Deceased Estate Representative The person who is entitled at law to deal with the Deceased Estate, who may be: • a person(s) nominated as Executor in the last Will of the deceased person; • a person(s) who has presumptive entitlement to Letters of Administration; or • in limited circumstances, the Next of Kin. Our determination of a person(s) entitled to be a Deceased Estate Representative will depend on documents provided following the death of the customer and/or following an order from a court. There may be more than one Deceased Estate Representative (for example, if there are two Executors appointed in the Will). Default You are ‘in default’ if you fail to meet any of the Terms and Conditions of the contract. Default Based Action Exercising a legal or contractual right as a direct result of an event of Default. Default Interest Is the application of a higher annual percentage rate applicable under a Loan because you are in Default, for the period that the Default continues. Device A device given by us to you that is used to perform a transaction. Examples include: (a) ATM cards; (b) debit cards and credit cards, whether physical or virtual; (c) prepaid cards (including gift cards), whether physical or virtual; (d) electronic toll devices; (e) tokens issued that generates a pass code; and (f) contactless devices. Direct Debits The regular payments from a deposit account. This is where you have given your deposit account details (BSB and account number) to allow a Merchant or service provider to debit your account regularly to pay for the services they provide you. Director Guarantor A Guarantor of a Loan who is a director of a company which is to be the debtor for the Loan. eftpos Proprietary or domestic debit cards managed by eftpos Payments Australia Limited. Eligible Customer Has the meaning given to it in paragraph 65. Enforcement Proceedings For a Small Business: (a) commencing proceedings in a court to recover a debt or to recover possession of property subject to Security; or (b) otherwise enforcing Security by taking possession (or seeking to take) of Security property, exercising a power of sale over Security property, appointing receivers or receivers and managers, appointing voluntary administrators, or making application to a court for the appointment of provisional liquidators or the appointment of a trustee in bankruptcy; or (c) enforcing a judgment against you, a Guarantor, or your or their assets. 38 | ausbanking.org.au
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