INFORMATION ON DATA PROCESSING AND DATA PROTECTION
This information is intended for the individuals who are affected by the processing of personal information, hereinafter referred to as ‘Personal Data’ or ‘Data’, at Midt Factoring A/S. This information explains why Midt Factoring A/S needs to collect Data, how Data will be used and protected, how long this Data will be stored and which rights the individuals concerned have.
Data protection is essential to build up trusted business relations with our clients.
To this end, Midt Factoring A/S constantly monitors the compliance with legal requirements on Personal Data protection in order to ensure a responsible management of files/documents as well as more transparency on Data processing.
From which individuals and legal entities is Data collected?
Data is collected from clients/customers and their legal representatives, agents and appropriate contacts, if any, and employees.
We also collect Personal Data. This Data may relate to your personal life as well as your professional activities (e.g. name, date of birth, personal or professional contact details, marital status, photo, profession etc.).
For what purposes is your Data collected and processed?
In connection with business relations, factoring activity or debtor insurance, Midt Factoring A/S needs to collect and process certain Personal Data with a view to:
Provide the products or services, which are a part of a business cooperation
For Midt Factoring A/S the purpose is to execute a contract or to conclude a contract/agreement, i.e.:
In order to manage accounts and carry out transactions, to manage clients, to grant and manage limits/terms, guarantees and credit insurance contracts, it is required that we collect and process Data. Otherwise, it is not possible for Midt Factoring A/S to conclude or execute the contract.
Comply with our legal and regulatory obligations
In order to meet our obligations to be able to detect any fraud in connection with payment transactions, to have the possibility to trace the financial transactions by companies (registration of communication) and to have automatic exchange of information in connection with mandatory reporting to the tax authorities, Midt Factoring A/S needs to collect Data. If this requirement is not met, Midt Factoring A/S cannot continue the business relationship.
The legitimate interest of Midt Factoring A/S to carry out the processing
Midt Factoring A/S may invoke its ”legitimate interest” to process Data, in particular if situations occur which may pose a risk to the business of Midt Factoring A/S.
This is in order to protect against market abuse, to fight money laundering and financing of terrorism, to avoid fraud, to fight financial crime against Midt Factoring A/S and its clients and business partners, to guarantee safety of network and information, to control access to the premises, video surveillance, but also to manage the activities of the company (in particular general accounting, invoice administration, bank and foreign exchange business), customer relations, marketing, including combination of Data for analysis or anonymization, and finally for audit and inspection purposes.
In terms of credit limits, Midt Factoring A/S can assess the risks associated with credit applications based on an automated decision-making process, including human intervention, which results in a credit decision or a rejection. It is possible to comment on and challenge the final decision, when the process is completed.
Purposes subject to your consent
If Midt Factoring A/S plans Data processing, which requires collection of consent, the individual concerned will be contacted and asked to give consent to collection and processing of Data for specifically stated purposes.
Who has access to your Data?
Midt Factoring A/S takes all necessary measures to ensure the security of the collected Data, but also their confidentiality, which means that it is ensured that only authorized personnel has access to this.
Only persons, who are authorized by their activities in the relevant departments of Midt Factoring A/S in charge of the associated processing, have access to Data within the framework of their entitlements.
In the same way, our service providers or partners may have access to Data as required, and in a secure way handle this in the execution of their service or our partnership.
In accordance with existing laws and regulations, some authorities will also receive Data.
How long will Data be retained?
As soon as the data processing purpose has been achieved, and taking into account any obligation to store Data, Midt Factoring A/S will no longer retain the Data.
The retention period varies and depends on the nature of the Data and the purposes for which it is used.
What are the rights concerning Data?
Within the restrictions and terms in the General Data Protection Regulation, you can:
Be informed which Data is registered
Correct, update and delete Data for legitimate reasons
Object to the processing of Data for legitimate reasons, and in connection with inquiries without any reason
Request the transfer of your Data for processing based on consent or on the execution of a contract concluded or to be concluded
Request limited processing of the Data
Withdraw the consent at your convenience and if possible in consideration of the continued cooperation
File a complaint to a national supervisory authority
Midt Factoring A/S invokes the right to request payment for extensive tasks of extraordinary nature concerning Data.
How do you exercise your rights?
If you wish to exercise your rights, please contact our Data Protection Officer by e-mail or mail, stating your name, surname, contact details and providing copy of identification.
Nygade 111, 7430 Ikast
At any time, you may file a complaint to the competent supervisory authority, namely the national supervisory authority of the country, in which you are resident, or of your work place or of the place where the alleged violation of the regulations were committed. In Denmark, you can file a complaint to The Danish Data Protection Agency.