Data processing policy

We, INSTANT FACTORING IFN S.A., with its seat located in Blvd. Nicolae G. Caramfil nr. 49, et. 4, cam. 9, sector 1, Bucharest, registered with the trade register under no. J40/3635/2018, Sole Registration Code (CUI): 39029401, as a data controller, based on the General Data Protection Regulation (the “Regulation”), hereby inform you that we process your personal data (the “Data”) as follows:

Instant Factoring IFN is a Romanian entity which provides support to Romanian SMEs by transforming their short-/long-term claims into cash.

After your registration on the Instant Factoring online factoring platform, Instant Factoring IFN S.A. must collect and process certain personal data concerning you and/or the legal representatives and/or shareholders and/or persons of contact (if applicable) of your organization.

Such data refer to: full name, title/job position, telephone number, e-mail address, year of birth, profession, photograph, work experience, legal and financial information.

Such data are collected as follows:

When registering on the Instant Factoring platform, only the data filled in by the applicant in the registration form are collected.

When submitting a claim assignment application by using the Instant Factoring platform, data are collected from publicly available sources such as the Trade Register (RECOM), the Electronic Archive for Security Interests in Movable Property (AEGRM), the Ministry of Public Finance, National Tax Administration Agency (ANAF), Courts Portal, Linkedin, your organization’s website.


1. Legal grounds and purposes of processing

1.1. Based on the execution and performance of factoring contracts and the taking of the required steps prior to entering into the contracts (Article 6(1) letter b) of the Regulation), we must collect and process certain Data for the purposes of:

  • Supplying the products and services offered by us to our clients via the Instant Factoring platform, prior checks for payment of claims, insurance against default risk, managing accounts and performing transactions, managing clients, granting and managing limits/conditions, securities and default risk insurance agreements;

The processing activities described under this item 1.1 are required because, without them, Instant Factoring IFN S.A. would not be able to enter into or perform factoring contracts.

1.2. Based on the compliance with legal obligations to which we are subject (Article 6(1) letter c) of the Regulation), we process Data for the following purposes:

  • Keeping of accounts and reporting to tax authorities, the National Office for Prevention and Control of Money Laundering and other authorities according to the law, conducting internal and financial audits, as set forth under the law.

1.3. Based on the pursuit our legitimate interests (Article 6(1) letter f) of the Regulation), we process Data for the following purposes:

  • if applicable, defending our legal claims resulting from our business relationships, detecting fraud, being able to monitor the financial transactions of companies (communication registration) and to have an automatic exchange of information with respect to mandatory reporting to the authorities, ensuring the security of computer networks and of data, access to the premises, video surveillance, but also managing the company’s business (in particular general accounting, invoice management, banking and foreign exchange affairs), client relationships, marketing strategies, including data processing for review or anonymization;
  • sending newsletters to our existing clients regarding the features of our products and services so as to meet the needs of our clients and other information of interest about us and the sector in which we operate (direct marketing communications);

This notice is given in line with the provisions of Article 14 of the Regulation and strictly and exclusively for INSTANT FACTORING IFN S.A.’s compliance with its information obligations as a data controller.
This notice does not constitute and may not be construed as a consent or approval from INSTANT FACTORING IFN S.A. with respect to any funding or claim assignment application and does not have the power of a notice served to the assigned debtor with respect to a claim assignment.

2. Data processed by us

Based on the grounds and for the purposes mentioned above, when you submit a claim assignment application, we process the following data concerning you:

  • Full name
  • Gender
  • Date of birth
  • E-mail address
  • Telephone number
  • Place of work
  • Profession/job position
  • Work experience
  • Photograph
  • IP address
  • Debts to the National Tax Administration Agency (ANAF)
  • Attachments
  • Disputes

We also process Data regarding capital holdings and the capacity of manager/director/proxy, if applicable, of companies, as well as other Data registered in the Trade Register, such Data being obtained from the Trade Register Office to the extent that they are publicly available.
We obtain Data from our client who has a business relationship with you based on which our client issues invoices to you or your organization.
We obtain certain Data from publicly available sources such as the Electronic Archive for Security Interests in Movable Property (AEGRM), the Ministry of Public Finance, the courts portal, Linkedin, your website or your company’s website, Google.

In some cases, if there is a legal obligation, we also process your domicile address, ID information and Personal Identification Number.


3. Data Recipients

Your Data will be disclosed only to the extent required by the processing purpose to our employees involved in activities related to the performance of activities specific to the factoring services provided to our clients, and, if applicable, to our clients and product and service providers, such as our courier service providers or IT support and management services providers, financial auditors, as well as to the competent authorities such as, where applicable, the National Tax Administration Agency (ANAF), Biroul de Credit SA, the National Bank of Romania, courts of law.

The main data recipients, in addition to public authorities, are Romanian entities: Zitec Com SRL, Zoho Corp, June Communications SRL, FAN Courier Express SRL, Neaga si Asociatii Contabilitate, Consultanta si Audit SRL, Cert Content SRL, Google Ireland Limited, Google Cloud Platform, Mailgun Technologies, Inc.


4. Data retention period

Your Data will be processed during the entire term of our business relationship or until the expiry of the legal time-limits for exercising our legitimate interests resulting from a contractual relationship (e.g. the expiry of the limitation periods of legal claims), and, in the case of supporting accounting documents which contain such data, until the expiry of their retention period as set forth under the applicable laws.


5. Your rights concerning the Data

Based on the data processing grounds and purposes, you have the following Data related rights:

  • right of access, i.e. the right to obtain from us, upon request, a confirmation as to whether or not personal data concerning you are being processed, access to the respective data and information regarding such processing;
  • right to rectification of inaccurate personal data or to complete incomplete data;
  • right to restriction of processing, in which case your Data may, with the exception of storage, only be processed with your consent or for the establishment, exercise or defense of legal claims or for the protection of the rights of another natural or legal person or for reasons of important public interest.

    The restriction of processing may be requested in the following cases:

    • until we verify the accuracy of the Data, if the same was contested by you;
    • the processing is unlawful and you oppose the erasure of the Data and request the restriction of their use instead;
    • we no longer need the Data for the purposes of processing, but they are required by you for the establishment, exercise or defense of legal claims; or
    • you objected to our processing based on our legitimate interest, for the period during which we verify whether our legitimate rights override your rights.
  • right to erasure of data concerning you (“right to be forgotten”), if the Data were illegally processed or:
    • the Data are no longer necessary for the purposes for which they were processed;
    • you have withdrawn your consent on which the processing is based and there is no other legal ground for the processing of the Data;
    • you exercised your right to object and there are no overriding legitimate grounds for the processing;
  • right to data portability, i.e. to receive the personal data provided in a structured, machine-readable format, including to have the right to transmit those data to another controller, if such processing is based on your consent or on a contract or is carried out by automated means.
  • right to lodge a complaint with the National Supervisory Authority for Personal Data Processing.



5.1.1. Right to object to processing carried out based on the controller’s legitimate interest

You have the right to object, on grounds relating to your particular situation, to the processing of your Data carried out based on the legitimate interests pursued by us or a third party, including profiling on the grounds or for the purposes mentioned.

5.1.2.Right to object to processing for DIRECT MARKETING purposes

You have the right to object at any time to the processing of your Data direct marketing purposes, including profiling on the grounds or for the purposes mentioned.

You may exercise these rights free of charge by writing to us at the address: Blvd. Nicolae G. Caramfil nr.  49, et. 4, cam. 9, sector 1, Bucuresti or via e-mail at: [email protected]