Last Updated: Jan 1, 2025
These website terms and conditions of use for openfund.ca constitute a legal agreement that is entered into by and between you (the “User”, “you” or “your”) and Openfund Inc. ("Openfund", the "Company," "we," "us," "our"). The following terms and conditions, together with any documents and/or additional terms they expressly incorporate by reference (collectively, these "Terms"), govern your access to and use of, including any content, functionality, and services offered on or through openfund.ca (the "Website") and any of its related applications, products, and services (collectively the “Services”).
PLEASE READ THESE TERMS CAREFULLY BEFORE ACCESSING THE WEBSITE OR USING THE SERVICES, AS THEY CONTAIN IMPORTANT INFORMATION REGARDING YOUR LEGAL RIGHTS, REMEDIES, AND OBLIGATIONS, INCLUDING, BUT NOT LIMITED TO, VARIOUS LIMITATIONS, EXCLUSIONS, AND INDEMNITIES.
By accessing the Website and using the Services, you acknowledge that you have read, understood, and agree to be bound by these Terms. If you are entering into these Terms on behalf of a business or other legal entity, you represent that you have the authority to bind such entity to these Terms, in which case the terms "User", "you" or "your" shall refer to such entity. If you do not have such authority, or if you do not agree with these Terms in full, or if any representation made by you is not true, you must not accept these Terms and you may not use and must immediately cease accessing the Website and the Services.
We reserve the right in our sole discretion, and without notice to you, to revise and update these Terms from time to time. Any and all such modifications are effective immediately upon posting and apply to all access to and continued use of the Website. The date indicated above indicates when these Terms were last updated. If any modification is unacceptable to you, you may terminate your agreement to these Terms by ceasing accessing our Website or using the Services. You agree to periodically review the Terms in order to be aware of any such modifications and your continued use shall constitute your consent and acceptance of these changes.
The information and material on this Website may be changed, withdrawn, or terminated at any time in our sole discretion without notice. We will not be liable if, for any reason, all or any part of the Website is restricted to users or unavailable at any time or for any period.
Your access to and use of the Website is subject exclusively to these Terms. You will not use the Website for any purpose that is unlawful or prohibited by these Terms. By using the Website, you are fully accepting the terms, conditions, limitations of liability, and disclaimers contained in these Terms.
You must be at least 18 years of age, or the age of majority in your jurisdiction, to access and use the Services. By using the Services and by agreeing to these Terms, you represent and warrant that you are at least 18 years of age or the age of majority in your jurisdiction. Any registration, access to, or use of the Services by anyone under such age is unauthorized, unlicensed, and in violation of these Terms. We may, in our sole discretion, terminate your Account (as defined below) and prohibit you from accessing or using the Services (or any portion thereof), with or without notice, if we have any reason to believe that you do not meet the eligibility requirements.
You acknowledge that you have read our privacy policy, as it may be updated from time to time, located at https://openfund.ca/legal/privacy-policy (the “Privacy Policy”), and consent to the collection, use, and disclosure of your personal information (whether previously collected or to be collected) for the purposes identified in these Terms or in our Privacy Policy, which is incorporated into these Terms by reference and forms an integral part hereof.
You further acknowledge and agree that, in connection with the Services offered, Openfund may share transactional information and other applicable data (collectively “Transactional Data”) with other partner and government agencies, including but not limited to the Financial Services Regulatory Authority of Ontario (“FSRA”). Disclosure of Transactional Data is intended to be informational in nature. All disclosure of Transactional Data shall consist of anonymous and/or aggregated data and shall not consist of a user’s personal information unless otherwise permitted or required by law.
The Services may be used in different ways by different categories of users. Through your use of the Services, you will be categorized as one or more of the following:
“Users” means Mortgage Brokers, Mortgage Agents, Investors, and Borrowers collectively, and “User” means one of them as the context requires.
All Users represent and warrant that they are fully licensed, duly authorized, and fully compliant with all applicable laws with respect to the use of the Services in the manner intended based on their respective User category.
If you elect to have any business dealings with any User, you acknowledge and agree that such dealings are solely between you and such User and we will not be a party to, or have any responsibility or liability related thereto. You acknowledge and agree that the provision of the Services will not be construed as an endorsement by us of any such business dealings with any User.
Your use of the Services may require you to create an account on the Website (an “Account”). YOU ARE SOLELY RESPONSIBLE FOR YOUR ACCOUNT, including maintaining the security and confidentiality of your Account and all passwords related to your Account. You are fully responsible for all activities that occur under your Account, including the activities of any person who gains access to your Account, with or without your permission (which for each User will include all employees or other authorized representatives using the Account, as context may require), and any other actions taken in connection with it. We may, but have no obligation to, monitor and review new Accounts before you may sign in and start using the Services.
When you create an Account, you will be asked to provide certain information. You may further be required to periodically provide additional information from time to time depending on the type of user you are, and the User Content (as defined below) needed to be provided. You agree, at all times, to provide true, current, accurate, and complete information as requested by us from time to time and you agree to promptly notify us of any changes to this information as required to keep such information held by us current, complete, and accurate. You further agree, represent, and warrant to us that you have received all necessary consents and complied with all applicable laws with respect to information you provide to us which belongs to third parties, including personal information of such third parties. Providing false contact and other relevant information of any kind may result in the termination of your Account. All personal information is subject to the Privacy Policy.
WE WILL NOT BE LIABLE FOR ANY ACTS OR OMISSIONS BY YOU, INCLUDING ANY DAMAGES OF ANY KIND INCURRED AS A RESULT OF SUCH ACTS OR OMISSIONS.
You must immediately notify us of any unauthorized uses of your account or any other breaches of security. You agree to provide assistance to us, as requested, to stop or remedy any breach of security related to your Account.
You may cancel your Account at any time by emailing Openfund at support@openfund.ca. We will email you confirmation of cancellation. No cancellation is valid until you have received this email confirmation of cancellation.
We may suspend, disable, or delete your Account (or any part thereof) if we determine that you have violated any provision of these Terms or that your conduct or content would tend to damage our reputation and goodwill. If we delete your Account for the foregoing reasons, you may not, directly or indirectly, re-register for our Services. We may block your email address and Internet protocol address to prevent further registration.
Termination of your access to the Services may result in the deletion of all of your User Content (as defined below and subject to legal and regulatory retention periods), and we will not be obligated to provide any backup or retrieval of your User Content. You acknowledge and agree that we may terminate the Services, your access to them, or any portion thereof, in our sole discretion without any liability whatsoever to you or any third party. Any termination by us shall be in addition to any and all other rights and remedies that we may have pursuant to these Terms and applicable law.
By using Openfund's Services, you agree to pay all applicable fees as specified. Payment must be made using the payment methods provided by Openfund. You are responsible for providing accurate billing information and for promptly updating any changes. All payments are non-refundable unless otherwise specified. Openfund reserves the right to suspend or terminate your access to the Services for non-payment or fraudulent activity.
In these Terms, “Content” means all materials and content of any type including, but not limited to, designs, editorial, text, graphics, audiovisual materials, multimedia elements, photographs, videos, reports, documents, information, data, and any other work made available through the Services. This also includes personal, work, and business information of Borrowers; personal, work, and business information of all other user types; financial information of all user types; pictures, videos, appraisals, and other documents related to all properties listed on our site; and information on how users interact with our product, including the time spent on it and the types of deals they accept, fund, or reject.
The Services permit you to submit, upload, provide, post, input, transmit, copy, make available, distribute, or otherwise transfer to us, or any third party using the Services, Content (collectively, your “User Content”), and we do not claim ownership over any User Content. By providing any User Content to us or any third party using the Services, whether or not through use of, or associated with, your account:
You acknowledge and agree that we may retain a copy or copies of your User Content for archival or compliance purposes or to otherwise provide the Services to you or others, including by way of aggregation or analytics which we may provide to you or others from time to time, subject always to your license to us set out above, even if you delete your account to which your User Content is connected. If permitted by the functionality of the Services, you may delete your User Content.
You shall have sole responsibility for the accuracy, quality, integrity, legality, reliability, appropriateness, and intellectual property ownership or right to use of all submitted User Content. We may, but have no obligation to, monitor and review the User Content submitted or created by you while using our Services. Without limiting any of those representations or warranties, we have the right, though not the obligation, to, in our own sole discretion, refuse or remove any User Content that, in our reasonable opinion, violates any of our policies or is in any way harmful or objectionable.
Openfund may use third-party services to enhance the functionality and experience of our Services. Specifically, we use Google for Maps and address matching to provide accurate location and address-related information, and Twilio for sending emails to communicate with users. There may be other third-party services not listed here that are also used to support our Services. By using our Services, you agree to the collection and use of your information by these third-party providers in accordance with their respective privacy policies. Openfund is not responsible for the privacy practices or content of third-party services, and we encourage you to review their policies to understand how they handle your information.
If you would like to contact us to understand more about these Terms or wish to contact us concerning any matter relating to it, you may send an email to support@openfund.ca.