Last updated on Feb. 11, 2020
STATEMENT OF POLICY
This document affects your rights, obligations, liabilities, and remedies as a Data Subject under Republic Act No. 10173, otherwise known as the Philippines Data Protection Act of 2012 (“DPA”).
and First Circle Account Terms and Conditions
shall have the same meanings here.
The words “your data” or “your information” as used here pertains to your personal, sensitive personal, and/or privileged information and documents (as such are defined in the DPA) in relation to your Account or a financing application with First Circle.
WHO WE COLLECT DATA FROM
HOW WE COLLECT DATA
- Our Website,
- Our Platform, and
- Through offline and online communications with you (e.g. electronic mail, personal hand-delivery, delivery by courier service, messaging applications, survey and feedback forms, phone call, video chat or other means)
We collect the data:
- Directly from you, your Trading Partner and/or Verifying Party.
- Automatically through third-party applications as you use, navigate in, interact with our Website and Platform.
- On an ad-hoc basis from our Service Providers.
Please exercise reasonable caution before providing information or documents to any person or entity claiming to be authorised by or associated with First Circle.
We will never ask for your Account username and password or for financial or personal information not related to your specific financing transaction with us. In case of doubt, please contact firstname.lastname@example.org
or check our application requirements page
WHAT DATA WE COLLECT
We use a variety of data types and sources to know our Users more. The information we (and our Service Providers) collect includes, but is not limited to:
HOW WE PROCESS YOUR DATA
- Your full name
- Your government-issued personal identification numbers
- Your contact information (e.g. email, mobile phone number, landline number, residential and office address)
- Any information that, if linked to other information about you, may personally identify you (e.g. your civil status, geographical location, photos, social media handles, professional qualifications or affiliations, etc.)
- Your Company’s corporate registration documents (issued by the Securities and Exchange Commission, Department of Trade and Industry, Bureau of Internal Revenue, and the appropriate local government unit)
- Your transaction documents and business history with your Trading Partner
- Other information as we may need from time to time, which will be collected with your express consent in order to proceed with your financing application
The data we collect primarily helps us verify your identity and know more about your financing needs, so that we can offer the most suitable financing option to you.
The following activities (among others) illustrate the lawful purposes for which we process your data:
WHO HAS ACCESS TO THE DATA WE COLLECT
- Verify your personal identity and your authority to act on behalf of your Company, in compliance with know-your-customer (KYC) and anti-money laundering (AMLA) regulations
- Review and decide on your financing application
- Improve customer service and engagement
- Refine our credit policy, operational processes, data analytics, and market research
- Comply with our contractual obligations with third parties
- Protect your Account
- Secure additional funding from investors, lenders, shareholders, or buyers
- Comply with mandatory regulatory disclosures and legal processes
- Store your data in accordance with current data retention laws
- Develop new products and services that may be of interest to you
- Carry out our rights and obligations
- Enforce our legal remedies
- Any other purpose as advised to you, as allowed by law, as may be necessary under contractual agreements, or with your express consent
Your information may be shared across different entities comprising the First Circle group as may be required by the exigencies of business.
Whenever necessary, we also may need to share your information with our Service Providers, relevant government agencies, or potential and present investors, lenders, buyers or shareholders of the business of First Circle.
We reserve the right to use aggregated information from or about our Users, for any purpose and in perpetuity, as long as no individual is directly identified.
WAIVERS AND CONSENTS
To enable us to serve you better, we may need you to execute a limited waiver of your rights (which may also be contained in your specific definitive agreement with us) under the following laws and their respective implementing rules and regulations:
- Republic Act No. 9510 or the Credit Information Systems Act
- Republic Act No. 1405 or the Bank Secrecy Law
- Republic Act No. 6426 or the Foreign Currency Deposit Act
- Republic Act No. 10173 or the Data Privacy Act
This waiver will terminate immediately upon the conclusion of our business relationship with you, unless otherwise provided by law or unless you have any outstanding obligation to First Circle.
You shall indemnify, defend, and hold First Circle and its Related Parties free and harmless against any and all liability, proceeding, inquiry, loss, risk, cost, tax, charge, penalty or damages in connection with your disclosure of information to First Circle, its Representatives, Service Providers, government agencies, and any other party, or in connection with First Circle’s lawful processing of your information.
HOW WE PROTECT YOUR DATA
We implement reasonable and appropriate organizational, technical, and physical measures to protect your data. Any disclosure we make shall be done so on a strictly need-to-know basis only.
We can provide you confirmation on whether and what information about you we process, upon your written request. Please note that data review and reproduction may have associated costs that will be for your sole account.
For queries or concerns on data privacy, please send us an email at email@example.com