IV. Credit Approval & Security Deposit Policy
1. Credit Approval
Provision of the Services is conditional upon Execulink Telecom being satisfied with the results of an investigation of the Customer's credit worthiness and being satisfied with the results of such credit checks. The Customer's acceptance of the Services signifies the Customer's approval, authorization and acceptance of Execulink Telecom's initial and continuing credit review and approval. By execution of the Agreement, a subscription, a registration, an acknowledgement or a work order form in paper, online via the Internet or other electronic means, the Customer expressly authorizes Execulink Telecom and those acting on its behalf, from time to time, to the release and retention of any and all information necessary to investigate and complete a credit review to establish creditworthiness and the right to make current and ongoing inquiries about the Customer which are necessary to establish and maintain good credit with Execulink Telecom; and to the receipt and exchange of information about the Customer with credit or consumer reporting agencies. The Customer authorizes Execulink Telecom and credit and reporting agencies to release; share or exchange reports about the Customer to Execulink Telecom for the purpose of establishing this credit. Customer credit information will not be made public to any party other than the Customer and credit reporting agencies.
2. Criteria for Security Deposit Requirement
Execulink Telecom reserves the right to require a security deposit equal to a minimum of three months of anticipated future charges prior to the activation / continuation of any Services in circumstances where there is an abnormal risk of loss. For example, where the Customer has incurred a significant amount of long distance or other usage-based charges or, in situations of suspected fraud; or in connection with the credit criteria as set out in the Credit Approval and Security Deposit Policy. Determining abnormal risk of loss, shall be at the sole discretion of Execulink Telecom.
3. Refund of Security Deposit
Any deposit received will be credited to a Customer's account after at least 12 consecutive months in good standing on all Service accounts. The Customer will not earn any interest on any deposits held by Execulink Telecom (unless directed by Canadian Radio-television and Telecommunications Commission (CRTC). If the Customer's Service is cancelled, the deposit will be applied against the outstanding balance on the Customer's account and any remaining balance will be refunded.
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