Clause Search Results

electronic settlement pexa clause australian capital territory in Australia (Federal) property contracts

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#1Australian Capital TerritorySpecial ClausesStrong match

Electronic Settlement (PEXA)

Understanding Electronic Settlement (PEXA) in Your Australian Capital Territory Property Contract

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#2Australia (Federal)Special ClausesStrong match

Electronic Settlement (PEXA)

Understanding Electronic Settlement (PEXA) in Your Australia (Federal) Property Contract

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#3Northern TerritorySpecial ClausesStrong match

Electronic Settlement (PEXA)

Understanding Electronic Settlement (PEXA) in Your Northern Territory Property Contract

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#4New South WalesSpecial ClausesStrong match

Electronic Settlement (PEXA)

Demystifying the Electronic Settlement (PEXA) Clause in a New South Wales Property Contract

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#5TasmaniaSpecial ClausesStrong match

Electronic Settlement (PEXA)

Understanding the Electronic Settlement (PEXA) Clause in your Tasmania Property Contract

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#6South AustraliaSpecial ClausesStrong match

Electronic Settlement (PEXA)

Understanding Electronic Settlement (PEXA) in Your South Australia Property Contract

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#7Western AustraliaSpecial ClausesStrong match

Electronic Settlement (PEXA)

Navigating Electronic Settlement (PEXA) in Your Western Australia Property Contract: A Buyer's Guide

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#8VictoriaSpecial ClausesStrong match

Electronic Settlement (PEXA)

Navigating Electronic Settlement (PEXA) in Victoria: Your Essential Guide for Property Contracts

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#9Australian Capital TerritorySettlement & Condition

Final Pre-Settlement Inspection

Understanding the Final Pre-Settlement Inspection in an Australian Capital Territory Property Contract

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#10Australian Capital TerritorySettlement & Condition

Settlement Date Extension

Understanding the Settlement Date Extension in your Australian Capital Territory Property Contract

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Search Summary

Found 113 relevant pages. The strongest matches explain what “electronic settlement pexa clause australian capital territory” means, where the buyer risk sits, and how the clause plays out in real contracts.

Frequent Risk Signals

• Strict Settlement Deadlines: Unlike manual settlements which could sometimes be delayed by an hour without penalty, the PEXA workspace for an ACT Contract has a hard "lock" time; if funds are not cleared by the scheduled time (usually 2:00 PM or 3:00 PM), the settlement fails instantly.
• Penalty Interest: If a technical glitch on your side or your bank's side causes a failed electronic settlement, the seller is often entitled to claim penalty interest (commonly 10% per annum calculated daily) for every day settlement is delayed.
• Cyber Security and Fraud: While the platform itself is secure, buyers are at risk of "Business Email Compromise" where hackers spoof solicitor emails to provide fraudulent bank account details for the "source" of settlement funds.
• Bank Readiness: If your financier does not "sign" the digital workspace or upload the required funds at least 24 to 48 hours before the deadline, you may face a Notice to Complete, which puts your 10% deposit at risk of forfeiture.
• PEXA Administrative Fees: Every buyer must pay a mandatory PEXA platform fee (approximately $130–$160 depending on the transaction type), which is a non-negotiable disbursement added to your final settlement statement.
• Verification of Identity (VOI): To use PEXA, you must undergo a rigorous face-to-face identity check; if your VOI is not completed to the standard required by Australian Capital Territory law, your solicitor cannot legally sign the digital transfer on your behalf.