Windsor
Plywood Consumer Application
Please read the agreement before continuing
CARDHOLDER
AGREEMENT WITH CITI COMMERCE SOLUTIONS OF CANADA LTD.
1. If I/we keep
the credit card, use it or allow it to be used after receipt of this
agreement, I/we will be agreeing to the terms and conditions of this
agreement. Use of the card shall terminate any previously existing
agreement between the cardholder and Citi Commerce Solutions of Canada Ltd
("The Credit Office") in respect of the card. Furthermore, use
of the card, after receipt of this agreement, will be considered, in the
case of a new or renewal card and subject to applicable law, a request for
its issuance. If my/our account number is used to make a purchase without
presenting the card (for example, mail or telephone orders) the legal
effect will be the same as though I/we signed the sales slip.
2. Each cardholder
agrees not to use the card in a manner which would permit the aggregate of
all transactions, interest and other charges to exceed, at any time, the
credit limit established from time to time by The Credit Office with
respect to the account, regardless of the number of cards issued on the
same account. The available credit appears on the monthly statement. The
Credit Office reserves the right, at any time, to (i) modify the
authorized credit limit; and (ii) change the terms and conditions of this
agreement upon giving the cardholder written notice, subject to applicable
legislation.
3. I/we, together
with anyone who has been issued a card on the account or whose name
appears on the card as the cardholder, are jointly and severally liable
for all cardholder obligations under this agreement.
4. Statements of
account will be furnished monthly. The statement will be mailed to the
address of the primary cardholder at the address for such cardholder last
shown in the books of The Credit Office.
5. If my/our new
balance is $10.00 or less, I/we must pay the entire amount. Otherwise
my/our minimum due is: (i) 5% of my/our new balance plus; (ii) any amount
past due; plus (iii) any amount over my/our credit limit at the time of
billing.
6. Interest
Charges: (i) I/we will not pay interest on the amount of any purchase
appearing on the account statement for the first time provided that all
debt shown on the account statement is paid in full within 25 days of the
account statement date; (ii) If the account statement is not paid in full
within 25 days of the account statement date, interest will be charged
retroactively (a) On that account statement's transactions from the date
of such transactions; and (b) On any unpaid transactions and charges from
previous monthly statements.
7. Rate of
Interest: The Credit Office will charge me/us interest at the current
annual rate in effect at the time the card is issued as shown on the
accompanying disclosure statement. The disclosure statement and any
replacement thereof given to me/us by The Credit Office form part of this
agreement. Notice of changes in the interest rate will be sent to the
address of the primary cardholder at the address for such cardholder last
shown in the books of The Credit Office.
8. Interest
Calculation: Interest can be calculated by applying to the average daily
balance of the interest bearing transactions and charges, a daily rate of
interest times the number of days of the monthly statement period.
Interest shall accrue and be calculated from the date of the transaction
or charge, as the case may be, to each monthly statement date.
9. Any payment by
the cardholder will be applied against the cardholder's indebtedness in
the following order: (i) interest and charges; (ii) previously billed
balances; and (iii) the remainder, if any, will be applied against
transactions which have not yet appeared on a monthly statement but which
have been posted to the account before the payment was posted, in the same
order as such transactions were made, following the date of the current
statement, and the balance, if any, will be carried forward to the next
month's statement.
10. In the event
that the cardholder's card(s) is/are lost or stolen, such cardholder shall
notify The Credit Office immediately by telephone or in writing. Such
cardholder shall not be liable for unauthorized use of their card that
occurs after such notification. Each cardholder's liability for
unauthorized use of any card prior to such prompt notification shall be
limited to $50.
11. Upon: (i) a
cardholder failing to comply with any term or condition stipulated in this
agreement or any amendment or modification hereto; (ii) the insolvency,
bankruptcy or death of any cardholder; or (iii) attachment, execution or
levy against any cardholder or any cardholder's property, The Credit
Office may terminate this agreement with the cardholder and in such event,
interest and charges shall become due and payable at the expiry of thirty
(30) days following receipt by the primary cardholder's notice of such
termination and all cards shall be immediately returned to The Credit
Office.
Disclosure
Statement
Interest is calculated at a rate of 19.9% per annum (compounded monthly)
if the previous statement balance is $1,500.00 or more for consumer
cardholders; or interest is calculated at a rate of 28.8% per annum
(compounded monthly) if the previous statement balance is less than
$1,500.00 for consumer cardholders.
Annual Fee No Fee
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Current Annual Rate 19.9% or 28.8%
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Grace Period 25 Days
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Charge For Interest Rates/Returned Cheques $25.00
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