1.1. CRC shall render the Services to the Member in accordance with the provisions of its Membership Agreement, the terms of which are expressly incorporated into this form. Member hereby acknowledges that a copy of the Agreement has been provided for its perusal and execution.
1.2. Member shall request for, and utilize, the Credit Reports solely for Permitted Purposes and shall at all times ensure that adequate measures and actions are taken to safeguard confidentiality of all Reports.
1.3. Member acknowledges that CRC does not, and cannot guarantee or warrant the correctness, completeness, currency, merchantability or fitness of the information in a Credit Report for a particular purpose, as such information usually is not the product of an independent investigation by CRC. Member also acknowledges and agrees that the Credit Information provided by CRC is raw data which requires careful consideration and interpretation by the Member. Accordingly, Member agrees and undertakes that Reports shall not be the sole basis of its decision to grant/ enhance/ review/ extend/ renew financial assistance or other products offered by Member to a customer. Member agrees to carry out all the necessary due diligence and make all the enquiries that a prudent credit grantor would ordinarily make before making the above-mentioned decision.
1.4. Member shall obtain the Data Subject’s prior written consent to submit or procure Credit Information about the Data Subject to or from CRC. CRC is entitled to refuse or delay request for Credit Information until proof of such consent is provided by Member.
1.5. Member shall ensure that the Credit Information it will supply to CRC is reliable, true, accurate and complete in all respects and shall conform to the Technical Requirements. Member shall be liable for any error or inaccuracy in any Credit Information submitted to CRC and shall make all efforts to immediately correct such error and transmit the corrected information in a form acceptable to CRC upon realization or notification of such error or inaccuracy.
1.6. Member agrees that CRC shall not be liable:
(i) in absence of manifest errors in the Credit Information, for and undertakes to indemnify CRC and hold CRC fully and completely indemnified against, any actions, proceedings, claims, liabilities (including statutory liability), penalties, demands and costs (including, without limitation, legal costs of CRC ) awards, damages, losses and/or expenses, arising from, relating or attributable to its interpretation of the Credit Information and its decision whether or not to grant a credit facility to a
Data Subject; or
(ii) for any loss or injury arising out of or caused, in whole or in part from Member’s use of the Credit Information, except for acts of negligence by CRC in compiling, collecting, reporting, communicating or delivering the information.
1.7. CRC and Member are aware that certain confidential information and other material will be disclosed between both parties including without limit, trade and business secrets and other proprietary information and material belonging to either of the parties hereto, their group companies or associated organisations including but not limited to information relating to each other’s operations, systems, software, processes, methodologies, plans, know-how, data, ideas, customers, suppliers, personnel, prices, profitability or other business, commercial or financial affairs (“Confidential Information”) and
both parties shall take all reasonable steps to protect such Confidential Information from disclosure and discovery in accordance with the provisions of the Non-Disclosure Agreement to be signed by both parties.
1.8. All capitalized terms in these conditions shall have the same meaning ascribed to them in the Membership Agreement