Nominated Bank Account

Any changes to the nominated bank account must be provided in writing and authorized by all parties to the original application form. For your protection, we will not accept e-mailed instructions for changes to the nominated bank account. Faxed instructions will only be accepted if sent from an ANZ branch or from the office of a UDC registered broker.

Resident Withholding Tax

The interest earned on UDC Secured Term Investments, Capital Drawdown Option and the UDC Telephone Call Account is taxable. The applicable withholding tax or levy will be deducted before interest is direct credited or compounded. Please ensure that you include your IRD number and preferred tax rate on the application form. If no IRD number is provided, UDC is required to deduct Resident Withholding Tax (RWT) at the non-declaration rate.

If you are exempt from Withholding Tax, you must provide us with both your IRD number and a copy of your Certificate of Exemption. 

Overseas Investors

If you are an overseas resident and require either Non-Resident Withholding Tax (NRWT) or the Approved Issuer Levy (AIL) to be deducted, UDC must be provided with your full overseas address and a signed AIL application where applicable. Correspondence may be sent to either your overseas address or to a nominated New Zealand address.

Early Repayments

Any request for a part, or full, early withdrawal of funds must be given in writing and signed by all parties to the investment. An interest rate adjustment will apply to investments that are partially or fully repaid prior to maturity. Early repayments are at the discretion of UDC and only one part repayment will be permitted, if necessary, during the term of an investment. If a part repayment is required on an investment with a term of less than one year or, within six weeks of the maturity date, the investment must be fully withdrawn and a new term negotiated for the remaining balance. If an early repayment of SuperBonds is required, the full amount must be repaid - part payments are not permitted.

Investor Identification

    Personal Investors

• Pre-printed bank deposit slip in the name/s of the investors.
• Copy of your passport photo and signature page.
• Copy of your driver's licence, together with a copy of a utility bill in your name at your current address.
• A copy of birth certificate or IRD Number confirmation is acceptable identification where an account is being opened in the name of a minor who does not have a bank account in their name.

   Company, Partnership, Trust or Non-Profit Organization

• Pre-printed bank deposit slip in the name of the organization together with a copy of the Certificate of Incorporation, Partnership or Trust Deed as applicable.

Disputes Between Parties

In the event of a dispute arising between the parties to a joint investment, UDC may refuse to allow any changes to, or repayments from the investment until all parties confirm in writing that the dispute has been resolved.