Supply And Resell Personal Data Licence (Financial Services)
Publisher one
ƵSource file
Jurisdiction
England and WalesCost
Free to useContract party
Relevant sectors
Type of legal document
💽 Data Licence AgreementBusiness activity
Share or acquire dataA data licence agreement is a contract between a data provider and a data user that sets out the terms and conditions under which the data may be used. The agreement will typically cover issues such as how the data may be used, how it will be protected, and who owns the rights to the data.
The document highlights the obligations and responsibilities of the parties involved, including the licensor's duty to provide accurate and up-to-date personal data, while the licensee is required to utilize the data strictly for legitimate and authorized purposes within the financial services sector. Specific provisions may be included to emphasize the importance of data protection and confidentiality, ensuring compliance with relevant data protection legislation such as the General Data Protection Regulation (GDPR) in the UK.
Furthermore, the template may address issues regarding the duration of the license, potential restrictions on data usage, and obligations concerning the secure storage and handling of personal data. It may also cover aspects like dispute resolution mechanisms, termination clauses, and any additional provisions necessary to safeguard the interests of both parties involved in the licensing agreement.
The primary objective of this legal template is to establish a legally-binding agreement that defines the terms under which personal data can be shared, supplied, and resold within the financial services industry, while ensuring compliance with applicable UK data protection laws. By utilizing this template, businesses operating in the financial sector can establish a transparent and mutually beneficial relationship while recognizing the importance of protecting personal data and maintaining data privacy standards.
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