Privacy Disclosure Statement & Consent

Overview

Colossal Finance Pty Ltd (ABN 52 623 073 432) (“Colossal”, “we”, “us”, “our”) is a Corporate Credit Representative (CRN #556118) of Quantum Business Finance Pty Ltd (“Quantum” / “QBF”), ACN 135 253 191, holder of Australian Credit Licence (ACL) No. 395230, of Level 2, 493 St Kilda Road, Melbourne, VIC 3004.

Colossal collects information about you for the purposes you agree to in this Privacy Disclosure Statement and Consent. When you engage us, you agree we can, consistently with Australia’s privacy and credit reporting laws, collect, use, and exchange consumer and/or commercial credit and personal information (“information”) about you for those purposes.

Why we collect your information

We are collecting information about you, as applicable:

• To source for you, or a company of which you are a director:
  • Consumer credit for personal, household, domestic or residential investment purposes;
  • Commercial credit for business purposes; or
  • Other services stated in this Consent; or
• To support a guarantor application you will provide.

As your broker, we require the information we collect from you to assess your credit or guarantor application, or the credit application of a company of which you are a director, source a suitable credit provider and any required insurances, and to manage the application process. If you do not provide the information sought, we may be unable to process your application, or the company’s application, or we may be limited in the other services we can offer you.

Your information — collection and disclosure

When we collect information from you about the credit or guarantor application process, we use that information to assess your application and, where appropriate, to source a suitable credit provider or lessor and/or insurance provider. We may, as appropriate:

• Disclose your identification information to a consumer credit reporting service (Consumer CRS) and/or a commercial credit reporting service (Commercial CRS), if you wish us to obtain a report on your behalf;
• Use any information a credit reporting service provides in its report to assist us to preliminarily assess your credit or guarantor application;
• Disclose your information to an insurer or insurers to source any insurance you wish to obtain; and
• Disclose your information to a credit provider or credit providers to apply for finance on your behalf.

The information we obtain from you is used, subject to compliance with Australia’s privacy and credit reporting laws, only for the purposes listed in this Consent and is not disclosed to any other person except with your permission or as permitted, or required, by law.

Credit providers

As part of providing our services to you, we may undertake tasks for a credit provider which are reasonably necessary to manage the application process. When doing so, we are acting as agents for the credit provider, with the same privacy law requirements applying to both of us.

We may submit your application to one or more credit providers. A credit provider to whom we apply may disclose information about you to, and collect information about you from, one or more Consumer CRS or Commercial CRS.

The website of each credit provider contains details of each Consumer CRS and Commercial CRS with which it deals and other details about information held about you, including whether that information may be held or disclosed overseas and, if so, in which countries. The websites also describe your key rights. These details may be described as ‘notifiable matters’, ‘privacy policy’, ‘credit reporting policy’ or ‘privacy disclosure statement and consent’, or similar.

For each Consumer CRS a credit provider uses, the website details will include:

• That the CRS may include information the credit provider discloses about you to other credit providers to assess your credit worthiness;
• That, if you become overdue in making consumer credit payments or you commit a serious credit infringement, the credit provider may disclose that information to the service;
• How you can obtain the credit provider’s and/or the service’s policies about managing your information;
• Your right to access and/or correct information held about you and to complain about conduct that may breach the privacy and credit reporting laws;
• Your right to request a CRS not to undertake pre-screening for purposes of direct marketing by a credit provider;
• Your right to request a CRS not to release information about you if you believe you are a victim of fraud.

Your rights

You have the right to ask:

• Us to provide you with all the information we hold about you;
• Us to correct the information we hold if it is incorrect;
• Us for copies of our privacy policy and this document, in a form that suits you (e.g. hardcopy or email);
• A Consumer CRS not to use your information for direct marketing assessment purposes, including pre-screening;
• A credit reporting service to provide you with a copy of any information it holds about you.

You can gain access to the information we hold about you by contacting Colossal Finance at info@colossalfinance.au or on (03) 9969 0069. For matters relating to credit reporting privacy under our licensing arrangement with Quantum Business Finance, you may also contact Quantum’s Privacy Officer on (03) 9006 1111 or admin@quantumbusiness.com.au. In some cases, an administration fee may be charged to cover the cost of providing the information. Quantum’s Privacy Policy is available at quantumbusiness.com.au or we will provide you with a copy if you ask us. Schedule 1 below sets out the contact details for each credit reporting service.

Disclosure and consent

By engaging us, you agree we may:

• Use your information to assess your consumer or commercial credit and/or guarantee application and/or to assess a credit application by a company of which you are a director; to source any finance you require; to source any insurances you require; and as the law authorises or requires;
• Disclose to, and obtain from, any prospective credit provider or insurer, information about you that is reasonably necessary to obtain the finance and insurance you require;
• Obtain from, and disclose to, any third party, information about you, the applicant(s) or guarantor(s) that is reasonably necessary to assist you obtain the finance and insurance required;
• Provide your information, including your credit report(s), to one or more credit providers so they can assess your application, the application of a company of which you are a director, or your suitability as a guarantor;
• Provide information about you to a guarantor, or prospective guarantor;
• Provide you, or the company of which you are a director, with offers or information about other goods or services we, or any of our associated entities, may be able to provide, unless you tell us not to;
• Disclose your information to the extent permitted by law to other organisations that provide us with services, such as contractors, agents, printers, mail houses, lawyers, document custodians, securitisers and computer systems consultants or providers. This includes service providers and lenders who may have representation overseas — it is likely to include Germany, the United Kingdom, New Zealand, the Philippines, Vietnam, India, Singapore, Japan and the United States of America; and
• Disclose your information to any other organisation that may wish to acquire, or has acquired, an interest in our business or any rights under your contract with us.

You also agree and consent to, as appropriate:

• A Consumer CRS disclosing information to one or more credit providers for the purpose of assessing your application for consumer or commercial credit or your guarantor application;
• When you are a prospective guarantor, a credit provider using that information to assess your suitability as a guarantor;
• A credit provider disclosing your information (including information obtained by it from a Consumer CRS) to a guarantor, or a prospective guarantor;
• A credit provider disclosing to another credit provider, to your agent (such as us, as your broker), or to a servicer, for a particular purpose, information it holds about you;
• A credit provider confirming your identification details via a third-party system to check those details with a document issuer or official record holder, including the Document Verification Service.

Extended effectiveness for commercial credit

Your agreement and consent to the disclosures and consents in this document will be effective for a period of 12 months, but only in relation to commercial credit. Your agreement ceases when you either withdraw it by contacting us using our details above, or 12 months after you sign, whichever first occurs. This allows us to continue to provide our services without the need to ask you to sign a new privacy statement and consent each time you require commercial credit within a 12-month period. The extended effectiveness does not apply in relation to consumer credit.

Where the applicant, or guarantor, is the company of which you are a director, you consent to the disclosure and use of your information, in addition to the company’s information, in each of the ways specified in this document.

Amounts and benefits we receive

Commercial finance

A financier may make payments to us for business introduced to the financier and/or the volume of transactions we introduce, and/or the extent to which finance arrangements we introduce remain up to date in payments.

Consumer finance

Consumer credit law has specific requirements for disclosure of commissions and like payments. We will set out the required details in the transaction disclosure documents we must give you. In addition, the financier (credit provider) will include details in your loan contract.

Other brokers

We may also receive payments from other brokers we have arrangements with for the introduction of clients to a financier.

Non-monetary benefits

Not all benefits we receive are necessarily monetary and may include training, tickets, trips, or similar benefits.

Amounts and benefits we pay

We may pay amounts to third parties who refer you to us. These third parties may include other businesses with whom you are, or have been, dealing, such as other brokers, referrers, and sellers of goods or services. For consumer finance, we will tell you about them in the transaction disclosure documents (Credit Proposal) the law requires us to give you.

South Australia & New South Wales customers

SA— For specific finance transactions we may arrange for you, we will tell you details of the amounts we receive or pay, or are likely to receive or pay, or if not known at the time, how these amounts are calculated and/or a reasonable estimate of the amounts, as well as who pays and receives these amounts.

NSW— Under the Fair Trading Act 1987 (NSW), section 47B, a finance broker must, before acting under an arrangement that allows the broker to receive a financial incentive, take reasonable steps to ensure the consumer being supplied the services to which the financial incentives relate is aware of the arrangement. Incentives may include those listed above.

Appointment to act & authorisation

When you appoint Colossal Finance Pty Ltd (Corporate Credit Representative #556118 of Quantum Business Finance Pty Ltd, ACL #395230) to act as your finance broker, you confirm that Colossal has been appointed to collect, collate, and prepare relevant documentation and forward it to potential lenders and/or financial intermediaries for the purpose of procuring suitable finance.

You authorise us to make a request on your behalf to obtain information about you from one or more credit reporting service(s) and credit provider(s). That information will assist us in providing our services to you.

Schedule 1 — Credit reporting services

Contact details for each credit reporting service:

• CreditorWatchcreditorwatch.com.au1300 501 312
• Dun & Bradstreetpac.austral@dnb.com.au1300 734 806
• Equifaxequifax.com.au138 332
• illionillion.com.au132 333

Contact us

Colossal Finance Pty Ltd
Level 2, 493 St Kilda Road (PO Box 7480), Melbourne VIC 3004
(03) 9969 0069 · info@colossalfinance.au

ABN 52 623 073 432 · Corporate Credit Representative (CRN) #556118 of Quantum Business Finance Pty Ltd, Australian Credit Licence (ACL) #395230 · AFCA #105018