If you are unsure you should ask your solicitor or legal representative to explain the Indemnity and its implications to you. In consideration of QBE Insurance (Australia) Limited ABN 78 003 191 035 (QBE) issuing the Deposit Bond I/We unconditionally and irrevocably indemnify QBE against all actions, claims, demands, liabilities, losses, damages, costs and expenses (including, without limitation, administration and legal expenses) which QBE at any time suffers or incurs directly or indirectly under or in connection with the Deposit Bond; and must within 10 days of the demand by QBE, pay QBE any amount so indemnified.

I/We agree that, if I/We do not pay any amount demanded by QBE under the Indemnity when due, interest will accrue on that amount from the date it was payable until the day I/We pay it. Interest will accrue on a daily basis at either the 90 day Bank Bill Swap Reference Rate (at the time the claim is paid, rounded to two decimal places) plus a margin of 4% or a rate of 12% whichever is the greater, and will compound monthly and is payable on demand.

I/We understand that QBE must pay out under the Deposit Bond whether or not the Vendor is entitled to terminate the Contract for Sale or claim the Deposit or I/We have a dispute with the Vendor and that QBE may make such payment without reference to or further authority from me/us.

The law governing the Indemnity contained in this section is the law of the jurisdiction in which the Deposit Bond is issued.

I/We authorise QBE to obtain from the RTA or any government authority (including the Department of Immigration), bank, real estate agency or other individual company or body, any personal information in relation to the Applicant’s or Guarantor’s necessary to recover any monies due to QBE pursuant to this Deposit Bond.

I/We and each Guarantor hereby charge any real estate wherever situated I/We now or hereafter own with the performance of my/our obligations and liabilities under the Deposit Bond and acknowledge that QBE may at its discretion register a Caveat in respect of such Charge.

Any signatory for a proprietary Company applicant shall be personally liable for the due performance of the Applicant’s obligations as if the signatory was the Applicant.

1. Giving information to a Credit Reporting Agency (Section 1, 8E (8) (c) Privacy Act 1988)

   QBE has informed me that it may give certain personal information about me to a credit-reporting agency.

2. Access to Commercial Credit Information (Section 18L (4) Privacy Act 1988)

   I/We agree that QBE may obtain information about me/us from a business, which provides information about the commercial creditworthiness of persons for the purpose of assessing my/our application for commercial credit.

3. Access to Consumer Credit Information (Section 18K (1) (b) Privacy Act 1988)

   I/We agree that QBE may obtain a consumer credit report containing information about me from a credit reporting agency for the purpose of assessing my/our application for consumer credit.

4. Exchange of Credit Worthiness information (Section 18N, Privacy Act 1988)

   I/We agree that QBE may exchange information with those credit providers named in this application or named in a consumer credit report issued by a credit-reporting agency for the following purposes;

   • to assess an application by me/us for credit
   • to notify other credit providers of a default by me/us
   • to exchange information with other credit providers as to the status of this credit facility when I am in default with other credit providers
   • to assess my/our credit worthiness.

5. Agreement to a credit provider being given a consumer credit report by a credit reporting agency to assess a guarantor (Section 18K 1(c) Privacy Act 1988)

   I/we agree that QBE may obtain from a credit reporting agency a consumer credit report containing information about me/us for the purpose of assessing whether to accept me/us as a guarantor for credit applied for by, or provided to, the applicant(s) [named in agreement]. I/we agree that this agreement commences from the date of this agreement and continues until the credit covered by the application ceases.

   I/We understand that the information exchanged can include anything about my/our credit worthiness, credit standing, credit history or credit capacity that credit providers are allowed to exchange under the Privacy Act.

6. Agreement to a credit provider disclosing a report including a consumer credit report to potential or existing guarantor (Section 18K (1) Privacy Act 1988)

   I/we agree that QBE may give to a person who is currently a guarantor, or whom I/we indicated is considering becoming a guarantor, a credit report containing information about me/us for the purpose of the guarantor deciding whether to act as a guarantor or to keep the guarantor informed about the guarantee. I/we understand that the information disclosed can include anything about my/our credit worthiness, credit standing, credit history or credit capacity that credit providers are allowed to disclose under the Privacy Act, and includes a credit report.