Title V of the Gramm-Leach-Bliley Act (“GLBA”) went into effect on July 1, 2001. The privacy regulations and information security guidelines issued by the federal financial regulators pursuant to those regulations and guidelines covered financial institutions and Vendors with access to confidential data. Those institutions are required to ensure that all Vendors and other related partners who have access to customer information ensure compliance of confidentiality and security for this information. To ensure our ability to demonstrate compliance with the privacy requirements of GLBA, we require that all panel appraisers agree to the following statements, which will apply to all data provided to you by Appraisal House USA.
As used herein, the term “Customer Information” shall mean any “non-public personal information” about the “customers” and “consumer” (as those terms are defined in Title V of the Gramm-Leach-Bliley Act and the privacy regulations adopted thereunder) of Appraisal House USA. “Vendor” shall mean the party accepting below as “Vendor” (in most cases this is the panel appraiser) that are providing any goods or services to Appraisal House USA on behalf of our clients.
- Vendor hereby agrees that, except as may be reasonably necessary in the ordinary course of business to carry out the activities to be performed by Vendor under its agreement(s) with Appraisal House USA or as may be required by law or legal process, it will not disclose any Customer Information to any third party other than affiliates of Vendor or Appraisal House USA.
- Vendor hereby agrees that it will not use any Customer Information other than to carry out the purposes for which, such Customer Information was disclosed by Appraisal House USA unless such other use is (a) expressly permitted by a written agreement executed by Appraisal House USA or (b) required by law or legal process.
- Vendor agrees to take all reasonable measures, including without limitation such measure as it takes to safeguard its own confidential information, to ensure the security and confidentiality of all Customer Information, to protect against anticipated threats or hazards to the security or integrity of such Customer Information and to protect against unauthorized access to or use of such Customer Information.
- Throughout the term of the Agreement, Vendor shall implement and maintain ‘appropriate safeguards’ as that term is used in section 314.49(d) of the FTC Safeguard Rule, 16 C.F.R. part 314 (the “FTC Rule”) for all ‘customer information’ as that term is defined in section 314.2(b) of the FTC Rule, owned by Appraisal House USA and delivered to the Vendor pursuant to this agreement.
- Vendor shall promptly notify Appraisal House USA in writing of each instance of (i) unauthorized access to or use of that customer information that could result in substantial harm or inconvenience to a customer of Appraisal House USA or (ii) unauthorized disclosure, misuse, alteration, destruction or other compromise of that customer information.
- Vendor shall indemnify, defend and hold harmless, Appraisal House USA for security breaches, violations of GLBA caused by Vendor’s negligence or misconduct, and/or material alteration of customer information.
- Vendor certifies that they will comply with their state’s requirement for document retention for the license under which they are providing services to Appraisal House USA. Once the required retention period has expired, Vendor certifies that they will destroy any Appraisal House USA related work product via shredding and/or burning.
By completing the New Vendor Signup form, you are confirming your agreement to these terms. In order to receive appraisal orders from Appraisal House USA, you must accept the terms stated herein