Credit Collateral
Audits
We optimize your credit risk management through professional verification support
Monitoring retail trade collateral can present several challenges for lenders. Some of the challenges are:
Physical Location of Collateral/Primary
Retail businesses may have multiple locations, which can make it challenging for lenders to track and monitor collateral/primary security.
Collateral Control
Retail businesses may have multiple creditors with claims on the same stocks, which can create disputes over the same and lead to legal challenges.
Monitoring Compliance
Retail businesses may be subject to a range of regulatory requirements, such as environmental regulations, which can impact the value of asset. Lenders may need to monitor compliance with these regulations to protect the value of the asset.
Inventory Management
Retail businesses may have complex inventory management systems that can make it difficult for lenders to monitor changes in inventory levels and track the movement of inventory. Investments need to remain in the business and should not get diverted for other purposes. Lenders therefore are keen to ensure that the vehicles financed by them are available in stock, else in the form of Receivables/Bank balance
Technological Disruption
The retail industry is undergoing significant technological disruption, which can impact the value of the security. For example, changes in consumer behavior can lead to rapid obsolescence of inventory, making it difficult for lenders to assess its value.
To address these challenges, lenders may need to invest in specialized expertise in retail trade financing, including inventory valuation, develop new technologies to monitor the security more efficiently and accurately, such as real-time inventory tracking systems and have strong partners who can carry out country wide physical verification on their behalf.
All these challenges require a partner who can manage multiple locations, gather resources in a flexible manner and at short notice, a good domain knowledge on how to execute these projects, based on the asset category, and most importantly finish the work in optimum time and competitive costs.
Matrix Business Services brings you a Pan India coverage, with deep domain expertise and over 20 years of experience to provide you with a digitally driven, cutting edge, customised service to enable you to run your business in an efficient, productive, and risk-mitigated manner.
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Terms and Conditions
These terms and conditions ("Agreement") set forth the general terms and conditions of your use of the https://www.matrixbsindia.com/ website ("Website" or "Service") and any of its related products and services (collectively, "Services"). This Agreement is legally binding between you ("User", "you" or "your") and this Website operator ("Operator", "we", "us" or "our"). By accessing and using the Website and Services, you acknowledge that you have read, understood, and agree to be bound by the terms of this Agreement. If you are entering into this Agreement on behalf of a business or other legal entity, you represent that you have the authority to bind such entity to this Agreement, in which case the terms "User", "you" or "“your" shall refer to such entity. If you do not have such authority, or if you do not agree with the terms of this Agreement, you must not accept this Agreement and may not access and use the Website and Services. You acknowledge that this Agreement is a contract between you and the Operator, even though it is electronic and is not physically signed by you, and it governs your use of the Website and Services.
Age requirement
You must be at least 18 years of age to use the Website and Services. By using the Website and Services and by agreeing to this Agreement you warrant and represent that you are at least 18 years of age
Links to other resources
Although the Website and Services may link to other resources (such as websites, mobile applications, etc.), we are not, directly or indirectly, implying any approval, association, sponsorship, endorsement, or affiliation with any linked resource, unless specifically stated herein. We are not responsible for examining or evaluating, and we do not warrant the offerings of, any businesses or individuals or the content of their resources. We do not assume any responsibility or liability for the actions, products, services, and content of any other third parties. You should carefully review the legal statements and other conditions of use of any resource which you access through a link on the Website and Services. Your linking to any other off-site resources is at your own risk.
Prohibited uses
In addition to other terms as set forth in the Agreement, you are prohibited from using the Website and Services or Content:
- for any unlawful purpose.
- to solicit others to perform or participate in any unlawful acts.
- to violate any international, federal, provincial or state regulations, rules, laws, or local ordinances
- to infringe upon or violate our intellectual property rights or the intellectual property rights of others.
- to harass, abuse, insult, harm, defame, slander, disparage, intimidate, or discriminate based on gender, sexual orientation, religion, ethnicity, race, age, national origin, or disability.
- to submit false or misleading information.
- to upload or transmit viruses or any other type of malicious code that will or may be used in any way that will affect the functionality or operation of the Website and Services, third party products and services, or the Internet.
- to spam, phish, pharm, pretext, spider, crawl, or scrape.
- for any obscene or immoral purpose.
- to interfere with or circumvent the security features of the Website and Services, third party products and services, or the Internet.
We reserve the right to terminate your use of the Website and Services for violating any of the prohibited uses.
Intellectual property rights
"Intellectual Property Rights" means all present and future rights conferred by statute, common law or equity in or in relation to any copyright and related rights, trademarks, designs, patents, inventions, goodwill and the right to sue for passing off, rights to inventions, rights to use, and all other intellectual property rights, in each case whether registered or unregistered and including all applications and rights to apply for and be granted, rights to claim priority from, such rights and all similar or equivalent rights or forms of protection and any other results of intellectual activity which subsist or will subsist now or in the future in any part of the world. This Agreement does not transfer to you any intellectual property owned by the Operator or third parties, and all rights, titles, and interests in and to such property will remain (as between the parties) solely with the Operator. All trademarks, service marks, graphics and logos used in connection with the Website and Services, are trademarks or registered trademarks of the Operator or its licensors. Other trademarks, service marks, graphics and logos used in connection with the Website and Services may be the trademarks of other third parties. Your use of the Website and Services grants you no right or license to reproduce or otherwise use any of the Operator or third-party trademarks.
Limitation of liability
To the fullest extent permitted by applicable law, in no event will the Operator, its affiliates, directors, officers, employees, agents, suppliers or licensors be liable to any person for any indirect, incidental, special, punitive, cover or consequential damages (including, without limitation, damages for lost profits, revenue, sales, goodwill, use of content, impact on business, business interruption, loss of anticipated savings, loss of business opportunity) however caused, under any theory of liability, including, without limitation, contract, tort, warranty, breach of statutory duty, negligence or otherwise, even if the liable party has been advised as to the possibility of such damages or could have foreseen such damages. To the maximum extent permitted by applicable law, the aggregate liability of the Operator and its affiliates, officers, employees, agents, suppliers, and licensors relating to the services will be limited to an amount greater of one dollar or any amounts actually paid in cash by you to the Operator for the prior one-month period prior to the first event or occurrence giving rise to such liability. The limitations and exclusions also apply if this remedy does not fully compensate you for any losses or fails of its essential purpose. In no event will either Matrix or its affiliates and its third-party service providers be liable to any party for any direct, indirect, incidental, special, exemplary, consequential, or other damages (including, but not limited to, lost profits, business interruption, loss of programs or data) without regard to the form of action and whether in contract, tort, negligence, strict liability, or otherwise, arising out of or in connection with this Website. any content on or accessed through this site or any site service linked to, or any copying, displaying, or use thereof.
Matrix maintains this Website in Chennai, India and Users accessing agrees that these terms of use and any legal action or proceeding relating to this site shall be governed by the laws of the land. If User attempt to bring any legal proceedings against Matrix, User specifically acknowledges that Matrix is free to choose the jurisdiction of our preference as to where such action against us may be held or Matrix can make this decision entirely as it suits too, without regard to where in the world User are located, or from where in the world User visited this Website.
User is responsible for complying with the laws of the jurisdiction from which Users are accessing this Website and User agree that User will not access or use the information on this Website in violation of such laws. Unless expressly stated otherwise herein, any information submitted by the User through this Website shall be deemed non-confidential and non-proprietary. Because of the open nature of the Internet, Matrix recommends that the User not submit information User consider as “CONFIDENTIAL”. Any unauthorized ideas, recommendations, data(s), information, etc. shall not be treated as confidential. If the User does so, it will be with the understanding that Matrix assumes no obligations to protect such information and compensate the User for such disclosure of information through this Website.
Indemnification
You agree to indemnify and hold the Operator and its affiliates, directors, officers, employees, agents, suppliers and licensors harmless from and against any liabilities, losses, damages or costs, including reasonable attorneys' fees, incurred in connection with or arising from any third party allegations, claims, actions, disputes, or demands asserted against any of them as a result of or relating to your Content, your use of the Website and Services or any willful misconduct on your part.
Severability
All rights and restrictions contained in this Agreement may be exercised and shall be applicable and binding only to the extent that they do not violate any applicable laws and are intended to be limited to the extent necessary so that they will not render this Agreement illegal, invalid or unenforceable. If any provision or portion of any provision of this Agreement shall be held to be illegal, invalid or unenforceable by a court of competent jurisdiction, it is the intention of the parties that the remaining provisions or portions thereof shall constitute their agreement with respect to the subject matter hereof, and all such remaining provisions or portions thereof shall remain in full force and effect.
Dispute resolution
The formation, interpretation, and performance of this Agreement and any disputes arising out of it shall be governed by the substantive and procedural laws of Chennai, India without regard to its rules on conflicts or choice of law and, to the extent applicable, the laws of India. The exclusive jurisdiction and venue for actions related to the subject matter hereof shall be the courts located in Chennai, India, and you hereby submit to the personal jurisdiction of such courts. You hereby waive any right to a jury trial in any proceeding arising out of or related to this Agreement. The United Nations Convention on Contracts for the International Sale of Goods does not apply to this Agreement.
Changes and amendments
We reserve the right to modify this Agreement or its terms relating to the Website and Services at any time, effective upon posting of an updated version of this Agreement on the Website. When we do, we will revise the updated date at the bottom of this page. Continued use of the Website and Services after any such changes shall constitute your consent to such changes.
Acceptance of these terms
You acknowledge that you have read this Agreement and agree to all its terms and conditions. By accessing and using the Website and Services you agree to be bound by this Agreement. If you do not agree to abide by the terms of this Agreement, you are not authorized to access or use the Website and Services.
Contacting us
If you would like to contact us to understand more about this Agreement or wish to contact us concerning any matter relating to it, you may send an email toinfo@matrixbsindia.com.
Privacy Policy
1.Privacy Policy / Notice
1.1 Introduction
Matrix Business Services India Private Limited (Herewith referred to as Matrix) (‘we’ or ‘us’ or ‘our’) gathers and processes your personal information in accordance with this privacy notice and in compliance with the relevant data protection regulation and laws. This notice provides you with the necessary information regarding your rights and our obligations, and explains how, why and when we process your personal data.
Matrix Business Services India Private Limited’s registered office is at Sree Mahamadhi Towers. No. 17, Arulambal Street, T. Nagar, Chennai – 600 017, India and we are a company registered in India under corporate identification number U74140TN2003PTC051482. We act as the PII Controller when processing your data.
1.2 Information That We Collect
Matrix Business Services India Private Limited (Herewith referred to as Matrix) processes your personal information (information that specifically identifies an individual or that is linked to information that identifies a specific individual) to meet our legal, statutory and contractual obligations and to provide you with our products and services. We will never collect any unnecessary personal data from you and do not process your information in any way, other than as specified in this notice.
The personal data that we collect are:
- Name
- Date of birth
- Gender
- Email address
- Postal address
- Telephone/mobile number
- Educational qualification records
- Employment history records
- PAN
- Aadhaar
- Voter ID
- Passport
- Driving license
- Bank statement (If need arises)
- Credit information (If need arises)
- Medical records and history (If need arises)
By accessing our website or providing data directly to Matrix through customer website/ portal or through Matrix internal portal/ any other source, you agree and consent to the collection and use of your personal information and sensitive personal information for specific verification and screening purposes only.
We collect information in the below ways:
- Online job application form under career option on Matrix’s website
- Marketing Emails
- Matrix prospective customers provides their name, email id and contact information on the contact us form on Matrix’s website. Please review each Matrix’s terms of use and privacy policies carefully before using the services.
- Customers who uses our services based on the contract entered, shares any kind of personal data that is required to perform the Employee background and credentials verification.
- Information from other sources (We may obtain information, including Personal Data, from third parties and sources other than the Service, such as our partners, mutual connections, advertisers, credit rating agencies, and Integrated Services. If we combine or associate information from other sources with Personal Data that we collect through the Service, we will treat the combined information as Personal Data in accordance with this Policy
1.3 How We Use Your Personal Data
Matrix takes your privacy very seriously and will never disclose, share or sell your data without your consent, unless required to do so by law. We only retain your data for as long as is necessary and for the purpose(s) specified in this notice. Where you have consented to us providing you with promotional offers and marketing, you are free to withdraw this consent at any time. The purposes and reasons for processing your personal data are detailed below:
- We collect your personal data in the performance of a contract or to provide a service. We use the information to operate, maintain, enhance and provide all features of the Service, to provide the services and information that you request, to respond to comments and questions and to provide support to users of the Service. We process personal data collected in performance of a contract solely in accordance with the directions provided by the contract.
- We will occasionally send you marketing information like updates on promotions and events relating to services offered by us where we have assessed that it is beneficial to you as a customer and in our interests. Such information will be non-intrusive and is processed on the grounds of legitimate interests.
- We may use your email address or other information to contact you for administrative purposes such as customer service, to address intellectual property infringement, right of privacy violations or defamation issues related to personal data posted on the Service
- We use the information to understand and analyze the usage trends and preferences of our users, to improve the Service, and to develop new services, feature, and functionality
1.4 Your Rights
You have the right to access any personal information that Matrix processes about you and to request information about:
- What personal data we hold about you
- The purposes of the processing
- The categories of personal data concerned
- The recipients to whom the personal data has/will be disclosed
- How long we intend to store your personal data for
- If we did not collect the data directly from you, information about the source
If you believe that we hold any incomplete or inaccurate data about you, you have the right to ask us to correct and/or complete the information and we will strive to do so as quickly as possible; unless there is a valid reason for not doing so, at which point you will be notified.
You also have the right to request erasure of your personal data or to restrict processing in accordance with the data protection laws; as well as to object to any direct marketing from us. Where applicable, you have the right to data portability of your information and the right to be informed about any automated decision-making we may use.
If we receive a request from you to exercise any of the above rights, we may ask you to verify your identity before acting on the request; this is to ensure that your data is protected and kept secure. Requests to access, change, or remove your information will be handled within thirty (30) days.
1.5 Sharing and Disclosing Your Personal Information
We do not share or disclose any of your personal information without your consent, other than for the purposes specified in this notice or where there is a legal requirement.
A. Unrestricted information
Any information that you voluntarily choose to include in a Public Area of the Service, such as a public profile page, will be available to any Visitor or User who has access to that content.
B. Service Providers
We work with third party service providers who provide the following services:
- Website
- Application development
- System Administration
- Hosting
- Maintenance
- Court Check
- Credit Check
- Drug Check
- Education Check
- Employment Check
- Residential Check
These third parties may have access to, or process Personal Data as part of providing those services for us. We limit the information provided to these service providers to that which is reasonably necessary for them to perform their functions, and our contracts with them require them to maintain the confidentiality of such information.
We may disclose such Information to related third parties outside of the country (such country or countries having same level of data protection as in our country) for the purpose of verification if the subject is a foreign national or employed/being employed outside India.
Matrix may disclose and transfer such information to a third party who acquires any or all of Matrix’s business units, whether such acquisition is by way of merger, consolidation or purchase of all or a substantial portion of our assets or by any other permitted method. A prominent notice will be displayed on our website to intimate you of any such change in ownership or control. Third parties referred to in this section includes our associates, affiliates or related entities
1.6 Safeguarding Measures
Matrix takes your privacy seriously and takes every reasonable measure and precaution to protect and secure your personal data. We work hard to protect you and your information from unauthorised access, alteration, disclosure or destruction and have several layers of security measures in place, including:
- Encryption of data during transit (HTTPS)
- Encryption of data at rest
- Restricted access to only authorized personnel through authentication and password mechanisms
- Implementation of anti-malware software
- Network protection through firewalls
However, no method of transmission over the Internet, or method of electronic storage, is 100% secure. We cannot ensure or warrant the security of any information you transmit to us or store on the Service, and you do so at your own risk. We also cannot guarantee that such information may not be accessed, disclosed, altered, or destroyed by breach of any of our physical, technical, or managerial safeguards.
If you believe your Personal Data has been compromised, please contact us as set forth in the “Contact Us” section.
Our security management standards are in compliance with ISO 27001:2013 and ISO 9001:2015 which is a widely recognized international security management standard that specifies security management best practices and comprehensive security controls, by way of which we also meet the requirements of reasonable security practices under the Information Technology Act, 2000. Our compliance with ISO 27001 demonstrates our commitment to information security at every level.
If we learn of a security systems breach, we will inform you of the occurrence of the breach in accordance with applicable law.
1.7 Consequences of Not Providing Your Data
You are not obligated to provide your personal information to Matrix, however, as this information is required for us to provide you with our services, we will not be able to offer some/all our services without it.
1.8 Legitimate Interests
As noted in the ‘How We Use Your Personal Data’ section of this notice, we occasionally process your personal information under the legitimate interests’ legal basis. Where this is the case, we have carried out a thorough Legitimate Interests’ Assessment (LIA) to ensure that we have weighed your interests and any risk posed to you against our own interests; ensuring that they are proportionate and appropriate.
We use the legitimate interests’ legal basis for processing direct marketing emailers / phone calls and have identified that our interests are to provide you with high quality, best in industry, performance support system to ease and improve user onboarding, support and training.
1.9 Cookie Notice
A ‘cookie’ is a small piece of data sent from a website and stored on the user’s computer by the user’s web browser while the user is browsing. When you visit a site that uses cookies for the first time, a cookie is downloaded onto your computer/mobile device so that the next time you visit that site, your device will remember useful information such as visited pages or logging in options.
Cookies are widely used in order to make websites work, or to work more efficiently, and our site relies on cookies to optimize user experience and for features and services to function properly.
We use automatically collected information and other information collected through our website through cookies and similar technologies to: (i) personalize our service, such as remembering your information so that you will not have to re-enter it during a visit or on subsequent visits; (ii) provide customized advertisements, content, and information; (iii) monitor and analyze the effectiveness of Service and third-party marketing activities; (iv) monitor aggregate site usage metrics such as total number of visitors and pages viewed; and (v) track your entries, submissions, and status in any promotions or other activities on the Service.
These cookies do not collect personal information about you. A persistent cookie remains on your hard drive after you close your browser so that it can be used by your browser on subsequent visits to the Service. Persistent cookies can be removed by following your web browser’s directions. A session cookie is temporary and disappears after you close your browser. You can reset your web browser to refuse all cookies or to indicate when a cookie is being sent. However, some features of the Service may not function properly if the ability to accept cookies is disabled.
Most web browsers allow some control to restrict or block cookies through the browser settings, however if you disable cookies you may find this affects your ability to use certain parts of our website or services.
1.10 Minors and Children’s Privacy
Protecting the privacy of young children is especially important. Our Service is not directed to children under the age of 16, and we do not knowingly collect Personal Data from children under the age of 16 without obtaining parental consent. If you are under 16 years of age, then please do not use or access the Service at any time or in any manner. If we learn that Personal Data has been collected on the Service from persons under 16 years of age and without verifiable parental consent, then we will take the appropriate steps to delete this information. If you are a parent or guardian and discover that your child under 16 years of age has obtained an Account on the Service, then you may alert us at info@matrixbsindia.com and request that we delete that child’s Personal Data from our systems.
1.11 How Long We Keep Your Data
Matrix only ever retains personal information for as long as is necessary to fulfill the purposes outlined in this Privacy Policy, unless a longer retention period is required or permitted by law (such as tax, accounting or other legal requirements) and we have strict review and retention policies in place to meet these obligations. Where you have consented to us using your details for direct marketing, we will keep such data until you notify us otherwise and/or withdraw your consent.
1.12 Marketing
CONSENT
Occasionally, Matrix would like to contact you with the marketing materials / offers relating to our services that we provide. If you consent to us using your contact details for this purpose, you have the right to modify or withdraw your consent at any time by using the opt-out/unsubscribe options or by contacting Matrix directly.
If you consent to us contacting you with the above-mentioned marketing and offers, please tick to say how you would like to be contacted:
LEGITMIATE INTERESTS
Matrix will occasionally send you marketing material / offers related to our services by email and tele-conversation that have been identified as being beneficial to our customers and in our interests. Such information will be relevant to you as a customer and is non-intrusive and you will always have the option to opt-out/unsubscribe at any time. Personally identifiable information collected / stored under this legitimate interests’ basis is protected by the same security measures listed in the ‘Safeguarding Measures’ section above.
If you would prefer not to receive above-mentioned marketing and offers, please tick below:
1.13 How to Contact Us
Matrix only processes your personal information in compliance with this privacy notice and in accordance with the relevant data protection laws. If, however you wish to raise a complaint regarding the processing of your personal data or are unsatisfied with how we have handled your information, you have the right to lodge a complaint with our Data Protection Officer at info@matrixbsindia.com.
1.14 Consent (Physical Hard Copy)
Matrix takes your privacy seriously and will only process your personal data with your consent and in accordance with the terms stated in our Privacy Notice. If you consent to us collecting and processing your personal data, please sign below:
I, , (PII Principal’s name) confirm that I have been provided with a copy of Matrix ’s Privacy Notice & Terms & Conditions prior to giving consent.
Signature:
Time:
Name:
Date:
1.15 Consent (Digital Format)
Matrix takes your privacy seriously and will only process your personal data with your consent and in accordance with the terms stated in our Privacy Notice. If you consent to us collecting and processing your personal data, please tick the check-box below:
I, , ( PII Principal’s name) consent to you processing my personal data as detailed in your
1.16 Grievance Officer
Matrix has appointed Ms. Jayasree Srinivasan as the Chief Privacy Officer/Grievance Officer. She can be reached at grievance.officer@matrixbsindia.com. If there is a breach/incident found related to data privacy, an email can be shared to the Chief Privacy Officer/Grievance Officer in the above set email id. The timeline to attend to resolving minor incidents (incidents which do not cause no/very negligible damage) would be next 24 hours. With respect to other major/critical incidents – first level would be attended to in the next 24 hours and subsequently would be resolved within a maximum timeline of 72 hours depending on the gravity of the issue.
If you have any queries, kindly contact us at info@matrixbsindia.com. We will employ all commercially reasonable efforts to address the same.
This information was last published on the 18 th of April 2023.
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