1.1. In these Terms, unless the context requires otherwise:

• • “Box” means a safe deposit box of your chosen dimension located within the Vault

• • “Eligible Person” means any natural person that is at least 18 years old and lawfully resident in New Zealand.

• • “Hirer” / “you” means an Eligible Person to whom IVL supplies its Services pursuant to these Terms.

• • “Imperial Vaults” means the safe deposit box facility located on the ground floor of Tulja Center at 190 Stoddard Road, Mount Roskill, Auckland.

• • “IVL” / “us” / “our” means Imperial Vault Limited as the owner of Imperial Vaults.

• • “Lifetime Agreement” means a fixed-term lease agreement commencing on the date of that contract and expiring on 1 July 2099.

• • “Nominated User” means an Eligible Person nominated by the Hirer as an authorised user of the Box under clause 5.1 of these Terms.

• • “Privacy Policy” means the IVL Privacy Policy as amended from time to time and available on the IVL Website.

• • “Relevant Authority” means any governing body which has jurisdiction including, but not limited to, Department of Internal Affairs, Serious Fraud Office New Zealand, New Zealand Police and Inland Revenue Department.

• • “Rental Agreement” means the rental agreement entered into between a Hirer and IVL for a specified Box at Imperial Vaults.

• • “Security Provider” means one or more registered New Zealand security monitoring companies and any other service providers engaged by IVL to manage the security of Imperial Vaults.

• • “Services” means the fixed rental term of a Box for storage of personal items at the Imperial Vaults.

• • “Sleeve” means the metal sleeve which inserts into the specified Box.

• • “Terms” means these standard terms and conditions of IVL to be read together with the forms part of the Rental Agreement, Lifetime Agreement, Terms of Use and Privacy Policy.

• • “Terms of Use” means the terms of use of the IVL Website as amended from time to time.

• • “User” means the Hirer and any Nominated User who uses our Services in relation to a specified Box.

• • “Vault” means a depository/strong room in Imperial Vaults in which your Box is located.
  • “Website” means the Imperial Vaults website.

1.2.  All headings are provided for convenience only and shall have no effect on the interpretation of these Terms.

AGREEMENT

2. Deemed Acceptance

2.1. By viewing and using the Website and/or entering into a Rental Agreement or Lifetime Agreement, you are deemed to accept these Terms and agree to being bound by them. Your continued use of our Services evidences your agreement to be bound by these Terms as amended from time to time.

2.2. These Terms may be amended in whole or in part by IVL from time to time without prior notice to you. Amendments will be effective immediately upon posting of the amended Terms on the Website.

2.3. You are responsible for ensuring you are familiar with our latest Terms.

3. ANTI MONEY LAUNDERING (AML/CFT) POLICY

3.1. IVL is committed to the highest standards of compliance in order to comply and meet its obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“Act”).

3.2. As part of our compliance, we are required to identify every user that has access to a Box, or has effective control over a Box, as specified under the Act

3.3. Before providing any Services to you, we will require your personal information, including proof of identity and proof of address for compliance under the Act. Until such time as we have all of the necessary information we required to satisfy our compliance obligations, we are unable to provide our Services to you

3.4. You warrant and represent that any such information provided to us is complete and accurate. We may also use an electronic verification service and/or approach a credit reference agency to confirm your identity and by dealing with us you acknowledge and agree to this.

4. COOLING OFF PERIOD

4.1. You may terminate our Services at any time within 14 working days of signing a Rental Agreement or Lifetime Agreement (“Cooling Off Period”). If you cancel within the Cooling Off Period, we will refund your Box Key bond (in full) and rental amount paid (on a pro rata basis for the unused period) to the bank account we received payment from within 7 working days of cancellation.

5. SERVICES AND USE OF BOX

5.1. Access to Imperial Vaults and the use of any Box shall at all times be restricted to two (2) Eligible Persons provided that:

• • 5.1.1. at least one of the users of the Box must be the Hirer and only one other Eligible Person may be nominated by the Hirer as Nominated User with full access to that Box from time to time; and

• • 5.1.2. the Hirer has submitted all necessary information of the Nominated User. The Nominated User has had their palm scanned, provided a specimen signature (if required by IVL as an added protection measure) and the Nominated User has been approved in writing by IVL as a user of our Services; and

• • 5.1.3. the Hirer or first named individual on the Rental Agreement and/or Lifetime Agreement shall be considered the Hirer of the Box and decision maker in respect of the Box and assoc0iated account.

5.2. You acknowledge and agree that you are responsible for all acts and omissions of your Nominated User as if they were the acts and omissions of you as Hirer.

5.3. When a Nominated User is appointed, the obligations of the Hirer and Nominated User are joint and several.

5.4. When using a Box, you have the right to store your personal possessions at your discretion provided always that:

• • 5.4.1. You must not store any illicit funds, liquids, anything which is deemed inflammable, offensive, dangerous substances, explosives or anything of a corrosive nature, firearms, ammunition and any forms of weapons, Controlled Drugs (as per the Misuse of Drugs Act 1975 or any updated legislation), as well as any items which may become a nuisance to any other user such as items of perishable nature which is likely to be a health hazard.

• • 5.4.2. You may not use the Box for any unlawful purpose or for the storage of any illegal items, articles or documents.

• • 5.4.3. You hereby acknowledge and accept the risk for storage of electronic contents such as digital discs, USB storage, magnetic recording, or other similar form of data which may be wiped or adversely affected by being stored in the Box.

• • 5.4.4. Your personal property must fit well within the dimensions of your Box.

5.5. IVL may deny you access to your Box if we deem you to be using the Box for any purpose that is prohibited by law or other than in compliance with these Terms.

5.6. If these Terms are breached, IVL reserves the right to forcibly open the Box to comply with the direction of any Court Order, the Government or any Relevant Authority.

5.7. IVL may (but is not obliged to) request that you open the Box for inspection. Failure to comply with this request may result in IVL drilling and replacing the lock to the Box at your sole risk and expense. Please note this action by IVL may result in surrendering the Box contents to the Court, Government and/or Relevant Authority.

6. Access

6.1. Access to your Box at Imperial Vaults is generally available 7 days a week 10:00am to 6:00pm. We provide extended access hours on specified nights and public holidays which are updated on our Website from time to time.

6.2. IVL offers emergency access to the Vault outside of usual working hours by appointment only. Provided always that such appointment is requested at least two (2) hours prior (to the required access time) and the Hirer pays an additional call out fee of $180.00 to IVL prior to access being granted to the Vault

6.3. IVL may restrict or suspend access to your Box temporarily for the following reasons:

• • 6.3.1 Maintenance of Imperial Vaults facility and / or any emergency purposes;

• • 6.3.2 Security reasons and / or any factors which would hinder normal business operations as determined by IVL;

• • 6.3.3 As required by an order of the Court, the Government or any Relevant Authority;

• • 6.3.4 Attempted access to your Box by any person who is not the Hirer or Nominated User. Please note we have the right to refuse access to any user of a Box if IVL determine there are any security concerns;

• • 6.3.5 Attempted access to your Box by the Hirer or Nominated User who have not been approved or provided requested AML/CFT information to satisfy our compliance requirements under the Act;

• • 6.3.6 The Palm-Scan device is inactive and / or the Hirer or Nominated User has not complied with security procedures determined by IVL from time to time;

• • 6.3.7 The Hirer and/or Nominated User does not have the Box Key available at the time of accessing Imperial Vaults;

• • 6.3.8 We suspect that the Hirer and/or Nominated User is under duress and / or accompanied by an unauthorized or suspicious person; and

• • 6.3.9 Any other reasonable grounds at IVL’s sole discretion which may result in the temporary suspension of access to your Box for at least 6 hours.

6.4. IVL reserves the right to deny access to the Hirer and any Nominated User that behaves in an offensive, unruly or inappropriate manner which in the opinion of IVL affects the business operations of Imperial Vault and/or impacts the privacy or interrupts the use of the Services by other users.

6.5. You must not leave the Vault unless you have relodged the Sleeve using your Box Key and locked the Box.

6.6. You must not remove the Sleeve from Imperial Vault premises at any point of time.

6.7. You must provide at least 24 hours’ prior written notice of the appointment of a Nominated User and / or change to the existing Nominated User. Please note any Nominated User of a Box will only be permitted access to your Box once all our documentation has been updated and approved by IVL and palm scan for the Nominated User activated.

6.8. For your protection, if the Hirer and/or Nominated User enters the Vault by way of palm scan, IVL reserves the right to restrict access to the Vault of any other person/(s) accompanying the Hirer and/or Nominated User.

7. KEYS

7.1. Upon the Hirer signing a Rental Agreement, a refundable Box key bond of $150.00 is immediately payable to IVL. This Box key bond will be refunded to you when your Rental Agreement is terminated, provided always that you have performed all obligations as Hirer including payment of all outstanding amounts owed to IVL. This Box key bond is immediately forfeited to IVL in the event of any breach by a user of these Terms and may be set off against any expenses incurred by IVL.

7.2. Upon the Hirer signing a Lifetime Agreement a transferable Box key bond of $150.00 will be immediately payable to IVL.

7.3. You will be provided with two (2) Box keys. Please note IVL does not hold any further keys for your Box.

7.4. If you lose/misplace one key, your Box key bond will be forfeited. To avoid doubt if you wish to change your Box size or number a new Box Key bond of $150 must be paid immediately to IVL. If both keys to your Box is lost/misplaced your Key Bond will be carried over but a Locksmith call out fee will be charged before new Keys are provided.

7.5. We will engage a locksmith once we have written authority from you to do so and have received a replacement Key bond.

7.6. You must not personally arrange a locksmith to change the lock to your Box during the term of your Rental Agreement or Lifetime Agreement.

7.7. IVL will arrange an appropriate date/time with the locksmith so that the lock to your Box can be changed in your presence. You will be provided with a set of two (2) new keys for your Box once the charges for changing the lock and the cost of the new keys of $350.00 have been paid to IVL in full.

7.8. Duplicating your Box key is unlawful and must not be done at any time during and after the term of your Rental Agreement or Lifetime Agreement.

7.9. Box keys, any other security access devices or personal items must not be deposited with IVL staff or the Security Provider for safekeeping or for any other reason whatsoever.

8. RISK & INSURANCE

8.1. IVL and its Security Provider does not accept any liability for your Box or its contents. All risk relating to the use of our Services is to be borne entirely by the Box users.

8.2. We can assist you with liability cover as required for an additional cost. Further details of this cover and associated costs can be arranged when you enter into a contract with us or at any time thereafter on request.

8.3. If you do not take up the option referred to in clause 8.2 above, you are responsible for arranging your own insurance cover in respect of your Box and its contents.

8.4. As an added bonus, we will provide you with complimentary cover of $5,000.00 per Box/Hirer at no cost to you. Terms and conditions of cover apply and are available on request.

8.5. All claims made under the complimentary cover must be made in good faith and be substantiated with evidence of loss and proof that the items claimed were in fact stored in your Box at Imperial Vaults.

8.6. We are responsible for arranging liability cover for Imperial Vaults premises only (including its fixtures and fittings) to cover all risk that IVL considers usual, including fire and earthquake, reasonable public liability cover and loss of earnings cover.

8.7. You acknowledge and agree that:

• • 8.7.1. IVL will never be privy to the contents of your Box and therefore are unable to independently insure its contents.

• • 8.7.2. IVL will never have possession, custody or control of anything kept in your Box and has no liability to users whatsoever.

• • 8.7.3. IVL and/or its Security Provider will not be a bailee of any of the contents of your Box.

• • 8.7.4. To the fullest extent permitted by law, IVL shall not be liable for any claim whatsoever in relation to damage to your Box or any of its contents.

• • 8.7.5. IVL will comply with and will not be liable to you or any person for any resultant loss or damage in complying with any order of a New Zealand Court, the Government or any Relevant Authority.

• • 8.7.6. IVL will accept a request for access from any natural person or authority that has evidence of legal control over your property (such as a Receiver, Liquidator, Official Assignee etc.) for reasons including, but not limited to, insolvency, bankruptcy, incapacity which allows such third party to examine and/or cease any contents of your Box and / or take control of and refuse you further access to the Box.

• • 8.7.7. You must cover all IVL’s costs incurred in complying with any such order including the cost of forced access and repair to the Box and the cost of any new locks and keys.

8.8. You and the Nominated User jointly and severally undertake to fully indemnify and to keep indemnified IVL against all actions, proceedings, claims, damages, losses and costs which IVL may suffer, incur or sustain as a result of, or resulting directly or indirectly from, any breach by you of any of these Terms.

9. LIMITATION OF LIABILITY

9.1. IVL shall not be required to supervise, check or verify the deposit or removal of any contents of the Box. Each of the users hereby acknowledge that the liability of IVL is limited to the exercise of ordinary diligence to prevent access to the Box other than in accordance with these Terms. Neither the partial nor total loss of the contents of your Box shall raise a presumption that the Box has been opened without your authority or that IVL has acted in bad faith or is otherwise liable to you for any such loss.

9.2. IVL shall not be liable to you for any loss or damage arising out of Box access delays, incident or failure in the working of the Vault, your Box or locks or from IVL’s staff or the Security Provider’s staff absence for any reason.

9.3. To the fullest extent permitted by law, IVL shall not be liable to you for any loss, costs or damages suffered as a result of the use of our Services. However, if for any reason IVL is found to be liable to the Hirer for any claim for breach of these Terms, for damages in tort, damages for breach of any statutory duty, or for damages for any other claim at law or in equity, the liability of IVL shall be limited to an amount equal to the Box key bond.

10. TERMINATION

10.1. If IVL considers at its sole discretion that a user has committed a material breach of these Terms, IVL may give written notice of immediate termination of your Rental Agreement or Lifetime Agreement and right to use our Services.

10.2. In the event of termination of the Rental Agreement due to breach, IVL will deduct the outstanding amounts (on a pro rata basis) from your refundable Box Key bond where both keys are returned. If the overdue amounts under your Rental Agreement exceeds the refundable Box Key bond, you will be charged the balance amount. If your set of Box keys are not returned by the notified termination date, your Box Key bond will be forfeited and balance amounts due will be charged to you.

10.3. If your right to use a Box has been terminated (pursuant to clause 10.1 or otherwise), you will no longer be entitled to use of your Box or access to Imperial Vaults except for the purpose of removing the contents of your Box. You must immediately return both Box keys and access devices in your possession. Until such time as all keys and access devices are returned to IVL you must continue to pay the fees under your Rental Agreement or Lifetime Agreement.

10.4. You will be notified in writing of any termination and the terms and conditions upon which the contents of your Box may be claimed including confirmation of the cost of opening the Box, repairing the locks and removing and storing the contents.

10.5. We will endeavor to follow up with you within one calendar month following the expiry date of your Rental Agreement however you remain solely responsible for checking if there are any overdue fees owing. We will not be responsible for delayed notification of overdue fees and will not waive any additional amounts charged on such overdue balances.

10.6. If you cancel your Rental Agreement at any time after 14 working days of signing the contract, we will deduct $50.00 administration fee from your Box Key deposit bond. To avoid doubt, on termination of your Rental Agreement you will not be entitled to a pro-rata refund of your Box rental fee paid to IVL immediately prior to cancellation.

10.7. On termination of your Rental Agreement, we will arrange for a locksmith to replace the locks to your Box at your cost of $350.

10.8. If you have a Lifetime Agreement with us, subject to clause 4, you are not entitled to early termination of the Service. If your right to access a Box has been terminated by us (pursuant to clause 10.1), we may offer to buy back your Box at a price to be determined by IVL at its sole discretion. Alternatively, we may offer you the option of selling your Box to a third party (i.e. acquaintances, friends, colleagues, relatives, etc.). The new Box owner must be approved by IVL and enter into a Lifetime Agreement including agreeing to be bound by these Terms before ownership of the Box passes. Please note in these circumstances, you will not receive a refund of your Box lifetime fee and will be charged an administration fee of $150.00 to transfer ownership of your Box.

10.9. You acknowledge and agree that IVL shall at all times have a lien on the contents removed from your Box for payment of any outstanding moneys owing by you to IVL. If you have not claimed your Box contents within the time specified in the notice (pursuant to clause 10.4), IVL may dispose of the contents of the Box in such a manner as it thinks fit (except to the extent it is otherwise obliged to comply with any applicable law relating to the disposal of uncollected goods).

10.10. If IVL disposes of any contents of your Box pursuant to clause 10.9 it may sell the contents by public auction and deduct from the sale proceeds an amount equal to the money’s owing to IVL. IVL will not be acting as your agent and will be under no obligation to obtain the best possible price.

10.11. Any balance from the sale proceeds (after deducting all costs of sale and other moneys owing to IVL by the Hirer) will be deposited into a bank account and held (without the need to account to you for interest) until either you claim the balance or the balance is paid to the Commissioner of Inland Revenue pursuant to the provisions of the Unclaimed Money Act 1971 or any replacement law. In the event of any shortfall, you will be required to pay such shortfall to IVL.

10.12. If any of the Box contents comprise cash, IVL shall be entitled to apply such cash by way of set off against any moneys owing to IVL.

10.13. On the death of a Hirer under a Rental Agreement, the Nominated User’s access rights immediately cease and IVL shall only be obliged to grant access to the executor under the deceased Hirer’s Will. IVL requires and must be satisfied with the following prior to granting the executor access to remove contents of the Box:

• • 10.13.1. Certified copy of Probate or Letter of Administration (with or without a copy of the Will). Where Probate or Letter of Administration is not obtained, IVL require a certified copy of the deceased Hirer’s Will;

• • 10.13.2. Certified valid proof of identification and proof of address of the named executor under the Will; and

• • 10.13.3. Payment of all outstanding amounts owing under the Rental Agreement including all interest accrued thereon and any other costs incurred by IVL.

10.14. On the death of a Hirer under a Lifetime Agreement, the Nominated User’s access rights immediately cease. The Hirer’s rights under that contract (including the right to nominate a Nominated User) may be transferred to a third party (with prior approval of IVL) upon written direction of the executor under the Hirer’s Will. Prior to approving and transferring all rights to the Box, IVL requires and must be satisfied with the following:

• • 10.14.1. Letter from the executor under the Hirer’s Will nominating a third party assignee (approved by IVL) of all rights under the Lifetime Agreement for the Box (“Executor Letter”);

• • 10.14.2. The Executor Letter to be accompanied by a Certified copy of Probate or Letter of Administration (with or without a copy of the Will), certified valid proof of identification and proof of address of the named executor under the Will and payment of all outstanding amounts owing under the Lifetime Agreement including all interest accrued thereon and any other costs incurred by IVL;

• • 10.14.3. Where no Probate or Letters of Administration is obtained, IVL require a certified copy of the deceased Hirer’s Will.

11. DEFAULT

11.1. The following shall constitute default by the Hirer under these Terms:

• • 11.1.1. Any payment owing by the Hirer to IVL is not paid on the due date.

• • 11.1.2. Any payment made by the Hirer is dishonored or reversed.

• • 11.1.3. The Hirer intimates that it will not pay any sum by the due date.

• • 11.1.4. The Hirer is adjudged bankrupt or placed in voluntary administration or liquidation or a receiver is appointed in respect of the Hirer or over any of the Hirer’s assets.

• • 11.1.5. A Court judgement is entered against the Hirer and remains unsatisfied for 7 days.

• • 11.1.6. Any material adverse change occurs in the financial position of the Hirer.

• • 11.1.7. The Hirer commits a breach of any provision of these Term (or any covenant in the Rental Agreement or Lifetime Agreement on the Hirer’s part expressed or implied) and fails to remedy such breach within 7 days after IVL gives notice to the Hirer of any such breach.

11.2. If the Hirer commits any act of default incapable of remedy then IVL will give the Hirer written notice setting out the details of the breach, the steps that are required to rectify the breach and the period in which such breach must be rectified (“Default Notice”).

11.3. If the Hirer receives a Default Notice from IVL and fails to remedy the breach within the period specified in such Default Notice, IVL may without prejudice to any other right or remedy suspend or terminate its Services and all moneys payable by the Hirer to IVL shall become immediately due and payable.

11.4. Any failure by the Hirer to pay the rental fee under the Rental Agreement within one (1) month of the due date shall entitle IVL to charge the Hirer an administration fee of $20.00. In addition to the administration fee, interest will be charged at a rate of 1.5% per calendar month on all overdue amounts accrued from the date payment becomes due until the payment is received by IVL (in full).

11.5. Without prejudice to any of its other rights or remedies, if a user is in breach of any payment obligation under these Terms, IVL may charge the Hirer all costs and disbursements incurred (including collection costs and legal costs on a solicitor-client basis) and suspend the Services to the user until the Hirer’s account is paid in full.

16. COLLECTION AND USE OF PERSONAL INFORMATION

16.1. The Hirer irrevocably authorises IVL to collect, retain and use any personal information about the Hirer and Nominated User (as applicable), for the purpose of legal compliance, enforcing any rights under these Terms, or marketing any goods and/or services provided by IVL.

16.2. The Hirer authorises any person or company to provide IVL with any information it may require in response to the Hirer’s application for a Box and for IVL to make any other enquiries.

16.3. The Hirer authorises IVL to search the Personal Property Securities Register (PPSR) for any information associated with each of them (as applicable).

16.4. The authorities under clause 16.1 above are authorities or consents for the purposes of the Privacy Act 1993.

16.5. A full copy of the IVL’s Privacy Policy is available on the Website and forms part of these Terms.

17. CONSUMER GUARANTEES ACT 1993

17.1. If the Hirer is acquiring services from IVL for the purposes of a business, as defined in the Consumer Guarantees Act 1993, then IVL excludes the guarantees contained in the Consumer Guarantees Act 1993.

18. RESOLUTION OF DISPUTES

18.1. In the event of any dispute, the undisputed portion of the account shall be payable without any deduction, set off, counterclaim or other legal or equitable claim.

18.2. If a dispute arises between the parties in connection with these Terms, the parties undertake in good faith to use all reasonable endeavors to settle the dispute.

18.3. Disputes unresolved by discussion or alternative medium within 14 days of a notification of such dispute (by any party) shall be referred to mediation by one mediator agreed upon by the parties or if they are unable to agree within 7 days, one appointed by the President of the New Zealand Law Society.

18.4. If the parties fail to reach agreement through mediation within 1 month following appointment of the mediator, they may refer the matter to arbitration or the courts.

18.5. Nothing in this clause 18 will preclude or prevent any party from taking immediate steps to seek urgent interlocutory relief before an appropriate court.

19. FORCE MAJEURE

19.1. IVL shall not be liable for failure to perform the Services or any term of these Terms occasioned directly or indirectly, by any act of God, pandemics, any legislation or Government directive in respect of any pandemic, fire, act of government or state, war, civil commotion, insurrection, embargo, and any other reason beyond the control of the IVL (whether similar or not to the foregoing) beyond IVL’s reasonable control (“Force Majeure”).

19.2. IVL shall be entitled to suspend its Services temporarily due to Force Majeure.

20. NOTICES

20.1. Any notice, document, request, demand or other communication to be given for the purposes of these Terms must be in writing (“Notices”) and shall be deemed to have been received if posted to the Hirer or his/her next of kin’s most recent postal address or email address notified to IVL in writing.

20.2. For this purpose, you must inform IVL of any change in address and / or contact details of the Hirer, your next of kin and Nominated User of a Box.

21. BOX ALLOCATION

21.1. IVL reserves the right to relocate Imperial Vaults to any other area within Tulja Centre including all its fixtures and fittings, the Vaults and all Boxes (including its contents without having to remove these from the Box). IVL will give you at least one month’s prior written notice of its intention to relocate.

21.2. IVL are entitled to and may move any Box (without removing its contents) to another area of the Vault as a result of repairs, maintenance or any other reason as it may deem appropriate. IVL will provide you with prior written notice of its intention to relocate your Box. 21.3. IVL may at any time allocate you an alternative box with the same dimensions and specifications as your Box within the Vault by providing you with at least on month’s prior written notice.

22. GENERAL

22.1. Where any general term of a Rental Agreement or Lifetime Agreement is in conflict with these Terms, then these Terms shall prevail unless otherwise agreed between the parties in writing.

22.2. If any term herein is illegal, invalid or unenforceable for any reason whatsoever including, but without limitation, legislation or other provisions having the force of law or any decision of any court or other body or authority having jurisdiction, such term will be deemed to be deleted.

22.3. The Hirer under a Rental Agreement has no right to assign or transfer its rights under these Terms without the prior written consent of IVL. Such consent may be withheld by IVL at its sole and unfettered discretion.

22.4. If IVL do not exercise or enforce any rights available to it under these Terms, it does not constitute a waiver of those rights.

22.5. These Terms shall be governed by and construed in accordance with the laws of New Zealand and the Courts of New Zealand shall have exclusive jurisdiction to determine any dispute or claim between the Hirer and IVL arising out of these Terms.