Security Bond Policy

Casphone Mobile reserves the right to change this Security Bond Policy at any time and notify you by posting an updated version of the policy on our website. The amended policy will apply between you and us whether or not we have given you specific notice of any change. You should review this policy periodically because it may change from time to time.

(a) About The Policy

This policy applies to a request for an advance payment to be made by you in respect of the supply of new or additional telecommunication services from Casphone Mobile.

(b) Circumstances Requiring Security Bond

Casphone Mobile may require the provision of a Security Bond based upon our credit assessment criteria in respect of, but not limited to, the following circumstances:

• New customers may be asked to pay a Security Bond as a result of the credit assessment process. The Security Bond enables Casphone Mobile to offer telecommunication services in circumstances which would not otherwise fulfil the credit assessment requirements.
• Existing Customers may be asked to pay a Security Bond if they add additional services or modify their account status to include new products to their account.
• Customers requesting access to International Roaming facilities may be required to provide a security bond.
• Any other event which Casphone Mobile considers may impact your ability to fulfil your financial obligations under the agreement for provision of Services.

Customers provided with a Service, subject to the provision of a Security Bond, may also have a reduced account credit limit applied to their account in accordance with the Casphone Mobile Excess Usage Alert Policy.

(c) Determining The Security Bond value

The Amount of the Security Bond is dependent on the products and services you apply for and/or the credit assessment evaluation of the account holder.

(d) Account Treatment Of Security Bond

You will be issued with a Security Bond invoice via your Service trading account upon agreeing to proceed with the Service subject the provisions of the Security Bond policy.

Your payment of the Security Bond will be offset against the Security Bond invoice and is held as a preserved value on your account pending one of the following outcomes (each a Security Bond Trigger Event):

• Your Account is cancelled, terminated or you transfer to another provider prior to the expiry of your contracted period;
• Your contract expires and is not renewed;
• You have presented a clear payment history for a period of 12
• In the event of an Security Bond issued against the provision of International Roaming Services the final charges for the period of travel have been issued and have been paid or are due to be paid.

Upon the occurrence of a Security Bond Trigger Event, the final (or current) balance of your account will be calculated and you will have 5 days to settle your account for the Service(s) after which time the remaining account balance will be offset against the security bond               and:

• Any remaining debit balance on your account will be due and
• Any credit balance will be eligible for
• Customers with continuing services may elect to utilise any credit balance to offset future invoices.

(e) Security Bond Finalisation Timing

Debit balances will be offset against your account invoice for the relevant month in which the offset is applicable.

Any refunds will be processed by cheque within ten (10) business days of the issue of your final account or as otherwise agreed between you and us.

(f) Security Bond Value

Your Security bond value is preserved for the effective period for which the bond is held. The Security Bond does not accrue any interest.