Frollo for Brokers terms and conditions

 

These Terms and Conditions (“Terms”) apply to your use of the Frollo for Brokers service and/or Frollo for Advisers service provided by Frollo Australia Pty Ltd ABN 49 613 113 269 (“Frollo”, “we”, “us”, “our”) to access CDR data on behalf of consumers (your clients) who have given their valid consent (the “Service”).

The Service is provided for the purpose of assisting you in the performance of your professional advisory services to applicable consumers, strictly in accordance with the authorisation, consent and instructions of those consumers.

By using the Service, you agree to be bound by these Terms, and to the collection, use, and disclosure of your personal information as described in our Privacy Policy.

If you do not agree to any part of these Terms, you must not use this Service. Do not proceed if you are unwilling to accept these Terms in full.


1. Eligibility and Verification Requirements

Trusted adviser Class

You represent and warrant that you are a member of a class of trusted advisers permitted to receive CDR data under Rule 1.10C of the Competition and Consumer (Consumer Data Right) Rules 2020 (CDR Rules), specifically:

  1. a mortgage broker within the meaning of the National Consumer Credit Protection Act 2009; or
  2. a financial adviser who is a relevant provider under the Corporations Act 2001; or
  3. a qualified accountant who is a member of CPA Australia, Chartered Accountants ANZ, or the Institute of Public Accountants.

Verification and Evidence

You must provide accurate, current, and complete information as requested by us to enable us to verify your status as a trusted adviser.

Ongoing Obligations

You must promptly notify us of any change in your eligibility, status, or accreditation that may affect your classification under the CDR Rules. We may periodically require re-verification of your status and you must provide all reasonably requested evidence in a timely manner.

Monitoring and Review

We may, at our discretion, monitor your status through independent checks and/or request updated documentation to confirm your ongoing eligibility. Failure to provide satisfactory evidence may result in suspension or termination of these Terms and your continuing access to CDR data of the consumer.

2.  Access and Use Policy

Permitted Use

You may only access and use CDR data provided by the Service:

  1. with the explicit and informed consent of the CDR consumer;
  2. strictly for the purposes for which the consumer has authorised the disclosure of their CDR data, including to provide professional services to the consumer; and
  3. in accordance with your legal, privacy, and professional obligations, including but not limited to any obligations imposed under applicable laws and by your relevant professional licensing or membership body, such as ASIC, AFCA, CPA Australia, CA ANZ, the Institute of Public Accountants, the Finance Brokers Association of Australia (FBAA) or the Mortgage and Finance Association of Australia (MFAA).


Prohibited Use

You must not:

  1. use or disclose CDR data for any unauthorised or unlawful purpose;
  2. retain, store, process or disclose CDR data in any way that breaches your legal, privacy, and professional obligations;
  3. make a copy of the Service software or any part thereof, or otherwise infringe Frollo’s Intellectual Property Rights;
  4. remove or modify any proprietary notices, marks or labels contained on or within the Service;
  5. use the Service in a manner that is unlawful, fraudulent or deceptive or that encourages conduct that would constitute a criminal offence, or give rise to civil liability;
  6. gain or attempt to gain unauthorised access to the Service; or
  7. attempt to or engage in conduct that damages, disables, overburdens, or impairs the Service.

 

3. Our Obligations to You  

We will:

  1. only disclose CDR data to you where:
      1. the CDR consumer has provided valid, express consent in accordance with the CDR Rules; and
      2. we can comply with our obligations as an Accredited Data Recipient under the CDR Rules;
  2. act honestly, in good faith, and in a commercially reasonable manner in our dealings with you under these Terms, including the provision of the Service;
  3. operate and maintain the Service with reasonable care and skill, using appropriate technical and security measures; and
  4. notify you promptly of any material changes to Service availability that may affect your ability to access CDR data.

 

4. Termination and Suspension

We may suspend or terminate your access to the Service:

  1. if we reasonably believe you have breached these Terms or no longer meet the eligibility requirements under the CDR Rules, and you fail to rectify within 10 business days of notice;
  2. if required by law, regulator or the CDR Rules; or
  3. where there is a reasonable risk to the integrity or security of the Service or any CDR data.

You may terminate these Terms at any time by emailing us to request deregistration of your account, or by discontinuing your use of the Service. Where you have not accessed the Service for a period of 2 years, you will be deemed to have discontinued your use of the Service.

In all cases, we will act in good faith and, where practicable, provide you with reasonable notice and an opportunity to respond or remedy the issue, where it is capable of remedy.

 

5. Fair Dealing and Dispute Resolution

We will act in good faith and deal fairly with you in the event of any dispute or service issue. If a dispute arises under these Terms both parties agree to attempt to resolve it in good faith through informal discussions before commencing formal legal proceedings.

6. Your General Obligation to Us 

As a condition of your access to and use of the Service and CDR data provided by the Service, you agree and acknowledge the following:


Use of data
You are solely responsible for verifying the accuracy, completeness, suitability and applicability of the CDR data for your client.

No advice
We are not providing you with any financial, legal, tax or compliance advice.

Access Credentials
You are responsible for maintaining the confidentiality and security of your login credentials, including your email address (Login ID) and password. You must not share your credentials with any third party.

Electronic Communications
By providing your email address, you consent to receive all notices, communications, disclosures, and other information relating to the Service electronically, at that email address. It is your responsibility to ensure your email address remains current and to notify us promptly of any changes.

Non-Transferability
Your right to access and use the Service is personal to you and must not be transferred or assigned to any other person or entity. You must not allow any other person to access the Service using your credentials.

Client Authority and Scope of Use
You may only use the Service in connection with bank accounts or financial products that are held directly by your clients, and only where your client has provided informed, valid consent for you to receive their CDR data.

Accuracy of Information
You must ensure that all registration details, professional credentials, and contact information you provide to us are accurate, complete, and kept up to date at all times.

Use Requirements
You agree to use the Service in accordance with the technical specifications, access requirements, and limitations notified to you by us from time to time (on providing reasonable notice), including any system or browser compatibility requirements and data security protocols.

In particular, you agree to:

  1. Implement and maintain reasonable and appropriate technical and organisational measures to protect CDR data (including encryption, access controls, and secure deletion);
  2. Limit access to authorised personnel subject to confidentiality obligations;
  3. Not transfer CDR data outside Australia or to third parties without the consumer’s express prior consent; and
  4. Notify us immediately upon any actual or suspected breach or unauthorised access.

Cooperation
You must cooperate with any reasonable request by us to verify compliance with these Terms, including providing relevant records or certifications on request, provided such requests are made on reasonable notice and not more than twice per calendar year, unless required by law or regulator.

Use of your information
You agree that we may use information you provide to us, including your personal information as defined in the Privacy Act 1988:

  1. to assist with the provision of the Service, including enabling your name and/or business name to appear in the search results for CDR consumers who are searching within our service for their trusted adviser;
  2. to verify or match your information with that provided by a CDR consumer (e.g. partial name matching) for the purpose of facilitating and managing the trusted adviser nomination process;
  3. to verify your registration details, professional credentials, and contact information are accurate and match those held by your professional association or licence credentials;
  4. to generate insights, usage statistics, and other analytics relating to the Service, provided that any such information is aggregated and de-identified before it is disclosed to third parties or used for external reporting; and
  5. for any other purpose expressly permitted under our Privacy Policy, as amended from time to time.

7. Cancellation

Once we have been notified of a cancellation request in relation to your client’s account, all information in our possession and control will be deleted from our systems, and nothing will be retained other than as required by law. No further access to your client’s CDR data via the Service will be possible after a cancellation request has been actioned. Please note that directing your client to merely delete the app will not constitute notification nor will it trigger any obligation on our part to terminate and/or delete your client’s information.

8. Limitation of Liability

To the extent permitted by law:

  1. Our total liability to you is limited to AU$5,000 or the actual direct and reasonable losses suffered, whichever is greater;
  2. Neither party is liable to the other for special, indirect, incidental, punitive or consequential losses (including loss of profit, goodwill or opportunity);
  3. This cap does not apply to losses arising from fraud, wilful misconduct, gross negligence, breach of confidentiality, breach of privacy or unauthorised disclosure or mishandling of CDR data where we have not taken reasonable steps to comply with our obligations under the CDR Rules.

Nothing in these Terms excludes or limits any consumer guarantees or statutory rights that cannot be excluded under applicable law, including the Australian Consumer Law.


9. Changes To This Agreement  

We may change these Terms from time to time.

We will provide 30 days notice of any changes to these Terms, if the changes materially reduce your rights or materially increase your responsibilities, by either emailing you at your nominated email address, or by providing notification to you through the Service. Such changes will not take effect unless you continue usage after the 30 day period.

In all cases, if you do not agree to any proposed change of the Terms, you have the option to terminate these Terms immediately.

10. Upgrades 

From time-to-time Frollo may implement changes, upgrades, enhancements or improvements to the Service software and/or new releases of the Service software (collectively, “Upgrades”).

All such Upgrades to the Service software provided to you shall also be governed by these Terms.

You can elect to stop using the Service if you do not agree to such Upgrades.

11. Notices 

Any notices or other communications issued by you to Frollo under these Terms may be sent by email to [email protected]

Any notices issued by Frollo to you will be provided according to the contact details provided to Frollo by you when registering an account, which may be updated from time to time in the Service. However, Frollo may also provide general or operational notices when you are using the Service.

12. Jurisdiction and Governing Law  

Your use of the Service and these Terms are governed by the law of New South Wales, Australia and you submit to the non-exclusive jurisdiction of the courts exercising jurisdiction in New South Wales, Australia.

13. Entire Agreement  

If any provision of these Terms is found to be void or unenforceable, the remaining provisions shall remain in full force and effect, to the fullest extent permitted by law.

This Agreement constitutes the entire agreement between the parties with respect to use of the Service software and supersedes all prior or contemporaneous understandings regarding such subject matter. However, nothing in these Terms limits any liability either party may have in connection with any representations or other communications (either oral or written) made before or after entering into these Terms, where such liability cannot be excluded by law.

14. Contact Us 

If you have questions, comments, concerns or feedback regarding these Terms, please email us at  [email protected]


15. Definitions 

“Actual direct and reasonable losses” means losses which arise naturally, that is, according to the usual course of things, from the breach, act or conduct.

‘Intellectual Property Rights’ means all patent rights, copyrights, trademark rights, rights in trade secrets (if any), design rights, database rights, domain name rights, moral rights, and any other intellectual property rights (registered or unregistered) throughout the world.

‘Privacy Policy’ means Frollo’s privacy policy available at https://frollo.com.au/privacy-policy/

‘Service software’ means all software made available to you by Frollo over the internet through a web browser or mobile application in accordance with these Terms, and includes:

  1. all source code, object code, configuration files, computer information, filters, and files in such software;
  2. all digital images, media, layouts and formatted forms in such software;
  3. any upgrades, utilities, tools, patches, modified or later versions or plug-ins you may receive or obtain in respect of such software; and
  4. all documentation accompanying such software.