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COMPREHENSIVE PRIVACY NOTICE
1. GUARANTOR'S IDENTITY AND ADDRESS
This privacy notice governs the handling of personal data by Pendulum, S. de R.L. de C.V., as portfolio manager of diverse credit portfolios, awarded rights and real property owned by its clients, hereinafter "Pendulum", with address Av. Paseo de la Reforma 404, Piso 13, Desp. 03., Col. Juarez, 06600, Mexico D.F.; acting as Guarantor, shall process all personal data that concerns it as holder of your personal data, for the purpose of protecting your privacy and your right to informational self-determination, according to the provisions of the Federal Law on the Protection of Personal Data held by Private Individuals (the "LFPDP"), its Regulations and the Guidelines of the Privacy Notice issued by the Department of the Economy (the "Regulations").
For the effects of this Notice, the definitions of the terms "Personal Data", "Sensible Personal Data", "Days", "Handling", "Holder of Data", "Guarantor", "Officer", "Transfer", "Remission", "ARCO Rights" – "Right of Access", "Right of Rectification", "Right of Cancellation", "Right of Opposition"; "Cookies", as well as the remaining elements provided for in the applicable legal Regulations.
3. PERSONAL DATA THAT WE COLLECT AND PROCESS
At Pendulum, we collect and process the personal data indicated below:
a) General data
Full name, personal or business e-mail address, Date and place of birth, marital status, nationality, complete home address, personal cell phone number, complete business address, home or business telephone number and signature.
b) Fiscal data
Federal Taxpayer Register Code and Folio and fiscal address.
c) Financial and proprietary data
Income level and income source, credit behavior, personal and business references, bank accounts, bank account key, etc.
d) Sensible personal data
At Pendulum we do not collect or process your sensible personal data unless you decide to provide us with same in order to be able to offer you more advice regarding our products and services, in which case we will request that you grant us your express consent.
e) Personal data from public access sources received via permitted transfers
Data originating from public registers, directories, social networks and other legal sources available on the market as well as personal data that has been shared with us by individuals who have not granted us previous authorization.
f) Third party personal data
Identification and contact data, including name, business telephone and/or cell phone number and e-mail, for use in requesting your personal and business references including information on your history and behavior of payments, credits business references or other information of equal or similar nature.
g) Personal data collected using automatic data collection tools on Pendulum Websites
Data on the type of browser you utilize, the language you use, identification methods of the session with our Websites, passwords for access to the Pendulum Website, access times, IP address, browser type and operative system of the computer or device you used to access the Pendulum Website and the interaction with our e-mails and Websites.
h) Personal data that form part of an automated decision-making process
Pendulum does not process your personal data in automated decision-making processes without intervention of the evaluation of physical persons.
i) Personal data originating from social networks
Pendulum may collect and process personal data and information that you have shared on social networks (such as Facebook®, Twitter®, Linkedin®, among others), including information of "public" nature you have shared such as photographs, names, videos and comments, according to the provisions of the terms and conditions of use and the policies and declarations of said networks.
j) Personal data of relatives and/or other economic dependents
Identification and contact information of relatives, dependents, beneficiaries or co-workers such as their full name, telephone number and/or e-mail.
The aforementioned personal data allow us to provide you with our services and fulfill our contractual, administrative, fiscal, civil and/or commercial obligations. The collection of personal data is carried out through: i) voluntary and direct disclosure of your information through our printed formats; ii) voluntary disclosure of personal information and data in personal or telephone interviews with our authorized personnel; iii) as well as through voluntary and direct disclosure of your information through dialogue windows on our Websites or through the use of e-mails and iv) use of public access sources and other sources available on the market.
The personal data described in the previous paragraphs may consist of distinct document in printed or digital format, such as copies of your: valid official identification (voter identification card, passport, immigration document or driver's license), Federal Taxpayer Register identification card, marriage certificate (where appropriate), proof of address (where appropriate), account statements (where appropriate) and proof of public records.
At Pendulum, we process your personal data for the purpose of carrying out the activities and actions focused on fulfillment of the obligations derived from any legal and commercial relationship we establish with you for the purpose of provision of our services and that we consider primary purposes, which include but are not limited to:
1. Allow access to our facilities;
2. Manage our clients' information for the purpose of maintaining our databases up to date;
3. Manage a commercial relationship with our clients;
4. Accredit your identity and verify the information you provide us with;
5. Integrate files and generate your online profile;
6. Schedule appointments with our representatives;
7. Formalize the transactional process with clients through the signing of conducive contracts or agreements;
8. Process your payments through distinct payment methods derived from your contract or agreement;
9. Elaborate and present your account statements;
10. Manage the collection process personally or via telephone, or printed or electronic means;
11. Allow the processing, administration and security of your personal data;
12. Maintain physical, electronic and procedural safeguards of your personal data in terms of applicable legislation and regulation and
13. Fulfill applicable legal requirements in civil, commercial, administrative and fiscal terms.
14. Purchase or sale of real property owned by Pendulum or its clients, for which Pendulum has the power or right to negotiate or commercialize.
15. Transfers, sale or commercialization of credit rights, litigation rights, awarded rights or any other personal or property rights of Pendulum or its clients, for which Pendulum has the power or right to negotiate or commercialize.
In addition, we will process your personal data for other secondary purposes that do not give rise to and are not necessary for the legal and commercial relationship that we establish with you, which include:
1) Attend your request for information on our products and services;
2) Provide services related to portfolio management;
3) Apply conventional penalties in the event of non-compliance of your contract or agreement;
4) Receive notifications regarding problems with Pendulum Websites;
5) Provide Customer Service for Clients;
6) Manage your obligation compliance history;
7) Address your comments, suggestions, complaints and clarifications;
8) Manage communications containing advertising, notices, messages, news, event invitations and meetings, personally or via telephone or through printed or electronic means for the purposes of advertising, promotions, commercial research or marketing, unless you expressly declare you do not with to receive them;
9) Provide online services;
10) Perform market and consumer studies in an aim to offer you personalized products and services, as well as advertising and other contents more suited to your needs;
11) Evaluate the quality of our products and services through diverse instruments including satisfaction surveys and opinion polls;
12) Instrument activities geared toward promoting, maintaining and improving our products and services, and
13) Administer contract guarantees and, where appropriate, execute them.
For the purposes of the provisions of the Regulations, you hereby declare: i) that Pendulum has provided you with this Notice prior to the collection and/or processing of your personal data, ii) that you have read, understood and agreed to the terms exposed in this Notice for the collection and processing of your property, financial and/or sensible data, due to which, in the event you include them you will write and sign your name at the foot of this document, or manifest your consent via the dialogue windows enabled on our website. The aforementioned, set forth in articles 8 and 9 of the LFPDP, as well as in articles 11, 12, 14, 15, 16 of the Regulations, sin detriment to the cases of exception foreseen in articles 10 and 37 of the LFPDP that authorize us to process your personal data and transfer them in order to comply with our obligations in legal or contractual terms, or by virtue of the present and/or future legal relationship that we have with you.
For the collection, processing and transfer of your personal data other than financial, property or sensible data, you will grant us your silent consent in the terms of this Notice by showing no objection or opposition to its content within 48 hours after it is made available to you through distinct media, including the publication on our Website.
For the purpose of fulfilling the obligations derived from the legal relationship we have established with you through the corresponding contract or agreement, we may share your personal data with third parties within the country, with whom we have signed contracts or agreements for the acquisition, purchase of transfer of credits, transfer or legal rights or any other right and purchase and sale of movable or immovable property. Third party recipient of your personal data are or will be obliged, by virtue of the corresponding contract or agreement, to maintain the confidentiality of the personal data provided by Pendulum and adhere to this Notice. Pendulum may transfer your personal data to the companies indicated in the following table.
|Third party Recipient||Purposes of the transfer||National or international transfer||Consent Requirement|
|Parties interested in the purchase of a credit portfolio, purchase of litigation rights, purchase of awarded rights or any other right or purchase of movable or immovable property.||Acquisition of a loan portfolio, litigation portfolio, grantee portfolio or purchase and sale of movable or immovable property.||National||Regulation No.: Art. 37 Section VII of the LFPDP.|
7. PROCEDURE FOR EXERCISING ARCO RIGHTS AND WITHDRAWAL OF CONSENT.
You have the right at all times to access, rectify and cancel your personal data, as well as oppose the processing or revoke your consent regarding the processing of same for determined purposes - including secondary purposes- that you have previously authorized, directly or through your legal representative. If you decide to do this directly, you may edit your profile online or present the corresponding request utilizing the formats we will provide for you on our Website or via e-mail, containing the information and documentation indicated below:
1. Your full name, addressor other means such as your e-mail to send the response to your request;
2. Documents that accredit your identity - a printed or electronic copy of your voter identification card, passport or FM-3, if applicable, or where appropriate, that of your legal representative - a printed or electronic copy of the power of attorney with your signature and that of two witnesses and of the legal representative, with their corresponding official identification - voter identification card, passport or FM-3);
3. Clear and precise declaration of the personal data in regarding which you seek to exercise any of the ARCO rights; and
4. Any other element or document that facilitates the localization of your personal data.
In the case of requests for access to personal data, Pendulum will deliver your information via electronic means upon accreditation of your identity or that of your legal representative, as appropriate.
In the case of requests for rectification of personal data, you must also indicate the modifications to be made and provide the documentation that sustains your request.
Pendulum will respond within a maximum period of twenty days, beginning on the day of receipt of your request for access, rectification, cancellation or opposition, in light of determinations, to the effect that if it proceeds, it takes effect within fifteen days after the date on which you are notified of the response. In all cases, the response from Pendulum shall be sent via the same means by which you sent us your request or, where appropriate, another means we mutually agree upon. The aforementioned periods may be extended one time only for a period of equal length, if and when the circumstances of the case so justify, according to the provisions of the LFPDP.
The delivery of personal data will be free of charge, you must solely cover the justified shipment expenses and the cost of copies or other formats. In the event that you repeat a request within a two month period, you must cover all corresponding costs in terms of the LFPDP, unless substantial modifications exist in the privacy notice that justify new consultations.
For the reception, attention and response regarding requests to exercise your ARCO rights and other rights provided for in the LFPDP, we put you in contact with our Privacy Officer, who you may contact in our offices indicated in section 8, or via our Website or e-mail.
In case the information provided in your request is erroneous or insufficient, or does not include the corresponding accreditation documents, we may request that you provide the necessary elements or documents for processing of same, within five days after the reception of your request. You will have ten days to meet this requirement, beginning on the day after we notify you. If you do not respond within said period, the corresponding request will be deemed not to have been filed.
8. PRIVACY OFFICER.
For any questions you may have in regard to the protection of your personal data, contact our Pendulum Privacy Officer in our offices located at Av. Paseo de la Reforma 404, Piso 13, Desp. 03., Col. Juárez, 06600, México D.F., Telephone: +52 (55) 10 84 35 00 Ext. ; Fax: +52 (55) 10 84 35 35 or via e-mail to: email@example.com.
9. LIMITATION OF USE AND DISCLOSURE OF INFORMATION
Pendulum will store your personal data duringthe period required to process the commercial or legal relationship with you, and maintain the records required by the LFPDP, its Regulations and valid civil, commercial, fiscal and administrative legislation.
The personal data collected by Pendulum are protected by adequate administrative, technical and physical measures against damage, loss, alteration and destruction or unauthorized use, access or processing, in accordance with the provisions of the LFPDP and its Regulations.
To limit the use and disclosure of your personal data, send an e-mail to firstname.lastname@example.org containing your request
Child protection and protection of persons in the state of interdiction or the disabled: Pendulum does not collect or process personal data of children, persons in the state of interdiction or the disabled, unless they have been provided by their parents, legal guardian or legal representative, as applicable. If Pendulum deems that the personal data have been provided by a child or a person in the state of interdiction or disabled, in violation of this Notice, we will proceed to eliminate said personal data as soon as possible. If you have knowledge of that such personal data has been provided by a child under 18 years of age or by a person in the state of interdiction or disabled, please notify us via e-mail at: email@example.com.
Collection of data via browsing Pendulum Websites
Pendulum may collect personal data through its Website or via the use of automatic data collection tools. Cookies are among the automatic data collection tools utilized by Pendulum.
These cookies may be disabled. Consult the following link or e-mail to see how to do this:
•Internet Explorer: http://windows.microsoft.com/es-MX/windows-vista/Block-or-allow-cookies
10. CHANGES IN THE NOTICE.
Pendulum reserves the right to update this Notice for the purpose of reflecting the changes in our data protection practices derived from our continuous improvement process, as well as the legal, regulatory and administrative changes that it deems fit. We invite you to periodically review the content of the Privacy Notice on our Website, where we will publish all changes together with the date of the last update.
11. DECLARATION OF CONSENT.
For the purposes of granting your express consent for the processing of your data described in this Privacy Notice, we ask you to please sign this document and send it to your Privacy Officer, or click on Accept in the corresponding section of the dialog window of our Website.
I hereby grant my express consent for the collection, processing, transfer and utilization of the personal data described in this Privacy Notice.
THIS CONFIDENTIALITY AGREEMENT IS ENTERED INTO BY AND BETWEEN PENDULUM, A VARIABLE CAPITAL LIMITED LIABILITY COMPANY, HEREINAFTER CALLED THE COMPANY AND , HEREINAFTER CALLED THE INVESTOR, PURSUANT TO THE FOLLOWING RECITALS AND CLAUSES:
I. THE COMPANY hereby certifies the following through its legal representative:
a) It is a business corporation duly incorporated and existing under Mexican law.
b) It has agreed to grant THE INVESTOR access to the CONFIDENTIAL INFORMATION described in Clause Two this Agreement.
d) THE COMPANY is located at Avenida Paseo de la Reforma # 404, Piso 13, Desp. 03., Colonia Juárez, 06600 Mexico, D.F.
II. THE INVESTOR hereby states:
a) That it is an individual/business corporation duly incorporated and existing under Mexican law.
b) It agrees to submit and be bound by the terms of this Agreement.
c) Its address is:
III. The Parties hereby state the following:
a) They mutually acknowledge each other’s legal capacity, and hereby consent to submit to the terms of this instrument pursuant to the following:
ONE. HEADINGS. The headings and subheadings contained herein are inserted for convenience only and in no way define or affect the meaning or interpretation of any of the provisions contained herein.
TWO. CONFIDENTIAL INFORMATION. THE INVESTOR shall not, either on its own behalf or acting through a third party, disclose, communicate, disseminate, distribute, store, amend or use all or part of the CONFIDENTIAL INFORMATION for any purpose other than the purposes stipulated in this Agreement, without THE COMPANY’S prior written consent.
For the purposes of this Agreement, CONFIDENTIAL INFORMATION, which shall not be disclosed to third parties under any circumstances unless previously approved in writing by THE COMPANY, shall mean the following:
- • All information provided by THE COMPANY to THE INVESTOR, related to its own loans or its clients’ property, irrespective of whether said information takes the form of court files, contracts, databases or any other written, printed or digital document.
- • All information relating to loans payable to THE COMPANY or its clients, discussed in private face-to-face or telephone conversations between THE INVESTOR and THE COMPANY’S personnel, and all information contained in any documented recorded or displayed on any digital, written, magnetic or audiovisual media, in general.
- • Financial information of any kind which does or could compromise THE COMPANY in the event of the purchase or sale of mortgage rights, litigious rights, distribution rights and/or real estate.
- • Information related to the type and number of packages, borrowers and/or matters made known to THE INVESTOR by signing a loan agreement, an onerous assignment agreement, or a purchase and sale agreement, or following any mention thereof by THE COMPANY at any time.
- • The total or individual pecuniary amount agreed for the onerous assignment and/or sale of loans, and/or sale of real estate to THE INVESTOR.
- • The phase of the court proceedings of any matters assigned or sold to THE INVESTOR, or those of THE COMPANY and/or its clients, of which the former is informed.
- • The pecuniary amounts agreed to by the Parties as expenses, amounts actually collected, or consideration agreed in or out of court, outside the scope of this agreement.
- • Any other information that THE COMPANY decides should be treated as CONFIDENTIAL INFORMATION from the time THE INVESTOR takes delivery of such or has access to such.
Notwithstanding the foregoing, THE COMPANY may grant its content for THE INVESTOR to disclose any information treated as confidential under this clause to third parties. However, this consent must be made explicitly, beforehand and in writing, and granted by those persons duly authorized to do so.
THREE. OBLIGATIONS OF THE PARTIES. THE COMPANY shall grant THE INVESTOR access to its CONFIDENTIAL INFORMATION. On the other hand,THE INVESTOR agrees to obtain this information under the terms and conditions stipulated herein.
For the purposes of this Agreement, CONFIDENTIAL INFORMATION shall mean all information stated in the clause above, whether contained in a magnetic, digital or written media, verbally expressed or provided by any other tangible or intangible media, and all other information brought to the attention of THE INVESTOR verbally, visually or in writing.
Notwithstanding the foregoing, THE COMPANY reserves the right to classify all of the information it delivers to THE INVESTOR as CONFIDENTIAL INFORMATION when given on this understanding, which must be treated as such from the time the former takes possession of such.
FOUR. PURPOSES. THE INVESTOR hereby agrees to use THE COMPANY’S information for no other purpose than to review, assess and consult the credit portfolios provided thereto and/or any related real properties, those held directly or indirectly by THE COMPANY or which it participates in, to enter into a future final commercial agreement.
FIVE. THE SECRET. THE INVESTOR hereby agrees to maintain the confidentiality of all of the CONFIDENTIAL INFORMATION it receives from THE COMPANY as secret data, and to refrain from disseminating it to third parties other than any of its directors, employees, attorneys and consultants who need to know this information for the purposes authorized in Clause Four of this Agreement.
Accordingly, THE INVESTOR agrees to sign a confidentiality agreement with the above-mentioned directors, employees, attorneys and consultants under the same terms binding THE INVESTOR in by this Agreement, prior to granting the above parties’ access to CONFIDENTIAL INFORMATION.
THE INVESTOR shall also take all security measures and precautions deemed necessary and appropriate to maintain secrecy of the CONFIDENTIAL INFORMATION owned by THE COMPANY or its clients, including information handled by its staff members.
THE INVESTOR further agrees to keep its IT systems completely safe and secure and under its control to make sure that no one other that its directors, employees, attorneys, and consultants can access any information obtained from THE COMPANY or its clients.
Lastly, THE INVESTOR is bound to professional secrecy, and binds itself to keep from misappropriating the CONFIDENTIAL INFORMATION or employing it fraudulently, in bad faith, or with the intention of causing injury or harm to THE COMPANY or its clients.
SIX. DISCLOSURE OF CONFIDENTIAL INFORMATION. THE INVESTOR hereby agrees that it will not forward CONFIDENTIAL INFORMATION to any person that is not a party to this Agreement unless it obtains the prior and due written authorization from THE COMPANY to this end.
If THE INVESTOR, is legally bound to forward the CONFIDENTIAL INFORMATION, it must notify THE COMPANY in writing under the terms of subsection e) of Clause Ten of this Agreement.
SEVEN. OWNERSHIP OF INFORMATION. THE INVESTOR hereby accepts that the CONFIDENTIAL INFORMATION that it receives from THE COMPANY is and shall continue to be the property of the latter, and that it shall use this information exclusively in the manner and for the purposes authorized in Clause Four of this Agreement, with the understanding that this Agreement does not explicitly or implicitly grant any intellectual property rights to THE INVESTOR over the CONFIDENTIAL INFORMATION.
EIGHT. SUSPICION OF BREACH. If THE COMPANY has good reason to believe that all or part of the CONFIDENTIAL INFORMATION provided to THE INVESTOR has been disclosed, the latter shall allow the former to conduct a thorough investigation to determine whether it was at fault for the disclosure or if it was caused by any of its directors, employees, attorneys or consultants.
During its investigation, THE COMPANY shall determine whether THE INVESTOR failed to fulfill its obligations established in this Agreement, regardless of whether such a breach is related to the information disclosed, for the purposes of accountability of the latter.
NINE. VIOLATION OF CONTRACT. THE INVESTOR shall be liable for all damages and lost profits caused to THE COMPANY resulting from its failure to fulfill the provisions contained in this Agreement, thereby agreeing to compensate THE COMPANY and its clients for the damages caused, without prejudice to the right of THE COMPANY or its clients to file criminal or civil proceedings against THE INVESTOR, its representatives, consultants or personnel related thereto as a result of such breach.
Notwithstanding THE INVESTOR’S liability described above for damages and lost profits, both parties agree that in the event of breach of any of the obligations contained herein, THE COMPANY or its clients may jointly claim liquidation of damages equal to a percentage of the total UPB or total debt of the loans contained in the CONFIDENTIAL INFORMATION, based on the number of loans provided to THE INVESTOR in accordance with the following table:
|80%||81 or more|
TEN. EXCEPTIONS. Notwithstanding the terms set forth in this Agreement, THE INVESTOR may disclose the CONFIDENTIAL INFORMATION on the following grounds:
- a) It was known to THE INVESTOR, free of any confidentiality obligation, prior to its disclosure, as proven in documentation found in the possession of said party;
- b) It was independently collected or prepared by THE INVESTOR, or legally received free of restrictions from a source other than THE COMPANY that is entitled to disclose it;
- c) It is or is made of the public domain through no failure of THE INVESTOR to fulfilling the terms of this Agreement;
- d) It is requested by a court of law;
- e) THE COMPANY expressly authorized its disclosure in writing, and such is delivered through a person duly authorized to this end.
With relation to the premise mentioned in subsection d), THE INVESTOR shall immediately notify THE COMPANY in writing of the demand being made so that both Parties can agree to an appropriate response.
ELEVEN. AMENDMENTS. Any amendment to this Agreement and any novation, covenant or agreement made between the parties about this Agreement, shall only be valid if it is certified in writing and duly signed by both Parties.
TWELVE. TERM AND TERMINATION. This Agreement shall take effect for an undetermined period of time upon its signature. However, it may be terminated by either party by way of written notice that must be delivered with return receipt requested at least 10 (ten) business days in advance.
THIRTEEN. EFFECTS OF TERMINATION. All CONFIDENTIAL INFORMATION delivered to THE INVESTOR by THE COMPANY must be returned to the latter or destroyed where appropriate in the preVENnce of an authorized representative thereof, within ten (10) business days following the termination of this Agreement.
THE INVESTOR’S obligations regarding the CONFIDENTIAL INFORMATION described in this Agreement shall survive for five (5) years following its termination.
FOURTEEN. PRIOR AGREEMENTS. This Agreement represents the whole agreement between the Parties in relation to the CONFIDENTIAL INFORMATION and, therefore, replaces all previous verbal or written agreement that may have existed between the Parties.
FIFTEEN. PROHIBITION OF ASSIGNMENT. Neither party may assign its rights and obligations derived from this Agreement to third parties.
SIXTEEN. JURISDICTION. For all matters related to the interpretation, fulfillment and execution of this Agreement, the parties expressly submit to the jurisdiction of the Competent courts and applicable laws of Mexico, Federal District, thus waiving their right to invoke any other applicable jurisdiction by reason of their current or future domiciles, or for any other reason.
Having read this Agreement and being fully aware of its content and legal scope, the parties hereby sign two copies of this Agreement, one for each, in Mexico, Federal District, on .
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Because once you do you will have online access to detailed information on more than 10,000 opportunities to invest in mortgage assignments you can view by state, city, district or map location.
What is an assignment of mortgage?
An assignment of mortgage is the sale of debt collection rights. These debts are usually due and payable because the debtor has defaulted on a loan and is involved in a legal proceeding.
When a debt is raised to a legal proceeding, the right of action in the process is also assigned, which means that if the debtor in question continues to withhold payment and the legal proceedings are resolved in the favor of the creditor, the purchaser of the assignment shall have the rights over the auction of the property and may award it as he sees fit.
Why should I purchase or invest in an assignment of mortgage?
Because they are offered at highly attractive prices with a significant discount on total mortgage debt, far below the value of the property pledged to secure the loan.
Does an assignment of mortgage give me the right to rent or live in a property pledged to secure the loan?
No, an assignment of mortgage does not give you the right to rent or live in the property. You will only have this and all rights over the property once it has been awarded.
What if the debtor makes payment?
The debtor is bound to pay the total mortgage debt as long as the assignment buyer has collection rights, proving a lucrative business on account of the discount given to the purchaser of the assignment.