Your Privacy Act, Consent, Authority and Agreement
Completion of the Commission Advance Application
By signing and submitting the Commission Advance Application (Application), the individual(s) named in the Application are:
- applying to Commission Flow Pty Ltd (ACN 164 355 051) “Commission Flow” for asset based finance.
- confirming to us that any details that have been supplied are true and correct.
- authorising us to make enquiries with customers and suppliers (including credit checks) and other enquiries in connection with the application, where we have explained the consequences of such enquiries and the use we obtain about the information on you and its disclosures.
You acknowledge your full understanding of these issues in accordance with the Commonwealth Privacy Act.
All parties to this finance or credit application who are natural persons should after reading very carefully the items set out below, complete the Commission Advance Application.
Privacy consent for disclosure of information
I/We, being natural persons to whom the Privacy Act and the National Privacy Principles apply, hereby acknowledge and agree –
a) that Commission Flow (and/or its related companies) will collect, record and store personal information that identifies me/us or from which my/our identity can be reasonably ascertained (“personal information”) in order from time to time –
i) to assess finance applications submitted by the Client (“finance applications”); and
ii) to manage credit facilities provided to the Client (“credit facilities”), including (but not limited to) the recovery of money owing, the administration of insurance claims, the maintenance of securities and/or the maintenance of goods; and
iii) to establish my/our address or whereabouts if correspondence or notices sent to me/us have not been deliverable; and
iv) to identify and send to me/us information about other products or services that it is considered will be of interest to me/us but on the understanding that I/we may at any time stop this happening by contacting Commission Flow.
b) that personal information may be obtained from third parties including credit reporting agencies, other credit providers, trade suppliers and public records including (but not limited to) electoral rolls, land title registers, registers of births deaths and marriages, registers of drivers’ licences (or other statutory or professional licences), motor vehicle registers, business names’ registers, bankruptcy records, court judgements, telephone numbers and tenancy records.
c) that without personal information being collected, Commission Flow will be unable to assess finance applications or manage credit facilities that relate to the Client;
d) that, except in limited circumstances, I/we can obtain details of the personal information Commission Flow holds about me/us by sending a request to Commission Flow at our trading/postal addresses.
e) that subject to the provisions of the Privacy Act, some of the personal information collected by Commission Flow may be disclosed to parties outside of Commission Flow (and its related companies), but only so Commission Flow can obtain securitised funding for its business, process credit applications from the Client or from me/us, keep its records up to date and/or manage credit facilities provided to the Client. Disclosure to outside parties may also be made if it is required or authorised by law. The types of organisations to whom information might be disclosed include (but are not limited to) –
i) credit reporting agencies;
ii) other credit providers including securitised lenders to Commission Flow;
iii) a solicitor, accountant or broker acting on your behalf;
iv) suppliers and/or repairers of the goods or security which are the subject of a credit facility;
v) insurers, insurance brokers, insurance assessors or insurance investigators;
vi) trade, commercial and/or mercantile agents and auctioneers;
vii) auditors, solicitors, valuers, engineers, quantity surveyors or other professional consultants engaged or act for or to advise Commission Flow in connection with a credit application or credit facility relating to the Client;
viii) insolvency practitioners such as Administrators, Receivers and Liquidators, if there is default in regard to a credit facility provided to the Client;
ix) auditor’s appointed to examine the records of Commission Flow; and,
x) the Australian Taxation Office and the Australian Securities & Investments Commission.
Authority from the Client, who is a natural person; director/s of the Client and/or guarantor/s or proposed guarantors for Commission Flow to perform Certain Actions.
I/We, the Client, acknowledge and agree –
a) that if it is considered relevant in assessing my/our application, Commission Flow or its agent may obtain a report about my/our commercial activities or commercial credit worthiness from a business which provides information about the commercial credit worthiness of persons.
b) that if it is considered relevant in assessing my/our application for commercial finance, Commission Flow may obtain from a credit reporting agency a credit report containing personal credit information about me/us.
c) that if it is considered relevant to collecting overdue payments in respect of commercial finance provided to me/us, Commission Flow may receive from a credit reporting agency a credit report containing personal information about me/us.
d) that Commission Flow may give to and seek from any other credit providers named in the Commission Advance Application and any credit providers that may be named in a personal or commercial credit report issued by a credit reporting agency or a commercial credit reporting agency respectively, information about my/our personal or commercial credit arrangements. I/We understand that this information can include any information about my/our credit worthiness, credit standing, credit history or credit capacity that credit providers are allowed to give or receive from each other under the Privacy Act.
e) that Commission Flow may give to any guarantor or proposed guarantor any personal credit information or records that has/have a bearing on my/our credit worthiness, credit standing credit history or credit capacity in connection with my/our personal credit facilities. In the case of a proposed guarantor, the information is for the purpose of deciding whether to act as guarantor of or to offer security for such credit facilities.
f) that Commission Flow may give to any guarantor of my/our personal credit facilities under a contract of guarantee or security entered into before the date of this authority, any personal credit information that is relevant to the amount or possible amount of the guarantor’s liability under the contract of guarantee or security.
g) that Commission Flow may provide information about the amount outstanding on the credit facility to any nominated person, to any related company, or to an insurer handling an insurance claim relating to goods which are the subject of the credit facility or to property held as security for the credit facility.
h) that Commission Flow (or any of its related companies) may use the information it has collected or will collect in connection with the credit facility for recovering any amounts owed by me/us to Commission Flow or a related company on any other account as well as any amount which Commission Flow or a related company is recovering as the agent of another party.