Terms of Service

Last Updated: November 3, 2026

1. Agreement Scope

This agreement covers how you use Saltic's banking services and digital platform.

These Terms of Service ("Terms") constitute a legally binding agreement between you ("Client," "you," or "your") and Saltic Inc. ("Saltic," "we," "us," or "our"), a federally regulated financial services company incorporated under the laws of Canada, with its registered office at 326 Hunter Street West, Hamilton, Ontario L8P 4A7. By opening an account, accessing our digital banking platform, or using any of our deposit, payment, credit, or treasury services (collectively, the "Services"), you accept these Terms in full.

These Terms are governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein. "Platform" refers to Saltic's online banking portal, mobile application, RESTful API endpoints, and any associated digital tools provided to Clients for account management, transaction initiation, and reporting. "Services" includes, without limitation, commercial operating accounts, treasury management, payment processing, working capital facilities, receivables-based financing, payroll disbursement, sub-account and virtual account structures, foreign exchange services, and API access.

These Terms supplement — but do not replace — any account-specific agreements, credit facility agreements, or service schedules executed between you and Saltic. In the event of a conflict between these Terms and a specific service agreement, the specific agreement prevails with respect to the subject matter it covers.

2. Client Obligations

You agree to provide accurate information and keep it current.

You represent and warrant that all information provided to Saltic during account opening and throughout the duration of your relationship is accurate, complete, and current. This includes, without limitation: articles of incorporation, beneficial ownership declarations, government-issued identification for all authorized signatories, business financial statements, and any documentation required under applicable Know Your Client (KYC) and Anti-Money Laundering (AML) regulations.

You must notify Saltic in writing within fifteen (15) business days of any material change to your business structure, including but not limited to: changes in beneficial ownership exceeding 10%, amendments to articles of incorporation, changes in directors or officers with signing authority, changes in business address, acquisition or disposition of subsidiaries, and any proceedings related to insolvency, bankruptcy, or receivership. Failure to provide timely notification may result in restrictions on account activity or, in material cases, account review under Clause 7.

Where you maintain multiple entities or subsidiaries with Saltic accounts, you are responsible for ensuring that each entity's KYC documentation remains current independently. Consolidated account structures do not relieve individual entities of their disclosure obligations.

3. Services Provided

We provide deposit, payment, and credit services subject to applicable regulations.

Saltic provides commercial and personal banking services authorized under applicable Canadian federal financial regulations. Our deposit accounts are structured for business clients and, where applicable, for personal banking clients who maintain an active business relationship with Saltic. Eligible deposits are insured by the Canada Deposit Insurance Corporation (CDIC) up to $100,000 per depositor, per insured category, subject to CDIC rules and eligibility criteria.

Saltic reserves the right to modify, suspend, or discontinue any Service, in whole or in part, upon thirty (30) days' prior written notice to affected Clients. Modifications may include changes to product features, digital platform functionality, processing capabilities, or service availability. Emergency modifications required by regulatory order, security events, or payment network mandates may be implemented with shorter notice, provided that Saltic communicates the change and the reason as promptly as practicable.

Our participation in Payments Canada's clearing and settlement systems, FINTRAC reporting frameworks, and applicable prudential requirements is maintained continuously. We comply with OSFI supervisory expectations applicable to our category of regulated financial institution. All Services are subject to the regulatory framework in effect at the time of delivery.

4. Security and Access

Your accounts are protected by the security measures you configure.

You are responsible for maintaining the confidentiality and security of all access credentials associated with your Saltic accounts, including but not limited to: login passwords, multi-factor authentication devices or codes, API keys, and authorized signatory designations. You must configure multi-factor authentication on all accounts as required during onboarding. Saltic will never request your full password via email, phone, or any other communication channel.

You are solely responsible for designating authorized signatories and for ensuring that signatory lists are current. Transactions initiated by an authorized signatory using valid credentials will be treated as authorized by you. You must notify Saltic immediately upon becoming aware of any unauthorized access, compromised credentials, or suspected fraudulent activity. Notification should be directed to (343) 348-7225 during business hours or via contact@salticservs.com at any time.

Saltic's liability for unauthorized transactions is limited as follows: where unauthorized access results from Saltic's failure to maintain its security infrastructure (AES-256 encryption at rest, TLS 1.3 in transit, SOC 2 Type II compliance standards), Saltic will bear full liability for direct losses. Where unauthorized access results from Client negligence — including but not limited to shared credentials, failure to enable required MFA, or failure to report compromised access within twenty-four (24) hours of discovery — Saltic's liability is limited to the extent that Saltic's own systems contributed to the breach.

5. Fees and Pricing

Fees are published and won't change without 30 days' notice.

Saltic's current fee schedule is published on our Rates & Fee Schedule page and is incorporated into these Terms by reference. Fees include, but are not limited to: monthly account maintenance fees, per-transaction charges exceeding included thresholds, wire transfer fees, payment processing fees, and facility-related charges. All fees are denominated in Canadian dollars unless explicitly stated otherwise.

Fees are billed monthly in arrears. Saltic applies earnings credit rate (ECR) calculations to eligible commercial deposit balances, with credits offset against monthly service charges as detailed in your account analysis statement. ECR rates are set by Saltic and may be adjusted monthly based on prevailing market conditions. Your account analysis statement, delivered monthly, itemizes every fee assessed and every credit applied.

Saltic will provide a minimum of thirty (30) days' written notice before implementing any fee increase or introducing a new fee applicable to your existing Services. Notice will be delivered via email to the primary contact address on file and, where applicable, through a notification on the digital banking platform. You may terminate the affected Service without penalty within the notice period if the fee change is unacceptable. Fee disputes must be raised in writing within sixty (60) days of the statement date. Saltic will investigate and respond within fifteen (15) business days.

6. Credit Facilities

Credit facilities are subject to separate agreements and underwriting.

Working capital facilities, receivables-based financing, commercial real estate loans, commercial vehicle financing, equipment leasing, and other credit products are subject to Saltic's underwriting criteria and are governed by separate facility agreements, general security agreements (GSAs), and any ancillary documents executed at the time of facility establishment. These Terms apply to credit facilities to the extent they are not superseded by facility-specific agreements.

Credit facilities are underwritten based on business fundamentals: receivables quality, contract backlog, cash conversion cycle, revenue consistency, and operating history. Personal guarantees are not required as default policy but may be requested on a case-by-case basis, particularly for businesses with fewer than two years of operating history or for facilities exceeding specified thresholds. The rationale for any personal guarantee requirement will be communicated in writing, and guarantees may be structured to phase out based on demonstrated business performance.

Default provisions, cure periods, and remedies are set forth in the applicable facility agreement. In general, Saltic provides a minimum fifteen (15) business day cure period for non-payment defaults and thirty (30) business days for covenant defaults, unless the default constitutes fraud, misrepresentation, or insolvency, in which case Saltic may exercise immediate remedies. Facility review and renewal cycles are conducted annually or as specified in the facility agreement. Saltic will provide at least sixty (60) days' notice of material changes to facility terms upon renewal.

7. Account Closure

You can close your account anytime. We can too, with cause.

You may close your account at any time by providing thirty (30) days' written notice to Saltic. Written notice may be delivered via email to contact@salticservs.com, through the digital banking platform, or by mail to our registered office. Upon receipt of your closure notice, Saltic will initiate the account wind-down process, including: settlement of outstanding transactions, final fee assessment, return of any remaining balance via EFT to a designated external account, and deactivation of access credentials and API keys.

Saltic may close your account with sixty (60) days' written notice for any lawful reason, including but not limited to: failure to maintain required KYC documentation, material breach of these Terms, regulatory direction, or a determination that continued service poses unacceptable compliance risk. In cases involving suspected fraud, money laundering, terrorist financing, or other criminal activity, Saltic may freeze or close your account immediately as required by law, and may be prohibited from providing you with advance notice or the specific reason for closure.

Account closure does not extinguish outstanding obligations under credit facility agreements. Any outstanding loan balances, accrued interest, and fees remain due and payable according to the terms of the applicable facility agreement. Final settlement statements will be provided within ten (10) business days of account closure.

8. Dispute Resolution

Disputes go through mediation before litigation.

In the event of a dispute arising out of or relating to these Terms or the Services provided by Saltic, the parties agree to first attempt resolution through direct negotiation between the Client's designated representative and Saltic's Client Relations team. If the dispute is not resolved within thirty (30) days of written notice, the parties agree to submit the dispute to confidential mediation administered by the ADR Institute of Ontario, with mediation to be conducted in Hamilton, Ontario.

If mediation does not resolve the dispute within sixty (60) days of the mediator's appointment, either party may commence litigation in the courts of the Province of Ontario, and you irrevocably submit to the exclusive jurisdiction of such courts. The limitation period for any claim arising under these Terms is two (2) years from the date the cause of action accrued, or such longer period as required by applicable law.

To the extent permitted by applicable law, you waive any right to commence or participate in any class action, class arbitration, or representative proceeding against Saltic. This waiver does not apply where class action waivers are unenforceable under the laws of Ontario or applicable federal law. Each party bears its own costs in mediation. Litigation costs are awarded at the court's discretion.

9. Limitation of Liability

Our liability is limited to direct damages up to the fees you've paid us.

To the maximum extent permitted by applicable law, Saltic's aggregate liability to you for any and all claims arising out of or relating to these Terms or the Services — whether in contract, tort (including negligence), strict liability, or otherwise — shall not exceed the total fees paid by you to Saltic during the twelve (12) month period immediately preceding the event giving rise to the claim.

In no event shall Saltic be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to: loss of profits, loss of revenue, loss of business opportunity, loss of data, or cost of procurement of substitute services, regardless of the cause of action or the theory of liability, even if Saltic has been advised of the possibility of such damages.

Saltic shall not be liable for any failure or delay in performing its obligations where such failure or delay results from circumstances beyond its reasonable control, including but not limited to: acts of God, natural disasters, pandemics, government orders, regulatory mandates, Payments Canada system outages, telecommunications failures, power outages, cyberattacks on third-party infrastructure, or labor disputes. Saltic shall not be liable for actions taken in good faith to comply with applicable laws, regulations, or orders of any governmental or regulatory authority, including OSFI, FINTRAC, and the Office of the Privacy Commissioner of Canada.

10. Amendments

We can update these terms with notice.

Saltic may amend these Terms from time to time. For material amendments — including changes to fee structures, liability provisions, dispute resolution mechanisms, or account closure procedures — Saltic will provide a minimum of thirty (30) days' prior written notice. Notice will be delivered via email to the primary contact address on file and posted on the Saltic digital banking platform.

Your continued use of the Services after the effective date of an amendment constitutes your acceptance of the amended Terms. If you do not agree with a material amendment, you may terminate your account without penalty by providing written notice to Saltic before the amendment's effective date. Non-material amendments — such as formatting changes, clarifications that do not alter substantive rights, or updates required by changes in applicable law — may be implemented without advance notice, though Saltic will post updated Terms on its website with the revised "Last Updated" date.

The most current version of these Terms is always available at salticservs.com/terms. You are responsible for reviewing the Terms periodically. Saltic maintains an archive of previous versions available upon request.

Contact

Questions about these terms? Email contact@salticservs.com or call (343) 348-7225.

Registered office: 326 Hunter Street West, Hamilton, Ontario L8P 4A7.