The Payday Loan Contract Template is designed for use by licensed credit providers operating in Australia who offer small amount credit contracts (SACCs) under the National Consumer Credit Protection Act 2009. This template should be used when establishing short-term, small-amount loans typically ranging from $100 to $2,000 with terms of 16 days to 12 months. The document includes mandatory provisions for responsible lending, fee caps, disclosure requirements, and consumer protections specific to the Australian regulatory environment. It addresses key compliance requirements from ASIC, incorporates necessary privacy provisions, and provides flexibility for customization while maintaining regulatory compliance. The template is regularly updated to reflect changes in legislation and regulatory guidance, making it suitable for ongoing use by payday lenders operating in the Australian market.

1. Parties: Identification of the credit provider and borrower, including full legal names, addresses, and ACN/ABN for the credit provider

2. Background: Context of the loan agreement and acknowledgment of the loan purpose and SACC nature of the contract

3. Definitions: Key terms used throughout the agreement, including statutory definitions from the NCCP Act

4. Loan Amount and Term: Specification of the principal amount, loan term, and confirmation that it meets SACC requirements

5. Fees and Charges: Detailed breakdown of all applicable fees, charges, and the maximum caps as per NCCP regulations

6. Repayment Terms: Payment schedule, frequency, methods of payment, and total amount payable

7. Default and Enforcement: Consequences of default, enforcement procedures, and statutory protections for borrowers

8. Representations and Warranties: Borrower's confirmations regarding their financial situation and understanding of the contract

9. Privacy and Information Handling: Consent for information collection, credit checks, and privacy compliance statements

10. Termination: Conditions for early repayment, contract termination, and associated processes

11. General Provisions: Standard contract clauses including notices, amendments, and governing law