Newbridge Advantage

Link to: APPENDIX TO APPLICATION

Terms and Conditions – Newbridge Advantage Personna Line of Credit  

Last Revised on: 23-NOV-2012

IMPORTANT – Please Read Carefully

“You” and “your”, refer to the borrower and any co-borrower, co-signer and/or guarantors under this agreement.  “We”, “our”, “us” and Newbridge refer to Newbridge Advantage (who is the Marketer), and/or Newbridge Capital (who is the Underwriter and Credit Grantor of this secured line of credit).  

This document constitutes the agreement (“Agreement”) detailing the terms and conditions under which the Newbridge Advantage Personna Line of Credit or Secured Line of Credit (the “LOC Account”) has been issued to you. 

If we issue a LOC Account to you, we will simultaneously, at our discretion, issue to you a Newbridge Advantage Prepaid Card (“Card”).  You may use the Card to draw funds from your LOC Account.  Newbridge may, from time to time, require you to provide collateral.  All funds deposited to your Collateral Account will be in Canadian dollars. The Collateral is not CDIC guaranteed.   If you keep and use the Card and LOC Account you agree to be bound by the terms of this Agreement and other program/offer Agreements to which you may participate.  Furthermore, you also agree to the terms of the Newbridge Privacy Agreement which has been provided to you.  Your application also forms part of this agreement.

YOUR RIGHTS AND OBLIGATIONS

USING YOUR ACCOUNT – To use your LOC Account is as simply as using your Newbridge Advantage Prepaid Card. 

Should you be required to transfer Collateral to us, you may make a request for a transfer of funds through your member account on our website at: www.NewbridgeAdvantage.com.  On receiving your Security Newbridge will release an available credit limit to your LOC Account.   

You understand and agree that you are liable for all advances incurred on your LOC Account.  Furthermore, your LOC Account and Card is for your own Personal use only and may not be transferred or assigned to any other party. 

For your convenience, you have two methods of making payment to your LOC Account: (a) you can request Newbridge to electronically transfer a predetermined amount of Funds on the first business day of each month from your bank account to your LOC Account; or (b) you can make a onetime on-demand request through our website (www.NewbridgeAdvantage.com) to make Payment to your LOC Account.   

Available credit limit on your LOC Account will automatically be advanced on to your Card, and will be considered an advance from your LOC Account, and an outstanding balance will be created on your LOC Account. 

Newbridge is not responsible for the funds loaded onto your Card due to any loss, damage or injuries in connection with loss, theft, or fraudulent use of your Card save except losses that are the result of the negligence, wilful misconduct or beach or warranties under this agreement.  Any Collateral or funds transferred to Newbridge are not guaranteed under CDIC.  In case of errors or questions about your Card account, call 1-800-624-6171 or write to TruCash Cardholder Services, 2680 Skymark Ave. Suite 420, Mississauga ON L4W 5L6.

You can use the Card wherever it is accepted.  Refer to the Cardholders Agreement that came with your Newbridge Advantage Prepaid Card for terms of use and additional conditions.  Should you wish to obtain another copy of the Cardholders Agreement you can find it on our website at www.NewbridgeAdvantage.com.

You agree that your LOC Account and Card may only be used for personal, household or family purposes unless this LOC Account is issued to a business in which case they may also be used for business purposes.

You may not use this LOC Account, Card, or any other programs/offers for any transactions which is illegal, including the purchase of goods or services prohibited by local law applicable in your jurisdiction and/or the jurisdiction where the purchase is made.

REPAYING THE AMOUNT YOU OWE – When advances are made to you, you incur a debt. The debts incurred by you can be settled with payment to your LOC Account at the end of each month or required payment period.  We will add, if applicable, interest, service charges, and annual/monthly fees that we can charge you under this agreement to your debt which will form part of your debt to us.  If we require the service of a third party to retrieve the debt from you, we may add the cost of the retrieval, enforcement and/or legal costs to your debt.  You agree to repay any debt owed to us.

MAKING A MINIMUM MONTHLY PAYMENT – Your minimum payment is determined by your approved account limit; which can change from time to time as determined by us initially when you first applied and annually when we review your account.  The minimum monthly payments are:

You must pay each month the above monthly minimum monthly payment or an amount up to the full outstanding balance on your LOC Account.  The monthly payment less any applicable interest, service charges, and fees will be applied to your outstanding LOC Account balance to offset your indebtedness to us.

CHANGING YOUR ADDRESS - You will tell us in writing or by any other means which we permit, if you change your address. You agree to also give us other information that we may need from time to time to keep our records up to date.

CANCELLING THIS AGREEMENT – You can cancel this agreement by telling us in writing that you want to do so.  At any time you cancel this agreement, we reserve the right not to reinstate or accept you back into the Newbridge Advantage Personna program for up to 12 months. 

We can cancel this agreement and demand payment on the full outstanding amount without a reason by giving you 30 days’ written notice.  We can also cancel this agreement without written notice or any notice whatsoever if you are not handling your LOC Account in accordance with this agreement or our requirements.  In addition, we can also cancel your Card and require you to return it to us, or to someone acting on our behalf, when we ask for them. The Card is our property. If either of us cancels this agreement, you still have to pay your debt and any other amounts you owe us in full immediately. 

OUR RIGHTS AND OBLIGATIONS

MAINTAINING YOUR ACCOUNT – A pre-authorized payment agreement have been put in place, and on the 1^st of each month a minimum monthly payment will be drawn from your specified bank account and the amount less any fees will be applied to your outstanding LOC Account balance with us.  If there are any over payments on your LOC Account, Newbridge will refund the amount back to you within 5 business days following your pre-authorized payment by depositing the funds on to your Card.

MANAGING YOUR FINANCE – We encourage you to check your LOC Account statement on a regular basis to verify the transactions on your LOC Accounts.  Furthermore, you can also track your spending on your Card account through the online e-wallet at www.NewbridgeAdvantage.com. 

RATES and FEES¹ – Personna Line of Credit:

1. Fees and Rates expressed are in Canadian dollars.
2. Application fee is non-refundable once the application is approved for the Personna Line of Credit.
    ($99.00 is a limited time promotion and may expire without notice.)

For fees relating to any other programs offered through Newbridge Advantage, you may refer to the programs/offers agreements on our website www.NewbridgeAdvantage.com for more details.

NOTICE OF CHANGE FOR FEES, RATES, AND SERVICES – We will post notice on our website www.NewbridgeAdvantage.com any changes to: interest rates, services, and fees.  It is your responsibility to check for these notices periodically.  All notice of change will be posted 30 days in advance of when a change will take effect.

ACCOUNT STATEMENT – We do not send out statements for your Card account or for your LOC Account.  For information on your balance and detail spending of your accounts you can login to your Personna Line of Credit or your Card account through www.NewbridgeAdvantage.com.  However, should you require a statement you can order statements by calling our office at 416.410.2188 or by faxing your request to 888.746.1735; a paper statement fee will apply.

LANGUAGE – The parties have requested that this agreement and all documents related to it be drawn up in English.  Les parties conviennent et exigent expressément que ce contrat et tous documents émis en vertu de celui-ci soient rédigés en anglais.

Newbridge Advantage
3000 Steeles Avenue East, Suite 300
Toronto, Ontario L3R 4T9
Tel: 416.410.8200
Fax: 888.746.1735

Info@NewbridgeAdvantage.com