Credit Reporting Policy
Effective 12 March 2014.
MITSUBISHI ELECTRIC AUSTRALIA PTY LIMITED
- This Credit Reporting Policy explains how Mitsubishi Electric Australia Pty Limited (“MEAust”, “us” or “we”) will manage your credit information and credit eligibility information (credit-related information). Our handling of your credit-related information is in compliance with our obligations under the Privacy Act 1988 (Cth) and the Credit Reporting Privacy Code.
Credit-Related Information Collected
- We collect various types of information from you if you apply for credit from us including details of your assets and liabilities, financial position and details of your bank account. We may obtain this information when you contact us in person, by phone or email or if you complete a credit application form. In particular, we may collect:
- “credit information” from you, such as:
- identification information, such as your name, address, date of birth and driver’s licence number;
- repayment history;
- the type of commercial credit and amount of credit sought in your credit application; and
- default information and payment information;
- “credit eligibility information” about you, which is information provided to us by credit reporting bodies, such as Veda; and
- “credit provider (or “CP”) derived information”, which is personal information we derive from information that a credit reporting body may provide to us, such as credit scores.
- Broadly speaking, “credit information”, “credit-eligibility information” and “CP derived information” are the types of credit-related information referred to in the Privacy Act. In our Credit Reporting Policy, we use the term “credit-related information” to refer to some or all of these types of credit information.
- We may also collect credit-related information:
- from your authorised representatives, such as your legal adviser, accountant, trustee or your employer.
- to comply with any applicable legal or regulatory requirements.
Use of Credit-Related Information
- We collect, hold, use and disclose credit-related information for the purpose of assessing your application for commercial credit and providing you with access to commercial credit facilities. From time to time, we may also use this information to review our credit arrangements with you.
- If you are offering to act as guarantor, we may use your credit-related information to assess whether to accept you as a guarantor.
- We may also use your credit-related information:
- to advise you when payments are overdue and to collect overdue payments from you;
- for internal management purposes, which are directly related to the management of commercial credit;
- to notify others of a default by you, if permitted under the law; and
- to comply with any applicable legal or regulatory requirements.
Disclosure of Credit-Related Information
- From time to time, we may disclose your credit-related information to the following:
- third parties when permitted and we believe on reasonable grounds that you have committed a serious credit infringement;
- Veda, a credit reporting body;
- to other credit providers where you have consented and where permitted by law;
- where permitted, debt collection agencies; and
- any other persons or entities where we are required or authorised by law.
- Where we do provide your credit-related information to third parties, we will take reasonable steps to ensure that your privacy is protected.
- We take such steps as are reasonable in the circumstances to ensure that we maintain strict standards and procedures to:
- protect your credit-related information from misuse, interference and loss;
- protect your credit-related information from unauthorised access, modification and disclosure.
Access and Correction of Your Credit-Related Information
- MEAust is committed to ensuring that the credit-related information we:
- use relating to you is accurate, up-to-date and complete; and
- disclose in relation to you is accurate, up-to-date, complete and relevant.
- You can access the credit-related information MEAust holds about you by sending an email to firstname.lastname@example.org requesting assess or by contacting us during ordinary business hours using the details set out under the heading ‘Contact Us’.
- We will allow access unless we consider that there is a sound reason under the Act or other relevant law to withhold access. If we refuse to provide you with access we will provide you with a written notice setting out the reasons for the refusal (unless it is unreasonable to do so).
- If you are not satisfied with our response, you may then make a complaint to the Office of the Australian Information Commissioner under Part V of the Privacy Act.
- If you believe your information is inaccurate or incorrect, you may also request the correction of the credit-related information MEAust holds about you by sending an email to email@example.com or by contacting us during ordinary business hours using the details set out under the heading ‘Contact Us’.
- Please contact us whenever there is a change to your credit-related information.
- If we are satisfied that the information requires correction, we will take such steps as are reasonable, in any, in the circumstances to correct the information within thirty (30) days of the date on which you made the correction request. This period may be extended if you agree in writing.
- If we correct your credit-related information, we will provide you with a written notice of correction within a reasonable timeframe.
- If we do not correct the information, we will provide you with a written notice stating that the correction has not been made, which will also include our reasons for not making the correction.
- If you have a complaint regarding the way in which your credit-related information is being handled by us, please contact us in the first instance by sending an email to firstname.lastname@example.org or by using the details set out under the heading ‘Contact Us’ and provide us with the nature of your complaint.
- On receipt of your complaint we will within seven (7) days of receiving the complaint, provide you with written notice acknowledging the making of the complaint and setting out how we propose to investigate and deal with the complaint.
- We will then investigate / deal with the complaint.
- Within thirty (30) days of receiving the complaint, we will endeavour to make a decision regarding the complaint and provide you with a notice setting out our decision and other matters required by law.
- If we cannot respond to you within thirty (30) days, we will notify you of the reasons why before the expiry of the thirty (30) days and we will seek your agreement to an extension of the time, as well as inform you of when you can expect our response.
- If you are not satisfied with the outcome, you may take your concern to the Office of the Australian Information Commissioner.
Changes to this Credit Information Policy
- MEAust may make changes to this Credit Information Policy from time to time for any reason whatsoever. We will publish any changes on this website. By continuing to use our website or by continuing to provide us with your credit-related information, you confirm your acceptance of these changes.
- Prior to acting or omitting to act in reliance on the matters set out in this policy, we recommend that you review the policy published on our website at http://www.mitsubishielectric.com.au to ensure you are guided by the most up-to-date version of this policy.
- if you have any questions, complaints or require feedback about this policy, please contact our Privacy Officer by post at 348 Victoria, Rydalmere, NSW 2116, via email at email@example.com or by telephone on (02) 9684 7777.
- For clarity, we are happy to deal with any enquiry or complaint you may have about us on the basis that you do not identify yourself or use a pseudonym (to the extent practical).