1. Definitions

 

Client(s) means the users who are given the opportunity to use the Services including Listing Services “Service”;

Intellectual Property means all intellectual property rights of whatever nature anywhere in the world conferred under statute, common law or equity and includes rights in respect of or in connection with copyright, whether or not registered or registrable, and includes the right to apply for or renew the registration of such rights;

Banks means Financial Institutions;

Khai Kwan is a law firm and a Legal Professional as defied below;

Legal Professional means an Australian lawyer with a valid practising certificate in one of the Australian States and Territories or other professionals qualified to provide legal services (e.g., migration agent, conveyancer, patent attorney or trade mark attorney);

Website means the website https://bankguru.com or any other website within the domain of bankguru.com;

You and your refer to an individual, company or organisation that has visited, read or is using the Website and/or the its associated products or services.

2. About the Website

 

2.1 The Website is a platform that provides technology powered loan listing facilitation products and services to Clients and Banks’ and Legal Professionals, which includes, but is not            limited to:

(a) Application to list loan applications and loan syndication;

(b) Expression of interest to Clients by Banks by making an offer corresponding to said loan application;  

(c) Upon acceptance by Client to terms of offer for loan, provision of Independent Legal Advisory Service for loan documents provided by Khai Kwan; and

(d) Syndication and predicting the future of borrowing rate. (collectively, referred to as the “Services”).  

2.2 The Website is provided and operated by Khai Kwan. Access to and use of the Website, or any of its associated products and/or Services, are oversee by Khai Kwan and/or relevant third parties. Access to and use of any third party products and/or services through the Website are subject to these terms and conditions (the “Terms“) and any third party terms referenced herein or brought to your attention during your use of the Website and/or its associated products or services.

2.3 Please read these Terms carefully. By using, reading or browsing the Website, registering to post a loan application, and/or clicking “I agree”, this signifies that you have read, understood and agreed to be bound by the Terms and our Privacy Policy found at https://bankguru.com/privacy_policy.html  If you do not agree to the Terms or the Privacy Policy, you must cease usage of the Website and any of its associated products or Services immediately.

2.4 Bankguru reserves the right to review and change any of the Terms by updating this page at its sole discretion at any time. Any changes to the Terms will take effect immediately from the date of their publication. Your access and use of the Website after Bankguru makes any changes constitute your acceptance of any such changes and you will be bound by those changes. If you do not agree to any changes, you must cease usage of the Website and any of its associated products or Services immediately.

3. As Clients

3.1 In order to access the Services, you are required to provide information.

3.2 You warrant that any personal and/or registration information you provide to Khai Kwan will always be accurate, correct and up to date.

3.3 You understand that by supplying Bankguru with your address, email address and phone number, you may receive regular emails, newsletters, telephone calls or SMS updates from. If you do not wish to receive updates from Bankguru, you may contact Bankguru at admin@bankguru.com

3.4 You may not register for an account and may not use the Services if:

(a) you are not of legal age to form a binding contract; or

(b) you are a person barred from using the Services under the laws of Australia or other countries including the country in which you are resident or from which you use the Services.

3.5 By posting a loan listing or using the Services, you represent and warrant to Bankguru that:

(a) you have reached the legal age in your jurisdiction;

(b) you have the right, authority and capacity to agree to and abide by the Terms;

(c) if you are using the Services on behalf of a business, that business is taken to have accepted the Terms and you are taken to have been duly authorised to bind the business; and

(d) you will use the Website in a manner consistent with any and all applicable laws, regulations and all other policies (if any).

4. Obligations of Client

4.1 As a Client, you agree to comply with the following:

(a) use the Website only for purposes that are permitted by the Terms and any applicable law, regulation or generally accepted practices or guidelines in the relevant jurisdictions;

(b) notify Bankguru immediately following any unauthorised or any other breach of security;

(c) not to use the Website for any illegal and/or unauthorised use, including, but is not limited to, collecting email addresses of Clients or Banks by electronic or other means for the purpose of sending unsolicited email or unauthorised framing of or linking to the Website; and

(d) you acknowledge and agree that any automated use of the Website or its Services is prohibited.

Part A –Services

5. Listing

5.1 A Client may use the loan listing services via the Website.  

5.2 Your access to and use of the Service is limited to reasonable use. Reasonable use means that the volume of data, frequency of use and concurrency of use does not interfere with another Client’s use of the Service. Bankguru may, at its sole discretion, terminate your right to access and use the Service in the event that you breach this reasonable use provision.

5.3 The Client may not transfer or assign responses from Bankers or the benefits associated with the Bank’s proposal to any other person.

5.4 Bankguru may, in its sole discretion, accept or refuse to provide its products and/or services to you at any time and for any reason subject to a written notice.

5.5 Bankguru reserves the right to change the benefits provided in Services, at any time, in its sole discretion, with or without notice, including but is not limited to, limiting the number of Banks connections the Client may receive in a given period of time.

Part B – Banks / Quoting Services

6. About the Bank’s Services

6.1 Bankguru uses an online platform to facilitate engagement between Banks and Clients seeking loan assistance. This Service provides Clients with access to Banks for the purpose of considering loan listing.

6.2 Submission of a quote request

(a) A Client may post a loan listing provided by the Website.

(b) When completing the form, the Client must provide a sufficiently detailed description of the Client’s current requirements and any other relevant information and/or documents.

(c) By submitting a loan listing, this is deemed a quote or expression of interest request. Bankguru takes every reasonable effort to ensure the privacy of Clients and other personal details on our Website, however, we cannot guarantee confidentiality.

6.3 Receipt of quotes or expression of interest from Banks

(a) Upon submission of a quote request, the Client may receive up to 3 quotes from the Banks (the Offer).

(b) The Banks are NOT provided with your contact details including your name, email and phone number in order to make contact and scope the quote request. It is up to you to contact them directly.

(c) The Banks will specify the scope the type of loan, the rate charged, any fee and the name of the Banker responsible in the quote.

(d) The Client should be careful that the Offer is based on information provided by the Client and may be subjected to change. At this stage you should clarify with the Banker any doubts you may have or engage Khai Kwan to negotiate the terms of the loan should you wish to proceed further. There is a fee for this service depending on the nature of the loan and is separate from the Independent Legal Advisory Service requirement.

(e) By asking the Bank to prepare loan documents (as the Bank charges this), the Client is taken to have accepted the quote or the Bank’s Offer as the case may be (ie subsequent to the quote) and Khai Kwan is contracted to review those loan documents on your behalf under the Independent Legal Advisory Service requirement. Should you wish to disengaged Khai Kwan then you will have to pay a Break-up Fee to Bankguru. There is no break-up fee if you do not accept the Bank’s Offer.

(f) There is no obligation for any Banks to make an Offer. But if they do make an offer, the Bank is required to:

(i) provide his/her personal and/or company details (such as email address and the name of the bank);

(ii) specify the fees (excluding GST) and any government or non-government disbursements fees;

(iii) the terms of the loan; and

(iv) specify the timeframe for completion. The Bank acknowledges that if no time frame is specified, he/she will complete the work within a reasonable period of time.

(g) For the avoidance of doubt, if there is a dispute relating to the Services being provided under the Quoting Services, the dispute resolution procedures set out in clause 16 apply. 

Part C – Independent Legal Advisory Services

7. Khai Kwan is contracted by Bankguru to offer independent review and advice services for the Bank’s loan documents on behalf of the Client unless Khai Kwan releases the Client from this requirement as this is consideration for loan application listing on bankguru. Alternatively, the Client pays a break-up Fee to Bankguru to release it from engaging Khai Kwan after it accepts an offer from the Bank. Unless stated otherwise, the Break-up Fee is halved of the Independent Legal Advisory Service Fee.  The Client need not pay any fee if it does not accept any Bank’s Offer or there is no Offer.

 

General Terms

7.1 To finalise the Loan process, a Client is required to have sought independent legal advice for the loan documents, Ordinarily, this means the Client will need to engage a lawyer to provide this service which must be acknowledged by the lawyer. We make this easier by providing Khai Kwan a lawyer that is independent and without conflict to any banks as he has never offered his services to any banks.

7.2 You and Client agree as consideration for listing on this Website, Khai Kwan is contracted by you to provide this service as your independent legal adviser. Should you wish to use your own personal lawyer, a “break-up” fee is required which shall not be less than half of the Independent Advisory Services Fee currently at AUD 500 (inclusive of GST as the case may be).

7.3 If Client is not agreeable to 7.2 above, then Client should not list Client’s or your loan application here or use any of the Services mentioned above.

7.4 Client understand this Independent Legal Advisory Service is in the form of a digital podcast which will be made available to the Client as soon as the Client provides copies of the Loan Documents for Khai Kwan to advice on. In addition, 2 (30 mins) consultation by whatever means electronically as follow up is included.

7.5 To avoid doubt, this Independent Legal Advisory Service is pre-condition for listing and does not apply to re-negotiating the terms of the Loan Documents and Clients are advised that they must understand the loan terms before executing said Loan documents. 

Refunds

7.4 There is no refund for this Independent Legal Advisory Service.

 

General Terms

8. Payment

8.1 Payment for Services

(a) The Client must make payment for the Services prior to the commencement of the Services.

(b) The Services will only commence once payment is confirmed by the Website.

(c) To allow payment, valid credit card information is due at the time of purchase or via paypal or a third party provider will be announced from time to time. This amount may include additional fees or commission imposed by the service provider.

9. Confidential Information

9.1 In this clause, “Confidential Information” means any documents or information created, received or obtained by the Client from or on behalf of the Banks, Khai Kwan or any other party in respect of any consultation or services.

9.2 By accepting the Terms, you acknowledge and agree that you will not, during the course of the engagement or thereafter, use, disclose, solicit, or misappropriate any Confidential Information, trade secrets, or other proprietary information that belongs to any third-party, except with the prior written consent of that party or as required by law.

10 Website Content

10.1 You may read and copy the information on Bankguru for your own needs but you may not publish, resell or sub-licence it. Bankguru makes no guarantees, representations or warranties about the accuracy or legal correctness of any of the information on Bankguru.

10.2 User content

(a) In this clause, “User Content” means any and all information and content that a Client, Bank, or visitor of the Website, submits to or uses with the Website including listing of a loan application.

(b) Bankguru does not claim ownership of your User Content. Bankguru makes no guarantees about the User Content and Bankguru does not endorse or accept any responsibility for the User Content.

(c) You are solely responsible for your User Content. You assume all risks associated with the use of your User Content, including any reliance on its accuracy or completeness.

(d) You represent and warrant that your User Content does not violate any third party licenses.

(e) By posting a content onto the Website, you expressly grant to Bankguru and its successors an irrevocable, non-exclusive, transferrable, sub-licensable, perpetual, royalty-free, worldwide license to broadcast, republish, up-load to a third party, transmit, post, distribute, publicly display, and otherwise use and exploit your identifiable User Content. You hereby irrevocably waive any claims and assertions of moral rights with respect to your User Content.

(f) Bankguru reserves the right to review, remove or amend any User Content, but Bankguru does not have the legal obligation to do so.

(g) Information on the Website is no substitute for professional legal advice. You should not delay or forgo seeking legal advice or disregard professional advice based on information provided by the Website.

10.3 Third Party Website

(a) Bankguru works with a number of partners and affiliates whose websites are linked with Bankguru and are controlled by parties other than Bankguru (each a “Third Party Website”).

(b) Bankguru is not responsible for and does not endorse or accept any responsibility for the availability, contents, products, services or use of any Third Party Website, any website accessed from a Third Party Website or any changes or updates to such sites. Bankguru makes no guarantees about the content or quality of the products or services provided by such sites. If you have purchased a package that includes any Third Party Services, the third party may contact you by email and/or phone with instructions on how to access your benefits and to keep you informed of their services. You may be required to accept additional terms located on the Third Party Website.

(c) Certain services made available on the Bankguru Website are delivered by third parties. By using any product, service, or functionality originating from the Bankguru Website, you are allowing Bankguru to share information with any third party with whom Bankguru has a pertinent contractual relationship – any information necessary to facilitate its provisions of products, services, or functionality to you.

11. Copyright and Intellectual Property

11.1 The Website, the Services and all of the related products of Bankguru are subject to copyright. The material on the Website is protected by copyright under the laws of Australia and through international treaties. Unless otherwise indicated, all rights (including copyright) in the content and compilation of the Website (including but not limited to text, graphics, logos, button icons, video images, audio clips, Website, code, scripts, design elements and interactive features) (the “Content”) are owned or controlled for these purposes, and are reserved by Bankguru or its contributors.

11.2 Bankguru retains all rights, title and interest (including copyrights, patents and trade marks) in and to the Website, Services, products and all related content therein. Unless otherwise indicated, the Terms do not transfer to you any Bankguru or third party’s right, title, and interest in copyrights, patents and trade marks.

11.3 You may not, without the prior written permission of Bankguru and the permission of any other relevant rights owners: broadcast, republish, up-load to a third party, transmit, post, distribute, show or play in public, adapt or change in any way the Content or third party content for any purpose. This prohibition does not extend to materials on the Website which are freely available for re-use or are in the public domain.

11.4 You acknowledge and agree that Bankguru may use your logo, branding or other trademarks (the “Trademarks”) for marketing efforts. You grant to Bankguru a non-exclusive, non-transferable, royalty free right to use the Trademarks. If you do not wish that your Trademarks be used, you may request for a removal of your Trademarks from Bankguru’s marketing materials. Upon receipt of the request, Bankguru will use reasonable endeavours to remove the Trademarks from any future marketing material which is published 30 days from the date of the request.

12. General Disclaimer

12.1 Nothing in the Terms limits or excludes any guarantees, warranties, representations or conditions implied or imposed by law, including the Australian Consumer Law (or any liability under them) which by law may not be limited or excluded.

(a) If you are not a Consumer (under the Australian Consumer Law), you agree that Bankguru has no direct or indirect liability (including in negligence) to you in any way related to your use of Bankguru.

(b) If you are a Consumer (under the Australian Consumer Law), Bankguru limits all its direct and indirect liability (including in negligence) to you to the Consumer Guarantees under the Australian Consumer Law.

(c) Where there is a breach of the Consumer Guarantees, then to the maximum extent permitted by law, Bankguru’s liability to you is limited at its option to:

(i) in the case of goods, replacement or repair of the goods or payment of the cost of replacing or repairing the goods; and

(ii) in the case of services, resupply of the services or payment of the cost of re-supplying the services.

12.2 Subject to this clause12, and to the extent permitted by law:

(a) we exclude all representations, warranties or guarantees, whether express or implied, by statute, trade or otherwise; and

(b) we will not be liable for any liabilities, claims, costs and expenses (including legal costs), damage or injury or any special, direct, indirect or consequential loss or damage (unless such loss or damage is reasonably foreseeable resulting from our failure to meet an applicable Consumer Guarantee), loss of profit or opportunity, or damage to goodwill arising out of or in connection with the Services or these Terms (including as a result of not being able to use the Services or the late supply of the Services), whether at common law, under contract, tort (including negligence), in equity, pursuant to statute or otherwise.

12.3 Use of the Website and the Services is at your own risk. Everything in relation to the Website and the Services are provided to you “as is” and “as available” without warranty or condition of any kind. None of the affiliates, directors, officers, employees, agents, contributors, third party content providers or licensors of Bankguru make any express or implied representation or warranty about its Content or any products or Services (including the products or services of Bankguru) referred to on the Website. This includes (but is not restricted to) loss or damage you might suffer as a result of any of the following:

(a) failure of performance, error, omission, interruption, deletion, defect, failure to correct defects, delay in operation or transmission, computer virus or other harmful component, loss of data, communication line failure, unlawful third party conduct, or theft, destruction, alteration or unauthorised access to records;

(b) the accuracy, suitability or currency of any information on the Website, the Service, or any of its Content related products (including third party material and advertisements on the Website);

(c) costs incurred as a result of you using the Website, the Services or any of the products of Bankguru;

(d) the Content or operation in respect to links which are provided for your convenience; or

(e) any defamatory, threatening, offensive or unlawful conduct of third parties or publication of any materials relating to or constituting such conduct.

13. Limitation of Liability

13.1 Bankguru’s total liability arising out of or in connection with the Services or these Terms, however arising, including under contract, tort (including negligence), in equity, under statute or otherwise, will not exceed:

(a) the most recent fee paid by you to Bankguru for the purchase of the Services under these Terms; or

(b) where you have not paid the fee, then the total liability of Bankguru is the resupply of the Services to you, which shall be capped at a maximum amount of $1,000.00.

13.2 You expressly understand and agree that Bankguru, its affiliates, employees, agents, contributors, third party content providers and licensors shall not liable to you for any loss or damage, or for any direct, indirect, incidental, special, consequential or exemplary damages which may be incurred by you, however caused and under any theory of liability. This shall include, but is not limited to, any loss of profit (whether incurred directly or indirectly), any loss of goodwill or business reputation and any other intangible loss.

13.3 Bankguru is not responsible or liable in any manner for any user content or other content posted on the Website or in connection with the Services, whether posted by the Client or by the Legal Professional or by any other third parties.

13.4 Bankguru does not control and is not responsible for the behaviours and actions of other users, their comments, posts or information that they upload. Accordingly, Bankguru is not responsible for any offensive, inappropriate, obscene or unlawful content or actions that you may encounter on the Website or in connection with your use of the Services.

13.5 By using Bankguru Services to list a loan application and by accepting a Bank’s Offer corresponding to your loan application by howsoever means, you are deemed to create a lawyer-client relationship with Khai Kwan to review the loan documents only.  If you do not wish to create or deemed to create any relationship with Khai Kwan, you must not use any of the services on Bankguru.

13.6 Bankguru is not a lawyer or legal professional referral service. Khai Kwan is a lawyer and may refer other lawyers to you for the purposes of advising on the loan documentations. This will be based on another contract of service known as the Cost and Disclosure Agreement and a copy is found at the end of this Term.

13.7 Any claims you have arising out of the legal advice or Services obtained from Khai Kwan is to be brought against not Bankguru and you indemnify Bankguru from all claims, suits, demands and legal actions arising from any and all disputes between the Bank and Legal Professional.

14. Indemnity

14.1 You agree to indemnify Bankguru and its officers, directors, employees, sublicensees, agents, affiliates, successors and assigns from and against any and all claims, damages, liabilities, losses, settlements, costs and expenses (including, without limitation lawyers’ fees and court costs) which arise out of or relate to your use of the Website and/or Services, including but is not limited to:

(a) any misuse of the Website or Services by you, including and without limitation, any dishonest, inaccurate, incomplete, fraudulent, negligent, wrongful, unlawful, or criminal act or omission by you;

(b) any act or omission (including negligent acts or omissions) of the Legal Professional in the performance or purported performance of any Services;

(c) your breach of the Terms;

(d) the use of any intellectual property created in respect of the Services not contemplated by the Terms or as a consequence of a breach of the Terms; or

(e) any activity which you engage on or through Bankguru.

14.2 This indemnity will survive termination of the Terms.

15. Termination

15.1 Termination of the Services other than subscription services

(a) Either you or us may terminate the Terms or close your Listing at any time for any reason by email.

(b) If you want to terminate the Terms, you may do so by:

(i) providing Bankguru with fourteen (14) days’ notice of your intention to terminate; and/or

(ii) immediately closing your listing under the Services that you use, where Bankguru has made this option available to you.

(c) Bankguru may, at any time, for any reasons, terminate your access to all or any part of the Website or Services, with or without notice.

(d) Your elected termination will be effective upon receipt of the notice of your intention to terminate by Bankguru.

15.2 Termination of the Subscription services

(a)Termination by Bankguru

(i) If payment is not made on the Billing Date, as described above, you will have until the one (1) month anniversary of your Billing Date to correct the credit card information on file and post a payment to your account. If after the expiration of this grace period you have not made any payment on your subscription, your non-payment may result in downgrade or suspension of service and subsequent termination of your subscription.

(ii) Your right to use a subscription is subject to any limits established by Bankguru or by your credit/debit card issuer. If payment cannot be charged to your credit/debit card or your charge is returned for any reason, including through a chargeback, Bankguru reserves the right, in its sole and absolute discretion, to downgrade, suspend or terminate your access and account, thereby terminating this Agreement and all obligations hereunder. If a charge made to your credit/debit card is declined, Bankguru may make up to five (5) attempts to bill that card over a thirty (30) day period.

(iii) If you wish to reactivate your account after such termination, there will be no setup or reactivation fees; provided, however, accounts terminated for non-payment will be reactivated only on receipt of the full amount past due and a written request to reinstate the account. When an expired account is reactivated, the new term begins on the date of reactivation.

15.3 Termination of your relationship with Bankguru’s Service does not affect your relationship with any legal professionals you have retained through the Bankguru Website. All legal, contractual, and ethical duties, obligations and responsibilities survive termination of the Bankguru relationship.

15.4 All provisions of the Terms which by their nature should survive termination will survive termination, including, without limitation, confidentiality, non-solicitation, disclaimer, limitation of liability and indemnity.

15.5 When the Terms come to an end, all of the legal rights, obligations and liabilities that the Client, the Legal Professionals, the Banks and/or Bankguru have benefited from, been subject to (or which have accrued over time whilst the Terms have been in force) or which are expressed to continue indefinitely, shall be unaffected by this cessation, and the provisions of this clause shall continue to apply to such rights, obligations and liabilities indefinitely.

16. Dispute Resolution

16.1 Where there is a dispute between the Client and the Banks, Bankguru will not release the funds until the dispute is resolved or there is a court order requesting the funds to be released.

16.2 If a dispute arises between the Client and the Legal Professional, the Client and the Legal Professional agree to deal with the disputes pursuant to the dispute resolution procedures specified in the Costs Agreement (if applicable).

16.3 Where there is no Costs Agreement between the Legal Professional and the Client or whether the dispute falls outside the terms and conditions of the Costs Agreement, or where a Legal Professional or Client has a dispute with Bankguru, then you agree to comply with the following:

(a) Either party may not commence any legal proceedings in relation to the dispute, unless the following clauses have been complied with (except where urgent interlocutory relief is sought).

(b) A party to this Contract claiming a dispute (the “Dispute“) has arisen under the terms of this Contract, must give written notice to the other party detailing the nature of the Dispute, the desired outcome and the action required to settle the Dispute (the “Notice“).

(c) On receipt of the Notice by the other party, the parties to the Terms (the “Parties“) must within seven (7) days of the Notice endeavour in good faith to resolve the Dispute expeditiously by negotiation or such other means upon which they may mutually agree.

(d) If for any reason whatsoever, twenty-one (21) days after the date of the Notice, the Dispute has not been resolved the Parties must either agree upon selection of a mediator or request that an appropriate mediator be appointed by the President of the Law Society or Law Institute in the State or Territory where the Legal Professional is situated or his or her nominee and attend a mediation. In the case of a dispute with Bankguru, the President of the Law Society of New South Wales.

(e) It is agreed that mediation will be held in the nearest capital city in which the Legal Professional is situated. In the case of a dispute with Bankguru, Sydney Australia.

(f) For the avoidance of doubt, the Parties need not attend the mediation or other means of resolution in person. The Parties may attempt to resolve the matter via any means of electronic communications.

(g) The Parties are equally liable for the fees and reasonable expenses of a mediator and the cost of the venue of the mediation and without limiting the foregoing, undertake to pay any amounts requested by the mediator as a pre-condition to the mediation commencing. The Parties must each pay their own costs associated with the mediation.

(h) All communications concerning negotiations made by the Parties arising out of and in connection with this dispute resolution clause are confidential and to the fullest extent possible, must be treated as “without prejudice” negotiations.

(i) If thirty (30) days have elapsed after the start of a mediation of the Dispute and the Dispute has not been resolved, either party may ask the mediator to terminate the mediation and the mediator must do so.

(j) In the event that the Dispute is not resolved at the conclusion of the mediation, either party may institute legal proceedings concerning the subject matter of the Dispute thereafter.

17. Notice

Except as otherwise provided herein, all notices and other communications to you hereunder shall be in writing or displayed electronically in the Services by the provider thereof. Notices to you shall be deemed to have been properly given on the date posted, if posted; on the date first made available, if displayed in the Services; or on the date received, if delivered in any other manner. Notices to us should be sent to our account representative.

18. Relationship

Nothing in this contract is intended to create a partnership, joint venture, agency or employment relationship with either the Client or Legal Professional save for Khai Kwan being the contracted party engaged by Bankguru to provide the independent Legal Advisory Services for loan documents upon successful loan listing resulting in an offer of a loan or syndicated loans accepted by Clients.

19. Governing Law

The Terms are governed by the laws of New South Wales, Australia. Any dispute, controversy, proceeding or claim of whatever nature arising out of or in any way relating to the Terms and the rights created hereby shall be governed, interpreted and construed by, under and pursuant to the laws of New South Wales, Australia, without reference to conflict of law principles, notwithstanding mandatory rules. The validity of this governing law clause is not contested. The Terms shall be binding to the benefit of the parties hereto and their successors and assigns.

20. Venue and Jurisdiction

The Services offered by Bankguru are intended to be viewed by residents of Australia. In the event of any dispute arising out of or in relation to the Website, you agree that the exclusive venue for resolving any dispute shall be in the courts of New South Wales, Australia and the venue shall be Sydney Australia.

21. Entire Agreement

The terms constitute the entire agreement between the parties concerning the subject matter of the agreement and supersede all previous communications, representations, inducements, undertakings, agreements or arrangements between the parties (Clients, Legal Professionals, Banks).

22. Severance

The Terms will be enforced to the fullest extent permitted by applicable law.
If any part of the Terms is found to be void or unenforceable by a Court of competent jurisdiction, that part shall be severed and the rest of the Terms shall remain in force.

23. Waiver

23.1 A waiver of any right, power or remedy under this Agreement must be in writing signed by the party granting it.

23.2 A waiver is only effective in relation to the particular obligation or breach in respect of which it is given. It is not to be taken as an implied waiver of any other obligation or breach or as an implied waiver of that obligation or breach in relation to any other occasion.

23.3 The fact that a party fails to do, or delays in doing, something the party is entitled to do under this Agreement does not amount to a waiver.

24. Assignment

24.1 Bankguru may assign or transfer its rights or obligations under these Terms without your consent.

24.2 You may not assign or transfer your rights or obligations under these Terms without prior written consent of Bankguru. A purported assignment without written consent will be deemed to be void and convey no rights.

25. Limitation of action

You agree that any cause of action related to or arising out of your relationship with Bankguru must commence within one year after the cause of action accrues. Otherwise, such cause of action is permanently barred.

26. Non-disclosure

Neither party will disclose to any third party details of this agreement or any of the negotiations undertaken in relation to this agreement without the prior written consent of the other.

If you wish to notify us about anything relating to the Terms, please contact us at admin@Bankguru.com.

27. Supplementary Terms relating to Independent Legal Advisory Services (ILAS).

27.1 These terms are to be read in conjunction with the above Terms. This is a contract between Khai Kwan as contracted by Bankguru, and you, (the “Client”), for the ILAS services described below. This Agreement is effective as of the date you accept an offer made by any Banks in response to your loan listing on Bankguru (the “Effective Date”). If you post a loan listing and later accepted an offer vide an expression of interest by any Banks corresponding to your listing (even after amendments or renegotiated), you accept these terms, conditions, limitations, and requirements. Please read this Agreement carefully.

27.2 ILAS provides the following benefits (collectively, the “Benefits”):

Telephone consultations with a Khai Kwan or a nominated legal firm (“Firm”), during normal business hours, of up to one half (1/2) hour each, and up to one hour of time researching the topic of the consultation arising from the loan documents. A podcast of the issues raised from said loan documents will be provided. Either Khai Kwan or another Firm will execute their independent legal advice given on said loan documents.

Nothing in this Agreement shall be construed to limit the right of a Client to retain, at his or her own expense, a different Lawyer. In this event, the Client can elect to terminate with Khai Kwan by a fee payment that is not less than half of the fee chargeable (currently AUD 500) for ILAS which is to paid to Bankguru (known as “Break-up Fee” for breach of the listing services which is only free for Clients engaging Khai Kwan).  

Unless otherwise agreed, the following items and matters are specifically excluded from the ILAS:

(i) Any action that directly or indirectly involves Bankguru or any of its affiliates, directors, agents, or employees;

(ii) Any action that directly or indirectly involves any Firm nominated by Khai Kwan providing legal services under the ILAS;

(iii) Any matter involving the laws of jurisdictions outside of Australia;

27.3  General Practices. You acknowledge that Bankguru reserves the right to change these general practices and limits at any time, in its sole discretion, with or without notice including terminating Khai Kwan as the provider for ILAS for you. However, you have the right to terminate as mentioned above by delisting your loan application list.

27.4 Responsibility for Misuse. You are responsible for all expenses incurred or other actions that may occur through your use of a this ILAS.  

27.5 Authority to Enter Cost and Disclosure Agreement. If you are entering into this Agreement on behalf of a company or other legal entity, you represent that you have the legal authority to bind such entity to these terms, in which case the terms “you” or “your” shall refer to such entity. If you do not have such authority or if you do not agree with this Agreement, you may not sign up for or use any Services here. If we find that you do not have authority to bind the entity for which you allegedly represent, you will be personally responsible for the obligations in this Agreement and the fees involved, including without limitation, the payment obligations including break-up fee. We are not liable for any loss or damage resulting from our reliance on any instruction, notice, document or communication, reasonably believed by us to be genuine and originating from an authorized representative of your company. If there is reasonable doubt about the authenticity of any such instruction, notice, document, or communication, we may, but are not obliged to, require additional authentication from you.

Please refer to the following Cost & Disclosure Agreement:  A PDF copy of this will be email to you and you must fill this up and returned to Bankguru for onward transmission to Khai Kwan,

Schedule 1 Form 1 Standard costs disclosure form for clients – solicitors and other law practices (except barristers)

The standard costs disclosure Form 1 can be used when your professional fee is not likely to be more than $3000 (before adding GST and disbursements).
	Date provided to client:

Law practice details

Name:	KHAI KWAN			Contact:	Khai Kwan
Address:	Level 11, 65 York St, Sydney 2000			Phone:
				Mobile (Optional):	0452052729
State/Territory:	NSW	Postcode:	2000	Email (Optional):	info@khkwan.com

Client details

Name:				Phone:
Address:				Mobile (Optional):
				Email: (Optional):
State/Territory:		Postcode:

What we will do for you

Upon successful accepting a loan offer from any bank or banks corresponding to your listing of a loan application on Bankguru.com platform, we or a nominee shall act as legal representative to provide independent legal advice as to the loan documents to complete your understanding in order for you to execute these documents as required by the banks. If you wish to use a different legal representative, we will transfer this matter to your chosen legal representative after you make a payment to Bankguru for AUD 250 (“Break-Up” Fee). You can do this at any time (before we commence our work) and inform us immediately.   Failure to notify us means Bankguru shall sought this Break-Up fee as consideration for listing on its platform from you directly.  As per our service, we will provide you with a podcast of all the issues that we are aware of affecting your rights and obligations with the bank. You are entitled to 2 (30 mins each) phone consultation on top of this podcast or answers to your inquiry by electronic means. If the written answer which must correspond to your loan documents required more than 1 hour in total to prepare, we will advise you accordingly as there will be an additional fee involved.

How much we estimate this advisory service

		The basis for calculating costs
Estimated total cost of our legal services (excl. GST):	$500	<<IF (CostBasis) Equal (Other) THEN>>     <<ELSE>>Lump sum or fixed rate :  Lump Sum <<END IF>>
Estimated total amount for disbursements (excl. GST):	$ nil	Further Details:   Breakup Fee of $250 where applicable to Bankguru for using another Legal Representative before we commenced our work.
	500
Estimated total cost of barrister or other law practice (include. GST):	$0
Estimated full amount you will need to pay (incl. GST):	$500
This is an estimate only. We will inform you if anything happens that significantly changes this estimate. If our professional fee is likely to be more than $3000 (before GST and disbursements are added) we will provide you with a full disclosure of costs in writing.   Your rights include to: uAsk for an explanation of this form uNegotiate a costs agreement uNegotiate the billing method (e.g. timing or task) uRequest a written progress report of costs incurred uReceive a written bill for work done uRequest an itemised bill uContact your local regulatory authority.