Appendix A to Part 37 - Short Form Disclosures
12:1.0.1.1.34.0.28.9.25 : Appendix A
Appendix A to Part 37 - Short Form Disclosures • This product is
optional
Your purchase of [PRODUCT NAME] is optional. Whether or not you
purchase [PRODUCT NAME] will not affect your application for credit
or the terms of any existing credit agreement you have with the
bank.
• Lump sum payment of fee [Applicable if a bank offers the option
to pay the fee in a single payment] [Prohibited where the debt
subject to the contract is a residential mortgage loan]
You may choose to pay the fee in a single lump sum or in
[monthly/quarterly] payments. Adding the lump sum of the fee to the
amount you borrow will increase the cost of [PRODUCT NAME].
• Lump sum payment of fee with no refund [Applicable if a bank
offers the option to pay the fee in a single payment for a
no-refund DCC] [Prohibited where the debt subject to the contract
is a residential mortgage loan]
You may choose [PRODUCT NAME] with a refund provision or without
a refund provision. Prices of refund and no-refund products are
likely to differ.
• Refund of fee paid in lump sum [Applicable where the customer
pays the fee in a single payment and the fee is added to the amount
borrowed] [Prohibited where the debt subject to the contract is a
residential mortgage loan]
[Either:] (1) You may cancel [PRODUCT NAME] at any time and
receive a refund; or (2) You may cancel [PRODUCT NAME] within __
days and receive a full refund; or (3) If you cancel [PRODUCT NAME]
you will not receive a refund.
• Additional disclosures
We will give you additional information before you are required
to pay for [PRODUCT NAME]. [If applicable]: This information will
include a copy of the contract containing the terms of [PRODUCT
NAME].
• Eligibility requirements, conditions, and exclusions
There are eligibility requirements, conditions, and exclusions
that could prevent you from receiving benefits under [PRODUCT
NAME].
[Either:] You should carefully read our additional information
for a full explanation of the terms of [PRODUCT NAME] or You
should carefully read the contract for a full explanation of the
terms of [PRODUCT NAME].