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Important Data Protection

A Guide to the use of your personal and business data by Oracle Asset Finance Limited, Our Panel of Lenders and Credit Reference and Fraud Prevention AgenciesIntroduction

Oracle Asset Finance recognises our responsibility to keep the information you provide to us confidential at all times. This document fully sets how your data may be used in our capacity as a finance broker dealing with a panel of lenders; and also as a lender of our own funds.

Important Your Personal Information

What Oracle Asset Finance Limited does

1. When you apply to us for credit, Oracle Asset Finance may:

a) Check our own records for information on:
i. Your and your business partners' (if you have one/any) personal accounts
ii. Your business accounts.
iii. Shareholders who are beneficial owners of 25% or more of the business

b) Search at credit reference agencies for information on:
i. Public data on your and your business partners' personal credit behaviour
ii. Information on the conduct of your and your business partners' personal credit accounts if you are proprietors of a small business ;
iii. your business
iv. your business accounts;
v. Identity information on beneficial owners of the business
vi. If you are a director, we will seek confirmation, from credit reference agencies, that the residential address that you provide is the same as that shown on the restricted register of directors' usual addresses at Companies House.

b) Search at fraud prevention agencies for information on your business, you, your business partners, beneficial owners and your address(es).

2. What we do with the information you supply to us as part of the application:

a) Information that is supplied to us will be sent to the credit reference agencies.

b) In our capacity as a finance broker, the information that you have provided may be passed on to one or more lenders to assess your application.

c) If you give us false or inaccurate information and we suspect or identify fraud, we will record this and may also pass this information to fraud prevention agencies and other organisations involved in crime and fraud prevention.

d) Your data may also be used by us, to offer your business other products. You may opt out by advising us at any time by calling 08450 949100 or emailing us at info@OracleFinance.co.uk.

e) Record information at credit reference agencies about your application, your business, you and your businesses partners.

f) If you provide information about shareholders we will record this information at credit reference agencies

So you must be sure that you have the agreement of your business partners and shareholders to disclose information about them.

3. With the information that we obtain we will:

a) Assess your application for credit and/or;

b) Check details on applications for credit and credit related or other facilities;

c) Verify your identity and the identity of, other directors/ business partners and shareholders;

d) Undertake checks for the prevention and detection of crime or fraud and/or money laundering;

e) We may use scoring methods to assess your application and to verify your identity;

f) Manage your personal and/or business account (if you have one) with ourselves;

g) Any or all of these processes may be automated.

4. What we do when you have an account:

a) Where you borrow or may borrow from us, we will give details of your business account, including names and parties to the account, and how you manage it to credit reference agencies.

b) If you borrow and do not repay in full and on time, we will tell credit reference agencies.

c) We may make periodic searches of our own group records and credit reference agencies to manage your account with us, including whether to continue or extend existing credit. We may also check at fraud prevention agencies to prevent or detect fraud.

d) If you have borrowed from us and do not make payments that you owe us, we will trace your whereabouts and recover payment.

How to find out more

You entitled on payment of a fee, to a copy of the records we hold about you. We will also disclose details of the agencies and lenders we pass information about you. To obtain this information, you should write to the Data Manager, Oracle asset Finance Limited, Oracle House, Whitfield Business Park, Manse Lane, Knaresborough HG5 8BS

What Credit Reference and Fraud Prevention Agencies do

5. When credit reference agencies receive a search from us they
will:

a) Place a credit search "footprint" on your company credit file whether or not your application proceeds. If the search was for a credit application the record of that search (but not the name of the organisation that carried it out) may be seen by other organisations when your business applies for credit in the future.

b) Place an enquiry search on the personal credit files of any director/owner or partner that have been searched. These enquiry searches will not be seen by other organisations if any director/owner or partner applies for credit in the future.

c) Link together the previous and subsequent names advised by you, of anyone that is a party to the account.

d) Place an enquiry or identification search on the record of any shareholder who is a beneficial owner and who we have checked.

e) Create a record of the name and address of your business and its proprietors if there is not one already.

Supply to us:

f) Information about your business or company such as previous applications for credit and the conduct of the accounts; and also similar personal credit information in your name and of your business partners.

g) Public information such as County Court Judgments (CCJs) and bankruptcies.

h) Electoral Register information on you and your business partners.

i) Fraud prevention information.

j) Confirmation or otherwise that the usual residential addresses supplied by directors match those on the restricted register held at Companies House (or for those directors' addresses registered under section 243 of the Companies Act, that the usual residential addresses supplied by directors match those on the credit reference agency's proprietary business directory)

6. When information is supplied by us, to them, on your account(s):

a) Credit reference agencies will record the details that are supplied on your business and business account including previous and subsequent names of parties to the account and how you manage it/them.

b) If your business borrows and does not repay in full and on time, credit reference agencies will record the outstanding debt.

c) Records shared with credit reference agencies remain on file for 6 years after they are closed whether settled by you or defaulted.

d) Information on shareholders who are beneficial owners will be used and supplied to others only
i) for the purpose of the performance of identity checks
ii) with their specific consent

7. How your data will NOT be used by credit reference agencies:

a) It will not be used to create a blacklist.

b) It will not be used by the credit reference agency to make a decision.

How your data WILL be used by credit reference agencies:

c) The information which we and other organisations provide to the credit reference agencies about you, your business partners and details about your business (see 5e above) may be supplied by credit reference agencies to other organisations and used by them to:

i) Prevent crime, fraud and money laundering by, for example checking details provided on applications for credit and credit related or other facilities
ii) Check the operation of credit and creditrelated accounts
iii) Verify your identity if you or your business partner(s) applies for other facilities.
iv) Make decisions on credit and credit related services about you and/or your business partner, or your business.
v) Manage your personal, your business partner's and/or business credit or credit related account(s).
vi) Trace your whereabouts and recover debts that you owe.
vii) Undertake statistical analysis and system testing.

8. How your data may be used by fraud prevention agencies:

a) The information which we provide to the fraud prevention agencies about you, your business partners and your business may be supplied by fraud prevention agencies to other organisations and used by them and us to prevent crime, fraud and money laundering by, for example:
(1) checking details provided on applications for credit and credit related or other facilities
(2) Managing credit and credit related accounts or facilities
(3) Cross checking details provided on proposals and claims for all types of insurance.
(4) Checking details on applications for jobs or when checked as part of employment

b) Verify your identity if you or your business partner(s) applies for other facilities including all types of insurance proposals and claims.

c) Trace your whereabouts and recover debts that you owe.

d) Conduct other checks to prevent or detect fraud

e) Organisations may access and use from other countries the information recorded by fraud prevention agencies.

f) Undertake statistical analysis and system testing.

9. Your data may also be used for other purposes for which you give your specific permission or, in very limited circumstances, when required by law or where permitted under the terms of the Data Protection Act 1998.

10. Your data may also be used to offer you other products, but only if permitted.

How to find out more

For information about your personal data you can contact the 3 agencies currently operating in the UK; the information they hold may not be the same so it is worth contacting them all. They will charge you a small statutory fee.

CallCredit, Consumer Services Team, PO Box 491, Leeds, LS3 1WZ or call 0870 0601414 (Personal credit data only)
Equifax PLC, Credit File Advice Centre, PO Box 3001, Bradford, BD1 5US or call 0870 010 0583 or log on to www.myequifax.co.uk
Experian, Consumer Help Service, PO Box 8000, Nottingham NG80 7WF or call 0870 241 6212 or log on to www.experian.co.uk.

What our panel of lenders do

1. When our lenders receive information from us, they may:

a) Check their own records for information on:
i. Your and your business partners'1 (if you have one/any) personal accounts
ii. Your business accounts.
iii. Shareholders who are beneficial owners of 25% or more of the business

b) Search at credit reference agencies for information on:
i. Public data on your and your business partners' personal credit behaviour
ii. Information on the conduct of your and your business partners' personal credit accounts if you are proprietors of a small business2;
iii. your business
iv. your business accounts;
v. identity information on beneficial owners of the business
vi. If you are a director, they will seek confirmation, from credit reference agencies, that the residential address that you provide is the same as that shown on the restricted register of directors' usual addresses at Companies House.

c) Search at fraud prevention agencies for information on your business, you, your business partners, beneficial owners and your address(es).

2. What our lenders do with the information we supply to them as part of the application:

a) If you give us false or inaccurate information and they suspect or identify fraud, they will record this and may also pass this information to fraud prevention agencies and other organisations involved in crime and fraud prevention.

b) Record information at credit reference agencies about your application, your business, you and your businesses partners.

c) If you provide information about shareholders they will record this information at credit reference agencies

3. With the information that our lenders obtain they will:

a) Assess your application for credit and/or;

b) Check details on applications for credit and credit related or other facilities;

c) Verify your identity and the identity of, other directors/ business partners and shareholders;

d) Undertake checks for the prevention and detection of crime or fraud and/or money laundering;

e) Manage your personal and/or business account (if you have one) with them;

f) Undertake periodic statistical analysis or testing to ensure the accuracy of existing and future products and services;

g) Any or all of these processes may be automated.

4. What our lenders do when you have an account:

a) Where you borrow or may borrow from them, they will give details of your business account, including names and parties to the account, and how you manage it to credit reference agencies.

b) If you borrow and do not repay in full and on time, they will tell credit reference agencies.

c) They may make periodic searches of their own group records and credit reference agencies to manage your account with them, including whether to continue or extend existing credit. They may also check at fraud prevention agencies to prevent or detect fraud.

d) If you have borrowed from them and do not make payments that you owe them, they will trace your whereabouts and recover payment.

How to find out more

For information about your personal data you can contact the lenders where we have passed information; the information they hold may not be the same so it is worth contacting them. They will charge you a small statutory fee. To obtain the names of the lenders, you should write to the Data Manager, Oracle Asset Finance Limited, Oracle House, Whitfield Business Park, Manse Lane, Knaresborough HG5 8BS

If you are not authorised to give agreement on behalf of your business partners' for such checks to be carried out they will also need to give their agreement to proceed.

2 A small business is defined as an organisation which might be sole trader, partnership or a limited company that has three or less partners or directors.