All fees are subject to change by CIBC.
1 The setup fee is payable when the business signs the credit agreement. The business agrees to pay the setup fee or any other fees stated in the credit agreement or otherwise advised by us.
2 The business agrees to pay the renewal fee. You're charged the renewal fee not more than once every 12 months from the offer effective date.
3 The amendment fee is payable when the business signs an amendment to the credit agreement. The business agrees to pay the amendment fee or any other fees stated in the credit agreement or otherwise advised by us.
4 If the monthly statement we send the Business shows a negative balance at calendar month end, the Business agrees to make a deposit to its Line of Credit within 30 days of the calendar month end. The minimum deposit(s) required is/are:
i) the total for the calendar month of all
- interest, fees, and service charges, and
- required payments (including Scheduled Payments) on any other Credit charged to the Business’ Line of Credit or
ii) any negative balance at calendar month end
whichever is less (or such other amount advised by CIBC in its sole discretion)
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