Velocity Points Offer Terms and Conditions (January 2019)
Velocity Points offer when you purchase a selected investment property from Defence Housing Australia. (Offer commences 29 January 2019 and ends 30 April 2019.)
1.1. Defence Housing Australia ("DHA") will supply purchasers of selected properties in Brisbane and Ipswich with 300,000 Velocity Frequent Flyer Points. This incentive is referred to as "Velocity Points Offer". The following terms and conditions apply to any action taken as part of this Velocity Points Offer.
2. Velocity Points Offer Property Selection
2.1. DHA in its discretion shall select the properties to be subject to the Velocity Points Offer. The number, type and location of properties available ("Selected Property") may vary from time-to-time and availability of Selected Properties is not guaranteed.
2.2. Selected Properties will be marketed in a manner that is determined by DHA in its sole discretion and this may include marketing to a designated group of people or advertising on DHA's investment website (www.dha.gov.au/investing) and released for sale from 29 January 2019 to 30 April 2019.
2.3. The marketing for each Selected Property will include the following statement in the property description:
"To earn Velocity points you must be a Velocity member and provide the correct Velocity membership number to DHA prior to the settlement of the Selected Property and meet the criteria in the Offer Terms and Conditions. Velocity points will be transferred within 14 days of settlement of the property to the nominated individual. Velocity Membership Terms and Conditions apply.
2.4. More detailed information about a Selected Property may be supplied upon request.
3.1. A purchaser will only be eligible for the Velocity Points Offer if:
(a) a purchaser:
(i) places a Selected Property on Hold (reserved for purchase by an purchaser) by 5:00 pm AEST on Tuesday 30 April 2019; and
(ii) completes Settlement for the Selected Property by 5:00 pm AEST Friday 28 June 2019; and
(iii) leases the Selected Property to DHA and enters into a lease of the Selected Property with DHA on DHA’s standard terms of lease (“Lease”).
(b) The purchaser whose name appears on the contract is, or becomes by the Settlement date, a member of the Velocity Frequent Flyer program; and
(c) The purchaser supplies DHA with their Velocity Membership Number prior to settlement of the Selected Property.
3.2. For the avoidance of doubt, a Selected Property will be placed on Hold when the following occurs:
a) DHA receive a written request from the purchaser of their intention to purchase the Selected Property and,
b) if the Selected Property is to be sold via a ballot, the purchaser is successful in the ballot.
3.3 The date of 28 June 2019 is the latest date for settlement despite any notice to complete period provided for by the Contract.
If any of the above eligibility criteria are not met, this will disentitle the purchaser to the Velocity points.
4.1. Until a formal written unconditional Contract is signed by both parties, DHA may in its sole discretion revise details, defer the sale or withdraw the Selected Property from sale and sell the Selected Property to another person.
4.2 DHA may extend the offer period at any time by changing the latest date the Selected Property must be placed on Hold or the latest date for Settlement, or both.
4.3. The purchase of the Selected Property is subject to the terms and conditions of the Contract. DHA makes no representations as to the suitability of the Selected Property as an investment. Purchasers who purchase a Selected Property will be responsible for any risks associated with the purchase. Prospective purchasers should:
(a) seek independent financial, taxation and legal advice;
(b) make and rely upon their own assessments and enquiries; and
(c) ensure they understand the terms of the Contract including the Lease
4.4. To the extent permitted by law, DHA and Velocity Frequent Flyer will not be liable for any loss, damage, cost or expense incurred or arising by any person relying on any information given by DHA about the Selected Property and the Velocity Points Offer.
4.5. These terms and conditions shall be governed by the laws of the Australian Capital Territory.
4.6. DHA may be contacted at 26 Brisbane Avenue, Barton, Australian Capital Territory.