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Pensio Purchase Power — Privacy Statement and Consent

By agreeing to this this Privacy Consent, you consent to us; Pensio Purchase Power (Canada) Corporation (“PPG”)  the entity identified in this consent, using, holding and disclosing personal and credit information about you. You can find out more about how we deal with your privacy by viewing our privacy policy. If you do not provide us with the consent or provide us with your personal information we may not be able to provide you with a Guarantee or provide other services.

We (PPG, and the Realtor taking your application may collect, use, hold and disclose personal and credit information about you for the purposes of arranging or providing the Deposit Guarantee product to you, managing and administering that Guarantee, investigating or managing any claim in relation to the Guarantee, direct marketing or products and services by us and managing our relationship with you. Credit Information includes the type and amount of credit provided to you, default information (including overdue payments) and court information. Personal Information includes any information from which your identity is apparent.

You may gain access to the personal information that we hold about you by contacting us. Our privacy policy contains information about how you may access or seek correction of your personal information and credit information, how we manage that information and our complaints process. It also contains information on “notifiable matters” including things such as the information we use to access your creditworthiness, what happens if you fail to meet your credit obligations or commit a serious credit infringement, your right to request that credit reporting bodies (CRBs) not use your credit information for the purpose of pre-screening credit offers, and your right to request a CRB not to use or disclose credit information about you if you believe you are a victim of fraud.


Consumer And Commercial Credit Information

We may exchange your commercial and consumer credit information with entities listed below to assess an application for consumer or commercial credit and manage that credit. In particular, we can obtain credit information about you from a CRB providing both customer and commercial credit information.


Exchange Information With Credit Providers

We may exchange personal and credit information with credit providers for the purpose of assessing your creditworthiness, credit standing, and credit history or credit capacity.


Exchange Information With Guarantors

We may exchange your personal and credit information with any person who proposes to guarantee or has guaranteed payment of any debt owed to us by you of any products we have provided to you.


Exchange Information

We may exchange personal and credit information with the following types of entities, some of which may be located overseas. Please see our privacy policy for more information.

  • Finance brokers, mortgage managers, and persons who assist us to provide our products to you.

  • Financial consultants, accountants, lawyers and advisers.

  • Any industry body, tribunal, court or otherwise in connection with any complaint regarding the approval or management of your loan — for example if a complaint is lodged about us or the lender.

  • Loss assessors, claims investigators, reinsurers or other insurance companies.

  • Any person where we are required by law to do so.

  • Any of our associates, related entities or contractors.

  • Your referees, such as your employer, to verify information you have provided.

  • Any person considering acquiring an interest in our business or assets.

  • Any organization providing online verification of your identity.


Customer Identification

We may disclose personal information about you to an organization providing verification of your identity, including on-line verification of your identity. We may exchange your personal and credit information with the following credit reporting bodies:

  • TransUnion Canada

  • Equifax Canada

  • MPAC Canada

  • AVM company

Important Facts

  • You must answer all questions truthfully. Ambiguous or incomplete answers may jeopardize the approval of your Application. We may ask you for further information relating to this Application.

  • Pensio Purchase Power (Canada) Corporation provides the payment payable under the Guarantee. Any agent arranging a Guarantee on behalf of the Guarantor may receive a commission.

  • You must read and understand the terms printed on the Guarantee as soon as it is issued to you. If you are not satisfied with the wording printed on the Guarantee (“Guarantee Wording”) you must return the original unused Guarantee to Deposit Power within 14 days of issue for a partial refund (see the section titled “Refund Policy” below). If you do not notify us within the 14-day period, you will be deemed to have accepted the Guarantee Wording.

  • We recommend that you show the Application (including the Counter Indemnity), and the Guarantee Wording to your lawyer.

Refund Policy

For pre-construction sales, the Purchase Power fee is only refundable during the rescission period. If within 10 days of signing the Agreement of Purchase and Sale, the Purchaser provides in writing to the Vendor notice of termination of the Agreement of Purchase and Sale, then the Pensio Purchase Power fee shall be returned to the Purchaser in full, without any deduction. Once the Agreement of Purchase and Sale becomes firm, there are absolutely NO REFUNDS.

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