Terms and Conditions
By using the Bamboo application, or any related services, you consent to the terms contained in the documents on this page. Please read and review this entire page carefully.
Terms of Service
These terms and conditions govern access to and use of the Application and Services which are provided to you by Bamboo 61 Pty Ltd ABN 86 626 100 981, G/45 St Georges Terrace, Perth, WA 6000 (Bamboo, we, our).
Together with the Digital Content you provide and the selections that you make in the Application, they constitute a legally binding agreement between you and Bamboo (agreement).
By accessing and using the Application in any manner, you accept and agree to be bound by the terms of this agreement and the terms of our Service Providers, as displayed below.
If you do not unconditionally accept this agreement and those terms in their entirety, you shall not (and have no right to) access or use the Application or the Services in any manner.
If you obtained access to the Application without having a prior opportunity to review this agreement and those terms, and are now unwilling to agree to any part of them, then you should log out immediately and not use the Application or the Services.
No one other than Bamboo has the right to provide access to the Application to you. If you did not acquire access to the Application from Bamboo, then you are not authorised to use it.
Account means the account that Bamboo creates for you when you input your name, email, telephone number into the Application.
Application means the mobile telephone and tablet application through which we provide the Services and includes all documentation, information and other materials provided in connection with the Services.
Assets means such cryptocurrencies and other assets that we make available through the Application from time to time.
BAM means the cryptographic asset known as BAM.
BAM Application Wallet means the multi-signature wallet on the Ethereum blockchain provided to you in the Application.
Contributions means Fiat Currency you contribute to your Account.
Custom Portfolio means the combination of different types of Assets that you nominate from time to time and in accordance with which you may direct us to manage the Assets in your Account.
Digital Content means all information and data in any media and form that you input into the Application.
Fees means the types and amounts of fees listed in the Settings Menu of the Application or set out in the FAQ of the Website from time to time and may include, but are not limited, to trading/exchange fees and asset management fees.
Feedback means any information that you provide to Bamboo regarding the operation of the Application, and errors, problems, defects, or suggestions for changes and improvements to the Application.
Fiat Currency means any legal tender whose value is backed by the government that issued it and that we determine to use for the Services in our absolute discretion.
Model Portfolio means a combination of different types of Assets that we recommend, based on various factors including but not limited to market capitalisation, volume or time in market.
Proof of Solvency means a cryptographic protocol that allows us to make publicly verifiable assertions about the status of your Assets.
Third Party Service Provider means any company we contract to assist us to provide the Services.
Services means the facilities described in clause 2.
Withdrawals means Fiat Currency you withdraw from your account
You, your and similar terms mean the person who inputs their name, email and mobile telephone number and links their bank accounts in the Application and any person that person authorises to use the Application.
During the term of this agreement, we grant you a non-exclusive non-assignable licence to use the Application and will provide you with the following facilities in the manner we make available on the Application from time to time:
- Transfer Fiat Currency from your Bank Accounts to your Account in accordance with your directions (Contributions);
- Purchase Assets on your behalf in accordance with your Contributions and directions;
- Hold the Assets that we purchase for you in secure storage;
- Provide you with information about your transactions on the Application and the Assets we hold on your behalf, including Proof of Solvency;
- Recommend one or more Model Portfolios and enable you to specify a Custom Portfolio;
- Provide recommendations for management of your Assets in accordance with the Model Portfolios or Custom Portfolio you direct us to use;
- Manage your Assets in accordance with your directions; and
- At your request, sell all or some of the Assets that we hold for you and remit the value of those Assets to your nominated bank account in Fiat Currency.
You may withdraw Fiat Currency from your Account at any time. We are under no obligation to and will not transfer any Assets held in your Account to you in specie.
3. Direct Debit Authorisation
3.1 Direct Debit Authorisation
Split Payments Pty Ltd (User ID 492448) provides direct debit services to us. You request and authorise Split Payments Pty Ltd to arrange, through their own financial institution, a debit to your nominated account of any amount Split Payments Pty Ltd, has deemed payable by you.
This debit or charge will be made through the Bulk Electronic Clearing System (BECS) from your Funding Bank Account and will be subject to the terms and conditions of Spit Payments Pty Ltd’s Direct Debit Request Service Agreement.
4.1 Two Bank Accounts
You must link at least one bank accounts to your Account to be used for the following purpose:
- Receipt of 'round-ups' of payments you make for products (Round-Up Bank Account); and
- Funding purchases of Assets on your behalf (Funding Bank Account).
4.2 One Fiat Currency per Account
Unless we agree otherwise in writing, you may only make Contributions to and receive Withdrawals from your Account in one Fiat Currency. If you wish to transact with us in more than one Fiat Currency, you must open a separate Account with us for each Fiat Currency.
4.3 Compliance with the law
The laws in your country may prevent you from using all or some functions of the Application. It is your responsibility to know and comply with the laws in your country of residence and/or country from which you access the Application.
By using the Application, you warrant that you understand and accept the following risks:
- The trading of cryptographic assets involves significant risk.
- Prices can and do fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your cryptographic assets at any given moment. Any currency - crypto or not - may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market.
- Cryptographic asset trading also has special risks not generally shared with conventional currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, cryptocurrencies are a unique kind of "fiat" currency, backed by technology and trust. There is no central bank that can take corrective measure to protect the value of cryptocurrencies in a crisis or issue more currency.
- Cryptographic asset are an as-yet autonomous and largely unregulated worldwide system of cryptographic asset and individuals. Traders put their trust in a digital, decentralized and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.
- Cryptographic asset trading is probably susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in cryptographic assets because of unexpected changes imposed by the software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral.
- Confidence might also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling. There may be additional risks that we have not foreseen or identified in this agreement.
- We use our banking providers in order to receive Fiat Currency and remit the value of your Assets to you. Our banking providers do not transfer cryptocurrencies, exchange cryptocurrencies, or provide any services in connection with cryptocurrencies.
You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading cryptographic assets.
6.1 Acceptance of Fees
Each time you use the Application, you are deemed to have:
agreed to pay the Fees attributable to that use on the terms set out in the Settings Menu of the Application or set out in the FAQ of the Website; and
authorised Bamboo to collect those Fees from you in accordance with this clause.
6.2 Unit of account
All management fees are calculated in BAM and includes GST.
6.3 Fees subject to Change
Bamboo may change the Fees at any time by providing 14 days prior notice by email. By using the Application after the notice takes effect you are deemed to have accepted the changed Fees.
6.4 Payment of Fees
Bamboo will collect the management Fees in BAM from your BAM Application Wallet.
If there is insufficient BAM in your BAM Application Wallet to pay the Fees when they are due, Bamboo will add the Fiat Currency equivalent of the unpaid amount to your next scheduled Direct Debit or payment.
If Bamboo reasonably determines that the Fees cannot be collected using the above mechanisms, Bamboo may sell (or transfer) sufficient Assets in your Account to pay any outstanding Fees.
7.1 Acceptable Use
- use reasonable efforts to prevent unauthorised access to or use of the Application, including keeping access logins and passwords confidential and not permitting any third party whatsoever to access or use access logins, passwords or your Account;
- promptly notify us if you become aware of or reasonably suspect any security breach, including any loss, theft, or unauthorised disclosure or use of you access login or password;
- use, or otherwise access in connection with your use of, the Application only in accordance with applicable laws and government regulations;
- be solely responsible and liable for all activity that you engage in through your Account; and
- comply in all respects with all applicable requirements of the Third Party Services Providers that you access or subscribe to in connection with your Account.
7.2 Restrictions on Use
Except as otherwise specifically permitted under this agreement, you must not use, copy, modify, create derivative works of, distribute, sell, assign, pledge, sublicense, lease, loan, rent, timeshare, deliver or otherwise transfer the Application except in accordance with this agreement, nor permit any third party to do any of the foregoing.
You may not:
- derive or attempt to derive the source code of all or any portion of the Application by any means;
- permit any third party to derive or attempt to derive such source code; or
- reverse engineer, decompile, disassemble, or translate the Application or any part of it.
You agree that Bamboo owns all rights, title and interests, including but not limited to copyright, patent, trade secret, and all other intellectual and industrial property rights, in and to the Application.
8.2 Rights to Digital Content
You agree that subject to the limited licences expressly granted in clause 8.4, you retain all right, title and interest in and to, any and all intellectual property right in your Digital Content and Feedback.
8.3 Rights to Feedback
You agree that, subject to clause 8.4, your Feedback will be the sole property of Bamboo and may be used and retained by Bamboo in any manner it wishes, including incorporating it into its products and services.
You provide Bamboo with a non-exclusive, non-transferable licence to use your Digital Content and Feedback to the extent necessary to:
- provide the Account to you and support your use of the Account; and
- improve the accuracy of the Application, provided that your Digital Content is de-identified in a manner that ensures that you cannot be identified as its author.
9. No Warranties
9.1 Australian Consumer Law
Nothing in this agreement is intended to exclude, limit or modify rights which you may have under the Australian Consumer Law or any other statute which may not be excluded, limited or modified by agreement.
9.2 Functionality and Availability
You acknowledge and agree that:
- the Application is provided “as is”; Bamboo does not warrant that the Application will operate correctly, will be available 100% of the time, will function without interruption or that it is error-free; Bamboo does not warrant that there will be no delays, failures, errors omissions of loss of transmitted information;
- Bamboo may suspend use of the Application for maintenance and will endeavor to give you reasonable notice of the suspension. This may not be possible in an emergency; and
- Bamboo does not warrant that the Application will be able to access Third Party Service Provider platforms for the duration of this agreement.
9.3 Force Majeure
Bamboo is not liable for any failure to provide, or delay in providing the Application or the Services if:
- The failure or delay arose from a cause beyond Bamboo’s reasonable control, including an act of God, strike, lockout, other industrial disturbance or labour difficulty, war, act of public enemy, blockade, revolution, riot, insurrection, civil commotion, lightning, storm, flood, fire, earthquake, explosion, embargo, unavailability of any essential equipment or materials, unavoidable accident, lack of transportation, or anything done or not done by or to a person, government or other competent authority other than Bamboo;
- Bamboo took all reasonable precautions against that cause and did its best to mitigate its consequences. This does not require Bamboo to settle a labour dispute if, in Bamboo’s opinion, that is not in its best interests; and
- Bamboo gave you notice of the cause as soon as practicable after becoming aware of it.
If the cause and the resulting failure or delay lasts for more than three (3) months, Bamboo is entitled to end this agreement immediately by giving you written notice.
10. Limitation of Liability and Indemnity
10.1 Limitation of Liability
Without limiting the foregoing, Bamboo's liability to you for all loss or damage incurred by you including without limitation, loss of profits or data or the cost of substitute services, whether in contract or tort (including negligence), including direct, consequential, special, exemplary, incidental and indirect damages, arising out of or in connection with this agreement, or your use of the Application and Services under this agreement shall not exceed:
- where any guarantee is implied by the Australian Consumer Law and cannot lawfully be excluded, the greater of the cost of supplying the Services again or payment of the cost of having the Services supplied again, and
- in all other cases, the total aggregate Fees with actually paid by you to Bamboo under this agreement in the 12 month period immediately preceding the event giving rise to any such loss or damage.
To the full extent permitted by applicable law, you agree to indemnify Bamboo, and its Service Providers against any action, liability, cost, claim, proceeding for loss, damage, or expense suffered or incurred if direct or not directly arising from your use of the Application or from your breach of this agreement, except that your liability may be reduced to the extent that the loss, damage or expense is caused or contributed to by the acts or omissions of Bamboo or its Service Providers.
You acknowledge and agree that the disclaimer of warranties, the limitations on liability and limited remedies contained in this agreement are a fundamental element of Bamboo’s agreement to provide the Application to you, and Bamboo would not be able to provide the Application to you without these limitations.
Unless terminated earlier accordance with this clause, this agreement shall commence on the date you open an Account and shall operate until terminated in accordance with this clause
Either party may terminate this agreement immediately upon written notice to the other party if the other party materially breaches any provision of the agreement and fail to cure such breach within ten (10) days of receipt of notice to do so.
We may terminate this agreement for no cause, on thirty (30) days written notice to you.
12.3 Cessation of Use
Upon termination of this agreement, you agree that:
- You will not be able to access the Application for any purpose whatsoever including without limitation to view Digital Content or Feedback; and
- You will pay Bamboo all unpaid amounts owing.
The following provisions will survive the termination of this agreement: clauses 6, 8, 10 and 12 and any other provision required for their construction or enforcement that by its terms would survive termination or expiration of such an agreement.
13. Dispute Resolution
If a dispute (Dispute) arises out of or relates to this agreement (including any dispute as to breach of termination of the agreement or as to any claim in tort, in equity or pursuant to any statute) a party to the agreement may not commence any court or arbitration proceedings relating to the dispute unless it has complied with this clause 12 except where the party seeks urgent interlocutory relief.
13.2 Notice of Dispute
A party to this agreement claiming that a Dispute has arisen under or in relation to this agreement must give written notice to the other party to this agreement specifying the nature of the Dispute.
13.3 Parties must endeavour to resolve
On receipt of that notice by that other party, the parties must endeavour to resolve the Dispute expeditiously using informal dispute resolution techniques such as mediation, expert evaluation or determination or similar techniques agreed by them.
13.4 Referral to mediation
If the parties do not agree within five (5) business days of receipt of the notice (or such further period as agreed in writing by them) as to:
- the dispute resolution technique and procedures to be adopted;
- the timetable for all steps in those procedures; and
- the selection and compensation of the independent person required for such technique,
the parties must mediate the Dispute in accordance with the Model Mediation Rules of the Law Society of Western Australia and the President of the Law Society of Western Australia or the President’s nominee will select the mediator and determine the mediator’s remuneration.
14. Updates to this Agreement
Bamboo may change this agreement at any time for a variety of reasons, such as to reflect changes in applicable law or updates to your Account, and to account for new functionality of the Application.
Any change will be notified to your email address. You will be deemed to have received any email sent when Bamboo sends the email, whether or not you actually receive the email.
Changes will be effective 7 days after they are provided to you. If you do not want to agree to any changes made to this agreement, you may terminate this agreement by providing a written notice of termination to Bamboo.
15.1 Giving notices
A notice, consent, information, application or request that must or may be given or made to a party under this agreement is only given or made if it is in writing and either delivered or posted to that party or emailed to that party.
16.1 Entire agreement
This agreement contains everything the parties have agreed in relation to the matters it deals with. No party can rely on an earlier document, or anything said or done by another party, or by a director, officer, agent or employee of that party, before this agreement commenced, except as permitted by law.
This agreement supplants and supersedes any previous written or oral negotiations or preliminary agreement between the parties, which ceased to be legally effective from the date on which the parties enter into this agreement.
If a clause or part of a clause of this agreement can be read in a way that makes it illegal, unenforceable or invalid, but can also be read in a way that makes it legal, enforceable and valid, it must be read in the latter way. If any clause or part of a clause is illegal, unenforceable or invalid, that clause or part is to be treated as removed from this agreement, but the rest of this agreement is not affected.
16.3 Assignments and variations
A party must not assign any of its rights or obligations under the agreement without the prior written consent of the other parties. No variation of the agreement will be of any force or effect unless it is in writing and signed by the parties to this agreement.
16.4 Governing law and jurisdiction
This agreement is governed by the laws of Western Australia. The parties submit to the non-exclusive jurisdiction of its courts and courts of appeal from them. The parties will not object to the exercise of jurisdiction by those courts on any basis.
These terms and conditions (Basiq Terms) govern access to and the use of services (Services) provided by Basiq Pty Ltd (ABN 95 616 592 011) (Basiq). Bamboo 61 Pty Ltd (ABN 86 626 100 981) (Bamboo) uses Basiq as a third party service provider to securely access the bank accounts of any user (User) who holds an account on the Bamboo platform.
By accessing and using the Application in any manner, you accept and agree to be bound by the Basiq Terms.
1. Provide Accurate Information
1.1 Each User agrees to provide and warrant that all information provided or otherwise submitted via the Services is true, accurate and complete.
1.2 Each User acknowledges and agrees that it is responsible for its use of the Services and that:
- each User uses the Services at their own risk;
- the Services will only be used for the User's own lawful purpose in accordance with these Basiq Terms and any other agreement between Bamboo and the User; and
- if there are any unauthorised access or use of the Services or any breach of security, the User must immediately notify Bamboo of such activity.
2. Proprietary Rights
2.1 The User represents and warrants it is permitted to use content delivered to the User via the Services. The User may not copy, reproduce, distribute or create derivative works from this content. The User agrees not to reverse engineer any of the source code or technology associated with the Services.
3. Content and Data
3.1 Your use of the Services supplied by Bamboo is subject to interoperation of services supplied by third party websites or applications. By using the services, you appoint Bamboo as your limited agent authorised to: access such third party websites or applications, servers, documents and information as designated by you; use your information; and perform all acts as required for Bamboo and Basiq to supply Services to you.
3.2 Each User is licensing to Bamboo and its service providers (including but not limited to Basiq) (Service Provider) any information, data, materials or other content the User provides through or to the Services (Content), the right to use, modify, display, manipulate and create derivative works using such Content and provide the Services to the User.
3.3 Each User acknowledges and agrees a Service Provider may also use, sell, license, reproduce, distribute and disclose aggregate, non-personally identifiable information that is derived through the User's use of the Services.
4.1 Each User acknowledges and agrees that:
- its use of the Services and all information, products or content are provided to such User in good faith on an 'as is' and 'as available' basis. To the fullest extent permitted by law, the User and Service Providers expressly disclaim all warranties of any kind as to the Services and all information, products and other content (including that of third parties) included in or accessible from the Services;
- the User is responsible for determining the suitability of any Services and such User relies on any Content or other information provided via the Services at its own risk;
- use of the Services, Content and other information provided by Bamboo and Service Providers is at their own risk and the restrictions applicable to Bamboo are equally applicable to the User;
Bamboo and Basiq makes no warranty that:
- the Services will meet the User’s requirements;
- the quality of the Services will meet the User's expectations;
- the Services will be uninterrupted or error-free;
- any information, product or content obtained via the Services will be accurate or reliable; and
- any errors in the software or technology will be corrected;
- the User downloads or otherwise obtains through the use of the Services the material or data at its own discretion and risk and that the User will be solely responsible for any infections, contaminations or damage to their computer, system or network; and
- Bamboo and Basiq are not responsible or liable for delays, inaccuracies, errors or omissions arising out of any User's use of the Services, any third party software, services or operating system.
5. Limited Warranties
5.1 The User warrants that:
- it has the power, right, authority and entitlement to execute these Basiq Terms and perform its obligations under these Basiq Terms;
- it has full corporate power to execute, deliver and perform its obligations under these Basiq Terms;
- these Basiq Terms constitute a legal, valid and binding obligation of it enforceable in accordance its terms by appropriate legal remedy; and
- in entering into and performing its obligation under these Basiq Terms it has not and will not be in breach of any relevant law or any obligation owed to another person.
6.1 Each User agrees to be liable for and to indemnify, defend and hold Basiq harmless from and against any and all claims, liabilities, suits, actions and expenses, including costs of litigation and reasonable legal costs, resulting directly or indirectly from:
- any violation of these Third Party Terms or of any intellectual property or other right by the User;
- any use or misuse of the Services, Content or data from or by the User, its employees, contractors or agents or any third party; and
- any breach of law, regulation or licence by a User. Each User agrees that Basiq is a third party beneficiary to the Basiq Terms, with all rights to enforce such provisions as if Basiq is a party to these Basiq Terms.
7. Basiq a Party
7.1 Each User acknowledges and agrees that:
- the User enters into these Basiq Terms with Bamboo who, for the purposes of accepting these Third Party Terms, is acting as limited agent for Basiq; and
- each User agrees that Basiq is a third party beneficiary to the above provisions, with all rights to enforce such provision as if Basiq were a party to these Basiq Terms.
Split Payments Terms
These terms and conditions (Split Payments Terms) govern access to and the use of services (Services) provided by Split Payments Pty Ltd (ABN 61 604 057 598) (Split Payments). Bamboo 61 Pty Ltd (ABN 86 626 100 981) (Bamboo) uses Split Payments as a third party service provider to securely debit amounts from the Australian bank accounts of any user (User) who holds an account on the Bamboo platform.
By accessing and using the Application in any manner, you accept and agree to be bound by the Split Payments Terms.
1. Initial Terms
Split Payments will debit your nominated account for the amounts and at the frequency of payments as agreed between us on the Split Payments DDR Contract authorised and accepted by you.
2. Change of Terms
Split Payments Terms may be changed immediately with the approval of the Payment Initiator or within the parameters of the Digital Agreement issued by the Payment Initiator and approved by the User. This is managed through the Split Payments Platform.
3. Deferring or Stopping a Payment
Should you wish to defer a payment to another date you must contact the Payment Initiator before the date of that payment to request the deferment. Deferments are entirely at the discretion of the Payment Initiator. You may request to stop an individual payment through the Split Payments platform however you will still be liable to make this payment to the Payment Initiator.
4. Altering the Schedule
Should you wish to alter the payment frequency or Day to Debit contact the Payment Initiator. Altering schedule is solely at the discretion of the Payment Initiator. The Payment Initiator may charge a fee for this service. The Payment Initiator shall notify you of these fees. Any changes made will not affect the total amount you would otherwise have paid over the minimum term of your Contract.
5. Cancelling the Payments
You can cancel this Direct Debit Request Authority at any time through the Split Payments platform. Cancellation of the authority to debit your account will not terminate your contract or remove your liability to make the payments you have agreed to with the Payment Initiator.
If you dispute any debit payment, you must notify the Payment Initiator immediately. The Payment Initiator will respond to your dispute within 7 working days and will immediately refund the amount of the debit if they are not able to substantiate the reason for it. If you do not receive a satisfactory response from the Payment Initiator to your dispute, contact Split Payments who will respond to you with an answer to your claim within 5 business days if your claim is lodged within 12 months of the disputed drawing, or within 30 business days if your claim is lodged after 12 months from the disputed drawing.
7. Business Days
When the day to debit falls on a weekend or public holiday the debit will be initiated on the next working day.
8. Dishonoured Payments
It is your responsibility to ensure that on the due date clear funds are available in your nominated account to meet the direct debit payment. Should your payment be dishonoured, you authorise Split Payments to debit your account when clear funds become available in your nominated bank account.
Enquiries may be directed to firstname.lastname@example.org.
10. Your Other Responsibilities
In addition to those already mentioned, you are responsible for ensuring that your nominated account is able to accept direct debits. If it is not, it is your responsibility to provide Split Payments with a new account number.