1.1 These Terms and Conditions set
out the terms of the contract between the TDB and a Customer that is made when
the Customer purchases an Ave Pa’anga Pau Voucher (an “APP Voucher”) on the TDB
website.
1.2
In particular these Terms and Conditions -
1.3 In doing those things, these
Terms and Conditions use some words which have defined meanings. Definitions of
terms are provided in clause 6 below, under the heading “Definitions.”.
1.4 By registering as an APP Voucher
Customer on TDB’s website www.avepaanga.co.nz, the Customer agrees that the
Voucher Terms and Conditions which are in force at the time the Customer
purchases a APP Voucher from TDB, will form part of the contract between TDB
and the Customer in respect of that APP Voucher.
2.1
Ave Pa’anga Pau Vouchers may
be obtained from TDB on this website are a means by which a Customer can, by
paying an NZ Dollar Amount to TDB, arrange for TDB to pay the corresponding
Pa’anga Amount to a person in Tonga.
2.2 Ave Pa’anga Pau Vouchers are only
able to be purchased with New Zealand Dollars, and cannot be purchased using
any other currency.
2.3 1.1
Ave Pa’anga Pau Vouchers are also only able to be
purchased where–
2.4 Ave Pa’anga Pau Vouchers are only able to be
purchased by a Customer once TDB has verified the identity of the Customer and
the Beneficiary to its satisfaction and in a manner that complies with TDB’s
obligations under AML Laws.
2.5 Even if TDB has previously verified the identity of a Customer in that way, TDB
may at any later time request further information about the Customer, such as
for the purposes of AML Laws. If TDB makes such a request, the Customer must comply
with it without delay.
2.6 In addition, TDB is not obliged to –
a)
sell APP Vouchers to any person
or in any circumstances, if in either case doing so would be contrary to any
laws that apply to TDB; or
b)
accept any person as a Customer
or as a Beneficiary;
those matters being in
each case in TDB’s absolute discretion, and TDB is not obliged to give reasons
for its decisions about such matters.
3.1 A Customer wishing to purchase an APP Voucher must
first register on TDB’s website as a Customer and must provide TDB with the mandatory
information TDB needs to comply with the AML Laws. To do this, Customers should
complete the information required on the ”Sign Up” pages of this website.
3.2 When TDB has received a Customer’s registration and
considered it, if it meets TDB’s requirements TDB will then let the Customer
know by email that they have been registered as a Customer, and can now
purchase APP Vouchers from time to time.
3.3 On each occasion a Customer wishes to purchase a
Voucher, they must sign in on the log in page of this website and enter the required information on
that page. That will include –
a)
For a new Beneficiary, specifying –
i.
the name of the Beneficiary of the APP Voucher, including
where required the address, any email address or mobile phone number for the
Beneficiary;
ii.
and details of the Beneficiary’s bank account in Tonga, if they have one;
b)
Where the Customer has
previously sent an APP Voucher to the same Beneficiary, selecting that Beneficiary’s
name from the Customer’s Beneficiary name list on the site; and
c)
Specifying either –
i.
the NZ Dollar Amount in respect
of which the Customer wants TDB to pay the corresponding Pa’anga Amount to the
Beneficiary; or
ii.
the Pa’anga Amount which the
Customer wants the Beneficiary to receive from TDB.
3.4 On entering the required information on that page of
the TDB website, the TDB website will then inform the Customer of either- a)
The Pa’anga Amount that
corresponds to the NZ Dollar Amount specified by the Customer; or
b) The NZ Dollar Amount that corresponds to the Pa’anga Amount
specified by the Customer;
as
appropriate in either case.
3.5 Unless TDB agrees otherwise in particular cases, any
NZ Dollar Amount of the kinds referred to in clause 3.4 above must be within
New Zealand Dollar limits determined by TDB from time to time and which may
apply to the amount of each APP Voucher and / or to the maximum aggregate
amount of APP Vouchers that may be purchased by a Customer in any 12 month
period.
3.6 If the amount advised by TDB under clause 3.4 above
is satisfactory to the Customer, the Customer must confirm that by –
a) Clicking on “Accept” in the voucher details that will then be shown
on the new transfer confirmation page of the website; and
b) Then immediately paying the applicable NZ Dollar Amount advised by
the Customer or TDB under clause 3.4, as appropriate, in immediately available cleared
New Zealand Dollar funds by on line banking to TDB’s NZ Dollar account, number 38-9018-0246931-00.
Doing so gives rise to a contract between the Customer and TDB on
these Terms and Conditions, by which in return for the Customer’s payment of
the NZ Dollar Amount, TDB will pay the Pa’anga Amount to the Beneficiary as set
out below.
3.7 By paying the NZ
Dollar Amount in that way, the Customer is taken also to acknowledge that –
a) The New Zealand Dollars thus paid immediately become the property of
TDB;
b) While any Pa’anga Amount or NZ Dollar Amount advised by TDB to the
Customer under clause 3.4 above is based on market exchange rates at the time as
explained in clause 6.2 below, that amount is in either case fixed by TDB in
its discretion; and
c) The amounts thus advised by TDB are in each case also calculated net
of TDB’s Commission, which is a fee charged by TDB as payment for its services.
3.8 When the Customer has paid the NZ Dollar
Amount to TDB as above, TDB will then pay the Pa’anga Amount to the Beneficiary, either –
a) Where the Customer has provided TDB with details of the
Beneficiary’s bank account in Tonga, by
paying the Pa’anga Amount to that bank account, which TDB will endeavour to do within one Business Day of
receiving the NZ Dollar Amount from the Customer; or
b)
In any other case, by informing
the Beneficiary (by email where possible) that the Pa’anga Amount will be paid
to them in Pa’anga cash if they go to the closest TDB Branch prior to the
Voucher Expiry Date and provide proof of their identity to the
satisfaction of TDB.
3.9 When TDB has paid the Pa’anga Amount to the Beneficiary
in either of those ways, TDB may then (but not prior to that time) pay the NZ Dollar Amount
to itself from the TDB
NZ Dollar bank account mentioned above.
3.10 If for any reason TDB is not able
to redeem the APP Voucher prior to the Voucher Expiry Date by paying the Pa’anga
Amount to the Beneficiary in either of the above ways, then TDB –
a)
May then pay to itself a New Zealand Dollar amount
representing TDB’s Commission;
b)
Must without delay also refund the Net NZ Dollar
Amount to the New Zealand bank account of the Customer from which that amount
was paid to TDB; and
c)
Is not responsible to the Customer in any other way.
4.1 TDB’s Privacy Policy can be accessed on this website
http://avepaanga.co.nz/privacy-policy, and Customers are encouraged to read it.
By registering as a Voucher Customer, the Customer agrees that the terms of
TDB’s Privacy Policy will apply to Voucher Customers as if they were set out in
full in these Terms and Conditions (apart from any parts of the Privacy Policy
that are expressed to relate only to other TDB products).
4.2 TDB will keep confidential all information it holds
about the Customer and will deal with it only in accordance with the Privacy
Laws and TDB’s Privacy Policy, except where TDB is required or permitted to
disclose that information by the AML Laws, by other laws or by these Terms and
Conditions.
4.3 The Customer agrees that TDB may
use the information that it holds about the Customer –
a)
For the purposes for which is
it was provided by the Customer, namely to facilitate and in future improve TDB’s
Ave Pa’anga Pau Voucher service to the Customer, and for that purpose TDB may
disclose it to third parties where TDB considers that necessary or desirable;
and
b)
To inform the Customer about
other TDB products and services which TDB believes in good faith may be of
interest to the Customer.
4.4 In order for TDB to provide
services to the Customer, TDB may consider it necessary for data which includes
information about the Customer that is in electronic form to be held on the TDB’s
behalf by providers of data storage services. The Customer agrees that TDB may allow this data to be held
by third parties in this way, but that they must keep the Customer’s
information confidential.
4.5 Under New Zealand Privacy Laws, the
Customer may also have the right to access and to correct any information that
TDB holds about them.
5.1
TDB may change these Terms and Conditions from time
to time, by uploading a new set of the Terms and Conditions to its website. The
changed Terms and Conditions will automatically apply to any Voucher purchased
after new Terms and Conditions are uploaded in that way.
5.2
Each Voucher Contract is a contract between TDB and
the Customer, and TDB’s obligations to do so are enforceable only by the
Customer, but are not also enforceable by any Beneficiary.
5.3 TDB’s liability under each
Voucher Contract is limited to –
a) Paying the Pa’anga Amount of a Voucher to the Beneficiary of that
Voucher, in the manner required by these Terms and Conditions; or
b) Where the Voucher has expired, repaying the NZ Dollar amount to the
Customer, in the manner required by these Terms and Conditions,
and TDB is not liable to the Customer or to any other person in any
other way.
5.4
If the Customer does not comply with any of their
obligations under a Voucher Contract, these Terms and Conditions or any
relevant law and TDB suffers loss as a result, the Customer must indemnify TDB against
any such loss.
5.5
TDB is registered in New Zealand on the Financial
Service Providers Register and as an “overseas company” under the Companies Act
1993 of New Zealand. However while TDB is a bank licensed in Tonga under the
Financial Institutions Act 2004 of the Kingdom of Tonga, TDB is not a
registered bank in New Zealand and is not subject to supervision by the Reserve
Bank of New Zealand under the Reserve Bank of New Zealand Act 1989.
5.6
If the Customer has any complaint or asserts any
other claim against TDB -
a) The Customer may Initially complain to TDB:
i.
By calling TDB’s 24 hour
helpline on +676 24465; or
ii.
By email to TDB’s New Zealand
representative in New Zealand at nzrep@tdb.to.
iii.
By email to TDB at complaints@tdb.to, or in writing to
TDB’s address as given at that time on the “Contact Us” page of this website http://avepaanga.co.nz/contact-us;
or
b)
If that does not result in the
complaint being resolved, the Customer may then complain to the dispute
resolution service to which TDB belongs pursuant to the Financial Service Providers
(Registration and Dispute Resolution) Act 2008 of New
Zealand, namely the Financial Dispute Resolution Service operated by Fairway
Resolution Limited, whose website is at www.fairwayresolution.com.)
5.7 Each Voucher Contract is governed
by Tongan law. If any issues between TDB and a Customer are not resolved in the
ways envisaged by clause 5.6, the courts of Tonga will accordingly have
jurisdiction in respect of each Voucher Contract.
6.1 1.1 In these Terms and Conditions the
defined terms shown bold below have the meanings stated after them:
AML Laws refers to the Anti-Money Laundering and
Countering Financing of Terrorism Act 2009 of New Zealand, the Money Laundering and Proceeds of Crime Act
2000 of the Kingdom
of Tonga, and in each case also includes legislation of the kind referred to in
clause 6.2;
Ave Pa’anga Pau Voucher and APP Voucher each
refer to a promise by TDB to pay a Pa’anga Amount to a Beneficiary in return
for New Zealand dollars paid to TDB by a Customer;
Beneficiary means the person specified by a Customer as being the person in
Tonga to whom the Customer wants the relevant amount of Pa’anga to be paid;
Business Day means a day other than a Saturday, a Sunday or any day that is a
public holiday in the Kingdom of Tonga, and which is also a day on which banks
in Tonga are open for normal banking business;
Customer means an
individual person who purchases an
Ave Pa’anga Pau Voucher from TDB;
Net NZ Dollar Amount means an amount in New Zealand Dollars which is equivalent to the New
Zealand Dollar Amount paid by a Customer, less TDB’s commission;
New Zealand Dollar means
the currency of New Zealand;
NZ Dollar Amount refers to the New Zealand Dollars paid by a Customer under clause 3.6;
Pa’anga means the currency
of the Kingdom of Tonga;
Pa’anga Amount means the amount in Pa’anga which TDB advises to the Customer under
clause 3.4, and which the Customer accepts under clause 3.6;
Privacy Laws refers to the Privacy Act
1993 of New Zealand and to any
corresponding laws of the Kingdom of Tonga, and in each case also includes legislation of the kind referred to
in clause 6.2;
TDB means Tonga Development Bank, a statutory
corporation governed by the Tonga Development Bank Act 2014 of the Kingdom of Tonga;
TDB’s Commission is an amount equivalent to 6% of the New Zealand Dollar Amount paid
by a Customer. This assumes the use of exchange rates as explained in clause
6.2 below. Use of differently sourced exchange rates could produce deviations
above or below 6%;
Terms and Conditions refers to the Terms and Conditions in this document, as they may be
changed (under clause 5.1) and be in force from time to time;
Voucher Contract refers to each contract for an APP Voucher between TDB and a
Customer that is formed pursuant to
these Terms and Conditions;
Voucher Expiry Date means the day 30 days after the Customer pays
the NZ Dollar Amount to TDB.
6.2 In advising a Pa’anga Amount or an NZ Dollar Amount
pursuant to clause 3.4 of these Terms and Conditions, and thus also in determining TDB’s Commission, TDB uses market exchange rates.
As at the date of these
Terms and Conditions TDB applies a New Zealand Dollar / Pa’anga cross rate which is derived from –
a)
a New Zealand Dollar
/ United States Dollar exchange rate sourced in real time from www.xignite.com/product/forex; and
b) the
Pa’anga / United States Dollar
exchange rate published daily by the National Reserve Bank of Tonga.
6.3 Reference in these Terms and Conditions to any
legislation, whether of New Zealand or of the Kingdom of Tonga, includes-
a)
Any legislation of either
country which amends or replaces that legislation; and
b)
All regulations, Codes of
Practice or other similar Governmental actions that are at the relevant time in
force in the relevant country under any such legislation.
6.4 Reference to a numbered “clause” is to that clause of these
Terms and Conditions.
6.5 In these Terms and Conditions any singular word also
includes the plural of that word, and vice versa.