This Credit Reporting Policy describes how Stramit Corporation Pty Ltd (Stramit Corporation Pty Ltd, we, us or our) will manage your credit information and your credit related personal information (which means credit information, credit reporting information, credit eligibility information and/or regulated information) including the collection, holding, use and disclosure of such information. Our handling of your credit information is in compliance with our obligations under the Privacy Act 1988 (as amended by the Privacy Amendment (Enhancing Privacy Protection) Act 2012) (Act) and the Privacy (Credit Reporting) Code (Code).
This document is intended to enhance the transparency of our operations, notify you of your rights and our obligations and provide information regarding:
We may collect, use, hold and disclose credit information about you. You consent to such collection, holding, use and disclosure of your credit information in accordance with the terms of this policy.
The terms "credit information", "credit eligibility information", "credit reporting information" and "personal information", as used in this policy, are as defined in the Act.
If you apply for commercial credit or provide a guarantee for commercial credit, the kinds of credit information and credit eligibility information that we may collect and hold about you includes information used to identify you, your creditworthiness and any other related information necessary or incidental to the products and services which we provide or propose to provide to you. This may include:
Credit information applies to both consumer credit and commercial credit.
Our usual practice will be to collect credit information from you (or your authorised representative) directly and with your written consent.
Sometimes, we may gather credit information and credit eligibility information about you from a third party, such as the kinds of information listed above, for example, from CRBs or intermediaries and spouses or from publicly available information. Such information may be derived by a CRB from credit information held by the CRB about you.
If you fail to meet payment obligations or commit serious credit infringement we may disclose your Credit Information to a CRB.
We will endeavour to obtain your written consent regarding the collection and further disclosure of credit information from and to a CRB.
We will attempt to use the Credit Information we collect and hold for the primary purpose(s) in respect of which it is collected.
We may collect, hold, use and disclose your credit information as reasonably necessary so that it may be used directly for our functions or activities and as permitted by law. We may not be able to provide you with credit in respect of the products or services you require if you do not provide all of the information requested or do not consent to how your credit information and credit eligibility information is managed in accordance with this policy.
We will hold your credit information and credit eligibility information in a manner which is secure and protected from unauthorised access. Your information may be held in either a physical form or in electronic form on our IT system. We take steps to protect your credit information and credit eligibility information against modification, disclosure or misuse by using tools such as password protection for accessing electronic IT systems and physical restrictions.
Among other techniques, we usually:
We will also take steps to ensure our service providers have protection for electronic IT systems and other necessary restrictions.
We will endeavour to ensure that our relevant staff are trained with respect the security of your credit information and credit eligibility information we hold and we will restrict any access where necessary.
Once information is no longer required, we will take all reasonable steps to either destroy and de-identify your credit information and credit eligibility information in a secure manner and where possible destroy and delete records.
In the event we hold credit information and credit eligibility information that is unsolicited and we were not permitted to collect it and we cannot obtain your consent to the collection of it, the information will be destroyed as soon as practicable.
We will collect, hold, use and disclose credit information and credit eligibility information about you to:
We will also collect, hold, use and disclose credit information and credit eligibility information about you to comply with Australian legislation, including the Corporations Act 2001, Proceeds of Crime Act 1987 and Anti-Money Laundering and Counter Terrorism Financing Act 2006 and any amendments to these acts.
We may disclose your credit information and credit eligibility information to any of the following third parties:
We only disclose your credit information and credit eligibility information as permitted by the Act and the Code.
We may disclose your credit information and credit eligibility information to entities outside of Australia. We use service providers located outside of Australia to perform functions on our behalf.
The entities we may share your credit-related information with may be located in, or have personnel that access your information from, the following jurisdictions: New Zealand.
We only disclose your information to entities outside of Australia for our business functions or for the purposes of providing services to you.
Where we do so, we ensure that the disclosure of and access to that information is secure and appropriate controls are in place, and we take reasonable steps to ensure that any overseas recipients of your information handle it in a manner consistent with the Privacy Act.
CRBs are permitted under the Act and the Code to use and disclose your credit information. If you apply for commercial credit or offer to act as a guarantor, we may disclose your credit information to, or collect credit information about you from, a CRB. This information is used for the purpose of determining your eligibility for credit, and we may process the information to assess your creditworthiness and suitability for credit. As indicated above, we may also disclose credit information to a CRB in instances where you fail to meet your payment requirements and you commit a serious credit infringement.
The CRB we deal with are as follows. You can contact them using the details below:
Level 15, 100 Arthur Street
NORTH SYDNEY NSW 2060
Tel: 1300 921 621
Level 13, 109 Pitt Street
SYDNEY NSW 2000
Tel: 1300 501 312
Level 2, 165 Grenfell St
ADELAIDE SA 5000
Tel: 1800 882 820
Level 2, 143 Coronation Drive
MILTON QLD 4064
Tel: (07) 3360 0600
Level 6, 549 St Kilda Road
MELBOURNE VIC 3004
Tel: (03) 9699 0100
You may obtain a copy of these CRB’s policy about their management of credit-related information by contacting them directly, on the number above.
You have a right to request that a CRB not use or disclose your credit-related information if you believe, on reasonable grounds, that you have been or are likely to be a victim of fraud.
CRBs offer a service to credit providers wishing to send direct marketing material about credit services to individuals. This is called "credit pre-screening". You have the right to request CRBs do not use your credit information for this purpose. To opt out of credit pre-screening, contact the CRB, using the contact details provided above.
You may request access to the credit information and credit eligibility information that we hold about you. We may be able to provide you with access to this information in a manner that you request if this is reasonable and practicable.
You may request us to correct the credit information and credit eligibility information held in relation to you if you believe that it is inaccurate, out of date, incomplete, irrelevant or misleading. With any request that is made we will need to authenticate your identity to ensure the correct person is requesting the information.
You may make an access or correction request at any time by contacting our Australian Privacy Officer on +61 (0)7 3260 9777 or sending an email to FBPrivacyAU@fbu.com.
We will endeavour to respond to your request within a reasonable time period and as soon as practicable in a manner as requested by you. We will normally respond within 30 days.
We will not charge you for making an access request.
If we do not agree to provide access or make the requested changes to your credit information and credit eligibility information, we will notify you of this in writing, providing our reasons for the refusal.
If you are not satisfied with our response to your access or correction request, you can make a complaint to the to the Office of the Australian Information Commissioner. For contact details, please see www.oaic.gov.au. Please see our Complaints section below for information on making a complaint.
To ensure that you have access to the most up to date credit information about you, you should also request access to credit reporting information about you held by the CRBs listed above.
You have the right to make a complaint if you believe that we have not complied with our obligations under the Act and the Code. Should you have a complaint, we encourage you to inform us so that we can have the opportunity to remedy the issue and find a solution. You can do this by contacting us in writing using the contact details listed below.
If you make a complaint, we will:
If we consider that it is necessary to consult a credit reporting body or another credit provider about the complaint, we will do so.
After investigating your complaint, we will make a decision about the complaint and give you a written notice that:
If you are not satisfied with the handling of your complaint, you may complain to the OAIC.
We may, at our discretion, change our approach to the handling of credit information and will, in such instances, update the Credit Reporting Policy to reflect these changes. The most up-to-date copy of the Credit Reporting Policy will be available our website www.stramit.com.au/credit-reporting-policy.
This page is effective and up to date as at 15th August 2022.