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Sheargold Trust offers benefits including Repeat Purchase Rewards (section 3), Referral Rewards (section 5) and Priority Notification (section 6) for Sheargold Trust Members.
Capitalised terms used in these Terms have the meaning set out in section 8. If you have any questions about these Terms, please email us at hello@sheargold.co.
2.1 Who can apply?
Any Eligible Purchaser may apply to become a Member.
An Eligible Purchaser is an individual named as a purchaser in an Eligible Contract, whether purchasing solely or together with another person, and who is not an Excluded Purchaser. Further details about Excluded Purchasers are set out in section 8, below. We may vary the criteria for being an Eligible Purchaser from time to time in our absolute discretion. However, the criteria for determining whether you are an Eligible Purchaser will always be the criteria in place at the time you applied to become a Sheargold Trust Member.
2.2 What is an Eligible Contract?
Generally, an Eligible Contract is a contract to buy a residential property from us in a Participating Development entered into by an Eligible Purchaser after 1 January 2023. Further details about Eligible Contracts are set out in section 8, below. We may vary the Eligible Contract criteria or Excluded Contracts criteria from time to time in our absolute discretion. However, the criteria for determining whether a contract you enter into is an Eligible Contract will always be the criteria in place at the time you applied to become a Sheargold Trust Member.
2.3 Which projects are Participating Projects?
At present, the Participating Projects are Vista Park and Sussex Inlet Golf Village. We may add Participating Projects from time to time in our absolute discretion.
2.4 How do you become a Sheargold Trust Member?
(a) If you wish to become a Sheargold Trust Member, you must register as a user via Sheargold Connect and then contact us to apply for membership. Eligible Purchasers are not automatically entered as Sheargold Trust Members.
(b) Your application for membership must be assessed and accepted by us before you can earn any Sheargold Trust benefits.
(c) There are no fees associated with becoming or remaining a Sheargold Trust Member.
2.5 Acceptance of Terms
By claiming or accepting any Benefit under Sheargold Trust, you are deemed to have accepted these Terms.
3.1 Who can apply for a Repeat Purchaser Reward?
You are entitled to receive a Repeat Purchase Reward if you are a Sheargold Trust Member and you enter into more than one Eligible Contract.
3.2 What is a Repeat Purchase Reward?
A Repeat Purchase Reward is a rebate payable to you on Completion of an Eligible Contract for an amount equivalent to:
(a) in the case of your second Eligible Contract – 2.0% of the Contract Price; and
(b) in the case of your third and any subsequent Eligible Contract Eligible Contract – 3.0% of the Contract Price.
3.3 How do you apply for a Repeat Purchase Reward?
If you consider you may be eligible for a Repeat Purchase Reward, you must notify us in writing as soon as practicable after entering into an Eligible Contract and in any event prior to Completion of that Eligible Contract. We may request that you provide further details including details of any previous Eligible Contracts. We will then consider your application and advise you as soon as practicable whether you are entitled to a Repeat Purchase Reward.
3.4 Are there any limits on Repeat Purchase Rewards?
There is no limit to the Repeat Purchase Reward amount or on how many times you can apply for or receive a Repeat Purchase Reward. However, only one Repeat Purchase Reward is payable in respect of each Eligible Contract.
3.5 What if there is more than one purchaser?
If you are one of two or more purchasers named in an Eligible Contract, and more than one of the purchasers is a Sheargold Trust Member, the Repeat Purchase Reward will be the highest amount that any one of the purchasers who are Sheargold Trust Members are entitled to receive in respect of the Eligible Contract, and will be paid to all purchasers who are Sheargold Trust Members jointly.
3.6 When is the Repeat Purchase Reward paid?
For convenience, we will generally pay the Repeat Purchase Award to you by way of an allowance in your favour on Completion of the Eligible Contract. However, your Repeat Purchase Reward may be paid to you at any time within the 28 Business Day period following of Completion of the Eligible Contract.
3.7 What if I do not Complete my Eligible Contract?
If you do not Complete an Eligible Contract for any reason or if you default under an Eligible Contract then the contract will cease to be an Eligible Contract and you can no longer rely on that Eligible Contract for the purpose of receiving a Repeat Purchase Reward.
For example, if an Eligible Contract is validly terminated before Completion, or if you cease to be a purchaser under the Eligible Contract (such as by nominating or assigning your rights to an alternative purchaser) then the contract ceases to be an Eligible Contract for you.
4.1 Who can apply for Family Rewards?
If you are a Sheargold Trust Member and you:
(a) introduce to us, a person who is one of your Family Members (Referred Family Member) by completing the form via Sheargold Connect; and
(b) your Referred Family Member: (i) is not known already to us as a potential purchaser, (e.g. where they have previously been introduced or referred to us by another party or Agent, or they already appear on our sales database;
(ii) is or becomes an Eligible Purchaser;
(iii) enters into an Eligible Contract, either alone or with one more other people who all meet the conditions set out in section 4.1(b)(i) above; and
(iv) becomes a Sheargold Trust Member,
then:
(c) your Referred Family Member is entitled to a Repeat Purchase Reward (Referred Family Member’s Reward); and
(d) you are entitled to elect to: (i) include your Referred Family Member’s first Eligible Contract when calculating your next Repeat Purchase Reward (Your Family Reward); or
(ii) a Referral Reward.
4.2 What is Your Referred Family Member’s Reward?
Your Referred Family Member’s Reward is a rebate payable to your Referred Family Member on Completion of their first Eligible Contract for an amount equivalent to the Repeat Purchase Reward that you would be entitled to if you were the purchaser under that Eligible Contract.
For example, if you have Completed one Eligible Contract then, on Completion of your Referred Family Member’s first Eligible Contract (Referred Family Member’s Contract), your Referred Family Member is entitled to a Family Reward equivalent to the Repeat Purchase Reward that you would have been entitled to if the Referred Family Member’s Contract was your second Eligible Contract, that is your Referred Family Member’s Reward is a rebate equivalent to 2.0% of the Contract Price under the Referred Family Member’s Contract.
Also for example, if you have Completed two Eligible Contracts (Your Eligible Contracts), on Completion of your Referred Family Member’s first Eligible Contract (Referred Family Member’s Contract) your Referred Family Member is entitled to a Family Reward equivalent to the Repeat Purchase Reward that you would have been entitled if the Referred Family Member’s Contract was your third Eligible Contract, that is your Referred Family Member’s
Reward is a rebate equivalent to 3.0% of the Contract Price under the Referred Family Member’s Contract.
In both of these examples, your Referred Family Member would not otherwise have been entitled to a Repeat Purchase Reward.
4.3 What is Your Family Reward?
You are entitled to include your Referred Family Member’s first Eligible Contract when calculating your next Repeat Purchase Reward.
For example, if you have Completed one Eligible Contract (Your Contract) and your Referred Family Member has also Completed one Eligible Contract (Referred Family Member’s Contract) then on Completion of your second Eligible Contract (Your Second Contract) you are entitled to a Repeat Purchase Reward as if Your Second Contract were your third Eligible Contract, that is you are entitled to a Repeat Purchase Reward equivalent to 3.0% of the Contract Price under Your Second Contract.
In this example, the Repeat Purchase Reward that would otherwise have been payable to you would have been 2.0% of the Contract Price under your Second Contract.
4.4 How do you apply for Family Rewards?
You must notify us in writing prior to Completion of the Referred Family Member’s Eligible Contract that your Referred Family Member has entered into the contract and provide any details that we request including details of your Referred Family Member and of any previous Eligible Contracts that you have Completed. We will consider your application and advise you and your Referred Family Member as soon as practicable whether the Family Rewards apply.
4.5 Are there any limits on Family Rewards?
There is no limit on the number of Family Members that you can introduce to us or the number of times that you can apply for or receive Family Rewards. However, you are only entitled to receive one Family Reward for one Family Member per Eligible Contract.
However, Family Rewards only apply on Completion of each Referred Family Member’s first Eligible Contract and do not apply on Completion of subsequent Eligible Contracts by the same Referred Family Member. Family Rewards do not apply if you have elected to receive a Referral Reward instead.
4.6 When are Family Rewards paid?
Your Referred Family Member’s Reward will be paid to your Referred Family Member within 28 Business Days of Completion of their first Eligible Contract. For convenience, we will generally pay your Referred Family Member’s Reward to your Referred Family Member by way of an allowance in favour of your Referred Family Member on Completion of their first Eligible Contract.
Your Family Reward is an adjustment to the calculation of your next Repeat Purchase Reward, if any.
4.7 What if I don’t Complete my Eligible Contract?
If:
(a) at the date you introduce a Referred Family Member to us, you had entered into an Eligible Contract but not yet Completed that Eligible Contract; and
(b) you default under that Eligible Contract or you do not Complete that Eligible Contract for any reason,
then your Referred Family Member will not be entitled to receive a Family Reward on Completion of their Eligible Contract.
4.8 What if my Referred Family Member does not Complete their Eligible Contract?
If a Referred Family Member enters into an Eligible Contract but does not Complete that Eligible Contract for any reason then you will not be entitled to receive a Family Reward in respect of that Referred Family Member’s first Eligible Contract.
5.1 Who can apply for a Referral Reward?
You are entitled to receive a Referral Reward if you are a Sheargold Trust Member and you:
(a) introduce us to a person (Referred Purchaser) by completing the form via Sheargold Connect; and
(b) the Referred Purchaser: (i) is not known already to us as a potential purchaser, (e.g. where they have previously been introduced or referred to us by another party or Agent, or they already appear on our sales database;
(ii) is or becomes an Eligible Purchaser;
(iii) enters into an Eligible Contract, either alone or with one more other people who all meet the conditions set out this clause; and
(iv) becomes a Sheargold Trust Member; and
(c) you have not elected to receive a Family Reward.
5.2 What is a Referral Reward?
The current Referral Reward is a prepaid EFT card or voucher for AU$2,000.00. We may increase the value or change the nature of the Referral Reward from time to time, but we will not reduce the value of the Referral Reward.
5.3 How many Referral Rewards can you apply for?
There is no limit to the number of Referral Rewards that you can earn. However, you are only entitled to receive one Referral Reward per Eligible Contract. However, a Referral Reward is only earned on the first Eligible Contract a Referred Purchaser enters into, and not on any subsequent Eligible Contracts that the Referred Purchaser enters into.
5.4 When will the Referral Reward be paid?
Your Referral Reward will be sent to you by mail or email within 28 Business Days of the Referred Purchaser entering into the Eligible Contract. Referral Rewards will be sent to your address as shown in Sheargold Connect – please make sure it is up to date!
5.5 Anything else?
We ask that you do not introduce anyone to us where you don’t have any reasonable basis for believing that person is genuinely interested in purchasing a property from us. You must also indemnify us from and against any claims, losses or expenses that are made or we may suffer or incur as a result of an improper referral.
We will notify Sheargold Trust Members of sales releases before we notify our wider customer base or the general public. However, each release may have specific terms and conditions related to that release.
7.1 Your rights and obligations as a Sheargold Trust Member
(a) You must not: (i) act in any way that breaches or is not in accordance with these Terms;
(ii) provide us with information that you know or ought to know is untrue or incorrect;
(iii) abuse or misuse the Sheargold Trust;
(iv) engage in illegal or fraudulent activities including the supply of false or misleading information to us; or
(v) sell, assign or transfer, or offer to sell, assign or transfer any Benefits.
(b) You must keep your Personal Information up-to-date. If your Personal Information is not up to date you may not receive benefits under the Sheargold Trust.
(c) You can cancel your membership of Sheargold Trust at any time by sending an email request to hello@sheargold.co.
7.2 Our rights and obligations
(a) We will only use your Personal Information in accordance with our Privacy Policy which is available at www.sheargold.co/privacy-policy.
(b) We may (in our absolute discretion) refuse to accept any person becoming Sheargold Trust Member.
(c) If we, in our reasonable opinion, consider that a Sheargold Trust Member has breached these Terms we may: exclude or remove that Sheargold Trust Member from Sheargold Trust; refuse to pay or honour any Benefit accumulated by that Sheargold Trust Member; reverse any Benefit accumulated or awarded by that Sheargold Trust Member; or suspend or terminate that Sheargold Trust Member’s participation in Sheargold Trust.
(d) We may (in our discretion) at any time cancel, substitute or vary any of the terms and conditions of Sheargold Trust (in whole or in part) or exclude, substitute, vary or withdraw any Participating Development or any Excluded Development.
(e) We will use our best endeavours to give you notice of any cancellation, substitution or variation of Sheargold Trust by email and provide notice on our Website or our Portal. You will be taken to have received notice once sent to you by email or you access our Website or our Portal after notice has been provided on the Website and/or the Portal, as the case may be.
(f) Our decision on any matter regarding Rewards is final and binding, including any disputes relating to the identity of Sheargold Trust Members or entitlement of Benefits.
7.3 Commencement
Sheargold Trust is deemed to have commenced on 1 January 2023. All Eligible Contracts entered into on or after that date may entitle the purchaser under the Eligible Contract to obtain a Reward. Eligible Contracts entered into before 1 January 2023 will be used for determining the purchaser’s entitlement to become a Sheargold Trust Member and for determining the Repeat Purchase Reward level for any Eligible Contracts entered into after 1 January 2023.
7.4 Miscellaneous
(a) To the extent permitted by law, we are not liable for any cost, loss or damage incurred by any person relating to any withdrawal, cancellation, variation or change to these Terms or any breach of these Terms by any person other than us or providing or not providing, any Benefit.
(b) Any tax, duty or liability whatsoever in relation to any Benefit received by you under Sheargold Trust will be your sole responsibility. You should contact your accountant or taxation advisor if you have any queries relating to the tax implications of Sheargold Trust.
(c) If any part or parts of these Terms are held to be unlawful, void or unenforceable for any other reason then that part or parts may be severed from these Terms and Conditions without affecting the validity and enforceability of the remaining provisions.
(d) Any waiver by us of any of our rights under these Terms shall not be deemed a waiver of any other term or provision, and shall be limited to a single waiver and to the specific circumstance under which such waiver was granted.
(e) These Terms are governed and to be construed under the laws of New South Wales.
(f) Unless otherwise specified in these Terms, a singular word includes plural and vice versa, if a word or phrase is defined then any grammatical variation of that word or phrase has a corresponding meaning, use of the word ‘including’ does not limit the scope of that thing but means ‘including, without limitation’ or ‘including but not limited to’, $ or dollars means Australian dollars and all amounts exclude any applicable GST.
The following definitions apply to terms used in these Terms:
Agent means a real estate or selling agent legally engaged by us to sell property on our behalf, regardless of whether remuneration is by way of salary, wages, commission or otherwise.
Benefit means any benefit or reward offered under Sheargold Trust, including those listed in clause 1.
Builder means a company or individual who owns or operates a business of building homes.
Business Day means a day that is not a Saturday, a Sunday, or a public holiday or bank holiday in New South Wales.
Completion means completion of an Eligible Contract in accordance with its terms. Complete has the corresponding meaning.
Contract Price means the price payable by the purchaser under an Eligible Contract before any Benefits, rebates or variations are applied.
Eligible Contract means a contract for the purchase of a residential lot in a Participating Development from Sheargold but excluding any contract which:
(a) has a sale price of AUD$100,000 or less;
(b) is entered into as a result of a tender; or
(c) is in commercial quantities by a purchaser (what constitutes ‘commercial quantities’ is determined by us at our reasonable discretion).
Eligible Purchaser means an individual named as purchaser under an Eligible Contract, whether purchasing solely or together with another person, who is not an Excluded Purchaser.
Excluded Purchaser means a person who is:
(a) an Agent or any third party who would receive remuneration for a customer’s sale; or
(b) a Builder; or
(c) currently employed by us,
and any Immediate Family and/or Related Party of any person listed. For the avoidance of doubt, an Excluded Purchaser is not eligible to be a Sheargold Trust Member.
Family Member means a person who, in relation to a Sheargold Trust Member, is:
(a) a spouse or de facto partner;
(b) a parent (including the biological, adoptive, foster, custodial or non-custodial parent);
(c) a sibling (including the biological, adopted, foster or step sibling);
(d) a child (including the biological, adopted, foster or step child);
(e) an aunt or uncle i.e. a sibling (including the biological, adopted, foster or step sibling) of a person referred to in paragraph (b);
(f) a cousin i.e. a child (including the biological, adopted, foster or step child) of a person referred to in paragraph (e);
(g) a niece or nephew i.e. a child (including the biological, adopted, foster or step child) of a person referred to in paragraph (c), or;
(h) a grandparent i.e. a parent (including the biological, adopted, foster or step child) of a person referred to in paragraph (b).
Family Reward means;
(a) in relation to you, Your Family Reward; and
(b) in relation to a Referred Family Member, Your Referred Family Member’s Reward.
Immediate Family means in respect of an Excluded Purchaser, includes spouse or de facto (as defined in section 4AA of the Family Law Act 1975 (Cth)), parent, spouse or de facto or son or daughter and their respective spouse or de facto.
Participating Projects means those residential developments within Australia nominated by us from time to time.
Personal Information is defined in the Australian Privacy Act 1988 (Cth) and includes any similarly defined personal information in any other jurisdiction in Australia.
Privacy Policy means our privacy policy is available online at https://sheargoldgroup.com/page/privacy-policy/.
Sheargold Connect means our customer portal accessible via our Website.
Sheargold Trust means the reward program operated by us, the terms and conditions of which are set out in this document.
Sheargold Trust Member means a person whose application for membership of Sheargold Trust has been approved by us.
Referred Purchaser has the meaning in clause 5.1.
Related Party has the meaning in s50 of the Corporations Act (Cth).
Repeat Purchase Reward has the meaning in clause 3.
Terms means these terms and conditions.
us/we/our means Sheargold Property Developments Pty Ltd ACN 000 260 462 and its related entities or businesses.
you/you means the person who becomes a member of Sheargold Trust.
Your Family Reward has the meaning in clause 4.1(d)(i).
Your Referred Family Member’s Reward has the meaning in clause 4.1(c).
Website means our website located at https://sheargold.co.
