Privacy Notice

This Privacy Notice (the “Notice”) is a part of the terms and conditions that will govern the relationship that you as the user of the debenture crowdfunding platform (the “User”) and Siam Validus Capital Company Limited (“Siam Validus”). Please kindly study this Notice together with other terms and conditions entered into between Siam Validus and the User.

Siam Validus may amend this Notice from time to time; provided that Siam Validus will announce the amended Notice on the debenture crowdfunding platform (the “Platform”) and such amendment shall become effective upon announcement without any requirement on Siam Validus to notify the User in advance. In case that the User continue using our service and the Platform after the amendment made, it shall be deemed that the User unconditionally accept the amended Notice. All communication, transaction and relationship between the User and Siam Validus thereafter, consequently, be subject to the latest update of the Notice at such time.

“Personal Data” under this Notice means any data that can identify one individual, including without limitation name, contact information, address, identification document and other identifiable details that the User provide to Siam Validus on the Platform or through the communication for any services provided by Siam Validus (the “Services”)  

Data Subjects whose Personal Data being Processed

Siam Validus may collect the Personal Data of the following persons: (a) individual User; and (b) the related persons of the corporate User, including the shareholders, the directors, the officers, the authorized person, the employee, the customer, the payer, the receiver, the guarantor, the collateral provider and any other individual that relates to such corporate User (the “Related Persons”)

Collection Points of the Personal Data

Siam Validus may collect and compile the User’s Personal Data from various sources:

  • directly from the User that provide those Personal Data via the Platform or the direct communication between Siam Validus employee and the User or the Related Persons;
  • indirectly from the supervisory body, agent, advisor or any of the User’s representative that give the Personal Data to Siam Validus;
  • automatically collect from the communication with Siam Validus over the phone, facsimile, email or other electronic means that Siam Validus may record and manage;
  • indirectly from the relevant third party service provider, including the escrow agent; and 
  • indirectly from the public data sources or any other third party, including the government database, credit bureau or other identity database provider that Siam Validus may connect to in order to verify the identity and/or qualification of the individual User or the Related Persons. 

In case that the User give the Personal Data of their respective Related Persons to Siam Validus, it shall be deemed that (a) the User represent and warrant to Siam Validus that the relevant data subject whose Personal Data being shared to Siam Validus already be informed and/or already consent that their Personal Data will be processed and shared with Siam Validus pursuant to this Notice; (b) the User shall notify Siam Validus immediately in case the relevant data subject withdraw their consent; provided that the User acknowledge and understand that such consent withdrawal may impact the Services to be provided by Siam Validus to the User under the terms and conditions; and (c) the User shall ensure that all information (including the Personal Data) being shared to Siam Validus are all correct, accurate and complete. 

Personal Data being Processed by Siam Validus

Siam Validus may process the following Personal Data of the individual User or the Related Persons:

  • full name and contact information, including address as defined under the government document; current address; address in the nationality country; work address, office address, telephone number;
  • information defined in the identification document issued by the government authorities, including national identification card or passport (include the automatic extraction of those information with the card reader or NFC techniques) and the copy or photo of such documents;
  • information relating to the User that Siam Validus may collect and process in order to verify the User or the Related Persons’ identity and to assess the money laundering risk, including date of birth, financial conditions (i.e. source of income and expenses, income-generated countries, averaged monthly salary, bank account information and the photo thereof, list of assets, estimated net assets, payment slip or other income evidence and any other information that may be required to be filled in the identity verification and investment capacity of the User);
  • facial photo that the individual User is required take live selfie and the Platform system will conduct biometric comparison of such photo to verify the identity as Siam Validus is obliged under the applicable laws to do so;
  • any information relating to the knowledge and experiences of the User in the investment; or the information relating to the purpose of the Services uses; 
  • transactional information that the User executed via the Platform, including User registration information; user account information, password, transactional information executed with the User account, electronic signature, debenture subscription form, debenture transfer and receipt, transaction information, transaction history, payment details and history and withholding tax information;
  • information of the Related Persons of the corporate User that Siam Validus may need to collect and process those Personal Data in order to verify the qualification and the suitability of the corporate User who intends to issue the crowdfunding debenture on the Platform, including the identification and qualification information or resume of such Related Persons, any information collected from the interview or contact made between Siam Validus and the Related Persons; and
  • technical identifier of the device or equipment used to connect to the Platform, including device information, IP address or Mac address, cookies, web beacon or device ID.

Purposes for the Process of the Personal Data

Siam Validus would process the identified Personal Data for the following purposes:

  • For the performance of Siam Validus’ legal obligations as the crowdfunding operator under the supervision of the Securities and Exchange Commission, the Personal Data Protection Committee and any other government bodies, include the following obligations:
    • the obligation to verify the Information, document and identity of the individual User; and to verify the status and qualification of the corporate User, including the obligations to conduct know-your-customer and investor qualification check and the obligations to conduct customer due diligence (if needed);
    • the obligation to conduct the due diligence and the suitability for the use of Services and/or Platform for the corporate User who intends to issue the crowdfunding debenture; provided that for this particular obligation, Siam Validus would need to process the Related Persons’ Personal Data from several sources and methodologies, including interview and document review where some Personal Data will be collected;
    • the direct obligation of Siam Validus in complying with the accounting and tax law; and the obligation that Siam Validus may facilitate the tax payment for the relevant User;
    • the obligation that Siam Validus may be obliged under the court judgment or government order, either in Thailand or abroad, to perform, including the existing ones, the amendment thereof or the future legislatures.
  • For the performance of Siam Validus’ contractual obligations that Siam Validus is obliged to perform prior to the entry into the relevant agreements with the User or the obligations that would need to be performed under the terms and conditions entered into between Siam Validus and the User, include the following obligations:
    • the obligation to give advice, recommendation and/or other information relating to the Services provided by Siam Validus; and the obligation to verify and assess the needs of the relevant User that would match the intention and request of the User;
    • the obligation to coordinate and facilitate any transactions executed or the use of any Services of Siam Validus, starting from the onset until the effectuation of all the transactions as defined under the terms of services defined by Siam Validus, including without limitation the coordination with the User who is the debenture issuer and the User who is the investor during the debenture offer and subscription until the delivery of the debenture; and the obligations that Siam Validus may need to perform as requested for the performance of any Services by Siam Validus, including investment coordination or the payment request or verification; 
    • the obligations to facilitate any transaction executed on the Platform, either directly performed by Siam Validus or by the third-party service provider (for instance, escrow agent or other service providers);
    • the obligation to monitor and manage the transaction executed on the Platform, including any transaction executed with the User account, the change in those information, system use, transaction verification and monitoring and the transactional report for the User to verify and monitor;
    • any other contractual obligations that Siam Validus may have, including the obligations to follow up and contact the relevant User to ensure the performance of the User and Siam Validus’ obligations under any contractual arrangement entered into between the User and Siam Validus.
  • For the protection of Siam Validus’ legitimate interest without excessively causing impact on the data subject, include the following purposes:
    • for the employee training and performance monitoring;
    • for the management of the business relationship between Siam Validus and the User; the management and inspection of the complaints or dispute; the problem resolution; the monitoring of the compliance with the terms and conditions as applicable; the revocation of any Services used by any User; and the overall risk monitoring and management;
    • for the User segmentation for the marketing plan to provide the relevant information to the relevant User; provided that these are the information relating to the debenture and/or Services that the User are currently using from Siam Validus or currently subscribing for; 
    • for the analysis or statistic compilation for the internal workflow improvement, including the data analytic, the modelling or the portfolio review;
    • for any other actions undertaken in order to protect the legitimate interests of Siam Validus, including database compilation, feedback request, documentation process, enforcement of the contractual rights that Siam Validus may have (i.e. payment demand for any applicable fees), the pursue of legal proceedings in case of any violation or any threat (for instance, particularly, in the misuse of the Platform and/or Services for the fraud, money laundering or financial support to terrorism, the intellectual property infringement or the monitoring or surveillance of any threat executed on the Platform), the internal control purposes and the prevention and management of all the risk associated with the operation of the Platform that Siam Validus may incur. 
  • With the User’ Consent Siam Validus may use the Personal Data for the following purposes: 
    • the process of sensitive Personal Data (i.e., biometric comparison) that Siam Validus is obliged to perform in order to ensure the identity verification; 
    • the marketing and promotional purposes that Siam Validus may contact the User to introduce any product or services of Siam Validus, the business partners and/or any entity to the User.

Transfer of Personal Data out of Thailand

Siam Validus may need to share and transfer Personal Data to the affiliates and third party service providers outside of Thailand, including the transfer of Personal Data via cloud server outside of Thailand; provided that Siam Validus shall ensure the information security of the Personal Data being shared or transferred, in particular the information security of the destination country where the Personal Data will be shared or transferred to. 

Retention Period of the Personal Data

Siam Validus would retain the Personal Data for as long as Siam Validus has the legitimate rights and justifications to do so, in particular for the period of time as required under the applicable laws and for the exercise of Siam Validus legitimate rights, the retention period shall be for the period of 7 years after the termination of the relationship between the User and Siam Validus. 

Disclosure of Personal Data to Third Parties

Siam Validus may need to disclose the Personal Data from time to time to the following third parties for the performance of Siam Validus’ obligations: 

  • to other User that relates in the crowdfunding issuer process, in particular the disclosure of the Personal Data of the Related Persons of the User who intends to offer and issue debenture to the User who is the intended subscriber; the disclosure of the Personal Data of the individual User who subscribes for the debenture to the User who will be issuing and delivering the crowdfunding debenture to those Users; and the disclosure of the Personal Data among the User for other purposes to coordinate and facilitate the transaction to be executed under the relevant debenture documents;
  • to agent, contractor or other third party service providers that provide the services to Siam Validus in particular the following services relating to database, financial, business management, logistic, communication, business operation flow, information security, payment (including in particular the escrow agent), payment demand, credit scoring, credit modeling or other services for the performance of Siam Validus’ business operation, the Platform function or the delivery of the relevant Services;
  • to any person that Siam Validus may be obliged to disclose the Personal Data to under the applicable laws, the court order and/ or other government orders, in particular the supervisory authorities of Siam Validus;
  • to any assignee of any rights and obligations from Siam Validus in the part that relates to Siam Validus’ assets or business, either in whole or in part; and
  • to any other third party that the User may inform and give consent to Siam Validus to disclose their respective Personal Data to.

User’s Rights as the Data Subject

Siam Validus respect the User’s rights under the applicable laws that relates directly to the Personal Data under the possession of Siam Validus. The User an exercise the following rights: (1) right to withdraw consent: at any time that Siam Validus still possesses the User’s Personal Data; provided that such consent withdrawal shall not prejudice the Personal Data being processed prior to such withdrawal; (2) right to request for access to the Personal Data; (3) right to data portability in case Siam Validus keep and retain those Personal Data in electronic readable forms that can be automatically transferred, except in case there is any technical difficulties; (4) right to object to any Personal Data process (5) right to be deleted or to request that Personal Data be anonymized in case that the User believe that the Personal Data being processed in violation of the relevant laws or there is no further necessity for Siam Validus to process such Personal Data; (6) right to suspend the process of the Personal Data during the consideration of the exercise of right to revise the Personal Data, the right to object to the Personal Data processing or the right to be deleted; (7) right to revise or update the Personal Data or (8) right to make any complaint to the relevant government authorities in case that the User believe there is any violation of the applicable laws.

Download form for exercising your rights here

 

In case the User has any question relating to the Personal Data processing by the Siam Validus or would like to exercise any of the rights as defined above, please feel free to contact us at compcl@siamvalidus.co.th