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What the Words Mean: As these RBC Referral Awards Terms and Conditions (“Terms and Conditions”) are read, please remember that, "I", "me" and "my" mean the Eligible Participant for enrolment in the RBC Referral Awards Program; and "you" and "your" mean Royal Bank of Canada ("Royal Bank").

Please also remember that in these Terms and Conditions:

  • "Authorized User" means an individual, other than the Personal Applicant and the Co-Applicant, to whom you issue a Card on a Personal Account at the request of the Personal Applicant or the Co-Applicant.
  • “Business Credit Card Account” means any business credit card account that allows you to earn Points.
  • "Card" means any credit card you issue on an Account and all renewals of, and replacements for, that credit card;
  • “Cardholder” means an individual to whom you issue a Card on a Credit Card Account;
  • “Credit Card Account” means any Personal or Business Credit Card Account that allows you to earn Points. Commercial Credit Card Accounts are not included.
  • "Co-Applicant" means an individual who applies for a Personal Account as the co-applicant, and to whom you have issued a Card;
  • “Eligible Clients” means individuals whose properties are not presently encumbered by a mortgage in favour of Royal Bank of Canada, Royal Trust Corporation of Canada or The Royal Trust Company, who currently own or will be purchasing a property that meets with your lending criteria for residential mortgage properties and whose mortgages have been identified by you from time to time as meeting the eligibility requirements to earn Points or receive Non-Points Recognition through the Program;
  • “Eligible Participant” means the individual who has enrolled in the Program and meets all requirements for eligibility in the Program;
  • “Good Standing” for my RBC Referral Awards Account means that my Account has not been terminated as defined in section 16 of these Terms and Condition and for my RBC Rewards Account has the meaning given in the “Accounts and Cards in good Standing” section of the RBC Rewards T&Cs
  • "Non-Points Member" means an Eligible Participant who may receive Non-Points Recognition under the Program but may not earn Points;
  • "Non-Points Recognition" means a recognition under the Program other than Points as defined in Section 4 of these Terms and Conditions;
  • “Personal Credit Card Account” means any personal credit card account that allows you to earn Points.
    “Personal Applicant” means the individual who has applied for and who is the primary Cardholder on the a Personal Credit Card Account. For greater certainty, a Personal Applicant does not include a Co-Applicant or an Authorized User;
  • "Points" means RBC Rewards points;
  • "Points Member" means an Eligible Participant who earns Points but may not receive Non-Points Recognition;
  • "Program" means the RBC Referral Awards Program;
  • RBC Rewards Program” means the rewards program administered by you;
  • “RBC Rewards Account” means the nominal account tied to an Credit Card Account or a Card that Royal Bank opens and maintains for the crediting and debiting of Points in connection with the Program;
  • “RBC Rewards T&Cs” means the RBC Rewards Terms and Conditions;
  • "RBC Referral Awards Account" means the account you have opened on my name for tracking of Points and Non-Points Recognition earned or received in connection with the Program;
  • "Reward(s)" means any reward for which Points may be redeemed for under the RBC Rewards Program;

 

I agree with you as follows:

1. General Terms and Conditions:

(a) These Terms and Conditions apply to the Program and to my access to the RBC Referral Awards website. If I am a Points Member, the RBC Rewards Terms and Conditions (“RBC Rewards T&Cs”) also apply, which include terms and conditions relating to points redemption and expiry.  The RBC Rewards T&Cs can be found at https://www.rbcrewards.com/#!/terms-and-conditions.

(b) These Terms and Conditions replace all prior terms and conditions with respect to the Program.

(c) In case of discrepancy between these Terms and Conditions and the RBC Rewards T&Cs, the RBC Rewards T&Cs will prevail.

Eligibility: To be eligible to enroll in the Program I must be an individual, a Canadian resident and either (i) working as a realtor in Canada (ii) an employee of a builder that is approved by Royal Bank or (iii) an Insurance Broker, Independent Financial Planner/Advisor, Lawyer or Accountant and other Participants as determined by RBC from time to time. In addition, I understand that in order to participate in the Program I must be licensed in accordance with the provincial rules applicable to me and that I may have other obligations under applicable law. I agree to comply at all times with all applicable federal and provincial legislation and regulations, including without limitation all applicable real estate, mortgage broker or other licensing requirements, as well as the regulations of any real estate governing body or association. In consideration of your enrolling me in the Program, I hereby release, indemnify and hold you harmless against any and all claims whatsoever arising as a result of my failure to comply, in whole or in part, with any such applicable legislation and regulations.

Employees of Royal Bank of Canada, its subsidiaries or its affiliates are not eligible to enroll in the Program.

Eligible Participants can elect to enroll as either a “Points Member” or a “Non-Points Member” provided that Eligible Participants in the Province of Alberta may only enroll in the Program as Non-Points Members and shall not enroll as Points Members. If I am a Non-Points Member who is not in the Province of Alberta, I may elect to change my membership status to that of “Points Member” at any time. Likewise, if I am a Points Member I may elect to change my membership status to that of “Non-Points Member” at any time. The Program is not available in the Province of Quebec. To enroll as a Points Member, an Eligible Participant must be a Cardholder with a Personal Credit Card Account or a Business Credit Card Account and have an RBC Rewards Account with access to the Points earned with your Card and can redeem the Points for your own benefit. Commercial Credit Card holders are not eligible to enroll as a Points Member. The Points you receive for Referral made through the Program will be awarded to the RBC Rewards Account already tied to the Card. You are responsible for ensuring that the RBC Rewards Account you use to sign up with the Program provides you with access to the Points earned with your Card and allows you to redeem the Points for your own benefit.  Authorized users are not eligible to be a Points Member in the Program.

2. Referrals: The Program is available to me if (i) I refer Eligible Clients to you, (ii) the referral results in a fully advanced first ranking residential mortgage or RBC Homeline Plan® mortgage on the property, (iii) at the time the mortgage funds are advanced my RBC Referral Awards Account is in good standing and, (iv) if I am a Points Member, if my Credit Card Account and/or Card is in Good Standing as defined in the RBC Rewards T&Cs. A qualified mortgage referral includes a mortgage referral in respect of purchases and switch/transfer mortgages from another financial institution to Royal Bank. A qualified mortgage referral does not include mortgage referrals in respect of (1) raw land; (2) commercial property; (3) residential property that is, at the time of the referral, mortgaged by the referred client to Royal Bank; or (4) a client who owns residential property that is, at the time of the referral, mortgaged to Royal Bank, if the client intends to transfer or sell such property and obtain mortgage financing for the purchase or acquisition of another residential property. I acknowledge that to qualify for financing, the Eligible Client and his/her property must meet your lending criteria for residential properties. I further acknowledge that you may in your sole discretion refuse to provide financing to an Eligible Client, in which case no Points will be awarded to Points Members and no Non-Points Recognition will be awarded by Non-Points Members. I acknowledge that membership in the Program is solely for my benefit and that I may not share the benefits of the Program with another person.

3. Disclosure: I shall disclose to, and obtain the consent of, all Eligible Clients I refer to you, in the form required under applicable law, the fact that I will be sharing their personal, financial and/or business information with you for purposes of facilitating this referral and that I receive compensation, profits, fees, commissions or other payments from you in respect of the referral to you. I understand and agree that I am not authorized to provide any details or make any representations on any of your products and services including residential mortgages and RBC Homeline Plan.

4. Non-Points Recognition: Non-Points Recognition is provided under the Program to Non-Points Members. Non-Points Recognition recorded in my RBC Referral Awards Account has no cash value and cannot be exchanged for cash. Non-Points Recognition is not transferrable to another person. Non-Points Recognition under the Program is used as a means of tracking mortgage referrals.

5. Points: Points are awarded under the Program to Points Members and have no cash value, and cannot be exchanged for cash. However, in certain situations or for certain types of redemption options including Payback with Points, Pay Bills with Points, or when my Credit Card Account is not in Good Standing and you decide to use my Points to pay a debt on my Account, you attribute a monetary value to Points . Points may only be redeemed, transferred, converted, or moved to another RBC Rewards Account or another loyalty program with partners that you designate from time to time, in accordance with the RBC Rewards T&Cs. For more information, I will refer to the RBC Rewards T&Cs.

6. Earning Points and Receiving Non-Points Recognition: My RBC Referral Awards Account is awarded Points or Non-Points Recognition, as applicable, when a mortgage referral, eligible according to these Terms and Conditions, results in the registration of a 1st ranking residential mortgage or RBC Homeline Plan mortgage naming you as mortgagee, and the approved principal amount of the mortgage has been fully advanced.

If I am a Points Member, the points awarded for each mortgage referral that has been fully advanced and processed will be displayed in my RBC Referral Awards Account and my RBC Rewards Account. However, I will only be able to redeem the points through my RBC Rewards Account. If I have more than one mortgage referral fully advanced and processed in one bi-weekly period, the points earned for all those mortgage referrals will be displayed in my RBC Rewards Account as one record summarizing the number of points earned for each mortgage referral fully advanced in that bi-weekly period.

If I am a Points Member, I earn Points on referrals as follows:

Levels Number of Funded Referral Points Earned per Referral
Elite Partner 11+ 20,000
VIP Partner 5 – 10 16,000
Key Partner 0 – 4 10,000

 

In order to determine what Level I am in the Program, you will calculate the total number of funded referrals processed in the previous 12 months from any given month. For example, my Level in the Program for September 2020 would be determined based on all funded referrals that have been processed between September 2019 and August 2020.

I will be at the Key Partner Level if the total number of funded referrals processed in the previous 12 months for any given month is less than five. If I’m at this Level, I will earn 10,000 Points per funded referral.

I will be at the VIP Partner Level if the total number of funded referrals processed in the previous 12 months for any given month reach five funded referrals. From that point forward I will earn 16,000 Points per funded referral.

I will be at the Elite Partner Level if the total number of funded referrals processed in the previous 12 months for any given month reach eleven funded referrals. From that point forward I will earn 20,000 Points per funded referral.

I will move down from an Elite Partner Level to a VIP Partner Level if the total of funded referrals processed in the previous 12 months for any given month is less than eleven funded referrals. From that point forward I will earn 16,000 Points per funded referral.

I will move down from a VIP Partner Level to a Key Partner Level if the total of funded referrals processed in the previous 12 months for any given month is less than five funded referrals. From that point forward I will earn 10,000 Points per funded referral.

If I am a Non-Points Member, all funded referrals processed will be tracked as a valued partner of RBC.

7. Verification: You will include my Points or Non-Points Recognition activity, as applicable, on my RBC Referral Awards Account Dashboard which will be available to view on the Program webpage at https://referralawards.rbc.com. My earned Points or received Non-Points Recognition will be updated on a bi-weekly basis. I am responsible for notifying you of any change of address. It is my responsibility to track Points. In order to track Points, I can login to my password protected RBC Referral Award Account at https://referralawards.rbc.com to review my RBC Referral Awards Account Dashboard.

I must notify you in writing of any errors, omissions, or objections to the activity on my RBC Referral Awards Account Dashboard, within ninety (90) days from the date indicated as such on my RBC Referral Awards Account Dashboard. If I do not notify you as required, you are entitled to treat status of my RBC Referral Awards Account Dashboard as complete, correct and binding on me and you will be released from all claims by me in respect of those entries. You have the right to audit all mortgage transactions to validate the information submitted. You reserve the right to disallow Points or Non-Points Recognition that were awarded in error and to disqualify any Eligible Participant if any form of misrepresentation has occurred. Any adjustments to Points or Non-Points Recognition arising as a result of an audit can be completed up to one (1) year from activity date indicated in my RBC Referral Awards Account Dashboard.

8. Redemption of Points earned through the RBC Referral Awards Program:

This Section 8 is applicable to Points Members only. For complete information on the terms and conditions applicable to my RBC Rewards Account and the Points issued under this Program, including how to redeem my Points, I will refer to the RBC Rewards T&Cs which can be found at www.rbcrewards.com/#!/terms-and-conditions.

9. Limit of Your Responsibility: In no event will you be liable or responsible for, and I and my heirs, executors, liquidators, administrators and assigns release you and each of your and their respective affiliates, subsidiaries, officers, directors, employees and agents from all claims in respect of any loss or damage suffered by me or others howsoever arising, including but not limited to claims in respect of loss or damage suffered by me or others that is caused by:

(a) failure by you to provide me with Points awarded information;

(b) suspension or termination of the Program for any reason;

(c) suspension or termination of my membership in the Program, the closing of my RBC Referral Awards Account; or

(d) failure by us to send you any communication as set out in these Terms and Conditions.

If I’m a Points Member, the limitation of liability as set out in the RBC Rewards T&Cs applies to the Eligible Participants’ RBC Rewards Account and Points awarded pursuant to this Program.

10. Death/Divorce: Upon the death of an Eligible Participant who has been awarded Points or received Non-Points Recognition under the Program, the Eligible Participant's membership in the Program will terminate and the RBC Referral Awards Account will be closed. All Non-Points Recognition will automatically be invalidated. Points recognition will follow the terms and conditions related to “Death, Divorce, and closure of the Card/Account” of the RBC Rewards T&Cs.

11. Collection and Use of Information: By providing information to you and enrolling in the Program, I request that you communicate with me using the contact information that I provide, including my email address. You may act on my communication preferences recorded in the Program website. I also permit you to collect the information submitted by me and other information generated in the course of the Program, and to use and share it with other RBC® companies, service providers, and participating merchants for the purposes of administering the Program and fulfilling redemption requests under the Program and as required or permitted by law. You and these other companies may communicate with me through various channels, including telephone, computer or mail, using the contact information I have provided. You may also use this information and share it with RBC companies (i) to manage your risks and operations and those of RBC companies, (ii) for internal purposes, including statistical and other analysis and the creation of new or amended programs, (iii) for marketing purposes, including the provision to me of offers or contests and (iv) to comply with valid requests for information about me from regulators, government agencies, public bodies or other entities who have a right to issue such requests. For additional information, I may view your Privacy Policy at http://www.rbc.com/privacysecurity/.

12. Waiver: Any waiver by you of the strict observance, performance or compliance by me of any term, condition or agreement contained herein and any extension of time or other indulgence granted, either expressly or by course of conduct, by you, shall not alter, affect or prejudice any of your other rights or remedies and shall be effective only in the specific instance and for the purpose for which it was given and shall be deemed not to be a waiver of any of your rights and remedies hereunder as a result of any other breach hereunder. No delay or omission by you in exercising any right or remedy hereunder shall operate as a waiver thereof or of any other right or remedy.

13. Tax: Points awarded under the Program for mortgage referrals are considered taxable income. I understand that you will issue tax slips that report the value of such taxable income for applicable taxation years during which Points are awarded. Eligible Participants must consult with their personal tax advisor(s) regarding tax implications and are responsible for reporting this information for tax purposes. Any personal federal and/or provincial tax liability arising from the award of Points is my responsibility.

14. Changes to Program: You may change the Program and these Terms and Conditions, in whole or in part, from time to time. Program changes may include, but are not limited to, changes to:

  1. the eligibility criteria to participate in the Program;
  2. the rate or formula upon which Points are earned;
  3. the rules relating to the suspension or termination of the Program;
  4. the rules relating to errors in the allocation of Points and the handling of complaints; and
  5. the provisions related to the modification of all or any of these Terms and Conditions.

You may also change the Program and these Terms and Conditions to add features or attributes to the Program from time to time, which may include other benefits or forms of rewards, incentives, tools, or opportunities that may be incorporated into the Program.

You will notify me of any changes by posting notice of the changes on the Program web site at referralawards.rbc.com and/or by providing notification to you by email that I may designate at referralawards.rbc.com. I agree to check the Program web site regularly to obtain the latest version of the Terms and Conditions. My continued use of the Program means that I agree to accept Terms and Conditions as amended. If I do not agree to any modification I will notify you immediately that I am withdrawing from the Program.

15. Termination: You may suspend or terminate the Program at any time upon ninety (90) days’ notice to me. Should events beyond your control, such as strikes, acts of God, civil disturbance or war materially affect your ability to perform, the Program may be suspended or terminated and my Non-Points Recognition may be forfeited without notice to me. Further, you may, without notice, suspend or terminate my membership in the Program, and Non-Points Recognition will be forfeited, upon fraud or abuse by me relating to the Program, misrepresentation of information to you, failure by me to follow these Terms and Conditions. If I withdraw from the Program, my Non-Points Recognition will be automatically forfeited. Termination or suspension of the RBC Rewards Program, my Card/Credit Card Account and my participation in the RBC Rewards Program is governed by the RBC Rewards T&Cs.

16. Communications: You may send all notices to me by posting them on your Program web site at https://referralawards.rbc.com or by ordinary mail or email, directed to my address last appearing in your records. I must tell you about any changes in my address. I will send all notices to you at: referralawards@rbc.com

If I have questions on my RBC Rewards Account or on how to redeem my Rewards points I will reach to the Customer Service indicated on the RBC Rewards T&Cs.

17. Interpretation: All questions or disputes regarding the Program and the interpretation of these Terms and Conditions will be resolved by you in your sole discretion.

18. Governing Law: This agreement will be interpreted in accordance with the law applicable in the province in which I reside.

19. Severance: If any one or more of the provisions of this Agreement shall be or become invalid, illegal or unenforceable under any applicable law, the validity, legality or unenforceability of the remaining provisions shall not in any way be affected or impaired.