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Privacy Policy

1. Our Commitment

StatMechs Pty Ltd is committed to protecting your personal information in accordance with the Privacy Act 1988 (Cth) and the Australian Privacy Principles (APPs). This Policy explains what data we collect, why, and how we use it.

2. Information We Collect

  • Identity data: First name, last name, company name, ABN/company registration number.

  • Contact data: Email address, telephone number, business address.

  • Transaction data: Settlement amounts, currencies, dates, FSA-calculated rates.

  • Payment data: Stripe payment method tokens only (no raw card numbers stored on our servers).

  • Technical data: IP address, browser type, pages visited, session duration.

3. How We Use Your Information

  • o create and manage your account.

  • To process and govern FX settlements.

  • To generate and deliver Settlement Certificates.

  • To collect fees via Stripe.

  • To comply with AML/KYC and legal obligations.

  • To improve the platform and user experience (analytics, with your consent).

  • To communicate service updates or changes to Terms.

4. Third-Party Disclosure

  • Stripe, Inc.: Payment processing. Subject to Stripe's Privacy Policy.

  • Cloud hosting providers: Secure server infrastructure (data stored in Australia where possible).

  • Legal/regulatory authorities: When required by law (e.g., AML/CTF Act reporting obligations).

  • We do not sell, rent or trade your personal information to third parties for marketing purposes.

5. Data Retention

Transaction records and Settlement Certificates are retained for a minimum of 7 years in accordance with Australian taxation and financial record-keeping requirements. Account data is retained while your account is active and for 3 years following closure.

6. Security

We implement industry-standard security measures including SSL/TLS encryption, Stripe PCI DSS compliance, access controls, and regular security reviews. While we take all reasonable precautions, no internet transmission is 100% secure.

7. Your Rights

  • Access: Request a copy of the personal data we hold about you.

  • Correction: Request correction of inaccurate data.

  • Deletion: Request deletion of your data (subject to legal retention requirements).

  • Opt-out: Withdraw consent for analytics cookies at any time.

  • To exercise these rights, contact: info@statmechs.com.au

8. Cookies

We use essential session cookies (necessary for platform operation) and, with your consent, analytics cookies to improve user experience. See our Cookie Policy for details.

9. Contact the Privacy Officer

  • StatMechs Privacy Officer  |  07 3707 6864  |  info@statmechs.com.au

  • If you believe we have breached the APPs, you may lodge a complaint with the Office of the Australian Information Commissioner (OAIC) at www.oaic.gov.au

Terms & Conditions

1. Agreement to Terms

These Terms and Conditions ("Terms") constitute a legally binding agreement between you ("User", "Buyer", "Seller") and StatMechs Pty Ltd,  ("StatMechs", "we", "our"). By creating an account or using the Financial Shock Absorber platform, you agree to be bound by these Terms. If you do not agree, do not use the platform.

2. Services Description

StatMechs provides the Financial Shock Absorber — an FX settlement rate governance platform. We calculate a dampened, fair settlement exchange rate using our proprietary capped arithmetic mean algorithm. StatMechs does not execute foreign exchange trades, hold client funds, or act as a bank or licensed financial institution.

3. Eligibility

  • Users must be 18 years of age or older.

  • Users must be registered businesses (companies, partnerships, or sole traders) with a valid ABN or equivalent business registration.

  • Users must have authority to bind their business to these Terms.

  • Users must pass our AML/KYC verification process before transacting.

4. Account Registration

You must provide accurate, complete and current information during registration. You are responsible for maintaining the confidentiality of your account credentials. You agree to notify us immediately at info@statmechs.com.au if you suspect unauthorised access to your account.

5. Transaction Fee

  • StatMechs charges a total platform fee of 0.1% of the settlement AUD-equivalent amount per transaction.

  • This fee is split equally: 0.05% charged to the Buyer and 0.05% charged to the Seller.

  • Fees are automatically deducted from each party's Stripe-linked payment method upon mutual approval of the settlement rate.

  • Fees are non-refundable once a settlement has been approved and the Settlement Certificate issued.

6. Settlement Process

Upon mutual approval of a settlement, both parties agree to be bound by the FSA-governed rate. The Settlement Certificate issued by StatMechs constitutes the official record of the agreed settlement rate and the associated fee. StatMechs does not guarantee that either party will execute the underlying commercial transaction.

7. Payment Processing

All payment processing is performed by Stripe, Inc. in accordance with Stripe's Terms of Service. StatMechs does not store credit card or banking details. You agree to be bound by Stripe's terms when linking a payment method to your account.

8. Intellectual Property

The Financial Shock Absorber algorithm, StatMechs brand, website content, mathematical models, and software are the intellectual property of StatMechs IP Pty Ltd. All rights reserved. Unauthorised reproduction, reverse engineering or commercial use is prohibited.

9. Limitation of Liability

StatMechs provides the settlement rate as a governance tool. We are not liable for:

  (a) exchange rate movements before or after the settlement window;

  (b) failure of either party to honour the underlying commercial transaction;

  (c) any indirect, consequential, or punitive losses. Our liability is limited to the fee amount charged for the                   relevant transaction.

10. Dispute Resolution

Disputes shall first be addressed through good-faith negotiation. If unresolved within 30 days, disputes shall be submitted to binding arbitration in Brisbane, Australia, under the rules of the Resolution Institute. The governing law is the law of Queensland, Australia.

11. Termination

StatMechs reserves the right to suspend or terminate accounts for breach of these Terms, failure to pass AML/KYC verification, suspected fraudulent activity, or any other reason at our sole discretion.

12. Amendments

​We may update these Terms at any time. Continued use of the platform after notification constitutes acceptance of the updated Terms.

13. Contact

StatMechs — Tel: 07 3707 6864  |  info@statmechs.com.au  |  www.statmechs.com.au

Disclaimer

The information provided on this website is for general informational purposes only. StatMechs is not a bank, licensed financial adviser, foreign exchange dealer, or financial services provider. The Financial Shock Absorber platform provides a settlement rate governance service — it does not execute FX trades, hold funds, or provide financial advice. Past settlement rates are not indicative of future rates. All commercial decisions remain the responsibility of the contracting parties. StatMechs accepts no liability for losses arising from exchange rate movements before or after settlement.

AML / KYC Policy

StatMechs is committed to compliance with Australia's Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). All users are required to provide identification and business verification documents before transacting on the platform. StatMechs may request additional documentation at any time and reserves the right to suspend or terminate accounts that fail to meet our verification requirements or raise compliance concerns. Transaction records are retained for a minimum of 7 years in accordance with Australian law.

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