APPLICATION FOR SURETYSHIP ATTESTATION
TERMS AND CONDITIONS

APPLICATION FOR SURETYSHIP ATTESTATION

TERMS AND CONDITIONS

Effective November 23, 2018

The terms and conditions provided herein govern your rights and obligations as well as the rights and obligations of LOCNEST HOLDING INC. (“LOCNEST”) with respect to your application for a suretyship attestation (the “Attestation”) from LOCNEST for a prospective residential lease (your “Application”). Therefore, please read these terms and conditions carefully, as well as our Privacy Policy, which forms an integral part hereof.

Article 1. Conditions:  To apply for an Attestation from LOCNEST, you must have reached the age of majority in your province/territory of residence and have the capacity to conclude a valid and enforceable contract with us and to not be prohibited from doing so pursuant to any applicable law. In addition, any Attestation issued by LOCNEST is only valid for prospective residential leases located in Quebec, Ontario, British Columbia, or Alberta. You hereby acknowledge that you have read, understand and accept to be legally bound by these terms and conditions, including our Privacy Policy. You also hereby certify that any information that you provide to LOCNEST is complete, accurate and reliable in all respects, and that you agree to ensure that any such information will be complete, accurate and reliable in all respects, at all times.

Article   2.  Personal and Non-Transferable Attestation : The Attestation is personal and is issued to the person named on the Attestation and may not be assigned, transferred, sold, or conveyed to anyone else.

Article 3. Credit Check: By submitting your Application, you consent to LOCNEST conducting a credit check against you with a credit agency and to LOCNEST collecting and using your personal information, such as name, address, date of birth, occupation, credit file information, as well as other basic information that allows us to verify your creditworthiness and solvency, solely for the purposes of determining whether or not to approve your Application. Within the scope thereof, your personal information may be provided by LOCNEST to other organizations, including credit agencies and other service suppliers of LOCNEST. LOCNEST handles lessees’ personal information strictly as required by law. For more details concerning the manner in which LOCNEST handles personal information, please consult our Privacy Policy.

Article 4. Application Process: LOCNEST will consider your Application once LOCNEST has received all of the required information, consents, and confirmations as well as the payment of the non-refundable Attestation application fee of $25, plus applicable taxes (the “Application Fee”). The Application Fee shall be due and payable in its entirety prior to the issuance of the Attestation.

Article 5. Rejected Applications: In the event that your Application is rejected due to a failed credit check, you shall receive an email from LOCNEST informing you of the reasoning for said rejection. You shall be granted the opportunity to provide further documentation to certify your creditworthiness in order for LOCNEST to re-examine your Application. Notwithstanding the foregoing, LOCNEST reserves the right to refuse your Application, in its sole and unfettered discretion, without having to provide you with any explanation.

Article 6. Accepted Application: If your Application is accepted, LOCNEST shall send you an email (i) confirming that you are eligible for a suretyship from LOCNEST and (ii) issuing you an electronic Attestation as an attachment to the email. Pursuant to the Attestation, LOCNEST will confirm that from the start date indicated on the Attestation, (the “Start Date”) until 60 days later on the end date indicated on the Attestation (the “End Date”), you meet the requirements in order for LOCNEST to issue you a lease suretyship certificate.

Article 7. LOCNEST’S RESPONSIBILITY: TO THE EXTENT PERMITTED BY LAW, LOCNEST, ITS AFFILIATES AND ITS AND THEIR RESPECTIVE OFFICERS, SHAREHOLDERS, EMPLOYEES, AGENTS, DIRECTORS, SUCCESSORS, ASSIGNS, AND SUPPLIERS SHALL NOT BE HELD LIABLE IN ANY CASE, FOR ANY INDIRECT, SPECIAL, ACCESSORY, PUNITIVE, EXEMPLARY OR CONSECUTIVE DAMAGES, INCLUDING, WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE LOSS OF PROFIT OR INCOME, THE LOSS OF THE ENJOYMENT OF PROPERTY OR OF ANY RELATED PRODUCT, THE COST OF CAPITAL, THE COST OF REPLACEMENT PRODUCTS, FACILITIES OR SERVICES, THE COST OF DOWNTIME, OR THE CLAIMS BY ANY LESSOR, LESSEE OR THIRD PARTY FOR SUCH DAMAGES, REGARDLESS OF WHETHER THE LIABILITY IS BASED ON CIVIL LIABILITY (CONTRACTUAL OR EXTRACONTRACTUAL), A GUARANTEE, A TORT (INCLUDING NEGLIGENCE) OR ANY OTHER LEGAL BASIS. THE AGGREGATE LIABILITY OF LOCNEST, ITS AFFILIATES AND ITS AND THEIR RESPECTIVE OFFICERS, SHAREHOLDERS, EMPLOYEES, AGENTS, DIRECTORS, SUCCESSORS, ASSIGNS AND SUPPLIERS FOR ALL CLAIMS WITH RESPECT TO YOUR APPLICATION CANNOT EXCEED THE AGGREGATE AMOUNT OF ALL FEES THAT YOU HAVE PAID TO LOCNEST IN RELATION TO YOUR APPLICATION, TO THE LARGEST EXTENT PERMITTED BY LAW.

Article 8. Suretyship: For clarity, the Attestation is not, and shall not be construed in any way as, a suretyship. If you have already received an Attestation from LOCNEST and then wish to apply for a suretyship certificate for a specific rental property, please fill in the form at the following link https://locnest.com/ca-en/guarantee-application/ and enter the reference number indicated on your Attestation in order to avoid paying the related suretyship application fee.  We invite you to consult the related Terms and Conditions for the Application for Suretyship for a Residential Lease and our General Terms and Conditions of Suretyship of a Residential Lease.

Article 9. Amendments: Any amendment or modification to the Application must be made in writing by the parties. The terms governing any amendment or modification to our Privacy Policy are set forth in our Privacy Policy.

Article 10.  Notices: Any communication and any notification from LOCNEST you relating to the Attestation shall be validly sent electronically, including through the automated technological procedures accessible on LOCNEST’s website, to the email address indicated on the Application or to any new email address provided in writing by yourself.

Article 11.  Governing Law: To the fullest extent permitted by applicable Canadian law, this agreement and the rights and obligations of the parties thereto are governed by, and are to be construed and interpreted in accordance with the laws of the Province of Quebec, excluding any rules of conflicts of law. The parties irrevocably submit to the jurisdiction and venue of the courts sitting in the City of Montreal.

Article 12. Miscellaneous: Should any provision of your Application or these terms and conditions be declared inapplicable, invalid, void or otherwise unenforceable for any reason whatsoever, such provision shall be automatically severed and shall no longer form part of your Application or these terms and conditions, and the Application and validity of other provisions of these terms and conditions shall not be affected. LOCNEST may assign in whole or in part its rights and obligations resulting from your Application at any time and without your consent. These terms and conditions, including the Privacy Policy, constitute the entirety of the agreement concluded between you and LOCNEST and supersede and replace any prior oral or written agreement with respect to the subject matter hereof. The headings of sections of this agreement are for reference purposes only and have no substantive effect.

Article 13. Language: The parties confirm that it is their wish that this agreement, as well as any other documents relating to this agreement, including notices, schedules and authorizations, have been and shall be drawn up in the English language only. Les signataires confirment leur volonté que la présente convention, de même que tous les documents s’y rattachant, y compris tout avis, annexe et autorisation, soient rédigés en anglais seulement.