RETURNED CHEQUE POLICY. FOR REVIEW ONLY An administration fee of Two Hundred and Fifty ($250.00) Dollars plus HST shall be charged to the Purchaser for the first cheque delivered to the Vendor or its Solicitor and not accepted by their bank for any reason. For each subsequent cheque delivered to the Vendor or its Solicitor and not accepted by their bank for any reason, the Purchaser shall pay an administration fee equal to the administration fee paid for the prior cheque delivered by the Purchaser to the Vendor or its Solicitor and not accepted by their bank for any reason, plus One Hundred ($100.00) Dollars. For example: • for the first cheque which is not accepted for payment, the administration fee is $250.00; • for the second cheque which is not accepted for payment, the administration fee is $350.00; • for the third cheque which is not accepted for payment, the administration fee is $450.00; and • for the fourth cheque which is not accepted for payment, the administration fee is $550.00. HST is to be paid on each and every administration fee. Note: all post-dated cheques must be submitted within five days of the signing of this Agreement, failing which the Purchaser shall be in default of this Agreement, which will allow the Vendor to immediately terminate this Agreement.
