AGREEMENT
1. The Supplier (we, us, our) and the Member (you, your) agree the Young and Nestless service (the Service) will be supplied for the benefit of Members according to the Terms and Conditions herein described (the Agreement.)
2. The term “Member” defines a joint Membership for two people who are permanent residents of New Zealand and who intend to jointly purchase their first home. Although a single person may also become a Member we may terminate the Membership in accordance with clause 15 if we determine in our absolute discretion that you are unlikely to achieve your Deposit Savings Target within a reasonable period.
SERVICE DESCRIPTION
3. We will supply a methodology and support system for the purpose of assisting you to buy your first home in New Zealand. Your participation is voluntary and at no cost except that you agree to undertake the commitments which are described below in order to receive the benefits of the Service.
4. We will negotiate in good faith with various suppliers on behalf of Members to seek advantageous terms for finance and purchase of a new-build home but you are under no obligation to accept any terms which we have negotiated.
UNDERTAKINGS
5. You each agree to change your KiwiSaver provider and associated KiwiSaver fund according to our recommendations.
6. You agree to purchase and keep current an insurance policy sourced from our chosen provider in accordance with our recommendations, having regard to your circumstances.
7. In the event that you have complied with the undertakings expressed in clauses 5 and 6 above then we undertake to make a voluntary grant towards your deposit of $500 per KiwiSaver account provided that you also meet the following conditions:
(a) you have switched to our recommended KiwiSaver provider and KiwiSaver fund and you have maintained your contribution rate at 8% of your before-tax pay; and
(b) your Young and Nestless dashboard shows that you have maintained positive savings progress; and
(c) your insurance policy is current (see clause 6); and
(d) 24 months have expired since the commencement of the service (see clause 13).
8. The grant will be paid as a lump sum contribution into each KiwiSaver account.
COMMISSION & FEES
9. We receive no commissions, fees or other incentives in return for our recommendation of a KiwiSaver provider or KiwiSaver fund.
10. When you purchase an insurance policy from our recommended provider we may be entitled to receive industry standard commission payments from which we will fund the delivery of benefits to you.
COMMENCEMENT & TERMINATION
11. The Service will commence on the date of issue of the insurance policy described in clause 6 and continue until you take possession of your new home or unless terminated by either party.
12. You acknowledge that without the purchase of an insurance policy in accordance with clause 6 above then you cannot be a Member of Young and Nestless.
13. We may cancel the Agreement if we determine in our absolute discretion that you have not complied with the undertakings given in clauses 5, 6 and 8 of this agreement or if we believe you will be unable to reach your Deposit Savings Target within five years or less.
14. You may cancel your Membership at any time and for any reason by sending an email to us and any benefits will cease immediately.
DISCLAIMERS
15. We do not guarantee that you will achieve your Deposit Savings Target. People have different circumstances, motivations and expectations and we cannot compel you to apply the discipline and commitment you will need in order to reach your target.
16. We do not guarantee that you will succeed in buying your first home because we cannot be responsible for your decision to choose any of the houses that may be available within the House Price Cap for your region. Although we will exercise our best efforts to provide a range of new-build homes to choose from we understand that people have different needs and expectations and are free to make their own choice.
17. Any information we supply to Members is provided for general information purposes only. We do not warrant the accuracy, completeness or usefulness of this information. You agree that you rely on such information entirely at your own risk. Additionally, we disclaim any responsibility or liability to you for the content or accuracy of any information provided by any third parties.
18. In no event shall we or any of our providers, suppliers, subsidiaries or affiliates, be liable to you or any third party for any indirect, special, incidental or consequential damages including but not limited to loss of use, loss of data, loss of business or profits. To the extent permitted by applicable laws we do not accept any liability for: errors, mistakes or inaccuracies in materials produced for the service; you acting, or failing to act, on any information received in connection with the service; any unauthorised access to or use of our service; any interruption or cessation of transmission to or from any servers or websites associated with the service provided by us or any third party; or for any other reason.
APPLICATION
19. We reserve the right to refuse Membership to any person or persons without explanation.
20. We may revise and update these Terms of Service from time to time in our sole discretion. You should check this page from time to time because all changes will become effective immediately they are posted.
21. You agree that by clicking the ‘Register’ link you have accepted these Terms and Conditions and aver that they describe our complete agreement excluding any other representations whether written or otherwise.
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