1. 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 Security Bank ("the Bank") to disclose, divulge and reveal any such information relating to my/our account, 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. In view of the foregoing, the Bank may disclose, divulge and reveal the aforementioned information to third parties, including but not limited to my/our employer/s, the Bank's affiliates, subsidiaries, agents or service providers, the Banker's Association of the Philippines - Credit Bureau (BAP - CB) or to any similar central monitoring entity or recipients as provided for by law and required by competent authority.
2. I/We further authorize the Bank, as my/our Attorney-in-Fact, to conduct random verification with the Bureau of Internal Revenue (the "BIR") in order to establish the authenticity of my/our Income Tax Statements (the "ITR") and the accompanying financial statements/documents submitted to the Bank in accordance with banking regulatory requirements.
3. I/We hereby hold the Bank free and harmless from any and all liabilities, claims, and demands of whatever kind or nature, in connection with or arising from the foregoing disclosure or reporting, except in cases of the Bank’s gross negligence or willful misconduct.
4. I/We also agree that the appraisal report will be forwarded directly to the Bank for its sole use only.
5. 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.
6. In case of disapproval, I/we understand that the Bank is under no obligation to disclose the reason/s for such disapproval.
7. I/ We acknowledge and agree that all appraisal fees, processing fees, and other related charges paid to the Bank in connection with the application for a loan—whether approved, denied, or cancelled—are strictly non-refundable. I/ We fully understand that payment of these fees does not guarantee the approval of loan application.
8. I/We further certify that the proceeds of the loan, if this application is approved, will be used solely for the purpose stated in the application.
9. 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 the Bank to reject my/our loan or cancel its approval.
10. I also authorize SBC to process, transfer, share and disclose any information relating to my credit data, telecom or mobile usage data or “telco score” to credit info data providers or credit scoring service providers (i.e. Globe Telecom, Inc., Smart Telecommunications, Inc., and other telecommunications service provider), for the purpose of credit verification, collection, credit review and credit scoring/analytics, and statistical and risk analysis.
11. I/We confirm that all personal, financial, and contact details provided in this application form are true, correct, and updated as of the date of submission. I/We further agree that the information declared herein shall be used by the Bank to update its customer records and shall serve as the basis for any modification or correction in the Bank’s system, consistent with applicable KYC and data privacy regulations.
I/We have read SBC’s privacy notice (www.securitybank.com/security-information) and understand that the Bank recognizes my/our rights as data subject under the Data Privacy Act of 2012. 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. 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, profiling and credit evaluation/reference checks, audit and account balance confirmation and allow them to contact me/us for this purpose (i.e. by email, telephone, text, etc.) or in case of audit where my/our account/s is/are chosen as sample for account balance confirmation.
