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Privacy Policy

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Important Information

  • By signing this document you consent to us (Credeq Australia Pty Ltd ABN 39 625 083 810 and HDI Global Specialty SE HRB211924 (the Underwriter)) and some other entities collecting, using, holding and disclosing personal and credit information about you. You can find out more about how we deal with your privacy or gain access to the personal information that we hold about you, by viewing our Privacy Policy. If you do not provide us with this consent or provide us with your personal information we may not be able to issue you with a Deposit Bond or provide other services.
  • You must answer all questions truthfully. Ambiguous or incomplete answers may jeopardise the approval of your Application. We may ask you for further information relating to this Application
  • The Underwriter provides the benefit payable under the Deposit Bond. Any agent arranging a Deposit Bond on behalf of the Underwriter may receive a commission.
  • You must read and understand the terms printed on the Deposit Bond as soon as it is issued. If you are not satisfied with the wording of the Deposit Bond (“Deposit Bond Wording”) you must notify Deposit Power immediately by email so that the bond can be cancelled. If you do not notify us you will be deemed to have accepted the Deposit Bond Wording.
  • Regardless of whether the fee for the Deposit Bond is paid by another party, all liabilities under the Deposit Bond remain against you directly including but not limited to any rights of recovery for the Deposit Bond amount and/or rights to register a Caveat against any property held by you.
  • If the Vendor’s details are not included on the front page of the Deposit Bond, the Vendor’s details are required to be registered with the Authorised Manager within 7 days of the exchange of the Contract of Sale.
  • We recommend you seek your own independent legal advice regarding this Application.
  • We recommend that you show the Application (including the Counter Indemnity), and the Deposit Bond Wording to your legal representative.
  • You, the Applicant(s) authorise us to obtain from any credit provider, and you authorise that credit provider to disclose to us any report or information in its possession or control for the purpose of assessing your application for the Deposit Bond.
  • The Deposit Bond is a surety bond under and for the purposes of the laws of New Zealand.
  • The minimum fee payable for a short term Deposit Bond is $1000.00.
  • The minimum fee payable for a long term Deposit Bond is $1200.00.

Privacy Consent

We may collect, use, hold and disclose personal and credit information about you for the purposes of arranging or providing our Bond products to you, managing and administering that Deposit Bond, investigating or managing any claim in relation to the Bond, direct marketing of products and services by us and managing our relationship with you.
Credit information includes the type and amount of credit provided to you, default information (including overdue payments) and court information. Personal information includes any information from which your identity is apparent or any information about an identifiable individual.
Our Privacy Policy contains information about how you may access or seek correction of your personal information and credit information, how we manage that information and our complaints process. It also contains information on ‘notifiable matters’ including things such as the information we use to assess your creditworthiness, what happens if you fail to meet your credit obligations or commit a serious credit infringement, your right to request that credit reporting bodies (CRBs) not use your credit information for the purposes of pre-screening credit offers, and your right to request a CRB not to use or disclose credit information about you if you believe you are a victim of fraud.
We will comply with the requirements of the Privacy Act 2020 for safeguarding your personal information. Where the personal information may be readily retrieved, you shall have access to it and the right to request correction.

Consumer and commercial credit information

We may exchange your consumer and commercial credit information with entities listed below to assess an application for consumer or commercial credit and manage that credit. In particular, we can obtain credit information about you from a CRB providing both consumer and commercial credit information.

Exchange of information with credit providers

We may exchange your personal and credit information with credit providers for the purposes of assessing your creditworthiness, credit standing, and credit history or credit capacity.

Exchange of information with guarantors

We may exchange your personal and credit information with any person who proposes to guarantee or has guaranteed payment of any debt owed to us by you for any products we have provided to you.

Exchange of information

We may exchange personal and credit information with the following types of entities, some of which may be located overseas.
  • Finance brokers, mortgage managers, and persons who assist us to provide our products to you
  • Financial consultants, accountants, lawyers and advisers
  • Any industry body, tribunal, court or otherwise in connection with any complaint regarding the approval or management of any Deposit Bond or any financial product or loan – for example if a complaint is lodged about us or any other person
  • Loss assessors, claims investigators, [reinsurers or other insurance companies
  • Any person where we are required by law to do so
  • Any of our associates, related entities or contractors
  • Your referees, such as your employer, to verify information you have provided
  • Any person considering acquiring an interest in our business or assets
  • Any organisation or Ministry (including the Ministry of Justice) providing online verification of your identity or for the purposes of verifying any personal information or credit information.

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Applicant/Director/Trustee identification

We may exchange personal and credit information about you to an organisation providing verification of your identity, including online verification of your identity.
We may exchange your personal and credit information with the following
credit reporting bodies:
[Equifax – equifax.co.nz
Dun & Bradstreet (Australia) Pty Ltd – illion.com.au
Experian – experian.com.au.

Other persons

If you have disclosed personal information about any other person, you confirm that you are authorised to:
  • Disclose to us personal information about that person and to consent to its use for the purposes shown in the Privacy Consent detailed above, and
  • Consent to the Authorised Manager disclosing to and obtaining from other parties, including those shown in this Privacy Consent, personal information about that person, for any of these purposes

Holding of personal and credit information

You have the right to know the agencies that may hold your personal information and a right to correct it if it is wrong. Generally, we hold your personal information in [New Zealand or Australia]. It may be held on our behalf by service providers (including cloud-based storage providers in [New Zealand] and overseas). The addresses of agencies that may hold your personal information are:

Electronic Communications

You consent to us communicating with you electronically with respect to this Application (including the Counter Indemnity and any guarantee and indemnity).
You also consent to us sending you marketing material (including targeted marketing) and/or messages electronically or otherwise. You acknowledge and consent to any telephone calls to and from us being recorded and held for the purposes or any matter contemplated by this document.

Refund Policy

A fee refund will only be paid if the request is made, by email or in writing, within 30 days from the date of issue of the Deposit Bond. To qualify, the refund request must be supported by an explanation as to why the refund has been requested. Deposit Power may choose to confirm that the bond has not been used to support a property purchase. Under these conditions, a full refund of the fee, less an administration fee of $290.00 for Deposit Bonds issued for less than 6 months and $700.00 for longer term Deposit Bonds, will be paid within 7 business days of receiving the properly supported request.
Where the Deposit Bond has been re-issued, subject to reassessment at an additional cost, the purchaser forfeits the right to a refund.
Where the Vendor and Purchaser mutually agree to rescind the contract for purchase, and on the provision of satisfactory evidence being supplied of such rescission (a letter from the Vendor’s or Applicant’s legal representative), a pro-rata rebate of the Deposit Bond fee will be provided, calculated by reference to the number of days from the date of rescission to the date of expiry of the Deposit Bond, less an administration fee.

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3.4.Credit reference agencies
3.5.Websites or software applications for use on computers or mobile devices and/or social media content, tools and applications
3.6.Anti-fraud databases, sanctions lists, court judgments and other databases
3.7.Government agencies
3.8.Any open electoral register; or
3.9.In the event of a claim, third parties including the other party or parties to the claim, witnesses, experts, loss adjusters, solicitors, claims handlers, translators, surveillance agents, engineers and others.

4.What personal information we disclose to others
We do not disclose any of our customers’ or other persons’ nonpublic personal information to anyone, except as permitted or required by law. Permitted disclosures include information to process transactions on your behalf, and information about you or about participants, beneficiaries or claimants under your insurance policy in the normal course of business.
5. Identities of Data Controllers and Data Protection Contacts
The operation of the insurance market means that personal data may be shared between insurance brokers, insurers, reinsurers and other market participants. You can find out the identity of the controller or controllers of your personal data in the following ways:

5.1.If you took out the insurance yourself, get in touch with the data protection contact at your insurance broker or the entity you dealt with in taking out the insurance.
5.2.If your employer or another organisation took out the insurance for your benefit, you should get in touch with the data protection contact at your employer or the organisation that took out the insurance.
5.3.If you are not a policyholder or an insured under the insurance, you should get in touch with the organisation that collected your personal data.

6.The purposes, categories, legal grounds and recipients of our processing your personal data

6.1.Your personal data may be processed for the following purposes:
6.1.1.Quotation/inception:
• Setting you up as a client, including possible fraud, sanctions, credit and anti-money laundering checks
• In order to be able to use your information when concluding the Commercial Bond or to check the information given by you. And in order to be able to check and, if necessary, supplement your details when an insured event occurs, personal data may be exchanged to the extent necessary for this purpose with the previous insurer named by you in the application.
• Evaluating the risks and matching them to appropriate policy terms/premium
• Payment of premium where the insured is an individual
6.1.2.Policy administration
• Client care, including communicating with you and sending you updates
• Payments to and from individuals
6.1.3.Claims processing:
• Managing insurance and reinsurance claims
• Defending or prosecuting legal claims or regulatory
proceedings

Investigating or prosecuting fraud
6.1.4.Renewals
• Contacting you/the insured to renew the insurance
• Evaluating the risks and matching them to appropriate policy terms/premium
• Payment of premium where the insured is an individual
6.1.5. Other purposes including:
• Complying with our regulatory or legal obligations
• Risk modelling
• Effecting re Commercial Bonds
• Transferring books of business, company sales, restructuring and reorganisation.
6.2.We may also disclose personal data to the following nonexhaustive list of entities: reinsurers, financial institutions, service providers, contractors, agents, tax authorities, law enforcement
and other regulators and group companies in connection with the above purposes. You will find the current list of service providers and our companies who participate in data-processing operations here on our website:
https://www.hdi.global/globalassets/_shared/_global/legals/hgs_ov
erview_service_providers-_220914.pdf or by emailing .
6.3.We process your data on one of the following legal grounds:
6.3.1.in order to place and operate the contract(s) of insurance;
6.3.2.where a legitimate interest to do so has been identified for which processing of your data is necessary and which balances your interest, rights and freedoms e.g. protecting you from fraud or personalising the insurance product to you; or
6.3.3.where we have a legal obligation to do so e.g. to prevent money laundering.

7.Consent
To provide insurance and deal with insurance claims in certain circumstances we may need to process special categories of your personal data (see 2.8 above), such as medical or criminal records. Your consent to this processing may be necessary to achieve one or more of the purposes set out above.
Where this is the case, you may withdraw your consent to such processing at any time by notifying
. If you do withdraw your consent, however, this may mean we cannot provide insurance or pay claims.
8. Profiling
When calculating insurance premiums, we may compare your personal data against other data such as industry averages or fraud patterns. Your personal data may also be used to create such other data to ensure, among other things, that premiums align to risk.
We may make decisions based on profiling and without staff intervention (known as automatic decision making). For instance, we may do this to: decide whether to offer you an insurance product, determine the price we will offer the product at and what terms and conditions to apply for that product.

Please read carefully

As part of the automated process we may use your personal data to conduct a credit reference check at one or more of Germany’s credit reference agencies. These checks would be carried out to prevent fraud and calculate insurance premiums. This is a soft search which means it is only visible to you (if you request a copy of your credit file at the credit reference agencies) and is not visible to other organisations. The search will be visible on your credit report but it won’t affect your credit rating as it’s not an application for credit.
The legal basis we use to carry out automated processing is that it is necessary for the purposes of entering into, or performance of your insurance policy.
If you believe the automated process has resulted in an outcome that you did not expect please explain to a member of staff who will review the circumstances. You can contact us via email at to explain the circumstances.
9. Storage and retention of your personal data
Information is held by us on servers and in printed form, as well as on our behalf in off-site storage facilities. We will keep your personal information only for so long as is necessary and for the purpose for which it was originally collected. In particular, so long as there is any possibility that either you or we may bring or face legal claims in connection with the insurance contract(s), or if there are legal or regulatory reasons to retain your personal information, we must do so.
We understand the importance of securing your personal information. We have physical, electronic and procedural safeguards in place to protect your non-public personal information in compliance with applicable state federal laws. We restrict employee access to customer information only to those who have business reason to know, in order to provide our products and services to you.
10.International transfer of data
We may need to transfer your data to third parties outside the European Economic Area (third country transfer) by the abovementioned named Data Controller.
The processing will always be carried out in compliance with the contractual restrictions regarding confidentiality and security as well as in accordance with the applicable laws and regulations on data protection. Such data transfer to bodies or states outside the European Union/EEA, in particular by way of administrative access, is possible on the basis of the aforementioned purposes and legal grounds.
In these cases, data will only be transferred if suitable safeguards are in place in accordance with the General Data Protection Regulation (GDPR). Suitable guarantees are, in particular, an existing adequacy decision of the EU Commission, EU standard contractual clauses agreed with the service providers or binding data protection regulations established by the company, which have been recognized by the data protection supervisory authorities. In the event of a data transfer on the basis of Art. 49 DSGVO, separate information will be provided on this.
If you would like further details of how your personal data would be protected if transferred outside the EEA, please contact .
11.Amendment
We may amend this Privacy Notice from time to time. The most recent version can always be consulted on our website: https://www.hdi.global/legal/privacy/.
12.Your rights
If you have any questions about our use of your personal data, please contact the relevant data protection contact as explained above. In certain circumstances you may have the right to require us to:

12.1. Provide you with further details about the use we make of your personal data
12.2. Provide you with a copy of the personal data we hold
12.3.Correct any inaccuracies in the personal data we hold
12.4. Delete any personal data we no longer have any lawful ground to use
12.5. Where the processing requires your consent, to withdraw that consent so we stop the processing in question
12.6. Transfer your personal data to another organisation
12.7. Object to any processing based on the legitimate interests
ground at 5.3.2 above unless our reasons for that processing outweigh any prejudice to your data protection rights
12.8. Object to automated processing, including profiling
12.9. Restrict how we process or use your personal data in certain circumstances e.g. whilst a complaint is being investigated. In certain circumstances we may need to restrict the above rights to safeguard the public interest (e.g. prevention or detection of crime) or our interests (e.g. legal or litigation privilege). Right of objection
You have the right to object to the processing of your personal data for direct marketing purposes.
If we process your data for the protection of legitimate interests, you may object to this processing if your particular situation gives
rise to reasons which speak against the data processing.

If you are not satisfied with our use of your personal data or our response to any request by you to exercise any of your rights, or if you think we have breached the GDPR, you have the option of submitting a complaint to the above-mentioned Data Protection Officer or to a data protection supervisory authority at the relevant
national authority.
Germany (Lead Supervisory Authority)
Die Landesbeauftragte für den Datenschutz Niedersachsen
Prinzenstraße 5
30159 Hannover
Phone: +49 (0511) 120 4500
Fax: +49 (0511) 120 45 99
E-mail:
Website: https://www.lfd.niedersachsen.de

13.Contact Us
Head Office: Data Protection Officer, HDI-Platz 1, 30659
Hannover, Germany, Tel. +49 511 3878 1900,

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DepositSmart is the exclusive referrer in New Zealand to Credeq Australia Pty Ltd. Deposit Power bonds are underwritten by HDI Global Specialty SE (AA– rated by Standard & Poor’s). Deposit bonds are not loans and are subject to eligibility assessment. Information provided is general in nature and does not constitute financial advice.
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