Tag Archives: Code

Banking

What is the code of banking practice in Australia?

The self-regulatory code of banking practice provides a customer Charter on the standards of best banking practice. The CDP was prepared by the Australian bankers Association and commenced in 2003 and revised in 2004. The code is voluntary and does not have the force of law. It is monitored by the Australian Securities and Investments Commission and the code compliance monitoring committee.  Once the bank adopts the code, it becomes part of the terms of the bank’s contract with its customer. The code is used by the banking and financial services ombudsman is a test of banking industry practice, that has been approved by the Australian Securities and Investments Commission under its power to approve codes of conduct in the financial services sector which establishes best practice under the Corporations Act 2001 (Cth).

The code sets out the banking industry’s main commitments obligations to customers on standards of practice, disclosure and principles of conduct for their banking services but does not cover all the issues of good banking practice. The code prescribes what is good practice. Small business is defined as a business having less than 20 people full-time. The code is not limited to employees, and people includes related person such as contractors, consultants and sales representatives. Banking practice is wider than only banking because the code applies to any financial service or product under clause 40 of the code. The basic structure of the code document is an introduction which states that the code is voluntary and defines a financial product in a financial service. The code then moves on to the key commitments of members to achieve best practice and continuously work towards better disclosure, acting fairly reasonably and complying with the law. The code also covers resolution of disputes, monitoring and sanctions. The banking and financial services ombudsman provides a free, independent, alternative dispute resolution scheme for financial institution customers and, as from 1998, all small business having unresolved disputes involving up to $ 280,000.

If you would like more information about the banking code of practice in Australia you can contact the author using the links below.

David Coleman is a lawyer in Sydney Australia with over 10 years experience in the legal industry. If you need legal advice or a access to a legal document click on the links contained here.

Money

Save Money With A Discount Code

Most people are driven to end of season sales and schemes like buy one, get one free because these offer them huge savings and allow them to buy stuff that is otherwise out of their reach. This is the reason why many retailers have started offering discount code schemes from time to time, in order to entice people to buy more.

Offering coupons is one of the most effective marketing techniques. It is a win-win situation for both retailers and buyers. While buyers enjoy great savings on their purchases, retailers benefit from increased sales that help their inventory to move fast and make quick profits.

Promotional coupon codes can be used for buying a wide variety of products ranging from grocery items to electronics to designer clothes. They help you save money not only on your day to day grocery shopping, but also on buying latest gizmos and high-end brands.

A discount code can be obtained either from the Internet or through newspapers and magazines. Some companies send their coupons directly to their customers through postal service or e-mails while some use discount code websites to allow their customers access to their shopping discounts codes.

Shopping coupons are of two types – printable coupons and online coupons. While printable coupons are meant for purchases at brick and mortar stores, online coupons are meant for shopping at e-stores.

Getting a discount code through the Internet is very easy. Simply type “discount coupons” in a search engine and you will get a list of websites offering such coupons. Discount code websites are user-friendly and allow you to sort coupons based on brands, stores, and product categories. For instance, if you are looking for online coupons for cell phones, simply click on electronics or cell phones in product categories and you will get a the list of coupons that are currently available for cell phones.

Discount coupons come with an expiry date. Once the coupon date expires, the coupon becomes invalid.

Also, you should know that most companies allow you to use only one discount code at a time. For instance, if you have two discount codes with each offering 20 percent discount on a product A, it is most likely that you may not be allowed to use both the coupons for a single purchase. There could be other restrictions as well for using coupons. Like some companies have a minimum order requirement, which means you can redeem a coupon only if you place a minimum order of a certain fixed amount. For instance, a firm may say that you can get a 10 percent discount on your bill only if your bill amount exceeds $ 250. Similarly, some companies have caps on the frequency with which a customer can redeem discount codes. Like a retailer may allow you to use the promotional coupon codes only once in a fortnight or month.

If you can resist your temptation to splurge, a discount code could help you save a lot. Else, instead of saving you may end up spending money on things that you do not need.

Discount code could help you save a lot of money on your day to day shopping as well as big ticket purchases. These codes are available at no cost at www.discountcode.net.