Credit rating and legitimate interest

What is meant by credit rating and legitimate interest?


Creditworthiness refers to the creditworthiness of natural persons or legal entities, ie private individuals or companies, and their ability to meet payment obligations under a "credit transaction" as contractually agreed.

Credit transactions are not just bank loans. Also orders on account or other contracts, in which a company in advance (ie goods or services supplies and the money receives later) are so-called credit transactions. Companies that make purchases in advance of goods or services, therefore, have a legitimate interest in obtaining information about the creditworthiness of their customers.

A legitimate interest according to § 29 Federal Data Protection Act is z. For example, if an entity wishes to ship goods on account or enter into a service or work contract that involves an economic risk. Of course, this also applies to ongoing business relationships that are associated with a permanent economic risk. The solicitation of credit reports by companies is only possible at the subsidiaries of Arvato Financial Solutions if a legitimate interest exists and has been credibly demonstrated.