Important information for customers with business finance contracts of $1,000,000 or less
What is changing and what does it mean for you?
We have a strong commitment to supporting businesses and improving the way we do things. With this in mind, we’re strengthening protections under some business finance contracts, to make them more favourable for our small business customers. This has been done in consultation with the Australian Securities and Investments Commission and the Australian Small Business and Family Enterprise Ombudsman.
The changes take effect from 10 November 2017 and apply to finance contracts entered into, renewed or varied since 12 November 2016. This notice describes the changes.
This notice is in 2 parts:
|Part A:||changes affecting all finance contracts including specialised finance contracts|
|Part B:||changes affecting only specialised finance contracts|
|The meaning of terms printed like this is explained in the last tab below|
Is there anything you need to do?
No – you’ll automatically receive the benefit of the changes described in this notice without the need for any update to your terms and conditions (so you won’t receive new terms).
We’re here to help
If you have any concerns or questions about your small business financing arrangements, please contact your Relationship Manager or call (08) 8424 4195, Monday to Friday 8.30am – 5.00pm.