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Fair Processing Notice to Clients & Guarantors

Protection of your data

Team Factors Limited is committed to ensuring that your personal data is protected at all times.  This Notice explains how we use the information we collect about you, the procedures that we have in place to safeguard that data and how you can tell us if you prefer to limit the use of information. By accessing any part of the Team Factors website or providing any information to us you agree to our use and transfer of that information in accordance with this policy.

If we change our data protection policy we will advise you by email that we are doing so and we will post the changes on the website, so that you may be aware of the information we collect and how we use it at all times.  Your continued use of the service after we have told you will show that you agree to any such changes.

Data we collect from you

You can visit the website without telling us who you are or revealing any information to us about yourself.  However there are aspects of the website facility where we need to collect some personal information from you to enable you to access that area. In particular in order to apply to sign up as a client and become a user of the facility you will need to supply amongst other information your name, home, business and email addresses, fax and telephone numbers, date of birth and certain details of your financial background and  other information.

Use of data

All the information we obtain from you and about you will be processed fairly and lawfully in accordance with our obligations under current data protection legislation in the UK. We consider that such processing is necessary for our legitimate interests in assessing your application and operating a factoring facility. It is a requirement of your facility and the processing will only be used to enable us to provide our factoring facility to you and will include:

  • our searching your record at one or more credit reference agencies from time to time. They will add to your record details of our searches and this will be seen by other organisations carrying out searches later;
  • if you are a company or an unincorporated business our searching the record of individuals who are your major shareholders, directors, principals, partners, other officers, guarantors and/or indemnifiers;
  • our adding to your record with the credit reference agencies details of your agreement with us and your performance under it;
  • our checking your details with one or more fraud prevention agencies and, if you give us false or inaccurate information and we suspect fraud, we will record this;

We and other organisations may use and search these records to:

  • help make decisions about credit and credit related services for the individuals and members of their household;
  • help make decisions on motor, household, credit, life and other insurance proposals and insurance claims for the individuals and members of their household;
  • trace debtors, recover debt, prevent fraud and to manage the individuals' accounts or insurance policies;
  • check the individuals' identity to prevent money laundering, unless the individual furnishes us with other satisfactory proof of identity.

We, the credit reference agencies and the fraud prevention agencies will also use the records for statistical analysis about credit, insurance and fraud.

Full details of the use of information by credit reference agencies can be found at:-

www.experian.co.uk/crain

 

Information about you may be used by us for training purposes, credit or financial assessments (including establishing credit limits for the benefit of other clients), market research and product analysis and preparing statistics, and may be used for marketing purposes and to recover monies and prevent fraud and money laundering.

Your data may be held by our service / system providers. We may also give information about you to other third parties such as insurers, guarantors, professional advisors, any business providing a similar service to ours to whom you may wish to transfer, our funders and any business to which we may wish to transfer the debts or our rights or duties.

We normally retain personal data for a period of 12 months from receipt for an enquiry which does not result in a Facility, and where a Facility is agreed, for a period of 6 years after the termination of the Facility.

How we protect your data

The internet is not a secure medium.  However we have put in place various security procedures to protect the data.

We also keep information confidential.  Our internal procedures cover the storage, access and disclosure of your information and our staff is fully aware of their responsibilities.

We will protect your data in accordance with data protection laws and will not reveal to any person other than set out above.

Marketing

We may also wish to contact you by mail:

  • about services and products which we consider may be of interest to you;
  • to carry out market research about our services and products or those of others.

Your right to object

You have a right to object to our processing your information on grounds relating to your particular situation.

You also have the right, at any time, to stop us from contacting you or processing your information for marketing purposes.

Your other rights and How to contact us about the use of data

You may wish us to amend or delete information we hold, and you have the right to request from us access to and rectification or erasure of personal data or restriction of processing.

You may also wish to have details of the credit reference and fraud prevention agencies from whom we obtain and with whom we record information about you.

In this event, or if you have any other enquiry relating to your data, please send an e-mail to info@teamfactors.co.uk with the subject "Data Protection" stating your full name and your request. Alternatively you can telephone our Data Protection Officer on 01923 882910 or write to Data Protection Officer, Team Factors Limited, Unit 21-23 John Dickenson Enterprise Centre, Stationers Place, Apsley Herts HP3 9QU.

You have a right at any time to receive a copy of the information we hold about you if you apply to us in writing. 

For training and/or security purposes phone calls to us may be monitored and/or recorded.

Supervisory authority

You also have a right to complain about our use of your data to our supervisory authority, the Information Commissioner’s Office.

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