rights to use the Pancake Loan Software may be terminated without notice from us if you fail to comply with any of these Terms. All software used on the System is the property of Pancake Loan or its software suppliers and protected by applicable laws protecting copyright and other intellectual property rights.
13.2 Unless explicitly permitted under applicable mandatory law, you may not, and you will not encourage, assist or authorise any other person to copy, modify, reverse engineer, decompile or disassemble, otherwise tamper with, or bypass any security associated with the Pancake Loan Software, whether in whole or in part, or create any derivative works from or of the Pancake Loan Software.
13.3 Pancake Loan reserves the right to implement safety measures to maintain system integrity.
13.4 In order to keep the Pancake Loan Software up-to-date, Pancake Loan may offer automatic or manual updates at any time and without notice to you.
14. Disclaimers
14.1 You understand and agree that your use of the System is provided “as is” and “as available”. Pancake Loan does not represent or warrant that the operation of the System will be secure, confidential, uninterrupted, error-free, accurate, complete, current or free from viruses or other harmful components.
14.2 Updates and maintenance are regularly carried out on the System, so Pancake Loan may have to suspend access, service or functionality on the System from time to time without notice. Pancake Loan will not be liable if, for any reason, the System is not available at any time or for any period of time.
14.3 The System is hosted using cloud infrastructure. While Pancake Loan takes reasonable steps to ensure the availability, security, and performance of the System, it does not guarantee uninterrupted access or that the System will be free from errors, interruptions, or unauthorised access. You acknowledge and agree that the hosting of the System on third-party infrastructure may be subject to outages, delays, or technical limitations outside the control of Pancake Loan.
Regulatory Disclaimers
14.4 Pancake Loan does not hold an Australian Financial Services Licence (AFSL).
14.5 The information and tools provided on the System do not constitute financial or legal advice and should not be relied upon as such.
14.6 The Broker known as Reginsun Credit Pty Ltd holds an Australian Credit Licence (ACL) (ACL 445579) which authorises it to provide credit assistance. As stated above, Pancake Loan is a credit representative of Reginsun Credit Pty Ltd (Credit Representative No 571667).
14.7 Pancake Loan and the Broker known as Reginsun Credit Pty Ltd are registered members of the Australian Financial Complaints Authority (AFCA).
15. Limitations of Liability
15.1 Pancake Loan is not liable for any direct, indirect, incidental, special or consequential loss, including but not limited to loss of profits, goodwill, data or other intangible losses, arising from:
- the use or inability to use the System;
- unauthorised access to or alteration of your data;
- conduct of third parties, including Users or other Brokers; or
- reliance on any content or interactions facilitated through the System.
15.2 You acknowledge that the System serves as a calculation tool and as a platform which connects mortgage brokers and borrowers seeking access to loan and mortgage broking services, and that Pancake Loan does not endorse, warrant, or guarantee the services or representations of any party using or listed on the System.
16. Indemnities
16.1 You agree to indemnify, defend, and hold harmless Pancake Loan and its affiliates, officers, agents, employees, and licensors from any claims, damages, obligations, losses, liabilities, costs or debt, and expenses (including legal fees) arising from:
- your use of and access to the System;
- your breach of any term of these Terms;
- your violation of any third-party right, including without limitation any copyright, property, or privacy right; or
- any claim that your conduct caused damage to a third party.
17. Applicable Law
17.1 These Terms are governed by and construed under the laws of New South Wales.
17.2 Any disputes are subject to the exclusive jurisdiction of the courts of New South Wales.
18. Amendments
18.1 Pancake Loan reserves the right to modify these Terms at any time. Brokers will be notified of material changes.
18.2 Continued use of the System constitutes acceptance of the amended Terms.
19. Severability
19.1 If any parts of these Terms are void, unenforceable or illegal, they will be severed and the remainder of these Terms will continue to have full force and effect.
20. Waiver
20.1 Any failure by Pancake Loan to enforce any provision will not constitute a waiver of that provision or any other provision.
21. Contact Details
21.1 For general inquiries please email contact@pancakeloan.com or call (+612) 9948 8780.
21.2 Address for service of notices:
Pancake Loan Pty Ltd
Suite 405,35 Lime Street,
Sydney NSW 2000
22. Notices
22.1 Notices may be delivered via email, post, or through System notifications.
23. Procedure for Complaints/Disputes
23.1 Brokers must first attempt to resolve complaints or disputes with Pancake Loan through direct communication.
23.2 If unresolved, the matter will proceed to mediation in New South Wales before court proceedings may be initiated. Any such dispute or difference will be submitted to arbitration in accordance with, and subject to, the Institute of Arbitrators and Mediators Australia Fast Track Arbitration Rules. The seat of arbitration will be Sydney, Australia. The language of the arbitration will be English. The number of arbitrators will be one.
24. Entire Agreement
24.1 These Terms constitute the entire agreement between the parties. Brokers may not assign rights without written consent from Pancake Loan.