This privacy notice applies to all Merchant Factors clients and clients’ debtors.
The purpose of this privacy notice is to help you understand how we collect, use, share, protect and store your personal information.
We may update this privacy notice occasionally. We will inform you when we do.
Please email firstname.lastname@example.org if you have any questions.
1. What personal information we collect and generate
|We collect information that helps us determine a client’s eligibility for our services (i.e. factoring, trade finance and bridging finance).||We collect:
|We generate information about clients and clients’ debtors in the form of records.||We generate:
2. When and why we collect and process your personal information
|When we collect and use your personal information||Why we collect your personal information|
||We process this information to meet our contractual obligations with a client.|
||We process this personal information with your consent.|
3. In order to deliver services to you, we must share your information with others we trust
|Merchant Factors provides for appropriate safeguards by means of contracts signed between these registered credit bureaus and us.||With a client or client’s debtor’s consent, we share their information with registered credit bureau in order to determine the client’s eligibility for our services. We use various registered and compliant credit bureaus.|
|Merchant Factors provide appropriate safeguards through the contract signed between us and all service providers we use.||We use service providers to help us:
Some of our service providers may be located in other countries. These countries may not have the same levels of protection of personal information as South Africa, in which case the service provider must undertake to protect the personal information of the course participants to the same level that we do.
We provide for appropriate safeguards by means of contracts between us and our foreign service providers.
4. We have taken reasonable steps to minimise the impact of a breach
|We have reasonable security safeguards in place to protect your personal information.||Our security safeguards are in place to protect your personal information from:
|We review our security safeguards regularly to ensure they are being implemented properly.
We also review our security safeguards’ adequacy regularly to ensure they are secure enough to protect all the information we store against all known risks and deficiencies.
|These safeguards are reviewed regularly to ensure they are working properly and are strong enough to protect your personal information against all known risks and deficiencies.
But no system is perfect, and we cannot guarantee that your personal information may not be accessed, disclosed, altered or destroyed by a breach of any of our security safeguards.
|We will let you know of any breaches that may affect your personal information.||If something should happen, we will take steps to minimize the threat to your privacy, and we will let you know if your personal information has been compromised.
We will also let you know how you can help minimize the impact of a breach.
5. Why, how and for how long we store your personal information
|We keep records of your personal information which are essential for historical, commercial and legal purposes.||We have to keep client and clients’ debtors’ personal information for as long we are providing services to a client or receiving payments from a client’s debtors.
We also have to keep this information in order to comply with certain laws, such as the Financial Intelligence Centre Act (FICA).
We will not keep your personal information for longer than we need to or than we are legally required to.
6. You have the right to know what we know about you, and what we do with that information
You can request access to the information we hold about you or correct your personal information by contacting email@example.com.
It may take us up to 21 days to respond to your request, because there are procedures we need to follow. In certain cases, we may require proof of your identity.
You have the right to:
- ask what personal information we hold about you, ask when we collect and process the personal information we hold about you, and ask how we collect and process the personal information we hold about you.
- request access to the personal information we hold about you.
- request that we delete your personal information.
- ask us to update or correct any out-of-date or incorrect personal information we hold about you.
- ask what personal information of yours was sent to any other third party.
- unsubscribe from any direct marketing communications we may send to you.
- object to the processing of your personal information.
- lodge a complaint with the Information Regulator.