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Ladbrokes.com.au: Credit Betting Terms and Conditions

Clients may be offered a credit betting facility (a "Credit Betting Facility") by Ladbrokes.com.au in its sole discretion. The use of a Credit Betting Facility by a Client shall be based on the terms and conditions below (the "Credit Betting Terms and Conditions"), and the Ladbrokes.com.au Rules, Terms and Conditions, General Betting Rules, Sports and Racing Rules of Play, Promotion and Competition Rules, collectively ("Ladbrokes.com.au Terms and Conditions").

1. These Credit Betting Terms form part of and are to be read in conjunction with the Ladbrokes.com.au Terms and Conditions.
2. Compliance with these Credit Betting Terms and the Ladbrokes.com.au Terms and Conditions by a Client is an ongoing requirement in order to maintain a Credit Betting Facility.
3. By accepting the credit terms below, I confirm that I am not in default on any credit account, nor have I filed for bankruptcy or have a debt payment arrangement with any company. I hereby acknowledge that I have the financial capacity to settle my credit account on a weekly basis.

Obtaining Credit Information

4. You consent to Ladbrokes.com.au obtaining a credit report or any information about your creditworthiness, credit standing, credit history or credit capacity from a credit reporting agency to assess an application for credit.
5. Ladbrokes.com.au will disclose to credit reporting agencies (CRA) personal information to assess any application for credit.
6. Ladbrokes.com.au can obtain from a CRA a credit report containing personal credit information in relation to any consumer/commercial credit provided by Ladbrokes.com.au.
7. Ladbrokes.com.au can exchange information with other credit providers about you and your application for consumer/commercial credit.
8. Ladbrokes.com.au can provide your personal information and any consumer/commercial reports to credit providers to collect overdue payments on any consumer/commercial credit owed by you.

Credit Betting Facility

9. Clients may be offered a Credit Betting Facility by Ladbrokes.com.au on registration, or at any other time in Ladbrokes.com.au's sole discretion.
10. A Credit Betting Facility may be reviewed by a third party credit reporting agency at any time.
11. Clients may accept or reject the offer of a Credit Betting Facility, or may apply for a Credit Betting Facility with a greater credit limit (an "Application").
12. Clients warrant and represent that any information supplied by them in an Application is true, correct and complete and will remain so. A Client will, upon request by Ladbrokes.com.au establish the truth, correctness and completeness of any information supplied by the Client in an Application. If the information contained in an Application changes at any time after an Application is sent to Ladbrokes.com.au, the Client will promptly notify Ladbrokes.com.au of such change.
13. Omission of any information required in an Application may result in Ladbrokes.com.au refusing an Application.
14. Ladbrokes.com.au may choose to approve or decline an Application at its sole discretion. If the Application is approved, the Client will be granted a Facility with a credit limit (a "Credit Betting Facility"). The credit limit of a Credit Betting Facility may be less than initially applied for by the Client. Ladbrokes.com.au will be under no obligation to disclose its reasons for declining an Application or offering a Credit Betting Facility with a credit limit lower than applied for by the Client.
15. Withdrawal requests for credit clients are processed daily. Ladbrokes.com.au will make payment of the net amount, being the sum of the Client’s pending withdrawal total minus the current outstanding credit balance at the time of processing.
16. Ladbrokes.com.au reserves the right to transfer Clients with a Credit Betting Facility to a weekly payout cycle if, at the sole discretion of the bookmaker, the Client’s payment history has breached the Credit Betting terms or is otherwise not in good standing.

Privacy

17. Clients with a Facility acknowledge and agree that all personal information held by Ladbrokes.com.au may be used or disclosed by Ladbrokes.com.au in accordance with the Privacy Policy, as set out below, and as permitted by the Privacy Act 1988 (Cth). Personal information may be used or disclosed: a. to enable Ladbrokes.com.au to perform its obligations to Clients under these Rules; b. to enable Ladbrokes.com.au to ensure that Clients perform their obligations under these Rules; c. to a credit reporting agency; d. to enable the recovery of debt; e. to maintain a credit information file on Clients; f. by Ladbrokes.com.au to carry out its own credit assessment on Clients; g. for planning, research, promotion and marketing of Ladbrokes.com.au's products and services; h. to organisations associated with the provision of Ladbrokes.com.au's services, such as associated data centres, for marketing and analysis purposes; i. to a potential purchaser of, or investor or in, any business conducted by Ladbrokes.com.au; and j. to law enforcement agencies to assist in the prevention of criminal activities.

Settlement

18. Ladbrokes.com.au and the Client will be required to settle in full any Credit Betting Facility Client Account Balance with a debit balance.
19. Ladbrokes.com.au and the Client agree that it is their intention that the credit provided to the client shall be short term credit and in no circumstances is it intended that the credit will be supplied for a period exceeding 5 days from the statement date.
20. The statement period ("Statement Period") for a Credit Betting Facility Client Account Balance will be a period of seven (7) days ending at 11.59pm to the first Sunday from the activation of a Client's Credit Betting Facility ("Statement Date"), and every seven (7) days thereafter, unless otherwise agreed in writing between Ladbrokes.com.au and the Client.
21. The settlement period ("Settlement Period) for settling a Credit Betting Facility Client Account Balance will be a period of five (5) days ending at Friday at 11:59pm immediately following the Statement Period with respect to wagers made by the Client and accepted by Ladbrokes.com.au during the preceding seven (7) day Statement Period, unless otherwise agreed in writing between Ladbrokes.com.au and the Client.
22. The Client must settle in full an outstanding Credit Betting Facility Client Account Balance during the Settlement Period.
23. Clients can settle their Credit Betting Facility Client Account Balance by credit card, BPAY, cheque or EFT. Clients agree that should they not settle an outstanding Credit Betting Facility Client Account Balance during a relevant Settlement Period Ladbrokes.com.au may, without further notice to the Client, debit the Client's registered credit card to settle the outstanding Credit Betting Facility Client Account Balance. If Clients settle their Credit Betting Facility Client Account Balance by cheque and a cheque is dishonoured, then the Client will be liable to pay Ladbrokes.com.au a fee of $16.50 (including GST) per dishonoured cheque.
24. If Clients do not settle their Credit Betting Facility Client Account Balance in full during the Settlement Period, Ladbrokes.com.au reserves the right to charge Clients an administrative fee of $25 and any interest on the outstanding amount, set at the Reserve Bank of Australia's Official Cash Rate plus 5%, until the outstanding amount is paid back in full. Interest on overdue Account Balances shall accrue, be calculated and compound daily from the date when the payment becomes due, until the date of payment. Ladbrokes.com.au may also suspend or cancel the Client's Account.
25. If a Client has not settled an outstanding Credit Betting Facility Client Account Balance within a fourteen (14) day period from their oldest Statement Date with an outstanding debt, Ladbrokes.com.au may automatically suspend the Client's Account from further betting activity until the Credit Betting Facility Client Account Balance is paid in full.
26. If a Client has not settled an outstanding Credit Betting Facility Client Account Balance within a twenty one (21) day period from their oldest Statement Date with an outstanding debt, Ladbrokes.com.au may automatically institute formal debt recovery proceedings against the Client to recover the Credit Betting Facility Client Account Balance.
27. Where a Client has not settled their Account Balance for prior Settlement Periods then those prior Settlement Periods must be settled as well.
28. A Client may be unable to place wagers if their Credit Betting Facility Client Account Balance at any time exceeds the credit limit of the Credit Betting Facility. If Ladbrokes.com.au after receiving a request from a Client, in its discretion, allows a Client to place a wager even though the placement of such a wager may result in the credit limit of the Credit Betting Facility being exceeded, the Client agrees that the credit limit has been exceeded as a result of their request and will settle their Credit Betting Facility Client Account Balance immediately upon written notification by Ladbrokes.com.au to do so.
29. Ladbrokes.com.au has the right to recover any overdue amounts from Clients through various means including but not limited to: debt selling, using mercantile agents or commencing legal action. Ladbrokes.com.au is entitled to recover the costs involved with recovering any overdue amounts and interest, in addition to the overdue amounts.
30. Ladbrokes Digital Australia Pty Ltd (the Company) reserves the right, without prior notice to the Client, to settle any Credit Betting Facility, whether partially or in full, with the funds of any Related Client Account held with the Company. This includes, but is not limited to, applying the debit balance held with one subsidiary to any other entity held by the parent company. For the avoidance of doubt, a Related Client Account is any other registered account, whether held in the Client’s name or otherwise, and includes accounts that either; share the same physical address, or through consanguinity or marital connection to the Client.

Termination, suspension and amendment

31. Ladbrokes.com.au may suspend, terminate, amend or make conditional a Credit Betting Facility at any time on notice to the Client. Upon termination or suspension of a Credit Betting Facility Ladbrokes.com.au may require payment of any outstanding Credit Betting Facility Client Account Balance immediately thereafter.

General

32. For the avoidance of doubt, it is a Client's responsibility to monitor their Credit Betting Facility Client Account Balance and to ensure that they comply at all times with these Credit Betting Terms and Conditions.
33. Ladbrokes.com.au may, in its discretion, give conditionally or withhold any approval or consent under these Credit Betting Terms and Conditions.
34. A Client may only assign its rights under these Credit Betting Terms and Conditions with the prior written consent of Ladbrokes.com.au.
35. Any term by its nature intended to survive termination of these Credit Betting Terms and Conditions survives termination of these Rules.
36. Ladbrokes.com.au does not waive a right, power or remedy if it fails to exercise or delays in exercising the right, power or remedy. A single or partial exercise of a right, power or remedy does not prevent another or further exercise of that or another right, power or remedy.