Date published: 23 November 2020
1. $1 Billion Celebration offer
1.1. This $1 Billion Celebration offer (Promotion) is available on and from 10:00 AM on Tuesday 24 November 2020 until 2:00 PM on 23 December 2020 (Promotional Period) to all member of the Plenti Lending Platform (Investors) who meet the Eligibility Criteria.
1.2. The Promotion is not applicable in conjunction with any other promotional offer unless expressly indicated.
1.3. During the Promotional Period, Plenti RE Limited as responsible entity for the Plenti Lending Platform, will, for all unmatched lending orders in the 5 Year Income lending market:
- reduce the interest margin fee payable to zero percent; and, consequently
- increase the interest rate limit to 7.2%.
1.4. No other lending markets, fees, costs or lending orders are impacted by this Promotion.
1.5. At the commencement of the Promotional Period, all existing lending orders in the 5 Year Income lending market will be adjusted by the Responsible Entity to reflect the increase in the interest rate limit, but will remain the same amount below the current interest rate limit (for example, if you have a lending order on market at 0.1% below the interest rate limit, 6.4%, it will be adjusted to 7.1%).
1.6 At the conclusion of the Promotion Period, all existing lending orders in the 5 Year Income lending market will be cancelled and any funds on market returned to the relevant Investor’s holding account.
2. Other terms
2.1. Plenti reserves the right to amend or alter or cancel this offer and exclude claims from Investors not entering into the spirit of the promotion.
2.2. Plenti reserves the right of ownership of any member-generated content submitted to the promotion and unreserved rights of reproduction in any marketing or promotional media that it sees fit.
2.3. Members may incur a tax liability in relation to income earned via the Plenti Lending Platform. Any tax liabilities arising under this Promotion are those of the relevant Investor.
2.4. Any amount payable under this offer is inclusive of GST (if applicable). You will tell us if you have a liability for GST in respect of any amount payable under this offer. If you have a liability for GST, you will provide us with a tax invoice for the supply within 28 days of the payment.
2.5. The Promotion may be modified or withdrawn at any time.
2.6. Where this Promotion is withdrawn in accordance with clause 2.5, such cancellation will not be retrospective in nature.
2.7. In this offer, unless defined in this document or the context otherwise requires, terms have the same meaning as set out in the Product Disclosure Statement of the Plenti Lending Platform. 2.8. This offer will be governed by and construed according to the laws in force in the state of New South Wales. Each party unconditionally and irrevocably submits to the exclusive jurisdiction of Courts with jurisdiction in New South Wales and all appellate Courts from such Courts.