(a) The Principal acknowledges that the Agent uses personal information collected from or about the Principal to act as the Principal’s agent and to perform the Services and the Agent’s obligations under this Agreement.
(b) The Principal authorises the Agent to (i) use such information collected to promote the services of the Agent (including for direct marketing purposes) and/or to seek potential clients; and
(ii) Disclose such information to other parties for reuse, distribution including retention of content by third-party platforms, media organisations, on the internet, to potential landlords and their advisers, to potential tenants and their advisers, to clients of the Agent both existing and potential, to persons engaged to evaluate the Property, owners’ corporations and managing agents, government and statutory bodies, financial institutions, valuers, building consultants and pest inspectors.
(c) The Agent will only disclose information to other parties as is required to perform the Agent’s duties under this Agreement, to carry out those matters described in subclauses
(a) and (b) or as is otherwise permitted under the Privacy Act 1988 (Cth).
(d) If requested by the Principal, the Agent will provide the information collected to the Principal.
(e) The Principal must correct information collected by the Agent if it is inaccurate, incomplete or out of date.
(f) The Principal may request not to receive direct marketing communications from the Agent at any time in writing.
(g) The Principal acknowledges that personal information (including identification documents and verification data) collected for the purposes of the AML/CTF Act may be retained by the Agent for at least 7 years as required by that Act, and may be disclosed to AUSTRAC and other parties as required or permitted by law.
(h) The Principal acknowledges that third-party platforms operate under their own privacy principles.
(a) The Principal acknowledges that the Agent is a reporting entity under the AML/CTF Act and must comply with obligations under the AML/CTF Act and AML/CTF Rules, including enrolment with AUSTRAC, customer due diligence (CDD), ongoing CDD, reporting, record-keeping and screening obligations.
(b) The Principal must, promptly upon request by the Agent, provide all information and documents the Agent reasonably requires to comply with the AML/CTF Act and AML/CTF Rules, including:
(i) evidence of the identity of the Principal and any person acting on the Principal’s behalf;
(ii) where the Principal is a company, trust, partnership or other entity, information and documents identifying its
beneficial owners and any person who controls the Principal;
(iii) information about the source of funds or source of wealth relevant to the transaction, where requested;
(iv) updated information where any information previously provided changes or is found to be inaccurate; and
(v) any other information reasonable required by the Agent to comply with its obligations under the AML/CTF Act
and AML/CTF Rules.
(c) The Principal warrants that all information and documents provided under this clause are true, complete and up to date.
(d) The Agent is not required to commence or continue providing the Services until the Agent has completed initial CDD on the Principal to the Agent’s reasonable satisfaction, and the Agent may delay or suspend the Services where required to comply with the AML/CTF Act or AML/CTF Rules. Any such delay or suspension is not a breach of this Agreement by the Agent.
(e) If the Agent is unable to complete or maintain CDD in respect of the Principal, or forms the view (acting reasonably) that commencing or continuing to provide the Services would contravene the AML/CTF Act or AML/CTF Rules, the Agent may terminate this Agreement by written notice to the Principal with immediate effect, without liability to the Principal. Termination under this subclause does not affect the Agent’s entitlement to the Fee for Services (where clause 4 is satisfied) or to reimbursement of Expenses incurred prior to termination.
(f) The Principal acknowledges that the Agent may be required to make reports to AUSTRAC (including suspicious matter reports) without notice to the Principal, and that the Agent is prohibited by law from disclosing whether such a report has been made. Nothing in this Agreement requires the Agent to disclose, and the Agent will not be in breach of this Agreement or any duty by not disclosing, any such report or related information.
(g) To the full extent permitted by law, the Agent is not liable for any loss, damage, cost or delay suffered by the Principal arising from anything done or not done by the Agent in good faith to comply, or attempt to comply, with the AML/CTF Act or AML/CTF Rules, including any delay, suspension or termination under this clause or any report made to AUSTRAC.
(h) The Principal must pay the AML/CTF compliance administration fee (if any) stated in Item 6, and must reimburse
the Agent for third-party identity verification and screening costs stated in Item 6, in accordance with clause 5.
(i) The Principal acknowledges that the Agent is required to retain records relating to CDD and the Services for at least 7 years, and consents to that retention notwithstanding the expiry or earlier termination of this Agreement.