Privacy Disclosure Statement and Consent
We are collecting personal information about you to provide you with broking services. If your information is not provided we may not be able to find an appropriate loan for you.
What is Personal Information?
Personal Information is any information about an individual that identifies them or by which their identity can reasonably be ascertained.
Why personal information is collected?
We collect the personal information needed to provide the products and services we offer. Those products and services include various types, insurance products and other financial services within Australia.
We collect personal information about customers, so we can complete business transactions, purchase products and services, administer accounts, provide customer support, respond to customer enquiries and requests for product information and meet regulatory requirements.
If we are unable to collect personal information from or about an individual, it may not be able to do business with that individual or the organisation with which the individual is connected.
How personal information is collected?
Where possible, we will collect personal information directly from the individual it relates to. This may take place in a number of ways, such as when an application for a product or service is completed or a product or service is requested over the telephone or Internet.
We will also collect personal information during the course of our relationship with customers, for example where loan arrangements with us are varied, or new information is supplied and verified.
Sometimes, personal information may be collected from a source other than the individual to which it relates. Some examples are:
· where we obtain a credit report about an individual from a credit reporting agency in the course of assessing a loan application;
· from an accountant where we approach the accountant in assessing a loan application;
· where an individual is an officer of a company that has applied for finance with us, we may obtain information about the officer from public records or from other officers of the company who arrange the company’s finance application
Use of our properties such as Website, Facebook and other data collecting mediums. When an individual visits our website, Facebook page and other marketing mediums, we may record and capture the individual’s server address, domain name, the date and time of the visit and the pages viewed or access this information via the medium.
An individual who visits the site will not be required to provide us with any personal information unless that individual requests information about our product or service. In that case, we will ask the individual to provide contact details along with other information required to respond to the individual’s request. The information provided may also be retained for product planning purposes, and unless the relevant individual asks us not to do so, for marketing purposes. Although we take steps to protect information sent by email, email is not a secure method of communication and individuals who are concerned about sending their personal information to us in this manner may prefer to call our Customer Support Team on 07 3733 3189.
How we use your personal information that is collected?
We may use your information to provide you with offers or information of other goods or services we or a third party may be able to provide you with, unless you tell us not to.
We may disclose your information to other organisations to fulfil the purposes identified (or purposes related to those purposes). The types of organisations we may disclose and collect your personal information include:
- Credit Reporting Agencies;
· Other organisations which may assist you that are related to your enquiry; and
· Other organisations, which assist us (such as data collection agencies, media agencies, printers, mailing houses, lawyers, debt collectors and accountants).
In addition, we may disclose your personal information to any other organisation that may wish to, or has acquired, an interest in your loan or in our business. You can gain access to the information we hold about you by contacting us at the above address.
You authorise us to obtain credit reports and any other information relating to your credit worthiness, including conducting an Australian or New Zealand credit check.
You authorise us to validate personal information you have provided.
You authorise us to confirm insurance details with your insurance companies and confirm with any debtors/creditors the conduct of your accounts, credit balances or outstanding balances and the ability to request copies of loan statements and payout figures.
Sometimes, the law requires us to disclose personal information. For example, information may be disclosed to a court in response to a subpoena or to a Government agency such as the Australian Taxation Office on receipt of a direction issued under taxation laws.
We may also disclose an individual’s personal information where the individual consents to us doing so. That consent may be written, verbal or implied from the individual’s conduct.
We will not disclose personal information to overseas recipients. How secure is my information?
The security of information is important to us and we take all reasonable precautions to protect personal information from misuse, loss, unauthorised access, modification or disclosure.
Some of the ways we protect personal information include:
- external and internal premises security;
· restricted access to personal information to staff who need it to perform their day to day functions;
· maintaining technology products to prevent unauthorised computer access including identifiers and passwords; and
- maintaining physical security over paper records.
- access to and correction of personal information by individuals
An individual can access most of the personal information we hold holds about them. If an individual requests us to correct personal information we hold in relation to the individual, we will take reasonable steps to correct the personal information to ensure that, having regard to the purpose for which it is held, the information is accurate, up to date, complete, relevant and not misleading.
Information can be accessed, and a request to correct the personal information made, by contacting our Customer Support team on 07 3733 3189.
Depending on the amount of information requested to be access, we may charge an access fee to cover the cost of retrieving the information and supplying it to the person who has requested access.
Access to personal information may be refused in a number of circumstances, such as where the information relates to anticipated legal proceedings or the request for access is frivolous or vexatious. If we deny or restrict an individual’s access, we will explain why in writing.
Why is it important to keep my person information up to date?
We rely on the personal information we hold in conducting our business. Therefore, it is very important that the information we hold is accurate, complete and up to date.
We take reasonable steps to ensure that the personal information we hold is accurate, complete and up to date whenever we collect or use it. This means that from time to time, we will ask individuals to tell us if there are any changes to their personal information. If an individual finds that information we hold about them is incorrect, they should contact us immediately and we will correct it by contacting our Customer Support team on 07 3733 3189.
Resolving privacy concerns?
We are dedicated to providing the highest quality service to you and encourage your feedback. In the unfortunate circumstance that you feel in any way that our service has failed to meet the privacy standards expected, please allow us the opportunity to respond and correct any negativity.
If an individual believes that the privacy of their personal information has been compromised, they are entitled to complain.
Complaints can be made by the individual contacting the person or department they were dealing with or by calling our Customer Support team on 07 3733 3189 and asking for the Dispute Resolution Officer. We will respond to complaints as soon as possible.
If you disagree with our decision, you may refer your complaint to the Office of the Australian Information Commissioner by visiting www.oaic.gov.au, calling 1300 363 992 or by emailing firstname.lastname@example.org
Individuals who would like more information about our approach to privacy are encourage to contact our Customer Support team on 07 3733 3189.
Important information from the Broker: BRAID FINANCE PTY LTD
PRIVACY AUTHORISATION FOR INTRODUCERS / BROKERS & CREDIT PROVIDERS TO HANDLE PERSONAL INFORMATION OF INDIVIDUALS TO ARRANGE FINANCE.
A: ACKNOWLEGEMENT BY APPLICANT(S) & / OR GUARANTOR(S) FOR INTRODUCER/BROKER & APPROACHED CREDIT PROVIDERS TO HANDLE PERSONAL INFORMATION.
By signing this Authorisation I/we, the Applicant(s) and/or Guarantor(s), acknowledge the following:
You, the Introducer/Broker, will refer the finance application to Credit Providers (the Approached Credit Providers) for their approval decision and assist me/us to manage the finance that is obtained from the Credit Provider that approves the finance application referred by You.
For that purpose, You and the Approached Credit Provider(s) will collect, use and disclose information about me/us that identifies me/us or from which my/our identity can be reasonably ascertained (the Information). The Information may include my/our identity details, financial details and employment details. It may also include “sensitive information” (eg health information, membership of professional/trade associations) in relevant circumstances and I/we consent to its collection.
The Information may be collected from me/us. The Information may also be collected from and disclosed to others to achieve the purpose by You and/or the Approached Credit Provider. In particular collected from and / or disclosed to my/our financial/accounting/legal adviser(s), the Applicant(s), the Guarantor(s), Credit and Business Reporting Agencies, current or previous Credit Providers, suppliers of goods financed by or secured as part of the finance, insurers of the finance or goods, valuers, legal representatives of You and/or the Approached Credit Providers, government departments (including, but not limited to, the ATO, ASIC, Registrars of business names, land/other assets, births deaths marriages, drivers licences). Only Information necessary for You or the Approached Credit Provider(s) to arrange the finance will be collected, used or disclosed. More specific detail for handling of information about my/our consumer and/or commercial credit worthiness, credit standing, credit history or credit capacity and the amount of credit currently outstanding (the Credit Information) is contained below in Parts B and C of this form. Should an Approached Credit Provider decline the finance application submitted by You it may hold the Information in its record for a reasonable period from the date of this Authorisation to establish a credit history for any future finance applications submitted to it involving me/us within that time or as required or authorised by law. You and the Approached Credit Providers will not otherwise use or disclose the Information for any other purpose without consulting me/us before doing so. In particular, the Approached Credit Providers will not use or disclose the Information for the purpose of marketing other products or services to me/us.
I/we can access the Information about me/us held on record by You and the Approached Credit Provider(s). Contact detail of the Approached Credit Providers is available from you. You and the Approached Credit Provider(s) may limit access in certain circumstances.
If I/we decline to provide all or part of the Information, You or the Approached Credit Providers may not be able to process the finance application.
If I/we provide information about any other individual(s) to You, that I/we will ensure that he/she is made aware that You have his/her Information, the purposes (and persons involved) in the collection, use and/or disclosure of the information by You and your contact details (including to access that information). Any consent(s) given in this Authorisation will continue until the earlier of You or the Approached Credit Provider(s) having achieved the purposes of collection, use and/or disclosure identified above or I/we giving seven days notice in writing to You and the Approached Credit Provider(s).
B: CONSENT FOR INTRODUCER / BROKER TO ACT AS AGENT OF APPLICANT(S) / GUARANTOR(S) TO COLLECT AND DISCLOSE CREDIT INFORMATION FOR THE FINANCE APPLICATION:
By signing the Authorisation, I/we acknowledge and consent to You, subject to the Commonwealth Privacy Act, for the purpose of arranging and managing the finance, to act as our agent with full authority to collect, use and disclose information about me/us relevant to that purpose. This includes, but is not limited to, authority to: obtain access to information about my/our consumer and/or commercial credit worthiness, credit standing, credit history or credit capacity (the Credit Information) from a Credit Reporting Agency and/or a Commercial Credit Reporting Business and/or from a Credit Provider named in the finance application or referred to in the Credit Report and / or from the Approached Credit Provider(s). Disclose the Credit Information to the Approached Credit Provider(s) for their approval decision of the finance application.
C: AUTHORITY FOR APPROACHED CREDIT PROVIDER(S) TO COLLECT AND DISCLOSE CREDIT INFORMATION ABOUT APPLICANT(S)/GUARANTOR(S) TO PROCESS FINANCE APPLICATION:
By signing the Authorisation, I/we acknowledge and consent to Approached Credit Provider(s), subject to the Commonwealth Privacy Act, collecting, using and disclosing Credit Information [as defined above at Part A] if necessary for their approval decision of the finance application submitted by You. This includes, but is not limited to: Disclose information about me/us to a Credit Reporting Agency namely, my/our identity details and either that I/we have applied for credit and the amount or that I/we have offered to act as Guarantor(s) in respect of that credit in order for the Approached Credit Provider to collect Credit Information from that Agency and for the Agency to create or maintain a record of Credit Information about me/us. Collect Credit Information about my/our commercial activities or commercial credit worthiness from a Commercial Credit Reporting Business Disclose to, and collect from any of my/our current or past Credit Providers named in the finance application or in Credit Information issued by a Credit Reporting Agency or a Commercial Credit Reporting Business respectively, Credit Information about my/our consumer or commercial credit arrangements. This may include a “banker’s opinion”. Disclose to and collect from the Guarantor(s) Credit Information necessary for the purpose of that person deciding whether to act as guarantor(s), or to keep the Guarantor(s) informed about the guaranteed finance. Disclose to and collect from You; the abovenamed Introducer/Broker, as my/our authorised agent. We acknowledge that this does not limit any Approached Credit Provider, in its absolute discretion, dealing directly with me/us for its approval decision. Disclose to and collect from insurers (including trade and mortgage) or underwriters as necessary for them to assess whether to insure risks that may arise from the finance. Disclose to and collect from government authorities or others as required or authorised by law. Disclose to and collect from government authorities or others to, in particular, enable me/us to be identified and/or to verify information that I/we have provided. It may include administrators of births, deaths and marriages, motor vehicles (or other property) registrations, drivers (or other statutory) licences, electoral roll(s), land titles, financial interests in motor vehicles (or other property), business names or corporate governance, bankruptcies and court judgments, telephone numbers, tenant information and professional licences/authorisations.
D: OBTAINING INFORMATION FROM VEDA NEW ZEALAND (IF APPLICABLE):
By signing the Authorisation, I/we acknowledge & understand that Braid Finance Pty Ltd are asking me for personal information about me so as to use Veda’s Credit Reporting service in Australia and New Zealand, if applicable to credit check me: I understand that:
· Veda Australia and Veda (NZ) will give Braid Finance Pty Ltd the information about me for that purpose.
· You will give your personal information to Veda Australia & Veda (NZ) & that Veda Australia & Veda (NZ) will hold that information on their systems & use it to provide their reporting service.
· When other Veda Australia and Veda (NZ) customers use the Veda Credit reporting service, Veda Australia or Veda (NZ) may give the information to those customers.
· When other Veda Australia and Veda (NZ) customers use the credit reporting service Veda Australia and Veda (NZ) will give them the customer’s updated information.
What are the nature and range services you provide?
We have access to a large panel of lenders to source finance solutions applicable to your circumstances and needs. Braid Finance is dedicated to providing a high quality of service to you and will therefore consider your requirements, objectives and financial position in determining options that are not suitable for your purpose.
How long does it take to establish eligibility for a loan?
We expect to obtain a decision about your loan application within 5 7 working days of you signing the finance contract. In most situations, approval can be obtained faster.
Our appointment under this contract will expire two months (90 days) after the date of this contract unless a loan agreement has been effected.
Who are your lenders?
We partner with Australia’s most trusted financiers and insurers. Please see below a current list of lenders but please note we may from time to time, add or cease partnering with certain lenders in the general course of business.
Subject to you meeting the lenders credit criteria, we are able to obtain credit for you from these lenders with which hold accreditation. Please ask if you require more information on these particular lenders. Please note that these lenders do not necessarily represent all the lenders who offer credit of the nature you seek.
- Macquarie Bank
- Affordable Car Loans
- Money 3
Fees & Commission:
We do not charge any up front application fees. If the loan is not approved there is no charge. However, you may need to pay the lender’s application fee, valuation fees or other fees. We will advise you if this is required prior to you incurring any fee.
We generally charge a service fee for our brokerage services. This charge is calculated as a % of the loan amount or a fixed amount of up to $1200 whichever is the greater and will apply if we are successful in establishing an offer to borrow from one of our panel lenders.
If your loan is approved, this amount can often be paid from the loan proceeds.
If we obtain Unconditional approval for you and you do not proceed to draw the loan you must pay us the brokerage fee and associated fees within 30 days of the loan expiring.
Authorisation for signing the quotation validates this charge provided to you. Lenders pay us commission for arranging loans.
Commission’s can range and include
- Volume Bonus
If you so require, you should ask where in this range a proposed lender you have chosen sits, their role, identity and amount payable to such party. We can provide you with the actual amount of the broker’s commission once ascertainable.
At our own discretion, we may pay a referral fee to any external party who referred your business to us. Any fee we may be charged is not passed onto the consumer. All fees include GST.
Important information of our obligations to you and your obligations to us.
We are dedicated to providing the highest quality service to you and encourage your feedback. In the unfortunate circumstance that you feel in any way that our service has failed to meet the standard expected, please allow us the opportunity to respond and correct any negativity.
In the first instance, we suggest that you contact our Customer Satisfaction Department either by phone or mail. Our phone number is 07 3733 3189 and our postal address is 11 Jalanga St, Belmont Queensland 4119 Australia. We also welcome email correspondence at email@example.com
We promise to assess any complaint and provide a report if required on our findings using the same formality as the method of the complaint to indicate respect for your chosen communication style.
Should you remain dissatisfied with our service or any element of conduct experienced throughout the loan process we advise our of membership to the ASIC approved Dispute Resolution scheme to provide you external complaint assistance. This is further protection for you to feel confident in your application process.
Important Information for your consideration:
· Before you accept your loan offer, make sure you read the credit contract/loan agreement carefully to find full details of the loan. Warning: you should check the loan agreement/credit contract to ensure that the terms of the loan do not vary from what you require. If they do, inform us immediately so that we can assist you.
· We are obliged to act in your best interests and give you undivided loyalty unaffected by any of our interests. However, we also represent lenders and have obligations to them, in particular not to provide any information we know is misleading or deceptive. We also have obligations under the law to report any fraud, forgery or other illegal activities. By signing this agreement you confirm that you understand that we have these obligations to the lender and under the law. If you have any questions about our role, ask before you sign.
· Under the law, we are required to ensure that the finance we arrange for you is not unsuitable. Accordingly we will make reasonable enquiries in relation to your needs, objectives and financial circumstances. Warning: The proposed loan arrangements will be based on the products available from our panel lenders and the information provide by you. If the information you provide is incomplete or inaccurate, then before entering the loan you should consider the loan’s appropriateness having regard to your relevant personal circumstances and if necessary seek independent financial advice.
f you are refinancing a loan, and your commitments will be increased, you should seek independent financial advice to make sure that you are able to meet the increased commitments. Warning: Your regular repayments may not increase, but the total you have to pay may increase for example by having to make repayments over a longer period.
· We do not provide legal or financial advice unless specified in a separate contract. Accordingly, it is important you ensure understanding of your legal obligations under the loan, and the financial consequences. If you have any doubts, you should obtain independent legal and financial advice before your enter the loan contract.