Terms and Conditions of the Cashable Guaranteed Investment Certificate (GIC)
1)   For value received, The Equitable Trust Company (the Company) guarantees the repayment to the registered owner, of the principal and interest as follows:
 
I)   The Principal outstanding is cashable at any time, with interest at face rate paid after 30 days.
II)   No interest will be paid if the GIC is redeemed within 30 days of issue.
III)   Partial redemptions of $5,000 or more are allowed, provided that at least $5000 principal remains. Interest earned on the part redeemed is paid at the time of the partial redemption.
IV)     The interest paid is calculated by dividing the annual amount that would be payable on the Principal to be redeemed at the stated rate by 365, and multiplying by the number of days from the issue date to the maturity date or redemption date, if earlier.
2)   In consideration of the Guarantee, the Company shall retain the profits resulting from the investment of the principal in excess of the interest payable.
3)   Upon repayment of the principal and interest, the securities and cash held with respect thereto shall be freed from the terms of this trust without any assignment or release from the registered owner.
4)   Where the registered owner is two or more persons, the word “jointly” or words or initials to that effect appearing after the names of the persons, means that such persons own the principal as joint owners with right of survivorship and not as tenants in common.
5)   Where the words “and/or”, “&or”, or “or” appear between the names of two or more persons, who are the registered owner, interest and principal may be paid to or to the order of any one of them and the receipt of such payment shall be a valid discharge. The Company may take instructions from, or deal with, any joint owner on all matters concerning the investment. The registered owner(s) further agrees to jointly and severally indemnify the Company against all claims arising as a result of payments authorized by the registered owner.
6)   The Company will only accept instructions from the named trustee for any investments held in trust, even if the Company has no evidence that the Trust is formally established.
7)   The confirmation need not be presented for repayment or renewal, but appropriate instructions must be received by the Company prior to maturity or the investment will be renewed for the same term to a maximum of one year, at the interest rate applicable on the maturity date for that term and payment frequency.
8)   The Guaranteed Investment is not negotiable, transferable or assignable.
9)   Interest will only be paid by pre-authorized deposit when monthly payments are requested. If appropriate instructions are not forthcoming or not valid, then the Company will convert the payment frequency to quarterly and adjust the interest rate accordingly.
10)   Pursuant to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, the Company is required, in certain circumstances, to report any “suspicious transactions” to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), a government agency. Suspicious transactions are transactions which may relate to money laundering and the financing of terrorist activities. The Company reserves the right not to accept the Guaranteed Investment if the identification supplied for each party does not comply with the Company’s requirements.
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11)   By having applied for this Guaranteed Investment, the Registered Owner and any declared Third Party agree to the terms of The Equitable Trust Company Privacy Policy * and consent to the collection, use, retention and disclosure by the Company of the personal information provided to it.
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*To receive a copy of our Privacy Policy, Deposit Register, Complaint Procedures, and information about the Financial Consumer Agency of Canada, please call 416-515-7000 or see the Company’s website at www.equitabletrust.com. If you have an unresolved problem with Equitable Trust, please contact us by phoning our Complaint Line at 416-515-2293.                                                     R612

 


Ce confirmation peut être obtenu en français.


Notre dépliant de plaintes et de vie privée peut être obtenu en français.

   


Terms and Conditions of the Non-Redeemable (Regular) Guaranteed Investment Certificate (GIC)
1)   For value received, The Equitable Trust Company (the Company) guarantees the repayment to the registered owner, of the principal on the maturity date and the payment of interest as follows:
 
I)   Where the frequency of payment is more than annual, the interest paid is calculated by dividing the amount that would be payable annually at the stated interest rate, by the frequency.
II)   II) Where interest is paid at maturity and the investment is for less than one year, or where the final interest period is less than the frequency stated, the interest paid is calculated by dividing the annual amount that would be payable at the stated rate by 365, and multiplying by the number of days in the final interest period.
III)   Where interest is paid at maturity and the investment is for more than one year, the interest is compounded annually at the stated rate.
IV)    The last two interest payments may be combined if due less than 7 days apart.
2)   In consideration of the Guarantee, the Company shall retain the profits resulting from the investment of the principal in excess of the interest payable.
3)   Upon repayment of the principal and interest, the securities and cash held with respect thereto shall be freed from the terms of this trust without any assignment or release from the registered owner.
4)   Where the registered owner is two or more persons, the word “jointly” or words or initials to that effect appearing after the names of the persons, means that such persons own the principal as joint owners with right of survivorship and not as tenants in common.
5)   Where the words “and/or”, “&or”, or “or” appear between the names of two or more persons, who are the registered owner, interest and principal may be paid to or to the order of any one of them and the receipt of such payment shall be a valid discharge. The Company may take instructions from, or deal with, any joint owner on all matters concerning the investment. The registered owner(s) further agrees to jointly and severally indemnify the Company against all claims arising as a result of payments authorized by the registered owner.
6)   The Company will only accept instructions from the named trustee for any investments held in trust, even if the Company has no evidence that the Trust is formally established.
7)   The principal may only be redeemed prior to maturity, together with accrued interest, upon the death of the registered owner or the life tenant of an estate whose name has been recorded on the Company’s confirmation at the time of application.
8)   The confirmation need not be presented for repayment or renewal, but appropriate instructions must be received by the Company prior to maturity or the investment will be renewed for the same term to a maximum of one year, at the interest rate applicable on the maturity date for that term and payment frequency.
9)   The Guaranteed Investment is not negotiable, transferable or assignable, except in the case of a transfer to or from a nominee, between nominees, or to the beneficiaries or the estate of a deceased owner.
10)   Interest will only be paid by pre-authorized deposit when monthly payments are requested. If appropriate instructions are not forthcoming or not valid, then the Company will convert the payment frequency to quarterly and adjust the interest rate accordingly.
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11)   Pursuant to the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, the Company is required, in certain circumstances, to report any “suspicious transactions” to the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), a government agency. Suspicious transactions are transactions which may relate to money laundering and the financing of terrorist activities. The Company reserves the right not to accept the Guaranteed Investment if the identification supplied for each party does not comply with the Company’s requirements.
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12)  By having applied for this Guaranteed Investment, the Registered Owner and any declared Third Party agree to the terms of The Equitable Trust Company Privacy Policy * and consent to the collection, use, retention and disclosure by the Company of the personal information provided to it.
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*To receive a copy of our Privacy Policy, Deposit Register, Complaint Procedures, and information about the Financial Consumer Agency of Canada, please call 416-515-7000 or see the Company’s website at www.equitabletrust.com. If you have an unresolved problem with Equitable Trust, please contact us by phoning our Complaint Line at 416-515-2293.                                                     R612

 


Ce confirmation peut être obtenu en français.


Notre dépliant de plaintes et de vie privée peut être obtenu en français.