Cost of Borrowing (Canadian Insurance Companies) Regulations (SOR/2001-102)
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Regulations are current to 2024-10-30 and last amended on 2020-03-16. Previous Versions
SCHEDULE 1(Subsections 6(2.1) and (2.2))
Information Box — Credit Agreement for a Fixed Interest Loan for a Fixed Amount Referred to in Subsection 8(1)
| Principal Amount | (Indicate the principal amount of the loan.) |
| Annual Interest Rate | (Indicate the applicable annual interest rate and provide a brief description of how the interest is compounded, if applicable, and charged.) |
| Annual Percentage Rate | (Indicate the APR, if it differs from the annual interest rate, and provide a brief description of how it is determined.) |
| Term | (Indicate the number of months or years of the term of the loan and whether the term is open or closed, and provide a brief explanation of what “open” or “closed”, as applicable, means.) |
| Date of Advance | (Indicate the date on which the principal amount of the loan is to be advanced and the date on which interest is to begin to be charged.) |
| Payments | (Indicate the amount of each payment and the date on which each payment is due and provide a brief description of the components of a payment and the frequency of the payments.) |
| Amortization Period | (Indicate the number of months or years of the amortization period, if that period is different from the term of the loan.) |
| Prepayment Privilege | (Provide a brief description of the conditions under which a borrower may repay a greater portion of the loan than required in any given period without incurring penalty charges for the prepayment of the loan, if applicable.) |
| Prepayment Charges | (Indicate the amount of the penalty charges, if any, for prepayment of the loan or provide a brief explanation of the manner in which the penalty charges are calculated.) |
| Default Insurance | (Indicate the amount of charges for insurance against default on a high-ratio mortgage or hypothec, if any.) |
| Other Fees | (Provide a list of the types and amounts of any other charges, other than interest charges.) |
- SOR/2009-262, s. 11
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