WHAT ARE THE PRINCIPLES OF RECIPROCITY AND DATA EXCHANGE?
The Principles of Reciprocity and Data Exchange (PRDE) is a set of agreed principles that support Australia's credit reporting system. The PRDE facilitates sharing of credit reporting information between PRDE signatories by setting up a reciprocal data exchange.
ARCA developed the Principles of Reciprocity and Data Exchange (PRDE), and the Australian Credit Reporting Data Standard (ACRDS) through extensive consultation with ARCA Members and other key stakeholders. ARCA’s subsidiary, the Reciprocity and Data Exchange Authority (RDEA), is the PRDE Administrator Entity and has responsibilities under the PRDE to support the administration of the PRDE and its compliance framework.
In 2015, the Australian Competition and Consumer Commission (ACCC) authorised key paragraphs of the PRDE relating to the PRDE's reciprocity, consistency and enforceability provisions. In 2020 the ACCC again Authorised key paragraphs of the PRDE for a further six years
For more information, visit the PRDE website - www.prde.com.au
Link to 2020 ACCC PRDE Authorisation