Disclosures and Authorisations

Please read all of the information and statements below carefully before you lodge an online application or apply by telephone for a loan.  If you do not fully understand anything stated below, please ask us for help, or seek independent legal and financial advice.

We are Cigno Pty Ltd, a company that helps people get loans.  We try to process loans within 30 minutes, and subject to approval, get cash into the borrower’s bank account the same day, or the next morning at the latest. That’s the service we offer to you!

At Cigno we specialise in accessing short-term emergency loans for our customers for amounts between $50 and $1000.

When applying you have two (2) options and which option you choose is completely up to you.

Option 1 – Gold-Silver Standard Finance (GSSF)

You can request Cigno to put in touch with the Lender, Gold-Silver Standard Finance Pty Ltd, and we will gladly do so.

GSSF will follow its normal credit procedure and, if your application is approved, the lender will mail you a cheque in your name. This option is the cheapest option for you because the lender charges only 5% of the loan amount under its loan agreement with you. While cheaper, this process does take longer. The lender will likely require you to send or fax information to enable them to assess your application, and if approved you will have to wait for a cheque to be mailed. Once deposited you will then also have to wait until the cheque clears.

Option 2 – Cigno Pty Ltd

Choose to use Cigno’s premium service which includes quick processing and approval, same and next day deposits, payment reminders and direct debit facilities and managing and facilitating the entire process from the time you apply until you’ve successfully paid out.

Our service gives you up to 8 weeks to repay by way of weekly or fortnightly payments.

You will still need to enter into a separate loan agreement with the lender, Gold-Silver Standard Finance Pty Ltd.

We understand that our service is not for everyone and if you would prefer to deal directly with the lender, Gold-Silver Standard Finance Pty Ltd, we will gladly put you in touch with them.

Dealing directly with the lender is a cheaper but a much more time consuming process which can take a couple of weeks to finalise.

Important: We receive no payments whatsoever from the lender whether you use our services or deal directly with them.

If you would like us to refer you to Gold-Silver Standard Finance Pty Ltd, please advise.

If you choose to use our services, the fees for those services will be payable under an agreement that we enter into with you; Cigno does not receive any money under any loan agreement that you enter into with the lender.

If you contact us, you will be asked what option you would like to choose.  If you would prefer to deal directly with the lender, please let us know and we will be happy to refer you.

It is important to understand that if you choose to use this service, as the lender only charges a flat rate of 5% of the loan amount, neither the lender nor Cigno is subject to the National Consumer Credit Protection Act 2009 (“the Act”), so the protections offered by the Act are not available to you with respect to this service that we provide, or any loan that you get from the lender.

Although Cigno and GSSF are not subject to the National Consumer Credit Protection Act 2009 they both have adopted the protections afforded by the act they believe to be best practice, and where practicable have sought to manifest those principles in their service. Cigno has an Internal Dispute Resolution Policy and is a member of Credit & Investigations Ombudsman (CIO).

Services Agreement Disclosure

This statement gives you information about any agreement that you may enter into with Cigno Pty Ltd (“Services Agreement”). If you have any further questions we are pleased to do our best to answer them. You are, however, always encouraged to get independent advice.

1.  Are the services provided by Cigno subject to the National Consumer Credit Protection Act 2009?

No. The services that we provide are not regulated by, or subject to, the National Consumer Credit Protection Act 2009 (“the Act”).

2.  Does Cigno receive payments from the lender or any third parties in relation to my loan application or the services it will provide to me?

No. Cigno only receives payments from you under the Services Agreement.

3.  What amounts could I be required to pay Cigno under the Services Agreement?

You will be required to pay the following types of payments to Cigno:

  • Financial Supply Fee calculated as follows:
    • 1 payment loan 35% of loan amount
    • 2 payment loan 45% of loan amount
    • 3 payment loan 60% of loan amount
    • 4 payment loan 75% of loan amount
    • 6 payment loan 95% of loan amount
    • 8 payment loan 115% of loan amount
    • Account Keeping Fee $5.95 per week
4. What happens if I default on my payments with Cigno?

Cigno will make all reasonable attempts to contact you and inform you of your defaulting payments as well putting a new payment arrangement in place. However, after 2 consecutive defaults Cigno will attempt to take the principal amount of the loan 1 business day before your usual repayment cycle.

 

NOTE: Cigno no longer offers 6 or 8 payment loans to New Clients. If you are an existing client and you normally borrow with 6 or 8 payments, we will continue to offer you these options.

The following types of payments may also be required to be made to Cigno under the Services Agreement:

Same Day Deposit Fee (if requested): $16.00
Priority Transfer Fee (if requested): $16.00
Extension of First Payment Fee (if requested): $20.00
Account Keeping Fee: $5.95
Change of Payment Date & Amount Fee (if requested):  

$20.00

Payment Reschedule Fee (if requested): $30.00
Collections Phone Contact Fee: $8.80
Collections Tracking Fee: $50.00
Investigator/Hand Over Fee: $175.00 (plus legal fees)
1st Dishonour Letter Fee: $30.00
2nd Dishonour Letter Fee: $50.00
3rd Dishonour Letter Fee: $50.00
Dishonoured Payment Fee: $49.00
  • The fees payable to Cigno under this agreement will be direct debited from your nominated account together with the payments you agree to make to
  • Cigno will retain its fees under this agreement and will account to GSSF on your behalf in relation to the monies due by you under the loan agreement you will enter into with

 

Debit/Credit Card Transaction Fee

Visa/MasterCard

1.65% (min $0.75) + $0.33

Loan Agreement Disclosure

This statement gives you information about an agreement that you may enter into with Gold-Silver Standard Finance Pty Ltd (“GSSF”) (“Loan Agreement”). If you have any further questions we will do our best to answer them. You are, however, always encouraged to get independent advice.

1.  How can I get details of my proposed Loan Agreement?

Before you enter into a Loan Agreement you will be provided with all of the details about a proposed Loan Agreement over the phone or via email so that you will be able to decide whether the Loan Agreement is right for you.

2.  How can I get a copy of the Loan Agreement?

If you agree to the Loan Agreement and you confirm that you want GSSF to fund the loan, a copy of the Loan Agreement and all other relevant documents will be given to you for your records within 7 days. If you want another copy of your Loan Agreement, write to Cigno and ask for one and a copy will be provided free of charge within 14 days of your written request.

3.  Can I terminate the Loan Agreement?

Yes. You can terminate the Loan Agreement by telling Cigno over the phone or in writing so long as you have not obtained any funds under the Loan Agreement. If you terminate the Loan Agreement like this you will not have to pay any fees or charges.

4.  Can I pay my Loan Agreement out early?

Yes. Just pay GSSF the amount required to pay out your Loan Agreement on the day you wish to end your contract.

5.  How can I find out the payout figure?

You can call or email Cigno at any time and ask for a statement of the payout figure as at any date you specify. You can also ask for details of how the amount is made up. The statement will be provided within 7 days after the request is made.

6.  Will I pay less interest if I pay out the loan amount early?

No. GSSF charges a fixed rate of 5% of the amount of the loan so your liability to GSSF does not decrease if the loan is discharged early.

7.    Can my Loan Agreement be changed by GSSF?

No. GSSF will not vary the terms of the Loan Agreement after it has been entered into.

8.    Is there anything I can do if I think that my Loan Agreement is unjust?

Yes. You should not enter into the Loan Agreement unless you are completely satisfied that you understand the terms and conditions on which the money is to be lent to you and that you actually need the loan.

Borrowing money is not cheap and you should not enter into the Loan Agreement lightly. If concerns arise after you have entered into the Loan Agreement and you have received funds from GSSF, talk to Cigno to see if you can come to some arrangement. If you remain unsatisfied, you can seek legal advice. Your community legal centre or Legal Aid may be able to assist.

Insurance

9.  Do I have to take out insurance?

No. There is no requirement by GSSF for you to take out insurance in relation to the Loan Agreement you will enter into with it. But you are free to take out insurance; it is a matter for you. If you do take out insurance, GSSF will not insist that you use any particular insurance company.

Mortgages

10. Will I be required to provide a mortgage or other form of security to GSSF for the loan amount?

No. GSSF does not require any security from you for its loans.

General

11. What do I do if I cannot make a repayment?

Get in touch with Cigno immediately to discuss whether some arrangement is possible.

12.  What if GSSF and I cannot agree on a suitable arrangement?

If GSSF refuses your request to change the repayments, you can ask it to reconsider this decision if you think it is wrong. If GSSF still refuses your request you may seek legal advice. Your community legal centre or Legal Aid may be able to assist.

13.  Can action be taken action against me if I default on the Loan Agreement?

Yes. If you are in default under the Loan Agreement action may be taken against you to recover the amount owed. However the law says that you cannot be unduly harassed or threatened. If you think you are being unduly harassed or threatened, contact Cigno or get legal advice.

14.    Is the Loan Agreement subject to the National Consumer Credit Protection Act 2009?

No, the credit provided by GSSF is not regulated or subject to the Act. You should not apply to borrow money from GSSF if you want the protections of the Act.

Electronic Transactions Act 1999 Authorisation and Consent

IMPORTANT: If you do not agree with any of the matters set out below you should not lodge an online or make a telephone loan enquiry with Cigno.

Cigno

It is contemplated that you and Cigno may enter into an agreement (“Services Agreement”). By contacting Cigno about entering into a Services Agreement, you acknowledge and agree that:

  • you are at least 18 years old, of sound mind and judgement and able to make decisions regarding your finances;
  • you understand that you have the right to get independent legal and financial advice before entering into the Services Agreement;
  • if you have any questions about the terms of the Services Agreement you will not enter into a Services Agreement unless those questions are answered to your satisfaction;
  • the Services Agreement may be entered into electronically /verbally over the phone by being read and explained to you and you indicating that you have understood and agree to the terms and conditions of that
  • if you do not wish to be bound by the Services Agreement, or if you wish to obtain independent legal or financial advice in relation to it, or if you do not fully understand all of the terms and conditions of the Services Agreement, you will indicate to the Cigno telephone operator that you do not wish to enter into the Services Agreement;
  • once you indicate to the Cigno telephone operator that you have understood and agree to the terms and conditions of the Services Agreement, and funds have been advanced by the lender, that you will be bound by the Services Agreement as if you had signed a hard copy of the Services Agreement;
  • the terms and conditions of the Services Agreement and any related materials and information (“Cigno Materials”) may be provided, or otherwise made available, to you electronically under the Electronic Transactions Act 1999 (“the Act”) and that;
  • paper documents may no longer be provided to you;
  • you will regularly check your nominated email account for Cigno Materials;
  • you may at any time withdraw consent for the Cigno Materials to be provided
Gold-Silver Standard Finance Pty Ltd

It is contemplated that you and Gold-Silver Standard Finance Pty Ltd (“GSSF”) may enter into an agreement (“Loan Agreement”). By contacting Cigno about entering into a Loan Agreement with GSSF, you acknowledge and agree that:

  • you are at least 18 years old, of sound mind and judgement and able to make decisions regarding your finances;
  • you understand that you have the right to get independent legal and financial advice before entering into the Loan Agreement;
  • if you have any questions about the terms of the Loan Agreement you will not enter into a Loan Agreement unless those questions are answered to your satisfaction;
  • the Loan Agreement may be entered into electronically /verbally over the phone by being read and explained to you and you indicating that you have understood and agree to the terms and conditions of that
  • if you do not wish to be bound by the Loan Agreement, or if you wish to obtain independent legal or financial advice in relation to it, or if you do not fully understand all of the terms and conditions of the Loan Agreement, you will indicate to the Cigno phone operator that you do not wish to enter into the Loan Agreement;
  • once you indicate to the Cigno phone operator that you have understood and agree to the terms and conditions of the Loan Agreement, and funds have been advanced by the lender, that you will be bound by the Loan Agreement as if you had signed a hard copy of the Loan Agreement;
  • the terms and conditions of the Loan Agreement and any related materials and information (“GSSF Materials”) may be provided, or otherwise made available, to you electronically under the Act and that;
  • paper documents may no longer be provided to you;
  • you will regularly check your nominated email account for GSSF Materials;
  • you may at any time withdraw consent for the GSSF Materials to be provided
Direct Debit Request

You authorise and request IntegraPay Pty Ltd ABN 63 135 196 397 (User ID 382220) to debit payments from your account at the bank which details you have provided at intervals and amounts as directed by Cigno Pty Ltd as per the terms and Conditions of your agreement with Cigno (and if applicable Gold-Silver Standard Finance Pty Ltd) “Business” in accordance with this Direct Debit Request and the IntegraPay DDR Service Agreement.

Direct Debit Request Service Agreement

This Agreement is designed to explain what your obligations are when undertaking a Direct Debit arrangement with IntegraPay and the Business. It also details what our obligations are to you as your Direct Debit Provider. We recommend you keep this agreement in a safe place for future reference. It forms part of the terms and conditions of your Direct Debit Request (DDR) and should be read in conjunction with your DDR form

You acknowledge that IntegraPay is acting as a Direct Debit Agent for the Business and that IntegraPay does not provide any goods or services and has no express or implied liability in regards to the goods and services provided by the Business or the terms and conditions of any agreement with the Business.

You acknowledge that IntegraPay and the Business will keep any information (including account details) contained in the Direct Debit Request confidential. IntegraPay and the Business will make reasonable efforts to keep any such information that we have about you secure and to ensure that any of our employees or agents who have access to information about you do not make any unauthorised use, modification, reproduction or disclosure of that information.

We will only disclose information that we have about you:

  1. to the extent specifically required by law; or
  2. for the purposes of this agreement (including disclosing information in connection with any query or claim).

You acknowledge that the debit amount will be debited from my/our account according to the Direct Debit Request, this Agreement and the terms and conditions of the agreement with the Business.

You acknowledge that bank account details have been verified against a recent bank statement to ensure accuracy of the details provided. If uncertain you should contact your financial institution.

You acknowledge that is my/our responsibility to ensure that there is sufficient cleared funds in the nominated account by the due date to enable the direct debit to be honoured on the debit date. Direct debits normally occur overnight; however transactions can take up to three (3) business days depending on your financial institution. I/We acknowledge and agree that sufficient funds will remain in the nominated account until the direct debit amount has been debited from the account and that if there are insufficient funds available, I/We agree that IntegraPay will not be held responsible for any fees and charges that may be charged by your financial institution.

You Acknowledge that there may be a delay in processing if:

  • There is a public or bank holiday on the day, or any day after the debit date
  • A payment request is received by IntegraPay on a day that is not a Banking Business Day
  • A Payment request is received after normal operational hours, being 4pm Monday to Friday. Any payments that fall due on any of the above will be processed on the next business day.

You authorise the Business to vary the amount of the payments from time to time as provided for within the Business agreement. You authorise IntegraPay to vary the amount of the payments upon instructions from the Business. You do not require IntegraPay to notify me/us of such variations to the debit amount.

You acknowledge that the total amount billed will be for the specified period for this and/or subsequent agreements and/or amendments. You acknowledge that the Business is to provide 14 days notice if proposing to vary the terms of the debit arrangements.

You acknowledge that variations to the debit arrangement will be directed to the Business.

You acknowledge that any request to stop or cancel the debit arrangement will be directed to the Business.

You acknowledge that any disputed debit payments will be directed to the Business. If no resolution is forthcoming you are advised to contact your financial institution.

You acknowledge that if a debit is returned by my/our financial institution as unpaid, you will be responsible for any fees and charges for each unsuccessful debit in addition to any financial institution charges and collection fees, including and not limited to any solicitor fees and collection agent fees appointed by IntegraPay.

You authorise IntegraPay to attempt to re-process any unsuccessful payments as advised by the Business.

You acknowledge that if specified by the Business, a setup, variation, dishonour, SMS or processing fees may apply as instructed by the Business. You authorise:

  • The Debit User to verify details of my/our account with my/our financial institution
  • The Financial Institution to release information allowing the Debit User to verify my/our account details.

IntegraPay Pty Ltd

ABN: 63 135 196 397

P.O Box 6290, Upper Mt Gravatt, Queensland 4122 Ph: 07 3040 4320  Fax: 07 3343 8590

 

WARNING

Do you really  need a Loan today?*

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems

Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to work out a payment plan

Go to www.moneysmart.gov.au MoneySmart shows you how small amount loans work and suggests other options that may help you.