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Below is our sample Interest Bearing clause which is to be inserted into all offers as per RECO regulations.

Feel free to copy and paste our clause into your Offer Program or download a copy of our "Schedule B" at the bottom of this page.  

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 Buyer acknowledges that no interest shall be paid to the Buyer unless the Buyer provides the deposit holder with a valid Social Insurance Number for use on the required Revenue Canada T5 forms no later than ten (10) days following completion. Buyer's 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

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