STANDARD TERMS AND CONDITIONS OF CONSUMER CREDIT CONTRACT
MYM Cosmetics Limited trading as ‘MYM’
IMPORTANT: Where you have chosen to purchase products from us and pay for them over a period of time, then we are providing credit to you and you are entering into a credit contract with us. We are required to provide you with a disclosure statement under section 17 of the Credit Contracts and Consumer Finance Act 2003 setting out the key information about your credit contract. Your Disclosure Statement will be sent to you with a copy of these Terms and Conditions. An example of our standard Disclosure Statement is available on our website under Information. You should keep these terms and a copy of your disclosure statement in a safe place. Together, they make up the terms of your Credit Contract.
Please read the Terms & Conditions and the Disclosure Statement thoroughly. If you do not understand anything, you should seek independent advice before confirming your order on www.mym.co.nz. Subject to your rights of cancellation set out below and in your Disclosure Statement, once you have confirmed your order we will assume that you have read and accepted these Terms and Conditions and your Disclosure Statement so it really is important you read them first.
MYM Cosmetics Limited provides an online application process to assist in the easy setup and management of your purchases. Any reference to “Application” in these Terms and Conditions and in the Disclosure Statement relates to the online application process in the Checkout section on the website www.mym.co.nz
HOW TO READ THIS DOCUMENT
Some words and meaning that are used in these Terms and Conditions have particular meanings. They are generally the words that start with a capital letter. Their meanings are explained in the glossary near the end of this document. Sometimes the meanings can be a bit different from the everyday meaning so you should check the glossary to make sure you understand what we mean.
YOUR REPRESENTATIONS AND WARRANTIES
By completing the Application, you represent and warrant that the information provided and relied upon by us is true and correct, that you are not currently bankrupt, and that you are aged 18 or older.
You also represent that you have disclosed all information, whether or not we have specifically asked you for that information, where you are aware or should be aware, the information may influence whether or not we advance you any credit.
YOUR OBLIGATIONS AND ACKNOWLEDGEMENTS
You agree to make pay us each Instalment as and when it is due.
You agree to notify us in writing within 14 days of any change of name and/or change of address (including email address) that may be relevant to your Credit Contract.
You agree and acknowledge that you were advised to seek independent legal advice about anything in your Credit Contract that you didn’t fully understand before you confirmed your order.
INTEREST AND FEES
We do not charge interest at any stage during the term of the loan.
Any fees that may be charged are set out in the Disclosure Statement and are also listed under our Fees and Cost of Borrowing heading in the Information section of our website. They cover things like a charge for a missed payment, the cost of delivery and cancellation fees.
HOW TO PAY US
You are required to make each payment in the amount specified and on the dates set out in the PAYMENTS section of your Disclosure Statement. This information is also set out in your Application and again in your ‘Welcome to MYM’ confirmation email that is sent to you when you confirm your order.
Payments will be made by direct debit from the credit card or bank account that you have nominated on the Application. Any payment we receive will be receipted firstly to clear any dishonour fee, then any overdue amount and finally the Instalment amount due.
You can repay us the full amount of what you owe us at any time before the final payment is due. We do not charge any repayment fee.
We reserve the right to decline to accept part prepayments and will notify you of any decline and refund the money as soon as possible.
WHAT WILL HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS
We will consider you to be in default when you do not make an Instalment on the day that it is due or if an Instalment is dishonoured.
In the event of default, we may (at our discretion and as applicable):
- charge a dishonour fee to your account which is immediately due and payable by you;
- cancel your account and ask you to pay us everything that is owed on your account including any amounts owing under any other credit contracts you have entered with us (if we ask you to do this, those amounts will all become immediately repayable);
- suspend your account so you cannot use it until we agree you can use it again.
If you do not make an Instalment and we need to get other people involved to help us collect the money you owe us, then you will have to pay their costs as well. These costs are likely to include the legal fees and the cost of using a collection agency. Collection agencies often charge a fee which is a set percentage of the amount of money that they recover although costs vary depending on things like how long it takes for us to get repaid. Any of these fees from third parties would be added to what you owe us.
We may also provide details of your default to a credit reporting agency, which may affect your credit rating. This can have an impact on whether you are able to get credit in the future.
If we are considering using a third party to collect any outstanding payment or listing a default with a credit reporting agency then we would always try and notify you that we were going to do this.
If you have a credit contract with us for longer than six months then we provide you with regular statements every 6 months. These statements will be sent to the email address you have provided on your application.
RIGHT TO CANCEL
You are entitled to cancel your Credit Contract with us for a short time after you have received these Terms and Conditions and your Disclosure Statement.
Details on how to cancel, the time limits that apply and what you will have to pay, are set out in full in your Disclosure Statement. Where you cancel after your statutory right to cancel you may be charged a fee to cover the costs of your credit check, restocking and unboxing your purchase, and time taken to set up and close your account including the direct debit.
WHAT TO DO IF YOU ARE HAVING TROUBLE PAYING
Please contact us as soon as you can if you find yourself having any financial problems and you don’t think you will be able to pay your Instalment. For example, you may be off work because of injury or illness, or you may have lost your job or broken up with your partner. It is important that you don’t ignore the problem and that you get in touch as depending on what has happened you may be able to make an application for hardship. Basically, this means asking us to consider changing the terms of your Credit Contract to make things easier for you, for example giving you longer to pay.
There are some rules around how and when you can make a hardship application but we are happy to help you through it. Basically, to apply for a hardship variation, you need to:
- a. make an application in writing; and
- b. explain your reason(s) for the application; and
- c. request one of the following:
- an extension of the term of the contract (which will reduce the amount of each payment due under the contract); or
- a postponement of the dates on which payments are due under the contract (specify the period for which you want this to apply); or
- both of the above; and
- d. give the application to us.
MYM will respond within 5 working days from the date we receive your hardship application.
We always try to look after our customers. If you have a complaint, please contact us to discuss it in the first instance. We find that most problems can be sorted this way. You can contact us by emailing us email@example.com or calling us on (09) 320 5769. We have internal processes to ensure your complaint is addressed promptly.
If we are unable to resolve your complaint, you can contact our external dispute resolution scheme: Financial Services Complaints Limited (FSCL).
This is an independent organisation approved by the Ministry of Consumer Affairs and their services are free. Their contact details are:
- Phone: 0800 347 257
- Website: www.fscl.org.nz
- Address: Level 4, 101 Lambton Quay, Wellington 6011
- Postal Address: PO Box 5967, Wellington 6145
Our account with the FSCL is under the member number 6355.
You understand and agree that we can ask for personal information about your personal finances from credit reporting agencies, your past or current employers or any other person (like your bank or another retailer you have had credit with in the past), check your personal information against records held by government agencies (like your Driver Licence if we have asked for that) and record any calls between us for training, security or evidence.
You agree we can use your personal information to decide if we should give you credit, approve any purchases you want to make, make any offers to you, meet our legal obligations, and conduct market research. However, we won’t sell or give away your personal information for marketing purposes outside our business.
You agree that we can give your information to any other members of the MYM group, our agents and people who provide us with services, reputable market research organisations (you can opt out of any market research if you don’t want to take part), credit reporting agencies, debt collecting agencies and law firms, and anyone we transfer our right and obligations to under this Credit Contract. You agree and understand that the information we give to any credit reporting agency may include repayment history and details of any overdue or dishonoured payments and your identification details. Sharing this information is known as positive credit reporting and doesn’t just cover payments you have not made. You can find out more on the Office of the Privacy Commission website (www.privacy.org.nz). The credit reporting agency may hold and report this information about you and use it to provide their credit reporting service.
We will keep your information secure and we will comply with our obligations under the Privacy Act 1993. It may be stored physically or electronically by us or by someone else acting for us (they will be required to hold it on a confidential basis). We will take reasonable steps to ensure your information is accurate but you can contact us by phone, email or post to confirm how you can inspect the information we hold about you, and if you believe any of the information is incorrect, you may request us to correct it.
We won’t give your information to anyone else except in the circumstances that we have described above.
We may change any of these terms at any time. This could include changes to the amount of any fee or charge or the timing of any payments. We will give you notice within five days of making any change, in accordance with the law.
You agree that we may give you notice electronically (such as by email, including an email that has a link to our website www.mym.co.nz). We may also communicate with you via text messages where you have provided us with your mobile details.
New Zealand law applies to your Credit Contract.
If any term is found to be void, invalid, unlawful or in any way unenforceable then it shall be severed your Credit Contract but all remaining terms shall continue in full effect.
We may assign, transfer or give a security interest over our rights in this agreement without restriction. That person can then use our rights and/or carry out our obligations under your Credit Contract.
You are not permitted to assign, transfer or novate your rights or obligations unless we have agreed in writing.
Our rights are not affected or waived just because we don’t exercise them immediately or as soon as we can, and just because we exercise one of our rights once or in part, it doesn’t mean we can’t exercise them again.
In the event that you do not meet the credit criteria for MYM, we may offer you a pre-payment before delivery option. . MYM reserves the right to cancel any Credit Contract at any time prior to delivery and agrees to refund all monies paid by the customer within 24 hours of such cancellation.
Application means the Application for Fixed Instalment Credit Contract as detailed in the “Checkout” section of our website.
Credit Contract means the Terms and Conditions and the Disclosure Statement read together.
Instalment means the fixed amount you are required to pay each week as set out in your Disclosure Statement.
MYM Group means any company or business that is associated with MYM Cosmetics Limited.
you and your means the person who has completed the Application and is named on that document.
we, our and us means MYM Cosmetics Limited (trading as MYM) unless we transfer any of our rights in which case those terms will mean the person to whom we have transferred those rights.
Website means www.mym.co.nz – our website.