Overcoming poverty is not a gesture of charity. It is an act of justice. It is the protection of a fundamental human right, the right to dignity and a decent life. Nelson Mandela

Legal

Should you have any questions, queries, comments, or concerns about the below policies, please contact us. Click on any of the headers to reveal the content.

» Terms & Conditions

GOOD RETURN PROGRAM – TERMS AND CONDITIONS

The following terms and conditions govern your use of and access to the Website. By accessing or using the Website, you implicitly agree to accept whatever part or parts of these terms and conditions is/are applicable to the transaction(s) that you wish to complete with World Education Australia Ltd (WEAL), and no variation(s) will be permitted except with our written agreement.

We refer interchangeably in these terms and conditions to “WEAL” and “Good Return”, and reference to one shall include the other.

PART 1 – IF YOU HAVE DECIDED TO DONATE

We endeavour to direct the funds You donate, whether regular or otherwise, to Your chosen programs. However, circumstances beyond our control may dictate that we should utilise Your funds in areas of greater need, and we therefore reserve the right to re-direct Your funds to a program(s) where such a greater need exists as appropriate, without having to notify You in advance.

PART 2 – IF YOU HAVE DECIDED TO FUND A LOAN APPLICANT BY WAY OF A LOAN

2.1 Introduction

This Part 2 of the Terms and Conditions applies if You have elected, via the Website, to provide funding to a Loan Applicant by way of a Loan. If You have elected to make more than one Loan during Your visit to our Website, this Agreement will apply to each of those Loans.

2.2 The Loan

(a) You have elected, via the Website, to make one or more Loans.

(b) A Loan may be made either directly by You (where You choose Your Loan Applicant) or by purchasing a Gift Certificate for a Loan (where You give the Gift Certificate to somebody else, such as a friend or relative, and they (as the Beneficiary of the Gift Certificate) choose the Loan Applicant.

(c) You will pay the amount of each Loan to WEAL in $AUD. Details of how You can make this payment are provided in clause 2.4 below.

(d) You wish the amount of each Loan to be provided to the Loan Applicant that you have selected for that Loan. In order to achieve this, WEAL will disburse the amount of the Loan to an MFI Partner. The MFI Partner is an organisation operating within the country in which Your Loan Applicant lives, appointed by WEAL to assist in the funding of poor and low-income persons. When the MFI Partner receives the proceeds of Your Loan from WEAL, the MFI Partner will provide the amount of the Loan to the Loan Applicant that You selected for that Loan (in the Relevant Foreign Currency).

(e) WEAL regularly changes the Applicants featured on the Website and may withdraw or remove an Applicant from the Website at any time and for any reason.

(f) If WEAL does not raise the full amount of funding advertised for Your Loan Applicant on the Website, it will still use Your Loan to partly fund Your Loan Applicant.

2.3 Administration Fee

You will pay the Administration Fee to WEAL in $AUD when You make a Loan. Details of how You may pay the Administration Fee are provided in clause 1.4 below. This Administration Fee covers WEAL’s operational costs as well as its obligation to pay GST to the Australian Government.

2.4 Payments

You may make payments to WEAL in accordance with the Website using either Visa, Mastercard or Your PayPal account.

2.5 Foreign Exchange Risk

(a) Your Loan to WEAL is in $AUD.

(b) The funds that WEAL disburses to its relevant MFI Partner (for provision to the Loan Applicant) will be provided to that MFI Partner in Relevant Foreign Currency.

(c) Loans made by an MFI Partner to Your Loan Applicant (using the proceeds of Your Loan) will be repayable by Your Loan Applicant in Relevant Foreign Currency to the MFI Partner, and the MFI Partner has undertaken to remit all such payments to WEAL in Relevant Foreign Currency.

(d) When WEAL receives moneys in respect of the repayment of Your Loan from an MFI Partner in Relevant Foreign Currency, WEAL will convert those moneys into $AUD (in accordance with a published exchange rate) before remitting them to You in $AUD.

(e) Currency losses: You assume all currency exchange risk associated with the Loan, including the risk of depreciation of the Relevant Foreign Currency against the $AUD.

(f) Currency gains: Conversely, You will be entitled to the benefit of any appreciation of the Relevant Foreign Currency as against the $AUD.

(g) The amount of the Loan according to the Website is calculated by WEAL using a formula based on a published daily exchange rate, and may be slightly higher in $AUD than the actual amount of funding requested by Your Loan Applicant in order to protect WEAL from foreign exchange fluctuations whilst the Loan is being sought and funded.

(h) Surplus funds collected by WEAL as a result of clause 2.5(g) will be held by WEAL until the end of the Loan and then returned to You. WEAL may retain any interest or other benefits earned as a result of it holding or depositing such funds prior to their return to You.

(i) Where a Loan Applicant is funded via more than one Loan from multiple Lenders, any gain or loss arising as a result of converting disbursed funds from $AUD into the Relevant Foreign Currency or as a result of converting repaid funds from the Relevant Foreign Currency into $AUD, will be proportionally divided amongst all Lenders that provided loans to that Loan Applicant.

2.6 Disbursal of Loan Funds to the Loan Applicant (via an MFI Partner)

(a) WEAL will aggregate loans received from Lenders and (subject to clause 1.5(g)) will disburse such funds periodically (usually monthly) to the relevant MFI Partner in Relevant Foreign Currency. The funds received from the Lenders for a Loan may not actually be remitted (in whole or in part) to the MFI Partner but may instead be offset against any repayments due from that MFI Partner during the relevant period.

(b) WEAL reserves the right to adjust the size of a Loan at any time. For example, this need may arise as a result of insufficient funds being raised on the Website or negative currency movements that have occurred since the Loan was first listed on the Website.

(c) An MFI Partner may have disbursed funding to the Loan Applicant prior to the Loan being provided by You. In this situation the MFI Partner may use the proceeds of Your Loan to refinance the existing funding provided by it. WEAL is not obliged to inform You if this occurs.

(d) The MFI Partners are responsible for the screening of Applicants before submitting their details to WEAL. WEAL uses a rigorous selection process to identify and select its MFI Partners and will conduct periodic monitoring of its MFI Partners, but WEAL accepts no responsibility for the genuineness of any Applicants (including Your Loan Applicant), or for the adequacy or accuracy of any information provided from any source in relation to any Applicants (such as Your Loan Applicant).

(e) The MFI Partners have agreed to use reasonable endeavours to ensure that the proceeds of loans provided to them by WEAL and funded via the Good Return Program are used by the relevant Loan Applicant(s) for the purpose(s) notified to WEAL and displayed on the Website. WEAL will make every effort to ensure that Your Loan is used for its intended purpose (as displayed on the Website) but cannot guarantee that the proceeds of Your Loan are used for any particular purpose.

(f) WEAL may retain any interest or other benefits earned as a result of it holding or depositing funds received from You prior to the next scheduled transfer of such funds to the relevant MFI Partner.

2.7 Loan Repayment

(a) Subject to paragraph (c) below, if WEAL receives (from the relevant MFI Partner) an amount in respect of the repayment of Your Loan, WEAL will notify You by email (via the email address You supplied at the time of making the relevant Loan) and advise You:

(i) that the Loan has been finalised;

(ii) of any currency loss or gain;

(iii) of any Loan loss (i.e. if any amount of the Loan has not been repaid in full); and

(iv) that You should decide whether You wish to re-lend, donate or withdraw the funds.

All Loan repayments will be made by PayPal to the email address that You notified to WEAL when You made the Loan via the Website. (“Your Email Address”). Your Email Address should be linked to a PayPal account. If Your Email Address is not linked to a PayPal account when WEAL wishes to remit the Repayment Amount to You, we will ask You to either create a new PayPal account linked to Your Email Address, or link Your Email Address to an existing PayPal account, prior to WEAL being able to transfer the Repayment Amount to You.

If “Your Email Address” is not valid, current or functioning WEAL will incur no further obligation to notify you that the Loan has been repaid.

Once WEAL transfers the Repayment Amount to Your Email Address in accordance with this paragraph, it will have no further payment obligations in respect of that Loan.

(b) WEAL will post details of repayment of the Loan on the Website. These details will also be available by email if You elect (via the Website) to receive email notifications.

(c) You will ordinarily not receive any Loan repayments until the end of the term of the Loan (the term of the Loan is displayed on the Website). Notwithstanding this, WEAL reserves the right to make repayments of Your Loan earlier than this and WEAL will incur no cost, charge, penalty or liability for doing so.

(d) Repayments are limited to the principal Loan amount. You will not receive interest, or any other return or benefit, in respect of the Loan (other than potential currency gains referred to in clause 2.5(f) above).

(e) If WEAL notifies You in accordance with paragraph (a) above that Your Loan has been finalised but You do not claim the Repayment Amount within 12 months of such notification (or if the email account you provided to Good Return is not valid, current or functioning or You do not link Your Email Address to a PayPal account within 12 months of WEAL requesting You to do so), the unclaimed Repayment Amount may be retained by WEAL and treated by WEAL as a Donation to improve the lives of the poor in the Asia Pacific region.

(f) The MFI Partners have agreed to use reasonable endeavours to collect principal repayments of loans sourced from Lenders and provided to Applicants. The MFI Partners have also agreed to use their existing collection processes for collecting loan repayments from Applicants. WEAL will not be responsible for any losses, issues or inefficiencies in relation to the collection of loan instalments from Your Loan Applicant or from any other Applicant.

(g) WEAL does not guarantee that You will receive any Repayment Amount.

(h) WEAL will attempt to provide accurate information on the repayment performance of Applicants such as Your Loan Applicants and this may be published on the Website. However, You should not rely upon the validity of this information as an estimate of the likelihood of the repayment of Your Loan.

(i) WEAL may retain any interest or other benefits earned as a result of it holding or depositing funds received by an MFI Partner prior to the disbursement of such funds to You.

(j) Where a Loan is made by the purchase of a Gift Certificate, WEAL will make repayments to the Beneficiary in accordance with (a)-(i) above, and paragraphs (a) – (j) above shall apply as if each reference to “You” was a reference to the Beneficiary as well.

2.8 Default Risk

(a) You acknowledge that all Applicants, including Your Loan Applicant, are considered risky by traditional lenders due to various factors including, but not limited to:

(i) lack of credit history;

(ii) individual or geographical financial instability; and

(iii) absence of security for financial accommodation.

(b) You acknowledge and agree that there is no undertaking or guarantee that the Loan will be repaid. You assume all liability and loss if all or any part of the Loan is not repaid either by Your Loan Applicant or by the MFI partner responsible for disbursing the loan to the Loan Applicant.

2.9 Loan Losses

(a) Any Loan losses remain Your responsibility.

(b) If a Loan Applicant is funded via more than one Loan from multiple Lenders, any Loan losses will be proportionally divided amongst those Lenders.

2.10 Tax deductibility

You acknowledge and agree that:

(a) WEAL is a registered Australian charity with PBI and DGR status and operates the WEAORF which has DGR status.

(b) Lenders have a choice of funding a Loan Applicant either through a Donation or a Loan. The tax treatment of each may differ.

(c) You are solely responsible for determining the proper tax treatment of Your Loan and any resulting profits or losses. WEAL has not and will not provide any tax or legal advice to You in connection with any Loan .

2.11 MFI Partners

(a) WEAL does not guarantee its MFI Partners and will not be liable for any default, malfeasance or negligence of an MFI Partner.

(b) An MFI Partner may charge interest or fees to its clients (including Your Loan Applicant) to cover the MFI Partner’s administration and management expenses and in order to ensure a sustainable service provision to the MFI Partner’s clients (including Your Loan Applicant). You are not entitled to any such interest or fees charged by any MFI Partner.

2.12 Representations and Warranties by You

You represent and warrant to WEAL that:

(a) You are empowered to enter into the Agreement;

(b) Your entry into the Agreement does not breach any law of any jurisdiction;

(c) You have the full and complete right, power and authority to submit to the Website any text, graphics, photographs, images, moving images, sound, illustrations and software that You submit to the Website from time to time, and by doing so you will not be breaching any law, contractual obligation or intellectual property right of any person;

(d) You understand the risks inherent in entering into the Agreement, including the currency exchange and payment default risks referred to on the Website, and you have, to the extent necessary, obtained appropriate legal and/or commercial advice in relation to those risks; and

(e) You have not entered into the Agreement in reliance on or as a result of any advice, representation, promise, statement, conduct or inducement by or on behalf of WEAL (or any of its employees or representatives) otherwise than as expressly embodied in these Terms and Conditions.

2.13 Cancelling decision to make a loan or a donation

Loan
If you have completed the process of making a loan but later change your mind, you must advise Good Return within 7 days if you wish to cancel the transaction.

In that case, you should contact Good Return at [email protected] and provide full details (date, borrower, amount) of the loan(s) that you wish to cancel. We need this information so that we can reimburse your Good Return PayPal account with the amount of the loan(s). You can thereafter withdraw the funds at your discretion. We will not reimburse any Administration Fee that was charged at the time you made the loan.

Loan donation or a donation
If you have completed the process of making loan donation or donation but later change your mind, we regret that it is not possible for Good Return to reverse the transaction. This is because you will have already received an automatically generated tax receipt for your donation, which cannot be cancelled.

Top

PART 3 – IF YOU HAVE DECIDED TO FUND A LOAN APPLICANT BY WAY OF A DONATION

3.1 Introduction

This Part 3 of the Terms and Conditions applies if You have elected, via the Website, to provide funding to a Loan Applicant by way of a Donation. If You have elected to make more than one Donation during Your visit to our Website, this Agreement will apply to each of those Donations.

3.2 The Donation

(a) You have elected, via the Website, to make one or more Donations.

(b) A Donation may be made either directly by You (where You choose Your Loan Applicant) or by purchasing a Gift Certificate for a Donation (where You give the Gift Certificate to somebody else, such as a friend or relative, and they (as the Beneficiary of the Gift Certificate) choose the Loan Applicant).

(c) You will pay the amount of each Donation to WEAL in $AUD. Details of how You can make this payment are provided in clause 3.3 below.

(d) You wish the amount of each Donation to be provided to the Loan Applicant that you have selected for that Donation. In order to achieve this, WEAL will disburse the amount of the Donation to an MFI Partner. The MFI Partner is an organisation operating within the country in which Your Loan Applicant lives, appointed by WEAL to assist in the funding of poor and low-income persons. When the MFI Partner receives the proceeds of Your Donation from WEAL, the MFI Partner will provide the amount of the Donation to the Loan Applicant that You selected for that Donation (in the Relevant Foreign Currency).

(e) WEAL may lend the proceeds of Your Donation to an MFI Partner (for on-lending to Your Loan Applicant). If WEAL does so, and WEAL subsequently receives a repayment or return of those funds, WEAL may then apply those moneys so repaid or returned towards improving the lives of the poor in the Asia Pacific region.

(f) WEAL regularly changes the Applicants featured on the Website and may withdraw or remove an Applicant from the Website at any time and for any reason.

(g) If WEAL does not raise the full amount of funding advertised for Your Loan Applicant on the Website, it will still use Your Donation to partly fund Your Loan Applicant.

(h) Each Donation is made, essentially, by way of gift and is not returnable, refundable or repayable by WEAL.

(i) WEAL may apply a portion of Your Donation to cover its operational costs, and/or to protect WEAL against currency fluctuations whilst the Donation is being sought and funded.

(j) Donations to fund Loan Applicants who reside within Australia are made to WEAL. Donations to fund Loan Applicants who reside outside of Australia are made to WEAORF. All references to WEAL in this Part 2 shall be construed to include a reference to WEAORF in the case of Donations to fund Loan Applicants who reside outside of Australia.

3.3 Payments

You may make payments to WEAL in accordance with the Website using either Visa, Mastercard or Your PayPal account.

3.4 Disbursal of Donations to the Loan Applicant (via an MFI Partner)

(a) WEAL will aggregate Donations received from Donors and will disburse such funds periodically to the relevant MFI Partner in Relevant Foreign Currency. The funds received from the Donors for a Loan may not actually be remitted (in whole or in part) to the MFI Partner but may instead be offset against any repayments due from that MFI Partner during the relevant period.

(b) WEAL reserves the right to adjust the size of a Donation at any time. For example, this need may arise as a result of insufficient funds being raised on the Website or negative currency movements that have occurred since the Donation was first listed on the Website.

(c) An MFI Partner may have disbursed funding to the Loan Applicant prior to the Donation being provided by You. In this situation the MFI Partner may use the proceeds of Your Donation to refinance the existing funding provided by it. WEAL is not obliged to inform You if this occurs.

(d) The MFI Partners are responsible for the screening of Applicants before submitting their details to WEAL. WEAL will select MFI Partners with care and will conduct periodic monitoring of its MFI Partners, but WEAL accepts no responsibility for the genuineness of any Applicants (including Your Loan Applicant), or for the adequacy or accuracy of any information provided from any source in relation to any Applicants (such as Your Loan Applicant).

(e) The MFI Partners have agreed to use reasonable endeavours to ensure that the proceeds of donations provided to them by WEAL and raised via the Website are used by the relevant Loan Applicant(s) for the purpose(s) notified to WEAL and displayed on the Website. WEAL is under no obligation to ensure that the proceeds of Your Donation are used for any particular purpose.

(f) WEAL may retain any interest or other benefits earned as a result of it holding or depositing funds received from You prior to the next scheduled transfer of such funds to the relevant MFI Partner.

3.5 MFI Partners

WEAL does not guarantee its MFI Partners and will not be liable for any default, malfeasance or negligence of an MFI Partner.

3.6 Representations and Warranties by You

You represent and warrant to WEAL that:

(a) You are empowered to enter into the Agreement;

(b) Your entry into the Agreement does not breach any law of any jurisdiction;

(c) You have the full and complete right, power and authority to submit to the Website any text, graphics, photographs, images, moving images, sound, illustrations and software that You submit to the Website from time to time, and by doing so you will not be breaching any law, contractual obligation or intellectual property right of any person;

(d) You understand the risks inherent in entering into the Agreement and you have, to the extent necessary, obtained appropriate legal and/or commercial advice in relation to those risks; and

(e) You have not entered into the Agreement in reliance on or as a result of any advice, representation, promise, statement, conduct or inducement by or on behalf of WEAL (or any of its employees or representatives) otherwise than as expressly embodied in these Terms and Conditions.

Top

PART 4 – MY GOOD RETURN

4.1 Introduction

This Part 4 of the Terms and Conditions applies if You have elected, via the Website, to create Your own unique location on the Website where You can store and update Your personal details (‘My Details’) and Your password (‘My Password’), view details of Your contribution(s) and their impact (‘My Return on Giving’), download Your tax deductible donation records (‘My Statement’), arrange regular giving (‘My Regular Giving’), subscribe to the Good Return Newsletter (‘My Subscription’) and organise Your own fundraising campaigns for Good Return (‘My Fundraising’).

My Good Return is owned and operated by WEAL under the brand Good Return, and is provided to You on the following terms and conditions.

4.2 My Return on Giving

This area of My Good Return enables you to view Your contribution(s) and the impact You’ve made so far.

4.2.1 My Contribution

This shows Your contribution(s) made in the current financial year (1 July/30 June). The loan data that You can view is delayed by up to 14 days, as it is not currently possible for us to show it in real time.

The data that can be viewed includes:

Invest in Good: includes all donations for our bankers, trainers and country programs, as well as donations for loans.

Fund Small Loans: includes money used to fund borrowers’ loans, which is repaid to you later.

Donate Goods: includes all goods and services given to Good Return for operational and promotional purposes.

Do Good (for Corporate Social Investors only): includes pro bono work.

We reserve the right to amend or vary the above categories of data that You can view, without prior notice to you. We will endeavour to make you aware of any such amendments through the Website.

So far as concerns non-monetary donations, the value of these will be converted to a cash equivalent on the basis of their market value (for goods), a reasonable market price (for services), or Your normal charge-out rate (for pro bono work), all as at the time the donation is made.

4.2.2 My Social Investor

The concept of My Social Investor is still under development. The idea is to recognise your contribution, and offer you the opportunity to become even more involved with our work.

Qualifying Factors:

(i) to become a Public Social Investor, you’ll need to earn at least 1,000 Good Return points in the immediate past financial year
(ii) for a Corporate Social Investor, at least 50,000 points are required to be earned in the immediate past financial year.

These points may be earned from any kind of donation: money, goods and services, or pro bono work by corporates

(iii) for the purposes of determining the points value of Your contribution(s), we will use the same criteria as are set out under My Contribution
(iv) unfortunately, we cannot allow ‘unused’ points earned in one financial year to be carried forward into the next financial year

To show our appreciation, you’ll receive a special invitation to join our regular program updates, annual general meeting, and microfinance presentations. You can also visit our programs, but you’ll have to meet your own travel expenses.

4.2.3 My Impact

Your support has helped Good Return make a difference to the lives of people living in poverty in Asia Pacific. Measuring the specific impact of such development work is no easy task, but here is an explanation of how we do it.

We estimate the number of people who have directly benefited by analysing the total of bankers, borrowers, village trainers and trainees who have participated in our programs in the previous financial year (1 July/30 June). In order to calculate a ‘program cost per person’ we then divide that number into the total expenditure on all our relevant programs in the same financial year.

Although not included in these estimations, it is worth remembering that the immediate families of those who have participated in our programs will also indirectly benefit, all of which has been made possible by your support.

4.3 My Details

(a) You have elected, via the Website, to provide and update your personal details by completing an on-line form. It may take up to 24 hours for any updated details to appear in your account.

(b) You must personally provide the information requested during the registration process and must ensure that it is, and is kept, accurate, true, current and complete.

(c) By completing the My Profile process, You are signifying Your agreement to be bound by all these terms and conditions. If You do not agree to any of these terms or conditions, or if You violate any of them, Your permission to use My Profile automatically terminates and You must leave My Good Return immediately.

(d) You agree that You will not use My Good Return for any purpose that is intentionally or  unintentionally unlawful, discriminatory or defamatory in any way of any person or organisation, or offensive or obscene.

(e) We may terminate Your My Good Return account, in our absolute discretion, if we consider that there has been (i) violation of these terms and conditions; (ii) abuse of site resources or any attempt to gain unauthorised entry to the Website or Website resources; (iii) use of the Website in a manner inconsistent with its purpose; or (iv) if we are required to do so by law, regulation, court or regulatory agency order or (v) if You so request.

(f) We shall not be liable to You or any third party for any termination of Your access or account. In addition, Your request for termination will result in deactivation but not necessarily deletion of the account. We reserve the right to delete, or not to delete, Your account at our sole discretion, as well as to delete, or not to delete, content at our sole discretion.

(g) You are wholly responsible for maintaining the confidentiality of Your login details, and it is therefore important that You safeguard them, as we cannot be responsible for
any loss, injury or damage flowing from their becoming public for any reason outside our control.

(h) Please be aware that in order to facilitate administration of the Website, the administrator (only) will have access to Your login and password.

(i) We ask for details of Your employer as You can potentially double the impact of Your donations, since many employers have a workplace giving program whereby they match
employees’ donations.

(j) Your email address is Your unique identifier in our database; if you need to change it, please contact us direct.

4.4 My Password

In this area, You can store and update Your password at any time.

4.5 My Regular Giving

We encourage you to support Good Return through regular giving as Your ongoing commitment helps us to make long-term plans to fight poverty. Regular donations are normally deducted around the 15th of the month, depending on the frequency You’ve selected. Any changes in Your regular giving details may take one full donation cycle to be updated in our system.

We endeavour to direct the funds You donate, whether regular or otherwise, to Your chosen programs. However, circumstances beyond our control may dictate that we should utilise Your funds in areas of greater need, and we therefore reserve the right to re-direct Your funds to a program(s) where such a greater need exists as appropriate, without having to notify You in advance.

Every July we’ll email You a receipt for all Your regular donations in the past financial year, showing:

  • Program(s) You’re supporting
  • Frequency
  • Amount:

To update Your Regular Giving, please contact us.

4.6 My Subscription

We encourage You to subscribe to our monthly e-newsletters. You are under no obligation to do so, but it is a way in which You can stay in touch with our people in the field such as community bankers and village trainers, and keep up to date with our programs. Our newsletters will be sent to the current email address that we have for You in our database.

4.7 My Fundraising

In this area, You can view fundraising activities conducted by You on Good Return’s behalf. All fundraising activities will only be permitted by Us subject to our standard terms and conditions of fundraising, a copy of which can be obtained from Us on application by You. For more information, go to Become a Fundraiser »

4.8 My Statement

You can view and download Your annual statement at any time on My Good Return by choosing the desired financial year and clicking on the download button.

Top

Part 5 – GENERAL

5.1 Introduction

This Part 5 of the Terms and Conditions applies to Loans, Donations and My Good Return.

5.2 Definitions

In these Terms and Conditions:

“Administration Fee” means a fee (in $AUD) equal to 10% of the total of all Loan Amounts in respect of Loans made by You in this visit to the Website, provided that:

(a) if such amount would be less than $AUD5.00 – the Administration Fee shall be $AUD5.00; and

(b) if such amount would be greater than $AUD25.00 – the Administration Fee shall be $AUD25.00.

“Applicant” means a low-income loan applicant who has been identified as a potential loan applicant on the Website.

“$AUD” is a reference to Australian dollars.

“Agreement” means the agreement between You and WEAL, which is formed upon your acceptance of these Terms and Conditions.

“Beneficiary” means where You have elected to purchase a Gift Certificate, the beneficiary of the Gift Certificate (as notified by You to WEAL in accordance with the Website).

“Content” means all content featured or displayed on the Website, including text, graphics, photographs, images, moving images, sound, illustrations and software.

“DGR” means a deductible gift recipient.

“Donation” means a donation of money (in $AUD) by You to:

(a) WEAL – in the case of funding for Loan Applicants who reside within Australia; or

(b) WEAORF – in the case of funding for Loan Applicants who reside outside of Australia.

The amount of the Donation will be provided by WEAL or WEAORF (as applicable) to a MFI Partner for provision to Your Loan Applicant. A Donation may be made either:

(c) in Your name; or

(d) in the name of a Beneficiary, if you have decided to purchase a Gift Certificate for a Donation.

“Donor” means:

(a) a person who elects to provide funding to a Loan Applicant by way of a donation in accordance with the Website; and/or

(b) a person who elects to purchase (in accordance with the Website) a Gift Certificate to provide funding to a Loan Applicant in the name of, and on behalf of, a Beneficiary by way of a Donation.

“Gift Certificate” means, if you have elected to do so via the Website, a gift certificate whereby You agree to provide funding to the Loan Applicant in the name of a Beneficiary – (either by way of a Loan or a Donation). The Beneficiary will then select the Loan Applicant. If the Beneficiary fails to select a Loan Applicant within 12 months of the date of issue of the Gift Certificate, WEAL may apply the amount of the Gift Certificate (either itself or via WEAORF) to improve the lives of the poor in the Asia Pacific region. “Good Return Program” means WEAL’s Good Return Program which aims to provide a sustainable means for low-income people in Australia and the Asia Pacific region to improve their lives through access to capital and skills development opportunities.

“Good Return” is a registered business name and trademark owned by WEAL, and is the primary brand used by WEAL for its charitable purposes.

“Government Authority” means any government or any governmental or semi-governmental entity, authority, agency, commission, corporation or body (including those constituted or formed under any statute), local government authority, administrative or judicial body or tribunal or stock exchange.

“GST” means any goods and services Tax, consumption Tax, value added Tax or any similar Tax.

“Lender” means:

(a) a person who elects to provide funding to a Loan Applicant by way of a loan in accordance with the Website; and/or

(b) a person who elects to purchase (in accordance with the Website) a Gift Certificate to provide funding to a Loan Applicant in the name of , and on behalf of, a Beneficiary.

“Loan” means a loan of money by You to WEAL, which will be provided by WEAL to a MFI Partner for provision to Your Loan Applicant. The amount of each Loan has been selected by You in accordance with the Website. It does not include the Administration Fee, which is additional. A Loan may be made either:

(a) in Your name; or

(b) in the name of a Beneficiary, if you have decided to purchase a Gift Certificate for a Loan.

You may make more than one Loan when You visit the Website.

“Loan Amount” means either:

(a) the amount of the Loan; or

(b) the aggregate value of the Gift Certificate purchased by You,

as applicable.

“Loan Applicant” or “Your Loan Applicant” means the Applicant whom You (or the Beneficiary of a Gift Certificate) have elected to fund by way of either a Loan or a Donation. Where You have decided to make a direct Loan or Donation, You will choose Your Loan Applicant. Where You have chosen to purchase a Gift Certificate, the Beneficiary of that Gift Certificate will choose Your Loan Applicant.

“MFI Partner” means a microfinance institution partner of WEAL. Each Applicant, including Your Loan Applicant, is sourced by an MFI Partner operating in that Applicant’s jurisdiction.

“PayPal” means the system for transmitting funds using www.paypal.com.

“PBI” means a Public Benevolent Institution.

“Relevant Foreign Currency” means the currency of the country in which Your Loan Applicant resides.

“Repayment Amount” means, in respect of a Loan, the amount of money actually received by WEAL (in Relevant Foreign Currency) from the relevant MFI Partner in respect of the repayment of that Loan, as converted into $AUD by WEAL.

“Tax” means any taxes, levies, imposts, deductions, charges and withholdings assessed, imposed, collected or withheld under any legislation and, in each case, all interest, fines, penalties, charges, fees or other amounts in respect of them.

“User” means a user of the Website, regardless of whether or not that user is or becomes a Lender.

“WEAL” means World Education Australia Limited (ABN 39 106 279 225), an Australian public company limited by guarantee and registered under the Australian Corporations Act, with charitable (PBI) and DGR status.

“WEAORF” means World Education Australia Overseas Relief Fund, being a fund to provide resources for economic and social development programs to improve the lives of the poor in the Asia Pacific region.

“Website” means www.goodreturn.org, www.goodreturn.org.au, and any other “Good Return” domain names that point to either of those websites, being a tool of the Good Return Program to allow the Australian public to provide funding to Applicants who are uploaded to the Website.

“You” means the person who has accepted these Terms and Conditions.

5.3 Interpretation

In these Terms and Conditions:

(a) headings are for convenience only and do not affect interpretation;

and unless the context indicates a contrary intention:

(b) if You are identified (via the Website) as more than one person , “You” refers to all of the persons so identified, and Your obligations under the Agreement bind each of you, jointly and severally;

(c) “person” includes an individual, the estate of an individual, a corporation, a government authority of any jurisdiction, an association or a trust;

(d) a reference to a document (including the Agreement) is to that document as varied, novated, ratified, replaced or restated from time to time;

(e) a reference to a law includes any law, principle of equity, statute or official directive of any government authority of any jurisdiction;

(f) a word importing the singular includes the plural (and vice versa) and a word indicating a gender includes every other gender;

(g) a reference to a party, clause or schedule is a reference to a party, clause or schedule to or of these Terms and Conditions;

(h) if a word or phrase is given a defined meaning, any other part of speech or grammatical form of that word or phrase has a corresponding meaning; and

(i) “includes” in any form is not a word of limitation.

5.4 Confidentiality/Privacy

(a) WEAL is under no obligation to provide You with any details in relation to any Applicant (including Your Loan Applicant), beyond what is available on the Website, and may be prohibited from doing so.

(b) WEAL will not disclose to any MFI Partner, the Loan Applicant or any Applicant Your address or contact details without Your prior permission.

(c) In order to protect the privacy of the Loan Applicant, You agree not to contact or attempt to contact the Loan Applicant (or any other Applicant) directly. WEAL may provide a means for communications to be sent between parties on the Website in a manner that protects each party’s right to confidentiality.

(d) If You have indicated, via the Website, that You agree to WEAL doing so (whether on this or any other visit to the Website), WEAL may use details provided by You for WEAL’s own marketing purposes and You hereby authorise WEAL to do so.

5.5 Website Content

(a) WEAL reserves all intellectual property and moral rights that may exist in relation to the Website from time to time.

(b) All of the Content is owned by WEAL, its subsidiaries, affiliates or content providers.

(c) WEAL reserves the right to alter the Website from time to time in its absolute and unfettered discretion.

(d) If you submit Content to the Website (such as photos and personal information) at any time, You agree that WEAL may use and distribute such Content for such purposes as WEAL thinks fit.

(e) WEAL will review content on the Website regularly and has the right to remove any content for any reason (including that it is, in WEAL’s opinion, offensive or inappropriate).

5.6 Disclaimer

(a) The Content on this Website (including any graphics, software or other materials) and any content made available through this Website are provided “as is” and without warranties of any kind, either express or implied. To the fullest extent permissible pursuant to applicable law, WEAL disclaims all warranties, express or implied, including, all implied warranties of merchantability, fitness for a particular purpose, title and non-infringement. WEAL does not warrant or make any representations regarding the use or the results of the use of the Content in this Website in terms of its correctness, accuracy, reliability, or otherwise. You assume total responsibility and risk for Your use of this Website and site-related services.

(b) Certain links in this Website may provide access to other sites on the worldwide web. The linked sites may not be under the control of WEAL and WEAL is in any event not responsible for the contents of any linked site or any link contained in a linked site, or any changes or updates to such sites.

(c) WEAL is not responsible for webcasting or any other form of transmission received from any linked site.

(d) WEAL is providing these links to You only as a convenience, and the inclusion of any link does not imply a referral by WEAL to, or an endorsement by WEAL of, the linked site or any products or services which may be offered there.

(e) WEAL makes no representation or warranty, express or implied, with respect to any third party data provided to WEAL or its transmission, timeliness, accuracy or completeness, including but not limited to implied warranties or warranties of merchantability or fitness for a particular purpose.

(f) WEAL will not be liable in any way to You or to any other person for any inaccuracy, error or delay in or omission of any third party data or the transmission or delivery of any such third party data and any loss or damage arising from :

(i) any such inaccuracy, error, delay or omission;

(ii) non performance; or

(iii) interruption in any such third party data due either to any negligent act or omission by WEAL or force majeure or any other cause beyond the control of WEAL.

5.7 Disputes

(a) (Governing Law): Any dispute between You and WEAL will be governed and interpreted in accordance with the laws of New South Wales.

(b) (Governing Jurisdiction):

(i) Each party irrevocably submits to the non-exclusive jurisdiction of the courts of New South Wales, and to the courts competent to determine appeals from those courts (“New South Wales Courts”), with respect to any proceedings that may be brought at any time relating to the Agreement or these Terms and Conditions.

(ii) Each party irrevocably waives any objection it may now or in the future have to the venue of any proceedings being the New South Wales Courts, and any claim it may now or in the future have that any proceedings have been brought in an inconvenient forum, if the proceedings are brought in the New South Wales Courts.

(c) (MFI Partners): WEAL is solely responsible for interactions with its MFI Partners and any disputes that may arise with any of its MFI Partners.

5.8 Representations and Warranties by WEAL

WEAL represents and warrants to You that:

(a) it is a corporation limited by guarantee and formed under the Australian Corporations Act; and

(b) it is empowered to enter into the Agreement.

5.9 Limitation of Liability

(a) You acknowledge that WEAL does not always verify the accuracy of information from MFI Partners, other Users, other Lenders or Donors or Loan Applicants.

(b) WEAL shall not have any responsibility, obligation or liability for:

(i) decisions or interactions resulting (directly or indirectly) from participation in the Good Return Program; or

(ii) any damages, costs, losses or expenses You incur as a result (directly or indirectly) of making a Loan or Donation to a Loan Applicant or as a result (directly or indirectly) of participating in or utilising the Good Return Program or information received in connection with the Good Return Program.

5.10 Indemnity

You agree to indemnify WEAL against any loss, liability, actions, claims or demands, including legal fees, made or incurred by any third party due to or arising (directly or indirectly) out of your use of the Website, participation in the Good Return Program, or breach of the Agreement.

5.11 Severability

If at any time any provision of these Terms and Conditions is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction that will not affect or impair the legality, validity or enforceability of any other provision of these Terms and Conditions.

5.12 Amendment

These Terms and Conditions and the Agreement may be modified by WEAL in its sole discretion from time to time and such modifications will become part of these Terms and Conditions and the Agreement and will be effective once posted by WEAL on the Website.

5.13 No Assignment

You may not assign or transfer Your rights or obligations under these Terms and Conditions or the Agreement to any other person.

5.14 Waiver

WEAL shall not be taken to have waived Your performance with these Terms and Conditions or the Agreement unless such waiver is given by WEAL in writing.

Top


» Privacy Policy

Privacy Policy

Privacy Policy

Introduction

World Education Australia Limited (“World Education Australia”, ‘we’, ‘our’, ‘us’) is committed to the protection of personal information in accordance with the Privacy Act 1988 (Cwth) as amended by the Privacy Amendment (Enhancing Privacy Protection) Act 2012 (Cwth) (‘Privacy Acts’).

This Privacy Policy outlines how we collect, store, use and manage your personal information. “Personal information” means information or an opinion recorded about an individual that makes the individual’s identity reasonably apparent or ascertainable. This Privacy Policy does not seek to replace or limit the requirements of the Privacy Acts.

View our full Privacy Policy on GR Website 15 July 2017[final] (PDF, opens in another window)


» Child Protection Policy

Child Protection Policy

World Education Australia Ltd trading as Good Return consider the safety and well-being of children to be a priority concern. We have a zero tolerance approach to child abuse and exploitation and child pornography, including trafficking and other forms of exploitation, wherever and however they may occur in the context of our activities.

All children, without exception, will be treated with appropriate respect and with recognition of their fundamental right to grow up safely and enjoy a childhood that is free from exploitation and abuse. In all of our work, we sustain a focus on the rights of children that is in line with the UNHCR’s Convention of the Rights of the Child, which in addition to the Child Protection Policy set forth by DFAT Australian Aid, serves to guide our policy on child protection.

Due to the adult-focus of our programs, our staff are rarely directly involved in dealing with children. However, many of the people our partners work with are poor families with children. It is therefore appropriate for our staff to adhere strictly to this policy.

View our full Child Protection Policy (PDF, opens in another window)

Top


» Complaints Resolution & Whistleblowing policy

Complaints Resolution & Whistleblowing Policy

Please note that all complaints, questions or comments will in the first instance be actioned by a Good Return team member as soon as possible.

If this is not appropriate, or you are unsatisfied with their answer, please call us on (02) 9114 8111 within business hours (10 am to 5 pm) Monday to Friday. Upon request, you can ask to speak to one of our senior executives, either the Operations Director, Marketing Director, or Risk Manager. That manager will make sure your concern is addressed in an appropriate , discreet and confidential manner. You can be assured that every effort will be made to find a satisfactory resolution to your complaint.

We are a signatory to the Australian Council for International Development (ACFID) Code of Conduct. Details of the provisions of the Code can be viewed at the ACFID website. In the event that your issue entails a potential breach of the Code, you have the option of escalating it to the ACFID Code of Conduct Committee. Their contact details are in their website under the Complaints tab.

View our full Complaints Resolution & Whistleblowing Policy 31 Jan 2015(PDF, opens in another window)

Top

» ASIC Identification Statement

Identity of Charity – RG 87.35 (a)

WEAL is a public company limited by guarantee, and a registered charity. Good Return is the registered business name used for WEAL’s operating activities. ‘Good Return’ in this document refers interchangeably to WEAL and reference to one shall include the other.  Our founding member is World Education Inc, a Boston-based charity that for more than sixty years has worked around the globe to improve the quality of life through education.  While we share a name, all activities are conducted  separately, and at arm’s length.

Our vision is: A world without poverty where people have access to resources and opportunities to improve their lives. Critical to such progress are that people have the skills needed to earn an income, and access to the basic financial services to sustain and strengthen livelihoods. Our core purpose is to enrich human potential.

In accordance with our  vision and purpose, we have this mission: To enable those living in poverty to achieve economic empowerment through responsible financial inclusion and capability development.  We achieve these goals by building the capacity of local partner agencies to deliver responsible microfinance and training services, and by encouraging sustainable local leadership and capability.

To realise effective results and outcomes in the face of inevitable resource constraints, we maintain a tight geographic and programmatic focus. We work in the Asia Pacific region where 60% of the world’s poor live. We select countries based on a combination of factors, such as poverty levels, strategic opportunity, funder interest, logistics and security.  We seek to boost economic empowerment for the poor through four key programs:

Responsible Inclusive Finance

Good Return works with our partners to put clients at the centre of their operations. We begin by agreeing a plan for the institution’s social and financial performance. In this, their management team commits to strengthen consumer protection practices, create a positive customer experience, and track their impact on reducing client poverty levels.

Financial Capability & Consumer Empowerment

Our approach recognises the importance of consumer behaviour in improving the delivery of financial services. We execute this primarily through our CAFE (Consumer Awareness & Financial Empowerment) initiative, engaging with national level microfinance associations to extend our reach and impact.

Strengthening agri practice

The poorest overwhelmingly depend on agriculture for their livelihoods.  In Indonesian Borneo our innovative Farmer Field School program teaches smallholder farmers new techniques for soil and pest management, use of organic fertiliser, and how to optimise yields. This work is underpinned by a strong awareness of environmental sustainability.

Good Return Loans

The Good Return ‘Loan program’ is the subject of this Identification Statement .

Financial services play a key role in poverty alleviation.  However, lending money to people without knowledge of how to manage debt may cause harm. Similarly, gaining new skills, but lacking access to capital can rob aspiring entrepreneurs of the chance to achieve their dreams.

Our online loan platform enables our financial service partners to access interest free capital, that in turn allows them to expand their pro-poor offering. The Loan program  is our key engagement link with Good Return’s general public support base in Australia.

 

 

Details of Incorporation – RG 37.35 (b) & (c)

 

Name                                          WORLD EDUCATION AUSTRALIA LIMITED

ACN                                            106 279 225

ABN                                             39 106 279 225

Type                                            Australian Public Company, Limited By Guarantee

Registration Date                        10/09/2003

Next Review Date                       10/09/2013 see note

Status                                          Registered

Locality of Registered Office      Crows Nest NSW 2065

Jurisdiction                                  Australian Securities & Investments Commission  

Note:   As per ASIC register. Currently most WEAL reporting obligations are to ACNC.

 

Name                                          WORLD EDUCATION AUSTRALIA

Registration No                           NSW BN98140078

ABN                                             39 106 279 225

Type                                            Business Name

Registration Date                        16/05/2005

Next Review Date                       16/05/2017

Status                                          Registered

Locality of Registered Office      Crows Nest NSW 2065

Jurisdiction                                  Office of Fair Trading, New South Wales

 

Name                                          GOOD RETURN

Registration No                           NSW BN98385781

ABN                                             39 106 279 225

Type                                            Business Name

Registration Date                        17/09/2008

Next Review Date                       17/09/2017

Status                                          Registered

Locality of Registered Office      Crows Nest NSW 2065

Jurisdiction                                  Office of Fair Trading, New South Wales

 

Name                                          World Education Australia Limited

Registration No                           18447

ABN                                             39 106 279 225

Type                                            Charitable Fundraising Authority

Registration Date                        30/08/2007

Next Review Date                       11/09/2017

Status                                          Registered

Locality of Registered Office      Crows Nest NSW 2065

Jurisdiction                                  NSW Trade & Investment, Office of Liquor, Gaming & Racing

Note: WEAL is similarly registered in Victoria, Queensland, South Australia and Western Australia.

 

WEAL:

 

 

Brief Description of the Scheme – RG 37.35 (e)

Good Return partners with individual MFIs to provide them with interest free capital, to support pro-poor lending, and to give them access to technical assistance in our areas of competency.

 

Good Return operates an online loan website that allows members of the Australian public (‘Lenders’) to help improve the lives of those in the Asia-Pacific region who live in poverty. This Loan program facilitates Lenders to make interest-free loans (‘Lender loans’) to Good Return. Good Return on-lends the funds  (‘MFI loans’) to selected financial service providers (microfinance institution or ‘MFIs’). These MFIs then use this liquidity to finance microloans (‘Borrower loans’) to their clients (‘Borrowers’).   When the MFI loans are fully repaid, funds flow back from the MFIs to Good Return, who returns them to original Lenders.

 

Type of scheme assets – RG 87.36 (a)

Good Return facilitates the flow of unsecured Lender loans from the Australian public to a small number of selected MFIs. It is important to note that Good Return has no financial interest in these MFIs. These MFI loans reliquefy the MFIs’ balance sheets, and support their advances to individual and small business borrowers typically seeking to improve their enterprises. In some cases, loans are used to meet family, housing, medical and education outgoings.

 

Borrower loan terms, such as tenor and repayment frequency, are determined by the MFI to meet the needs of their Borrowers. Members of the public can browse the website and select an individual from a list of borrowers whose profile has been prepared and uploaded to the portal by the MFI. Regular visits by Good Return staff review the accuracy of this information.

 

Since its inception in mid 2009, the Loan program has funded some 9,700 Borrower loans, to a total value of approx $3 million.  As of February 2017 the scheme’s assets are a portfolio of unsecured, interest free MFI loans (currently standing at approx $150,000), of up to 1 year term, advanced to a small number (currently 4) MFIs in SE Asia and the Pacific region.

 

Below summarises the process of MFI and Borrower loans, and their eventual return to Lenders:

  • Lender makes a decision to fund a loan request using their credit card or PayPal account.
  • A loan request is completed when funds raised fulfil its entire amount, or it has been on the portal for 30 days. If a loan is only partially funded after 30 days, its amount is reduced to the sum raised.
  • Loan requests can be fulfilled by multiple Lenders. For example, a loan of $200 could be funded by three Lender loans of $25, one of $50, and one of $75.
  • Funds received are held in the Good Return bank account.
  • Every 6 weeks, Good Return aggregates funds collected by it and transfers the money as MFI loans. At the same time, Good Return reconciles repayments of the underlying Borrower Loans over the same period.
  • The totals of Borrower loan repayments and the new Lender loans are netted off, and the net amount is either repaid to Good Return (repayments exceed new loans) or remitted to the MFI (new loans exceed repayments) by telegraphic transfer.
  • Good Return returns funds to Lenders whose loans have been fully repaid.
  • Good Return retains part repayments in its own account until the final instalment is received.

 

MFIs treat Borrowers who feature on the Good Return website in exactly the same manner that they treat all other clients. They collect interest on the Borrower loans, and other fees and charges. While these charges are monitored by Good Return for reasonableness, Good Return is not responsible for setting them.

 

The following conditions apply to each Lender loan:

  • A transaction fee of 10% of the total amount (minimum of $5 and maximum of $25) is payable by the Lender. This fee covers the operating expenses of the Good Return project.
  • Loans can be made in multiples of $25, with a minimum loan size of $25.
  • No interest is payable to the Lender.
  • Lender loan term matches the Borrower loan term set by the MFI, generally 6 or 12 months.
  • The risk of default on loan principal payments rests with the Lender, not Good Return.
  • Lender loans are in AUD; MFI loans are in local currency. Lenders absorb foreign exchange risk.
  • Information relating to the Borrower’s repayment history is posted on the website.

 

For more information on Lender loans the terms and conditions see Schedule 1.

 

Borrowers are clients of established MFIs. To become a MFI partner the institution must undergo a due diligence assessment and meet a set of pre-defined conditions.  The following table outlines the list of conditions and source(s) of evidence that may be used to verify the MFI meets the conditions. MFI s must meet each of these conditions to become a Good Return partner.

 

Conditions Evidenced In:
Have an intention to increase and improve its provision of services to poor clients Mission statement

Business plan

Application form

Have the legal ability to take on debt from a foreign entity (in local currency) Letter or copy of policy issued by central bank
Must be registered entities and authorised under their local regulations to undertake lending activities Copies of the certificate of registration and any licences required
Have transparent  financial disclosure policies. Must appear on Microfinance Information Exchange (MIX).  Must publish annual reports, or post to a website or other public space.

Note 1:  MIX www.mixmarket.org is a global, web-based, microfinance information platform.  It provides data on MFIs to public and private investors in microfinance, and to ratings  and regulatory agencies.

Note 2: preference is be given to MFIs that display financial and institutional information on the MIX

Have good repayment performance, represented by Portfolio At Risk  (30 days) less than 5% Soft copy or scanned copy of original delinquency report, specifying portfolio at risk for greater than 30 days
Undertake to collect and upload (say) 10 new loan applications per month. Portfolio report by month – minimum 20 new loans disbursed per month at present

Application form – commitment to upload clients

Business plan

Undertake and have the capacity to submit a photo and client description in English with each loan application. Application form provided to Good Return completed in English

Personal communication indicating they have access to a personal computer, digital camera and internet access (in some instances, we may provide a camera if needed)

Consent to Good Return representatives to complete regular monitoring visits of the organisation and its Borrowers. Application form
Be a separate legal entity. Certificate / letter indicating registration of organisation
Have at least one set of audited financial statements within the past 2 years Certified copy of the audited financial statements
Have at least 3 staff and 500 active loan Borrowers Organisational chart

Portfolio summary report

Not be in default on any existing or past external borrowings Reference checks on any institutional creditors listed in Application Form

 

 

 

 

Location of the scheme assets – RG 87.36 (b)

Good Return currently operates its loan program in Cambodia, Philippines, Fiji, and Tonga.

Accordingly, the MFI loan assets of Good Return are represented by advances to MFIs domiciled in those countries.   Our current partners are:

 

LOLC, Cambodia   was established in 1994. It has a vision of providing the poor with the opportunity to transform the lives of their families and communities. LOLC now serves 180,000 clients through 51 branches.

 

SECDEP Philippines  (SECDEP) is based in Iloilo City. Good Return helps SECDEP deliver financial education and business training to its clients, and also finance for sustainable energy products, such as home solar power systems and fuel efficient cook stoves.

 

South Pacific Business Development (SPBD) Tonga and Fiji  are part of a network of MFIs in Fiji, Samoa, Tonga, and the Solomon Islands. They are committed to eradicating poverty by giving rural women the opportunity to start and grow sustainable enterprises.

 

Compliance with the conditions attached to [CO 02/184]: RG 87.36 (c)

Good Return will comply with the numbered conditions contained in ASIC Corporations (Charitable Investment Fundraising) Instrument 2016/813 as follows:

 

  1. Good Return has lodged this identification statement with ASIC.
  2. Good Return will ensure that the Good Return scheme contains the information required by the above instrument. Schedule 1 attached is the Terms & Conditions of the scheme.
  3. Good Return has made no reference in any promotion material or offer document that the Good Return scheme has been examined by ASIC, and will not make any such future references.
  4. When (and if) Good Return becomes aware that any of the material in this identification statement is false or misleading, or that it has made some material omission, Good Return will lodge a further statement or identification statements as soon as practicable after discovery.
  5. Good Return lodges with ACNC an annual statement of the accounts kept in relation to the scheme and an auditor’s report on those accounts.

 

Purpose of Good Return – RG 37.35 (e)

There has been significant progress in reducing poverty over the past decade. The first Millennium Development Goal target, to cut the 1990 poverty rate in half by 2015, was achieved in 2010. Despite this progress, the number living in extreme poverty remains unacceptably high. In 2011, over 1 bn people still lived on less than $1.25 a day, down from 1.9 bn in 1990. Progress has been slower at the higher $2 a day poverty line in developing countries. In 2011, 2.2 bn people lived on less than this, slightly down from 2.6 bn in 1981.

 

Microfinance is one of the most effective development tools available in addressing the lack of access to financial services and in reducing levels of poverty, for the simple reason that financial services, specifically when combined with education and training, enable poor and low-income households to take advantage of economic opportunities, to build assets, and to reduce their vulnerability to external shocks that adversely affect their living standards.

 

Guarantees and Promises: RG 37.35 (f)

Good Return guarantees and promises to each Lender in the scheme that  all loan repayments received by Good Return will be returned to the Lender.

The Lender bears the risk of adverse currency exchange movements,  Borrower default, or MFI default.

 

 

SCHEDULE  1            GOOD RETURN PROGRAM – TERMS AND CONDITIONS

 

The following terms and conditions govern your use of and access to the Website. By accessing or using the Website, you implicitly agree to accept whatever part or parts of these terms and conditions is/are applicable to the transaction(s) that you wish to complete with World Education Australia Ltd (WEAL), and no variation(s) will be permitted except with our written agreement.  We refer interchangeably in these terms and conditions to “WEAL” and “Good Return”, and reference to one shall include the other.

 

PART 1 – IF YOU HAVE DECIDED TO DONATE

We endeavour to direct the funds You donate, whether regular or otherwise, to Your chosen programs. However, circumstances beyond our control may dictate that we should utilise Your funds in areas of greater need, and we therefore reserve the right to re-direct Your funds to a program(s) where such a greater need exists as appropriate, without having to notify You in advance.

 

PART 2 – IF YOU HAVE DECIDED TO FUND A LOAN APPLICANT BY WAY OF A LOAN

2.1 Introduction

This Part 2 of the Terms and Conditions applies if You have elected, via the Website, to provide funding to a Loan Applicant by way of a Loan. If You have elected to make more than one Loan during Your visit to our Website, this Agreement will apply to each of those Loans.

2.2 The Loan

(a) You have elected, via the Website, to make one or more Loans.

(b) A Loan may be made either directly by You (where You choose Your Loan Applicant) or by purchasing a Gift Certificate for a Loan (where You give the Gift Certificate to somebody else, such as a friend or relative, and they (as the Beneficiary of the Gift Certificate) choose the Loan Applicant.

(c) You will pay the amount of each Loan to WEAL in $AUD. Details of how You can make this payment are provided in clause 2.4 below.

(d) You wish the amount of each Loan to be provided to the Loan Applicant that you have selected for that Loan. In order to achieve this, WEAL will disburse the amount of the Loan to an MFI Partner. The MFI Partner is an organisation operating within the country in which Your Loan Applicant lives, appointed by WEAL to assist in the funding of poor and low-income persons. When the MFI Partner receives the proceeds of Your Loan from WEAL, the MFI Partner will provide the amount of the Loan to the Loan Applicant that You selected for that Loan (in the Relevant Foreign Currency).

(e) WEAL regularly changes the Applicants featured on the Website and may withdraw or remove an Applicant from the Website at any time and for any reason.

(f) If WEAL does not raise the full amount of funding advertised for Your Loan Applicant on the Website, it will still use Your Loan to partly fund Your Loan Applicant.

2.3 Administration Fee

You will pay the Administration Fee to WEAL in $AUD when You make a Loan. Details of how You may pay the Administration Fee are provided in clause 1.4 below. This Administration Fee covers WEAL’s operational costs as well as its obligation to pay GST to the Australian Government.

2.4 Payments

You may make payments to WEAL in accordance with the Website using either Visa, MasterCard or Your PayPal account.

2.5 Foreign Exchange Risk

(a) Your Loan to WEAL is in $AUD.

(b) The funds that WEAL disburses to its relevant MFI Partner (for provision to the Loan Applicant) will be provided to that MFI Partner in Relevant Foreign Currency.

(c) Loans made by an MFI Partner to Your Loan Applicant (using the proceeds of Your Loan) will be repayable by Your Loan Applicant in Relevant Foreign Currency to the MFI Partner, and the MFI Partner has undertaken to remit all such payments to WEAL in Relevant Foreign Currency.

(d) When WEAL receives moneys in respect of the repayment of Your Loan from an MFI Partner in Relevant Foreign Currency, WEAL will convert those moneys into $AUD (in accordance with a published exchange rate) before remitting them to You in $AUD.

(e) Currency losses: You assume all currency exchange risk associated with the Loan, including the risk of depreciation of the Relevant Foreign Currency against the $AUD.

(f) Currency gains: Conversely, You will be entitled to the benefit of any appreciation of the Relevant Foreign Currency as against the $AUD.

(g) The amount of the Loan according to the Website is calculated by WEAL using a formula based on a published daily exchange rate, and may be slightly higher in $AUD than the actual amount of funding requested by Your Loan Applicant in order to protect WEAL from foreign exchange fluctuations whilst the Loan is being sought and funded.

(h) Surplus funds collected by WEAL as a result of clause 2.5(g) will be held by WEAL until the end of the Loan and then returned to You. WEAL may retain any interest or other benefits earned as a result of it holding or depositing such funds prior to their return to You.

(i) Where a Loan Applicant is funded via more than one Loan from multiple Lenders, any gain or loss arising as a result of converting disbursed funds from $AUD into the Relevant Foreign Currency or as a result of converting repaid funds from the Relevant Foreign Currency into $AUD, will be proportionally divided amongst all Lenders that provided loans to that Loan Applicant.

2.6 Disbursal of Loan Funds to the Loan Applicant (via an MFI Partner)

(a) WEAL will aggregate loans received from Lenders and (subject to clause 1.5(g)) will disburse such funds periodically (usually monthly) to the relevant MFI Partner in Relevant Foreign Currency. The funds received from the Lenders for a Loan may not actually be remitted (in whole or in part) to the MFI Partner but may instead be offset against any repayments due from that MFI Partner during the relevant period.

(b) WEAL reserves the right to adjust the size of a Loan at any time. For example, this need may arise as a result of insufficient funds being raised on the Website or negative currency movements that have occurred since the Loan was first listed on the Website.

(c) An MFI Partner may have disbursed funding to the Loan Applicant prior to the Loan being provided by You. In this situation the MFI Partner may use the proceeds of Your Loan to refinance the existing funding provided by it. WEAL is not obliged to inform You if this occurs.

(d) The MFI Partners are responsible for the screening of Applicants before submitting their details to WEAL. WEAL uses a rigorous selection process to identify and select its MFI Partners and will conduct periodic monitoring of its MFI Partners, but WEAL accepts no responsibility for the genuineness of any Applicants (including Your Loan Applicant), or for the adequacy or accuracy of any information provided from any source in relation to any Applicants (such as Your Loan Applicant).

(e) The MFI Partners have agreed to use reasonable endeavours to ensure that the proceeds of loans provided to them by WEAL and funded via the Good Return Program are used by the relevant Loan Applicant(s) for the purpose(s) notified to WEAL and displayed on the Website. WEAL will make every effort to ensure that Your Loan is used for its intended purpose (as displayed on the Website) but cannot guarantee that the proceeds of Your Loan are used for any particular purpose.

(f) WEAL may retain any interest or other benefits earned as a result of it holding or depositing funds received from You prior to the next scheduled transfer of such funds to the relevant MFI Partner.

2.7 Loan Repayment

(a) Subject to paragraph (c) below, if WEAL receives (from the relevant MFI Partner) an amount in respect of the repayment of Your Loan, WEAL will notify You by email (via the email address You supplied at the time of making the relevant Loan) and advise You:

(i) that the Loan has been finalised;

(ii) of any currency loss or gain;

(iii) of any Loan loss (i.e. if any amount of the Loan has not been repaid in full); and

(iv) that You should decide whether You wish to re-lend, donate or withdraw the funds.

All Loan repayments will be made by PayPal to the email address that You notified to WEAL when You made the Loan via the Website. (“Your Email Address”). Your Email Address should be linked to a PayPal account. If Your Email Address is not linked to a PayPal account when WEAL wishes to remit the Repayment Amount to You, we will ask You to either create a new PayPal account linked to Your Email Address, or link Your Email Address to an existing PayPal account, prior to WEAL being able to transfer the Repayment Amount to You.

If “Your Email Address” is not valid, current or functioning WEAL will incur no further obligation to notify you that the Loan has been repaid.

Once WEAL transfers the Repayment Amount to Your Email Address in accordance with this paragraph, it will have no further payment obligations in respect of that Loan.

(b) WEAL will post details of repayment of the Loan on the Website. These details will also be available by email if You elect (via the Website) to receive email notifications.

(c) You will ordinarily not receive any Loan repayments until the end of the term of the Loan (the term of the Loan is displayed on the Website). Notwithstanding this, WEAL reserves the right to make repayments of Your Loan earlier than this and WEAL will incur no cost, charge, penalty or liability for doing so.

(d) Repayments are limited to the principal Loan amount. You will not receive interest, or any other return or benefit, in respect of the Loan (other than potential currency gains referred to in clause 2.5(f) above).

(e) If WEAL notifies You in accordance with paragraph (a) above that Your Loan has been finalised but You do not claim the Repayment Amount within 12 months of such notification (or if the email account you provided to Good Return is not valid, current or functioning or You do not link Your Email Address to a PayPal account within 12 months of WEAL requesting You to do so), the unclaimed Repayment Amount may be retained by WEAL and treated by WEAL as a Donation to improve the lives of the poor in the Asia Pacific region.

(f) The MFI Partners have agreed to use reasonable endeavours to collect principal repayments of loans sourced from Lenders and provided to Applicants. The MFI Partners have also agreed to use their existing collection processes for collecting loan repayments from Applicants. WEAL will not be responsible for any losses, issues or inefficiencies in relation to the collection of loan instalments from Your Loan Applicant or from any other Applicant.

(g) WEAL does not guarantee that You will receive any Repayment Amount.

(h) WEAL will attempt to provide accurate information on the repayment performance of Applicants such as Your Loan Applicants and this may be published on the Website. However, You should not rely upon the validity of this information as an estimate of the likelihood of the repayment of Your Loan.

(i) WEAL may retain any interest or other benefits earned as a result of it holding or depositing funds received by an MFI Partner prior to the disbursement of such funds to You.

(j) Where a Loan is made by the purchase of a Gift Certificate, WEAL will make repayments to the Beneficiary in accordance with (a)-(i) above, and paragraphs (a) – (j) above shall apply as if each reference to “You” was a reference to the Beneficiary as well.

2.8 Default Risk

(a) You acknowledge that all Applicants, including Your Loan Applicant, are considered risky by traditional lenders due to various factors including, but not limited to:

(i) lack of credit history;

(ii) individual or geographical financial instability; and

(iii) absence of security for financial accommodation.

(b) You acknowledge and agree that there is no undertaking or guarantee that the Loan will be repaid. You assume all liability and loss if all or any part of the Loan is not repaid either by Your Loan Applicant or by the MFI partner responsible for disbursing the loan to the Loan Applicant.

2.9 Loan Losses

(a) Any Loan losses remain Your responsibility.

(b) If a Loan Applicant is funded via more than one Loan from multiple Lenders, any Loan losses will be proportionally divided amongst those Lenders.

2.10 Tax deductibility

You acknowledge and agree that:

(a) WEAL is a registered Australian charity with PBI and DGR status and operates the WEAORF which has DGR status.

(b) Lenders have a choice of funding a Loan Applicant either through a Donation or a Loan. The tax treatment of each may differ.

(c) You are solely responsible for determining the proper tax treatment of Your Loan and any resulting profits or losses. WEAL has not and will not provide any tax or legal advice to You in connection with any Loan .

2.11 MFI Partners

(a) WEAL does not guarantee its MFI Partners and will not be liable for any default, malfeasance or negligence of an MFI Partner.

(b) An MFI Partner may charge interest or fees to its clients (including Your Loan Applicant) to cover the MFI Partner’s administration and management expenses and in order to ensure a sustainable service provision to the MFI Partner’s clients (including Your Loan Applicant). You are not entitled to any such interest or fees charged by any MFI Partner.

2.12 Representations and Warranties by You

You represent and warrant to WEAL that:

(a) You are empowered to enter into the Agreement;

(b) Your entry into the Agreement does not breach any law of any jurisdiction;

(c) You have the full and complete right, power and authority to submit to the Website any text, graphics, photographs, images, moving images, sound, illustrations and software that You submit to the Website from time to time, and by doing so you will not be breaching any law, contractual obligation or intellectual property right of any person;

(d) You understand the risks inherent in entering into the Agreement, including the currency exchange and payment default risks referred to on the Website, and you have, to the extent necessary, obtained appropriate legal and/or commercial advice in relation to those risks; and

(e) You have not entered into the Agreement in reliance on or as a result of any advice, representation, promise, statement, conduct or inducement by or on behalf of WEAL (or any of its employees or representatives) otherwise than as expressly embodied in these Terms.

2.13 Cancelling decision to make a loan or a donation

Loan;  If you have completed the process of making a loan but later change your mind, you must advise Good Return within 7 days if you wish to cancel the transaction.

In that case, you should contact Good Return at [email protected] and provide full details (date, borrower, amount) of the loan(s) that you wish to cancel. We need this information so that we can reimburse your Good Return PayPal account with the amount of the loan(s). You can thereafter withdraw the funds at your discretion. We will not reimburse any Administration Fee that was charged at the time you made the loan.

Loan donation or a donation:  If you have completed the process of making loan donation or donation but later change your mind, we regret that it is not possible for Good Return to reverse the transaction. This is because you will have already received an automatically generated tax receipt for your donation, which cannot be cancelled.

 

PART 3 – IF YOU HAVE DECIDED TO FUND A LOAN APPLICANT BY WAY OF A DONATION

3.1 Introduction

This Part 3 of the Terms and Conditions applies if You have elected, via the Website, to provide funding to a Loan Applicant by way of a Donation. If You have elected to make more than one Donation during Your visit to our Website, this Agreement will apply to each of those Donations.

3.2 The Donation

(a) You have elected, via the Website, to make one or more Donations.

(b) A Donation may be made either directly by You (where You choose Your Loan Applicant) or by purchasing a Gift Certificate for a Donation (where You give the Gift Certificate to somebody else, such as a friend or relative, and they (as the Beneficiary of the Gift Certificate) choose the Loan Applicant).

(c) You will pay the amount of each Donation to WEAL in $AUD. Details of how You can make this payment are provided in clause 3.3 below.

(d) You wish the amount of each Donation to be provided to the Loan Applicant that you have selected for that Donation. In order to achieve this, WEAL will disburse the amount of the Donation to an MFI Partner. The MFI Partner is an organisation operating within the country in which Your Loan Applicant lives, appointed by WEAL to assist in the funding of poor and low-income persons. When the MFI Partner receives the proceeds of Your Donation from WEAL, the MFI Partner will provide the amount of the Donation to the Loan Applicant that You selected for that Donation (in the Relevant Foreign Currency).

(e) WEAL may lend the proceeds of Your Donation to an MFI Partner (for on-lending to Your Loan Applicant). If WEAL does so, and WEAL subsequently receives a repayment or return of those funds, WEAL may then apply those moneys so repaid or returned towards improving the lives of the poor in the Asia Pacific region.

(f) WEAL regularly changes the Applicants featured on the Website and may withdraw or remove an Applicant from the Website at any time and for any reason.

(g) If WEAL does not raise the full amount of funding advertised for Your Loan Applicant on the Website, it will still use Your Donation to partly fund Your Loan Applicant.

(h) Each Donation is made, essentially, by way of gift and is not returnable, refundable or repayable by WEAL.

(i) WEAL may apply a portion of Your Donation to cover its operational costs, and/or to protect WEAL against currency fluctuations whilst the Donation is being sought and funded.

(j) Donations to fund Loan Applicants who reside within Australia are made to WEAL. Donations to fund Loan Applicants who reside outside of Australia are made to WEAORF. All references to WEAL in this Part 2 shall be construed to include a reference to WEAORF in the case of Donations to fund Loan Applicants who reside outside of Australia.

3.3 Payments

You may make payments to WEAL in accordance with the Website using either Visa, MasterCard or Your PayPal account.

3.4 Disbursal of Donations to the Loan Applicant (via an MFI Partner)

(a) WEAL will aggregate Donations received from Donors and will disburse such funds periodically to the relevant MFI Partner in Relevant Foreign Currency. The funds received from the Donors for a Loan may not actually be remitted (in whole or in part) to the MFI Partner but may instead be offset against any repayments due from that MFI Partner during the relevant period.

(b) WEAL reserves the right to adjust the size of a Donation at any time. For example, this need may arise as a result of insufficient funds being raised on the Website or negative currency movements that have occurred since the Donation was first listed on the Website.

(c) An MFI Partner may have disbursed funding to the Loan Applicant prior to the Donation being provided by You. In this situation the MFI Partner may use the proceeds of Your Donation to refinance the existing funding provided by it. WEAL is not obliged to inform You if this occurs.

(d) The MFI Partners are responsible for the screening of Applicants before submitting their details to WEAL. WEAL will select MFI Partners with care and will conduct periodic monitoring of its MFI Partners, but WEAL accepts no responsibility for the genuineness of any Applicants (including Your Loan Applicant), or for the adequacy or accuracy of any information provided from any source in relation to any Applicants (such as Your Loan Applicant).

(e) The MFI Partners have agreed to use reasonable endeavours to ensure that the proceeds of donations provided to them by WEAL and raised via the Website are used by the relevant Loan Applicant(s) for the purpose(s) notified to WEAL and displayed on the Website. WEAL is under no obligation to ensure that the proceeds of Your Donation are used for any particular purpose.

(f) WEAL may retain any interest or other benefits earned as a result of it holding or depositing funds received from You prior to the next scheduled transfer of such funds to the relevant MFI Partner.

3.5 MFI Partners

WEAL does not guarantee its MFI Partners and will not be liable for any default, malfeasance or negligence of an MFI Partner.

3.6 Representations and Warranties by You

You represent and warrant to WEAL that:

(a) You are empowered to enter into the Agreement;

(b) Your entry into the Agreement does not breach any law of any jurisdiction;

(c) You have the full and complete right, power and authority to submit to the Website any text, graphics, photographs, images, moving images, sound, illustrations and software that You submit to the Website from time to time, and by doing so you will not be breaching any law, contractual obligation or intellectual property right of any person;

(d) You understand the risks inherent in entering into the Agreement and you have, to the extent necessary, obtained appropriate legal and/or commercial advice in relation to those risks;

(e) You have not entered into the Agreement in reliance on or as a result of any advice, representation, promise, statement, conduct or inducement by or on behalf of WEAL (or any of its employees or representatives) otherwise than as expressly embodied in these Terms and Conditions.

 

PART 4 – MY GOOD RETURN

4.1 Introduction

This Part 4 of the Terms and Conditions applies if You have elected, via the Website, to create Your own unique location on the Website where You can store and update Your personal details (‘My Details’) and Your password (‘My Password’), view details of Your contribution(s) and their impact (‘My Return on Giving’), download Your tax deductible donation records (‘My Statement’), arrange regular giving (‘My Regular Giving’), subscribe to the Good Return Newsletter (‘My Subscription’) and organise Your own fundraising campaigns for Good Return (‘My Fundraising’).

My Good Return is owned and operated by WEAL under the brand Good Return, and is provided to You on the following terms and conditions.

4.2 My Return on Giving

This area of My Good Return enables you to view Your contribution(s) and the impact You’ve made so far.

4.2.1 My Contribution

This shows Your contribution(s) made in the current financial year (1 July/30 June). The loan data that You can view is delayed by up to 14 days, as it is not currently possible for us to show it in real time.

The data that can be viewed includes:

Invest in Good: includes all donations for our bankers, trainers and country programs, as well as donations for loans.

Fund Small Loans: includes money used to fund borrowers’ loans, which is repaid to you later.

Donate Goods: includes all goods and services given to Good Return for operational and promotional purposes.

Do Good (for Corporate Social Investors only): includes pro bono work.

We reserve the right to amend or vary the above categories of data that You can view, without prior notice to you. We will endeavour to make you aware of any such amendments through the Website.

So far as concerns non-monetary donations, the value of these will be converted to a cash equivalent on the basis of their market value (for goods), a reasonable market price (for services), or Your normal charge-out rate (for pro bono work), all as at the time the donation is made.

4.2.2 My Social Investor

The concept of My Social Investor is still under development. The idea is to recognise your contribution, and offer you the opportunity to become even more involved with our work.

Qualifying Factors:

(i) to become a Public Social Investor, you’ll need to earn at least 1,000 Good Return points in the immediate past financial year
(ii) for a Corporate Social Investor, at least 50,000 points are required to be earned in the immediate past financial year.

These points may be earned from any kind of donation: money, goods and services, or pro bono work by corporates

(iii) for the purposes of determining the points value of Your contribution(s), we will use the same criteria as are set out under My Contribution
(iv) unfortunately, we cannot allow ‘unused’ points earned in one financial year to be carried forward into the next financial year

To show our appreciation, you’ll receive a special invitation to join our regular program updates, annual general meeting, and microfinance presentations. You can also visit our programs, but you’ll have to meet your own travel expenses.

4.2.3 My Impact

Your support has helped Good Return make a difference to the lives of people living in poverty in Asia Pacific. Measuring the specific impact of such development work is no easy task, but here is an explanation of how we do it.

We estimate the number of people who have directly benefited by analysing the total of bankers, borrowers, village trainers and trainees who have participated in our programs in the previous financial year (1 July/30 June). In order to calculate a ‘program cost per person’ we then divide that number into the total expenditure on all our relevant programs in the same financial year.

Although not included in these estimations, it is worth remembering that the immediate families of those who have participated in our programs will also indirectly benefit, all of which has been made possible by your support.

4.3 My Details

(a) You have elected, via the Website, to provide and update your personal details by completing an on-line form. It may take up to 24 hours for any updated details to appear in your account.

(b) You must personally provide the information requested during the registration process and must ensure that it is, and is kept, accurate, true, current and complete.

(c) By completing the My Profile process, You are signifying Your agreement to be bound by all these terms and conditions. If You do not agree to any of these terms or conditions, or if You violate any of them, Your permission to use My Profile automatically terminates and You must leave My Good Return immediately.

(d) You agree that You will not use My Good Return for any purpose that is intentionally or  unintentionally unlawful, discriminatory or defamatory in any way of any person or organisation, or offensive or obscene.

(e) We may terminate Your My Good Return account, in our absolute discretion, if we consider that there has been (i) violation of these terms and conditions; (ii) abuse of site resources or any attempt to gain unauthorised entry to the Website or Website resources; (iii) use of the Website in a manner inconsistent with its purpose; or (iv) if we are required to do so by law, regulation, court or regulatory agency order or (v) if You so request.

(f) We shall not be liable to You or any third party for any termination of Your access or account. In addition, Your request for termination will result in deactivation but not necessarily deletion of the account. We reserve the right to delete, or not to delete, Your account at our sole discretion, as well as to delete, or not to delete, content at our sole discretion.

(g) You are wholly responsible for maintaining the confidentiality of Your login details, and it is therefore important that You safeguard them, as we cannot be responsible for
any loss, injury or damage flowing from their becoming public for any reason outside our control.

(h) Please be aware that in order to facilitate administration of the Website, the administrator (only) will have access to Your login and password.

(i) We ask for details of Your employer as You can potentially double the impact of Your donations, since many employers have a workplace giving program whereby they match
employees’ donations.

(j) Your email address is Your unique identifier in our database; if you need to change it, please contact us direct.

4.4 My Password

In this area, You can store and update Your password at any time.

4.5 My Regular Giving

We encourage you to support Good Return through regular giving as Your ongoing commitment helps us to make long-term plans to fight poverty. Regular donations are normally deducted around the 15th of the month, depending on the frequency You’ve selected. Any changes in Your regular giving details may take one full donation cycle to be updated in our system.

We endeavour to direct the funds You donate, whether regular or otherwise, to Your chosen programs. However, circumstances beyond our control may dictate that we should utilise Your funds in areas of greater need, and we therefore reserve the right to re-direct Your funds to a program(s) where such a greater need exists as appropriate, without having to notify You in advance.

Every July we’ll email You a receipt for all Your regular donations in the past financial year, showing:

  • Program(s) You’re supporting
  • Frequency
  • Amount:

To update Your Regular Giving, please contact us.

 

4.6 My Subscription

We encourage You to subscribe to our monthly e-newsletters. You are under no obligation to do so, but it is a way in which You can stay in touch with our people in the field such as community bankers and village trainers, and keep up to date with our programs. Our newsletters will be sent to the current email address that we have for You in our database.

4.7 My Fundraising

In this area, You can view fundraising activities conducted by You on Good Return’s behalf. All fundraising activities will only be permitted by Us subject to our standard terms and conditions of fundraising, a copy of which can be obtained from Us on application by You.

4.8 My Statement

You can view and download Your annual statement at any time on My Good Return by choosing the desired financial year and clicking on the download button.

 

Part 5 – GENERAL

5.1 Introduction

This Part 5 of the Terms and Conditions applies to Loans, Donations and My Good Return.

5.2 Definitions

In these Terms and Conditions:

“Administration Fee” means a fee (in $AUD) equal to 10% of the total of all Loan Amounts in respect of Loans made by You in this visit to the Website, provided that:

(a) if such amount would be less than $AUD 5 – the Administration Fee shall be $AUD 5;

(b) if such amount would be greater than $AUD 25 – the Administration Fee shall be $AUD 25.

“Applicant” means a low-income loan applicant who has been identified as a potential loan applicant on the Website.

“$AUD” is a reference to Australian dollars.

“Agreement” means the agreement between You and WEAL, which is formed upon your acceptance of these Terms and Conditions.

“Beneficiary” means where You have elected to purchase a Gift Certificate, the beneficiary of the Gift Certificate (as notified by You to WEAL in accordance with the Website).

“Content” means all content featured or displayed on the Website, including text, graphics, photographs, images, moving images, sound, illustrations and software.

“DGR” means a deductible gift recipient.

“Donation” means a donation of money (in $AUD) by You to:

(a) WEAL – in the case of funding for Loan Applicants who reside within Australia; or

(b) WEAORF – in the case of funding for Loan Applicants who reside outside of Australia.

The amount of the Donation will be provided by WEAL or WEAORF (as applicable) to a MFI Partner for provision to Your Loan Applicant. A Donation may be made either:

(c) in Your name; or

(d) in the name of a Beneficiary, if you have decided to purchase a Gift Certificate for a Donation.

“Donor” means:

(a) a person who elects to provide funding to a Loan Applicant by way of a donation in accordance with the Website; and/or

(b) a person who elects to purchase (in accordance with the Website) a Gift Certificate to provide funding to a Loan Applicant in the name of, and on behalf of, a Beneficiary by way of a Donation.

“Gift Certificate” means, if you have elected to do so via the Website, a gift certificate whereby You agree to provide funding to the Loan Applicant in the name of a Beneficiary – (either by way of a Loan or a Donation). The Beneficiary will then select the Loan Applicant. If the Beneficiary fails to select a Loan Applicant within 12 months of the date of issue of the Gift Certificate, WEAL may apply the amount of the Gift Certificate (either itself or via WEAORF) to improve the lives of the poor in the Asia Pacific region. “Good Return Program” means WEAL’s Good Return Program which aims to provide a sustainable means for low-income people in Australia and the Asia Pacific region to improve their lives through access to capital and skills development opportunities.

“Good Return” is a registered business name and trademark owned by WEAL, and is the primary brand used by WEAL for its charitable purposes.

“Government Authority” means any government or any governmental or semi-governmental entity, authority, agency, commission, corporation or body (including those constituted or formed under any statute), local government authority, administrative or judicial body or tribunal or stock exchange.

“GST” means any goods and services Tax, consumption Tax, value added Tax or similar Tax.

“Lender” means:

(a) a person who elects to provide funding to a Loan Applicant by way of a loan in accordance with the Website; and/or

(b) a person who elects to purchase (in accordance with the Website) a Gift Certificate to provide funding to a Loan Applicant in the name of , and on behalf of, a Beneficiary.

“Loan” means a loan of money by You to WEAL, which will be provided by WEAL to a MFI Partner for provision to Your Loan Applicant. The amount of each Loan has been selected by You in accordance with the Website. It does not include the Administration Fee, which is additional. A Loan may be made either:

(a) in Your name; or

(b) in the name of a Beneficiary, if you have decided to purchase a Gift Certificate for a Loan.

You may make more than one Loan when You visit the Website.

“Loan Amount” means either:

(a) the amount of the Loan; or

(b) the aggregate value of the Gift Certificate purchased by You,

as applicable.

“Loan Applicant” or “Your Loan Applicant” means the Applicant whom You (or the Beneficiary of a Gift Certificate) have elected to fund by way of either a Loan or a Donation. Where You have decided to make a direct Loan or Donation, You will choose Your Loan Applicant. Where You have chosen to purchase a Gift Certificate, the Beneficiary of that Gift Certificate will choose Your Loan Applicant.

“MFI Partner” means a microfinance institution partner of WEAL. Each Applicant, including Your Loan Applicant, is sourced by an MFI Partner operating in that Applicant’s jurisdiction.

“PayPal” means the system for transmitting funds using www.paypal.com.

“PBI” means a Public Benevolent Institution.

“Relevant Foreign Currency” means the currency of the country in which Your Loan Applicant resides.

“Repayment Amount” means, in respect of a Loan, the amount of money actually received by WEAL (in Relevant Foreign Currency) from the relevant MFI Partner in respect of the repayment of that Loan, as converted into $AUD by WEAL.

“Tax” means any taxes, levies, imposts, deductions, charges and withholdings assessed, imposed, collected or withheld under any legislation and, in each case, all interest, fines, penalties, charges, fees or other amounts in respect of them.

“User” means a user of the Website, regardless of whether or not that user is or becomes a Lender.

“WEAL” means World Education Australia Limited (ABN 39 106 279 225), an Australian public company limited by guarantee and registered under the Australian Corporations Act, with charitable (PBI) and DGR status.

“WEAORF” means World Education Australia Overseas Relief Fund, being a fund to provide resources for economic and social development programs to improve the lives of the poor in the Asia Pacific region.

“Website” means www.goodreturn.org, www.goodreturn.org.au, and any other “Good Return” domain names that point to either of those websites, being a tool of the Good Return Program to allow the Australian public to provide funding to Applicants who are uploaded to the Website.

“You” means the person who has accepted these Terms and Conditions.

5.3 Interpretation

In these Terms and Conditions:

(a) headings are for convenience only and do not affect interpretation;

and unless the context indicates a contrary intention:

(b) if You are identified (via the Website) as more than one person , “You” refers to all of the persons so identified, and Your obligations under the Agreement bind each of you, jointly and severally;

(c) “person” includes an individual, the estate of an individual, a corporation, a government authority of any jurisdiction, an association or a trust;

(d) a reference to a document (including the Agreement) is to that document as varied, novated, ratified, replaced or restated from time to time;

(e) a reference to a law includes any law, principle of equity, statute or official directive of any government authority of any jurisdiction;

(f) a word importing the singular includes the plural (and vice versa) and a word indicating a gender includes every other gender;

(g) a reference to a party, clause or schedule is a reference to a party, clause or schedule to or of these Terms and Conditions;

(h) if a word or phrase is given a defined meaning, any other part of speech or grammatical form of that word or phrase has a corresponding meaning; and

(i) “includes” in any form is not a word of limitation.

5.4 Confidentiality/Privacy

(a) WEAL is under no obligation to provide You with any details in relation to any Applicant (including Your Loan Applicant), beyond what is available on the Website, and may be prohibited from doing so.

(b) WEAL will not disclose to any MFI Partner, the Loan Applicant or any Applicant Your address or contact details without Your prior permission.

(c) In order to protect the privacy of the Loan Applicant, You agree not to contact or attempt to contact the Loan Applicant (or any other Applicant) directly. WEAL may provide a means for communications to be sent between parties on the Website in a manner that protects each party’s right to confidentiality.

(d) If You have indicated, via the Website, that You agree to WEAL doing so (whether on this or any other visit to the Website), WEAL may use details provided by You for WEAL’s own marketing purposes and You hereby authorise WEAL to do so.

5.5 Website Content

(a) WEAL reserves all intellectual property and moral rights that may exist in relation to the Website from time to time.

(b) All of the Content is owned by WEAL, its subsidiaries, affiliates or content providers.

(c) WEAL reserves the right to alter the Website from time to time in its absolute and unfettered discretion.

(d) If you submit Content to the Website (such as photos and personal information) at any time, You agree that WEAL may use and distribute such Content for such purposes as WEAL thinks fit.

(e) WEAL will review content on the Website regularly and has the right to remove any content for any reason (including that it is, in WEAL’s opinion, offensive or inappropriate).

5.6 Disclaimer

(a) The Content on this Website (including any graphics, software or other materials) and any content made available through this Website are provided “as is” and without warranties of any kind, either express or implied. To the fullest extent permissible pursuant to applicable law, WEAL disclaims all warranties, express or implied, including, all implied warranties of merchantability, fitness for a particular purpose, title and non-infringement. WEAL does not warrant or make any representations regarding the use or the results of the use of the Content in this Website in terms of its correctness, accuracy, reliability, or otherwise. You assume total responsibility and risk for Your use of this Website and site-related services.

(b) Certain links in this Website may provide access to other sites on the worldwide web. The linked sites may not be under the control of WEAL and WEAL is in any event not responsible for the contents of any linked site or any link contained in a linked site, or any changes or updates to such sites.

(c) WEAL is not responsible for webcasting or any other form of transmission received from any linked site.

(d) WEAL is providing these links to You only as a convenience, and the inclusion of any link does not imply a referral by WEAL to, or an endorsement by WEAL of, the linked site or any products or services which may be offered there.

(e) WEAL makes no representation or warranty, express or implied, with respect to any third party data provided to WEAL or its transmission, timeliness, accuracy or completeness, including but not limited to implied warranties or warranties of merchantability or fitness for a particular purpose.

(f) WEAL will not be liable in any way to You or to any other person for any inaccuracy, error or delay in or omission of any third party data or the transmission or delivery of any such third party data and any loss or damage arising from :

(i) any such inaccuracy, error, delay or omission;

(ii) non performance; or

(iii) interruption in any such third party data due either to any negligent act or omission by WEAL or force majeure or any other cause beyond the control of WEAL.

5.7 Disputes

(a) (Governing Law): Any dispute between You and WEAL will be governed and interpreted in accordance with the laws of New South Wales.

(b) (Governing Jurisdiction):

(i) Each party irrevocably submits to the non-exclusive jurisdiction of the courts of New South Wales, and to the courts competent to determine appeals from those courts (“New South Wales Courts”), with respect to any proceedings that may be brought at any time relating to the Agreement or these Terms and Conditions.

(ii) Each party irrevocably waives any objection it may now or in the future have to the venue of any proceedings being the New South Wales Courts, and any claim it may now or in the future have that any proceedings have been brought in an inconvenient forum, if the proceedings are brought in the New South Wales Courts.

(c) (MFI Partners): WEAL is solely responsible for interactions with its MFI Partners and any disputes that may arise with any of its MFI Partners.

 

5.8 Representations and Warranties by WEAL

WEAL represents and warrants to You that:

(a) it is a corporation limited by guarantee and formed under the Australian Corporations Act;

(b) it is empowered to enter into the Agreement.

5.9 Limitation of Liability

(a) You acknowledge that WEAL does not always verify the accuracy of information from MFI Partners, other Users, other Lenders or Donors or Loan Applicants.

(b) WEAL shall not have any responsibility, obligation or liability for:

(i) decisions or interactions resulting (directly or indirectly) from participation in the Good Return Program; or

(ii) any damages, costs, losses or expenses You incur as a result (directly or indirectly) of making a Loan or Donation to a Loan Applicant or as a result (directly or indirectly) of participating in or utilising the Good Return Program or information received in connection with the Good Return Program.

5.10 Indemnity

You agree to indemnify WEAL against any loss, liability, actions, claims or demands, including legal fees, made or incurred by any third party due to or arising (directly or indirectly) out of your use of the Website, participation in the Good Return Program, or breach of the Agreement.

5.11 Severability

If at any time any provision of these Terms and Conditions is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction that will not affect or impair the legality, validity or enforceability of any other provision of these Terms and Conditions.

5.12 Amendment

These Terms and Conditions and the Agreement may be modified by WEAL in its sole discretion from time to time and such modifications will become part of these Terms and Conditions and the Agreement and will be effective once posted by WEAL on the Website.

5.13 No Assignment

You may not assign or transfer Your rights or obligations under these Terms and Conditions or the Agreement to any other person.

5.14 Waiver

WEAL shall not be taken to have waived Your performance with these Terms and Conditions or the Agreement unless such waiver is given by WEAL in writing.

Top