Target Market Determination (TMD) for the Alegre Extended Warranty.
A TMD is not intended to provide any financial product advice to you on the cover. We do not consider your personal needs, objectives or financial situation in providing any information in this TMD.
Please note that the Alegre Extended Warranty terms and conditions sets out the terms and condition of the cover. You must refer to the Alegre Extended Warrant terms and conditions before deciding about the cover.
This TMD is issued by Alegre Pty Ltd ACN 159 022 296 trading as Alegre (Second Hand Dealers Licence 2PS11940) and applies from Day Month 2022 and will continue to apply until this TMD is withdrawn.
About this document
A Target Market Determination describes the class of consumers that comprises the target market for a financial product and matters relevant to the product's distribution and review.
The Alegre Extended Warranty is a warranty and service plan for certain refurbished devices sold by Alegre.
Purpose of cover and key attributes
The Alegre Extended Warranty has been designed to assist with the repair or replacement cost, beyond the 12-month standard warranty, of your Alegre purchased device, should it suffer a failure due to defect or normal use, provided the purchased device has been used in a manner it was intended to be used.
Key attributes of the Alegre Extended Warranty:
1. Benefits which are additional to rights under the Australian Consumer Law (ACL), subject to the terms and conditions, being:
Certainty of cover after the 12-month standard warranty,
Convenience of having trained technicians to manage the repair and/or replacement process; and
Cover commences on the expiry of the 12-month standard warranty and ends 24-months after the date of purchase.
The Alegre Extended Warranty provides rights which are in addition to existing rights under the Consumer Guarantees required by the ACL and do not limit or replace them. For information about the Consumer Guarantees required by the ACL, visit www.accc.gov.au.
The Alegre Extended Warranty is designed for customers who purchase an eligible Alegre refurbished device from Alegre and:
1. want to protect themselves against the cost of having to repair or replace their device beyond the 12-month standard warranty due to the device failing through defect or normal use; and/or
2. want the benefits of convenience and certainty beyond the remedies provided by the ACL.
Cover is only suitable if the Alegre device is being used for personal use.
Cover is not designed for:
non eligible Alegre devices;
a customer if they already have protection for the device against defect;
a purchased device that is not retained in Australia; or
device failures caused by accidental damage.
The likely objectives, financial situation and needs of retail clients in the target market include:
1. needing assistance with, or wanting to pay for cover against, the repair or replacement cost of the device failure due to defect or normal use after expiry of the 12-month standard warranty; or
2. wanting to pay for additional benefits that provide certain convenience and certainty in addition to Consumer Guarantees under the ACL.
The Alegre Extended Warranty is not designed for people who, at the point of acquiring the device want to carry the risk of paying the repair or replacement cost of the device failure due to defect or normal use after expiry of the 12-month standard warranty.
If the Alegre Extended Warranty is sold to customers in the target market, it will likely be consistent with those customers' objectives, financial situation and needs because the Alegre Extended Warranty provides:
1. a warranty period in addition to the 12-month standard warranty; and
2. certain benefits which are additional to rights under the ACL.
Distribution conditions and restrictions for the Alegre Extended Warranty
The Alegre Extended Warranty may only be purchased through Alegre.
The following conditions and restrictions on distribution of the Alegre Extended Warranty apply:
1. The Alegre Extended Warranty may only be sold in accordance with the prevailing law;
2. The Alegre Extended Warranty may only be sold by Alegre;
3. only trained staff members may sell the Alegre Extended Warranty ;
4. staff members will advise customers of their rights under the Australian Consumer Law at the point of sale; and
5. customers will be provided with the Alegre Extended Warranty terms and conditions prior to purchasing the Alegre Extended Warranty .
If the Alegre Extended Warranty is sold in accordance with the distribution conditions, it is likely to be sold to a customer in the target market because customers will be given information about:
1. their Consumer Guarantee rights; and
2. any additional benefit the Alegre Extended Warranty offers to them.
Where Alegre becomes aware of a significant dealing in the Alegre Extended Warranty in relation to a customer that is not consistent with the TMD, Alegre will notify ASIC as soon as practicable, and in any case no later than 10 business days from becoming aware.
When will this TMD be reviewed?
A review of the TMD will be completed within 24 months of the date of this document (i.e. by Day Month 2022) and every 24 months following completion of the last review.
Events that may cause early reviews of the TMD are:
If we materially change the way we sell the Alegre Extended Warranty ;
A significant portion of customers over a specified period are not advised of their consumer rights in respect of the goods purchased;
Amendments to the Australian Consumer Law impacting the cover provided by the Alegre Extended Warranty ;
It is discovered that there is a material defect in the Alegre Extended Warranty terms and conditions;
A significant increase in complaints are received from our customers on coverage stemming from claims issues, or a number of complaints result in Alegre identifying a systemic issue, suggesting the TMD is no longer appropriate;
Information provided by regulators (ASIC or ACCC) or the code governance committee identifies the TMD is no longer appropriate; or
Alegre becomes aware of a significant dealing in the Alegre Extended Warranty that is not consistent with this TMD.