3. I/We hereby certify that all information herein are true and correct based on my/our own knowledge and further authorize SBC to obtain information as it may require concerning my/our application to subscribe to this program and agree that it shall be retained by the Bank subject to the Bank's data retention policy, whether my/our application is approved or not. Any information given by me/us or other persons I/we authorize, which is not true or accurate, will automatically cause the Bank to reject my/our loan or cancel its approval.
4. I/We hereby willingly, voluntarily, and with full knowledge of my/our right under the law, waive the right to confidentiality of information and authorize SBC to disclose, divulge and reveal any such information relating to the account of the Borrower/Mortgagor, including events of default, for the purpose of, among others, client evaluation and profiling, credit reporting or verification and recovery of the obligation due and payable to the Bank under the Terms and Conditions of this agreement.
5. In view of the foregoing, SBC may disclose, divulge and reveal the aforementioned information to third parties, including but not limited to my/our employer, its affiliates, subsidiaries, agents or services providers, the Bankers' Association of the Philippines - Credit Bureau (BSP - CB) or to any similar central monitoring entity or recipients as provided for by law and required by competent authority.
6. I/We further authorize SBC as my Attorney-in-Fact, to conduct random verification with the Bureau of Internal Revenue (the "BIR") in order to establish the authenticity of my/our Tax Statements (the "ITR") and the accompanying financial statements/documents submitted to the Bank in accordance with banking regulatory requirements.
7. I/We also agree that the appraisal report will be forwarded directly to the Bank for its sole use only.
8. I/We hold SBC free and harmless from any and all liabilities, claims and demands of whatever kind or nature in connection with or arising from the aforementioned disclosure or reporting.
9. I/We hereby acknowledge that the Loan or any part(s) thereof shall be deemed to have been availed on the date on which funds are transferred to my/our bank account maintained with the Bank, or receipt of the Manager's Check reflecting the amount of the loan less applicable fees, charges and taxes.
10. I/We likewise authorize the Bank to provide me/us with a consumer loan or additional bank product/s (such as but not limited to auto, personal loan, credit card and other products suited to my situation) at the Bank’s sole discretion. My/Our acceptance of the credit card or the proceeds of any loan released pursuant thereto shall be conclusive proof of my/our acknowledgement of my/our additional obligations and/or indebtedness to the Bank under the Terms and Conditions set forth by the Bank and prevailing at the time the credit card is issued or the additional loan is approved.
11. I/We hereby agree that should my/our application be denied, SBC has no obligation to furnish the reason for such rejection or to return my/our application and other submitted documents.
12. I/We further certify that the proceeds of the loan, if this application is approved, will be used solely for the purpose stated in this application.
13. The foregoing shall continue to be in full force and effect until my/our loan obligation with the Bank, has been fully extinguished. This authority shall also cover subsequent renewals, extensions, increase and availments and/or re-availments of my/our loan accommodation with the Bank.
14. I/We also legally bind myself/ourselves to the Terms and Conditions of the Promissory Note, Disclosure Statement and other relevant documents that I/we shall execute in favor of SBC.
15. I/We guarantee that I/we have obtained the consent of any or all persons named herein as co-maker, guarantor, surety, past employer, supplier, seller of the property, or personal reference, for all purposes necessary to this loan agreement. Any information given by me/us or other persons I/we authorize, which is not true or accurate, will automatically cause SBC to reject my/our loan or cancel its approval.
16. I/We have read SBC’s privacy notice (www.securitybank.com/security-information) and understand that SBC recognizes my/our rights as data subject under the Data Privacy Act of 2012.
17. I/We hereby give consent to the processing of my/our personal data for purposes of obtaining the loan and all other ancillary services necessary for the maintenance of my/our account/s and collection of payment; and for audit and account balance confirmation (which shall include disclosure to external auditors) and allow them to contact me/us for this purpose (i.e. by email, telephone, text, etc.). Subject to remain in effect for five (5) years after account closure.
18. I/we hereby give my/our consent for SBC to share and process my/our information relating to my/our account/s to any member of the SBC Group (SBC and its affiliates and subsidiaries reported as part of SBC’s conglomerate map group structure as defined under BSP Circular 749) and Bancassurance companies or their authorized Service Providers and representatives, for purposes of cross-selling products and services.
