Terms and Conditions of Supply
TERMS AND CONDITIONS OF SUPPLY
VanishingPoint Security
BankVault Pty Ltd ACN 117 130 257
Version 2.0
Effective 1 August 2026
These Terms govern your use of the Service. Please read section 6 (Temporary by Design), section 7 (Encryption and Customer Held Keys) and section 19 (Limitation of Liability) carefully. They describe how the Service works and the limits of our responsibility to you.
CONTENTS
1. Definitions
2. Acceptance of These Terms
3. Business and Professional Use
4. Description of the Service
5. What the Service Is Not
6. Temporary by Design
7. Encryption and Customer Held Keys
8. Accounts, Identification and Anonymity
9. Reasonable Use
10. No Resale of Service
11. Customer Content
12. Software and Intellectual Property
13. Security Practices and Your Responsibilities
14. Third Party Services and Content
15. Payment, Commencement and Term
16. Goods and Services Tax
17. Free Services
18. Cancellation, Suspension and Termination
19. Limitation of Liability
20. Indemnity
21. Force Majeure
22. Changes to These Terms
23. Assignment
24. Technical Support
25. Privacy
26. Notices
27. Export Control and Sanctions
28. General
29. Governing Law and Jurisdiction
1. DEFINITIONS
Company, we, us, our means BankVault Pty Ltd ACN 117 130 257, trading as VanishingPoint Security, a company incorporated in Australia.
Customer, you, your means the person or organisation who has registered for or uses the Service.
Service means the products and services made available by us from time to time under the VanishingPoint Security and BankVault names, including the LITE, PRO and ULTRA plans described at vanishingpointsecurity.com/compare-plans, together with all updates, documentation, application programming interfaces, integrations, plugins, and technical, billing and account support provided by us or on our behalf.
Endpoint Device means the computer, phone or other device from which you access the Service.
Customer Content means any data, file, setting, configuration, credential, application, plugin, history, favourite or other material that you create, upload, store, transmit or process using the Service, including the contents of any Persistent Workspace.
Persistent Workspace means the optional feature by which certain workspace settings, plugins, favourites, history and files are retained between sessions in encrypted form, as described in section 6.
Workspace means a temporary computing environment provisioned to you as part of the Service.
Fees means the amounts payable by you for the Service.
ACL means the Australian Consumer Law, being Schedule 2 to the Competition and Consumer Act 2010 (Cth).
2. ACCEPTANCE OF THESE TERMS
By registering for, accessing or using the Service, you agree to these Terms. If you do not agree, you must not use the Service.
If you accept these Terms on behalf of an organisation, you warrant that you have authority to bind that organisation, and Customer means that organisation.
Where you accept these Terms through a checkout or in-product acceptance step, we record the version of the Terms displayed, the account identifier, and the date and time of acceptance. That record is evidence of your acceptance.
These Terms are supplemented by our Privacy Policy and by any published guidance, technical documentation and recommended practices we make available for the Service. Those materials form part of these Terms.
Our website and marketing materials describe the Service in general terms and are not contractual. If there is any inconsistency between these Terms and anything published on our website, these Terms prevail.
3. BUSINESS AND PROFESSIONAL USE
You warrant that you acquire the Service for the purposes of a business, trade, profession or occupation, and not for personal, domestic or household use or consumption.
This warranty is material. Our pricing and the limitations in section 19 are set on the basis of it.
4. DESCRIPTION OF THE SERVICE
We provide secure, isolated computing environments and authentication services designed to remove the Endpoint Device and the local operating environment from the path of an online transaction or login.
Depending on the product, the Service may be delivered as a web service, a downloadable or mobile application, an integration or an application programming interface. A Workspace is provisioned on demand in our infrastructure and paired with your Endpoint Device for the duration of a session.
The Service is designed to reduce exposure to entire classes of attack that depend on compromise of the Endpoint Device. No system can provide complete protection against every form of attack, and we make no claim that it does.
Features and capabilities differ between the LITE, PRO and ULTRA plans. Current plan inclusions are published at vanishingpointsecurity.com/compare-plans and may change.
Any new feature, product or capability that augments or enhances the Service is subject to these Terms unless we state otherwise in writing.
5. WHAT THE SERVICE IS NOT
The Service is not a storage service, a backup service, an archiving service, a synchronisation service, a file hosting service, or a records management system. You must not rely on it as any of those things.
You must at all times maintain your own authoritative copy of any data that matters to you, in an environment under your own control. Anything placed into the Service should be treated as a working copy only.
We provide an isolated computing environment and nothing more. We do not participate in, supervise, verify, advise on, or have visibility of the activity you conduct within it. That activity is yours alone, whatever its nature, and may include accessing financial accounts, trust or client accounts, corporate systems, professional records, digital assets or any other resource.
We do not act as your agent, adviser, custodian, trustee, fiduciary, broker, dealer, exchange or intermediary in respect of any activity conducted through the Service, and we assume no duty of any kind arising from it. We do not hold, control, transmit, safeguard or have visibility of any funds, assets, account credentials, keys or other secrets you use within the Service.
Where your own professional, regulatory, licensing or fiduciary obligations apply to the activity you conduct, meeting them remains your responsibility. Use of the Service does not discharge, reduce or satisfy any such obligation, and you should satisfy yourself that using the Service is consistent with it.
6. TEMPORARY BY DESIGN
The Service is deliberately temporary. This is a design property of the product, not a limitation of it.
Sessions. Workspaces are ephemeral. A Workspace exists for the duration of your session and is destroyed when the session ends. Nothing in a Workspace survives the session except as expressly described below.
Persistent Workspaces. If your plan includes a Persistent Workspace and you enable it, certain settings, plugins, favourites, history and files are retained in encrypted form between sessions. A Persistent Workspace is retained only while your subscription is active. Following cancellation, expiry or non-payment we may reset or delete it at any time. A Persistent Workspace is a convenience feature. It is not storage, and section 5 continues to apply to it.
Recommended resets. We recommend that you reset your Persistent Workspace to a clean state regularly, at least weekly while you are actively using the Service, and at the conclusion of each project. This is a precaution against the persistence of malicious code introduced through your own activity within the Workspace. Resetting deletes the contents of the Workspace. This is recommended practice only. We do not warrant that a reset Workspace is free of malicious code or that following the recommendation will prevent compromise.
Operational resets. We may reset, rebuild, migrate, reprovision or relocate any Workspace or environment where reasonably necessary for security, maintenance, capacity, infrastructure change, upgrade or other operational reasons. We will give you notice where it is practicable to do so, but we may act without notice where the circumstances require it. A reset may result in the permanent loss of Customer Content.
No backups. We do not perform backups of Customer Content for your benefit and we are under no obligation to do so. Any replication, snapshot or copy we make is for our own operational purposes, such as migration, upgrade or rollback, is retained only as long as we need it, and gives you no right to, expectation of, or claim for restoration of Customer Content.
You acknowledge that if you do not maintain your own copy of your data, and Customer Content is lost through a session ending, a recommended reset, an operational reset, cancellation or expiry of your subscription, loss of your credentials, or any other cause, that loss is permanent and responsibility for it rests with you.
7. ENCRYPTION AND CUSTOMER HELD KEYS
Customer Content in a Persistent Workspace is encrypted before it is stored. The keys required to decrypt it are held solely by you and are derived from credentials that only you possess.
We do not hold, escrow, cache, retain or maintain any copy of those credentials or of the keys derived from them. We cannot access, decrypt, read, index, search, recover or reconstruct the contents of your Persistent Workspace. We cannot reset, restore, bypass or override your workspace credentials, and we have no administrative mechanism that would allow us to do so.
The specific cryptographic methods we use are part of our proprietary technology and are improved and replaced over time as the Service is upgraded. The properties described in this section apply regardless of the methods in use at any given time.
You acknowledge and agree that:
(a) if you lose your workspace credentials, your Persistent Workspace and everything in it is permanently and irrecoverably lost;
(b) we cannot recover it under any circumstances, including on your request, on proof of your identity, on payment of any fee, or under legal compulsion;
(c) we hold no copy of Customer Content in any form we are able to read;
(d) sole responsibility for the generation, safekeeping, backup and recovery of your credentials rests with you;
(e) if we are lawfully compelled to produce data relating to your account, we can produce only what we hold, which in respect of Customer Content is encrypted data we are unable to decrypt.
We will not weaken, bypass or introduce a means of access to this architecture at the request of any third party, and we will resist any such request to the extent lawfully available to us. We do not, however, warrant the outcome of any legal process.
8. ACCOUNTS, IDENTIFICATION AND ANONYMITY
We deliberately collect the minimum information necessary to provide the Service. You may be identified to us by no more than an email address or username. Payment information is collected and held by our payment processor and not by us.
You acknowledge that a consequence of this design is that our ability to verify your identity is limited. If you lose access to the email address, username or credentials associated with your account, we may be unable to restore access to the account, and we are under no obligation to do so.
You are responsible for all activity conducted through your account. You must not share your account, disclose your credentials to any other person, or record them in a manner that exposes them.
Where an account is locked to a specific device, it may be unlocked and transferred by resetting the Service. The account then re-locks to the first device from which it is next used. We may apply a proof of identity protocol and charge a reprovisioning fee for each reset.
9. REASONABLE USE
You must use the Service only for its intended purpose, being a secure and isolated environment for conducting online activity independently of your Endpoint Device.
You must not, and must not permit any other person to:
(a) use the Service to attack, probe, scan, disrupt, gain unauthorised access to, or interfere with any system, network, account or data;
(b) use the Service to send unsolicited communications, distribute malicious code, or conduct fraud, phishing or impersonation;
(c) use the Service in connection with any activity that is unlawful in Australia or in the jurisdiction in which you are located, including money laundering, terrorism financing, sanctions evasion, or the distribution of material that is unlawful to possess or transmit;
(d) use the Service to store, process or transmit material that infringes the intellectual property or other rights of any person;
(e) copy, decompile, disassemble or reverse engineer any part of the Service, except to the extent that this restriction cannot lawfully be excluded;
(f) circumvent or attempt to circumvent any usage limit, security control, authentication mechanism or access restriction;
(g) misrepresent your identity or affiliation in a manner intended to obtain access you would not otherwise have.
You acknowledge that because of the architecture described in section 7 we do not monitor, review, moderate or have visibility of Customer Content, and that our enforcement of this section necessarily operates at the account level rather than the content level.
We may set, vary and enforce reasonable limits on use of the Service, including limits on session duration, storage, bandwidth and concurrency. We will give notice of material changes to limits.
If you breach this section, we may suspend or terminate your access in accordance with section 18.
10. NO RESALE OF SERVICE
You must not reproduce, duplicate, copy, sell, resell, sublicense, rent, lease, distribute, or otherwise exploit for any commercial purpose any part of the Service, your use of the Service, or your access to the Service, without our prior written consent.
You must not make the Service available to any third party, or use it to provide a service to any third party, except where we have expressly agreed in writing to a reseller, partner or multi-user arrangement.
11. CUSTOMER CONTENT
As between you and us, you own all right, title and interest in Customer Content. We claim no ownership of it.
You grant us a limited, non-exclusive licence to host, store, transmit and process Customer Content solely to the extent necessary to provide the Service to you. That licence ends when the Customer Content is deleted or reset.
You warrant that you have all rights necessary to place Customer Content into the Service, and that Customer Content and your use of the Service do not breach any law or infringe the rights of any person.
You are solely responsible for Customer Content, including its legality, accuracy, quality, retention and backup.
12. SOFTWARE AND INTELLECTUAL PROPERTY
The Service, and all software, documentation, designs, patents, trade marks and other intellectual property in or relating to it, are and remain owned by us or our licensors. Nothing in these Terms transfers any ownership to you.
We grant you a limited, non-exclusive, non-transferable, revocable right to access and use the Service during the term, solely in accordance with these Terms.
Where we make a downloadable or mobile application available, that application is licensed to you and not sold. Your use of it is subject to these Terms and, where it is obtained through a third party application marketplace, to the terms of that marketplace. We may issue updates, and continued use of the application may require you to install them.
You must not remove, obscure or alter any proprietary notice.
On termination your licence ends immediately. You must stop using, and delete, any software, application or materials we have provided.
Where you provide feedback or suggestions, we may use them without restriction and without obligation to you.
13. SECURITY PRACTICES AND YOUR RESPONSIBILITIES
We implement commercially reasonable technical and organisational measures designed to protect the Service and the information we hold. These include encryption of data in transit, encryption of Customer Content under customer held keys, network isolation, access controls on a least privilege basis, logging of administrative access, and staff and contractor training. These measures are reviewed and updated as the Service evolves.
Security depends substantially on how the Service is used. You agree to follow the warnings, recommendations and best practices we publish for the Service. You acknowledge that failure to follow them may render the intended protection ineffective.
We do not warrant that the Service will be uninterrupted, timely, error free, free of malicious code, or that it will prevent every unauthorised access, interception or compromise. Threats evolve continuously and no security measure is complete.
14. THIRD PARTY SERVICES AND CONTENT
The Service may provide access to applications, websites, networks and services operated by third parties. We do not control, endorse, verify or assume responsibility for them, for their availability, or for anything you do through them.
Your use of any third party service is at your own risk and is governed by that third party’s terms. We are not liable for any loss arising from a third party service, including any loss of funds, assets, credentials or data.
15. PAYMENT, COMMENCEMENT AND TERM
The Service is charged in advance and is billed on provisioning. Products may be offered on a one-off, instalment or recurring subscription basis.
Payment is by recurring card authority or such other method as we make available, charged each billing period in advance. Payment processing is performed by our payment processor. You authorise us to charge the payment method you provide.
Subscriptions renew automatically at the end of each billing period unless cancelled before renewal. Cancellation takes effect at the end of the current billing period. Except as required by law, or as expressly provided in section 18, Fees paid are not refundable, including where you cancel part way through a period.
Where you have expressly agreed to a fixed minimum term, and you terminate before the end of that term other than for our material breach, you remain liable for the Fees payable for the remainder of that term.
If your account is overdue we may suspend the Service without notice. Reconnection is at our discretion and may incur a reprovisioning fee.
We may change our prices. We will give you at least 30 days notice of a price change. The change takes effect at your next billing period following the notice. If you do not accept the change, you may cancel before it takes effect.
16. GOODS AND SERVICES TAX
Fees are expressed exclusive of GST and any other applicable taxes unless stated otherwise.
We will provide you with a tax invoice in a form that complies with Australian GST law.
If any supply made under this agreement is subject to GST, or to any equivalent tax in your jurisdiction, we may recover an additional amount on account of that tax from you in addition to the Fees.
17. FREE SERVICES
Where we provide any part of the Service to you free of charge, including any trial, free tier, developer tier, promotional access or complimentary account, it is provided without warranty of any kind.
We may modify, limit, suspend or withdraw a free service at any time, at our sole discretion, without prior notice and without liability to you.
Sections 5, 6, 7, 9, 10, 11, 19, 20 and 29 apply to your use of a free service. Where no Fees have been paid, our aggregate liability is limited as set out in section 19.3.
18. CANCELLATION, SUSPENSION AND TERMINATION
Termination by you. You may cancel at any time through your account. Cancellation takes effect at the end of the current billing period.
Suspension or termination by us for cause. We may suspend or terminate your access immediately, and without liability, if:
(a) you materially breach these Terms and, where the breach is capable of remedy, fail to remedy it within 7 days of our notice;
(b) any amount payable by you remains unpaid more than 14 days after its due date;
(c) you become insolvent, bankrupt, or enter administration, receivership, receivership and management, or liquidation;
(d) we reasonably believe your use of the Service is unlawful, or presents a risk to the Service, to us, or to any other person;
(e) we are required to do so by law.
Where the circumstances permit, we will give notice before suspending. Where they do not, we will give notice as soon as practicable afterwards.
Termination by us for convenience. We may terminate on 30 days notice for any other reason. If we do, we will refund the unused portion of any Fees you have prepaid, calculated on a pro rata basis.
Effect of termination. On termination your right to use the Service ends immediately, and section 12 applies to the deletion of any software or application we have provided. Sections 5, 6, 7, 10, 11, 12, 14, 19, 20 and 29 survive termination.
Data on termination. We are under no obligation to retain Customer Content following termination, cancellation, suspension or non-payment, and we may delete it at any time thereafter. You should retrieve anything you need before terminating.
19. LIMITATION OF LIABILITY
Please read this section carefully. It limits our liability to you.
19.1 Rights that cannot be excluded. Certain rights and guarantees under the ACL and other laws cannot be excluded, restricted or modified. Nothing in these Terms excludes, restricts or modifies any such right. To the extent that such a right can be limited rather than excluded, our liability is limited as set out below.
19.2 Limitation to resupply. To the maximum extent permitted by section 64A of the ACL, our liability for failure to comply with a consumer guarantee in relation to services is limited, at our option, to supplying the services again, or to paying the cost of having the services supplied again.
19.3 Aggregate monetary cap. Subject to sections 19.1 and 19.5, our total aggregate liability to you arising out of or in connection with these Terms or the Service, whether in contract, tort including negligence, under statute, in equity or otherwise, is limited in aggregate for all claims to the total Fees actually paid by you to us for the Service in the 12 months immediately preceding the first event giving rise to the liability. Where no Fees have been paid, that limit is AUD $100.
19.4 Excluded loss. Subject to sections 19.1 and 19.5, neither party is liable to the other for any loss of profit, loss of revenue, loss of business, loss of opportunity, loss of goodwill, loss of anticipated savings, loss of or corruption of data, loss of use, or for any indirect, consequential, special, punitive or exemplary loss, however arising and even if the party was advised of the possibility of it. This section does not limit your obligation to pay Fees or your obligations under section 20.
19.5 What is not limited. Nothing in this section limits liability for fraud or fraudulent misrepresentation, for wilful misconduct, for death or personal injury caused by negligence, or for any liability that cannot lawfully be limited.
19.6 Data loss. Without limiting the above, and in view of sections 5, 6 and 7, we are not liable for any loss, deletion, corruption or unavailability of Customer Content, including loss resulting from a session ending, a recommended reset, an operational reset, cancellation or expiry of your subscription, loss of your credentials, or your failure to maintain your own copy of your data.
19.7 Your contribution. Our liability is reduced to the extent that the loss is caused or contributed to by your act or omission, by your failure to follow the guidance we publish for the Service, or by any third party service.
19.8 Independence of limits. These limitations apply even if a remedy fails of its essential purpose, and survive termination.
20. INDEMNITY
You indemnify us, our officers, employees and agents against all claims, liabilities, losses, damages, costs and expenses, including reasonable legal costs, arising out of or in connection with:
(a) Customer Content;
(b) your use of the Service, including any use in breach of section 9 or section 10;
(c) your breach of these Terms or of any law;
(d) any claim brought by a third party, including any client, employer, counterparty or end user of yours, in connection with your use of the Service.
This indemnity is reduced to the extent that the claim is caused by our breach of these Terms, our fraud or our wilful misconduct.
21. FORCE MAJEURE
Neither party is liable for any failure or delay in performance caused by circumstances beyond its reasonable control, including fire, flood, earthquake, storm, pandemic, war, terrorism, civil disturbance, government action, sanctions, strike or labour dispute, failure of power, failure of the internet or of a communications carrier, failure or unavailability of a supplier or data centre, or unauthorised access to or attack upon systems.
The affected party must notify the other as soon as practicable and use reasonable efforts to resume performance. If the event continues for more than 30 days, either party may terminate on notice, and we will refund the unused portion of any prepaid Fees on a pro rata basis.
This section does not excuse any obligation to pay Fees already due.
22. CHANGES TO THESE TERMS
We may update these Terms. We will publish the updated version with a new version number and effective date.
Where a change is material and adverse to you, we will give you at least 30 days notice by email or in-product notification before it takes effect. Your continued use of the Service after the effective date constitutes acceptance. If you do not accept the change, you may cancel before it takes effect and we will refund the unused portion of any prepaid Fees on a pro rata basis.
Non-material changes, including corrections and clarifications, take effect on publication.
Prior versions are available on request.
23. ASSIGNMENT
We may at any time assign, novate, charge or otherwise deal with our rights and obligations under this agreement, including in connection with a sale, merger or transfer of our business or assets, on notice to you.
You must not assign, novate or otherwise transfer any of your rights or obligations under this agreement without our prior written consent, which will not be unreasonably withheld.
24. TECHNICAL SUPPORT
Technical support is provided as described in your plan.
On-site or specialist support may be performed on a time and materials basis by independent third parties. We strongly recommend that you engage only accredited and approved consultants. We may publish a list of accredited consultants, but they are independent of us, we are not responsible for the quality of any training or work they carry out, and you contract with and pay them directly.
25. PRIVACY
Our collection and handling of personal information is governed by our Privacy Policy, which forms part of these Terms.
26. NOTICES
We may give notice to you by email to the address associated with your account, or by notification within the Service.
You must give notice to us at accounts@vanishingpointsecurity.com.
Notice is taken to be received on the day it is sent, unless the sender receives a delivery failure.
27. EXPORT CONTROL AND SANCTIONS
You must not use the Service in breach of any applicable export control or sanctions law.
You warrant that you are not a person, and are not acting on behalf of a person, with whom dealing is prohibited under Australian sanctions law or under the sanctions law of any other jurisdiction that applies to you.
28. GENERAL
Severance. If any provision of these Terms is or becomes invalid, illegal or unenforceable, it is to be read down to the minimum extent necessary to make it valid and enforceable, and if it cannot be read down it is severed, without affecting the validity or enforceability of the remaining provisions.
Waiver. A failure or delay in exercising a right is not a waiver of it. A waiver is effective only if given in writing.
Entire agreement. These Terms, together with the documents they incorporate, constitute the entire agreement between the parties in respect of the Service and supersede all prior representations, understandings and agreements.
Relationship. Nothing in these Terms creates a partnership, joint venture, employment or agency relationship between the parties.
29. GOVERNING LAW AND JURISDICTION
This agreement is governed by and will be construed in accordance with the laws of Western Australia, Australia.
The parties submit to the exclusive jurisdiction of the courts of Western Australia and any courts which may hear appeals from them.
Nothing in this section limits any non-excludable right you may have to bring proceedings in the jurisdiction in which you are resident.
BankVault Pty Ltd ACN 117 130 257, trading as VanishingPoint Security
Perth, Western Australia
accounts@vanishingpointsecurity.com
