Subscriber Access Get My Credit Report

Subscription Agreement

1.INTERPRETATION
1.1.In this Agreement:
“Authorised Users”means the legal entities or persons (including licensed institutions) which subscribe to the services of the Credit Bureau (including any person(s), representative(s) and/or its employee(s) who are authorised to have access to the Credit Bureau’s products, services, Platform and/or other form of access to such products and/or services in any other manner as may be determined by the Credit Bureau) and includes the Subscriber, and “Authorised User” means any of them.
“BNM”means Bank Negara Malaysia
“Bureau” or
“Credit Bureau” or
“CBM”
means CREDIT BUREAU MALAYSIA SDN BHD (Registration No. 200801018741 (820050-T)), a company incorporated in Malaysia with its principal place of business at Level 10, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 47500 Subang Jaya, Selangor and/or its approved nominated subsidiary, as the owner and operator of Credit Bureau Malaysia and shall include, where applicable, its officers, directors, shareholders, employees and agents.
“Business Days”means Mondays to Fridays, excluding Public Holidays in the state or territory where Credit Bureau carries out its business and “Business Day” means any of them.
“CBA” means Central Bank of Malaysia Act 2009.
“Charges” means the services fees and other charges payable by the Subscriber.
“Confidential Information”means any and all proprietary, confidential or non-public information, individually and collectively, disclosed or to be disclosed and/or supplied or to be supplied by the Disclosing Party and/or its representatives to the Receiving Party and/or its representatives in whatsoever nature, whether oral (limited only to statement made in the course of formal discussions), in writing or in electronic form before or after the date of this Agreement in connection with this Agreement and/or the transactions contemplated under this Agreement, including, without limitation, communication and information containing or consisting of material of a technical, operational, administrative, economic, marketing, product, software, customer, planning, business or financial nature or in the nature of intellectual property of any kind including trade secrets, research and know-how, B2B specifications, whether or not expressly designated as “Confidential Information”.
“CRA”means the Credit Reporting Agencies Act 2010.
“Credit Files”means information relating to individuals, businesses and companies as collated, synthesised or processed by the Credit Bureau for a Relevant Purpose from the Data and “Credit File” and means all or any one or more of them.
“Credit Reports”means the report to be provided to the Subscriber under this Agreement in the form as may be determined from time to time by the Credit Bureau and in any written, electronic or other forms of communications based on the Credit Files and “Credit Report” means all or any one or more of them.
“Customersmean any former, existing and/or prospective customers or suppliers of an Authorised User(s) and includes any owner, partners, directors, shareholders, guarantors and/or individual in relation to such customers or suppliers, and “Customer” means all or any one or more of them.
“Data”means any data obtained by the Credit Bureau:
i. from Received Information provided by the Authorised User(s);
ii. from the Companies Commission of Malaysia;
iii. from any public record(s) and/or other;
and includes all or any part of Information which the CRA and/or any other applicable legislation permits to be disclosed to, or by, the Credit Bureau and/or Authorised User(s) for a Relevant Purpose.
“Data Protection
Requirements”
means any requirement under the CRA or any other written law or any rules, bylaws and directions given by BNM or any other relevant authority, and includes, where applicable, such other relevant legislation relating to the use, storage and dissemination of data of any company/business/individual.
“Disclosing Party”mean a Party disclosing any Confidential Information.
“FSA”means Financial Services Act 2013.
“IFSA”means Islamic Financial Services Act 2013.
“Information” means, collectively, Credit Information as defined by CRA and all Data, Credit Files and Credit Reports and means all or any one or more of them.
“Platform” means the platform, portal, website, mobile site and/or application owned and/or provided by the Credit Bureau where its Authorised User(s) access the same to the Credit Bureau’s products, services and/or any part thereof.
“Received Information”means information and data relating to company/business/individual and which is supplied or disclosed to the Credit Bureau by the relevant Authorised User(s) and/or from other sources including but not limited to information made available to the Credit Bureau vide the Third Party Facilities, as defined in clause 3 of the Terms of Agreement or any part thereof.
“Receiving Party” mean a Party receiving any Confidential Information.
“Relevant Purpose”means any one or more of the following purposes:
i. the purpose of assessing the creditworthiness of a Customer in connection with an application for credit by such Customer or a review of the account of the Customer; or
ii. any other purpose(s) permitted by any written law in Malaysia.
“Services” means:
i. the provision of Credit Reports by the Credit Bureau to Authorised Users for a Relevant Purpose; and/or
ii. the provision by the Credit Bureau of other services from time to time to Authorised Users and/or any other party(ies) subject always to the same not being prohibited by the applicable laws, regulations and/or regulatory requirements.
“Subscriber”means the Party whose information is detailed under “Subscriber Information” above.
1.2.In this Agreement, except where the context requires otherwise:-
(a) the singular includes the plural and vice versa;
(b) words denoting persons include firms and corporations and vice versa;
(c) a reference to one gender includes all genders;
(d) a reference to any statute, enactment, order regulation or other similar instrument shall be construed as reference to the statute, enactment, order, regulation or instrument as amended by any subsequent statute, enactment, order, regulation or instrument or as contained in any subsequent re-enactment, modification or statutory extension of any of the above and shall also include all regulations, proclamations, ordinances, by-laws and/or guidelines issued under that statute from time to time;
(e) headings are for ease of reference only and shall not affect the interpretation or construction; and
(f) reference to a Party includes its successors in title.
2.
SUPPLY OF RECEIVED INFORMATION TO CREDIT BUREAU
2.1.In consideration of the Credit Bureau agreeing to supply the Services and/or maintaining and updating Credit Files, the Subscriber agrees and undertakes that subject to it being permitted to do so under the applicable laws, regulations and regulatory requirements, it shall:
(a) supply to the Credit Bureau the Received Information and any data pertaining to such company/business/individual which is available to the Subscriber;
(b) provide the Credit Bureau the Received Information so long as the Subscriber is permitted to disclose the same subject to obligations and duty of confidentiality and secrecy under the CRA and/or any other applicable legislation in place from time to time;
(c) supply the Received Information as available to it, in the manner, form and media as may be prescribed by the Credit Bureau from time to time;
(d) supply to the Credit Bureau updates to any Received Information previously supplied by the Subscriber in a regular timeframe, whenever the Subscriber is aware or has reason to believe that the earlier Received Information has become inaccurate and/or if the Subscriber is able to obtain updates thereof; and
(e) procure consent from the Customer for disclosure of Credit Information and provide the statutory notification to the Customer on behalf of Credit Bureau in the manner as may be prescribed by the Credit Bureau and retain evidence of the same for a period of at least seven (7) years.
2.2.In respect of Received Information supplied by the Subscriber, the Subscriber undertakes and warrants to the Credit Bureau that it has fully complied with and is not in contravention of any obligation and/or duties under the CRA and/or any applicable laws, regulations and/or regulatory requirements.
2.3.The Subscriber shall regularly update all information and data supplied to the Credit Bureau and take all necessary steps to ensure that the Received Information supplied by it are accurate, complete, relevant, correct and current.
2.4.Notwithstanding anything to the contrary, the Subscriber grants to the Credit Bureau an irrevocable right to collect, use, reproduce, transcribe, copy, edit, amend, convert, collate, retain, process and disclose the Received Information supplied to the Credit Bureau to any persons for any purposes as the Credit Bureau may think fit.
3.
UTILISATION OF FACILITIES FROM THIRD PARTY FACILITIES
3.1The Credit Bureau and the Subscriber acknowledge that BNM and other Credit Bureau data sources have established and operate computerised database system(s) (collectively termed as “Third Party Facilities”).
3.2.The Subscriber agrees and acknowledges that the Credit Bureau may utilise the Third Party Facilities as the source of supply for the Received Information including any updates thereto as supplied by the Subscriber to the Credit Bureau.
3.3.The Subscriber acknowledges and agrees that neither the Third Party Facilities nor the Credit Bureau guarantee any Credit Information available will be complete or free from any errors, inaccuracies or discrepancies whatsoever and in this regard, the Credit Bureau and the Third Party Facilities shall have no liability whatsoever to the Subscriber for any loss, claims, actions or liabilities suffered or incurred by the Subscriber as a result of any reliance on such information obtained from/vide the Third Party Facilities.
4.
CREDIT BUREAU’S OBLIGATIONS
4.1.Where the Credit Bureau collects information directly or indirectly from a Customer for disclosure to a subscriber, Credit Bureau shall inform the Customer of the purpose for which Credit Bureau is collecting the information and the purposes for which the information will be further processed.
4.2.The Credit Bureau shall not disclose information to the Subscriber without taking such steps as are, in the
circumstances, reasonable to ensure that the information is accurate, up-to-date, complete, relevant, and not misleading.
4.3.The Credit Bureau shall, where under an obligation to do so and as soon as reasonably practicable, update any information previously disclosed to the Subscriber and ensure that the information remains accurate, up-to-date, complete, relevant, and not misleading.
4.4Notwithstanding anything to the contrary, the Credit Bureau’s cumulative liabilities towards the Subscriber howsoever arising from and/or under this Agreement shall not exceed RM50,000. In addition, the Subscriber agrees that the Credit Bureau’s liabilities shall be limited to direct damages only, and shall not include any claim for loss of profit, loss of goodwill, loss of reputation, and/or any other manner of indirect, punitive or consequential loss.
5.
STORAGE AND SECURITY OF INFORMATION
5.1.The Credit Bureau when processing any information, shall take all reasonable practical steps to protect the Credit Information from any loss, misuse, modification, unauthorised or accidental access or disclosure, alteration or destruction by having regard:

  1. to the nature of the information and the harm that would result from such loss, misuse, modification, unauthorised or accidental access or disclosure, alteration or destruction;

  2. to the place or location where the Information is stored;

  3. to any security measures incorporated into any equipment in which the Information is stored;

  4. to the measures taken for ensuring the reliability, integrity and competence of personnel having access to the information; and

  5. to the measures taken for ensuring the secure transfer of the information.
5.2.Where processing of the information is carried out by an information processor on behalf of the Credit Bureau, the Credit Bureau shall, for the purpose of protecting the information from any loss, misuse, modification, unauthorised or accidental access or disclosure, alteration or destruction, shall ensure that the information processor:

  1. provides sufficient guarantees in respect of the technical and organisational security measures governing the processing to be carried out; and

  2. takes reasonable steps to ensure compliance with those measures.
5.3.Without limiting the generality of clauses 5.1 and 5.2, Credit Bureau shall take the following measures to safeguard the information it holds against unauthorised access or misuse by:

  1. developing written policies and procedures to be followed by its information processors, its employees, agents and contractors, or any other person providing services to it;

  2. imposing access authentication controls such as the use of passwords, credential tokens, digital signatures or other mechanisms;

  3. providing information and training to its employees to ensure compliance with the policies, procedures and controls;

  4. ensuring that a subscriber agreement that complies with the Fourth Schedule of the CRA is in place before disclosing any Information to a subscriber;

  5. identifying and investigating possible breaches of the relevant subscriber agreement, policies, procedures and controls;

  6. taking prompt and effective action in respect of any breaches that are identified;

  7. systematically reviewing the effectiveness of the policies, procedures and controls and promptly remedy any deficiencies; and

  8. maintaining an access log.
5.4.The Credit Bureau shall ensure that if it is necessary for the Information or any part thereof to be given to a person in connection with the provision of a service to the Credit Bureau, the Credit Bureau shall take all reasonable measures to prevent any loss, misuse, modification, unauthorised or accidental access or disclosure, alteration or destruction of the information.
5.5.The access authentication controls required under clause 5.3(b) shall include, in respect of an access made, a means of identifying both the Subscriber and the specific person of the Subscriber who have access to the Information, or other person who has access to that Information.
5.6.The access log required under clause 5.3(h):
  1. shall include a record of the time and date of access to the Information, the identity of the Subscriber or any other person who has access to the Information, and the purpose in relation to each access; and

  2. shall identify or provide a means to identify the specific user of the Subscriber who has accessed that Information and the specific Customer whose information was so accessed.
5.7.The Credit Bureau shall ensure that the access log contains records of all accesses made for a period of not less than two (2) years preceding the date of the access.
6.
OBLIGATIONS OF SUBSCRIBER
6.1.The Subscriber or any other person who has access to the information processed by the Credit Bureau through the Subscriber shall take appropriate measures to safeguard the Information against any unauthorised or improper access, use, modification or disclosure, including:

  1. developing written policies and procedures to be followed by its employees, agents and contractors;

  2. establishing controls, including:

    1. the use of passwords, credential tokens, digital signatures or other mechanisms; and
    2. user identification;

  3. providing information and training to ensure compliance with policies, procedures and controls;

  4. monitoring usage and regularly checking compliance with policies, procedures and controls;

  5. taking appropriate action in relation to identified breaches of policies, procedures and controls; and

  6. maintenance of logs of all accesses, amendments and audit trails to the Information provided to it by the Credit Bureau.
6.2.The Subscriber undertakes that it shall take all necessary steps to maintain the utmost security and confidentiality of information obtained or communicated, documents prepared and records kept, whether obtained from the Credit Bureau or otherwise, and any other matter undertaken in connection with this Agreement, whether before the effective date of the Agreement, during the period of the Agreement or after the expiry or termination of this Agreement.
6.3.The Subscriber undertakes that it shall take such steps that are necessary to ensure that its employees, agents or any other person that may have access to the information or any part thereof do not disclose or use the same other than in accordance with the Agreement.
6.4.The Subscriber shall promptly cooperate with the Credit Bureau in its efforts to investigate and resolve complaints and correction requests relating to Information.
6.5.The Subscriber shall in order to safeguard the information held by it against unauthorized or improper access, use, modification or disclosure take appropriate measures, including the following:-

  1. to develop written policies and procedures to be followed by its employees, agents and contractors;

  2. to establish controls, including-

    1. the use of passwords, credential tokens, digital signatures or other mechanisms; and
    2. user identification;

  3. to provide information and training to ensure compliance with the policies, procedures and controls;

  4. to monitor usage and regularly check compliance with the policies, procedures and controls;

  5. to take appropriate action in relation to identified breaches of the policies, procedures and controls; and

  6. Tto maintain logs of all accesses, amendments and audit trails to the credit information provided to it by the Credit Bureau.
7.
REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS
7.1.The Subscriber represents warrants and undertakes to the Credit Bureau:

  1. that the Subscriber has full legal right, authority and power to enter into and bind itself by this Agreement and to exercise its rights and perform its obligations under this Agreement;

  2. that the Subscriber, where applicable, has the necessary license, permit, registration and/or approval issued by the relevant governmental and/or regulatory agencies to operate and conduct its business under the applicable laws, regulations and regulatory requirements;

  3. that the Subscriber has received and/or shall obtain or procure written permission and/or consent from each and every Customer to disclose or supply such Received Information relating to such Customer whether directly or indirectly supplied or furnished to the Credit Bureau in the manner as may be prescribed by the Credit Bureau and retain records of the same for a period of at least seven (7) years;

  4. that if requested by the Credit Bureau, the Subscriber shall provide to the Credit Bureau the written permission and/or consent obtained from the Customers by way of evidence or verification that such written permission and/or consent has been obtained;

  5. the Subscriber acknowledges in the event they fail to provide the requested proof of consent and/or if they fail to supply or update the Received Information every month the Credit Bureau reserves the rights to:

    1. suspend all Credit Bureau services with immediate effect as the Subscriber will be deemed to have breached the terms of the Agreement;
    2. forfeit all remaining balance, if any, in the Subscriber’s pre-paid package (where applicable); and/or
    3. report the matter to the relevant authorities for further action;

  6. that where the Subscriber provides any personal data (as defined under the Personal Data Protection Act 2010 (“PDPA”)) to the Credit Bureau in any manner for any purpose in connection with this Agreement and/or the Services, the Subscriber shall:-

    1. obtain the consent of each data subject to allow the Credit Bureau to process such data in accordance with the PDPA and the Credit Bureau’s Privacy Policy;
    2. ensure that each data subject has been provided with and have agreed to the terms of such Privacy Policy; and
    3. shall immediately provide to the Credit Bureau with such consent(s) obtained from the data subject(s), if requested by the Credit Bureau.
8.
PROVISION OF SERVICES TO THE SUBSCRIBER
8.1.The Subscriber hereby agrees and acknowledges that the provision of the Services by the Credit Bureau to the Subscriber is subject to the terms and conditions as set out in the Privacy Policy and any other guidelines, circulars, instructions, notices, directions and other formats as may be published and issued by the Credit Bureau from time to time. The Subscriber acknowledges and agrees that a copy of the and Privacy Policy have been provided by the Credit Bureau to the Subscriber and the Subscriber agrees to abide by the Privacy Policy. The Subscriber further agrees that the Credit Bureau is entitled to issue further amendments, variation or modification to the Privacy Policy from time to time.
8.2.The Subscriber agrees to comply at all times with the provisions of the Privacy Policy, guidelines, circulars, instructions, notices and directions issued by the Credit Bureau. In the event of any inconsistency between the terms of the Privacy Policy, and the terms of this Agreement, the terms of this Agreement shall prevail to the extent of such inconsistency.
8.3.Where the Services relate to the provision of the Credit Reports by the Credit Bureau or any other services provided to the Subscriber, such provision by the Credit Bureau to the Subscriber shall be subject to the following conditions:

  1. The Subscriber shall ensure that it:

    1. shall only request or use the Information obtained from the Credit Bureau for a Relevant Purpose and/or such other purposes as permitted by applicable laws, regulations and/or regulatory requirements;
    2. retains adequate evidence to establish the existence of a Relevant Purpose in respect of each request for a Credit Report for a period of not less than seven (7) years from the date of the relevant request; and
    3. discloses no Information provided to it by the Credit Bureau to any person or entity except that it may make such disclosure of the Information as is authorised or required by any applicable laws, regulations and/or regulatory requirements.

  2. The Subscriber agrees that any use of or access to a Credit Report or any other products and/or services provided by the Credit Bureau referable to the Subscriber’s Authorised User(s), userID(s) and/or password(s) shall be deemed to be use or access of the same by the Subscriber. The Subscriber acknowledges and agrees to be bound by and agrees to fully indemnify the Credit Bureau, its directors and employees and keep the Credit Bureau, its directors and employees fully indemnified against any and all losses, liabilities, claims, damages, penalties, fees, costs and expenses (including legal fees) attributable to any access, use, acts, requests, instructions and/or communications referable to its Authorised User(s), userID(s) and/or password(s) and agrees that the Credit Bureau shall be entitled to act upon, rely on and/or hold the Subscriber solely responsible and liable in respect thereof as if the same were performed or transmitted by the Subscriber. The Subscriber shall ensure that its Authorised User(s) shall:

    1. comply with the terms of this Agreement in the use of and/or access to the Platform(s), Credit Report(s) and/or other products and services provided by Credit Bureau;
    2. not share the account(s), user ID(s) and/or password(s) created with anyone else;
    3. inform the Credit Bureau immediately upon discovery of any unauthorised use and/or access to the same;
    4. not to sell, loan, publish, transfer, license, develop, publish or otherwise modify any parts of the Credit Report(s), any other documents, and/or information derived from the use of the Platform(s) and/or the Credit Report(s);
    5. immediately request for Credit Bureau to block the Authorised User(s)’ access in writing (via email) in the event of the Authorised User(s)’ resignation, replacement, variation of my job function, termination of employment including any other event that would annul the Authorised User(s)’ privilege under this Agreement and clearly inform Credit Bureau the details of the person who will be in charge of relieving any of their outstanding duties temporarily (if any) during the aforementioned event to assist in the transition;
    6. not in any event, cause any other person(s) directly or indirectly either by the Authorised User(s)’ actions or omissions breach any of the intended prohibitions and conditions contained in the this Agreement, Privacy Policy, as stated herein or any applicable laws, regulations or regulatory requirements;
    7. not to create a general user account or any other duplicate accounts for the security administrators user(s)’ access to the Platform(s); and
    8. (in relation to the security administrators user(s)): monitor the creation and deletion of any general user ID account(s) and their conduct in respect of the limited access to the Platform(s) in accordance with the terms of this Agreement, and all applicable laws, regulations and regulatory requirements, revoke any general user ID account(s) through the Platform(s) in the event of their resignation, replacement, variation of job function, termination of employment or any other event that would annul their privilege as an Authorised User of the Subscriber and only grant access to the general user(s) in accordance with the user access rights matrix provided by Credit Bureau;

  3. No part or whole of any of the Services provided by the Credit Bureau may be used, reproduced or redistributed by the Subscriber for any purpose other than a Relevant Purpose without the prior written consent of Credit Bureau;

  4. The Subscriber shall faithfully reproduce all copyrights and other proprietary notices, symbols and clauses of the Credit Bureau on all copies of the Credit Reports made whether in printed form, magnetic or any other media;

  5. The Subscriber acknowledges that it is aware that any use of the Services and/or Platform, whether by accessing, retrieving, processing, utilising, or otherwise dealing with the same is subject to the CRA and all applicable laws, regulations and regulatory requirements;

  6. Unless the Credit Bureau has given its prior written consent (and such consent shall not be unreasonably withheld), the Subscriber shall not and shall not permit any other person to:

    1. make any additions, modifications, adjustments or alterations to any Credit Report or the information contained therein;
    2. attempt to rectify or permit any persons other than the Credit Bureau or its employees, sub-contractors or agents to rectify any fault or inaccuracy in any Credit Report;
    3. otherwise tamper with any Credit Report while such Credit Report is in the Credit Bureau’s Platform;
    4. have any shared use and/or access to the Credit Report, Credit Bureau’s products, services and/or Platform in any manner.

  7. The Subscriber acknowledges that the Credit Bureau reserves the right to amend particular programmes, information and facilities of which the Services are comprised from time to time at its discretion, provided any such amendment does not unreasonably impair the accessibility and utilisation of the Credit Reports;

  8. Subject to the Subscriber being given such notice as may be determined to be reasonable, the Credit Bureau reserves the right to:

    1. suspend the Services for repair, modification, maintenance, or improvement;
    2. issue or vary notices, guidelines, rules and instructions relating to the use of the Services, which the Credit Bureau may in its sole discretion decide from time to time for the Subscriber’s observance provided that such notices, guidelines, rules and instructions are not inconsistent with the terms of this Agreement; and/or
    3. make any modification, change, addition to or replacement of any part of its software, equipment and/or the Services at any time, as the Credit Bureau may deem reasonably necessary, provided such modification, change, addition or replacement does not materially alter the functional aspects of the Services;

  9. The Subscriber acknowledges:

    1. that it is a mandatory requirement for them to obtain written consent from each and every of their Customer whose Credit Report they have retrieved via the Credit Bureau in the manner as may be prescribed by the Credit Bureau and it shall retain evidence of the same for a period of at least seven (7) years;
    2. that if requested by the Credit Bureau, the Subscriber shall provide to the Credit Bureau the copy of the written permission and/or consent obtained from the Customer within 5 working days; and
    3. If the Subscriber fails to provide the requested proof of consent, the Credit Bureau reserves the right to:

      • (aa) suspend all Services with immediate effect as the Subscriber will be deemed to have breached the terms of the Agreement;
      • (bb) where applicable, forfeit all remaining balance in the Subscriber’s prepaid package, and the Subscriber shall be liable to pay a penalty of 5 times the subscription amount; and
      • (cc) report the matter to the relevant authorities for further action;



  10. (In relation to the B2B specifications provided by the Credit Bureau (if any)), the Subscriber shall:

    1. ensure that it keeps all audit log(s) detailing all disclosures made to all its Authorised User(s) and other subsequent disclosures made by the Authorised User(s) in relation such B2B specifications and how they are kept or stored to prevent unauthorised and accidental disclosures and furnish the Credit Bureau with such log(s) whenever requested;
    2. not breakdown, disassemble or decompile such B2B specifications by reverse engineering or any other methods or procedures and further undertakes not to claim ownership of the product of such procedures;
    3. not sell, license, develop, publish the B2B specifications either in whole or in parts and shall not transmit, transport, or store the B2B specifications outside Malaysia except on prior written authorization of the Credit Bureau;
    4. ensure that the B2B specifications are only accessed using specific User ID and password assigned by the Credit Bureau, if applicable; and
    5. implement the necessary security protocols to ensure that the User ID and password are not circulated or shared and to prevent any breach of security of any of the B2B specifications.
9.
CHARGES
9.1.The Subscriber shall pay to the Credit Bureau the following (where applicable):

  1. fees for retrieval of Credit Reports;

  2. any other charges that may arise, as required by the Credit Bureau; and

  3. prevailing fees and charges for other services and/or reports that the Subscriber obtains from the Credit Bureau.
9.2.The subscription to the Services is available on postpaid, prepaid and other basis. Unless and otherwise specifically approved by the Credit Bureau, the Subscriber is required to purchase a prepaid package to utilise the Services wherein clauses 9.3 to 9.6 below shall apply in respect of such prepaid package. For the avoidance of doubt, clauses 9.7 to 9.12 apply to all subscribers whether the subscription is made on a postpaid, prepaid or other basis.
9.3.Every time the Subscriber utilises the Services, the purchase amount is automatically deducted from its prepaid package balance.
9.4.The Subscriber shall make the full upfront payment upon accepting the prepaid package.
9.5.The prepaid package is deemed to expire ONE (1) year from the acceptance of the prepaid package, or upon full utilisation of the credit limit under the package, whichever is earlier. Any top ups of the credit limit under the package will expire ONE (1) year from the top up date.
9.6.The prepaid package is non-cancellable and non-refundable upon purchased. In the event that the prepaid balance has reached the minimum limit to purchase Credit Reports, Credit Bureau, shall have the discretion to:-

  1. suspend and/or withdraw the Subscriber’s access to the Services, Credit Reports and/or Platform in whole or in part; and/or
  2. allow the Subscriber to access to the Services, Credit Reports and/or Platform at such revised package (prepaid, postpaid or otherwise) at such revised terms and/or charges as may determined by Credit Bureau.
9.7.Any and all charges due to Credit Bureau shall unless otherwise specified, be payable by the Subscriber to the Credit Bureau within thirty (30) days of the date of invoice.
9.8.Without prejudice to the rights and remedies of the Credit Bureau hereunder, at law, in equity, by statute or otherwise, the Credit Bureau reserves the right to charge interest at the rate of 1.5% per month on any overdue fees and/or other sums due hereunder if such fees and/or other sums due remains unpaid for fourteen (14) days after its due date. Such interest is to be computed from the due date for the payment of the said sums until payment of such sums is received in full by the Credit Bureau.
9.9.The Credit Bureau may at any time increase any fees, charges and/or unit charges for the Services by giving not less than seven (7) days’ notice in writing.
9.10.If the payment terms are otherwise than in full and in advance, and if any payment provided for is not made when due, then the entire amount shall immediately become due and payable upon notice. The Subscriber agrees to pay delivery charges and applicable taxes, which are not included in the amounts shown on the face of this Agreement, and which will be invoiced to the Subscriber. The Credit Bureau is not obligated to give any refunds for unused units for the Services.
9.11In addition to the price and fees set out above, other charges including but not limited to expenses, disbursements and all applicable taxes will be charged as appropriate.
9.12.Methods of payment will be as below:
• Cash Payment;
• Cheque Payment to be made payable to Credit Bureau Malaysia Sdn. Bhd. (820050-T) and mail to Level 10, Menara Sunway, Jalan Lagoon Timur, Bandar Sunway, 47500 Subang Jaya, Selangor.
• Direct bank-in to:
Bank Account: Maybank
Bank Account Holder: Credit Bureau Malaysia Sdn. Bhd.
Bank Account Number: 5123-5260-4549.
• Credit Card Payment via payment terminal in the Credit Bureau’s office.
10.
LIABILITY AND INDEMNITY
10.1.The Subscriber undertakes fully and effectively to defend, indemnify and hold the Credit Bureau, its directors and employees harmless and keep the Credit Bureau, its directors and employees fully and effectively indemnified at all times against all actions, proceedings, costs, claims, losses, demands, liabilities, penalties, costs and expenses whatsoever (including legal fees and disbursements) sustained, incurred and/or suffered by the Credit Bureau in respect of:

  1. any breach by the Subscriber (or any of its officers, employees, contractors, or agents) of any of the provisions of this Agreement or any schedule or annexure attached or adopted as relative hereto; and/or

  2. the use of or reliance on Received Information supplied by or through the Subscriber which is inaccurate (by reason of the negligence, default of the Subscriber or failure of the Subscriber to update such Received Information in accordance with the provisions above).
10.2.This Clause 10 shall survive the expiry or termination of this Agreement.
11.
CONFIDENTIALITY
11.1.Except as otherwise agreed between the Parties under this Agreement, the Subscriber and the Credit Bureau undertake to the other to:

  1. keep confidential all Confidential Information belonging to the other;

  2. treat Confidential Information belonging to the other with the same degree of care that it uses for its own confidential information; and

  3. use the Confidential Information belonging to the other solely in connection with the provision or receipt of the Services and not for its own benefit or the benefit of any third party.
11.2.The Subscriber and the Credit Bureau hereby undertake to the other to make all relevant employees, agents, contractors, sub-contractors and other parties who may have access to the Confidential Information aware of the confidentiality of the Confidential Information belonging to the other and to take all such steps as shall from time to time be necessary to ensure compliance by such employees, agents, contractors, sub-contractors and third parties with the provisions of this clause and indemnify the other Party against any breach of this clause.
11.3.The provisions of clauses 11.1 and 11.2 shall not apply to any information which:

  1. is or becomes public knowledge other than by breach of this Agreement;

  2. is in the possession of the Receiving Party without restriction in relation to disclosure before the date of receipt from the Disclosing Party;

  3. is received from a third party who lawfully acquired it and who is under no obligation restricting its disclosure; and/or

  4. is independently developed without access to any Confidential Information belonging to the other.
11.4.The Parties agree that their confidentiality obligations and restrictions under this Clause shall survive the expiry or termination of this Agreement for any reason whatsoever.
12.
TERM
12.1.This Agreement shall continue in force from the date of this Agreement until terminated in accordance with the terms of this Agreement.
12.2.This Agreement may be terminated in-writing by either Party upon the occurrence of any of the following events:

  1. if the other Party has committed a breach of this Agreement or the Code of Conduct and:

    1. the breach is material and not capable of being remedied; or
    2. if the breach is capable of being remedied, the other Party has failed to rectify the breach at the expiry of 30 days from the innocent Party’s notice specifying the nature of the breach and requiring the same to be rectified;

  2. the other Party passes a resolution, or a court of competent jurisdiction makes an order that the other Party be wound up (otherwise than for the purpose of a bona fide reconstruction or amalgamation) or placed under judicial management, or a receiver, manager or administrator on behalf of a creditor is appointed in respect of the business or any part thereof of the other Party, or circumstances arise which entitle a court of competent jurisdiction or a creditor to appoint a judicial manager, receiver, manager or administrator or which entitle a court of competent jurisdiction (otherwise than for the purpose of a bona fide reconstruction or amalgamation) to make a winding-up order; or

  3. either Party giving to the other Party 30 days written notice of its intention to terminate the Agreement.
12.3.This Agreement shall be automatically terminated at the expiry of one (1) year of any non-renewal of the relevant package(s) of the Services, non-payment of any of the relevant fees and/or charges under this Agreement and/or any inactivity in relation the subscription to the Services, unless otherwise extended in-writing by Credit Bureau.
12.4.Notwithstanding the expiration or termination of this Agreement for any reason whatsoever:

  1. the Subscriber shall remain liable to pay all outstanding charges and fees owing to the Credit Bureau in addition to any interests or compensation and collection costs including legal costs on an indemnity basis, if any;

  2. the respective rights of the Parties under clauses 2.4, 7, 8, 10, 11 and 12 shall survive; and

  3. subject to the CRA, any other applicable laws, regulations and/or regulatory requirements, the Credit Bureau shall be entitled to retain and/or continue the use of any Received Information supplied by the Subscriber prior to the termination under the terms of this Agreement and the Credit Bureau may use such Received Information in the provision of the Services to other Authorised Users.
12.5.Upon termination of this Agreement, the Subscriber’s obligation to provide updates of all Received Information supplied to the Credit Bureau pursuant to clause 2 above shall cease.
12.6.Without prejudice to the other rights and remedies available to the Credit Bureau, the Credit Bureau shall reserve the right to withdraw and/or suspend the Subscriber’s access to the Services, Credit Reports and/or Platform in whole or in part with or without any notice to the Subscriber in the event the Subscriber fails to comply with any of the provisions of this Agreement.
13.
GENERAL
13.1.Entire agreement
This Agreement shall constitute the entire agreement between the Parties in relation to the subject matter hereof and supersedes all previous agreements and undertaking in relation to the subject matter hereof.
13.2.Severability
If any provisions of this Agreement is declared by any judicial or other competent authority to be void, voidable, illegal or otherwise unenforceable or indications to that effect are received by either of the Parties from any court of competent jurisdiction, such provision shall be deemed to have been severed or deleted and the remaining provisions of this Agreement shall remain in full force and effect.
13.3.Assignment, sub-contracting and novation
The Credit Bureau shall be entitled to assign and/or novate all the benefits, rights, interests, obligations and liabilities under this Agreement to any other party or such nominee as the case may be by notification in writing of such intention or decision to the Subscriber, provided always that the assignee or transferee, as the case may be agrees to be bound by the provisions of this Agreement as if it were the original party thereto from the date of the assignment or novation. Save and except as provided in this clause 13.3, this Agreement shall not be assigned or transferred by either Party except with the prior written consent of the other Party.
13.4.Notices
Any notice, request or demand required to be served or given by any Party on the other under any of the provisions of this Agreement shall be in writing and shall be deemed sufficiently served if:

  1. it is given or dispatched by hand to the recipient Party at the recipient Party’s address provided under this Agreement, and shall be deemed to be received at the time of receipt by the recipient Party;

  2. by pre-paid recorded delivery, registered post or courier to the recipient Party at the recipient Party’s address provided under this Agreement, and shall be deemed to be received at the time of receipt by the recipient Party; or

  3. where by e-mail to the recipient Party, and shall be deemed to be received at the time of receipt by the recipient Party at the following email address:-


Subscriber: (at any email address as may be provided by the Subscriber to the Credit Bureau in-writing)
Credit Bureau: [email protected]
13.5.Arbitration
Any dispute, controversy, difference or claim arising out of or relating to this Agreement, or the breach, termination or invalidity thereof shall be settled by arbitration in accordance with the AIAC Arbitration Rules in force at the time of commencement of the arbitration. The seat of arbitration shall be Kuala Lumpur. The language used in the arbitral proceedings shall be English. This clause does not preclude the making of an application to any Courts for injunctive or other interim relief.
13.6.Governing law and jurisdiction
This Agreement shall be governed and construed in accordance with the laws of Malaysia.
13.7.Counterparts
This Agreement may be executed in counterparts by the respective Parties, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement, provided that each one and same agreement shall be of no force and effect until the counterparts are exchanged. Electronic signatures shall be deemed as original signatures.
13.8.Waiver
Any delay or failure of either Party to exercise a right or remedy will not result in a waiver of that, or any other, right or remedy. No single or partial exercise by either Party of a right or remedy will prevent or restrict any further or other exercise or the exercise of any other right or remedy.
13.9.Force Majeure
In the event that Credit Bureau shall be rendered wholly or partly unable to observe and perform this Agreement or any part thereof on its part to be observed and performed by reason of causes beyond its control including but not limited to fire, flood, explosion, earthquakes, acts of elements, acts of God, accidents, epidemics, strikes, lockouts, labour disputes, insurrection, riots or other civil commotion, war, enemy action, acts demands or requirements of the government in any country or state or by other causes which it cannot reasonably be expected to avoid (“Event of Force Majeure”), the performance of Credit Bureau shall be excused during the continuance of any inability so caused.
13.10.Compliance with Policies
In the event that Credit Bureau shall be rendered wholly or partly unable to observe and perform this Agreement or any part thereof on its part to be observed and performed by reason of causes beyond its control including but not limited to fire, flood, explosion, earthquakes, acts of elements, acts of God, accidents, epidemics, strikes, lockouts, labour disputes, insurrection, riots or other civil commotion, war, enemy action, acts demands or requirements of the government in any country or state or by other causes which it cannot reasonably be expected to avoid (“Event of Force Majeure”), the performance of Credit Bureau shall be excused during the continuance of any inability so caused.
14.
CREDIT MONITORING SERVICE
14.1.The Subscriber shall provide the completed documents specified in the Credit Monitoring Service (CMS) Subscription Form together with the payment or payment slip in order for the Credit Bureau to activate CMS. In addition, the Subscriber hereby represents and warrants that:-

  1. the named recipients are authorised to receive CMS alerts from the Credit Bureau and the Subscriber shall promptly update Credit Bureau in writing should there be any changes on the recipients list; and
  2. the named recipients have been provided with a copy of Privacy Policy each, have agreed to the terms of such Privacy Policy and provided their consent in respect thereto.
14.2The Subscriber acknowledges and agrees that neither the Credit Bureau nor the Credit Bureau’s data source/vendor guarantee that information available will be complete or free from any errors, inaccuracies or discrepancies whatsoever and in this regard the Credit Bureau and the Credit Bureau’s data source/vendor shall have no liability whatsoever to the Subscriber for any loss, claims, actions or liabilities suffered or incurred by the Subscriber as a result of any reliance on such information obtained using CMS.
14.3The Subscriber understands that while the Credit Bureau will use its best endeavours to ensure that all information transmitted using the CMS is secure, the Credit Bureau does not warrant the security of any information transmitted to the Subscriber using the CMS.
14.4.The CMS shall be deemed terminated:

  1. by the Credit Bureau giving the Subscriber fourteen (14) days written notice;
  2. if the Subscriber fails to make the relevant fees/charges payable to Credit Bureau in respect of such use and/or fails comply with any of the Credit Bureau guidelines and/or instructions communicated to the Subscriber; or
  3. if the Subscriber is in breach of the any of the CMS terms and conditions, the Code of Conduct or this Agreement.
14.5.The Subscriber undertakes fully and effectively to indemnify the Credit Bureau, its employees, officers and agents and keep the Credit Bureau, its employees, officers and agents indemnified at all times against all losses, damages, penalties, fees, actions, proceedings, costs, claims, demands, liabilities and expenses whatsoever (including legal and other fees and disbursements on a full indemnity basis) sustained, incurred or suffered by the Credit Bureau, its employees, officers and agents in respect of:

  1. the access to and/or use by the Subscriber (or its officers, employees or agents) of the CMS or referable to the access to and/or use by the Subscriber (or its officers, employees or agents) of the CMS;
  2. the use of any information, data or material produced by the Subscriber obtained in whole or in part from the CMS in any manner whatsoever;
  3. any breach by the Subscriber (or any of its officers, employees or agents) of any of the provisions of this CMS Subscription Form and/or this Agreement; and/or
  4. any breach of any applicable laws, regulations, guidelines obligations, requirements and/or arrangements whatsoever applicable to the Subscriber, its officers, employees and/or agents (whether statutorily, contractually or otherwise).