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HomeMy WebLinkAboutBy-law No. 2004-099 THE CORPORATION OF THE MUNICIPALITY OF BAYHAM BY-LAW NO. 2004-099 A BY-LAW TO AUTHORIZE THE EXECUTION OF AN AGREEMENT BETWEEN THE MUNICIPALITY OF BAYHAM AND ROYAL BANK OF CANADA FOR VISA BUSINESS CARDS WHEREAS Section 8 of the Municipal Act, 2001, S.O. 2001, c. 25 as amended provides a municipality with the powers of a natural person. AND WHEREAS the Council of the Corporation of the Municipality of Bayham has accepted the banking services proposal provided by Royal Bank of Canada. , NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY OF BAYHAM ENACTS AS FOLLOWS: 1. THAT the Mayor and Clerk be and are hereby authorized to execute the Visa Business Card Agreement attached hereto as Schedule "A" and forming part of this by-law, between the Corporation of the Municipality of Bayham and Royal Bank of Canada. 2. THAT any business card by-laws previously adopted are hereby repealed. 3. THAT this by-law shall come into full force and effect upon final passing. READ A FIRST, SECOND AND THIRD TIME AND FINALLY PASSED THIS 21`11)DAY OF DECEMBER 2004. MAYO ' CL`7FRK -4.2 . --iineclute_ 14 co ..1_,,IL-0.1---s c-t-1-41-4(1-11-a-01-4-ktela,;1,3194(03/20041 PLEASE FAX TO APPROPRIATE BUSINESS SERVICE CENTRE(BSC) (... fi(dtft (NN&7!:71 " WSA 4 BUSINESS CARDS - NEW ACCOUNTS/ADDITIONAL CREDIT+ CA -AIGN CODE RBC . Fields labeled with asterisks (**) are mandatory TO: BSC RE: BUSINESS APPLICANT NAME(LEGAL REGISTERED BUSINESS NAME)** BUSINESS NAME TO APPEAR ON CARDS(Max.26 Characters)** CORPORATION OF THE MUNICIPALIT MUNICIPALITY OF BAYHAM - BUSINESS ADDRESS** BUSINESS PHONE NUMBER COMPANY'S CLIENT NUMBER PO BOX 160 9344 PLANK RD (519) 866-5521 0000 (BUSINESS SRF)** 855-834-693 STRAFFORDVILLE ON NOJ 1Y0 BUSINESS FAX NUMBER COMPANY CONTACT NAME TITLE TELEPHONE NUMBER SUZANNA MANTEL TREASURER (519) 866-5521 Please effect the following additions to the Visa Business Cards Accounts issued to the above company: CYCLE DATE (This is the date the statement will be printed. Must be between the 3rd and 27th day of the month.)This date will be the same for all accounts below. CARDS FOR BUSINESS OWNER/AUTHORIZED SIGNING OFFICER: CREDIT LIMIT** CARDHOLDER NAME" CARD TYPE" (Business mkt.*1000 LIABILITY (surname,first name) Business Gold& TYPE** Business Avian mm .*5000) KRUGER,KYLE 2 Business El Business El Business $ 5, 000 RI CIMMMt* Li Joint MANTEL, SUZANNA r.", Business 0 Business 0 Businessness $ 5, 000 IX Corporate O Joint 0 Business 0 Lliness 0 Bainneas $ 0 Corporate O Joint CARDS FOR ALL OTHER CARDHOLDERS: CARDHOLDER NAME** (surname,initials) CARD TYPE" 0 Business CD aZr.... El Business 0 Business 0 tr. 0 Business $ $ CREDIT LIMIT" (Business min.*1000 Business Gold& Business Avion min.*5000) EMPL 1 . _ 0 Burliness 0 rims 0 Business $ I AM AN AUTHORIZED SIGNING OFFICER OF THE BUSINESS APPLICANT WITIJ ATHORITY.TO F ..." E BUSINESS APPLICANT L,,i 'n-r. Arc,c-42_ PIA Afe_. NAME ** SIGNA R **, t..) A /Thal(.1- thAa itai• a, :2_,(9-.v V TITLE DATE.. ......... Li'sr\14 M.1 ii a rd AL Lii,—LLJ 1.11111PGICE1** I TITLE DATE CARD DELIVERY: al 0 Location Address Imendatoryl: 121 BROADWAY ST, TILLSONBURG ON Deliver Cards Redirect Cards to Branch TILLSONBUR.G, ON to Company (Must Specify Delivery Location) Address as above N4 G 3 P7 Location Transit /mandatory): 05102 WE CERTIFY THAT THE TOTAL CREDIT EXTENDED, INCLUDING THESE LIMITS IS APPROVED UNDER AUTHORIZED CREDIT FACILITY DATEDV-‘54-4 01702 (519) 842-6460 BANK OFFICER SIGNATURE *.A. 8. KENDRCK RESPONSIBILITY TRANSIT** BANK OFFICER FAX NUMBER + For maintenance Items such as name changes,card cancellation etc.please use FORM 15615-VISA•BUSINESS CARDS-EXISTING ACCOUNT MAINTENANCE TPA Trade-mark of Royal Bank of Canada. • Registered trademark of Visa international Service Association. Used under licence. Royal Bank VISA* Business Card Agreement �� EForm 80450(03120041 'r RBC Advances and Cheques) and the Interest Rate (Interest-Bearing Purchases); In consideration of the mutual promises stated in this "Liability Waiver Program" means the Royal Bank VISA Agreement, we agree with you as follows: Liability Waiver program in force from time to time, a current copy of which is annexed to this Agreement; 1. What the Words Mean: In this Agreement and the Disclosure Statement, please remember that, oMinimum Payment" means the amount indicated as such nt; "we", "our" and "us" mean the person or entity which has "New Balance"n an Account Smea means amount indicated as such on an signed this Agreement; and Account Statement; "you" and "your" mean Royal Bank of Canada. "Personal Identification Number" means the personal Please also remember that in this Agreement and the identification number that a Cardholder has selected in your Disclosure Statement, prescribed manner; "Account" means the Royal Bank VISA Business card "Purchase" means a purchase of goods or services (or account you have opened in a Cardholder's name to which both) that is charged to a Cardholder's Account with or in Debt is charged; connection with their Card; and "Account Statement" means your written statement of the "Statement Date" means the date indicated as such on an Account that you prepare for a Cardholder about every Account Statement. three (3) or four (4) weeks [the period covered by each 2. General Terms of Agreement: This Agreement and the Account Statement will vary between 27 days and 34 Disclosure Statement apply to each Account and Card.This days]; Agreement replaces all "Aggregate Credit Limit" means the maximum aggregate g p prior VISA Business card amount of Debt that can remain outstanding and unpaid at agreements between you and us for each Account and any time in the Accounts of all Cardholders under this Card. Agreement; We must promptly give you up-to-date credit and "Agreement" means this VISA Business Card Agreement financially-related information about us when you ask for it. and all annexes attached to this VISA Business Card The section headings in this Agreement appear only for Agreement; ease of reference purposes. They do not form part of this "Authorized Person" means any individual we have Agreement. designated in writing as being authorized to ask you to 3. Account Opening/Card Issuance and Renewal: You will open an Account and issue a Card to a Cardholder under open an Account for, and will issue a Card on that Account this Agreement and to perform administrative duties for us to, a Cardholder at the request of an Authorized Person under this Agreement; made on a fully completed request form that you have "Card" means any VISA Business or CHARGEX.credit card prescribed for this purpose. you issue to a Cardholder on an Account in their name at You will also issue renewal and replacement Cards our request, and all renewals of and replacements for that (excluding an emergency replacement Card) to each credit card; Cardholder before the expiration date indicated on the Card "Cardholder" means an individual for whom you have last issued to them. You will continue to issue renewal and opened an Account and to whom you have issued a Card replacement Cards to a Cardholder in this way until we or on that Account at the request of an Authorized Person the Cardholder tells you to stop. An emergency under this Agreement; replacementby you to a Cardholder "Cash Advance" means an advance of cash that is charged hn requiredaraccording issued to your customary operating to a Cardholder's Account with or in connection with their procedures. Card (or any other eligible Account access card you have 4. Account and Card Use: A Cardholder may use their issued to the Cardholder); Account and Card to obtain advances of money from you "Credit Limit" means the maximum amount of Debt that through Purchase transactions, Cash Advance transactions can remain outstanding and unpaid at any time in a and other transactions you permit from time to time. The Cardholder's Account under this Agreement; use of each Account and Card is "Debt" means all amounts charged to a Cardholder'sgoverned by this Account with or in connection with their Card, including Cardholder An Account and hasad may only opened used by the Purchases, Cash Advances, interest, service fees and other Cardholder in must whoset name iti been r the pr issued. A e charges; Cardholder not use their Card after expiration date "Disclosure Statement" means your written statement of shown on it or after the termination of this Agreement. the Interest Rates, service fees and other charges for each 5. Account and Card Ownership: You are the owner of each Account and each Card set out in a document Account and Card. Neither a Cardholder or we have the accompanying each Card when you issue it to a Cardholder right to assign or transfer this Agreement, any Card or any and in any other document or statement you may send to Account to anyone else. Cardholders from time to time; 6. Lost or Stolen Card: We or a Cardholder must tell you at "Due Date" means the date indicated as such on an once if the Cardholder's Card is lost or stolen or if we or Account Statement; the Cardholder suspects it is lost or stolen. We or the "Interest-Bearing Balance" means the unpaid balance of the Cardholder may do this in the way you have set out on Debt outstanding in a Cardholder's Account that is made each Account Statement. up of any combination of Interest-Bearing Purchases and If a Cardholder's Card is lost or stolen, we will be liable to Cash Advances; you for: "Interest-Bearing Purchase" means a Purchase appearing on (a) all Debt on the Cardholder's Account, up to a an Account Statement for the first time whether either or maximum of $1,000.00, resulting from the loss or both of the following occurs: (i) the Debt shown on that theft of their Card that is incurred before the time we Account Statement is not paid in full by that Account or the Cardholder tells Statement's Due Date or (ii) the Debt shown on the you about that.loss or theft preceding Account Statement was not paid in full by that through any one or more transactions on the preceding Account Statement's Due Date; Cardholder's Account in which only their Card or the "Interest Rate (Cash Advances and Cheques)" means the Cardholder's Account number has been used to annual percentage rate of interest referred to in the complete those transactions, and Disclosure Statement and set out on each Account (b) all Debt resulting from the loss or theft of their Card Statement that applies to each Cash Advance; that is incurred before the time we or the Cardholder "Interest Rate (Interest-Bearing Purchases)" means the tells you about that loss or theft through any one or annual percentage rate of interest referred to in the more transactions on the Cardholder's Account in Disclosure Statement and set out on each Account which their Card and Personal Identification Number Statement that applies to each Interest-Bearing Purchase; have been used together to complete those "Interest Rates" mean, collectively, the Interest Rate (Cash transactions. Page 1 of 4 E-Form 80450(03/20041 We will not be liable to you for any Debt resulting from the Account Statement to the Cardholder on which that loss or theft of the Cardholder's Card that is incurred after excess appears. the time we or the Cardholder tells you about that loss or Id) We must keep each Cardholder's Account up-to-date theft. at all times even when you are delayed in or prevented 7. Card Cancellation/Revocation or Suspension of Use: We from sending, for any reason, any one or more Account may cancel a Cardholder's Account and Card for any Statements to Cardholders. We must contact your reason (including, without limitation, the death of the Card Centre identified on Account Statements at least Cardholder) by providing you with written notice of once a month during such a delay or interruption to cancellation of that Account and Card. Subject to Section obtain any payment information we do not have and 6., we will be liable to you for all Debt, howsoever and by need to know in order for us to comply with our whomsoever incurred, resulting from the use of the obligations under this Section. Cardholder's Account or Card from the time we provide (e) If any payment made by us in respect of a Cardholder's written notice of cancellation to you of the Cardholder's Account is not honoured, or if you must return it to us Card until the time we have notified you that the Card has because it cannot be processed, the applicable service been destroyed. fee will be charged under Section 13. and Card If the Debt outstanding in a Cardholder's Account exceeds privileges may be revoked or suspended by you under Section 7. the Credit Limit at any time, you may suspend the Cardholder's right to use their Account and Card and all 11• Interest Charges: services you provide to the Cardholder under this (a) Interest-Free Purchases: We will not pay interest on Agreement until such time as that excess is paid to you in the amount of any Purchase appearing on an Account full. Statement for the first time provided that all Debt You may revoke or suspend a Cardholder's right to use shown on that Account Statement is paid in full by their Account and Card at any time without notice. The that Account Statement's Due Date and all Debt Cardholder must also surrender their Card to us or to you at shown on the preceding Account Statement was also our(or your) request. paid in full by that preceding Account Statement's Due 8. Limits: You will set an Aggregate Credit Limit for all Date. Accounts and you may change it from time to time by (b) Interest Bearing Balance: We will pay interest on the providing written notice of the change to us. You will tell Interest-Bearing Balance at the Interest Rates in effect us what the initial Aggregate Credit Limit is in writing at or in the manner described below and in sub-Section before the time an Account is opened for a Cardholder 11.(c): under this Agreement. We will not permit the Debt we owe You will charge us interest: to you at any time to exceed the Aggregate Credit Limit. Ii) on the amount of each Interest-Bearing Purchase However, you may (but are not required to, even if you from land including) the transaction date recorded have done so before) permit that Debt to exceed the for them on the Account Statement where they Aggregate Credit Limit you set from time to time. appeared for the first time to the day you receive You will set a Credit Limit for each Cardholder's Account payment in full of the Interest-Bearing Balance; and you may change the Credit Limit for a Cardholder's and Account periodically. You will tell each Cardholder what (ii) on the amount of each Cash Advance from (and their current Credit Limit is on the document accompanying including) the day they are obtained to the day you their Card when you issue it to them and on each Account receive payment in full of the Interest-Bearing Statement. We will ensure that each Cardholder observes Balance. their Credit Limit. We will not permit the Debt we owe to (c) Interest Calculation: The interest you charge on the you in respect to an Account at any time to exceed the Interest-Bearing Balance accrues daily. Credit Limit for that Account. However, you may (but are You will calculate the interest on the Interest-Bearing not required to, even if you have done so before) permit Balance made up of Cash Advances by multiplying this that Debt to exceed that Credit Limit you set from time to Interest-Bearing Balance outstanding on any day by the time. Interest Rate (Cash Advances and Cheques) in effect and 9. Liability for Debt: Subject to Sections 6. and 7., and except dividing the result by the number of days in the year. as may otherwise be provided under the Liability Waiver You will calculate the interest on the Interest-Bearing Program, we will be liable to you for all Debt charged to Balance made up of Interest-Bearing Purchases by each Account, no matter how it is incurred or who has multiplying this Interest-Bearing Balance outstanding on any incurred it and even though you may send Account day by the Interest Rate (Interest-Bearing Purchases) in Statements to Cardholders and not to us. However, you effect and dividing the result by the number of days in the will provide Account Statement or other information about year. that Debt to us at our request. You may apply any money we have on deposit with you or You will post the interest we owe on the Interest-Bearing any of your affiliates against any Debt we have not paid to Balance for the period covered byanAccount Statement to you as required under this Agreement without notice to us. the chAcarge ont at the end t- that period. Since accruesthe interest 10. Payment of Debt: you charge the Interest-Bearing Balance daily up to the time you receive a payment of the Debt, the final (a) Subject to sub-Sections 10.(b), 10.(c) and Section 18., interest charge on the Interest-Bearing Balance for that we may pay the Debt we owe to you in respect to period can only be calculated and included on the Account each Cardholder's Account in full or in part at any Statement that shows the payment. time. You will not charge interest on billed interest or service (h) Subject to sub-Section 10.(c) and Section 18., we fees and other charges, except foreign currency fees. must make one of the following payments of the Debt 12. Application of Payments: You will apply each payment of shown on each Account Statement by the Due Date the Debt in respect to a Cardholder's Account in the shown there in order to keep the Account up-to-date: following order: interest charges; service fees and other (i) a payment in full of the New Balance shown on charges; billed Cash Advances; Interest-Bearing Purchases, the current Account Statement if that New unbilled Cash Advances; unbilled Purchases. Unless you Balance is less than $10.00; or otherwise agree, any payment must be made in money (Ii) a payment of not less than the Minimum Payment which is legal tender at the time of payment. As well, the shown on the current Account Statement if the mere lapse of the time fixed for performing an obligation New Balance shown on that Account Statement is under this Agreement will have the effect of putting us in $10.00 or more. default of it. Cc) We must also pay the amount of any Debt that 13. Service Fees and other Charges: We must pay all service exceeds the Credit Limit for a Cardholder's Account at fees and other charges that apply to a Cardholder's once to keep that Account up-to-date. We must pay this excess even though you may not yet have sent an Page 2 of 4 E-Form 80450103/2004) Account and this Agreement, as set out in the Disclosure (ii) all costs and expenses you incur in reclaiming any Statement and in any document or other written statement Card. you may send to Cardholders or us from time to time. You 19. Problems with a Purchase: Subject to Section 20., will charge them to the Cardholder's Account at the time (a) you will not be responsible for any problem a they are incurred. Cardholder has with any Purchase, and 14. Automated Banking Machines: A Cardholder may use their (b) if the Cardholder has a problem or dispute with a Card together with their Personal Identification Number to merchant regarding a Purchase, we must still pay all make transactions on their Account at those banking Debt as required by this Agreement and settle the machines and terminals you operate and at any other problem or dispute directly with the merchant. banking machines or terminals you designate from time to You will not be responsible if a Card is not honoured by a time, subject to the Cardholder's agreement with you merchant at any time and, subject to Section 20., for any governing the use of their Personal Identification Number. other problem or dispute a Cardholder may have with a 15. Debt Incurred Without a Card: If a Cardholder incurs Debt merchant. As well, you reserve the right to deny without having presented their Card to a merchant (such as authorization of any Purchase at any time. for mail order or telephone Purchase), the legal effect will 20. Account Statements, Verification and Disputes: You will be the same as if the Cardholder had used their Card and send Account Statements to each Cardholder, directed to signed a Purchase or Cash Advance draft. the Cardholder's address last provided to you by the 16. Changes to Disclosure Statement: You may change the Authorized Person. We will ensure that each Cardholder Interest Rates, service fees and other charges for each promptly examines all of their Account Statements and Cardholder's Account and this Agreement set out or each entry and balance recorded in them. referred to in the Disclosure Statement periodically. We will We will notify you in writing of any errors, omissions, or be given at least thirty (30) days prior written notice of objections to an Account Statement, or an entry or balance each change, directed to our address last appearing on your recorded in it, within sixty (60) days from the Statement records. If any Card is used or any Debt remains unpaid Date recorded on that Account Statement. after the effective date of a change, it will mean that we If we do not notify you as required,you are entitled to treat have agreed to the change. the above Account Statements, entries and balances as 17. Changes to Agreement: You may change this Agreement complete, correct and binding on us and you will be periodically. We will be given at least thirty (30) days prior released from all claims by us in respect of those Account written notice of each change, directed to our address last Statements, entries and balances. appearing on your records. If any Card is used or any Debt You may use a microfilm, electronic or other reproduction remains unpaid after the effective date of a change, it will of any Purchase or Cash Advance draft or other document mean that we have agreed to the change. evidencing Debt to establish our liability for that Debt. 18. Termination: Upon request, you will provide a microfilm, electronic or (a) You or we may terminate this Agreement at any time other reproduction within a reasonable time frame of any by giving written notice of termination to the party(ies) Purchase or Cash Advance draft or other document to be bound by that written notice. You must direct evidencing the Debt. If the item is a legitimate charge to your written notice to our address last appearing on the Cardholder's Account and the dispute is between the your records. Our written notice must be directed to Cardholder or us and the merchant, we must still pay the your address appearing on the last Account Statement Debt owing to you and settle the problem or dispute you have sent to Cardholders. directly with the merchant. If the item is not a legitimate (b) The occurrence of any one of the following events has charge, you will return the item to the merchant and credit the effect of putting us in default and you may the Cardholder's Account. terminate this Agreement at once without giving us 21. Authorized Person: Upon signing this Agreement, we will any notice, if: designate one or more individuals as an Authorized Person (i) we become insolvent or bankrupt, to assist us in the administration of this Agreement. The (ii) someone files a petition in bankruptcy against us, Authorized Person will be responsible for performing, on our (iii) we make an unauthorized assignment for the behalf, such administrative duties as you may request and benefit of our creditors, we have agreed to from time to time. (iv) we institute, or someone else institutes, any 22. Exchange of Information Between You and Us: Information proceedings for the dissolution, liquidation or about a Cardholder's use of their Account and Card, and winding up of our affairs, pertinent information about any reimbursement of Debt (v) we institute, or someone else institutes, any other received by the Cardholder from us, Cardholder type of insolvency proceeding involving our assets employment status and location, and any other related under the Bankruptcy and Insolvency Act or Cardholder tracking information may be exchanged otherwise, between you and us. (vi) we cease or give notice of our intention to cease 23. Collection and Use of Information: From time to time, to carry on business or make or agree to make a bulk sale of our assets without complying with (a) You may collect credit and other financially-related applicable laws or we commit an act of information (including information related to our bankruptcy, transactions) about us ("Information") from us, from (vii) we fail to pay any Debt or to perform any other service arrangements we have made with or through obligation to you as required under this you, from credit bureaux and other financial Agreement, institutions, and from references we have provided to (viii)we make any statement or representation to you you; that is untrue in any material respect when made, (b) You may use information as follows: or (i) give it to credit bureaux, to other financial (ix) there is, in your opinion, a material adverse change institutions, to persons with whom we have or in our financial condition. may have financial or other business dealings and, (c) Upon termination of this Agreement, we must pay all with our consent, to other parties, Debt for each Account to you at once and ensure that (if) to determine our financial situation, each Cardholder destroys their Card. If we fail to (iii) to provide us with the services we request from comply with our obligations to you under this you, and Agreement, we will be liable to you for: 'iv) give it to anyone who works with or for you, but (i) all court costs and reasonable legal fees and only as needed for providing the services we expenses (on a solicitor-client basis) you incur request from you. through any legal process to recover any Debt, and You may use our social insurance number, if applicable, for Page 3 of 4 B-Form 80450(03/2004) income tax reporting purposes if we have given that sub-Section 23.(b) above. We consent to, and accept this number to you; and as prior written notice of, your obtaining a credit report or (c) You may also use Information for the following other Information about us from time to time. purposes: (You publish a brochure about client privacy - "Straight (i) to promote your services to us and add it to client Talk®About Client Privacy" - which outlines some matters lists you prepare and use for this purpose, and relating to Information (e.g., where it is stored, how to (ii) share it with other members of RBC Financial verify or have it corrected, etc.). We may obtain a copy of Group (where the law does not prohibit) so that this brochure at any of your branches in Canada or by they may promote their services to us. calling you at the toll-free number shown above.] You may use our social insurance number, if applicable, as 24. Liability Waiver Program: The Liability Waiver Program an aid to identify us with credit bureaux and other financial applies to this Agreement and is made available at no cost institutions for credit history file matching purposes, to us. We may request you to waive, in accordance with We may tell you to stop using Information in the ways the Liability Waiver Program, our liability under Section 9. described in sub-Section 23.(c) at any time by contacting for certain unauthorized charges posted to a Cardholder's our RBC Financial Group branch or by calling you toll-free at Account. We agree to abide by the provisions of the 1-800-Royal®9-9. Liability Waiver Program as in effect from time to time. You acknowledge that the use of information in the ways 26. Counterparts: This Agreement may be executed in any described in sub-Section 23.(c) is at our option and that we number of counterparts, each of which when executed and will not be refused credit or other services just because we delivered will be deemed to be an original, and those have told you to stop using it in those ways. counterparts together will constitute one and the same For the purposes of sub-Section 23.(c)(ii), other members agreement. of RBC Financial Group include your affiliates which are 26. Complete Agreement, etc.: This Agreement constitutes the engaged in the business of providing any one or more of complete agreement between you and us with respect to the following services to the public in Canada: deposits, the subject matter hereof. No failure on your part to loans and other personal financial services; credit, charge exercise, and no delay by you in exercising, any right under and payment card services; trust and custodial services; this Agreement will operate as a waiver thereof; nor will securities and brokerage services;insurance services. any single or partial exercise by you of any right under this If we are no longer your client or this Agreement Agreement preclude any other or further exercise thereof, terminates, you may keep Information in your records so or the exercise of any other right, by you under this long as it is needed for the purposes described in Agreement. Signed as of the day of ''- �q"j by you and us Month Year CORPORATION OF THE MUNICIPALITY OF BAYHAM ROYAL BANK OF CANADA Customer Legal Na e ae-AQ Per: J • Per: LAti Name: Name: Title: { Tide: 0 Per * Per: Name. } Name: Title: e,/.:2 rik-- Title: ("I am an authorized signing officer of the Customer with authority to bind the Customer.) VISA® DISCLOSURE STATEMENT 1. General: This Disclosure Statement applies to the Account (d) Foreign Currency Fee: You will charge a currency and each Card you have issued on the Account. conversion fee equal to 2.5% of the amount of any 2. Interest Rates: The Interest Rates are set out on each Debt or other transaction not incurred in Canadian Account Statement. They are expressed as annual dollars. You will convert this Debt or other transaction percentage rates. and fee to Canadian dollars at your conversion cost in 3. Service Fees and Other Charges: The following schedule of effect on the day you post the converted Debt or other service fees and other charges applies to the Account**: transaction and fee to the Account. (a) Annual Service Fee: (e) Statement Update Fee: No charge for a copy of VISA Business: $12.00 for each VISA Business Card. Account Statement for current statement period; $2.00 for a copy of Account Statement for any other VISA Business Gold_$40.00 for each VISA Business Gold Card. statement period. $0.75 for each Account Statement VISA Business Platinum Avion: $120.00 for each VISA Business update obtained from an Account Updater'tt machine; Platinum Avion Card. $0.75 for each in-branch Account Statement update. •• Annual service fees are not refundable (f) Sales/Cash Advance Draft Copy Fee: No charge for a (b) Cash Advance Fee: (When we get a cash advance in copy of a sales or Cash Advance draft referred to in the Account Statement for the current statement Canada at any bank machine, at one of your branches in Canada, or by using RBC Royal Bank Online or period; draft2.00 for each copy c a sales orm Cash Telephone Banking) - $2.00; $5.00 for any cash Advance draft referred toer in the Account Statement for advance outside Canada, any other statement period. (No charge for any draft (c) Dishonoured Cheque Charge: $25.00 for each cheque copy to which an Account posting error applies.) or other instrument used to pay Debt that is (g) Over Limit Fee: $20.00 if the Debt exceeds the Credit dishonoured by the financial institution on which it is Limit at any time during the period covered by an drawn. (This charge is in addition to any NSF service Account Statement. fee charged by that financial institution on the NSF cheque or other instrument.) ▪ Registered trademark of Royal Bank of Canada. IN Trademark of Royal Bank of Canada. • Registered trademark of Visa international Service Association. Used under licence. * Registered trademark of Charge=Limited.Used under licence. Page 4 of 4 E-Form 12993{03120041 Royal Bank VISA* Business Card RBC'" LIABILITY WAIVER INSURANCE CERTIFICATE OF INSURANCE This certificate is a valuable source of information. Please keep indirectly in whole or in part; or it in a safe place. (b) for which the Company has reimbursed the Cardholder This insurance is provided by Royal and Sun Alliance but the Cardholder has not paid Royal Bank. Insurance. What is Royal Bank VISA Liability Waiver Insurance? Provided that such charges: The Royal Bank VISA LiabilityWaiver (I) are billed within the seventyfive (75) days Y program allows preceding the Notification of Termination of the Companies that have established one or more Royal Bank VISA Cardholder, or preceding the date Royal Bank Business Card accounts (the "Company") to request Royal receives the request from the Company to cancel Bank of Canada ("Royal Bank") to waive the Company's the Royal Bank VISA Business Card account on liability for certain unauthorized charges made by Cardholders. which Unauthorized Charges were incurred; The Royal Bank VISA Liability Waiver program will waive the (ii) are incurred but unbilled up to fourteen (14) days Company's liability for Unauthorized Charges up to $50,000 after Royal Bank has received a request to cancel per Royal Bank VISA Business Card provided that the the Cardholder's Royal Bank VISA Business Card Company complies with the terms outlined below. however the Company must have notified Royal Who Provides this Insurance? Bank within two (2) business days of the Notice This program is insured by Royal and Sun Alliance Insurance. of Termination, if any; The policy number is VC500500. (iii) are discovered not later than 75 days after the Definitions termination of "Affidavit of Waiver" shall mean a written request sent to (a) the insurance policy; or Royal Bank by mail, telegram, fax or telex from the Company (b) the insurance in respect of the Company requesting Royal Bank to waive the Company's Unauthorized whichever occurs first. Charges in accordance with the terms and conditions of this B. Auditors fees incurred with the insurer's consent solely to program. substantiate the amount of the claim. "Cardholder" is an employee over age 18 of the Company What are Not Waivable Charges? authorized to use the Royal Bank VISA Business Card for Company business purposes only. The following charges whether Unauthorized Charges or "Charges" are amounts, billed or unbilled including purchases authorized Charges are not covered by this policy: and cash advances, charged to the Cardholder's Royal Bank 1. Charges made by partners, owners, or principal VISA Business Card. shareholders who own more than five percent (5%) of the Company's outstanding shares, or persons who are not "Company" shall mean a corporation, partnership, sole employees of the Company at the time charges were incurred. proprietorship or any other entity which has signed a Royal Bank VISA Business Card Agreement with Royal Bank and for 2. Interest or fees imposed by Royal Bank on outstanding which Royal Bank subsequently issues Royal Bank VISA unpaid Charges. Business Cards and accounts for use by those Cardholders 3. In cases where Royal Bank invoices the Cardholder, any designated by the Company. amount on a cheque submitted by a Cardholder which is "Date of Notification of Termination" of a Cardholder's not paid by the Cardholder's financial institution, if the employment shall mean the date the Company gives or Cardholder has, within the last twelve (12) months, receives a written notice of immediate or pending termination submitted any other cheque to Royal Bank which was not or the date the Cardholder leaves the Company's service paid by the Cardholder's financial institution. whichever is earlier, or if the Cardholder is a member of a 4. Charges to purchase goods or services for the Company or Bargaining unit of a union and the employer contract includes bought for someone else if instructed by the Company will grievance procedures, the date the Company files a grievance not be covered. However, these charges would be with the labour arbitrator recommending the Cardholder's covered if Royal Bank bills the Cardholder directly, and the employment be terminated. Company has reimbursed the Cardholder and the "Royal Bank VISA Business Card" shall mean a Royal Bank Cardholder has not paid Royal Bank. VISA Business Card issued by the Royal Bank to a Cardholder. 5. Charges incurred by the Cardholder more than fourteen "Waiver Date" is the date on the Request for Waiver Letter (14) days after Notification of Termination or more than sent from the Company to Royal Bank. fourteen (14) days after Royal Bank receives the request What are Unauthorized Charges? by the Company to cancel the Royal Bank VISA Business Card, or immediately on the Date of Notification of A. "Unauthorized Charges" are charges to a Cardholder's Termination if the Notification of Termination was not sent Royal Bank VISA Business Card incurred by a Cardholder: to Royal Bank within two (2) business days of the Date of (a) which do not benefit the Company directly or Notification of Termination. &Form 12993(03120041 6. Charges resulting from either a lost or stolen Royal Bank Notification of Termination date or the date of the VISA Business Card or charges to a Royal Bank VISA Company's intention to cancel the Cardholder's Royal Bank Business Card account which is closed, frozen or ninety VISA Business Card and all claim documents must be filed 190) or more days delinquent. with the insurance underwriter within six (6) months from 7. Cash advances, after the Date of Notification of the Cardholder's Date of Notification of Termination. Termination or immediately after Royal Bank receives the 5. The Company must promptly give written notice to Royal request by the Company to cancel the Royal Bank VISA Bank in cases where Royal Bank invoices the Cardholder, if Business Card, in excess of $300.00 per day per the Company knows or should know that a Cardholder is Cardholder, or a maximum of $1,000.00 per Cardholder, receiving reimbursement for Charges but is not paying whichever is less. Royal Bank for those Charges. 8. Any interest on money owing. 6. If the Company recovers any amounts for Unauthorized What are the Responsibilities of the Company? Charges from any source after the Company has filed an Affidavit of Waiver with Royal Bank, the Company will The Company may request Royal Bank to waive the Company's remit all such amounts to Royal Bank. The Company liability for Unauthorized Charges only if the Company meets all agrees to assign any rights it may have to collect such of the following requirements: amounts from the Cardholder to Royal Bank. The Company 1. The Company must use its best efforts to retrieve the agrees to assign any rights it may have to collect such Cardholder's Royal Bank VISA Business Card from the amounts from the Cardholder to the Insurer. employee and must notify Royal Bank in writing to cancel 7. The Company will not name any person to receive a Royal the Royal Bank VISA Business Card within two (2) Bank VISA Business Card on any of its present or future business days of the Date of Notification of Termination or accounts if that person has been named at any time by the its intention to cancel the Cardholder's Royal Bank VISA Company in an Affidavit of Waiver or has been found guilty Business Card. by a court of competent jurisdiction. 2. The Company must notify Royal Bank in writing to cancel Other Insurance the Royal Bank VISA Business Card within two (2) business days of the Date of Notification of Termination or This program does not cover losses that are covered by other immediately of its intention to cancel the Cardholder's insurance, and/or, losses that would have been paid if this Royal Bank VISA Business Card. The letter must state: program did not exist. Losses that are above those covered by (a) That the Company requests the waiver of other insurance as noted, but less than the limit of this coverage are eligible for payment. This certificate is not a Unauthorized Charges; contract of insurance. It contains only a summary of the (b) The Cardholder's name, Royal Bank VISA Business principal provisions of the policy. In the event of any conflict Card number, and last known business and home between the description of coverage in this certificate and the address policy, the policy will govern. (c) If applicable, that the Cardholder's employment has Termination terminated and the Date of Notification of Termination; Coverage under this policy will automatically terminate on the (d) In cases where Royal Bank sends its statements to the earliest of the following: Cardholder directly, that the Company has contacted 1) the date the Company's Royal Bank VISA Business Card the Cardholder in writing and directed the Cardholder Agreement with Royal Bank is cancelled; or to immediately pay all outstanding Charges to Royal Bank; 2) the date the Policy terminates, or; (e) Whether the Royal Bank VISA Business Card was 3) thirty (30) days after Notice of Termination by Royal Bank. retrieved from the Cardholder and, if so, confirmation Misstatement that such card is in its possession or is enclosed Any fraud, misstatement or concealment by the Company therein. either in regard to any matter affecting this insurance or in Failure to notify Royal Bank in writing within two (2) connection with the making of a claim shall render this business days of the Date of Notification of Termination or insurance null and void. immediately of its intention to cancel the Cardholder's Currency Royal Bank VISA Business Card will exclude coverage for any Charges incurred after the request to cancel the Royal All claims will be paid in Canadian dollars. Bank VISA Business Card. Inquiries 3. The Company must deliver to the Cardholder or send by Please direct any claim inquiries to: firstclass mail, fax or telegram, a written notice stating that the Cardholder's Royal Bank VISA Business Card has Royal and Sun Alliance Insurance Company of Canada been cancelled, that the Cardholder should immediately Attention: Claims Management Services discontinue all use of that Royal Bank VISA Business Card, Sheridan Insurance Center that the Cardholder must immediately pay any outstanding 2225 Erin Mills Parkway, Suite 1000 amounts owed to Royal Bank, and that the Cardholder Mississauga, Ontario must immediately return the Royal Bank VISA Business L5K 259 Card to the Company. 4. An officer, or other authorized official of the Company Within the Toronto Region telephone (905) 403-2283 must send an Affidavit of Waiver to Royal Bank by mail, Outside the Toronto Region telephone 1-800-544-2971 fax or telegram within thirty (30) days of a Cardholder's Please refer to the program and the policy number: VC500500. TM Trademark of Royal Bank or Canada. •Registered trademark of Visa International Service Association.Used under licence.