The Code of Conduct for the
Credit and Debit Card Industry seeks to promote transparency and
fairness for merchants and consumers.
The Code of Conduct for the Credit and Debit Card Industry which
came into effect on August 16, 2010 aims to
increase transparency and fairness for both merchants and consumers
who use credit and debit cards. Applicable to credit and debit
systems and their participants, payment networks that choose to
adopt the Code will be subject to monitoring by the Financial
Consumer Agency of Canada to ensure compliance.
The policies put into place by the Code will give merchants more
choice as well as pricing flexibility. For example, payment
networks must provide extended notification when they increase or
introduce new fees. Merchants will also be able to cancel their
contracts without penalty if they disagree with the fee increases.
Some policies will directly benefit consumers such as requiring
payment card networks to separate credit and debit functions so
that they cannot co-reside on the same card. This will help to
minimize consumer confusion. Overall, the Code puts into place
mechanisms which are targeted at ensuring maximum access to
information for all parties involved in the credit and debit card
While most sections of the Code came into effect immediately,
payment networks will have until February 17, 2011 to implement
certain disclosure requirements and until May 17, 2011 to re-issue
cards (such as multiple access debit cards) which contravene the
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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Software license agreements generally require the customer to pay fees for the software license and related services, which fees are usually based upon the duration of the license and the manner in which the customer is allowed to use the software, together with applicable taxes and withholdings.
In less than nine months, on July 1, 2017, persons affected by a contravention of Canada's anti-spam legislation will be able to invoke a private right of action to sue for compensation and potentially substantial statutory damages.
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