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Privacy Policy

01 Sept 2019

We take the collection of your personal information seriously

Moni Market Financial Services Limited and its affiliates (referred to as “Moni Market”, “we”, “our” or “us”) understand that if you provide personal information to us, you are trusting us to use the personal information for proper purposes. You have our assurance that we will take all reasonable steps to ensure that the personal information you provide to us is protected from misuse or unauthorised disclosure. Personal information collected through our Website, any loan application submitted to us, any loan you hold with us or through any communications you have with us will be held by us in accordance with ‘best practices to ensure the privacy of your personal information’

What personal information do we collect

When you use our Website, apply for or hold a loan from us, or otherwise make enquiries of us, we may request you provide us with personal information, such as your name, email address, telephone numbers, credit card details, bank account details, details of your employment (including income levels and employer’s name), and driver licence number (which is voluntary for you to provide to us, unless we require it as part of the terms of your loan application and/or loan). All the personal information you provide us with your loan application will be collected and stored by us for the purpose of us assessing your application and, if your application is successful, for our administration and any enforcement of the loan. If you fail to give us any personal information we request, we may decline your loan application, restrict the services or products accessible to you and/or be unable to respond to your enquiries.

When you visit our Website we may also collect more personal information, such as the address of your Internet service provider, the name of the web page directing you, and your activity on our site.

We may also collect personal information about you from third parties, such as credit reporters, credit agencies, referees, your present, future or former employer, any other creditor you have, and any former creditor.

When you provide us with your personal information, you are consenting to our use of such information and our right to disclose it to third parties.

How do we collect the personal information

We collect personal information in the following ways:

• Directly from you when you:
  • complete and submit to us any loan application form;
  • request us to provide our products and services or make an enquiry about our products and services; or
  • subscribe to any communications from us or a third party who we have dealings with such as updates, publications or newsletters.
• In the course of providing our products and services to you.
• Directly from you or from third parties acting on your authority or who you authorise us to make contact with about you.
• Publicly available information searched as part of carrying out checks or as part of the provision of our products or services to you.
• The agents and service providers that we may engage to assist us with fulfilling any of the purposes recorded in this Privacy Policy.

How do we use the personal information

We may use your information:

• to process your loan application;
• to provide you with services so that we can meet our contractual obligations to you;
• to verify your identity;
• to contact you or reply to your enquiries;
• to conduct credit and other checks concerning your identity and creditworthiness, for debt collection purposes, for our own internal purposes (such as risk management, staff training and billing);
• to help us to develop our Website to be more available and user friendly to our customers;
• to administer your loan with us and for any other use which you may authorise from time to time;
• where you are in default in making loan payment to us (including interest payments), to contact your employer to advise your employer of your default and to have money deducted from your wages to meet your loan payments;
• to communicate with you about our products and services and the products and services of our affiliates and of third parties that we consider may be of interest to you;
• as reasonably necessary for our business operations and purposes; and
• to make your information available to third parties who may have products or services that we consider may be of interest to you, or who may wish to offer to provide products or services to you.

Who we disclose the information to

We may disclose your information to our affiliates for any of the purposes outlined above. In addition, in providing our products and services to you, or in carrying out any of the other functions mentioned above, we may also disclose your personal information to our contractors or agents, and any other organisations, as follows:

• Where we are under a duty to comply with the law.
• Where we need to enforce any of our Credit Agreement with you including, our General Terms and Conditions.
• To reputable third parties to enable statistics to be gathered about our customers and related site functions. It is possible that those statistics will identify you.
• To any assignee, transferee, potential assignee or potential of our transferee of our interest in your loan for the purpose of assigning or transferring any rights we have under any loan with you, or any associated rights.
• Where you have consented to receiving promotional materials, to any third party that wishes to contact you in respect of services or products we, or they, think may interest you.
• Where we are either buying a business or assets or selling our business or assets, including our Website.

Additionally, we may use other companies and individuals to perform services on our behalf, such as sending correspondence (including mail and emails), processing payments (for example, our bank) and conducting any loan collection or enforcement services. They will have access to your personal information needed to perform the relevant services, but we will not authorise them to use your information for any other purposes.

We may also disclose information we hold about you to credit reporting bodies for the following purposes:

• assessing your credit capacity, eligibility or history in connection with an application for a loan;
• collecting payments from any loan you hold with us; and
• managing our credit relationship with you.

A credit reporting body may also use your information for other credit reporting services, including the provision of positive or comprehensive credit reporting and the provision of that information to the credit reporting body’s customers.

Cookies

Our Website uses a technology called cookies. A cookie is a small element of data that our Website may send to your computer. Any cookie is typically stored on your computer’s hard drive and permits our Website to recognise you when you return. Our use of cookies helps us to provide you with a better service when you use our Website by allowing us to understand what areas of the site are of interest to you. You may configure your web browser to not accept cookies, although you may not have access to some websites as a result.

Security

We take security seriously and have taken steps to ensure your personal information is safeguarded against loss, interference and unauthorised access, modification and disclosure, and misuse. We use secure servers and industry standard data encryption whenever we are receiving or transferring your information online.

Marketing

By making a loan application to us you consent to us contacting you by email, SMS or telephone. We will not be responsible if any message is received by another person who has access to your computer, mobile phone or telephone. You may elect not to receive marketing material by clicking unsubscribe or by contacting us on

Access to information

You may request access to any of your personal information we hold. You may request that the personal information we hold about you be corrected. If you wish to do this, you can contact us on the email provided.

What about links to other websites

Our Website may contain links to other sites that are not under our control. These websites have their own privacy policies and we encourage you to review them. We have no responsibility for linked websites, or their communication with you, and provide them solely for your information and convenience. If you do not wish to receive marketing material from another website provided, you will need to contact the administrator of the relevant website.

Policy changes

We reserve the right to change this Privacy Policy at any time and if we do so we will post an updated version of this Privacy Policy on our Website.

General Terms And Conditions For Unsecured Loans (01/09/2019)

Parties:

Customer (Borrower)

Moni Market Financial Services Limited (Lender)

The following terms form part of any Credit Agreement between the Borrower and the Lender.

1.	Interpretation
1.1	Definitions: Terms used in these terms and any associated Credit Agreement have the following meaning: “Business Day” means a day that the Lender’s bank is open for business; “CCCFA” means the Credit Contracts and Consumer Finance Act 2003; “Credit Agreement” means the credit agreement between the Borrower and the Lender pursuant to which the Lender agrees to make a loan available to the Borrower on the terms set out in the Loan Disclosure and these terms (and includes the Loan Disclosure). “Expiry Date” means the date specified as such in the Loan Disclosure. “Interest Rate” means the annual interest rate stipulated in the Loan Disclosure. “Lender” means Moni Market Financial Services Limited (including ‘Moni Market’) and any assignee referred to in clause 8.2 “Loan” means the principal amount of the loan made available by the Lender to the Borrower under the Credit Agreement. “Loan Disclosure” means the disclosure relating to the disbursement of the loan to the Borrower, including information contained herein, and as stipulated on the Loan Agreement. “Payment Date” means a date specified for a repayment instalment in the Loan Disclosure.
1.2	Interpretation Person A reference to a “person” includes an individual, company, body corporate, association of persons (whether corporate or not), trust, state or agency of a state or other entity, in each case whether or not having separate legal personality. Headings are to be ignored in construing these terms. Parties References to parties are references to parties to the Credit Agreement, and include reference to their successors and permitted transferees and assignees. Clauses References to clauses are references to such as they appear in these terms. Examples No example or instance shall limit whatever else may be included. Money References to money are to Papua New Guinea currency. Legislation References to legislation or to a provision of legislation includes a modification or re-enactment of it, a legislative provision substituted for it and a regulation or statutory instrument issued under it. If the Borrower wishes to read any legislation referred to the Borrower can view it at http://www.legislation.govt.nz/. “upon demand” means upon demand in writing signed by the Lender or made electronically by the Lender, or on behalf of the Lender by any officer, employee, solicitor or agent of the Lender. Business Day Convention Where any date which is specified in, or determined pursuant to the terms, would otherwise fall on a day that is not a Business Day, that date will be adjusted so that it will be the first following day that is a Business Day, unless that day falls in the next calendar month, in which case that date will be adjusted so that it will be the first preceding day that is a Business Day.
2.	LOAN
2.1	Loan amount: If the Lender accepts the Borrower’s application, the Lender may approve all or part only of any Loan requested by the Borrower and may, in the Lender’s absolute discretion, credit any such lesser amount to the account of the Borrower as the Lender may determine.
2.2	Loan advance: The Lender will advance the Loan as specified in the Loan Disclosure.
3.	REPAYMENT AND CANCELLATION
3.1	Repayment: The Loan together with accrued and unpaid interest and any other amounts outstanding to the Lender (including fees) shall be due and payable on each Payment Date (if applicable and in the amount specified in the Loan Disclosure) and, if not already paid, on the Expiry Date. All payments are to be free of any deduction or set-off.
3.2	Cancellation: The Borrower may cancel the Loan within 7 working days of the statement date shown on the front of the Loan Disclosure (in the manner specified in the Loan Disclosure) and immediately repay the Loan together with all accrued interest thereon. The Lender may charge the Borrower the amount of any reasonable expenses the Lender necessarily incurs in connection with the Credit Agreement and its cancellation.
3.3	Prepayment: The Borrower may prepay the Loan (or any part of it) at any time, without any prepayment charge or premium. If the Borrower prepays the Loan in full, the premium for any insurance financed by the Loan will, where required by the law, be proportionately rebated to the Borrower.
4.	INTEREST
4.1	Payment: The Borrower shall pay ordinary interest on the Loan at the Interest Rate. Such interest shall be calculated daily on the unpaid balance at the end of each day (and upon the basis of a 365-day year) from (and including) the date upon which the Loan is made to (and including) the date upon which it is repaid, shall be debited and capitalised daily in arrears, and shall be payable as provided in clause 3.1.
5.	AUTHORITY TO DEDUCT
5.1	Salary and wage deduction: The Borrower agrees that, if the Borrower has not paid any amount owing to the Lender when due, the Lender may deduct that amount directly from the salary or wages of the Borrower and consents to the Lender contacting the employer of the Borrower to effect such deduction.
5.2	Direct debit: The Borrower authorises the Lender (until further notice in writing) to debit by way of a direct debit from any account or accounts that the Borrower holds with any bank or other financial institution, every amount due under the Credit Agreement.
5.3	Debit card charge (where applicable): The Borrower authorises the Lender to charge every amount due under the Credit Agreement to any debit card held by the Borrower. The Borrower shall provide the Lender with the necessary debit card details to make the payment and give all such payment instructions to a debit card issuer as the Lender may require for this purpose.
6.	FURTHER ASSURANCES
6.1	The Borrower shall if and when requested by the Lender and at the cost of the Borrower execute all such agreements, assurances and other documents and do all such acts and things as the Lender may require to better protect the Lender and its security position, or if the Borrower has failed to do something the Borrower has agreed with the Lender to do. This includes arranging or amending any direct debit authority, updating any debit card details and payment instructions to any debit card issuers, and doing any other thing the Lender may require to facilitate the deduction of any amounts due from salary or wages of the Borrower (to the extent that the Borrower has not withdrawn consent for the deduction from salary or wages within the applicable notice period).
7.	NOTICES AND DISCLOSURES
7.1	Any notice given by the Lender under the Credit Agreement shall be deemed to be validly given and served if done so by SMS text message, email or post, in each case to the Borrower’s address or number recorded in the Loan Disclosure or if given and served in accordance with any other method recognised by law.
7.2	In respect of any disclosure statement to be provided to the Borrower under the credit agreement: (a) the Borrower nominates the Borrower’s email address as specified in the Loan Disclosure (or such other email address as the Borrower may notify to the Lender) as the information system to which any such disclosure statement may be sent. Any such disclosure statement may be provided to the Borrower by sending the Borrower an electronic communication that allows the disclosure statement to be accessed from a website or by means of the internet; and (b) without limiting clause 7.2(a), the Borrower further agrees that any disclosure statement that governing law requires to be provided to the Borrower may be disclosed to the Borrower by enabling the Borrower to access the relevant information on the Lender’s website at http://monimarketpng.com.
7.3	The Borrower nominates the Borrower’s email address as specified in the Loan Disclosure (or such other email address as the Borrower may notify to the Lender) as the address to which any notice or other document to be provided to the Borrower that may be sent by way of an electronic communication (including any notice relating to the enforcement of security over consumer goods or relating to an unforeseen hardship application) may be sent.
8.	ASSIGNMENT AND DISCLOSURE
8.1	The Borrower may not assign or otherwise transfer or grant an encumbrance over all or any of its rights, benefits and obligations under this Credit Agreement.
8.2	Any reference in these terms, the Loan Disclosure, or the Credit Agreement generally to “the Lender” shall be construed to include a reference to the Lender and the assignees and transferees of all or any of the Lender’s rights and obligations hereunder or thereunder
9.	GOVERNING LAW
9.1	These terms and the Credit Agreement are governed by and shall be construed in accordance with the laws of Papua New Guinea. Each party irrevocably and unconditionally submits to the non-exclusive jurisdiction of the courts of Papua New Guinea.
10.	DEFAULT, REMEDIES AND WAIVERS
10.1	Powers on default: If the Borrower fails to comply with the Credit Agreement, the Lender may: (a) declare the Loan and all unpaid interest and other amounts owed to the Lender to be due and payable; and (b) exercise any right or remedy it has under the Credit Agreement or by law.
10.2	Default interest: If the Borrower does not pay any amount due under the Credit Agreement on or before the due payment date, the Borrower shall pay the Lender default interest on the overdue amount (both before and after judgment) at the default interest rate specified in the Loan Disclosure. Such default interest shall be calculated and debited at the end of each day (and upon the basis of a 365 day year) from (but excluding) the due payment date up to (and including) the date on which the overdue amount is paid in full, and shall be payable immediately upon being debited. Any default interest that is not paid when due shall itself be treated as an overdue amount that is part of the Loan and itself bear default interest under this clause 10.2
10.3	Delay and waiver: Time shall be of the essence of the Credit Agreement but no failure to exercise, and no delay in exercising, any right or remedy of the Lender under the Credit Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy preclude any other nor further exercise thereof or the exercise of any other right or remedy. No waiver by the Lender of any default, right or remedy under the Credit Agreement shall be effective unless it is in writing signed by the Lender.
10.4	Circumstances beyond Lender’s control: The Lender and Borrower shall not be in breach of the Credit Agreement if there are circumstances beyond the Lender’s control, such as the failure of the Lender’s bank to process a payment or natural disaster occurs.
11.	COSTS, FEES, APPLICATION OF PAYMENTS, AND ACCOUNTS
11.1	Fees: The Borrower will pay all credit fees and default fees payable from time to time as described on the Lender’s website at http://monimarketpng.com under the “Fees” section. The Borrower shall pay any such fee on the first Payment Date after the day on which the fee has been debited to the Borrower’s account (or, if no such Payment Date remains, on demand by the Lender).
11.2	Costs: The Borrower will on demand by the Lender pay all costs, expenses, and liabilities incurred by the Lender in connection with the exercise or attempted exercise by the Lender of any of the Lender’s powers, rights or remedies under the Credit Agreement.
11.3	Application of payments: The Lender may apply any payment or amount it receives or recovers from the Borrower to reduce the total amount owing under the Credit Agreement in whatever order the Lender determines.
11.4	Statements: A statement signed by the Lender’s representative will, in the absence of obvious error, be conclusive evidence against the Borrower of the amount of any money owing and of any other matter set out in the statement.
12.	PRIVACY
12.1	The Lender’s privacy policy (as amended from time to time, and available at https://monimarketpng.com/privacy-policy) is incorporated in, and forms part of, these terms and the Credit Agreement.

1. That the Privacy Policy will apply to all personal information I provide to Moni Market, or otherwise collected by Moni Market, for or in connection with this application and/or the loan;
2. To my personal information being collected, used, and disclosed as set out in the Privacy policy; and
3. I expressly agree to the disclosure of my personal information by Moni Market to third parties who may have products or services that Moni Market considers may be of interest to me, in accordance with Moni Market’s Privacy Policy for the purposes of those third parties sending information about their products and services to me.