Common use of Credit reference check Clause in Contracts

Credit reference check. (a) You acknowledge that we may perform credit checks on you. (b) If you are a natural person, you: (i) acknowledge that the Privacy Act allows us to give a Credit Reporting Body certain Personal Information about you. The information we disclose to a Credit Reporting Body includes: (A) permitted information which will allow you to be identified; (B) the fact that you have applied for credit and the amount for which you have applied; (C) the fact that we are a current credit provider to you; (D) repayments that are overdue and for which debt collection has started; and (E) information that in our opinion you have committed a serious credit infringement; (ii) agree to our obtaining from a Credit Reporting Body a credit report containing information about your personal credit worthiness for the purpose of assessing your application and for the purpose of assisting in collecting overdue payments; (iii) agree to our obtaining information about your commercial activities or commercial creditworthiness from any business which provides information about the commercial credit worthiness of persons, your accountant or any other supplier to you; (iv) agree to our giving and obtaining from any credit provider named in your Order Form or in a credit report on you issued by a Credit Reporting Body, information about your credit arrangements for the purposes of: (A) assessing your Order Form; (B) notifying a default by you; (C) allowing another credit provider to ascertain the status of your arrangements with us where you are in default with one or more other credit providers; and (D) generally assessing your credit worthiness; and (v) understand that the information exchanged can include any information about your personal and/or commercial credit worthiness, credit standing, credit history or credit capacity which the Privacy Act allows credit providers to give to or receive from each other.