Legal Archive Website Terms of Use — Effective from January 2019

Website Terms of Use — Effective from January 2019

Harmoney Australia Limited

This website is owned by Harmoney Australia Limited (referred to on this website as Harmoney, we, our or us) under the domain name Your use of this website is governed by these terms of use. By accessing and browsing this website you agree to be bound by these terms of use (as amended from time to time) and Harmoney's Privacy Policy.

These terms of use are in effect from 23 January 2019.

How the Harmoney online platform works ("the Service")

    1. You acknowledge and agree that:
      1. Harmoney provides the Service under an Australian Credit Licence issued by the Australian Securities and Investments Commission.
      2. You may have only one loan outstanding at any time, under a Loan Agreement, with a Loan Amount of not more than $70,000 (excluding the "Platform Fee") in relation to that Loan)
    2. In providing the Service, Harmoney will (and will procure that its Related Entities who provide any aspect of the Service will):
      1. exercise the care, diligence, and skill that a prudent licensee for the Service would exercise in the same circumstances; and
      2. if any aspect of the Service is contracted out, take all reasonable steps:
        1. to ensure that those functions are performed in the same manner, and are subject to the same duties and restrictions, as if Harmoney were performing them directly; and
        2. to monitor the performance of those functions.


    1. If you are a co-borrower then:
      1. you will have the same rights and obligations as the borrower under a Loan Agreement, both jointly and severally;
      2. you consent to Harmoney providing your personal information to the other of you; and
      3. Harmoney will be entitled to accept instructions from either of you (without reference to the other) in respect of your rights and obligations under a Loan Agreement.

Registration as a borrower

    1. In order to access and use the Service, you must register as a borrower by completing the borrower application. Harmoney reserves the right not to register any person as a borrower if that person has not completed the registration process to Harmoney's satisfaction or does not meet Harmoney's eligibility criteria.
    2. Harmoney's eligibility criteria for registering as a borrower are:
      1. you must be a natural person (that is, not a company, partnership, incorporated society, trust, or other legal entity);
      2. you must be an Australian Citizen or Permanent resident or New Zealand Citizen, which Harmoney will verify through you having an Australian residential address and a bank account with a registered Australian bank;
      3. you must be 18 years of age or older when you register; and
      4. you must have an acceptable credit record, as determined by Harmoney at its discretion.
    3. Harmoney may terminate or suspend your registration as a borrower at any time by notice to you if Harmoney reasonably believes that you are not complying with the website terms or are otherwise not using the Service for its intended purpose.
    4. Disclaimer of warranties
      1. Whilst we will use our best endeavours to ensure that the Service meets your needs and objectives, you must rely on your own judgment as to the fitness and suitability of the Service for your particular purpose
      2. Except for applicable non-excludable consumer guarantees, rights or warranties ("Consumer Guarantees") under consumer laws we do not give any warranties or guarantees in relation to the Service.
      3. Nothing in these website terms is to be taken to exclude, restrict or modify any Consumer Guarantee as described in (b) above that we are prohibited by law from excluding, restricting or modifying. To the extent that a Consumer Guarantee applies (and where the relevant Service are not of a kind ordinarily acquired for personal, domestic or household use) our liability for breaches of that Consumer Guarantee is limited, as far as the law permits, to the re-supply of the Service or the cost of the re-supply.
      4. To the extent permitted by law, we exclude all liability for indirect or consequential damage, loss of income, loss of profit or interruption of business.
      5. No agent who promotes our Service is authorised to act as our agent to agree or negotiate or change any term of a Loan Agreement or to make any warranties or representations about it, oral or otherwise. You may have rights against us (in particular if we are a "linked credit provider" under consumer laws).
    5. You may terminate your registration as a borrower at any time by notifying Harmoney through the website or via 1800 042 766 or
    6. If your registration is terminated or suspended, these website terms will continue to apply in respect of any existing Loans and Loan Agreements to which you are a party when the termination or suspension takes effect.
    7. Subject to clause 11, these website terms will apply to you for so long as you are registered as a Borrower.

Loan Process

    1. If you want to take out a Loan using the Service, you must complete a Loan Application in which you nominate:
      1. the proposed Loan Amount; or
      2. the lesser amount that Harmoney is willing to lend you based on your serviceability;
      3. if the Loan Application provides for this option, the lesser amount you agree to accept if the proposed Loan Amount is not reached by the end of the Listing Period; and
      4. the Repayment Period.
      5. The proposed Loan Amount and any lesser amount which you will accept must each be expressed as a multiple of $25.00. The amount you apply for will include an amount payable as a Platform Fee (Establishment Fee) that you must pay to Harmoney if you obtain the Loan.
    2. As part of the Loan Application, you must provide Harmoney with details of your bank account with a registered bank in Australia, from which payments are to be made by you in respect of your loan. By providing those details you agree to Harmoney establishing a direct debit authority against that bank account on the terms set out in the authority in relation to any amount payable by you to Harmoney under a loan agreement.
    3. If Harmoney approves your loan application for listing on the platform, it will state the maximum loan amount and the interest rate applicable to your application. You may then select the loan amount from the information provided by Harmoney (i.e select the maximum loan amount approved by Harmoney or a lesser amount that you wish to take up). Following this selection, your loan Application (together with those details, including the Loan Repayments) will comprise your Loan Listing for that Loan.
    4. Your Loan Listing will be listed by Harmoney on its website, for consideration by Investors, during the Listing Period. You may withdraw your Loan Listing at any time before the Loan Agreement has been formed (as set out in clause 15) by cancelling your Loan Listing on the website.
    5. If your Loan is Fully Funded before the Listing Period expires, Harmoney will:
      1. notify you of that fact by accepting your offer to borrow; and
      2. provide you with a Loan Agreement and Loan Agreement Details setting out the key terms of the proposed Loan:
      3. You
        1. agree to and consent to receiving communication by electronic means;
        2. (nominate the email address specified in the Loan Application (or such other email address as you may notify to Harmoney) as the information system to which the Loan Agreement and Loan Agreement Details may be sent; and
        3. agree that the Loan Agreement and the Loan Agreement Details may be provided to you by sending you an electronic communication that allows the Loan Agreement and the Loan Agreement Details to be accessed from the Harmoney website or by means of the Internet.
      You should contact Harmoney if you are not clear as to any of the information set out in the Loan Agreement Details.

Loan Agreement

    1. Immediately after Harmoney has accepted your offer to borrow and provided the Loan Agreement Details to you, a Loan Agreement will come into existence under which we will agree to advance the Loan Amount to you. The Loan Agreement Details will be treated as provided to you on the day on which it is emailed to you or otherwise sent to you by electronic communication (within the meaning of the Electronic Transactions Act 1999 (Cth).


    1. Your Loan will be Settled on the next Business Day after Harmoney has provided you with the Loan Agreement and the Loan Agreement Details.
    2. At Settlement, Harmoney will:
      1. collect the funds that make up the Loan Amount from the Participating Investors, and deposit the Loan Amount in the Harmoney Advance Account; and
      2. as authorised by you:
        1. deduct an amount equivalent to the Platform Fee from the Loan Amount, and transfer it to Harmoney's Fee Account (in satisfaction of your obligation to pay that Platform Fee to Harmoney); and
        2. transfer the balance of the Loan Amount to your Nominated Account or as directed by you.

Collection Service

    1. Harmoney will provide (itself or through a third party) collection and enforcement Service (collectively, Collection Service) in respect of your Loans. The Collection Service include:
      1. monitoring all payment obligations under each Loan Agreement;
      2. taking appropriate steps to contact you for payment arrears; and
      3. taking appropriate recovery action where there is a payment default.


    1. You acknowledge and agree, in respect of Harmoney, each Related Company of Harmoney, and their respective employees, directors, officers, agents, and contractors (together, "Relevant Persons) that:
      1. none of the Relevant Persons will be liable in respect of:
        1. any failure to provide the Service or otherwise to comply with this Agreement, if the failure or non-compliance is caused by events beyond its reasonable control; or
        2. to achieve any funding in respect of any Loan Listing;
      2. the liability (if any) of any Relevant Person in relation to any Loan will be limited to the amount of the Platform Fee actually received by Harmoney for that Loan.
    2. Whilst Harmoney will take reasonable steps to assess, the suitability of the Service for your needs, you acknowledge that you do not rely on Harmoney's skill or judgment as to the suitability or otherwise of the Service for your specific needs, in terms of providing a service through which you can seek to have loans funded.
    3. You acknowledge that the website may not be available at all times and that Harmoney will not be liable to you for any loss of profit or opportunity (however described) arising from any inability to access the website at any time.

Back-up Service Provider

    1. If a Harmoney Servicer Default occurs, a back-up servicer will be appointed to carry out the role of Harmoney. Any such appointment will not affect your rights and obligations under a Loan Agreement. The appointed back-up servicer from time to time will have the same rights as Harmoney did, without further action being necessary.

Communications and Disputes

    1. Harmoney may provide you with communications in relation to the provision of the Service, including notices and disclosures, by mail or in an electronic form, including by email.
    2. You must provide notices to Harmoney by mail (posted to its registered address) or by email to the email address below.
    3. If you have any questions about the Service or the terms of this Agreement, please contact Harmoney as follows:
      Phone: 1800 042 766
    4. Harmoney is a member of Australian Financial Complaints Authority (AFCA). AFCA is a free and independent disputes resolution service that assists individual customers. AFCA can be contacted on 1800 931 678 or at

Anti-money Laundering Obligations

    1. Harmoney, and certain persons who Participate or propose to Participate in Loans to you (Affected Investors) may have initial, ongoing or enhanced customer due diligence and other obligations under the Anti-Money Laundering and Counter Terrorism Financing Act 2006 (Cth) (or equivalent legislation in other countries) and related regulatory directives or guidelines. You agree promptly on request by Harmoney to provide it with any information and documents that are reasonably required to enable Harmoney, or any Affected Investor to comply with those obligations. You authorise Harmoney (subject to relevant Privacy laws), to disclose any information or documents it holds about you (including any information or documents you provide to Harmoney under this clause 33) to any Affected Investor for this purpose.

Glossary of Terms

  1. In these Website Terms:
    • Advance Account means the bank account operated by Harmoney into which funds are transferred by Harmoney from the Investor Account when an Order is accepted, and from which Harmoney transfers funds to the relevant Borrower's Nominated Account at Settlement;
    • Borrower means a natural person who has registered as a Borrower with Harmoney;
    • Business Day means a day other than a Saturday, Sunday, or statutory public holiday in Australia;
    • NCCP Act means the National Consumer Credit Protection Act 2009, the National Consumer Credit Protection Regulations and the National Credit Code;
    • Collections Account means the bank account operated by Harmoney
      1. into which Loan Repayments and other amounts payable by Borrowers for the benefit of Investors are paid; and
      2. from which any tax deductions or withholdings on interest comprised in Loan Repayments are deducted and paid over to the Australian Taxation Office, the Investor Fees, and any actual collection costs, expenses, and liabilities incurred in enforcing and recovering any amounts owing under any Loans are paid to Harmoney, and the balance is repaid to the Investor Account for the benefit of the relevant Investors;
    • Collection Service has the meaning given to that term in clause 19;
    • Fully Funded in relation to a Loan Listing or a Loan means that Harmoney has received sufficient Orders from Investors to fund the full amount of:
      1. the proposed Loan Amount; or
      2. any lesser amount you agreed to accept, as specified in the relevant Loan Listing;
    • Harmoney Servicer Default means the liquidation of Harmoney or Harmoney having its Australian Credit licence revoked or suspended;
    • Interest Rate means the annual interest rate (expressed as a percentage rate per annum) which is set by Harmoney in respect of a Loan Listing;
    • Investor means, as the context requires:
      1. a person who has registered as an Investor with Harmoney; or
      2. in relation to a Loan, a Participating Investor;
    • Investor Account means a trust account held by Harmoney for the benefit of all Investors whose funds have been deposited into that account for the purpose of investment or reinvestment in Participations or pending repayment to the Investors' nominated accounts, in accordance with their interests;
    • Investor Fees means the service fees and collection fees which are charged by Harmoney and paid by Investors in relation to the Service, as set out on the website under the "Interest Rates & Fees" section;
    • Listing Period means the period from the date a Loan Listing is first listed on the website to the earlier of 14 days from that date and the date on which the Loan which is the subject of that Loan Listing is Fully Funded;
    • Loan means the Loan Amount lent by Harmoney to a Borrower, using the Service, and where applicable includes the amount of all compounded and capitalised interest;
    • Loan Agreement in relation to a Loan means the agreement under which that Loan is made, as described in clause 16
    • Loan Agreement Details means, in respect of any Loan, the initial disclosure which is provided to the Borrower in respect of that Loan;
    • Loan Amount means, as the context requires:
      1. the amount that a Borrower wishes to borrow (inclusive of the amount of the Platform Fee payable on the Loan), as set out in the relevant Loan Listing; or
      2. the total amount of the Loan at Settlement (inclusive of the amount of the Platform Fee deductible by Harmoney at Settlement), as set out in the Loan Agreement Details;
    • Loan Application means the application for a Loan, which is set out on the website;
    • Loan Listing means a listing on the website which is placed by a Borrower and accepted by Harmoney, and which sets out the details of a Loan which the Borrower wishes to have funded;
    • Loan Repayments means, as the context requires:
      1. the monthly payments of principal and interest which will be payable by the Borrower in respect of the Loan Amount specified in a Loan Listing; or
      2. the monthly payments of principal and interest which are payable by the Borrower on a Loan which has Settled;
    • Nominated Account means the Australian bank account which is nominated by a Borrower from time to time as the account into which Loan advances are to be paid by Harmoney for that Borrower at Settlement;
    • Platform Fee means the fee payable by the Borrower to Harmoney for arranging any Loan that Settles, which is a percentage of your Loan Amount as set out in your Loan Agreement and on the website under the "Interest Rates & Fees" section;
    • Primary Borrower means the Borrower who is the first named applicant under the Loan Agreement;
    • Related Entities, related body corporate, related party has the meaning given to that term under the Corporations Act 2001;
    • Repayment Period in relation to a Loan means the period (in months) for which the Loan has been made to you which you accepted on the website;
    • Service means the lending service which Harmoney provides through the website;
    • Settlement in relation to a Loan means:
      1. Harmoney arranging for the collection of funds from all Investors who have had their Order on the relevant Loan Listing accepted, and deducting the applicable Platform Fee for Harmoney's own account and transferring the balance of the Loan Amount to the Borrower's Nominated Account (all via the Advance Account); and the time at which the above transfer occurs, and Settle and Settled have corresponding meanings;
      2. the time at which the above transfer occurs, and Settle and Settled have corresponding meanings.
    • Website means the website at, or such other website as Harmoney may from time to time operate to provide the Service.
  2. Intellectual Property
    All intellectual property on this website, including without limit, the text, graphics and copyright works is owned by us (or our relevant content supplier). We are the exclusive owner of all rights in the compilation, design and layout of this website.
  3. Right to Use this website and Content
    You may access, view, reproduce and print the content on this website provided you only use that content for your personal use, or otherwise in relation to using or considering using any of the services we provide through this website. Unless expressly agreed otherwise, products and services advertised on the Harmoney website will be provided only to Australian Citizens or permanent residents or New Zealand Citizens. These products and services are not available to foreign nationals due to Australian compliance requirements. If you wish to link to any part of this website, you must obtain our prior written consent.
  4. Exclusion of Liability
    Whilst Harmoney endeavours to ensure that all information on this website is free from error; to the extent permitted by law:
    • all warranties, representations and guarantees (whether express, implied or statutory) are excluded, including without limit, suitability, fitness for purpose, accuracy or completeness of this website or the content on or accessed through it; and
    • we will not be liable for any damage, loss or expenses, or indirect losses or consequential damages of any kind, suffered or incurred by you in connection with your access to or use of this website or the content on or accessed through it.
    Although we have tried to ensure the content on this website is current, accurate and complete, we do not guarantee that such content will be current, accurate or complete when you access it. We will take action, within a reasonable time, to correct any error or inaccuracy which is brought to our attention. You acknowledge that this website may not always be available or some of the functions on this website may be temporarily unavailable and that we will not be liable to you in respect of any inability to access or use this website at any time.
  5. Third Party Websites
    This website may contain links to third party websites. These websites are not controlled by us. We do not check, endorse, approve or agree with third party websites that this website links to. Any goods and services or offers made on the third party websites are given by the third party website operator and Harmoney disclaims any actions of the third party website operator, (including breach of intellectual property rights), and makes no representations about the quality, accuracy, or fitness for purpose of material or products or services available through the third party websites. If you use a link from the Harmoney website to a third Party website, the third Party website operator is responsible for the security and privacy of your information when you are viewing that website.
  6. Privacy Policy
    The Privacy Policy available on our home page governs the collection, use and disclosure of your personal information by us. The Privacy Policy forms a part of these terms of use. Harmoney does not collect any personal information about you when you use this website
  7. Jurisdiction and Governing Law
    This website and content have been prepared in accordance with the requirements of Australian law. These terms of use and any matters or disputes connected with this website will be governed by Australian law and will be dealt with by Australian courts. The Harmoney website may not comply with laws of other countries and should not be relied on by persons in countries other than Australia.
  8. Copyright and Trade Marks
    Copyright in the Material on this website is owned by or licensed to Harmoney. Except where necessary for viewing the Material on this website on your browser, or as permitted under the Copyright Act 1968 (Cth) or other applicable laws or these Terms of Use, no Material on this website may be reproduced, adapted, uploaded to a third party, linked to, framed, distributed, displayed or transmitted in any form by any process without the specific written consent of Harmoney.
  9. Amendments
    We may amend these website terms of use from time to time, so you should check and read these terms of use regularly. By continuing to use this website after any such amendment, you are deemed to have agreed to the amended terms of use. You must not use any trade mark displayed on the Harmoney website in any way without our express written consent.

Harmoney Australia Limited holds Australian Credit Licence No. 474726