Credit Check Authorization Terms
These Credit Check Authorization Terms ("Terms") apply when you authorize Slate Financial Technologies Inc. ("Slate," "we," "us," or "our") to obtain your credit information in connection with an application for our receivables purchase services.
By checking the authorization checkbox during our application process, you agree to these Terms and provide the consents described below.
1. Nature of Our Services
Slate provides receivables purchase services, not loans. When you use our services, you sell a portion of your future receivables to Slate in exchange for immediate capital. This is a true sale of assets, not a debt or lending transaction.
We use credit information to assess the quality and collectability of your receivables — not to evaluate your ability to repay a debt. This authorization does not create a lending relationship between you and Slate.
2. What You Are Authorizing
By providing this authorization, you consent to Slate and its designated agents:
(a) Requesting, obtaining, and reviewing your personal and/or business credit reports and credit scores from TransUnion Canada, Equifax Canada, and any other credit reporting agency;
(b) Using this credit information to evaluate your eligibility for our receivables purchase services;
(c) Verifying information you provide in your application;
(d) Conducting ongoing credit monitoring during the term of any agreement between us; and
(e) Sharing information about your account and remittance history with credit bureaus.
3. Types of Credit Inquiries
You understand that Slate may conduct:
Soft Inquiries: These do not affect your credit score. We use soft inquiries for pre-qualification assessments and ongoing account monitoring after you become a customer.
Hard Inquiries: These may affect your credit score. We conduct hard inquiries when processing a formal application for our services. Hard inquiries typically appear on your credit report and may temporarily lower your credit score.
4. Information We May Report
If you enter into a receivables purchase agreement with Slate, we may report information about your account and remittance history to credit bureaus. This may include positive information (such as consistent on-time remittances) as well as negative information (such as breaches of your agreement). This reporting may affect your credit standing.
5. Duration of Authorization
This authorization remains in effect for:
(a) The duration of any receivables purchase agreement between you and Slate;
(b) Any period during which amounts remain outstanding under such agreement; and
(c) Three (3) years from the date of this authorization if no agreement is entered into.
6. Your Rights
You have the right to:
(a) Withdraw this authorization at any time by contacting us in writing. However, withdrawal may result in termination of your application or services, and does not affect information already obtained or reported.
(b) Request access to the credit information we hold about you.
(c) Request correction of inaccurate credit information.
(d) File a complaint with the Office of the Privacy Commissioner of Canada if you believe your privacy rights have been violated.
7. Privacy
Slate collects, uses, and discloses personal information in accordance with Canada's Personal Information Protection and Electronic Documents Act (PIPEDA) and applicable provincial privacy legislation. For complete details on how we handle your information, please refer to our Privacy Policy and Data Collection and Use Policy.
8. Acknowledgments
By checking the authorization checkbox, you acknowledge and confirm that:
(a) You have read and understood these Terms;
(b) You are providing this authorization voluntarily;
(c) You understand that credit inquiries may appear on your credit report and may affect your credit score;
(d) You understand that negative information may be reported to credit bureaus if you breach your agreement with Slate;
(e) If you are providing this authorization on behalf of a business, you have the authority to do so; and
(f) An electronic record of this authorization is as valid as a paper original.
9. Contact Information
If you have questions about this authorization or wish to exercise your rights, please contact us:
Slate Financial Technologies Inc.
1322 West Broadway St Unit 1006
Vancouver, BC V6H 1H2
Canada
Email: admin@tryslatehq.com
Phone: (778) 653-9468
10. Governing Law
These Terms are governed by the laws of British Columbia and the federal laws of Canada applicable therein.
11. Changes to These Terms
We may update these Terms from time to time. If we make material changes, we will notify you by email or through our platform. The "Effective Date" at the top of this document indicates when these Terms were last revised. Your continued use of our services after changes constitutes acceptance of the updated Terms.