Contents of payday loan agreements
 18. (1) For the purposes of subsection 29 (1) of the Act, a payday loan agreement shall include the following: 1.  The following statements and table which are in the language of the agreement, which are set out on the first page of the agreement and which, subject to subsection (1.1), do not include anything else: Details of Payday Loan Agreement Amount Borrowed   C 

  Term of the Agreement in Days   D 

  Total Cost of Borrowing   E 

  Maximum Allowable Cost per $100 Borrowed   F 

  Cost per $100 Borrowed   G 

  Equivalent Annual Percentage Rate   H 

  This loan is your third or subsequent one in 63 days and qualifies for an extended payment plan   I 

  Payment 1: Amount and Due Date   J 

  Payment 2: Amount and Due Date (if applicable)   K 

  Payment 3: Amount and Due Date (if applicable)   L 

  Default Interest Rate   M 

  Borrower’s Signature   N  where, C =  the advance, D =  the term of the agreement in days, E =  the cost of borrowing expressed as a total amount, F = whichever of the following applies, (a)  $21 per $100 borrowed if the parties entered into the agreement before January 1, 2017, (b)  $18 per $100 borrowed if the parties entered into the agreement on or after January 1, 2017 and before January 1, 2018, or (c)  $15 per $100 borrowed if the parties entered into the agreement on or after January 1, 2018, G =  the actual cost of borrowing expressed as an amount per $100 advanced under the agreement, H =  the cost of borrowing expressed as an annual percentage rate calculated in accordance with section 55 of Ontario Regulation 17/05 (General) made under the Consumer Protection Act, 2002, I =  Yes or No, as applicable, J =  either, (a)  the total amount and due date of all payments that the borrower is required to make in connection with the agreement if the borrower has not entered into a third or subsequent payday loan agreement with the same lender in a 63-day period, or (b)  the amount and due date of the first repayment instalment calculated in accordance with section 25.1 if the borrower has entered into a third or subsequent payday loan agreement with the same lender in a 63-day period, K =  either, (a)  zero if the borrower has not entered into a third or subsequent payday loan agreement with the same lender in a 63-day period, or (b)  the amount and due date of the second repayment instalment calculated in accordance with section 25.1 if the borrower has entered into a third or subsequent payday loan agreement with the same lender in a 63-day period, L =  either, (a)  zero if the borrower has not entered into a third or subsequent payday loan agreement with the same lender in a 63-day period or if there is no third repayment instalment calculated in accordance with section 25.1, or (b)  the amount and due date of the third repayment instalment calculated in accordance with section 25.1 if applicable, M =  the interest rate that the lender will charge the borrower on defaulted loans, expressed as an annual percentage rate calculated in accordance with section 55 of Ontario Regulation 17/05 (General) made under the Consumer Protection Act, 2002, and N =  the borrower’s signature. MAXIMUM Amount of loan Based on the information you provided to us, your net pay is P. The maximum amount we can lend you is Q, which is 50 per cent of your net pay. where, P =  the borrower’s net pay as defined in subsection 16.2 (1), and Q =  P ÷ 2. Dates of previous loans You previously entered into payday loans on R. where, R =  dates of all previous payday loans that the borrower entered into with the lender in the 63-day period before entering into the current payday loan agreement or, if no such loans were entered into in that period, “N/A”. 2.  The date of the agreement. 3.  The borrower’s signature and name and, if any, the borrower’s address and telephone number. 4.  The signature and legal name of the lender under the agreement. 5.  The name, if any, registered under the Business Names Act for the office from which the lender entered into the agreement, the address of that office, the telephone number of that office and information respecting other ways, if any, in which the borrower can contact the lender, such as facsimile number and e-mail address. 6.  If a loan broker assisted the borrower in obtaining the payday loan under the agreement, i.  the legal name of the loan broker, and ii.  the name, if any, registered under the Business Names Act for the office from which the loan broker assisted the borrower, the address of that office, the telephone number of that office and information respecting other ways, if any, in which the borrower can contact the loan broker, such as facsimile number and e-mail address. 7.  If the lender delivers or provides access to all or part of the advance to the borrower by way of a device, the following information about the device: i.  Information about where the borrower can access the terms and conditions governing the device, if the device is not a cheque. ii.  An indication of the restrictions or exclusions of use, if any, related to the device, if the device is not a cheque. iii.  Instructions on how to use the device, if the device is not a cheque. iv.  Revoked: O. Reg. 316/11, s. 4 (3). v.  A statement that there may be a transaction charge for using the device. vi.  Information about how the borrower can verify the amount of the balance on the device or accessible by the device, if the device is not a cheque. vii.  If the device is not a cheque, a statement that the borrower may request the lender or the loan broker that assisted the borrower in obtaining the payday loan to disclose the balance on the device or accessible by the device and that the licensee who receives the request shall make the disclosure at no charge to the borrower. viii.  The process for the borrower to obtain a replacement for the device and the amount, if any, that the borrower is required to pay for the replacement. ix.  If the device is not a cheque, whether or not the device that the borrower obtains from the lender can be used under a subsequent payday loan agreement that the borrower enters into with the lender. 8.  The methods by which the borrower may make payment to the lender. 9.  The statements set out in subsection (2) in the language of the agreement. 10.  A statement that the borrower is entitled to receive a copy of the agreement by requesting it at any time before the end of one year from the end of the term of the agreement from, i.  the lender, if no loan broker has assisted the borrower in obtaining the payday loan, or ii.  the loan broker who assisted the borrower in obtaining the payday loan. 11.  Information for contacting the Registrar, including an address, facsimile number and telephone number, as well as a toll free number, if any. 12.  The website address of the Ministry.  O. Reg. 98/09, s. 18 (1); O. Reg. 316/11, s. 4; O. Reg. 358/16, s. 3; O. Reg. 489/17, s. 5 (1). (1.1) If the borrower has entered into a third or subsequent payday loan agreement with the same lender in a 63-day period and is required to repay the amount owing under the agreement in more than three instalments under section 25.1, the table mentioned in paragraph 1 of subsection (1) shall include a row similar to the row for Payment 3 for each instalment after the third instalment. O. Reg. 489/17, s. 5 (2). (2) The statements mentioned in paragraph 9 of subsection (1) are the following: Attention This payday loan is intended to address short-term financial needs.  The cost of borrowing for this loan may be significantly higher than credit offered by other lenders. Your cancellation rights under the payday loans act, 2008 If you are provided with the loan and a copy of this agreement that complies with the Act when you enter into the agreement, you may cancel the agreement within two (2) business days of entering into it.  For remote payday loan agreements*, you may cancel the agreement within two (2) business days of entering into it if you are provided with the loan within one hour of entering into the agreement and you are provided with a copy of this agreement that complies with the Act when you enter into the agreement.  You do not have to give a reason for cancelling the agreement. If you are not provided with the loan or with a copy of this agreement that complies with the Act when you enter into the agreement, you may cancel the agreement at any time.  For remote payday loan agreements, you may cancel the agreement at any time if you are not provided with the loan within one hour of entering into the agreement or if you are not provided with a copy of this agreement that complies with the Act when you enter into the agreement.  You do not have to give a reason for cancelling the agreement. To cancel the agreement, you must provide your notice of cancellation, together with the amount you borrowed, to the business you dealt with to get your loan.  If you have made any payments under the loan, the lender must return those payments to you at the earliest reasonable opportunity. * A remote payday loan agreement is one in which the borrower is not present with the lender or the loan broker when the payday loan agreement is made (e.g. a loan made over the internet or by phone). Notwithstanding any language in the payday loan agreement, you may make partial prepayments at any time and if you are in an extended payment plan the lender must adjust your future scheduled repayments so that your future repayments are spread equally over the remaining term of the extended payment plan, unless you request otherwise when making the prepayment. You may terminate the extended payment plan at any time by paying the amount owing in full without any additional charge, fee or penalty. Refunds under the payday loans act, 2008 Under certain circumstances, you may demand a refund of a payment you made under a payday loan agreement within one year of having made that payment.  Either the licensee has received a payment to which it is not entitled or the licensee has engaged in prohibited conduct of such a serious nature that you are entitled to a refund of the cost of borrowing that you paid.  To obtain a refund you must give a notice demanding it to the business that you dealt with to get your payday loan.  Your notice must set out your demand for the refund and the reason for it, as well as your name and telephone number. Note that the business has two (2) business days within which to provide the refund to you. You may choose to collect your refund in person or have it mailed to you. Please contact the Consumer Protection Branch of the Ministry of Government and Consumer Services for more information on when you may be entitled to a refund and how to make your demand for a refund. You may contact the Consumer Protection Branch toll free at 1-800-889-9768. O. Reg. 98/09, s. 18 (2); O. Reg. 489/17, s. 5 (3, 4) (3) For the purposes of subsection 29 (1) of the Act, it is a prescribed requirement that a payday loan agreement be in at least 12 point font and that headings in the agreement be in at least 14 point font.  O. Reg. 98/09, s. 18 (3). (4) Before a borrower enters into a remote payday loan agreement, the lender shall ensure that the agreement is available and accessible in a manner that ensures that the borrower has accessed it and is able to retain and print it.  O. Reg. 98/09, s. 18 (4). (5) In a remote payday loan agreement, after complying with subsection (4) and before delivering the advance to the borrower, the lender shall ensure that the borrower has consented to entering into the agreement in a manner that allows the lender to prove that the borrower has so consented.  O. Reg. 98/09, s. 18 (5). (6) If a loan broker assisted the borrower in obtaining the payday loan, the loan broker shall facilitate compliance with subsections (4) and (5).  O. Reg. 98/09, s. 18 (6).