At FinancialForce.com, customer success is our #1 value and nothing is more important than the privacy of our customers’ data. In light of the European Court of Justice’s decision on October 6, 2015, regarding the EU-US Safe Harbor Framework, FinancialForce.com is immediately offering customers a data processing addendum incorporating the European Commission’s standard contractual clauses, commonly referred to as “model clauses”.
On October 6, 2015, the European Court of Justice determined that the EU-US Safe Harbor Framework does not provide a valid legal basis for transfers of personal data from Europe to the U.S.
The EU-US Safe Harbor Framework was established by the European Commission and the U.S. Department of Commerce in 2000 to facilitate transfers of personal data from the EU to eligible U.S. companies that certify to and comply with the Safe Harbor principles. Additional information about the EU-US Safe Harbor Framework is available at the U.S. Department of Commerce’s Web site.
Customer success is FinancialForce.com’s #1 value. To ensure that our customers may continue to validate transfers of personal data from Europe to the U.S. under EU data protection laws, FinancialForce.com is offering its customers a data processing addendum incorporating the European Commission’s standard contractual clauses commonly known as “model clauses”. Please note that the model clauses will apply to the extent there is not another legal basis in place to validate the transfer of personal data from the EU to the U.S.
The model clauses are contract templates developed by the European Commission as one mechanism for contracting parties to legalize the cross-border transfer of personal data from Europe. FinancialForce.com’s new data processing addendum automatically incorporates the model clauses as long as transfers of personal data are not legalized by an alternative compliance standard recognized by the European Commission.
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