IMPORTANT: PLEASE READ THIS AGREEMENT BEFORE ACCESSING BMO MUTUAL FUNDS INTERNET AND ELECTRONIC TRADING SERVICES. YOUR USE OF THE SERVICES, AS DEFINED BELOW, WILL INDICATE THAT YOU HAVE READ THIS AGREEMENT AND WILL ACT AS YOUR ACCEPTANCE OF AND AGREEMENT TO BE BOUND BY THE TERMS AND CONDITIONS HEREIN AND ANY OTHER TERM, CONDITION OR RESTRICTICTION APPLICABLE IN RESPECT OF THE SERVICES.
In this Agreement, the terms you, your, yourself, and yours refer to you, the account holder. The terms BMO Mutual Funds, we, us, and our refer to BMO Investments Inc., and its directors, employees and agents. In consideration of us giving you access to BMO Mutual Funds Internet and Electronic Trading Services, you agree to the following:
1. Definition of terms - In this Agreement:
a) "Access Device" means any device, such as a telephone, cellular phone, portable phone, personal computer, intelligent terminal or similar device, that you use to access the Services.
b) "Account" means your BMO Mutual Funds account with BMO Investments Inc.
c) "Password" means the personal password selected by you for access to the Services using the Access Device.
d) "Investment" means mutual funds, term deposits or other investments.
e) "Services" means the BMO Mutual Funds Internet and Electronic Trading Services and any and all related services, and the information, documents, software and content thereof.
f) "Transaction Request(s)" means any buy, sell, or switch or other request to deal in any Investment that is created and transmitted to BMO Investments Inc. Transaction Request also includes any request to change your personal information, including your investment objectives, time horizon or risk tolerance.
2. The Services
Your first use of any of the Services will act as your acceptance of an agreement to be bound by the terms and conditions herein (as may be amended from time to time) and your acceptance of any other term, condition or restriction applicable in respect of the Services. BMO Investments Inc. may change the terms and conditions of use at any time without notice by updating this Agreement. You agree to review the terms of this Agreement periodically and your continued access to or use of the Services will constitute your agreement to any such changes.
3. Passwords and Password Protection
A Password is required to access your account information and to submit a trade for your account. You are responsible for creating your Password, as well as for keeping it confidential and ensuring that it is used only by yourself or by parties which are legally authorized to do so (e.g, a joint accountholder or a person authorized by your power of attorney). You agree to avoid selecting an obvious Password, such as a street address, date of birth, or telephone number, and you agree to change your Password on a regular basis to reduce the potential for unauthorized use.
You agree to be solely responsible for maintaining the security of your Password and that you will be liable for all costs, charges and losses incurred through the use of your Password. We will not be responsible for any unauthorized access to your accounts through your Password.
You agree that you will advise us immediately if you become aware of any unauthorized use of your Password. We may, without notice, terminate this Agreement if we believe that your Password is being used inappropriately or without authorization, or if there is any unusual activity in your account.
4. Transaction Requests
You acknowledge and agree that:
i. You hereby authorize us to accept all Transaction Requests from your Account using the Services and you agree that you are solely responsible for the accuracy of your Transaction Requests;
ii. BMO Investments Inc. may exercise its sole discretion in acting on any Transaction Requests placed through use of your Password, whether the Transaction Request was placed by you, by someone else or in error, and will not incur any liability by reason of acting or failing to act in respect of such Transaction Requests;
iii. BMO Investments Inc. has the right to determine, at its discretion, whether or not any Transaction Request is acceptable and whether to process any Transaction Request;
iv. Transaction Requests may not be processed if your account is not in good standing, if you do not have sufficient funds to complete the transaction or if the request is not consistent with your stated investment objectives and risk profile;
v. prior to processing, all Transaction Requests must be reviewed and approved by one of our qualified representatives. If your request is not approved for any reason, it may be cancelled. In certain circumstances, we may request additional confirmation of a Transaction Request before processing;
vi. any request to buy, switch or redeem BMO mutual fund units that is submitted and approved before 4:00 p.m. Eastern Time on a business day will be processed at that day's unit price. [Any requests received or approved after 4:00 p.m. (ET), will be processed at the next business day's price.] Requests for transactions which relate to third-party mutual funds or funds that are to be held in BMO CustomSelect portfolios that are submitted or approved after 3:00 p.m. (ET), or on a non-business day, will generally be processed at the next business day's price.
vii. in order to allow us to provide you with these Services, you agree to permit BMO Investments Inc. to access and share client information about you held by members of BMO Financial Group; and
viii. for mutual protection, BMO Investments Inc. keeps records of all Transaction Requests received in our database. These records will be conclusive and binding on you in any disputes, including any legal proceedings, as evidence of your account transactions using the Services, in the absence of clear proof that our records are erroneous or incomplete.
You must advise us immediately if you: placed a Transaction Request, but did not receive a written confirmation; placed a Transaction Request, but received an inaccurate written confirmation; or received a written confirmation for a request that you did not make.
5. Interruptions in Service
The Services may periodically be unavailable to allow for maintenance or updates or other reasonable cause. We will not be responsible for any service interruptions due to negligence (except gross negligence), omission, or any forces beyond our control, including, but not limited to, acts or omissions of suppliers, failure of electronic or mechanical equipment or communication lines, connection problems, theft, power failure, and equipment or software problems.
6. Liability Limitations
BMO Investments Inc. will not be liable to you or anyone else for any damages, whether direct or indirect, consequential or special, exemplary or punitive losses, costs or injury suffered by you, or by others, related to the use of the Services or cancellation of any or all of the Services by us.
7. Client Information
You agree that all personal information that you provide to us (including your investment objectives, time horizon, risk tolerance, address, telephone number and e-mail address) is complete, true and up to date. You also agree to advise us of any changes in your personal information as soon as the change occurs.
8. Available Only Where Permitted by Law
The Services are only available in jurisdictions where they may legally be offered.
9. Cancellation of Service/Restrictions
Any restrictions which are currently on your account will also apply to your use of the Services. Certain types of accounts may be restricted from using the Services. We may modify or cancel any or all Services at any time without notice to you. We will advise you of any such changes by notice in writing or via the Internet. Your continued use of the Services after the effective date of any such amendments shall constitute for all purposes your agreement and consent to any such amendments.
BMO Investments Inc. may terminate this Agreement at any time without notice. BMO Investments Inc. will have no liability for any loss or inconvenience that may result. The obligations described above relating to your Passwords and Transaction Requests will survive the termination of this Agreement.
You acknowledge that you have read, understand and agree to accept and be bound by the terms of the legal notices incorporated by reference herein.
This Agreement is in addition to, and not in substitution of, any other present or future agreement between you and BMO Investments Inc. If there is a conflict between this Agreement and your account agreement, this Agreement shall govern. In all other respects the terms of your account agreement shall also apply to this Agreement.
13. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein.
14. Successors and Assigns
This Agreement shall be binding on the respective successors and permitted assigns of the parties hereto.
15. No Assignment
You agree that you may not assign the rights and obligations hereunder without our prior written consent.
If any provision of this Agreement is held to be invalid or unenforceable, such invalidity or unenforceability shall attach only to such provision. The validity of the remainder of the Agreement shall not be affected.
This Agreement has been drafted in the English language at the express request of the parties. Les parties conviennent que la présente convention et tous les documents s'y rattachant soient rédigés en anglais.