Renewal Payment Agreement.
Terms and Conditions
POLICY INFORMATION ____________________________________________________________________
Definitions: Wherever the word “Policy” or “Policies” is used in this agreement, it means collectively the policy(ies) listed in the Schedule of Policies below. “IPFS Canada” means Imperial PFS Canada and its successors and assigns. Wherever the words “Insurance Company” or “Insurance Companies” are used in this Agreement, they mean the insurance companies listed on the Schedule of Policies below. Whenever the term “RPA” is used, it refers to the Renewal Payment Agreement among the Insured/Borrower, IPFS Canada and undersigned Agent or Broker (collectively, the “Parties”) with the Payment Agreement # noted above and is subject to the terms and conditions as outlined in the original agreement that is being renewed. “PA” means a Payment Agreement, Premium Finance Agreement, Premium Payment Agreement, or Monthly Payment Plan. Interpretation:
In this Agreement, words indicating the singular shall include the plural and vice versa, and words indicating one gender shall include all genders.
RENEWAL NOTICE AND REQUEST__________________________________________________________
Pursuant to the PA #{previous quote#}, on behalf of the Insured/Borrower the Agent or Broker signing above requests a one year renewal of PA #{previous quote#} for Imperial PFS Canada to finance the premium payments for the Policies listed in the Schedule of Policies below. The Agent or Broker hereby agrees that:
1. Renewal / Extension Request: Renewal or extension of the PA is subject to the acceptance of this RPA by IPFS Canada, in its sole discretion, as will be confirmed by a notice of acceptance (the “Notice of Acceptance”) sent to the Insured/Borrower and the Agent or Broker, and the continued compliance by the Insured/Borrower and Agent or Broker with all representations, warranties and agreements contained in the PA and/or any Broker Representations and Warranties agreement confirmed by the Agent or Broker to and in favor of IPFS Canada (the “Broker Agreement”), as applicable. Except as modified herein (including the updated payments and cost of credit information set out in the Payment Details sections above), no other changes or modifications to the terms of the PA are intended or implied, and in all other respects, the terms of the PA are confirmed and the terms of the PA are incorporated by reference herein.
2. RPA Paramount: If there is any inconsistency or conflict between the terms of this RPA and the PA, the provisions of this RPA shall
prevail to the extent of the inconsistency, but the foregoing shall not apply to limit or restrict in any way the rights and remedies of IPFS Canada under the PA or this RPA, other than as may be specifically contemplated herein.
3. Continued Pre-Authorized Payments: Pursuant to the terms of the PA, IPFS Canada shall continue to make pre-authorized withdrawals from the Insured/Borrower’s account until written notice of cancellation or a renewal notice is received by IPFS Canada.
4. Disclosure: All information in this RPA, including the disclosure set out in the Payment Details sections above, has been provided in writing to the Insured/Borrower, and the Insured/Borrower has instructed the Agent or Broker to renew the PA on the terms set out in this RPA.