Collection and Use of Information
The term “personal information” means information about an identifiable individual, including name, address, email address, signature, and other information relating to an individual. Bibby may collect personal information when you:
- Complete a loan application on behalf of a business;
- Act as a guarantor for a business loan;
- Enter into a loan agreement
- Sign-up to receive promotional communications;
- Contact us with a comment, question or complaint;
- Participate in surveys, customer research or contests;
- Apply for employment at Bibby; and
- Visit our website.
Application: In connection with an application for an asset based business loan or factoring application, we collect information about your business (i.e. accounts receivables, invoices, existing loans, judgments, liens, bankruptcies, etc.) as well as certain personal information of owners/officers of the business. For example, we collect the name, mailing address, date of birth, position, and ownership percentage of owners. We also collect driver’s licence number in order to verify the identity of the owner(s) and personal financial statements from guarantors (including information about personal liabilities, stocks and bonds, real estate and other property owned, life insurance, unpaid taxes). We use this information for the purposes of (i) assessing the potential of a commercial financing relationship; (ii) approving, administering, servicing and enforcing the loan or factoring transaction, if accepted; (ii) assessing the owner’s ability to repay the loan in the event of default; (iii) meeting legal and regulatory requirements; and (iv) detecting and preventing fraud and other unauthorized or illegal activities.
Social Insurance Number: You are not required to provide your social insurance number in order to apply for a loan or factoring transaction. However, if you choose to provide it, we use it to assist us in identifying you with credit reporting agencies in order to retrieve an accurate credit report.
Credit Reports and other Background Verification's: We may obtain consent from owners or officers to conduct a credit check, criminal record check, and other background verification in order to assess risk and meet regulatory obligations (such as know-your-client rules) at the time of application and during the course of our relationship with you. For example, we may collect credit-related information from consumer reporting agencies or credit bureaus. This may include information about the types and amounts of credit advanced to you, payment histories, negative banking items, collection actions, legal proceedings, previous bankruptcies and other information reported by creditors. We use this information to help us assess the potential of a commercial financial relationship with the business.
Asset Based Loan Agreement: If the business is approved for funding, we may collect additional information from owners and guarantors including proof of income (such as pay stubs or Notices of Assessment from your tax return), Canadian bank account number, and employment information such as occupation, current or former employer(s). We use this information in order to administer our relationship with you.
Online Reporting Service: If the business has subscribed to Bibby’s Online Reporting Services, we may collect information from the authorized users including the authorized users’ names and contact information as well as a password. We use this information to create and administer an online account, and ensure that only authorized users are able to access the reports.
Call Recording: We may monitor and record our telephone conversations with you for training and quality assurance purposes. You will be provided with a notice at the beginning of any call that is being recorded. If you do not wish to have your call recorded, please let us know.
Marketing and Promotional Communications: We may offer you the ability to sign-up to receive marketing and promotional communications. If you sign-up, we collect certain personal information (such as first and last name, email address or mobile phone number) which we use to send you email, SMS text messages and other communications about Bibby’s products and services that may be of interest to you. You can opt-out of receiving promotional email from us by following the opt-out or “unsubscribe” instructions provided in your email or text message, or by contacting us as set out below. Please note that you may continue to receive transactional and account-related electronic messages from us.
Customer Service: When you contact us with a comment, question, or complaint, you may be asked for information that identifies you (such as your name, business name, email address and telephone number) along with additional information we need to help us promptly answer your question or respond to your comment or complaint. We may also retain this information to assist you in the future and to improve our customer service and product and service offerings.
Surveys and Customer Research: From time to time, we may offer you the opportunity to participate in one of our surveys or other customer research. The information obtained through our surveys and customer research is used in an aggregated, non-personally identifiable form. We use this information to help us understand our customers, to enhance our product and service offerings, promotions and events.
Employment at Bibby: In connection with a job application or related inquiry regarding potential employment with Bibby, you may provide us with certain personal information about yourself (such as that contained in a resume, cover letter, or similar employment-related materials). We use this information for the purpose of processing and responding to your application for current and future career opportunities.
Disclosure of Information
We will not disclose, trade, rent, sell or otherwise transfer personal information, without consent, except as set out herein.
Lenders: We may share information with our lenders so that they may assess on-going risk.
Service Providers: Your Personal Information may be transferred (or otherwise made available) to our affiliates and other third parties who provide services on our behalf. For example, we may use service providers to host the Website, store and back-up data, operate certain of its features, send email, SMS text messages or other communications, or manage and analyze data and our advertising effectiveness. Service providers are given the information they need to perform their designated functions, and we do not authorize them to use or disclose personal information for their own marketing or other purposes. Personal information may be maintained and processed by Bibby, its Canadian, US, UK and other affiliates and third party service providers in the US, UK or other jurisdictions. For more information on our practices with respect to the use of foreign service providers, please contact us as set out below.
Legal and Compliance: We and our Canadian, US, UK and other service providers may provide your personal information in response to a search warrant or other legally valid inquiry or order, or to another organization for the purposes of investigating a breach of an agreement or contravention of law or detecting, suppressing or preventing fraud, or as otherwise required or permitted by applicable Canadian, US, UK or other law or legal process. Personal information may also be disclosed where necessary for the establishment, exercise or defence of legal claims and to investigate or prevent actual or suspected loss or harm to persons or property.
Sale of Business: Personal information may be provided to third parties in connection with a prospective or completed business transaction, including a merger or sale (including transfers made as part of insolvency or bankruptcy proceedings) involving all or part of Bibby or as part of a corporate reorganization, or stock or asset sale, or other change in corporate control, including for the purpose of determining whether to proceed or continue with such transaction or business relationship.
Safeguarding and Retention of Personal Information
We have implemented reasonable administrative, technical and physical measures in an effort to safeguard the personal information in our custody and control against theft, loss and unauthorized access, use, modification and disclosure, including limiting access to personal information on a need-to-know basis to employees and authorized service providers who require access to fulfill their job requirements.
We have personal information retention processes designed to retain personal information for no longer than necessary for the purposes stated above or to otherwise meet legal requirements.
Access to Personal Information
You have the right to access, update and correct inaccuracies in your personal information in our custody and control, subject to certain exceptions prescribed by law. You may request access, updating and corrections of inaccuracies in other personal information we have in our custody or control by emailing or writing to us at the contact information set out below. We may request certain personal information for the purposes of verifying the identity of the individual seeking access to their personal information records.
Cookies and Additional Information about our Websites
Visiting our Websites: In general, you can visit our Websites without telling us who you are or submitting any personal information. However, we collect the IP (Internet protocol) addresses of all visitors to our Websites and other related information such as page requests, browser type, operating system and average time spent on our Websites. We use this information to help us understand activity on our Websites and to monitor and improve our Websites.
Tracer Tags & Web Beacons: Our Websites may also use a technology called "tracer tags" or “Web Beacons”. This technology allows us to understand which pages you visit on our Websites. These tracer tags are used to help us optimize and tailor our Websites for you and other future visitors to our Websites.
Online Ads and Interest-Based Advertising
To learn more or to opt-out of having your information used by participating companies for online behavioral advertising purposes, please visit http://youradchoices.ca/choices.
Links to Third Party Websites
We may offer you the opportunity to engage with our content on or through third-party social networking websites, plug-ins and applications. When you engage with our content on or through third-party social networking websites, plug-ins and applications, you may allow us to have access to certain information associated with your social media account (e.g., name, username, email address, profile picture, gender) to deliver the content or as part of the operation of the website, plug-in or application. When you provide information from your social media account, we may use this information to personalize your experience on our Website and on the third-party social networking websites, plug-ins and applications, and to provide you with other products or services you may request.
Please contact our Privacy Officer if:
- you wish to access, update, and/or correct inaccuracies in your personal information, or
- you otherwise have a question or complaint about the manner in which we or our service providers treat your personal information.
You may contact our Privacy Officer by email at firstname.lastname@example.org or by mail at the following address:
Bibby Financial Services (Canada) Inc.
Mississauga Executive Centre
4 Robert Speck Parkway, Ste. 310
Mississauga, ON L4Z 1S1