Rate Detective Pty Ltd Trading as SPOTTER LOANS
This website is created and controlled by Rate Detective Pty Ltd ACN 127196712 and any holding companies, subsidiaries or related entities, all of which are referred to as we, us or our.
1.1. Please read the Terms carefully. We reserve the right to amend the Terms from time to time without notice and at our discretion. It is your responsibility periodically to review this page for updates to the Terms, which shall come into effect once posted. Your continued use of the Website will be deemed acceptance of the Terms.
1.2. We are a company incorporated in Australia, and the Terms are governed by and subject to the laws of Victoria, Australia.
1.3. If you do not agree to the Terms, you must not use or access the Website.
2.1. The publication on our Website of any person’s contact details does not constitute implied or express consent by us or the person to receive unsolicited commercial electronic messages or SPAM.
3.1. You may not decompile, reverse engineer, disassemble, rent, lease, loan, sell, sublicense, or create derivative works from the Website or the user content. Nor may you use any network monitoring or discovery software to determine the Website architecture, or extract information about usage, individual identities or users.
3.2. You may not copy, modify, reproduce, republish, distribute, display, or transmit for commercial, non-profit or public purposes all or any portion of the Website or the user content without our prior written permission.
4.1. You should not act, or refrain from acting solely on the basis of the material containedon this Website.
4.2. Material on this Website does not constitute a solicitation or inducement to purchase any products or engage any services offered by us.
5.1. We do not warrant that you will have continuous access to the Website or that your access or use will be error-free.
5.2. We will not be liable in the event that the Website is unavailable to you for any reason(for example, due to computer downtime attributable to malfunctions, upgrades, server problems, preventative or remedial maintenance activities or interruption in telecommunication supplies).
5.3. We reserve the right at any time to deny or terminate all or part of your access to the Website where in our opinion, there are concerns regarding unreasonable use, security or unauthorised access or where you have breached any of these Terms.
5.4. If we issue you with a username and password enabling you to access special features on our website you must keep these details confidential.
6.1. Rate Detective Pty Ltd is the owner and/or authorised user of all trade marks, service marks, design marks, patents, copyrights, database rights and all other intellectual property appearing on or contained within the Website, unless otherwise indicated. All information, text, material, graphics, software and advertisements on the Website are our copyright and that of our suppliers and licensors unless expressly indicated otherwise by us.
6.2. Except as provided in the Terms, use of the Website does not grant you any right, title, interest or license to any such intellectual property you may access on the Website. We own the rights, or have permission to use, the trademarks listed on our Website.
6.3. We may authorise you to use content on our Website if you contact us and we agree in writing.
7.1. You are welcome to link to our Website as long as you observe the following conditions:
(a) you present the links in a way which fairly represents us. The link(s) must not cause us embarrassment; (b) the context of the link must not suggest that we endorse you in any way, or have any connection with your site; and (c) the context of the link must not suggest that we have created any of your content.
8.1. The Website may contain links to other websites (Linked websites). Those links are for convenience only and we are not responsible for the content or practices associated with Linked websites.
8.2. Our link with a Linked website is not an endorsement, approval or recommendation of those Linked web sites.
9.1. We cannot guarantee the safety or security of your computer system or other electronic device. We do not accept liability for any loss or corruption of electronically stored data or any damage to any computer system or other electronic device sustained in connection with the use of the Website or user content.
9.2. We make no representations or warranty of any kind, express or implied as to the operation of the Website or the user content. You expressly agree that your use of the Website is entirely at your sole risk.
9.3. To the extent permitted by legislation such as the Competition and Consumer Act 2010 (Cth), the Website is provided on an “as is, as available” basis.
9.4. The Competition and Consumer Act 2010 (Cth) and similar State and Territory legislation in Australia may confer rights and remedies on you in relation to the provision by us of the Website (including the various functions contained on the Website) which cannot be excluded, restricted or modified (Non-excludable Rights). Except for any Non-excludable Rights you agree to exclude all other conditions and warranties implied by custom, law or statute.
9.5. We expressly disclaim all responsibility for any loss, injury, claim, liability, or damage, or any indirect, incidental, special or consequential damages or loss of profits whatsoever of any kind resulting from, arising out of or any way related to: (a) any errors in or omissions of the Website and/or the user content, including but not limited to technical inaccuracies and typographical errors,( b) any third party web sites or content directly or indirectly accessed through links in the Website, including but not limited to any errors in or omissions, (c) the unavailability of the Website or any portion, (d) your use of the Website, or (e) your use of any electronic device or software in connection with the Website.
9.6. Our maximum aggregate liability for all proven losses, damages and claims arising out of the Terms, including liability for breach, in negligence or in tort or for any other common law or statutory action, is limited to an aggregate of all claims of $4,000,000.00.
10.1.You agree to indemnify, defend and hold us harmless, our officers, directors, employees, agents, licensors, suppliers and any third party information providers to the website from and against all losses, expenses, damages and costs, including reasonable lawyer fees, resulting from any violation of the Terms by you.
10.2.You also agree to indemnify us against any claims that information or material which you have submitted to us is in violation of any law or in breach of any third party rights (including, but not limited to, claims in respect of defamation, invasion of privacy, breach of confidence, infringement of copyright or infringement of any other intellectual property right).
11.1.The provisions of paragraphs 10 (Disclaimer and Limitation of Liability), and 11(Indemnification) are for our benefit and the benefit of our officers, directors, employees,agents, licensors, suppliers, and any third party information providers to the Website.Each of these individuals or entities shall have the right to assert and enforce those provisions directly against you on their own behalf.
12.1.We reserve the right to investigate complaints or reported violations of the Terms and to take any action we deem appropriate including but not limited to reporting any suspected unlawful activity to law enforcement officials, regulators, or other third parties and disclosing any information necessary or appropriate to such persons or entities relating to user profiles, e-mail addresses, usage history, posted materials, IP addresses and traffic information.
14.1.If any provision of the Terms is unlawful, void or unenforceable, then that provision shall be deemed severable from the remaining provisions and shall not affect their validity and enforceability.
15.1.These Terms are effective until terminated by us.
15.2.In the event of termination, you are no longer authorised to access the Website, but all restrictions imposed on you and the disclaimers and limitations of liability set out in the Terms will survive termination. 15.3 Such termination shall not affect any legal right that we may have accrued against you up to the date of termination. 15.4.We may also remove the Website as a whole or any sections or features of the Website at any time.
Here’s what a loan might look like
Here’s what a small loan might look like…
You’re after a loan for $1,000 for medical or dental bills. Your are looking to repay the loan back after 6 months and are happy to make fortnightly payments.
In the above example You’ll pay:
- Loan Amount Financed: $1,000
- Establishment Fee: $200 (set by NCCP at 20% of the loan amount)
- Monthly Permitted Fee: $40 per month charged on the anniversary of the loan
- Amount of Credit of the Loan: $1,240
- Total Amount of Interest Payable: NIL
- Direct Debit Fees: $25.74 ($0.99 per transaction)
- Total amount of repayments: $1,440.00
- Nominal Percentage Rate (Interest) per annum: 0% as defined by NCCP
Comparison Rate: 160.0571% as defined by NCCP
Here’s what a medium loan might look like…
You’re after a loan for car repairs for $2,500 and are looking to make payments back on a weekly basis over 2 years.
In the above example You’ll pay:
- Loan Amount Financed: $2,500
- Establishment fee: $400 (Set by NCCP)
- Amount of Credit of the Loan: $2,900
- Total Amount of Interest Payable: $1,590.86
- Repayments: 103 x $43.19 + $42.31 (a final payment)
- Total amount of repayments: $4,490.88
- Nominal Percentage Rate (Interest) per annum: 48% as defined by NCCP
Comparison Rate: 65.5138% as defined by NCCP
For loans under $2000 the minimum repayment term 90 days, maximum repayment term 12 months.