Terms & Conditions

Download the Terms and Conditions document here

Thank you for your interest in the SimRisk Challenge 2009.

These terms and conditions set out the rules which have been established to ensure all teams have an equal opportunity to win the SimRisk Challenge 2009. We ask all participants to respect these rules to ensure a realistic simulation.

General Scheme of the Competition

The SimRisk Challenge 2009 is an international competition focused on credit risk management challenges, addressed to Credit Risk professionals from banking & financial organisations.

The SimRisk Challenge 2009 will be run as a ‘virtual’ competition through online tools (e.g. conference calls, webinars,).

Each team will have an Experian support (driver) to run the Experian Strategy Management software, implementing the strategies requested by the relevant team. Therefore, knowledge of the Strategy Management Software is not required and does not provide an advantage to any team.

Participation

The SimRisk Challenge  2009 will have participation from worldwide business teams. Places are limited and will be assigned on a ‘first come first served’ basis.

Participation is not subject to charge by Experian.

Participation is by invitation only, in case you wish to receive an invitation, please contact us at simriskchallenge@experian.com.

Teams will compete anonymously, with each team choosing a nickname, which will be used with their country of origin. Each team will be composed up to a maximum 4 team members that can be from either from a single organization or country or from multiple countries and multiple organizations.  

Participation is limited to 2 teams per organisation.

Each team has to provide Experian with all team members contact details BUT Experian will not publish these without written consensus from the participants.

Participation is at all times in accordance with these Terms and Conditions and any additional information clearly relating to the terms and conditions of the SimRisk Challenge 2009 made available by Experian to all participating teams (and its members) from time to time.

To participate, teams must register by the deadline indicated on the SimRisk Challenge 2009 website.

Communication

Updated and useful information from Experian will be available equally to all teams, through the SimRisk Challenge 2009 website.  

Between the rounds, all questions from the participating teams will be addressed through the dedicated website. All questions will be posted and answers will be published in the website : http://www.experian-da.com/events/SimRisk/ and be available for all competing teams.

Competition

Teams will get three opportunities (‘rounds’) to make changes to their strategies in the Strategy Management software (including the Experian Strategy Design Studio (SDS system). These will be made during webinars with the Experian ‘driver’.

The only responsibility of the Experian ‘driver’ is to make the changes to the SDS system; as directed by each participating team and neither Experian (or any of its representatives) will not be permitted to make any strategy suggestions.

Each round of webinars for the teams will be held in the scheduled week, at times that are convenient for both the team and the Experian 'driver' and will limited to no more than 90 minutes.

If required Challenge 2009 Auditors & SimRisk Challenge Financial Services Authority’s intervention is allowed even retrospectively.

Winners will be announced on 4 November and have their award presented at the Experian International Credit Risk Forum 2009

Timeline

The timetable for the SimRisk Challenge 2009 is published on the SimRisk Challenge 2009 website. The dates in that section of the website are by reference incorporated into these terms and conditions.

Prize details

The winning team will be the team that makes the best results, given the constraints set out in the portfolio guidance. Profit will be explained in the website section in the portfolio guidance and in accordance with these Terms and Conditions.

Each member of the winning team (up to maximum 4 members) will be invited to attend and participate in the Experian International Credit Risk Forum (Prague, 19-20 November).

Experian will reserve the right to change the prize, in case of cancellation of the “Experian International Credit Risk Forum.” A prize of similar value will be provided.

Travel & accommodation expenses will be met by Experian subject to the following conditions:

Travel visas, travel insurance and passport requirements are at the cost and the responsibility of each of the winning team members.

Travel to the Retail Credit Forum will be offered by air. Airport departures for each team winning team member will be arranged at the sole discretion of  Experian using a carrier of sole Experian's choice. Carrier terms and conditions will apply.

4 nights stay of accommodation will be arranged at Experian's sole discretion and includes meals at the relevant standard rates included in information pack issued by Experian to each winning team member after conclusion of the SimRisk Challenge 2009.

Each participating team member is responsible for securing permission from his/her employer to attend the International Experian Credit Forum 2009.

Each winning team member shall be responsible for any personal tax liability  which may arise in respect of the prize offered.

Winning team members may be requested to participate in publicity and details will be published Experian's websites and general promotional materials.

There is no cash alternative to the prize stated.

The competition sponsor is Experian Limited (registered company 653331) ("Experian") whose registered office is at Landmark House, Experian Way, Nottingham NG80 1ZZ.

Privacy and Data Protection

Personal details of individual team members are accepted by Experian on the basis of each team member acting in the course of the business team they register as participating and not as an individual or consumer.

Experian will use the personal details of each team member to administer the SimRisk Challenge 2009 and award of prizes. Each team member's attention is drawn to the "Privacy" section of the SimRisk Challenge 2009 website which shall apply to the use of personal data for the purposes of the SimRisk Challenge 2009 in addition to any other express terms set out in these Terms and Conditions.

Governing Law

The SimRisk Challenge 2009 and these terms and conditions are subject to English Law and the sole and exclusive jurisdiction of the English courts. 

Experian (and any of its group companies) shall not be liable for any loss or damage caused to any participant taking part in the SimRisk Challenge 2009 save for death or personal injury caused by caused by the negligence of Experian, its employees or servants or any other loss or damage that cannot be excluded under English Law.