Customer Information Terms
Collection, Use and Disclosure of Customer Information
These Terms set out how we may collect, use, disclose and process Customer Information. In consideration of the Bank providing or potentially providing services to you, you consent to the collection, use and disclosure of information on the terms set out in these Terms by the Bank.
In these Terms:
“we”, “us”, “our”, or the “Bank”, means Lloyds Bank Corporate Markets plc (including its respective branches, successors, assigns and transferees).
“Accounts” means the accounts opened and maintained in your name or on your behalf by the Bank.
“Customer Information” means any information with respect to you, any Account or any Service including without limitation any customer information or any information relating to you or your financial condition or to the beneficial owners of any Account or Service and includes customer information as defined in the Banking Act, Chapter 19 of Singapore.
“Lloyds Banking Group” means Lloyds Banking Group plc and its related corporations (including, without limitation, Lloyds Bank plc) and any head office, branch, or representative office of any of the foregoing entities.
“related corporations” has the meaning ascribed to it in the Companies Act, Chapter 50 of Singapore.
“Related Individual”means any individual whose information has been provided to the Bank by you or on your behalf, including any officer, employee, authorised signatory, director, partner, trustee, person granted executive authority, shareholder, agent, advisor and other person who may have a legal or beneficial interest in your business.
“Representatives” means the Bank’s agents, advisors, sub-contractors, or related corporations or any member of the Lloyds Banking Group.
“Services” means the facilities and services provided or to be provided by the Bank or any member of the Lloyds Banking Group to you or at your request or any transactions or dealings between you and the Bank or any member of the Lloyds Banking Group.
Collection of Information
You and your representatives may provide Customer Information to the Bank and its Representatives. The Bank and its Representatives may otherwise collect information regarding you and your Related Individuals.
Purposes for Collection, Use and Disclosure of Customer Information
The purposes for which Customer Information may be collected, used and disclosed may include:
a) to process any applications for Accounts or Services, including assisting third parties who introduced you to the Bank or any member of the Lloyds Banking Group with their accounting and administration;
b) administering, maintaining, providing and carrying out operations of the Accounts and Services provided to you and managing your relationship with Lloyds Banking Group;
c) facilitating, executing, providing, completing, confirming, fulfilling or carrying out (i) any dealing between the Bank or any member of the Lloyds Banking Group and you, (ii) any facility, (iii) any agreement entered into between the Bank or any member of the Lloyds Banking Group and you, or (iv) any transaction effected by the Bank or any member of the Lloyds Banking Group with, for or on your behalf, which may involve sharing transactional details with data processing companies or any other service providers, agents or contractors;
d) carrying out, processing, investigating or responding to any instructions, requests, enquiries and complaints received from you or to any claims or disputes received from any person;
e) conducting credit checks, creating and maintaining credit and risk models, and ensuring your ongoing creditworthiness;
f) undertaking financial reviews, customer modelling or transactional analysis;
g) verifying your identity or the identity of your representatives or your Related Individuals;
h) managing, updating, consolidating, and improving the accuracy of the Bank’s records;
i) arrears and debt recovery activities;
j) to manage the infrastructure and business operations of the Bank or any member of the Lloyds Banking Group, and comply with policies and procedures that may be required by law or regulation that may have been implemented by the Bank or any member of the Lloyds Banking Group from time to time;
k) assessing lending and insurance risks across the Lloyds Banking Group;
l) facilitating the assignment, transfer, investment in, sale or purchase of any of the assets or business of the Bank or any member of the Lloyds Banking Group, or in connection with any reorganisation or restructuring of the Bank or the Lloyds Banking Group;
m) fraud and crime detection, prevention, and prosecution;
n) meeting the legal, regulatory, licensing, reporting, risk management, audit, record keeping and financial obligations of the Bank or any member of the Lloyds Banking Group;
o) complying with any applicable rules, laws or regulations, regulatory policies, industry codes of practice or guidelines, judgments, decrees, orders, directions or requests issued by any court, legal or regulatory bodies, including but not limited to rules and regulations relating to anti-money laundering and countering the financing of terrorism and the carrying out of audit checks, surveillance and investigation;
p) for any purpose which directly relates to any of the foregoing; and
q) for any purposes which you have otherwise agreed to with the Bank.
Disclosure of Customer Information
You unconditionally consent to the disclosure and transfer of any Customer Information to the following persons (whether situated in Singapore or elsewhere) (the “Permitted Recipients”) by the Bank (and any of its officers):
a) members of the Lloyds Banking Group, including the head office and any branches, representative offices, subsidiaries or related corporations of the Bank, and their respective employees, officers and agents;
b) any person to (or through) whom the Bank or any member of the Lloyds Banking Group:
i) assigns, novates or transfers (or may potentially assign, novate or transfer) all or any of its rights and obligations pursuant to any of the Accounts or Services or proposed Accounts or Services;
ii) enters into (or may potentially enter into) (A) any participation or sub-participation in relation to, or (B) any other transaction under which payments are to be made by reference to, or (C) any transaction in connection with any contractual protection or hedging with respect to your obligations under, any Accounts or any Services or proposed Services granted by the Bank or any member of the Lloyds Banking Group;
iii) enters into (or may potentially enter into) any contractual or other arrangement in relation to any of the Accounts or Services or any facility (including, without limitation, any guarantors, sureties and third party security providers) or any member, partner, director or shareholder of any obligor or borrower;
c) professional advisers, consultants, service providers or independent contractors to, or insurers or agents of, or introducers to, the Bank or any other member of the Lloyds Banking Group;
d) any person to whom the Bank or any member of the Lloyds Banking Group outsources the performance of any functions or activities of the Bank or any member of the Lloyds Banking Group (including, without limitation, any service provider engaged by the Bank or any member of the Lloyds Banking Group to perform outsourced functions), or who is a broker, banker, attorney, depository, custodian, manager, or nominee selected or used by the Bank or any member of the Lloyds Banking Group, or any other person used or appointed by the Bank or any member of the Lloyds Banking Group for the purposes of effecting or carrying out any transaction, function or activity;
e) any person pursuant to the procuring or management of data relating to any of the Accounts or Services or proposed Accounts or Services or any facility or proposed facility or any customer;
f) any credit rating agency, credit reference agency or credit bureau;
g) any person whom the Bank or any member of the Lloyds Banking Group believes in good faith to be you or an authorised person acting on your behalf;
h) any swap data repository, trade repository, global trade repository, reporting agent, central clearing party or clearing house or clearing member of such entity or clearing broker;
i) any securities, futures, derivatives or other exchange, multilateral trading facility or other trading facility, platform or system, or communication network or auction facility on which transactions are executed or traded;
j) any financial institution including without limitation, correspondent and remittance institutions with which you have or may have dealings with and any person for purposes of wire transfer;
k) any government agency, authority, regulator, exchange, clearing house, market or depository, or any person to whom such entity has ordered or requested such disclosure to be made (whether or not such order or request has the force of law) or any person to which disclosure is required under any law, regulation, directive, bye-law, guideline or rule of any nature issued by any such entity (whether or not it has the force of law);
l) any person in compliance with any order, notice or request of any court of any jurisdiction, any arbitral tribunal or pursuant to any dispute resolution or mediation proceedings in any jurisdiction;
m) any business partner, investor, assignee or transferee (or potential business partner, investor, assignee or transferee) in connection with any business transaction (including without limitation any merger, acquisition or debt or asset sale) involving the Bank or any other member of the Lloyds Banking Group;
n) any person pursuant to or in connection with any actual or proposed restructuring or reorganisation of the Bank or any other member of the Lloyds Banking Group;
o) any person who is your receiver, liquidator, executor or administrator and their legal advisers;
p) any person to whom the Bank or any member of the Lloyds Banking Group is under a duty to disclose; and
q) any person to whom such disclosure is considered by the Bank or any member of the Lloyds Banking Group to be required for the proper administration of the Accounts or Services; and
r) any person permitted by law or regulation, and you also agree to any such Permitted Recipient disclosing any Customer Information to other Permitted Recipients.
Transfer of Customer Information Outside of Singapore
You agree that the Bank and any of its Representatives may outsource from time to time operational or business functions to any third party service provider (which may be a member of the Lloyds Banking Group or a third party). Such third party service provider may be in Singapore or outside Singapore. Without prejudice to the other provisions of these Terms, you agree that such outsourcing may involve the transfer of Customer Information outside Singapore and you agree to authorise access by such service provider to process or deal with your Customer Information. You acknowledge that such service provider may, in certain circumstances, be required to, and you agree that it may, disclose information (including Customer Information) to third parties. Such circumstances include but are not limited to, the service provider disclosing such information to a sub-contractor for the purposes of providing the service, or being compelled to disclose such information pursuant to law or regulation, a court order, police investigations, requests or requisitions by regulators, and government agencies and authorities.
Bank and Representatives’ Rights
The Bank’s and its Representatives’ rights to collect, use and disclose Customer Information under these Terms:
a) shall be in addition to and shall not be in any way prejudiced or affected by any other agreement, expressed or implied, between you and the Bank and any of its Representatives in relation to any Customer Information nor shall any such other agreement be in any way prejudiced or affected by these Terms;
b) are in addition to and without prejudice to all other rights the Bank and any of its Representatives may have under any law or regulation; and
c) will continue even if any Account is closed, any Service ceases to be provided by the Bank or any of its Representatives to you or any agreements between you and the Bank or any of its Representatives are terminated.
Update of Customer Information
You warrant and represent that all information provided to the Bank is true, accurate and complete and you agree to notify the Bank in writing promptly upon any changes in Customer Information previously provided to the Bank.
a) These Terms shall be governed by and construed in accordance with the laws of Singapore and shall be subject to the non-exclusive jurisdiction of the Singapore courts.
b) Any member of the Lloyds Banking Group may, in its own right, enforce and enjoy the benefit of any term of this letter.
c) By entering into any transaction with, or using any product or service from, the Bank, you irrevocably and unconditionally consent to the Bank and any of its officers and Representatives collecting, using and disclosing Customer Information on the terms set out in these Terms.
Lloyds Bank Corporate Markets plc, Singapore Branch. Registered Office: 138 Market Street #21-01 CapitaGreen, Singapore 048946. Registered in Singapore UEN: T18FC0067A. Licensed and regulated by the Monetary Authority of Singapore. Your contractual counterparty will be Lloyds Bank Corporate Markets plc if you enter into any product or transaction with us in Singapore.