Terms of Service
Nesto is provided by Nesto Inc, Ontario Mortgage Brokerage licence number 13044
Version 1.0 posted and effective as of 2018-10-01
These terms of service (or “Terms” for short) are a legal contract between you and Nesto Inc. (Nesto Inc. will be referred to using “we”, “us”, and “our”). These terms govern your installation and use of the Nesto mobile application (“App”), as well as your access to and use of Nesto’s website (“Site”). Together, the App, Site, and any services rendered or made available through the App or Site will be referred to as the “Services”.
Please read this document carefully, since it affects your legal rights (including limitations of liability and disclaimers of warranty). By clicking “I Agree” at the end of these terms, you will enter into a binding legal contract. If you do not agree with these terms, or if you lack the capacity or authority to agree to these terms, do not install the App, browse the Site, or otherwise access or use the Services.
- Changes to these Terms
We may amend any part of these Terms by adding, deleting, or varying their content. These amendments may be made from time-to-time in our discretion.
We will provide you with notice of the proposed amendment by posting an amended version of these Terms with a new version number, and a pop-up window directing you to the new version. We will include a link to the previous version of the terms beneath the new version number. The amendments will take effect 30 days after the date on which the amended version is posted. Prior to that date, the previous version of the Terms will continue to apply.
If you disagree with any amendments, you may terminate these Terms by uninstalling the App and ceasing to use the Services at any time within the 30-day notice period. If the amendment increases your obligations under these Terms, or decreases our obligations under these Terms, then you can also cancel in the 30 days after the amendments take effect. There will be no cost or penalty for doing so. If you do not uninstall the App and cease using the Services during that time, then by your continued use, you are considered to have accepted the proposed amendments. Additionally, if you reinstall the App or begin using the Services again, you are considered to have accepted the amendments then in effect.
The termination of these Terms pursuant to the previous paragraph will not affect any contracts that you have concluded with third-party financial institutions, nor will it affect any other contract you have concluded with Nesto.
- Nesto’s Role in Providing Services and in Related Transactions
To get the most out of the Services, it is important to understand our role in providing the Services.
When we provide information about mortgages, including approval criteria and interest rates, we are an information organizer and aggregator. We do not directly generate any of the information you see on the App or Site, and instead the information is provided to us by third parties (generally financial institutions). This information may be inaccurate or incomplete through no fault of ours (for example, because the financial institution has changed its interest rate but has not yet told us about the change). When this happens, your ability to use the App or Services may be compromised through no fault of ours, and we cannot accept any responsibility for any problems or damages which might occur.
If you decide to conclude a mortgage or other financial product or service through the App or Site, you will be dealing with third-party financial institutions. We do not ourselves offer mortgages or other financial products and services. Your conclusion of a mortgage or other transaction is not governed by these Terms and will be the subject of a separate contract with the financial institution. It may also be the subject of an additional contract with us. For additional information and legal rules related to the conclusion of mortgages or the purchases of goods and services which you located through the App or Site, please see section 3 below.
- Purchase of Financial Products and Services Through the App
The Services are brokerage services, which means that we, Nesto, do not offer any mortgages ourselves. Instead, we act as a mortgage broker. This means that we help you to find mortgages offered by third parties, to select a mortgage that you qualify for, and then we put you in touch with the third-party financial institution which offers that mortgage so that you can sign a contract with them. We also provide advice and facilitation services.
In our role as a broker, we are helping both sides to the transaction. Just as we provide you with services and information, we also provide services and information to the financial institutions. Our role is not to favour the interests of either side, but to help both sides reach a win-win outcome.
The final decision about whether your qualify for a given mortgage will be made by the third-party financial institution, and we have no control over this decision.
Your mortgage (and any other financial products and services you purchase) will be subject to a separate contract with the third party, rather than these Terms. We are not a party to your contract with the third-party financial institutions. As such, we cannot accept any responsibility for problems arising from or related to these third-party contracts nor any third-party services (including websites or apps) which are used in the process.
Additionally, before we can forward your offer to a third-party financial institution, you will be required to sign a contract with us, Nesto, that confirms your serious intent to conclude a mortgage with the third party institution, and which may contain other terms and conditions. That contract is between you and Nesto alone, and does not involve the financial institution.
You will be required to create an account in order to use the Services. You must use current and accurate information to create your account. You are limited to a single account, and cannot create multiple accounts, either under your own name or the names of others.
Your account is intended for your use only, and you must not share your log-in credentials with others, nor allow others to access your account.
Information between accounts is not shared, even if the accounts are both involved in the same transaction. For example, if you and your spouse wish to co-purchase a home together, you will each need to upload documents to your individual accounts, since the documents in one account are not accessible to another.
- Use of the App and Site
We do not sell the App or Site. Instead, we give you permission to download a single copy of the App or Site onto each one of your devices. Our role is to make the App/Site and App/Site-delivered Services reasonably available, and to provide mortgage brokerage services. As explained in the previous section, we cannot control – nor accept any responsibility for – any other issues.
We may update the App from time to time in order to improve the App and/or the Services. If you delay or refuse updates to the App, this may compromise or completely prevent us from delivering the Services. If you have turned on auto-updates on your device, this will cause updates to the App to install automatically. By turning on auto-update settings, you expressly consent to the installation of updates to the App.
- Acceptable Use Policy
We strive for complete transparency in our dealings with you. We expect the same level of respect in return. This principle is embodied in our acceptable use policy for the Services.
When you upload documents or other information as part of the Services, the following acceptable use policy applies: (i) the copy uploaded must be a true and accurate copy of the original document, (ii) the original document from which the copy/scan was made must be authentic and valid; (iii) the documents must not create a misleading impression of your financial and other circumstances, whether by omission or otherwise; (iv) you must not knowingly upload inaccurate, outdated, or incomplete documents; (v) you must not knowingly upload documents which contain illegal or infringing content, or which you do not have the right to use and copy.
When you use the Services, the following acceptable use policy applies. You must not: (i) decompile, disassemble, reverse engineer, investigate, or otherwise access any non-UI portion of the App or Site; (ii) circumvent any limitations we place on your use of the Services; (iii) use or display the App or Site in such a way that this allows derivation of information about the Services that was not intended to be made available to users; (iv) circumvent any security features or technological protection measures built into the App; (v) automate access to the Services, including, without limitation, through the use of APIs, bots, scrapers or other similar devices; (vi) attempt to install the App or access the Services after having been banned by us.
When interacting with brokers or other employees (via the Services or otherwise) you must be maintain the same level of honesty and candour. You must not knowingly or recklessly mislead them about relevant facts, and must proactively provide all relevant information of which you are aware.
- Disclaimer of Warranties
NOT APPLICABLE TO QUEBEC CONSUMERS
WE HEREBY EXCLUDE ALL REPRESENTATIONS, CONDITIONS AND WARRANTIES REGARDING THE APP, SITE AND THE SERVICES, WHETHER EXPRESS, IMPLIED, STATUTORY OR OTHERWISE, AND INCLUDING ANY REPRESENTATION, CONDITION OR WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
NOTABLY, AND WITHOUT LIMITING THE GENERALITY OF THE PRECEDING PARAGRAPH, WE DO NOT GUARANTEE ANY PARTICULAR LEVEL OF UP-TIME OR AVAILABILITY OF THE SERVICES. THE SERVICES MAY BECOME UNAVAILABLE FOR MANY REASONS, INCLUDING SCHEDULED AND UNSCHEDULED MAINTENANCE BY US.
- Limitation of Liability
NOT APPLICABLE TO QUEBEC CONSUMERS
WITH THE EXCEPTION OF INTENTIONAL WRONGDOING OR GROSS NEGLIGENCE, WE SHALL NOT BE LIABLE FOR ANY DAMAGES CAUSED BY OR RELATED THE SERVICES, OUR ACTIONS OR INACTIONS, OR THESE TERMS (INCLUDING THE BREACH OF THESE TERMS). THIS LIMITATION OF LIABILITY SHALL APPLY TO ALL DAMAGES HOWEVER CAUSED, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE), PROPERTY, PRIVACY, STATUTE, OR OTHERWISE.
NOTABLY, AND WITHOUT LIMITING THE GENERALITY OF THE PRECEDING PARAGRAPH, WE SHALL NOT BE LIABLE FOR ANY LOST TIME, LOSS OF ENJOYMENT, LOSS OF DATA, LOSS OF REVENUE, LOSS OF PROFITS, LOSS OF BUSINESS OPPORTUNITIES, OR LEGAL FEES AND LITIGATION EXPENSES, HOWSOEVER CAUSED.
If you use the Services for commercial or non-consumer purposes, you agree to indemnify and hold harmless us and our officers, directors, employees, agents, and affiliated companies against any claims, suits, proceedings, disputes, demands, liabilities, damages, losses, costs and expenses, including reasonable legal and accounting fees caused by your use or misuse of the Services, or by your breach of these Terms.
- Termination without Cause
We may terminate these Terms without cause and without prior notice if we choose to discontinue the Services in whole or in part. We may also terminate these Terms if you violate the acceptable use policy in section 6 or otherwise materially breach these Terms.
You may terminate these Terms without cause at any time by uninstalling the App and ceasing to use the Services. If you reinstall the App or begin using the Services again, these Terms will apply.
Sections 2, 6, 3, 7, 8, 9 (if applicable to you), 10(b), and 11 will survive the termination of these Terms regardless of reason, and shall continue to bind both you and us.
Additionally, the termination of these Terms by either of us will not affect any contracts that you have concluded with third-party financial institutions, nor will it affect any other contract you have concluded with us.
- Governing law
NOT APPLICABLE TO QUEBEC CONSUMERS
These Terms are governed exclusively by the domestic laws of Ontario and the federal laws of Canada applicable therein. The International Sale of Goods Act, RSO 1990, c I.10 or any similar legislation, does not apply to these Terms.
- Resolution of Complaints
We are committed to customer satisfaction, so if you have a problem or dispute, we will try to resolve your concerns. But if we are unsuccessful in doing so within 60 days of your complaint, either of us may pursue dispute resolution as explained in the following two sections.
- Dispute Resolution
NOT APPLICABLE TO QUEBEC CONSUMERS
All litigation arising from or related to these Terms or the Services shall be submitted to the exclusive jurisdiction of the courts of Ontario sitting in Toronto.
- Jury Trial Waiver
All disputes (whether or not subject to arbitration) arising from or relating to these Terms or the Services shall be determined by a judge-alone trial. You and us irrevocably waive any right to a trial by jury which might exist.
You may not assign any of your rights arising under these Terms without our written consent.
- Status of the Parties
These Terms do not create any relationship of employment, partnership, agency/mandate, trust, franchise, or joint venture. As explained above, we are merely a broker. We do not ourselves offer mortgage financing, nor do we act as agent for either you or the financial institution that you may sign mortgages with. You are not directly contracting with us to provide mortgages or financing.
These Terms can only be amended or suspended by following the procedure set out in section 1, above. No other amendment or suspension is valid, nor can any purported waiver be set up against us unless the waiver follows the procedure for an amendment set out in section 1.
- Entire Agreement
NOT APPLICABLE TO QUEBEC CONSUMERS
These Terms (as amended from time to time) constitute the entire agreement between you and us regarding the Services. These Terms (and any amendments) replace and supersede any previous or existing agreement, contract, understanding, or representation regarding the Services.
For clarity, despite this Entire Agreement section, your purchases of financial products or services will be subject to separate agreements with us and with third parties.
You and us have agreed that these Terms and all related documents be drawn up in the English language. Les parties aux présentes reconnaissent avoir convenu que la présente entente et les documents connexes soient rédigés en langue Anglais.
General inquiries may be sent to the following coordinates:
300-481 Ave Viger O
Montreal, QC H2Z 1G6