Through the Website (and other off-line medium) our principal role is to perform administrative functions on behalf of Borrowers and Lenders in order to bring them together, to provide a streamlined process for entering into mortgage commitments as set out in these Terms of Service.
We do not:
YOUR CAPITAL MAY BE AT RISK IF A BORROWER FAILS TO REPAY A MORTGAGE THAT YOU HAVE PARTICIPATED IN. WE DO NOT PROVIDE ANY ADVICE, NOR DO WE MAKE ANY RECOMMENDATIONS TO THE LENDER. FOR THE AVOIDANCE OF DOUBT, ANY INFORMATION PROVIDED ON THE WEBSITE DOES NOT CONSTITUTE A PERSONAL RECOMMENDATION. IF YOU HAVE ANY QUESTIONS ON WHETHER A MORTGAGE IS A SUITABLE INVESTMENT OR ANY CONCERNS YOU SHOULD OBTAIN APPROPRIATE INDEPENDENT ADVICE INVOLVING A PERSONAL RECOMMENDATION. THE INFORMATION ON THE SITE IS NOT INTENDED TO BE RELIED UPON AS A SOLE BASIS FOR DECIDING WHETHER OR NOT TO COMMIT TO LENDING VIA THE SITE. IF YOU ARE UNSURE ABOUT WHETHER A PARTICIPATION IN A MORTGAGE IS SUITABLE YOU SHOULD CONTACT AN INDEPENDENT FINANCIAL ADVISER. YOU SHOULD CONSIDER WHETHER OUR LENDING SERVICES MEET YOUR ACCEPTABLE RISK LEVELS AND INVESTMENT OBJECTIVES AND YOU SHOULD ONLY COMMIT SUCH FUNDS FOR WHICH YOU ARE ABLE TO FINANCIALLY BEAR THE RISK OF LOSS CONSIDERING ALL OTHER FINANCIAL COMMITMENTS. ANY DUE DILIGENCE THAT WE MAY PERFORM ON A BORROWER OR THEIR RELATED PROPERTY IS NOT AN ENDORSEMENT BY US OF SUCH BORROWER AND SHOULD NOT BE RELIED UPON WHEN CONSIDERING LENDING. BY USING OUR SITE, YOU CONFIRM THAT YOU HAVE THE NECESSARY EXPERIENCE AND KNOWLEDGE IN ORDER TO UNDERSTAND THE RISKS INVOLVED IN THE TRANSACTION OR ARE ABLE TO TAKE ADVICE FROM A RELEVANT QUALIFIED INVESTMENT PROFESSIONAL OR ADVISOR TO ASSIST YOUR UNDERSTANDING OF THE RISKS INVOLVED. WE WILL NOT BE RESPONSIBLE FOR ASSESSING THE SUITABILITY OF ANY LENDING. YOU SHOULD CONSIDER CAREFULLY THE RISKS BEFORE MAKING A COMMITMENT TO LEND TO A BORROWER.
BY USING THE SITE, YOU UNDERSTAND AND ACKNOWLEDGE THAT DCL PROVIDES A WEBSITE FOR BORROWERS AND LENDERS TO CONNECT WHERE LENDERS CAN OFFER MORTGAGE PRODUCTS TO PROSPECTIVE BORROWERS. DCL IS NOT A PROVIDER, VENDOR OR BROKER OF FINANCIAL PRODUCTS NOR IS IT A FINANCIAL ADVISOR. THE INFORMATION PROVIDED ON THE WEBSITE IS PROVIDED FOR INFORMATION PURPOSES ONLY AND IS NOT AND SHOULD NOT BE CONSTRUED AS FINANCIAL ADVICE OR ANY OTHER KIND OF ADVICE. DCL MAKES NO REPRESENTATIONS OR WARRANTIES ABOUT THE ACCURACY OF ANY INFORMATION CONTAINED ON THE WEBSITE, AND SHALL NOT BE RESPONSIBLE FOR ANY INACCURACIES, MISREPRESENTATIONS, ERRORS OR OMISSIONS IN THE INFORMATION PROVIDED THEREIN, AND SOME INFORMATION MAY NOT ALWAYS BE UP TO DATE. USERS ARE STRONGLY ENCOURAGED TO USE COMMON SENSE AND DISCRETION AND TO DO THEIR OWN RESEARCH BEFORE RELYING ON ANY OF THE INFORMATION PROVIDED BY THE WEBSITE, AND TO CONSULT AN INDEPENDENT COMPETENT PROFESSIONAL (SUCH AS, WITHOUT LIMITATION, AN ACCOUNTANT, REAL ESTATE AGENT, MORTGAGE BROKER, INSURANCE BROKER, OR LAWYER) WE ARE NOT RESPONSIBLE FOR ANY ADVICE PROVIDED BY ANY PROFESSIONAL YOU CONSULT, NOR ARE WE RESPONSIBLE FOR THE ACTS OR OMISSIONS OF ANY USER OR FOR ANY ACTUAL, FAILED, PROPOSED OR DISCUSSED TRANSACTION FOLLOWING YOUR USE OF THE SERVICES OR ANY OTHER DECISIONS YOU MAKE AS A RESULT OF USING THE WEBSITE AND/OR SERVICES. USERS HEREBY UNDERSTAND AND AGREE TO USE THE INFORMATION CONTAINED ON THIS WEBSITE AT THEIR OWN RISK. UNDER NO CIRCUMSTANCES SHOULD ANY INFORMATION ON THIS SITE BE CONSTRUED AS A PUBLIC OFFERING OF SECURITIES OF DCL ENTITIES IN ANY JURISDICTION OF CANADA OR OUTSIDE CANADA. THE CONTENTS ARE PROVIDED SOLELY FOR INFORMATION PURPOSES AND SHOULD NOT BE INTERPRETED AS A RECOMMENDATION OR AS GENERAL OR SPECIFIC FINANCIAL, LEGAL, TAX, INVESTMENT OR PROFESSIONAL ADVICE APPLICABLE TO ANY USER, BORROWER OR LENDER’S SPECIFIC CIRCUMSTANCES. DCL ENTITIES MAKE NO REPRESENTATION OR WARRANTY AS TO THE SUCCESS OF ANY SECURITIES OFFERED BY DCL ENTITIES.THE CONTENTS MAY NOT BE RELIED UPON FOR INVESTMENT PURPOSES. WE RECOMMEND THAT YOU CONSULT YOUR OWN PROFESSIONAL ADVISORS REGARDING USE OF THE SITE FOR ANY PURPOSE. THESE TERMS OF SERVICE MAY BE AMENDED OR UPDATED BY DCL FROM TIME TO TIME WITHOUT NOTICE TO COMPLY WITH LAW OR TO MEET DCL ENTITIES’ BUSINESS REQUIREMENTS AND THE TERMS OF SERVICE MAY HAVE CHANGED SINCE YOUR LAST VISIT TO THIS WEBSITE. DCL ENTITIES MAY NOT ALWAYS BE ABLE TO GIVE YOU ADVANCED NOTICE OF SUCH AMENDMENTS OR UPDATES, BUT THE TERMS OF SERVICE THAT ARE IN EFFECT AT ANY GIVEN TIME WILL ALWAYS BE POSTED ON THE SITE SO THAT YOU CAN REVIEW THEM WHEN YOU NEXT LOG IN. ANY AMENDMENT OR UPDATE WILL BE EFFECTIVE IMMEDIATELY AND AUTOMATICALLY BIND ALL USERS, LENDERS AND BORROWERS TO THE EXTENT PERMITTED BY LAW. IT IS YOUR RESPONSIBILITY TO REVIEW THESE TERMS OF SERVICE FOR ANY CHANGES. YOUR USE AFTER ANY AMENDMENTS OR UPDATES OF THESE TERMS OF SERVICE SHALL SIGNIFY YOUR CONSENT TO AND ACCEPTANCE OF SUCH REVISED TERMS. ANY NEW FEATURES THAT MAY BE ADDED TO THIS WEBSITE FROM TIME TO TIME WILL BE SUBJECT TO THESE TERMS OF SERVICE, UNLESS STATED OTHERWISE. YOU SHOULD VISIT THIS PAGE PERIODICALLY TO REVIEW THESE TERMS OF SERVICE. DCL ENTITIES MAKE NO REPRESENTATIONS OR WARRANTIES REGARDING THE COMPLETENESS, ACCURACY OR CURRENCY OF ANY INFORMATION OF THE SITE. DCL ENTITIES SHALL NOT BE LIABLE FOR ANY OMISSION, ERROR, INACCURACY OR FAILURE TO UPDATE SUCH INFORMATION. DCL ENTITIES SHALL HAVE NO LIABILITY RELATED TO THE CONTENT OF ANY COMMUNICATIONS, WHETHER OR NOT ARISING UNDER THE LAWS OF COPYRIGHT, DEFAMATION OR LIBEL, PRIVACY, OBSCENITY OR OTHERWISE. DCL ENTITIES RESERVE THE RIGHT TO REMOVE ANY OR ALL COMMUNICATIONS THAT CONTAIN MATERIAL DEEMED INAPPROPRIATE OR UNACCEPTABLE. DCL ENTITIES, THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, CONSULTANTS, REPRESENTATIVES, AGENTS, SUCCESSORS AND ASSIGNS TAKE NO RESPONSIBILITY AND ASSUME NO LIABILITY FOR THE COMMUNICATIONS. THE FRAMING, MIRRORING, SCRAPING OR DATA-MINING OF THE SITE OR ANY OF ITS CONTENTS IN ANY FORM AND BY ANY METHOD IS STRICTLY PROHIBITED.
The use of this Site for any purpose is subject to these Terms of Service and the Privacy Policy for the Website. The Terms of Service and the Privacy Policy constitute a binding legal agreement between you and DCL Entities governing your access to and use of the Site and use of the services and applications offered by DCL Entities. Access to and use of the Site is conditional on your acceptance of and compliance with the Terms of Service and the Privacy Policy. Please read the Terms of Service and the Privacy Policy carefully before browsing or using this Site or becoming a” User”, “Lender” or “Borrower” as these terms are defined herein. By using this Site, you unconditionally agree to follow and be bound by the Terms of Service and the Privacy Policy and any other terms and conditions brought specifically to your attention from time to time. Where you are acting on behalf of any other party, you hereby confirm that you have the authority to, and hereby, bind such other party to the Terms of Service and the Privacy Policy. All references to “you” and “your” herein include references to each and every party that you are acting on behalf of, except where the context otherwise requires. If you do not accept these Terms of Service and the Privacy Policy, you should not use this site.
If as a consequence of using our Site, you subsequently enter into a mortgage commitment (either as a Borrower or a Lender) the rights and obligations owed by each party to the other shall be governed by the mortgage commitment.
It is important that you read these Terms of Service and you should print or otherwise save a copy for your future reference.
The contents of the Site include, without limitation, all information, data, products, materials, services, software applications and tools, design elements, text, images, photographs, illustrations, audio and video contents, artwork and graphics contained therein or otherwise made available to you in connection therewith (collectively the “Contents”) and, unless the context clearly requires otherwise, or explicitly stated in writing, the Site includes all the Contents.
If you have not reached the age of majority in your province or territory of residence, you must refrain from using the Site. You are solely responsible for ensuring that you are legally accessing the Site, and that the Contents available therein or thereby is legal in every jurisdiction where you access or view the Site or the Contents, as well as in any intermediary jurisdiction by which you do so.
You may not reproduce information or materials posted on the Site in any form or download, republish, display, publicly perform, distribute, sell, transfer, modify or use any such information or materials for any public or commercial purpose. Any unauthorized use of any such information or materials may violate copyright laws, trademark laws, laws of privacy and other laws and regulations. The portions of Site and the Contents that can be downloaded are protected by copyright laws, trademark laws and other laws and can only be used in accordance with the Terms of Service or with prior written consent of the owner of such material.
You cannot use the Site for any purpose that is illegal, unlawful or that is prohibited by the Terms of Service. All rights reserved.
You confirm that you have read the Privacy Policy and agree that it is reasonable. You agree that DCL Entities may use your personal information, in accordance with these Terms of Service and Privacy Policy and for the stated purposes contained therein.
DCL Entities will deliver or correspond to you by either emailing them to the email address you have provided or by posting the documents on your account and will be deemed to be delivered to you, whether or not you elect to open or view the email or documents posted. By agreeing to these Terms of Service, you hereby consent to electronic delivery of documents. We may, in our discretion, send a notice to the email address you have provided, or correspondence has been posted to your account. It is your responsibility to ensure the email address remains operational and you will immediately inform us of any changes to your email address. Every document or correspondence delivered by us to you shall be deemed to have been acknowledged as correct, approved, and consented to by you unless we shall have received written notice to the contrary within 10 days after it was delivered to you. You are responsible for all costs expenses incurred by you in accessing the Site.
The sections of the Site granting you access requires you to have a username and a password (“Credentials”) which you must request. You will keep treat any password as confidential information and take every precaution necessary to ensure that a password is never disclosed, accidentally or otherwise, to anyone else at any time. You will promptly inform DCL Entities in writing of any loss, misuse or misappropriation of the password. Should you decide to register on the Site as a user (a “User”), you agree to provide accurate and up-to-date information about yourself and/or any party on whose behalf you are acting during the registration process (the “User Registration”) and to promptly update this information, including but not limited to email addresses, as necessary to ensure it is accurate and complete at all times. Your Credentials will not change, if and when, you become a Lender and/or a Borrower.
DCL Entities reserve the right to cancel or suspend your Credentials and to suspend, cancel or terminate your account, your use and/or your access to the Site, or any services, as well as remove and delete any information or content related to this Site or one of the services (and terminate your use thereof), for any reason whatsoever and at any time at their sole discretion, without notice and without liability to you in accordance with the Terms of Service.
DCL Entities are under no obligation to verify the actual identity or authority of any party using the Credentials to access or use the Site. Any DCL Entity may, at its sole discretion and at any time, require proof of identity of any party seeking access to and use of the Site and may deny such access, in whole or in part, if the DCL Entity is not satisfied.
You are fully responsible and liable for the confidentiality and security of your Credentials as well as for any activity resulting from the use of your Credentials, including any and all use or misuse of the Credentials which may result from your disclosure of the Credentials. You assume sole responsibility for any activity resulting from the use of your Credentials by anyone including, but not limited to, any of your principals, partners, employees, representatives or agents or any other person who may have obtained the Credentials by any means. After accessing the Site using the Credentials, you are responsible for closing the browser, clearing the browser’s cache and/or closing the session so that the Credentials cannot be accessed by a subsequent user. If you suspect that the Credentials are lost, stolen and/or known to be used by an authorized party, you shall immediately notify DCL. DCL Entities assume no responsibility or liability, and cannot be held liable, for any damages arising from or related to your failure to keep your Credentials confidential and secure.
Should you experience dissatisfaction with the Site or one of its services, Terms of Service and/or Privacy Policy, you may discontinue using the Site or the service in accordance with the Terms of Service. Once you have obtained the Credentials, you may apply to become a borrower (a “Borrower”) and/or a lender (a “Lender”). Users who do not become Borrowers or Lenders may only view select content on the Site. To view the full content, Users must be approved by DCL Entities.
Although parties from all jurisdictions may complete the User Registration to access the Site were permitted by law, the Site is directed only to parties residing or having their principal place of business in one of the provinces or territories of Canada. As such, only parties residing or having their principal place of business in one of the provinces or territories of Canada may be eligible to become a Borrower or a Lender. The Site is not directed to any party in any jurisdiction where, due to that party's residence, principal place of business or otherwise, the publication or availability of the Site is prohibited. Parties in respect of whom such prohibitions apply must not access the Site and may not become a User.
All logos, trademarks, service marks and trade names used or displayed on the Site are the registered or unregistered trademarks of DCL Entities or their respective owners. Nothing on the Site grants or may be construed as granting, by implication or otherwise, any license or right to use any logos, trademarks, service marks and trade names displayed on the Site without the written permission of DCL Entities or such other owner.
In addition, the Contents may not be copied, reproduced, republished, downloaded, posted, transmitted, distributed, or modified, in part or in whole, in any form whatsoever, whether in text, audio, video or executable format, without prior written consent of DCL. Nothing in the Site may be construed as conferring any right to use the Contents in any manner that is protected under the Copyright Act (Canada).
The Site was developed for optimal display on the following browsers: Google Chrome Version 51+ and Safari Version 8+. You are advised to use these internet browsers to enjoy optimal use of the Site. DCL Entities shall not be held liable for any damages relating to the use of the Site and problems with the display caused by your internet browser. You agree to access the Site using hardware that does not contain viruses and with an up-to-date browser.
The Site may contain hyperlinks to other websites that are not owned, operated, or controlled by DCL Entities, such as hyperlinks to Borrowers’ websites. The hyperlinks are provided solely for convenience. To use the hyperlinks, you must leave the Site. DCL Entities will not and cannot verify the content, material or any other information on the other websites visited by you. DCL Entities do not endorse, guarantee, or make any representations or warranties regarding any other websites or any of the content, material or information that may or may not be on such websites. If you decide to access any other website from a hyperlink on the Site, you do so at your own risk. DCL Entities assume no responsibility and shall not be liable for any damages arising from the use of such other websites.
Navigation on the Site is likely to cause the installation of cookies on your computer or device. A cookie is a small file which does not identify a user, but which records the information about the navigation of a computer or device on a website. The data obtained is used to facilitate subsequent browsing on the Site and allows tracking of certain statistical data which helps DCL Entities improve the Site. Refusing the installation of a cookie may prevent you from accessing certain services or parts of the Site. You may configure your computer or device to accept or deny the installation of cookies.
The following describes how to complete an Application, and subject to approval, become a Borrower. All references to “you” and “you’re” in the “How to become a Borrower” section of the Terms of Service includes the Applicant, as defined herein, except where the context otherwise requires.
To become and remain a Borrower, an Applicant must meet DCL Entities’ requirements, as they may be amended from time, without notice.
Process
A borrower shall make an Application through the Site.
If DCL Entities, in its sole and absolute discretion, believes that your mortgage application can be supported by an institutional lender or a private lender that is not a User of the Website, then the borrower may be contacted by the Brokerage to facilitate the mortgage request between the borrower and an institutional lender or a private lender that is not a User of the Website. DCL Entities may strive to find alternative financing options if no invitation to offer is made by a Lender to a borrower.
DCL Entities may then conduct a validation that includes, without limit to, verifying your address, email address, legal name, credit check, and a request for documents. DCL Entities may then contact you by phone to review and confirm your mortgage Application details. Once confirmed, the Application will get posted on the Site. The Brokerage may provide certain documents to you to be signed, which may include a consent to conduct a credit check if deemed required. If you receive any invitations to offer from one or many lenders, you will have the opportunity to review and select which offer you want. DCL Entities will then send a mortgage commitment to you and the selected lender for review and signature. The mortgage commitment may contain conditions that need to be fulfilled for the funds to be provided by the lender, including, without limit to, appraisals, credit checks etc. DCL Entities may then conduct a final review to ensure that all required documents have been signed, and that all the conditions under the mortgage commitment have been fulfilled.
If a lender sends an invitation to offer which is accepted by you, but does not sign the mortgage commitment, DCL Entities reserves the right to restrict or terminate such lender’s authorized users’ access privileges at any time, for any reason whatsoever, in Brokerage’s sole discretion, without notice.
If a mortgage commitment has been fully signed and a lender does not provide funding accordingly, DCL Entities reserves the right to restrict or terminate such lender’s authorized users’ access privileges at any time, for any reason whatsoever, in Brokerage’s sole discretion, without notice.
Information and Documents
To confirm that the party making the Application (the “Applicant”) that you are acting on behalf of is eligible and to verify its existence, and for underwriting purposes, DCL Entities requires the provision of certain information and documents prior to accepting the Applicant as a Borrower. Information and documents requested must be provided in satisfactory form prior to acceptance. In the event any information and/or document provided is deemed deficient for any reason, DCL Entities may invite you to address the deficiencies. Please note that DCL Entities may at any time request additional information and documents regarding you, the Applicant, Guarantors, and other individuals associated with the Applicant, including its shareholders, partners, officers, and directors. If any of information and documents requested by DCL Entities is not provided in satisfactory form in a timely manner in DCL Entities’ sole and unfettered discretion, the Application will be rejected.
You hereby represent and warrant to DCL Entities and all Lenders that the information and documents provided in support of an Application and any and all additional information and/or documents submitted to or received by DCL Entities are true, complete and accurate in all respects, at the time submitted and at all times while the Applicant remains a Borrower and does not contains any errors, misleading information, omissions or misrepresentations that would be reasonably material to a lender’s decision to commit funds.
In the event of a change in any information or document provided to DCL Entities, you agree to immediately notify DCL Entities of such change and provide it with the appropriate information or document.
By submitting an application you represent and warrant that you have disclosed to DCL Entities all circumstances that you are aware of and which could or might result in a material adverse change in respect of the business, assets or financial affairs of the applicant and its principals or guarantors, including without limitation any claims, undisclosed liabilities, litigation, arbitration, court proceedings or investigations, including any investigation by any governmental entity, agency or other similar entity, which are current, threatened, pending or otherwise reasonably likely to occur by any third party.
You agree that you will promptly notify DCL Entities upon you or the Applicant becoming aware of or suspecting that one of the aforementioned events has occurred or may occur and will provide DCL Entities with any information as it may reasonably require from time to time.
If you are, or at any time become, aware of any current or future claim (or potential claim) by the Canada Revenue Agency (or any other governmental agency, entity, or public body) against you, the Applicant, or its Guarantors, the Applicant must inform DCL Entities immediately.
You acknowledge that the DCL Entities may and will use information provided by you and the Applicant to display it on the Site and that such information will be made available to Lenders and Users as described in the Privacy Policy. Please refer to the Privacy Policy for a list of the information which may be made available. IF YOU DO NOT AGREE WITH THE PRIVACY POLICY, DO NOT SUBMIT AN APPLICATION TO BECOME A BORROWER.
By requesting that the Applicant be approved as a Borrower you understand that information pertaining to the Applicant’s business and affairs will be shared with DCL Entities, Users and Lenders. You acknowledge being aware of intellectual property laws and having taken the necessary measures to protect the information you share with DCL Entities, Lenders and Users. DCL Entities will not be held responsible for any loss or damage incurred by you in respect of any loss of intellectual property as a result of any disclosure of information by you to DCL Entities. You hereby waive all rights of claim, action, or demand against DCL Entities.
By submitting to DCL Entities any information (collectively, the “Materials”) to be displayed or accessed to on the Site, you represent that you are the sole legal and beneficial owner of such Materials or that you own or hold a valid license or are otherwise legally authorized to use the Materials and that such license or authority is not being contested, in whole or in part, by anyone whomsoever at the time of applying for approval as a Borrower and at any time during which the Materials shall be displayed on the Site. You represent that you are entitled to use the Materials and do not violate intellectual property rights of any third party. The use of any Materials shall be at your own risk. You will be solely responsible for any breach of any intellectual property laws and you shall indemnify and hold the DCL Entities harmless of any loss or damages suffered as a result of any breach of this provision. While DCL Entities reserves the right to remove any portion of the Materials from any the Site at any time and at its sole discretion, it has no obligation to do so.
By submitting an Application, you irrevocably represent that you have the authority to authorize DCL Entities to request and receive from Equifax Canada Inc. and/or Trans Union of Canada, Inc., (each a “Credit Agency”) for any reason whatsoever and at any time, any personal, financial or other information relating to you, the Applicant and Guarantor(s) (collectively “Information”) and any employee or representative of the DCL Entities is hereby authorized to request and receive Information on DCL Entities’ behalf and the Lender’s behalf. You understand that the Information will be disclosed to DCL Entities and the Lender for the purposes of reviewing your application to become a Borrower and/or guaranteeing obligations under any mortgage commitment. Furthermore, you understand that DCL Entities may continue to request and receive your Information from a Credit Agency on an ongoing basis after you have submitted a mortgage application.
DCL Entities will use information obtained from Credit Agencies with respect to you, the Applicant, and any Guarantor to be made available to Lenders for information purposes only. Lenders are reminded to form their own investment decision regarding each Borrower’s creditworthiness and undertake their own research and analysis and seek independent advice before making a commitment to fund a mortgage application.
YOU UNDERSTAND THAT MORTGAGE COMMITMENTATION MAY NOT BE ASSIGNED OR TRANSFERRED TO ANY OTHER PARTY, EXCEPT AS SPECIFICALLY PROVIDED. YOUR MORTGAGE APPLICATION PAGE WILL BE IMMEDIATELY DELETED WITHOUT NOTICE IF DCL ENTITIES BECOMES AWARE OF ANY ACTIVITY THAT COULD CAUSE YOU TO BE IN BREACH OF THESE TERMS OF SERVICE AND NONE OF THE DCL ENTITIES WILL BE HELD LIABLE FOR ANY DIRECT OR INDIRECT LOSS OR DAMAGE INCURRED BY YOU OR THE APPLICANT AS A RESULT OF THE DELETION OF A MORTGAGE APPLICATION. YOU ARE URGED TO REFRAIN FROM MAKING ANY SUCH UNAUTHORIZED DISCLOSURE AND TO USE YOUR JUDGEMENT BEFORE ENGAGING IN ANY ACTIVITY WHICH MAY RESULT IN A BREACH OF THIS PROVISION.
DCL Entities make no guarantee, representation, or advice as whether any mortgage application will be fully funded. Publishing the Site does not constitute in any way an obligation of DCL Entities to procure funding or any warranty that funding will be available. You understand that your mortgage application may not become fully funded
DCL ENTITIES MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, REGARDING ANY MORTGAGE APPLICATION. THE SERVICES OFFERED BY THE DCL ENTITIES ARE NOT INTENDED AS A SUBSTITUTE FOR PROFESSIONAL ADVICE. PLEASE BE AWARE OF THE LAWS OF YOUR PROVINCE OR TERRITORY OR THAT OTHERWISE APPLY TO YOU WITH RESPECT TO ANY MORTGAGE COMMITMENT THAT IS PROVIDED. YOU ACKNOWLEDGE THAT YOU ARE ACCESSING THE SITE OF YOUR OWN INITIATIVE AND ARE RESPONSIBLE FOR COMPLIANCE WITH THE LAWS THAT ARE APPLICABLE IN YOUR JURISDICTION. YOU ACKNOWLEDGE AND HEREBY ACCEPT THE CONSEQUENCES THAT MAY ARISE FROM SENDING AN APPLICATION TO BECOME A BORROWER, THE POSTING OF A MORTGAGE APPLICATION ON THE SITE, AS WELL AS ENTERING INTO A MORTGAGE COMMITMENT.
You agree to indemnify, hold harmless and defend the DCL Entities from and against all expenses, costs, fees, losses, claims, actions, damages, obligations and liabilities of any kind, including, in particular any legal fees and disbursements, (collectively “Losses”) that may be incurred in investigating, defending and/or settling any action, suit, proceeding, investigation or claim that may be made or threatened against them or to which they may become subject or otherwise involved in any capacity insofar, including Losses directly or indirectly incurred as a result of your breach of the Terms of Service, the Privacy Policy or any mortgage commitment.
The Borrower shall indemnify, hold harmless, and defend, the Brokerage, DCL, and its affiliates, subsidiaries, directors, officers, employees, shareholders, agents, successors and assigns from and against any and all loss, liability, claim, damage or expense, whether direct, indirect or consequential, any statutory or regulatory suit, action or proceeding for fines, penalties, costs, assessments, compliance or cease-and-desist orders and including legal fees on a full indemnity (i.e. solicitor and his/her own client) basis, which may be brought against them in tort, contract, statute or otherwise arising from, related to or in connection with the services provided by DCL Entities or the Lender or any of the activities of DCL Entities or the Lender contemplated by or undertaken pursuant to these Terms of Service, Privacy Policy, Lender Agreement, mortgage commitment, or any mortgage commitment, directly or indirectly, including but not limited to services provided through or activities of agent(s) of the Lender or DCL Entities. The indemnity provided in this section shall survive the termination of this Agreement.
You agree to cooperate with the DCL Entities in the contestation of any such claim, action, demand, or investigation.
Furthermore, you hereby renounce to and give to the DCL Entities complete and final release and discharge from, and with respect to, any and all claims, rights, and recourses, present or future, of any nature or cause whatsoever related to borrowing on the borrowing section of DCL or related to any misrepresentation, inaccurate or misleading information or any material facts unclearly presented on the Site. DCL Entities will not be liable for any information relating to any Borrower made available on the Site. DCL Entities may from time to time, but is not obliged to, update or modify a Borrower’s Materials. You are solely responsible for your information displayed on the Site.
Furthermore, you acknowledge having consulted your legal advisor and that they have advised you on potential consequences and/or obligations pursuant to any mortgage commitments.
If you no longer wish to be a Borrower, you may close your account by sending us an email at [email protected]. However, please note that you may NOT close your account if any outstanding amount is owed to DCL Entities for any reason whatsoever. Please also note that if you close your Borrower’s account you will remain a User. To close all your accounts, please include a specific request in this regard in our email address.
DCL Entities may close your Borrower’s account and your User account at any time at its sole discretion, including but not limited to any of the following:
You hereby confirm that you, the Applicant, and its officers, directors, partners, employees, agents, consultants, representatives, agents, successors, and assigns, agree to use the Site only for lawful purposes and in a way which does not infringe the rights of any other User. You warrant that the Materials that you upload is free from viruses or anything else which may affect the functionality of the Site.
You are responsible for all costs incurred by you in accessing DCL. The information published on DCL may refer Lenders and Users to third party websites, including your website. DCL Entities is not responsible for any material or information displayed on such website or on any other website linked thereto. You agree that you are solely responsible for the information and material available on your website, as applicable.
The invalidity or unenforceability of any of the provisions of the Terms of Service will not affect the validity of any other provision and such invalid provision will be deemed to be severable. No waiver of any breach of the Terms of Service will be effective or binding unless made in writing and signed by one of the DCL Entities, and such waiver will be limited to the specific breach waived unless otherwise provided.
Your obligations pursuant to the Terms of Service shall survive the termination and/or the closing of your Borrower’s account.
The Terms of Service will be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein.
The following describes how to apply to open an account as a lender (a “Lender”) with DCL, and subject to approval, how to use the lending section of the Site. All references to “you” and “you’re” in the “How to become a Lender” section of the Terms of Service includes the Lender, as defined herein, except where the context otherwise requires.
The following describes how to apply to open an account as a lender (a “Lender”) with DCL, and subject to approval, how to use the lending section of the Site. All references to “you” and “you’re” in the “How to become a Lender” section of the Terms of Service includes the Lender, as defined herein, except where the context otherwise requires.
As a User of the Site, you have been provided Credentials. Your Credentials will remain the same after you become a Lender.
To become and remain a Lender, you must meet the following criteria:
To confirm that you are eligible to be a Lender and to verify your identity, DCL Entities requires that you provide certain information and documents. To become a Lender, you must provide all the information and documents noted as required in the Lender registration and the Lender Profile form found on the Site or as posted on your account, and any other additional information and/or documents that DCL Entities may require.
You will need to review and complete our lender intake forms such as our Lender Profile form, and you will need to review and sign a Lender Agreement between DCL Entities and you. In the event that you have your own mortgage commitment form, you will need to submit it to us for our review and acceptance.
We will provide educational videos on our Site that you attest to having viewed. These include, without limit to, how to use the Site, the basics of lending, etc.
You hereby represent and warrant to DCL Entities that the information and documents you have provided and/or will provide to DCL Entities, and all additional information and/or documents that will be submitted to or received by DCL Entities at any time are true, complete, and accurate in all respects, as of the date submitted or received. In the event of a change in any information or document provided to DCL Entities, you agree to immediately notify DCL Entities of such change and provide DCL Entities with the correct information or document, as applicable.
You represent and warrant that you have disclosed to DCL Entities all circumstances that you are aware of which could or might result in a material adverse change in your financial condition, including without limitation any claims, undisclosed liabilities, litigation, arbitration, court proceedings or investigations, including any investigation by any governmental entity, agency, or other similar entity, which are current, threatened, pending or otherwise reasonably likely to occur by any third party.
You hereby acknowledge that DCL Entities may and will use the information provided by you in accordance with the Privacy Policy.
The decision to accept you as a Lender is made after receipt of all requested documentation and information and after the Lender has attested to watching all the educational videos on the Site. However, various factors may result in a delay in the decision, including, but are not limited to, delays in receipt of identity verification. In the event DCL Entities decides not to accept you as a Lender DCL Entities will notify you and may at its sole and absolute discretion inform you of the reason. If DCL Entities’ decision not to accept you as a Lender is based on erroneous information, you may contact DCL Entities by e-mail at [email protected] and submit the correct information and/or documents, as applicable. Please note that DCL Entities has sole and absolute discretion as to whether to accept as any person or entity as a Lender for without any reason whatsoever.
Once accepted and approved as a lender by DCL Entities, you will then have full access to the Site to view mortgage Applications by prospective borrowers and to make invitations to offer. As a Lender, after having decided which mortgage Application of a prospective Borrower you would like to make an invitation to offer, you may select the amount of money that you would like to lend and the interest rate that you would like to charge. You may also select the criteria that any borrower would have to meet. If a Borrower has accepted an invitation to offer from you, we ask you to reconfirm the offer to ensure the details are correct. Once confirmed by you, as entry into a mortgage commitment is a process supplied as part of the Service, we will then automatically populate all parts of the mortgage commitment and arrange for its execution by the Borrower and you (unless you provide us with your own mortgage commitment sample that has been reviewed and accepted by us). We will also send a Letter of Direction to you to be signed. DCL Entities may then conduct a final review to ensure that all required documents have been signed, and that all the conditions under the mortgage commitment have been fulfilled. Once such review is completed, if no document or information is missing, we will prepare instructions to be sent to your solicitor.
For the avoidance of doubt, any mortgage will be subject to the terms and conditions of the mortgage commitment and will be subject to the Lender Agreement signed between DCL Entities and you.
It is the Lender’s sole responsibility to ensure that the mortgage commitment that they consent to being used in the transaction has been verified independently by the Lender.
If the Lender sends an invitation to offer which is accepted by borrower, but does not execute a mortgage commitment, DCL Entities reserves the right to restrict or terminate the Lender’s authorized users’ access privileges at any time, for any reason whatsoever, in Brokerage’s sole discretion, without notice.
IF the Lender has a fully executed mortgage commitment and does not provide funds in a timely manner, DCL Entities reserves the right to restrict or terminate the Lender’s authorized users’ access privileges at any time, for any reason whatsoever, in Brokerage’s sole discretion, without notice.
You understand that by becoming a Lender, you will be granted full access to the information published about Borrowers, including sensitive information pertaining to their business and affairs. You are permitted to download and print the Contents only for your own records and personal use. You agree not to copy, reproduce, or disclose any of the Contents without DCL Entities.
You will be responsible for any breach of this provision, including any breach of intellectual property laws, and will indemnify and hold each of the DCL Entities and the applicable party harmless of any loss or damages suffered by them as a result of any breach of this provision.
If you no longer want to be a Lender on the Site, you may close your account by sending us an email at [email protected].
Without prejudice to any of its rights and remedies, DCL Entities may close your account at any time at its sole discretion, including, but not limited to, for reason of any of the following events:
Furthermore, each of the DCL Entities thereof reserve the right to take any action or measure against you to recover any and all damages incurred as a result of your actions.
You agree that any and all personal and non-personal information you provide to DCL Entities, including, but not limited to, any and all information you have submitted and/or will submit to Entities during the process to become a Lender, may and will be collected, stored, processed, and used in accordance with the Privacy Policy.
If you have any questions about the Terms of Service, the Privacy Policy, the Site, or any other aspect of our operations or if you wish to make a complaint, please contact us by e-mail at [email protected].
While all complaints and claims receive fair consideration, the filing of a complaint alone does not guarantee a satisfactory response or conclusion.
With respect to complaints, please note that you are responsible for all actions taken with your Credentials and you are bound by the Terms of Service, any mortgage commitments, as may be applicable.
While DCL Entities will use all reasonable efforts to ensure the functionality of the Site and uninterrupted access to the Site, access may be suspended, restricted, or terminated at any time. DCL Entities will not be responsible for any loss or damage suffered by any person, including any User, Borrower or Lender, because of any such suspension, restriction, or termination, as well as for any technical problem. You hereby agree that you will use the Site only for lawful purposes and in a way which does not infringe the rights of any other User, Lender or Borrower.
The invalidity or unenforceability of any of the provisions of the Terms of Service will not affect the validity of any other provision and such invalid provision will be deemed to be severable. No waiver of any breach of these terms and conditions will be effective or binding unless made in writing and signed by DCL Entities, and such waiver will be limited to the specific breach waived unless otherwise provided.
Your obligations pursuant to Terms of Service, any mortgage commitments, as may be applicable, shall survive the closing of your account.
The validity, interpretation and enforcement of the Terms of Service are governed by the laws of the Province of Ontario and the applicable laws of Canada. You hereby consent and submit to the exclusive jurisdiction of the courts located in the City of Toronto in the Province of Ontario, Canada, in all disputes arising out of or relating to the use of the Site, the Terms of Service and/or the Privacy Policy.
You release and hold harmless DCL Entities, their respective officers, directors, employees, consultants, representatives, agents, successors and assigns from and against any claim, cause of action or demand of any nature whatsoever arising from your use of the Site. UNLESS OTHERWISE SPECIFICALLY PROVIDED FOR UNDER APPLICABLE LAW YOUR USE OF THE SITE IS PROVIDED TO YOU "AS IS" AND “AS AVAILABLE”. DCL ENTITIES EXPRESSLY DISCLAIM ALL OTHER REPRESENTATIONS, WARRANTIES, AND CONDITIONS, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY REPRESENTATION, WARRANTY OR CONDITION OF MERCHANTABILITY, FITNESS FOR ANY PURPOSE, TITLE, OR NON-INFRINGEMENT, OR ANY WARRANTY ARISING FROM A COURSE OF DEALING, PERFORMANCE, OR TRADE USAGE. YOUR SOLE AND EXCLUSIVE REMEDY, AND DCL ENTITIES’ SOLE OBLIGATION TO YOU OR ANY THIRD PARTY FOR ANY CLAIM ARISING OUT OF YOUR USE OF THE SITE, IS THAT YOU ARE FREE TO DISCONTINUE YOUR USE OF THE SITE AT ANY TIME. UNLESS OTHERWISE SPECIFICALLY PROHIBITED BY LAW YOU EXPRESSLY UNDERSTAND AND AGREE THAT DCL ENTITIES SHALL NOT BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL CONSEQUENTIAL OR EXEMPLARY DAMAGES WHICH MAY BE INCURRED BY YOU REGARDING YOUR USE OF THE SITE, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY INCLUDING, BUT NOT LIMITED TO, ANY LOSS OF PROFIT, LOST OPPORTUNITIES, LOSS OF DATA SUFFERED, OR OTHER INTANGIBLE LOSS. DCL ENTITIES SHALL NOT BE LIABLE FOR DELAYS, INTERRUPTIONS, SERVICE FAILURES OR OTHER PROBLEMS INHERENT IN THE USE OF THE INTERNET, SOCIAL NETWORKS, ELECTRONIC COMMUNICATIONS, TELECOMMUNICATIONS NETWORKS OR OTHER SYSTEMS OR NETWORKS. THE LIMITATIONS ON DCL ENTITIES’ LIABILITY TO YOU IN THIS SECTION SHALL APPLY WHETHER OR NOT ANY DCL ENTITY HAS BEEN ADVISED OF OR SHOULD HAVE BEEN AWARE OF THE POSSIBILITY OF ANY SUCH LOSSES ARISING.
DCL ENTITIES MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, REGARDING ANY BORROWER. LENDERS HAVE COMPLETE CONTROL AND DISCRETION OVER WHETHER TO LEND TO A SPECIFIC BORROWER. NOTHING ANY OF THE DCL ENTITIES DOES AND NOTHING ON THE SITE IS INTENDED TO OPERATE OR BE CONSTRUED AS THE PROVISION OF ADVICE BY ANY OF THE DCL ENTITIES TO LEND. DCL ENTITIES MAKE NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, REGARDING ANY MORTGAGE APPLICATION OR ANY MORTGAGE COMMITMENT. THE SERVICES OFFERED BY THE DCL ENTITIES ARE NOT INTENDED AS A SUBSTITUTE FOR PROFESSIONAL ADVICE. PLEASE BE AWARE OF THE LAWS OF YOUR PROVINCE OR TERRITORY OR THAT OTHERWISE APPLY TO YOU WITH RESPECT TO ANY MORTGAGE COMMITMENT THAT IS PROVIDED. YOU ACKNOWLEDGE THAT YOU ARE ACCESSING THE SITE OF YOUR OWN INITIATIVE AND ARE RESPONSIBLE FOR COMPLIANCE WITH THE LAWS THAT ARE APPLICABLE IN YOUR JURISDICTION.
You should form your own opinion on the creditworthiness of any Borrower and undertake your own research, analysis, and assessment of each borrower before committing to lend and sign the mortgage commitment, and where necessary, seek independent professional advice. Although Borrowers represent and warrant that the information, they provide is true, complete, and accurate in all respects, and that such information does not contain information, omissions, or misrepresentations likely to affect a Lender’s investment decision, such information could prove to be false, inaccurate or contain misleading information or omissions or misrepresentations. You understand that the DCL Entities make no representation or warranty with respect to the accuracy or completeness of the information published on the Sites. DCL Entities disclaim all liability for any such information and for any material supplied by or contained on any external website linked to from the Site. You hereby renounce to and give DCL Entities complete and final release and discharge from, and with respect to, any and all claims, rights, and recourses, present or future, of any nature or cause whatsoever, directly, or indirectly, related to or resulting from your loan, accessing or use of the Site or related to any misrepresentation, omission, inaccurate or misleading information or any material fact presented on any the Sites.
The use of Site and the services offered by DCL Entities are not intended as a substitute for professional advice and do not replace consultations with a qualified professional. Please be aware of the laws of your jurisdiction or that otherwise apply to you with respect to the mortgage. You acknowledge that you are accessing the lending section of the Site of your own initiative and are responsible for compliance with the laws that are applicable in your jurisdiction. You hereby acknowledge and accept the consequences that may arise from lending. Furthermore, you acknowledge having consulted your legal advisor and that they have advised you on potential consequences and/or obligations pursuant to any mortgage commitments.
The Lender and every party for whom you act shall indemnify, hold harmless, and defend, the Brokerage, DCL, and its affiliates, subsidiaries, directors, officers, employees, shareholders, agents, successors and assigns from and against any and all loss, liability, claim, damage or expense, whether direct, indirect or consequential, any statutory or regulatory suit, action or proceeding for fines, penalties, costs, assessments, compliance or cease-and-desist orders and including legal fees on a full indemnity (i.e. solicitor and his/her own client) basis, which may be brought against them in tort, contract, statute or otherwise arising from, related to or in connection with the services provided by Lender or any of the activities of Lender contemplated by or undertaken pursuant to these Terms of Service, Privacy Policy, Lender Agreement, or any mortgage commitment, directly or indirectly, including but not limited to services provided through or activities of agent(s) of the Lender howsoever arising, Without limitation, the above indemnity obligation of the Lender shall also apply to:
(a) any inaccuracy or misrepresentation in any of the representations or warranties of the Lender;
(b) any breach or non-fulfilment of any of the covenants to be performed by the Lender;
(c) the negligence or wilful misconduct of the Lender;
(d) Any claim by a customer arising from, or related to, a mortgage application or mortgage commitment, including the way documents provided to the customer were described or any misrepresentations made by Lender therein and the use and/or misuse of a personal information of the customer;
(e) The Lender’s failure or refusal to act on an electronic instruction given or purported to be given by Brokerage and/or agent(s);
(f) Any non-compliance or alleged non-compliance by Lender of any applicable laws (regardless of whether or not a claim is successful).
(g) All reasonable costs incurred in defending any action, claim or proceeding.
(h) your breach of these Terms of Service or the Privacy Policy;
(i) your access to, use or inability to access or use the Site;
(j) your use of or reliance of information;
(k) your violation of any law or applicable regulation.
The indemnity provided in this section shall survive the termination of this Agreement.
You agree to cooperate with the DCL Entities in the contestation of any such claim, action, demand, or investigation.
Furthermore, you hereby renounce to and give to the DCL Entities complete and final release and discharge from, and with respect to, any and all claims, rights, and recourses, present or future, of any nature or cause whatsoever related to borrowing on the borrowing section of DCL or related to any misrepresentation, inaccurate or misleading information or any material facts unclearly presented on the Site. DCL Entities will not be liable for any information relating to any Borrower made available on the Site. DCL Entities may from time to time, but is not obliged to, update or modify a Borrower’s Materials. You are solely responsible for your information displayed on the Site.
SHOULD ANY PROVISION IN THE TERMS OF SERVICE VARY FROM ANY PROVISION IN ANY MORTGAGE COMMITMENT, SUCH MORTGAGE COMMITMENT SHALL PREVAIL. SHOULD ANY PROVISION IN THE TERMS OF SERVICE VARY FROM ANY PROVISION IN THE LENDER AGREEMENT, SUCH LENDER AGREEMENT SHALL PREVAIL.
If any provision of the Terms of Service is deemed unlawful, void, or unenforceable for any reason, that provision shall be severed, and the remaining provisions will remain in force and be fully enforceable.
These Terms of Service are to be governed by and applied and interpreted in accordance with the applicable laws in the Province of Ontario and the laws of Canada applicable therein, provided that the Lender shall comply with laws in the jurisdiction(s) in which it carries on business or which otherwise regulates its activities. The parties attorn to the exclusive jurisdiction of the courts of the Province of Ontario. In this Agreement, words importing the singular number only, include the plural and vice versa and words importing any gender, includes all genders. The term “including” means “including without limiting the generality of the foregoing.
The Terms of Service apply for the benefit of DCL Entities, their officers, directors, employees, consultants, representatives, agents, successors, and assigns. You cannot assign the Terms of Service or the rights and obligations granted to you thereunder without the express prior written consent of DCL Entities, which DCL Entities may refuse at its discretion. DCL Entities may assign the Agreement and the rights and obligations granted thereunder without your consent. No consent or waiver by DCL Entities of any breach or default by another party under the Agreement shall be construed as consent to or waiver of a continuing breach or default or any other breach or default of these obligations or any other obligation of that party. All rights not expressly granted by the Terms of Service or the Privacy Policy are reserved by DCL Entities.
These Terms of Service were updated as of September 29, 2021.
