Read and provide consent by clicking on the buttons below for the Disclosure Statement & the Additional Terms and Conditions
Disclosure Statement:
You will receive a Statement of Account (which represents the "statement of account" as defined in the applicable consumer protection legislation) every 27 to 34 business days. All purchases made on your credit account ("Account") in the current statement period, including any outstanding purchases, promotional period purchases, payments, service fees and other charges will appear on your Statement of Account. You will not receive a Statement of Account if there has been no activity in the applicable statement period and there is no balance in such statement period.
Payment TermsPayment Terms are established at an account level, based on your most recent credit agreement. Extended terms may be offered during promotional periods for qualifying customers. The Payment Terms for each purchase can be found on your invoice and/or the applicable Statement of Account.
Interest-free Grace PeriodMeans the number of days between the transaction date of a purchase on your Account and the payment due date indicated on your invoice and/or in the Statement of Account. During the interest-free grace period interest will accrue but will not be required to be paid if you pay the entire balance of all purchases made during the applicable statement period on or before the payment due date. You are entitled to prepay the full outstanding balance at any time without any prepayment charge or penalty.
Annual Interest RateInterest is charged at the rate of 18% per year, compounded monthly (equivalent to 19.56% per annum). The interest rates applicable to your Account are subject to variation. We may vary all such interest rates from time to time by providing you with an updated Disclosure Statement not less than thirty (30) days before any such variation becomes effective.
Past Due InterestInterest is calculated and charged from the transaction date for each new purchase on any amount that remains outstanding past the payment due date for such purchase as shown on the invoice and/or the applicable Statement of Account. Any interest charges assessed due to late payments will appear on the following Statement of Account.
Minimum PaymentSubject to any promotional offers, payment of the entire amount of a purchase is required to be made by the payment due date applicable to such purchase, as indicated on your invoice and detailed on the applicable Statement of Account. Payment is expected on or before the applicable payment due dates to avoid interest charges.
Foreign Currency ConversionForeign currency transactions are converted and posted to your Account in Canadian currency on the date of transaction at the rate of exchange as provided by Thomson Reuters for such commercial transactions.
Service Fees and Other ChargesThe following schedule of service fees and other charges applies to your Account:
a. Annual Service Fee - No annual account service fee is charged.
b. Interest Charge - A charge on all overdue interest-bearing amounts is charged per the Annual Interest Rate.
c. Dishonored Payment Fee - A handling fee of $50.00 will be assessed per item.
d. Statement Fee - Effective January 1, 2025, a $2.00 fee will be charged to your Account for each statement period that you receive paper Statements of Account ("Statement of Account Paper Fee"). For certainty, no Statement of Account Paper Fee will be charged or assessed for a paper Statement of Account received prior to January 1, 2025, and no Statement of Account Paper Fee will be charged or assessed if you opt out of the option to receive paper Statements of Account and instead choose to receive your Statements of Account electronically.
e. Foreign Currency Fee - A conversion handling fee of 2% of the total payment will be assessed for any currency not received in Canadian dollars.
f. Default Charge - If you are in default of the UFA Credit on Account Agreement, you may be required to pay all reasonable costs incurred by UFA to collect or attempt to collect payment from you.
For balance forward Accounts, payments are applied in the following order: first to all outstanding interest, second to any fees, and third to any unpaid principal amounts in order of the applicable payment due dates. For open item Accounts, you are responsible for providing an itemized payment remittance advice, directing payments to be applied to specific purchases on your Account. If you fail to provide directions on how to apply your payments to specific purchases, those purchases for which no payment has been applied will accrue interest as set out above.
Security InterestYou may be required to enter into a separate Security Agreement with UFA pursuant to which you will grant to UFA a security interest in, amongst other things (a) all of your present and after acquired personal property and real property; (b) a purchase-money security interest in all goods acquired on credit from UFA; and (c) all crops grown by you during the term of the Credit Agreement.
Unauthorized Use of Cardlock CardsUnless otherwise provided by applicable laws, you shall be liable for the full amount of all transactions charged to your Account through your Cardlock Card prior to you notifying us of Unauthorized Use or suspected Unauthorized Use of your Cardlock Card.
InquiriesFor any questions concerning this Disclosure Statement or your Account, please call 1-877-258-4500.
Additional Terms and Conditions:
In Section 1, 'you' refers to each Applicant that completed Part A of the Credit Application, and, if applicable, each Co-Applicant that completed Part B of the Credit Application.
In Section 2, 'you' refers to each owner, shareholder or partner that signed Part A of this Credit Application on behalf of the Applicant that is a corporation, partnership, sole proprietor or other entity, if applicable.
1. General Terms. By signing this Credit Application, each of you:
a) certify that the intended use of the Account is to purchase petroleum products, crop inputs, farm and ranch supplies, clothing, tools, building supplies and other products and services from the UFA;
b) acknowledge that our supply of credit to you forms indebtedness owed to us;
c) certify that the information in this Credit Application is true, complete and accurate, knowing that we will be relying on such information in processing your application and if approved, to open and administer the Account or provide other products or services to you;
d) certify that you are of age of majority in the province or territory in which you reside;
e) certify that any documents submitted by you in association with this Credit Application are true, correct and complete;
f) undertake to timely provide us with any change in your address or other information about you when any change occurs, and will give us such other information about you as may be required by us from time to time to keep our records up to date;
g) authorize us to check the information you have provided us from time to time, and authorize and direct any person we may contact in this regard to provide us with such information;
h) authorize us to collect, use disclose personal information about you in accordance with the UFA Privacy Policy, and that you will abide by such Privacy Policy;
i) acknowledge that we may transfer or assign to any person or organization any of our rights, interests and obligations under the account at any time without prior notice or consent from you;
j) agree that if we do not approve of the credit limit for which you have applied, this Credit Application is for the credit limit for which you qualify.
k) acknowledge and agree that you have read and understand the terms and conditions of this Credit Application and the Account Agreement, that your use of the Account confirms your acceptance of such Account Agreement, and you had the opportunity to seek and were not prevented or discouraged by any other party from seeking independent legal advice prior to the execution and delivery of this credit application and the Account Agreement and that, if you did not avail yourself of such opportunity prior to signing this credit application and the Account Agreement, you did so voluntarily without any undue pressure and agree that any such failure to avail yourself of independent legal advice shall not be used by you as a defense to the enforcement of your obligations under this Credit Application and the Account Agreement.
2. Additional Terms. By signing this Credit Application, each of you:
a) certify that you are, acting alone, authorized to sign this Credit Application and have the power to legally bind the Applicant in all respects including, without limitation, the signing of agreements, cheques and other documents, and the borrowing of money.
b) certify that the Applicant is authorized by its governing legislation to borrow money, has the corporate and legal power and capacity and has taken all corporate action to validly authorize the borrowing of money, and there are no provisions in any incorporating documents or by-laws or corporate or shareholder or partnership agreements or other loan agreements which impair in any way the powers of the Applicant to borrow money and you will use your best efforts to advise us should this certification fail to be true and accurate at any time; and
c) certify that no event has occurred and is continuing, and no circumstance exists which has not been waived, and which constitutes a default or event of default in respect of any material commitment, agreement or any other instrument to which Applicant is now a party or is otherwise bound, entitling any other party thereto to accelerate the maturity of amounts of principal owing thereunder, or terminate any such material commitment, agreement or instrument and you will use your best efforts to advise us should this certification fail to be true and accurate at any time.