Terms and Conditions

Scope of Services

Bonto is an online mortgage brokerage platform that offers clients the best possible mortgage rates for their financial situation. We offer mortgage products from almost all Canadian banks. These terms and conditions (the “Agreement”) are governed by the laws of Canada and the Autorité des marchés financiers. By accessing or using the Bonto website (the “Site”), you agree to be bound by the terms and conditions set forth in this Agreement. If you do not agree to all of the terms and conditions of this Agreement, you may not use the Site.

The Site is intended for use by individuals who are at least 18 years old. By using the Site, you represent and warrant that you are at least 18 years old and have the legal capacity to enter into a binding agreement.

Definitions

Mortgage: A loan used to purchase a property or refinance an existing mortgage.

Mortgage rate: The interest rate applied to a mortgage loan.

Mortgage term: The length of time over which a mortgage loan is repaid.

Fixed rate mortgage: A mortgage with an interest rate that remains the same for the entire term of the loan.

Variable rate mortgage: A mortgage with an interest rate that can fluctuate over time based on market conditions.

Principal: The amount of money borrowed under a mortgage loan, not including interest.

Interest: The cost of borrowing money, expressed as a percentage of the principal.

Down payment: The upfront payment made by a borrower towards the purchase of a property.

Closing costs: Fees and expenses associated with the closing of a mortgage loan, such as appraisal fees, title insurance, and legal fees.

Pre-approval: A preliminary assessment of a borrower’s ability to qualify for a mortgage loan, based on their financial situation and credit history.

Responsibilities of the Client

The client is responsible for providing all necessary documents and information in a timely manner. This includes, but is not limited to, proof of income, employment, assets, and liabilities. The client is also responsible for complying with all terms and conditions of the mortgage loan.

Responsibilities of the Bank

The bank is responsible for approving and funding the mortgage loan in accordance with the terms and conditions of the loan. The bank will also be responsible for servicing the loan, including collecting payments and addressing any issues that may arise during the term of the loan.

Disclaimer of Warranties

THE SITE AND ALL INFORMATION, CONTENT, MATERIALS, PRODUCTS (INCLUDING SOFTWARE) AND SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THE SITE ARE PROVIDED BY BONTO ON AN “AS IS” AND “AS AVAILABLE” BASIS, UNLESS OTHERWISE SPECIFIED IN WRITING. BONTO MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE OPERATION OF THE SITE OR THE INFORMATION, CONTENT, MATERIALS, PRODUCTS (INCLUDING SOFTWARE) OR SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THE SITE, UNLESS OTHERWISE SPECIFIED IN WRITING. BONTO DOES NOT WARRANT THAT THE SITE WILL BE AVAILABLE AT ALL TIMES OR THAT THE INFORMATION CONTAINED ON THE SITE IS ACCURATE, COMPLETE, OR UP-TO-DATE.

Modification of Terms

Bonto reserves the right to modify these terms and conditions at any time. Such modifications shall be effective immediately upon posting of the modified Agreement on the Site. Your continued use of the Site following the posting of the modified Agreement will constitute your acceptance of the modified terms and conditions. It is the client’s responsibility to check for updates to the Agreement.

Dispute Resolution

Any disputes arising from the use of the Site or the services provided by Bonto shall be resolved through [arbitration/the courts].

Limitation of Liability

IN NO EVENT SHALL BONTO BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES THAT RESULT FROM THE USE OF, OR INABILITY TO USE, THE SITE. THIS LIMITATION APPLIES WHETHER THE ALLEGED LIABILITY IS BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR ANY OTHER BASIS, EVEN IF BONTO HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.

Indemnification

You agree to indemnify and hold Bonto, its affiliates, and their respective officers, agents, and employees, harmless from any and all claims, demands, losses, liabilities, and expenses (including attorneys’ fees), made by any third party due to or arising out of your use of the Site, your violation of this Agreement, or your violation of any rights of another.

Termination

Bonto reserves the right to terminate your access to the Site at any time and for any reason, without notice.

Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the Province of Quebec, without giving effect to any principles of conflicts of law.

Severability

If any provision of this Agreement is found to be invalid or unenforceable, that provision shall be enforced to the maximum extent possible, and the remaining provisions shall remain in full force and effect.

Waiver

The failure of Bonto to exercise or enforce any right or provision of this Agreement shall not constitute a waiver of such right or provision.

Entire Agreement

This Agreement constitutes the entire agreement between you and Bonto and governs your use of the Site, superseding any prior agreements between you and Bonto.