Octet Finance Loyalty Rewards Program Terms and Conditions

1.1 These Terms and Conditions:

(a) apply to and govern the contractual relationship between the Program Partner and each Member with respect to the Rewards Scheme made available by the Program Partner as a participant in the Qantas Business Rewards Program or the Virgin Australia Business Flyer Program;

(b) are effective as at the date specified above and may be amended from time to time; and

(c) operate in conjunction with the Loyalty Program Terms and Conditions.

1.2 It is the Member’s responsibility to read and understand both the applicable Loyalty Program Terms and Conditions and these Terms and Conditions. Any queries regarding these Terms and Conditions should be directed to the Program Partner.

2.1 Unless the context otherwise requires:

(a) has entered into a facility agreement with the Program Partner for the provision of a Business Transaction Facility (also known as a Trade Finance Facility) under which that person may obtain financial accommodation from the Program Partner to assist that person in making payment for goods and services purchased by that person and for other purposes permitted by the facility agreement;

(b) has entered into a facility agreement with the Program Partner for the provision of a Debtor Finance Facility;

(c) is a customer (referred to as a debtor) of a person who has entered into a Facility Agreement with the Program Partner for the provision of a Debtor Finance Facility;

(d) has entered into a facility agreement with the Program Partner for the provision of a Supply Chain Procurement Facility, including a facility known as a Points4Pay Facility;

(e) is a broker or other introducer who introduces to the Program Partner clients who obtain or may obtain any facility of the type described in paragraphs (a), (b) or (d); or

(f) has or obtains other facilities from the Program Partner or has other arrangements with the Program Partner as specified by the Program Partner at any time.

Eligible Product means an Octet Business Transaction Facility (also known as a Trade Finance Facility), Debtor Finance Facility, Supply Chain Procurement Facility, Points4Pay Facility and other facilities or arrangements specified by the Program Partner at any time. When the Eligible Participant is a person described in paragraph (c) of that definition, the Eligible Product is the transfer to the Program Partner of the book debt owed by the customer and when the Eligible Participant is a person described in paragraph (e) of that definition, the Eligible Product is the introduction of the clients.

Facility Agreement is the agreement between the Program Partner and the Member for the provision of an Eligible Product. Other persons can be a party to the agreement.

Government Agency means any government, governmental, semi-governmental, administrative, fiscal or judicial body, department, commission, authority, tribunal, agency or entity.

Loyalty Point Issuer means Qantas Business Rewards or Virgin Australia Business Flyer, being the person who issues, or may issue, Loyalty Points.

Loyalty Points means Qantas Points or Velocity Points.

Loyalty Program means the Qantas Business Rewards Program provided pursuant to the Qantas Terms and Conditions and Virgin Australia Business Flyer Program provided pursuant to the Velocity Terms and Conditions.

Loyalty Program Terms and Conditions means the Qantas Business Rewards Terms and Conditions or the Virgin Australia Business Flyer Terms and Conditions as applicable.

Member means a person who:

• is an Eligible Participant;
• is an ABN holder having a postal address in Australia;
• is registered with Qantas Business Rewards and/or Virgin Australia Business Flyer as a member of a Loyalty Program;
• pays all fees (if any) due to Qantas Business Rewards and/or Virgin Australia Business Flyer in any membership year; and
• has been advised by the Program Partner that the person may earn Qantas Points and/or Velocity Points in accordance with these Terms and Conditions, the terms of the Facility Agreement and the Loyalty Program Terms and Conditions.

Membership Account, in relation to a Loyalty Program and a Member, means the membership account in which membership details are held and where Loyalty Points are recorded.

Points Recipient, in the case of Qantas Points, means a Qantas Points Recipient (as defined in the Qantas Terms and Conditions) and, in the case of Velocity Points, means a person (if any) who can, in accordance with the Velocity Terms and Conditions, be credited with the Velocity Points to which a Member is entitled.

Program Partner means Octet Finance Pty Ltd (ACN 124 477 916) or Octet Finance (Qld) Pty Ltd (ACN 632 841 564) as applicable.

Qantas means Qantas Airways Limited (ABN 16 009 661 901) and its related bodies corporate.

Qantas Business Rewards means the business loyalty program operated by Qantas Airways Limited under which eligible Australian businesses may earn Qantas Points for the business on eligible flights and other qualifying transactions, subject to the Qantas Business Rewards Terms and Conditions. 

Qantas Points means the points earned and redeemed in accordance with and subject to the Qantas Terms and Conditions.

Qantas Terms and Conditions means the terms and conditions available at (https://www.qantas.com/au/en/business-rewards/terms-and-conditions.html).

Rewards Scheme, for the purposes of these Terms and Conditions, means the Octet Finance Loyalty Rewards Program which is operated by the Program Partner.

Tax means any tax (including any fringe benefits tax), levy, royalty, rate, duty, fee, impost or other charge howsoever described imposed by any Government Agency or other body authorised by law whether in Australia or elsewhere including Australian general interest charge and shortfall interest charge, including any fee and any penalty or interest howsoever described.

Terms and Conditions means these Octet Finance Loyalty Rewards Program Terms and Conditions which are administered by the Program Partner.

Velocity means Velocity Frequent Flyer Pty Ltd (ABN 60 601 408 824) and its related bodies corporate.

Velocity Points means the points earned and redeemed in accordance with and subject to the Velocity Terms and Conditions. 

Velocity Terms and Conditions means the terms and conditions available at (https://www.velocityfrequentflyer.com/member-support/terms-conditions).

Virgin Australia Business Flyer means the business rewards program operated by Virgin Australia that allows eligible businesses to earn Velocity Points in accordance with the applicable Virgin Australia Business Flyer Terms and Conditions.

2.2 In these Terms and Conditions, unless the contrary intention appears:

(a) the singular includes the plural and vice versa; and

(b) a reference to ‘include’ or ‘including’ means ‘including but not limited to'.

A Member agrees to be bound by these Terms and Conditions and the Loyalty Program Terms and Conditions by agreeing to the Facility Agreement which refers to these Terms and Conditions. A Member also agrees to be bound by these Terms and Conditions and the Qantas Terms and Conditions by claiming any Qantas Points. A Member also agrees to be bound by these Terms and Conditions and the Velocity Terms and Conditions by claiming any Velocity Points.

A Member must select if they want to enter into the Rewards Scheme at the time of entering into the Facility Agreement. Alternatively, the Facility Agreement can be amended so that the Member enters into the Rewards Scheme. Membership of the Rewards Scheme is not a default benefit of having an Eligible Product.

5.1 The Program Partner gives no undertaking as to the continuing availability of the Reward Scheme. The Program Partner may terminate or suspend the Reward Scheme at any time and will give at least 60 days’ notice to Members of such termination or suspension (the "Notice Period"), except if the Loyalty Program ceases to operate, in which case the Reward Scheme will cease immediately.

5.2 If the Program Partner terminates or suspends the Reward Scheme, subject to the Loyalty Program Terms and Conditions Members will be able to redeem or transfer Loyalty Points during the Notice Period, except where:

(a) the Loyalty Points Issuer is ceasing to operate an airline business and/or has gone into liquidation, receivership or other form of administration; and/or

(b) the Program Partner ceases to operate its business and/or has one into liquidation, receivership or other form of administration,

in which case Loyalty Points in Rewards Program may be cancelled without notice. Any redemption or transfer of Loyalty Points will be subject to the Loyalty Program Terms and Conditions.

6.1 The Program Partner advises the Member each of the following.

(a) Only ABN holders may become members of the Loyalty Program, only members of the Qantas Business Rewards Program may become entitled to Qantas Points and only members of the Virgin Australia Business Flyer Program may become entitled to Velocity Points.

(b) The Qantas Terms and Conditions apply to membership of the Qantas Business Rewards Program and the earning, retention and redemption of Qantas Points by the Member.

(c) The Velocity Terms and Conditions apply to membership of the Virgin Australia Business Flyer Program and the earning, retention and redemption of Velocity Points by the Member.

(d)  A Member may receive Qantas Points only in the Membership Account in that Member’s name and a Member may receive Velocity Points only in the Membership Account in that Memebr’s name.

(e) Qantas may vary the Qantas Terms and Conditions and the terms and conditions of the Qantas Frequent Flyer program.

(f) Velocity may vary the Velocity Terms and Conditions and the terms and conditions of the Virgin Frequent Flyer program.

6.2 Subject to the terms of the Eligible Product and to the exclusions, limitations and other conditions specified in this clause 6, the Program Partner will award Loyalty Points to Members at the applicable rate specified in the Facility Agreement, or in any special offer, for Eligible Products obtained by the Member for the Member’s business related purposes, unless the Membership Account has been suspended or terminated.

6.3 No Loyalty Points will be awarded if the Eligible Product is cancelled, refunded or terminated or if the Member breaches any of its obligations in relation to the Eligible Product. When the Eligible Participant is a person described in paragraph (c) of that definition, if the person who is a party to the Facility Agreement breaches any of its obligations in the Facility Agreement no Loyalty Points will be issued.

6.4 To earn Loyalty Points in relation to an Eligible Product, the Member must quote its ABN at the time of entering into the Facility Agreement or obtaining an Eligible Product and must comply with any other requirements or procedures specified in the Facility Agreement or advised by the Program Partner prior to entering into the Facility Agreement or obtaining the Eligible Product.

6.5 It is the responsibility of the Member to check whether a product or other activity is eligible to earn Loyalty Points, and if so, how many Loyalty Points or which other benefits will be earned, before entering into the Facility Agreement, obtaining the Eligible Product or undertaking the relevant activity.

6.6 Members must provide the Program Partner on request with documented verification of obtaining an Eligible Product or undertaking the relevant activity. The Program Partner reserves the right to deny or revoke the crediting of Loyalty Points in the Rewards Scheme at any time if the Program Partner determines that the Loyalty Points were improperly obtained or erroneously credited to a Member’s Membership Account.

6.7 Unless otherwise determined by the Program Partner, Members are not eligible to earn Loyalty Points in the Rewards Scheme if they have their principal place of business outside Australia, if they are in default in the performance of their obligations in connection with the Eligible Product, if the Facility Agreement provides that Loyalty Points will not be earned, if the Loyalty Program Terms and Conditions provides that Loyalty Points will not be earned or if an Event of Default (as defined in the Facility Agreement) is continuing.

6.8 The Program Partner may offer additional opportunities to earn Loyalty Points in the Rewards Scheme under a special promotion from time to time, in which case the terms and conditions referred to in the promotion will apply.

8.1 The Program Partner reserves the right to terminate a Member’s participation in the Rewards Scheme or withhold or cancel Loyalty Points claimed under the Rewards Scheme if a Member or any of the Member’s representative has attempted to claim Loyalty Points under the Rewards Scheme to which the Member was not entitled.

8.2 The Program Partner and the Loyalty Point Issuer will not be liable for any loss or damage whatsoever suffered by any person as a result of any termination of the Rewards Scheme or the withholding or cancellation of any Loyalty Points and the Member is responsible for ensuring that its nominated Points Recipients are notified of this.

9.1 The Member authorises the provision of data by the Program Partner to the Loyalty Point Issuer for the purposes of the Loyalty Point Program. The data which can be provided is outlined in the privacy policy mentioned in clause

9.2 The Program Partner will ensure that any personal information it receives in connection with the Rewards Scheme will be collected, used and disclosed in accordance with the Program Partner’s privacy policy which is available at octet.com. In particular, the Program Partner may disclose personal information (such as names, ages, addresses, telephone numbers, email addresses, account numbers and transactions under Eligible Products) to a Loyalty Point Issuer to assist in the administration of the Loyalty Program.

9.3 The Program Partner’s privacy contact officer can be contacted for further details regarding the personal information the Program Partner may hold and advice about how personal information held by the Program Partner can be corrected. The privacy contact officer can be contacted by:

• Telephone: +61 2 9356 6300
• Email: privacy@octetfinance.com
• Mail: Privacy Contact Officer, Level 3, 10-14 Waterloo Street, Surry Hills NSW 2010

9.4 The Program Partner will share personal information with the Loyalty Point Issuer where it is necessary for Loyalty Points to be issued. The Member must read the Velocity Privacy Statement (https://www.virginaustralia.com/au/en/about-us/policies/privacy/privacy-statement-business-flyer/), the Velocity Privacy Policy (https://www.virginaustralia.com/au/en/about-us/policies/privacy/privacy-policy/), the Qantas Privacy Statement (Privacy Statement | Qantas) and the Qantas Privacy Policy (Privacy and security | Qantas AU).

The Member must also ensure that each relevant Eligible Participant and each eligible Point Recipient reads the privacy statements and privacy policies mentioned above. 

10.1 The Program Partner recommends that Members and their nominated Points Recipients consult their accountant or tax adviser to ensure that they understand possible Tax implications, if any, related to their earning and use of Loyalty Points under the Rewards Scheme.

10.2 Members are responsible for any possible Tax related to participation in the Rewards Scheme, the Loyalty Program, Loyalty Points earned, the use of Loyalty Points and other benefits or otherwise and the Members should seek advice from a professional accountant or tax adviser to ensure they understand the Tax liability. Members will be responsible for any possible Taxes related to the participation in the Rewards Scheme, the Loyalty Program, Loyalty Points earned, the use of Loyalty Points and other benefits and they should seek advice from a professional accountant or tax adviser to ensure they understand any such Tax liability. Members must pay or reimburse the Program Partner upon demand, or provide to the Program Partner evidence of exemption from, all Taxes, levied, assessed, charged or collected in connection with any Loyalty Points or the supply of any goods or services by the Program Partner or a Loyalty Point Issuer.

10.3 Each Member acknowledges and agrees that the Member will be liable and responsible for any Taxes relating to the Member’s or the Points Recipient’s participation in the Loyalty Program.

10.4 Each Member acknowledges and agrees that the Program Partner and the Loyalty Point Issuer will not be responsible and shall not have any liability for any Tax arising from a Member’s or the Points Recipient’s participation in the Loyalty Program or receipt of any Loyalty Points.