The Buyer acknowledges and agrees that the deposit holder disclosed that the depositors funds may be held in a variable daily interest rate account or term deposit, at the current rate of Bank of Canada prime "minus" 2.75%. Any interest paid is calculated on the next average daily credit balance at the rate of 1% to the buyer. Should the amount of interest calculated be more than $95.00 the deposit holder shall pay to the depositor the interest accrued on the successful completion of this transaction, otherwise the deposit holder will retain it. The Buyer agrees that this schedule forms part of the terms of the Trust.
The interest earned on all deposits is subject to an administrative fee of Ninety Five Dollars ($95.00) per deposit or additional deposit (s)
The Buyer acknowledges that no interest shall be paid to the Buyer unless the Buyer provides the deposit holder with a valid Social Insurance Number so the TD Bank may open a GIC or Term Deposit and issue a T5 as required by Revenue Canada no later Five (5) days following acceptance of this agreement so a term deposit may be open on their behalf
Name: ___________________________ SIN Number: __________________________
Any interest cheques issued by the deposit holder and not negotiated within SIX (6) months following completion of the herein transaction shall be forfeited to the deposit holder.