Common use of Default Fees Clause in Contracts

Default Fees. In the event of a breach of this Agreement or on enforcement of this Agreement, the following default fees may be payable: • A Default Fee of $13.95 may be payable to us if a scheduled repayment is returned unpaid. You must also pay any dishonour fee charged by your bank; • A Final Notice Fee of $15.00 may be payable to us if we need to write to you providing notice that your loan is in default and enforcement action may commence; • Collection fees imposed by a third party we engage to recover outstanding amounts; and • any other expense we, or a third party we have engaged, reasonably incurs in connection with your breach, or the enforcement of this Agreement including legal fees and court costs incurred on a full indemnity basis. We will not take a security interest over any of your property to secure your obligations under this Agreement. Part B Your right to cancel this Agreement and what to do if you suffer unforeseen hardship Statement of right to cancel Right to cancel The Credit Contracts and Consumer Finance Act 2003 gives you a right to cancel this agreement. Time limits for cancellation You must give notice that you intend to cancel within 7 working days of entering into this agreement. Saturdays, Sundays, and national public holidays are not working days. How to cancel To cancel, you must give us written notice by: • giving notice to us or one of our employees or agents; or • posting the notice to us or an agent of ours; or • emailing the notice to our email address What you may have to pay if you cancel If you cancel the contract, we can charge you the amount of any reasonable expenses we had to pay in connection with the contract and its cancellation, and interest for the period from the day you received the advance until the day you repay the advance. What to do if you suffer unforeseen hardship If you are unable to reasonably keep up your payments or other obligations because of illness, injury, loss of employment, the end of a relationship, or other reasonable cause, you may be able to apply to the creditor for a hardship variation. To apply for a hardship variation, you need to: • make an application in writing; and • explain your reason(s) for the application; and • request one of the following: o an extension of the term of the contract (which will reduce the amount of each payment due under the contract); or

Default Fees. In the event of a breach of this Agreement or on enforcement of this Agreement, the following default fees may be payable: • A Default Fee of $13.95 may be payable to us if a scheduled repayment is returned unpaid. You must also pay any dishonour fee charged by your bank; • A Final Notice Fee of $15.00 may be payable to us if we need to write to you providing notice that your loan is in default and enforcement action may commence; • Collection fees imposed by a third party we engage to recover outstanding amounts; and • any other expense we, or a third party we have engaged, reasonably incurs in connection with your breach, or the enforcement of this Agreement including legal fees and court costs incurred on a full indemnity basis. We will not take a security interest over any of your property to secure your obligations under this Agreement. Part B Your right to cancel this Agreement and what to do if you suffer unforeseen hardship Statement of right to cancel Right to cancel The Credit Contracts and Consumer Finance Act 2003 gives you a right to cancel this agreement. Time limits for cancellation You must give notice that you intend to cancel within 7 working days of entering into this agreement. Saturdays, Sundays, and national public holidays are not working days. How to cancel To cancel, you must give us written notice by: • giving notice to us or one of our employees or agents; or • posting the notice to us or an agent of ours; or • emailing the notice to our email address What you may have to pay if you cancel If you cancel the contract, we can charge you the amount of any reasonable expenses we had to pay in connection with the contract and its cancellation, and interest for the period from the day you received the advance until the day you repay the advance. What to do if you suffer unforeseen hardship If you are unable to reasonably keep up your payments or other obligations because of illness, injury, loss of employment, the end of a relationship, or other reasonable cause, you may be able to apply to the creditor for a hardship variation. To apply for a hardship variation, you need to: • make an application in writing; and • explain your reason(s) for the application; and • request one of the following: o an extension of the term of the contract (which will reduce the amount of each payment due under the contract); or

Default Fees. In the event of a breach of this Agreement or on enforcement of this Agreement, the following default fees may be payable: • A Default Fee of $13.95 may be payable to us if a scheduled repayment is returned unpaid. You must also pay any dishonour fee charged by your bank; • A Final Notice Fee of $15.00 may be payable to us if we need to write to you providing notice that your loan is in default and enforcement action may commence; • Collection fees imposed by a third party we engage to recover outstanding amounts; and • any other expense we, or a third party we have engaged, reasonably incurs in connection with your breach, or the enforcement of this Agreement including legal fees and court costs incurred on a full indemnity basis. We will not take a security interest over any of your property to secure your obligations under this Agreement. Part B Your right to cancel this Agreement and what to do if you suffer unforeseen hardship Statement of right to cancel Right to cancel The Credit Contracts and Consumer Finance Act 2003 gives you a right to cancel this agreement. Time limits for cancellation You must give notice that you intend to cancel within 7 working days of entering into this agreement. Saturdays, Sundays, and national public holidays are not working days. How to cancel To cancel, you must give us written notice by: • giving notice to us or one of our employees or agents; or • posting the notice to us or an agent of ours; or • emailing the notice to our email address What you may have to pay if you cancel If you cancel the contract, contract we can charge you the amount of any reasonable expenses we had to pay in connection with the contract and its cancellation, and interest for the period from the day you received the advance until the day you repay the advance. What to do if you suffer unforeseen hardship If you are unable reasonably to reasonably keep up your payments or other obligations because of illness, injury, loss of employment, the end of a relationship, or other reasonable cause, you may be able to apply to the creditor for a hardship variation. To apply for a hardship variation, you need to: • make an application in writing; and • explain your reason(s) for the application; and • request one of the following: o an extension of the term of the contract (which will reduce the amount of each payment due under the contract); or