In recent years, major hacking events from the heartbleed vulnerability in 2014, to the WannaCry ransomware attack earlier this year have highlighted the need for better cybersecurity. More than previous events, however, the recent Equifax data breach illustrates the extent of this problem, and the threat it represents to businesses all over the world.
It’s common knowledge that business owners need to cultivate a good relationship with their bank if they hope to succeed in the long term. What many entrepreneurs aren’t aware of, and need to know, is that they might well need another financial relationship to secure their competitive edge. In cash flow situations that banks aren’t ideally equipped to handle for their clients, they’ll often refer business owners to an alternative financial institution, like Fifo Capital.
Protecting the interest of small and medium sized businesses is a critical part of maintaining a healthy Australian economy. Small businesses employ nearly half of the Australian workforce, with medium sized enterprises bringing that number up to two-thirds. Despite this, entrepreneurs have long faced an uphill battle when it comes to maintaining stable cash flow and securing full and timely payment for goods and services rendered.
Underpayment issues have plagued Australian workers for years. High profile cases of wage fraud involving corporate giants like 7-Eleven, Caltex, and United Petroleum have pushed the issue into the public eye. Now, some tough changes have been made to the Fair Work Act that will increase penalties on underpaying businesses ten-fold. Further, they will make businesses, and especially franchisors, much more vulnerable to underpayment claims. This is intended to incentivise a more proactive approach to fair employee compensation, and to prevent businesses from benefiting from deliberate wage fraud.
Cash flow problems are by far the most common cause of small business failure. Avoiding and managing those issues is one of the most important responsibilities that entrepreneurs have, and the one that they’re often most poorly prepared to deal with. Careful accounting and strategic financial planning are critical to any business’ survival, but there are issues that even this won’t help to address.
Though the 2008 global financial crisis didn’t drive Australia into recession, the evolution of banking practices since then have affected how banks interact with their small business clients. Most notably, large financial institutions have competed with each other to integrate technology that increasingly automates and streamlines their services. In many cases, this has meant expanding the capabilities of online banking to better serve small business customers. While many of these changes have had positive effects for small business, they’ve also left some notable gaps.
Businesses need financing for a wide variety of reasons, whether it’s to upgrade equipment, acquire stock, increase their production capacities, or to expand into a new location. Without third party financial support, growth can quickly become next to impossible. Unfortunately, getting access to those funds isn’t as simple as showing up and asking for them.
The capacity for growth that a business has is traditionally limited by the amount of investment it can apply to that purpose. Franchising is a great way to get around this issue quickly by harnessing the capital and labour of franchisees on behalf of your brand. The franchisee invests the capital for the new franchise, while also accepting most of the risk associated with that investment. Financially, this makes growth a significantly lower-risk endeavour for the franchisor than it might otherwise be. Despite that, however, businesses can’t afford to let their franchises fail.
When Brian Chesky agreed to rent out a few air mattresses in his apartment in 2007 to help make ends meet, he and his roommate, Joe Gebbia, figured they might be onto something. Not even in their wildest dreams, though, did they expect to be launching a $30 billion dollar enterprise. Now worth over $3.8 billion dollars, it’s difficult to picture the CEO of Airbnb as a young industrial designer looking for side-hustles to come up with rent money. Ultimately, however, it was exactly that situation that inspired the idea behind Airbnb, and that continues to drive the success of the business today.
Every business owner dreams of a time when they’ll finally be able to focus all their efforts on their customers and on growing their business. However, something always seems to get in the way. Equipment breaks down, suppliers go under, sales drop unexpectedly, and invoices don’t get paid on time. These interrupt your business’ cash flow, and can quickly lead to other, even more serious problems. Before you know it, a financial problem can lead to personnel disruptions, a decline in product quality, client retention issues, and eventually bankruptcy.
© 2017 Fifo Capital International. All Rights Reserved.
“I had spent the best part of 20 years in finance before joining Fifo Capital, but never had any exposure to factoring/debtor finance. So when I chose to move into business ownership in a new area of finance to me, a franchise made sense. You are working with experienced people who have a vested interest in your success.
The decision to join Fifo Capital has delivered beyond my wildest dreams. On the earnings front, by my sixth month in business I had already exceeded my goals for the first year and I hit the $1million mark in finance written for the month, in my 12th month. The average monthly business I have written for the last 12 months is $2.7M.
It has absolutely exceeded all expectations. We have changed our lives – the hours we work, a house by the beach. The buy in cost for us has been returned many times over.
But in saying that you only get out of it what you put into it. The fact that I had to go out and build the business was appealing. That’s the idea of business ownership; being independent and growing your own business. You do have to be a motivated self-starter in the Fifo Capital business, but the support is there when you need. The model, processes and support is fantastic.
Fifo Capital delivers and the only cap on your earnings is how much effort you want to put in.”
We help your clients in two equally important ways: (1) Through the fast (24 to 48 hour) delivery of required funds; and (2) By leading every transaction with one-on-one expert consultancy.
Designed for speed of response and flexibility, and supported by a comprehensive understanding of the security challenges businesses encounter throughout various stages of development and maturity, our finance solutions are designed for finance needs between one and 12 months.
Invoice Finance
Suitable for clients requiring assistance for ad hoc cash flow challenges that demand fulfilment within 24 to 48 hours. No fixed term contracts; secured by the value of the invoice/s; and for finance periods between one and three months. Click here for our Invoice Finance Solution Guide.
Business Loans
Suitable for clients who have a growth or operational need that requires a capital boost for a period of three to 12 months. Typically, a client has reached their traditional security limit with their bank and is seeking alternative options. Through analysis of business-performance, we identify a complement of security that appropriately services the finance required. Click here for our Business Loan Product Guide.
Payment Plans
Suitable for clients who either provide large one-off services or products to clients, or who want to attract new clients through cash-flow-friendly payment options. Fifo Capital payments plans enable a client to offer their customers a payment schedule for between three and 12 months. Click here for our Payments Plan Solution Guide.
We also provide:
Foreign Exchange
Fifo Capital partners with leading international payments specialists HiFX to provide clients with a simple, secure way to send and receive international payments at preferential foreign exchange rates. Services include: Exchange Contracts; Spot and Forward; Multi-Currency Accounts; Market Orders and Currency Options. Click here to find out more.
With over 10 years supporting businesses, we know the value of expert, one-on-one consultancy. While new technology has spurred the advent of finance-online, we’re committed to pairing clients with a finance expert. Of course, we’ve embraced technology to hasten our processes and response times, and to continually enhance the experience for our clients. But the complexities of business finance, do and will continue to, require one-on-one interaction with an expert to achieve the best result, specific to the client’s needs. The value is in the results.
Fifo Capital Partners and their clients are supported by a range of benefits, including complimentary copies of Headway Magazine, and access to Fifo Capital Knowledge Centre assets.
The Fifo Capital quarterly magazine, which explores a range of relevant business themes at a macro level as well as practical insight for business owners. Accredited Partners are provided the opportunity to co-brand the magazine as a client-value add publication and for new business development marketing.
Access the comprehensive knowledge-base of client-facing finance guides, eBooks and other resources. Incorporate, professional, relevant content in your regular client and prospect communications.
Our finance experts work in concert with professional services partners – accountants, bank managers, business brokers – to identify the most appropriate solution for client needs.
To the extent that you wish to and which is appropriate for the client, we work with you to identify the short-term solution that supports longer terms business objectives.
We understand the need for immediacy and fast response. Whether a simple query or a transaction, we are available for your client’s needs on the day they arise.
We respect the relationship you have with your client and support that via open communication throughout.
If you ever need to review potential solutions, or talk through the tricky detail of a client scenario, we’re an expert sounding board. Our expertise is freely offered, complimentary and with no-obligation attached.
Fifo Capital provides short-term finance for business. Clients use our services to: (1) solve immediate cash flow challenges, and (2) to access capital needed to secure new opportunities or for business operations. Since 2004, we have established more than 70 offices across New Zealand and Australia, and provided business owners with over $850 million in growth capital.
Central to the solutions we provide is one-on-one consultancy. Our network of finance experts, meet with clients and spend time understanding their business in order to deliver a purpose-fit solution; a solution that solves the immediate finance need, and which is suitable for both the short and longer term success of the business. The complexities of business finance demand the one-on-one approach, and we continually see the value of this in the success of our clients.
Clients seek the assistance of Fifo Capital for a short period of time when their bank is unable to help. Often this is due to their finance needs outpacing the traditional security options available; or where their need requires a response time that cannot be met by their bank. As Fifo Capital finance solutions are designed for these immediate short-term requirements, we can ‘solve the gap’ quickly for the window of time that the client falls outside of their bank’s criteria, for the specific finance need. Working in tandem with mainstream facilities ensures that clients can access funds for short-term business needs, without impacting the ongoing relationship with their bank.
Very few businesses faced with an immediate finance need are best served by a vanilla solution. Our experience has highlighted that the value of a business finance expert tailoring a solution to a client’s specific needs is immeasurable. Our business finance experts are highly experienced, and have a wealth of knowledge about the mechanics, complexities and unique challenges and opportunities of different industries. This knowledge, coupled with one-on-one consultancy, means our experts are adept at quickly identifying purpose-fit finance solutions for clients.
Please read these Terms & Conditions before using this site
This terms of use (together with the documents referred to in it) tells you the terms of use on which you may make use of our website www.fifocapital.com.au (our site). Use of our site includes accessing, browsing, or submitting information through our site.
Please read these terms of use carefully before you start to use our site, as these will apply to your use of our site.
By using our site, you confirm that you accept these terms of use and that you agree to comply with them. If you do not agree to these terms of use, you must not use our site.
Other applicable terms
These terms of use refer to the following additional terms, which also apply to your use of our site.
Our Privacy Policy which sets out the terms on which we process any personal data we collect from you, or that you provide to us. By using our site, you consent to such processing and you warrant that all data provided by you is accurate.
Our Cookie Policy which sets out information about the cookies on our site.
Our Anti-Spam Policy which sets out information about our anti-spam endeavours.
Information about us
www.fifocapital.com.au is a site operated by Fifo Capital International Ltd (“We”). We are registered in New Zealand under company number 3856796 and have our registered office at 170 Parnell Road, Parnell, Auckland 1151, New Zealand. Our main trading address is 135 Parnell Road, Parnell, Auckland 1151, New Zealand.
Changes to these terms
We may revise these terms of use at any time by amending this page. Please check this page from time to time to take notice of any changes we made, as they are binding on you. This terms of use was last updated on 21 July 2014.
Changes to our site
We may update our site from time to time, and may change the content at any time. However, please note that any of the content on our site may be out of date at any given time, and we are under no obligation to update it.
We do not guarantee that our site, or any content on it, will be free from errors or omissions.
Accessing our site
Our site is made available free of charge.
We do not guarantee that our site, or any content on it, will always be available or be uninterrupted. Access to our site is permitted on a temporary basis. We may suspend, withdraw, discontinue or change all or any part of our site without notice. We will not be liable to you if for any reason our site is unavailable at any time or for any period.
You are responsible for making all arrangements necessary for you to have access to our site.
You are also responsible for ensuring that all persons who access our site through your internet connection are aware of these terms of use and other applicable terms and conditions, and that they comply with them.
Intellectual property rights
We are the owner or the licensee of all intellectual property rights in our site, and in the material published on it. Those works are protected by copyright laws and treaties around the world. All such rights are reserved.
You may print off one copy, and may download extracts, of any page(s) from our site for your personal use and you may draw the attention of others within your organisation to content posted on our site.
You must not modify the paper or digital copies of any materials you have printed off or downloaded in any way, and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.
Our status (and that of any identified contributors) as the authors of content on our site must always be acknowledged.
You must not use any part of the content on our site for commercial purposes without obtaining a licence to do so from us or our licensors.
If you print off, copy or download any part of our site in breach of these terms of use, your right to use our site will cease immediately and you must, at our option, return or destroy any copies of the materials you have made.
No reliance on information
The content on our site is provided for general information only. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up-to-date.
Limitation of our liability
Nothing in these terms of use excludes or limits our liability for death or personal injury arising from our negligence, or our fraud or fraudulent misrepresentation, or any other liability that cannot be excluded or limited by law.
To the extent permitted by law, we exclude all conditions, warranties, representations or other terms which may apply to our site or any content on it, whether express or implied.
We will not be liable to any user for any loss or damage, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, even if foreseeable, arising under or in connection with:
– use of, or inability to use, our site; or use of or reliance on any content displayed on our site;
– loss of profits, sales, business, or revenue;
– business interruption;
– loss of anticipated savings;
– loss of business opportunity, goodwill or reputation; or
– any indirect or consequential loss or damage.
If you are a consumer user, please note that we only provide our site for domestic and private use. You agree not to use our site for any commercial or business purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
We will not be liable for any loss or damage caused by a virus, distributed denial-of-service attack, or other technologically harmful material that may infect your computer equipment, computer programs, data or other proprietary material due to your use of our site or to your downloading of any content on it, or on any website linked to it.
We assume no responsibility for the content of websites linked on our site. Such links should not be interpreted as endorsement by us of those linked websites. We will not be liable for any loss or damage that may arise from your use of them.
Viruses
We do not guarantee that our site will be secure or free from bugs or viruses.
You are responsible for configuring your information technology, computer programs and platform in order to access our site. You should use your own virus protection software.
You must not misuse our site by knowingly introducing viruses, trojans, worms, logic bombs or other material which is malicious or technologically harmful. You must not attempt to gain unauthorised access to our site, the server on which our site is stored or any server, computer or database connected to our site. You must not attack our site via a denial-of-service attack or a distributed denial-of service attack. By breaching this provision, you would commit a criminal offence under the Computer Misuse Act 1990. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our site will cease immediately.
Linking to our site
You may not link to our home page without our prior written consent.
Third part links and resources in our site
Where our site contains links to other sites and resources provided by third parties, these links are provided for your information only.
We have no control over the contents of those sites or resources.
Applicable law
These terms of use, its subject matter and its formation (and any non-contractual disputes or claims) are governed by English Law. We both agree to the exclusive jurisdiction of the courts of England.
Contact us
To contact us, please mail to Fifo Capital International Ltd, L10, 499 St Kilda Road, Melbourne VIC 3004, or email [email protected]
Thank you for visiting our site.
What is spam?
In the context of electronic messaging, spam refers to unsolicited, bulk or indiscriminate messages, typically sent for commercial purposes. “Electronic messaging” covers emails, instant messaging, SMS and other mobile phone messaging, but does not cover normal voice-to-voice communication by telephone.
An electronic message may constitute spam if it:
– is commercial in nature – i.e. it could be construed as offering a commercial transaction, such as goods or services for sale, or merely directing the recipient to a location where a commercial transaction could take place – is sent without the prior consent of the recipient;
– fails to include accurate information about the sender; and
– does not include a functional unsubscribe facility.
Fifo Capital will take all necessary and reasonable steps required under relevant current Spam legislation to ensure that any commercial electronic messages sent to you do not constitute spam.
Consent
Fifo Capital will take reasonable steps to ensure that it has obtained your express consent prior to sending you electronic commercial messages about Fifo Capital’s products and services. Express consent may come in various ways, including subscribing to our mailing list, filing in a form, ticking a consent box to receive advertising or messages on our website, or consenting over the phone.
Where it is impracticable to obtain your consent before sending electronic commercial message to you, we may infer that you have consented to receiving electronic commercial message. Inferred consent can occur:
– via an existing business or other relationship with Fifo Capital, and where there is reasonable expectation of receiving commercial electronic messages; or
– via conspicuous publication of a work-related electronic address; and
– it is accessible to the public, or a section of the public
– the subject of the message is directly related to the role or function of the recipient; and
– the address is not accompanied by a statement saying no commercial messages are wanted.
Identification
Any commercial electronic message sent by Fifo Capital will include a clear and accurate identification information about Fifo Capital, the sender of the message and how we can be contacted. Fifo Capital will take reasonable steps to ensure that the identification information about Fifo Capital is accurate for a period of 30 days after the day on which you receive the electronic commercial message.
Unsubscribing Policy
Under Spam legislation, every commercial electronic message must contain a functional and legitimate ‘unsubscribe’ facility. This is an electronic address the recipient can use to tell the sender they do not wish to receive messages.
Fifo Capital will take reasonable steps to ensure that:
– all commercial electronic messages sent by us will include a functional way for the message’s recipient to indicate that they wish to unsubscribe from any future messages;
– our unsubscribe links in any electric commercial message remain functional for at least 30 days after the original commercial electronic message was sent;
– it allows the unsubscribe message to be sent to whoever authorised the sending of the message;
the unsubscribe instructions are presented in a clear and conspicuous way;
– a request to unsubscribe is honoured within five-(5)working days;
unsubscribing is at low or no cost, to the recipient; and
If you receive a message from Fifo Capital that is not in accordance with the above, contact us and the matter will be promptly investigated and resolved.
Fifo Capital Unsubscribe Process
The e-Marketing systems Fifo Capital uses for electronic communication allow recipients the option to automatically unsubscribe from any electronic commercial message.
All manual unsubscribe requests go through the Marketing Manager or Operations Manager (as a secondary person). The necessary details for unsubscribing from any electronic commercial message sent by Fifo Capital are as follows:
SMS: Subject Line: ‘Unsubscribe’
Mail: Subject Line: ‘Remove’
Post To: The relevant office as listed on the email
Email: Subject Line: ‘Remove’
Fax: Subject Line: ‘Remove’
Fifo Capital Marketing
Queries that are made with Fifo Capital through our marketing channels are gathered and kept confidentially. Fifo Capital may use some of this information to market its current and new products to customers. All marketing sent by Fifo Capital allows the recipient to opt out (unsubscribe) at no cost. If the recipient chooses to exercise that right they will be removed from any further marketing communication from Fifo Capital. Fifo Capital will not use electronic address harvesting software, or lists which have been generated using software, for the purposes of sending unsolicited commercial electronic messages.
Contact Fifo Capital
Please contact our Anti-Spam officer at [email protected] if you have any concerns or complaints about this policy or about our use of personal information or other privacy issues.
Our site uses cookies to distinguish you from other users of our site. This helps us to provide you with a good experience when you browse our site and also allows us to improve our site. By continuing to browse our site, you are agreeing to our use of cookies.
A cookie is a small file of letters and numbers that we store on your browser or the hard drive of your computer if you agree. Cookies contain information that is transferred to your computer’s hard drive.
To find out more about cookies, including how to see what cookies have been set and how to manage and delete them, visit www.allaboutcookies.org.
You block cookies by activating the setting on your browser that allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or parts of our site.
If you have any questions or comments regarding this Cookies policy, please email [email protected]
Fifo Capital Australia Pty Ltd (ACN 121 427 183) and the other companies referred to below in the definition of “we”.
This document sets out our policy on the management of personal information which we have about individuals. Those individuals include clients to whom we may provide or may have provided a facility, guarantors of both individual and company clients and individuals who may provide a guarantee and individuals who are or become customers of our clients.
Our privacy assurance to you
Your privacy has always been important to us. As our client, or someone in a business relationship with our client, we respect your right to be aware of who has information about you, what they are doing with it and why, and who else they are sharing it with. We have adopted a privacy compliance culture that cements this relationship with you. Its foundation is the Privacy Act 1988 (as amended by the Privacy Amendment (Enhancing Privacy Protection) Act 2012), the Privacy Regulation 2013 and the Credit Reporting Privacy Code. This privacy policy is the APP privacy policy which we must have in accordance with Australian Privacy Principle 1.3 and incorporates our credit reporting policy which we must have in accordance with section 21B(3) of the Privacy Act 1988.
Overview
This privacy policy explains how we manage personal information which is not credit information or credit eligibility information. In particular it explains, in relation to that personal information:
This privacy policy also explains how we manage credit information and credit eligibility information. In particular it explains, in relation to that information:
The kinds of personal information we collect and hold
We collect and hold credit information about individuals who are clients, guarantors, debtors and associates. This information includes:
We obtain credit reporting information about individuals who are clients, guarantors, debtors and associates from credit reporting bodies. Credit reporting information includes:
We only obtain credit reporting information from credit reporting bodies to the extent we are entitled to obtain it under the Privacy Act 1988. We might, for example, need to obtain the individual’s prior authorisation.
We may disclose credit information (such as identification information) about an individual to a credit reporting body. The credit reporting body may include that information in the reports it provides to other credit providers.
We disclose credit information to the following credit reporting body:
Name: Veda Advantage Information Services and Solutions Limited
Website: www.veda.com.au
Mail: PO Box 964
NORTH SYDNEY NSW 2059
That credit reporting body is required to have a policy which explains how it will manage credit-related personal information. If an individual would like to read the policy of the credit reporting body he or she should visit the credit reporting body’s website and follow the “Privacy” links, or the individual can contact the credit reporting body direct for further information.
Our policy about the management of credit related personal information is contained in this privacy policy but if an individual would like to receive it as a separate document he or she can request a copy by contacting our Privacy Contact Officer at the address specified in paragraph 7 below.
An individual has the right to request that the credit reporting body exclude his or her credit reporting information from any permissible direct marketing activities we may ask it to perform.
The individual also has the right to request that the credit reporting body not use or disclose his or her credit reporting information if the individual believes that he or she has been, or is likely to be, the victim of fraud (for example, the individual suspects someone is using his or her identity details to apply for credit). The individual must contact the credit reporting body direct should this be the case.
The personal information, other than credit information and credit reporting information, we collect and hold varies depending on the person we are dealing with and the reason why we are dealing with them. We collect this general personal information from individuals who are clients, guarantors, debtors, associates, prospective employees, contractors, suppliers, brokers, introducers, merchants, agents, professional advisers, mercantile agents, mailing houses, call centre operators, archivers and service providers. This information will generally include the individual’s name and contact details. We will only collect sensitive information about an individual with the individual’s consent or when permissible under Australian law.
Under various laws we will be (or may be) authorised or required to collect personal information about an individual. These laws include the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, Personal Property Securities Act 2009, Corporations Act 2001, Autonomous Sanctions Act 2011, Income Tax Assessment Act 1997, Income Tax Assessment Act 1936, Income Tax Regulations 1936, Tax Administration Act 1953, Tax Administration Regulations 1976, A New Tax System (Goods and Services Tax) Act 1999 and the Australian Securities and Investments Commission Act 2001 as those laws are amended and includes any associated regulations.
How we collect personal information
We collect personal information, other than credit eligibility information, about individuals in a variety of ways. For example, we may obtain the information from the individual or from persons acting on the individual’s behalf. When it is possible and practical we will collect the information direct from the individual. When it is not practical or reasonable to do so we will collect the information from a third party. The third party could be an authorised representative (such as a broker, agent, accountant or lawyer), another financial institution, a referee, an employer or a government body. When the individual is a debtor or an associate we may obtain the information from the client. An entity included in the definition of we can disclose personal information to any other entity included in the definition of we and those other entities can collect it.
The credit eligibility information is obtained from a credit reporting body.
How we hold credit information and credit eligibility information
We take all reasonable steps to ensure that an individual’s personal information which we hold is protected from misuse, interference or loss and from unauthorised access, modification or disclosure.
We do this by having physical, electronic and procedural safeguards which protect the personal information we hold. For example, the personal information is stored in secure office premises or in secure archiving facilities and logins and passwords are required to access electronic databases. Our staff are required to maintain the confidentiality of personal information and access to personal information is restricted to persons who require access to perform their duties.
The purposes for which we collect, hold, use and disclose personal information
We collect, hold, use and disclose credit information and credit eligibility information on individuals for purposes permitted by law which are reasonably necessary for our business activities. Those purposes include:
We do not usually derive any CP derived information from credit reporting information disclosed to us by a credit reporting body.
We collect, hold, use and disclose personal information which is not credit information or credit eligibility information so that we can manage and administer the facilities which we provide.
To provide our facilities in the most cost effective and efficient way we may decide to utilise the services of others. If this requires that we disclose personal information we will require those persons to respect your right of privacy.
Personal information may also be used or disclosed to tell an individual about products or services that may be of interest to that individual. If the individual does not want his or her personal information used for these direct marketing purposes the individual should tell us. He or she can “opt-out” of direct marketing by sending an e-mail to [email protected] or by writing to us at:
Privacy Contact Officer
Fifo Capital Australia Pty Ltd
Level 16, 390 St Kilda Road
MELBOURNE VIC 3004
One entity included in the definition of we may provide personal information to another person included in the definition of we and that recipient may, in turn, collect, hold, use and disclose that personal information as outlined in this privacy policy. For example, one of those entities (or two or more of those entities) may provide a facility to the client and receive offers from the client to purchase an account owed by a debtor. Other entities included in the definition of we may assist by assessing the client’s application for a facility, assessing the guarantor’s offer of a guarantee, assessing the account which is offered for sale and assisting in the administration of the facility and in the enforcement of the facility and any supporting guarantee or security.
How an individual may access personal information
An individual may access personal information (including credit eligibility information) about the individual which we hold. The individual can obtain that access by contacting our privacy contact officer as follows:
Telephone: 1300 852 556
E-mail: [email protected]
Mail: Privacy Contact Officer
Fifo Capital Australia Pty Ltd
Level 16,
390 St Kilda Road
MELBOURNE VIC 3004
We will need to verify the individual’s identity before giving access. We will usually provide the requested personal information within 30 days of receiving the request. There is no charge to make a request but we may levy an administration fee for providing access.
If there is a reason why we do not make the requested personal information available we will provide our reason in writing.
How an individual may seek the correction of personal information
If an individual considers that any personal information which we hold about the individual is incorrect in any way the individual may ask us to correct that personal information. To seek the correction please contact our Privacy Contact Officer on the telephone number or at the e-mail or postal address above.
In certain situations we may decide not to agree to a request to correct personal information. We will tell you in writing why we have not agreed to the correction request.
How an individual may complain and how we will deal with the complaint
We have an internal dispute resolution system that covers complaints. That system complies with ISO 10002-2006 Customer Satisfaction – Guidelines for Complaints Handling in Organisations: sections 4, 5.1, 6.4, 8.1 and 8.2. If an individual considers that we have failed to comply with Division 3 of Part IIIA of the Privacy Act 1988, the Credit Reporting Privacy Code or the Australian Privacy Principles he or she should contact our Privacy Contact Officer on the telephone number or at the email or postal address above. We will then follow our internal dispute resolution system. We will acknowledge the complaint within 7 days. A decision will be made and advised within 30 days or a longer period as may be agreed with the individual.
If the individual is not satisfied with the decision he or she may make a complaint to the Office of the Australian Information Commissioner (the “OAIC”). The contact details for the OAIC are:
Telephone: 1300 363 992
Facsimile: (02) 9284 9666
Website: www.oaic.gov.au
Mail: The Office of the Australian Information Commissioner
GPO Box 2999
CANBERRA ACT 2601
Disclosure of personal information to overseas recipients
Generally we do not disclose personal information to overseas recipients or to persons that do not have an Australian link. However, we may do so. For example, if the debtor is located overseas we may need to send the client’s personal information overseas so that we can collect the debt. We may use service providers located overseas. The country where the overseas recipients of personal information are likely to be located is New Zealand and any other country where the debtor is located.
Definitions
In this privacy policy:
Words which are defined in the Privacy Act 1988 have the same meaning in this privacy policy.
Fifo Capital understands time is critical when it comes to managing your cash flow – so our process is aimed to be as simple as possible.
A Fifo Capital facility approval typically takes around 24 hours to set-up and depending on the required information supplied by customers, transfer of funds can take place in as little as four hours.
The following covers the terms and conditions required for a four hour funds transfer to take place;
To find out more about the full terms and conditions relating to our 4 hour funds transfer please contact Fifo Capital on 1300 852 556
