Please read the following agreement carefully.
You (hereafter referred as "you" or "your") hereby request Bank of Montreal (the "Bank") or Bank of Montreal Mortgage Corporation ("BMMC") and BMO Trust Company, (hereafter collectively referred to as "us" or "we") to act on BMO Term Investment purchases or loan instructions received via the Internet or private network (a "Message" or "Messages") subject to the terms below. In consideration thereof, you agree with us as follows:You authorize and instruct us to act on any Message received purporting to be from you without the need for further verification. You agree that use of this service will bind you legally from the time we receive your Message and will make you responsible to the same extent and effect as if you had given original signed written instructions to us. You acknowledge that any Message we act upon will be conclusively deemed to be your valid instructions, whether or not authorized by you or whether or not accurately communicated and received. Our records will be conclusive evidence of the Message.
We may decline or delay acting on any Message for any reason. If, for example, the instructions in any Message are incomplete, ambiguous or cannot be carried out due to insufficient funds or otherwise, or if we doubt the authenticity of any Message, or the lawfulness of any instruction given in any Message, we may decline or delay acting on the Message.
We will use reasonable efforts during normal banking hours to monitor our telecommunications systems to determine if we have received any Messages. Our ability to act upon Messages depends on the normal functioning of our telecommunications systems.
We are not responsible for any delay, failure of performance, damage, penalty, cost, expense or inconvenience resulting to you or any other person from causes beyond our control. We are not liable to you or any other person for incorrect or improper payment to any person arising out of the processing of any instruction.
You agree to indemnify and save us harmless from and against any and all charges, complaints, costs, damages, demands, expenses, liabilities, and losses which any of us may incur, sustain or suffer, arising from or by reason of our acting, delaying in acting or declining to act upon any Message received, in accordance with this Agreement, including without limitation, legal fees and disbursements reasonably incurred by us. This indemnity is in addition to any other indemnity you have provided to us.
Any investments purchased or reinvested in the name of another person, as well as the designation of a beneficiary to the RRSP, are not permitted using the Internet at this time.
We may at any time amend this Agreement or terminate your right to authorize and instruct us over the Internet. Notice of amendment or termination shall be given by verbal notice to you effective upon delivery, or by e-mail notice to you effective upon transmission. This Agreement is binding on you and your heirs, executors and administrators (and in the province of Quebec, your liquidators).
This clause applies in the Province of Quebec only. It is the express wish of the parties that this Agreement and any related documents be in English. Les parties conviennent que la présente convention et tous les documents s'y rattachant soient rédigés en anglais.
