EQ Bank Guaranteed Investment Certificate (GIC) Agreement

 

By completing the online application for the purchase of an EQ Bank GIC and contributing to your EQ Bank GIC, you understand and agree to be bound by the GIC terms and conditions below. You confirm you received our disclosure Documents and agree to be bound by the terms of these Documents including any periodic changes or replacements made by us.

If you are completing an online application for the purchase of an EQ Bank Business GIC, by doing so you also confirm that you have the power and authority, acting alone, to agree to this GIC Agreement and to legally bind the business.

Please ensure you review this GIC Agreement and all other related or referenced Documents carefully as they affect your rights and set out certain obligations and expectations on your part. If you have any questions related to this Agreement and other Documents, please contact us.

Please retain a copy of this GIC Agreement for your records.

EQ Bank GIC

The EQ Bank GIC is an investment that offers a set interest rate over a fixed period of time and operates in Canadian currency. EQ Bank agrees to repay the principal amount of the deposit, with interest, in accordance with the terms and conditions of this Agreement. The EQ Bank GIC is not redeemable before maturity.

EQ Bank Personal GICs are intended for personal use only. If you hold an EQ Bank Personal GIC, you agree to operate your EQ Bank Personal GIC as a personal investment and understand that if we suspect you are using your EQ Bank Personal GIC for business or non-personal purposes, we have the right to refuse to process any transactions in connection with your EQ Bank Personal GIC and we have the right to immediately terminate your EQ Bank Personal GIC in accordance with the terms of this Agreement.

EQ Bank Business GICs are intended for business use only. If you hold an EQ Bank Business GIC, you agree to operate your EQ Bank Business GIC as a business investment and understand that if we suspect you are using your EQ Bank Business GIC for personal or non-business purposes, we have the right to refuse to process any transactions in connection with your EQ Bank Business GIC and we have the right to immediately terminate your EQ Bank Business GIC in accordance with the terms of this Agreement.

By opening a GIC with us, you agree to receive all communication and documents related to your EQ Bank GIC in electronic format.

Definitions in this GIC Agreement

Agreement” or “GIC Agreement” means this EQ Bank GIC Agreement;

Alert Messages” means the automated security alert messages and opt-in alert messages that we may send to you securely through the Message Center accessible within the Services or by regular email to your primary email address or by text (SMS) message to your mobile phone number;

Documents” means (i) the documents and agreements provided to you electronically in connection with the purchase of your EQ Bank GIC including those outlined below in Section 1 under Consent for Delivery of Electronic Documents and (ii) agreements and disclosure documents you receive(d) electronically when you opened your EQ Bank Personal Account (“Personal Account”) and/or your EQ Bank Business Account ("Business Account”) as applicable, as either (i) or (ii) may be amended from time to time. This also includes interest, fees, privacy and complaint related disclosure documents, notifications, and any other document that is available on our Website or Online or Mobile Banking applications;

Effective Date” means the date on which the GIC Term begins, as further explained in this Agreement;

Electronic Device” means any electronic device that we allow you to use to access our Services (for example, certain computers, cellular phones, telephones, smart phones, tablets or other similar devices);

EQ Bank”, “the Bank”, “Bank”, “our”, “we” or “us” means Equitable Bank;

EQ Bank Business GIC” means one or more of EQ Bank’s business guaranteed investment certificate products which includes a GIC purchased within your EQ Bank Business Account;

EQ Bank FHSA” means the EQ Bank First Home Savings Account;

EQ Bank GIC” or “GIC” means EQ Bank Personal GIC(s) and/or EQ Bank Business GIC(s), as applicable.

EQ Bank Personal GIC” means one or more of EQ Bank’s personal guaranteed investment certificate products which includes a GIC purchased within your RSP Plan, your EQ Bank TFSA or your EQ Bank FHSA;

EQ Bank TFSA” means the EQ Bank Tax Free Savings Account;

GIC Term” means the period during which you earn interest on your EQ Bank GIC, commencing on the Effective Date and running until, but not including, the Maturity Date;

includes” or “including” means includes or including, as applicable, but not limited to;

Instruction” means an instruction by you that is electronically communicated to us after electronic identification and/or security question authentication through our Online or Mobile Banking or customer care centre;

Maturity Date” means the date on which your EQ Bank GIC matures, as further explained in this Agreement;

Message Centre” means a secure messaging inbox, accessible through EQ Bank Online or Mobile Banking;

Mobile Banking” or “Mobile” means the mobile application, specifically designed by us or a Third Party Service Provider, through which you may sign on to the Services;

Online Banking” or “Online” means the Website through which you may sign on to the Services;

RSP Plan” means the EQ Bank Retirement Savings Plan;

Service(s)” means Mobile and Online Banking, which can be accessed by an Electronic Device;

Third Party Service Provider” means a party retained by us to act on our behalf to provide or to assist us in providing our services;

Website” means eqbank.ca; and

You”, “your”, “client”, “customer”, “business” or “GIC Holder” means the registered holder of the GIC.

Customer eligibility and GIC investment requirements

To be eligible to open and invest in an EQ Bank Personal GIC with us, you must: (i) be a Canadian resident with a permanent Canadian address; and (ii) meet the age of majority in your province or territory of residence. 

We ask that you open a Personal Account with EQ Bank to fund your EQ Bank Personal GIC.  You are not at any time required to use the Personal Account for any other purpose than to fund your investments. There are no fees or costs associated with opening the Personal Account. However, if you do wish to use the Personal Account, the terms and conditions applicable to the Personal Account will apply.

To be eligible to open and invest in an EQ Bank Business GIC with us, you or your business, as applicable, must: (i) be a Canadian resident with a permanent Canadian address; (ii) meet the age of majority in your province or territory of residence; and (iii) be a Canadian business with a Canadian address.

We ask that you open a Business Account with EQ Bank to fund your EQ Bank Business GIC. You are not at any time required to use the Business Account for any other purpose than to fund your investments. There are no fees or costs associated with opening the Business Account. However, if you do wish to use the Business Account, the terms and conditions applicable to the Business Account will apply.

You can only buy a GIC for yourself and not on behalf of, or for the benefit of, another individual or business. We do not offer joint EQ Bank GICs at this time.

You are responsible for maintaining a valid email address as part of your profile with us and are responsible for notifying us immediately of any changes to your email address or any other personal or business information you have previously provided us, as applicable. You can access your GIC using the same login ID and password you use to access your Online or Mobile Banking. You will not permit anyone else to use your login ID and password and will keep it private and confidential. All funds invested into or withdrawn out of your GIC must be withdrawn from or deposited to your Personal Account, your Business Account, your RSP Savings Account, your TFSA Savings Account or your FHSA Savings Account, as applicable.

You agree to provide any records that may be required to purchase a GIC with us, and its continued operation under federal and/or provincial/territorial law, including any related regulations and/or guidelines.

Should you fail to satisfy any of our GIC investment requirements, whether as specified in this GIC Agreement or otherwise, we reserve the right to refuse your GIC investment.

You must maintain your status as a Personal Account holder or Business account holder, as applicable, in order to be or remain eligible to maintain and invest in an EQ Bank GIC. Similarly, you must maintain an RSP Savings Account in order to remain eligible to maintain and invest in an RSP GIC within your RSP Plan, you must maintain a TFSA Savings Account in order to remain eligible to invest in a TFSA GIC within your EQ Bank TFSA and you must maintain an FHSA Savings Account in order to remain eligible to invest in an FHSA GIC within your EQ Bank FHSA. 

Should, for whatever reason, you fail to maintain your eligibility we may, at our option, terminate your GIC and pay to you the principal amount owed in connection with the GIC by EFT or by cheque mailed to the most current mailing address that we have on file for you. No interest will be paid to you in connection with the terminated GIC and we will recover any interest amounts that may have been paid to you by deducting those amounts from the principal balance of the GIC.

Privacy agreement

By purchasing an EQ Bank GIC with us, you consent to and understand that personal information relating to your GIC is governed by the Equitable Bank Privacy Agreement. The Privacy Agreement may be amended or replaced from time to time.

The Privacy Agreement forms part of the GIC Agreement, and your acceptance of the terms of the GIC Agreement indicates that you also agree to the terms of the Equitable Bank Privacy Agreement. A copy of our Privacy Agreement is available on our Website. It is important that you review our Privacy Agreement carefully prior to purchasing an EQ Bank GIC.

We reserve the right to comply with any third party demands which have been issued under federal or provincial/territorial legislation, or any court order we receive in respect of your GIC. You agree that we will not be liable to you in any way for complying with any such third party demands or court orders issued on or against your GICs.

Currency

All currency amounts referred to in this GIC Agreement are in Canadian dollars.

Minimum and Maximum Investment Limits

Please refer to our EQ Bank Personal GIC Features for further information on EQ Bank Personal GIC-related limits and our EQ Bank Business GIC Features for further information on EQ Bank Business GIC-related limits.

Singular and Plural

Words denoting the singular shall include the plural and vice versa.

Effective and Maturity Dates

Your GIC’s Effective Date will be the date of your purchase. The Effective Date will be confirmed at the time you purchase your GIC.

The Maturity Date of your GIC will be the day after your GIC Term ends. You will be notified of the Maturity Date at the time you purchase your GIC.

Note: Effective and Maturity Dates are based on Eastern Time; for example, a purchase made at 10:00 p.m. Pacific Time will be considered to be made at 1:00 a.m. Eastern Time the next day.

Processing requests

EQ Bank will make every attempt to process requests to invest in a GIC submitted through our Online Banking or Mobile Banking services within 24 hours of receiving such request. All online transactions will be deemed to have been provided and will be processed under Eastern Time.

Interest

For GIC Terms of less than one year, simple interest is calculated on a per diem basis and paid at maturity.

For GIC Terms of one year, simple interest is calculated on a per annum basis and paid at maturity.

For GIC Terms of over a year where interest is paid at maturity (which includes all GICs that are purchased within your RSP Plan, your EQ Bank TFSA or your EQ Bank FHSA), interest is calculated on a per annum basis and compounded annually. 

For GIC Terms of over a year where interest is paid annually, simple interest is calculated on a per annum basis.

For 15 month and 27 month GIC Terms, interest is calculated on a per annum basis, compounded annually and paid solely at maturity.

In all cases, interest is accrued for the entire GIC Term. You will not earn interest on the Maturity Date.

Except where otherwise specifically stated, GIC Terms of one year or longer have interest calculated on the basis of 365/366 days and compounded and/or paid annually.

Except where otherwise specifically stated, GIC Terms of less than one year, where offered, have interest calculated on the basis of 365/366 days and paid at maturity.

No Redemption prior to Maturity Date

EQ Bank GICs are not redeemable. Funds deposited in an EQ Bank GIC cannot be accessed prior to the Maturity Date.

Treatment at Maturity

On the Maturity Date, the principal and any accrued interest on your investment that has not already been paid to you will be deposited to the Personal Account or Business Account from which your initial investment was funded or, in the alternative and in our sole discretion, another account you have with EQ Bank. In the case of a GIC purchased within your RSP Plan, your EQ Bank TFSA or your EQ Bank FHSA, the principal and any accrued interest on your investment will be deposited to your savings account with your RSP Plan, EQ Bank TFSA or EQ Bank FHSA, as applicable.

GIC Alert Messages

After each purchase of a GIC, EQ Bank will send you an Alert Message via email or SMS text, confirming details of your GIC, and which will contain a link to the most current GIC Agreement as may be amended or updated at that time. Full details of your GIC can be viewed at any time via Online or Mobile Banking.

Option to Cancel GIC Purchase

You may cancel your purchase of an EQ Bank GIC within one day after the Effective Date without penalty and you will be entitled to a refund of all principal invested. You will not receive a payment of interest. Please contact us by telephone at the number below or sign into Online or Mobile Banking to cancel your purchase of an EQ Bank GIC within the time period prescribed.

Toll Free Phone: 844-437-2265 (844-4EQ-BANK)

Fees

There are no fees associated with your GIC.

Assignment or Transfer

Your GIC may not be assigned and is not negotiable or transferable by you.

GIC transaction records

Your GIC transactions and balances are available online in electronic format and can be accessed directly from Online or Mobile Banking.

You understand and agree that paper copies of your GIC transactions and balances will not be provided by us.

You agree to notify EQ Bank

You agree to review your transaction history carefully to ensure that:

  • All transactions and balances are correct;
  • All amounts paid from your GIC or invested in your GIC are valid and duly authorized;
  • Should you notice any errors, omissions, irregularities or discrepancies you must notify us within 30 days of the transaction record, otherwise we will consider your GIC records to be accurate; and
  • If we mistakenly credit an amount to you in connection with your GICs, we can correct that error at any time.

Further Obligations

You agree to take full responsibility for your Electronic Device and anybody using it. Please review the EQ Bank Mobile and Online Banking Terms and Conditions in its entirety which can be found on our Website.

Electronic transactions

You are responsible for ensuring that there are enough funds in your Personal Account or Business Account, as applicable, required to cover any electronic transactions you may initiate when investing in or managing your GICs.

Electronic transaction requests may be made through Online or Mobile Banking, and by other methods made possible by us, from time to time.

We, in our sole discretion, may deem a transaction (including a purchase) to be fraudulent or counterfeit. If this occurs, the transaction request will not be processed and, as applicable, funds will not be returned to you.

We may establish dollar amount, transaction, balance or other GIC-related limits per customer. These limits may change at any time and without prior notice to you. If you attempt a transaction that is in excess of these limits, we may reject the transaction. Please refer to our EQ Bank Personal GIC Features for further information on EQ Bank Personal GIC-related limits and our EQ Bank Business GIC Features for further information on EQ Bank Business GIC-related limits.

GIC Holder access

We will accept Instructions for the GIC directly from the GIC Holder. We are not obligated to recognize anyone other than the GIC Holder as having any interest in the GIC nor are we required to gain permission from another person unless third party access has been expressly authorized by you and we have consented to such access. However, we may act in accordance with instructions from your legal representative(s) (such as a Power of Attorney or Executor), if such person demonstrates legal authority to act on your behalf.

Third party access allows another person (i.e. your legal representative) to provide us with instructions related to your GIC which we will in turn act upon. For EQ Bank Personal GICs, third party access is given to clients who need assistance with managing their GIC, or are physically unable to access their GIC. In order to allow a third party to access your GIC, you will need to provide the appropriate authorization.

In the event that we are served with a court order which directs us to place a hold on funds in, or to be deposited in, a GIC, or which otherwise extends to or deals with such funds or the GIC, notwithstanding anything to the contrary contained herein, we may take any and all steps we deem necessary to lawfully comply with the court order and, in doing so, will in no way be liable to you.

Rights of set-off

We have the right under the law (called “Set-Off”) and under this GIC Agreement to use funds in your GIC(s) to pay any outstanding debts or other obligations you owe to us, such as a withdrawal resulting in a dishonored payment. You understand and agree to allow us to use some or all of the funds in your GIC to pay any debts that you owe us without prior notice to you. If we choose to exercise the right of Set-Off we have the right to terminate your GIC in accordance with the terms of this Agreement. In the event your GIC is terminated we may, at our option, transfer the balance to your Personal Account or Business Account, as applicable, or mail a cheque to the address we have on file for you, that amount, less any outstanding debts or other obligations you owe us. This right of Set-Off does not apply to GICs in your RSP Plan, EQ Bank TFSA or EQ Bank FHSA.

Termination of GIC investments

You acknowledge that we may, in our sole discretion, terminate your option to participate in our EQ Bank GICs. In the event your GIC privileges are terminated we will notify you in writing to the address we have on file for you.

On termination of your EQ Bank GIC, no interest will be paid to you and we will recover any interest amounts that have been paid to you by deducting those amounts from the principal balance of your GIC. Any amounts owing to you on termination will be deposited to the Personal Account or Business Account from which the initial investment was funded (or RSP Savings Account, TFSA Savings Account or FHSA Savings Account, as applicable) or, in the alternative and in our sole discretion, another account you have with EQ Bank or by cheque mailed to the most current mailing address that we have on file for you.

Upon your death or incapacity, we are authorized to take steps or restrict transactions to your  EQ Bank Personal GIC which we deem prudent or advisable. In all cases, you (or your estate) will continue to remain responsible for any transaction relating to your EQ Bank Personal GIC. Your estate representative will have the same rights, responsibilities and obligations under this GIC Agreement as you, the EQ Bank Personal GIC Holder, unless we determine otherwise.

Upon the dissolution of your business or a change in ownership, we will terminate your EQ Bank Business GIC in accordance with this section.

Changes to this GIC Agreement

Changes to this GIC Agreement (including replacing it with another agreement) may be made by us at any time, without prior notice to you, unless advance notice is required by law. When changes are made, notice of the change will be sent to you at the email address in your profile with us, posted on the Message Centre, or posted on the Website. You agree that if you access or have funds on deposit in any GIC, you will be deemed to accept the change. You can obtain a copy of the current GIC Agreement by visiting our Website.

You acknowledge that we may, from time to time, make special offers or promotions available to some or all of our customers with or without notice. You acknowledge that we reserve the right to amend, withdraw, suspend or terminate such special offers or promotions in our sole discretion without notice.

Conflict of terms

If there is any conflict or inconsistency between the terms of the GIC Agreement and the terms in any other agreement between you and us, the terms of the GIC Agreement will prevail for the purposes of the EQ Bank GICs and the parties shall take any necessary steps to conform the inconsistent terms to the terms of the GIC Agreement for such purposes.

Limitation of liability

You expressly understand and agree that in no event shall we be liable for any direct, indirect, incidental, punitive, special, or consequential damages, or any damages whatsoever, including, without limitation, damages for loss of profit, arising out of your use of or any malfunction, cancellation, restriction or inability to use your GIC. For greater certainty, you agree that we may take any action authorized or permitted by this GIC Agreement without being liable to you, even if such action causes you to incur a loss.

Indemnity

You acknowledge and agree to indemnify (protect), and hold us, our officers, directors, employees, agents and affiliates harmless (innocent) from and against any loss, liability, cost or expense of any kind that any of the aforementioned parties may incur in connection with any product or service we may provide you or that may result from any dealings between you and us, including any claim or liability for payment of a forged or altered item.

Liability for forgeries

In addition to the above, you acknowledge that we will not, under any circumstance, be liable to you for any loss, even if we are notified within the time periods required by this GIC Agreement (under ‘You Agree to Notify EQ Bank’), arising from:

i) a forged or unauthorized endorsement, impersonation or any material alteration of an instrument; or

ii) instructions we act on;

unless you have established to our satisfaction that you are not responsible for the disputed item and that you took all reasonable steps to prevent the forgery or impersonation and the resulting loss, and that despite that fact, the loss was unavoidable.

You agree to cooperate fully with us in any investigation that may be required including any police investigation. Any liability that may be owed by us will be limited by a maximum liability equal to the amount of the disputed item.

Consent for delivery of electronic documents (“Consent”)

The following terms and conditions apply to the electronic delivery of Documents to you relating to your EQ Bank GICs.

1. Giving Your Consent

You consent to the electronic delivery of Documents and other information through the Message Centre, fax, email, SMS/text message, or by posting on our corporate website (equitablebank.ca) or Website (eqbank.ca). Documents include:

  • Notifications containing legal disclosures, including the disclosure requirements prescribed by the Bank Act, all provincial and federal Securities, Privacy and Tax statutes and regulations and all Voluntary Codes of Conduct and Public Commitments applicable to the financial industry;
  • Changes to any interest rate(s), fee(s), and any other items mentioned in the Documents we send you for new GICs or other products or services;
  • Changes/Amendments to the GIC Agreement, products or services;
  • Communications about the terms and conditions of this Consent, including changes and confirmations;
  • Communications on any current promotions, if applicable; and
  • Any other confirmation, notice or information that we are required by law to provide you in writing relating to your GIC.

2. When Your Consent Takes Effect

This Consent applies to your GIC and shall take effect as soon as you apply for the purchase of your EQ Bank GIC.

3. Electronic Delivery of Documents

When we deliver a Document electronically, we will do so by making it available to you through our Website (eqbank.ca), our secure Online Banking site, which may include through our Message Centre accessible after you have been identified electronically through our Online or Mobile Banking services, or via email. EQ Bank will send you Alert Messages, notifications or other communications by email or SMS/text message, including:

  • Alerts and requests for information in relation to identity theft and other fraud or security-related activities;
  • Requests for information that may be required in connection with EQ Bank’s obligations under anti-money laundering rules, know your client rules or other legal obligations;
  • Communications arising from all manner of legal actions, causes of action, complaints, claims, applications to administrative tribunals, legal demands or otherwise;
  • Alerts providing you with reminders or GIC investment-related instructions or information, including but not limited to, upcoming maturity and confirmation notices, changes to terms and conditions; and
  • Other GIC-related alerts requested by you.

You agree that receipt of these notifications, alerts and other communications by email as determined by EQ Bank is a mandatory and integral part of your GIC Agreement and your management of your EQ Bank GIC. You acknowledge and understand that your use of our Online or Mobile Banking is governed by our EQ Bank Mobile and Online Banking Terms and Conditions and that you can retain a copy of documents delivered electronically by printing or downloading them.

4. Retention Period

GIC information is available for download through Online Banking only. This information will be available for seven years after payout.

We will keep a copy of all other Documents provided to you for the entire time you maintain your GIC with us and for a minimum period of five years after you cease to maintain your GIC with us.

5. Your Obligations

You agree to review the Documents we send you electronically within 30 days of receipt. You confirm that you have the necessary technical ability and resources to do this. You also acknowledge that technical and security requirements for access to our Website and Services or your email (or for viewing the Documents themselves) may change from time to time. You also confirm that you will notify us immediately of any changes to your contact information (including email address).

6. Revoking Consent

You may revoke your consent for electronic delivery of Documents for your GIC only by no longer holding an EQ Bank GIC. We reserve the right to provide you with Documents by paper delivery if we are unable to provide electronic delivery, have reason to believe you may not have received the Document, or if we, in our sole discretion, otherwise consider it appropriate. Any paper delivery will be provided to you at the most current mailing address that we have on file for your Personal Account or Business Account, as applicable.

7. Changing This Consent

We may change the terms and conditions of this Consent from time to time by providing you with notice of change through electronic or paper delivery. You agree that your subsequent use of our products and services means you agree to and accept the revised terms and conditions.

8. Limitation of Liability (related to electronic delivery of documents)

You agree that your notifications and delivery of Documents electronically may be delayed, not delivered or inaccurate due to a variety of factors, including technical problems. To the extent permitted by the laws of Ontario and the laws of Canada, we will not be liable for any direct or indirect damages arising out of your use or inability to use the notifications and Documents, regardless of the cause, including negligence, even if we are advised of the possibility of such damages. For fax and e-mail transmissions, you accept the risk that certain notifications and Documents may be lost, intercepted, reviewed or altered by others.

Deposit insurance

EQ Bank is a trade name of Equitable Bank. Equitable Bank is a member of the Canada Deposit Insurance Corporation (CDIC). Deposits made under EQ Bank and Equitable Bank are aggregately eligible for CDIC protection up to $100,000, per insured category, per depositor, and provided such deposits are payable in Canada, as outlined in CDIC’s “Protecting your Deposits”. For clarity, deposits made by sole proprietorships are protected. They a re not considered separate and distinct from the sole proprietor (the individual). Eligible deposits under sole proprietorships are combined with those of the sole proprietor. To learn more visit the CDIC’s website at www.cdic.ca or contact them directly at info@cdic.ca or 1-800-461-2342.

Complaints or concerns

We are committed to delivering a high standard of service to our customers. If you have a concern or a complaint about your GIC or any service we provide, we want to hear from you so that we can try to make things right as quickly and efficiently as possible. Our  Customer Complaint Handling Procedures set out full details of our process and are available on our Website and in our offices.

EQ Bank Contact Information

Should you have any further questions about an EQ Bank GIC, please contact us by telephone or email as set out below.

Toll Free Phone: 844-437-2265 (844-4EQ-BANK).

Email: contact@eqbank.ca

If you would like to send us information by mail please use the following address:

Head Office:
Equitable Bank
Equitable Bank Tower

30 St. Clair Avenue West, Suite 700
Toronto, Ontario M4V 3A1

You can find more information about us and about our products (including our GICs) on our Website at: www.eqbank.ca

Arbitration

Arbitration is an efficient and cost effective way to resolve claims. To the extent permitted by applicable law, you agree that any claim, dispute or controversy that arises from or relates to (a) your use of EQ Bank GIC(s), (b) advertisements, promotions or oral or written statements related to your EQ Bank GIC or (c) and other benefits or services related to your EQ Bank GIC will be resolved by way of binding arbitration.

Arbitration will follow the National Arbitration Rules of the ADR Institute of Canada Inc., or its successors (the “Arbitrator”). We reserve the right to change or replace the Arbitrator, at our sole discretion. Arbitration will take place in the province or territory where you reside and any decision rendered will be final and binding. Each party has the right to appeal the Arbitrator’s decision to an appeal panel administered by the Arbitrator provided it gives the Arbitrator notice of its intention to appeal within 30 days from the date of the written arbitration decision. The appeal decision will be final and binding, there will be no further appeal and you acknowledge that it will be considered as a final award.

If you do commence arbitration proceedings you acknowledge that it will only relate to your claim and cannot be on behalf of anyone else or anyone else’s claim and that the Arbitrator will have no jurisdiction or authority to consider any claim you commence if it appears that it is in any way on behalf of any other person or group or persons.

Severance

If any part of this GIC Agreement is held to be unenforceable for any reason, the unenforceable portion of the GIC Agreement will not affect the enforceability of the remainder of the GIC Agreement, which will continue in full force and effect as if this GIC Agreement had been executed without the unenforceable portion.

Language

For Québec residents only: You acknowledge and agree that you have first been presented with and have examined the French version of this Agreement, and that you then have expressly requested that this Agreement, and all related documents including notices, be drawn up in the English language and that you wish to and agree to be bound by the English version of this Agreement. Vous reconnaissez et convenez que la version française de la présente entente vous a d'abord été présentée et que vous l'avez examinée, et que vous avez ensuite expressément demandé que la présente entente et tous les documents connexes, y compris les avis, soient rédigés en anglais et que vous souhaitez être lié par la version anglaise des présentes et que vous acceptez de l'être.

Jurisdiction

This GIC Agreement, the Services, and the operation of the GICs will be governed by and construed in accordance with the laws of the Province of Ontario and the laws of Canada. You hereby submit to and are bound by those laws and the courts of Ontario.

Equitable Bank marketing names

EQ Bank is a marketing brand name (or trade name) used by Equitable Bank.

EQ Bank is a trade name of Equitable Bank.

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