RBC ROYAL BANK COMMERCIAL CREDIT CARD CARDHOLDER

IMPORTANT: As you are a Cardholder, the Card was issued to you at the request of the

Employer. Before you sign or use the Card and/or use the Account, please read this

Agreement thoroughly since it governs your use of the Card and/or the Account. By

signing, using or accepting the Card, or any renewal or replacement of the Card, you

will be agreeing with us to everything written here. If you do not wish to be bound by

this Agreement, return the Card to the Employer right away. This Agreement replaces all

prior RBC Royal Bank

Commercial Credit Card Cardholder Agreements.

1. Definitions and Interpretation

In this RBC Royal Bank Commercial Credit Card Cardholder Agreement (“Agreement”)

the following definitions apply:

“Account” means the account established in your name by Royal Bank at the request

of the Employer, in conjunction with the issuance of a Card, to which Purchases, Cash

Advances, interest and Fees may be charged.

“Account Credit Limit” means the maximum amount of Debt that can remain

outstanding and unpaid on the Account.

“Account Statement” means the Account’s monthly Billing Statement or Memo

Statement, depending on the billing type the Employer has selected, made available to

you and to the Employer by Royal Bank in electronic format through RBC NextLogic

, in

paper format, or in any other alternative formats for accessibility purposes.

“ATM” means an automated teller machine.

“Billing Statement” means, if the Employer has selected “Individual Billing” as the

billing type, the monthly Account Statement, made available to you by Royal Bank,

displaying relevant Account information, including each transaction, interest and

Fees posted to the Account during the Account Statement period, as well as payment

information such as the Minimum Payment and the Payment Due Date.

“Card” means any Commercial Card (and all replacements) issued by Royal Bank to

Cardholders on behalf of the Employer in accordance with the terms of this Agreement.

“Cardholder” means an employee of the Employer to whom a Card is issued at the

request of the Employer and whose name is embossed on the Card, who has been

authorized by the Employer to make Purchases and/or incur other charges with the

Card on behalf of the Employer, in accordance with the Employer’s internal policies and

the terms of this Agreement. “You” or “your” means the Cardholder.

“Cash Advance” means a type of transaction, including a cash withdrawal or a Quasi-

Cash Transaction, charged to the Account.

“Commercial Card” means an RBC Royal Bank commercial card, including the RBC

Commercial Avion

Visa

‡

(“Commercial Avion”), RBC Commercial Cash Back Visa

(“Commercial Cash Back”), RBC Commercial U.S. Dollar Visa (“Commercial U.S.

Dollar”) or RBC Commercial Visa (“Commercial Visa”) card. For greater certainty,

Royal Bank may change this list at any time.

“Commercial Card Program” means the program established between the Employer

and Royal Bank, pursuant to which Royal Bank will establish Accounts and issue Cards

to Cardholders at the request of the Employer, as well as provide the Employer and

Cardholders with access to RBC NextLogic, in accordance with an agreement entered

into between the Employer and Royal Bank.

“Debt” means, on any day, the total amount owing to Royal Bank on the Account. The

Debt is made up of all amounts charged to the Account, including Purchases, Cash

Advances, interest and Fees.

“Eligible Purpose” means a purpose that is authorized by the Employer’s internal

policies for the use of the Cards and Accounts.

“Employer” means the organization that employs you and that authorized and

requested Royal Bank to issue a Card and make the Account available to you.

“Fee” means a fee that applies to the Account, as set out in this Agreement and in any

other document Royal Bank may send to you from time to time.

“Grace Period” means the number of days between the last Statement Date and the

Payment Due Date for the Account.

“Interest Rate” means either the Cash Advance interest rate or the Purchase interest

rate and “Interest Rates” means both the Cash Advance interest rate and the Purchase

interest rate.

“Memo Statement” means, if the Employer has selected “Corporate Billing” as the

billing type, the monthly Account Statement made available to you by Royal Bank, in

a memo format, displaying relevant Account information, including each transaction,

interest and Fees posted to the Account during the Account Statement period. For

greater certainty, no payment information such as the Minimum Payment or the

Payment Due Date appears on a Memo Statement.

“Minimum Payment” means the amount indicated as such on each Billing Statement.

“New Balance” means the amount indicated as such on each Billing Statement.

“Payment Due Date” means the date indicated as such on each Billing Statement.

“PIN” means the personal identification number used by you to perform certain

transactions with the Card, including Purchases at points of sale and cash withdrawals

at ATMs.

“Program Administrator” means an employee of the Employer designated as such by

the Employer to manage the Commercial Card Program on behalf of the Employer.

“Purchase” means a purchase of goods or services (or both) that is charged to the

Account. A Purchase may be made with or without the use of a physical card by using

the Card number only.

“Quasi-Cash Transaction” means a transaction that is similar or easily converted

to cash and that Royal Bank treats as a Cash Advance, including money orders, wire

transfers, travellers’ cheques and gaming transactions (including betting, off-track

betting, race track wagers and casino gaming chips).

“RBC NextLogic” means the online tool provided by Visa (also referred to as “Visa

IntelliLink Spend Management”) which enables the Employer to self-manage its

Commercial Card Program and allows Cardholders to access information on the

Account, including consulting and searching their transactions, and retrieving the

Account Statements.

“Royal Bank”, “we” or “us” means Royal Bank of Canada.

“Statement Date” means the date on which the Account Statement is prepared.

“Terms of Use” means the terms of use, established by Visa, that you will be asked to

read and agree with upon first log-in to RBC NextLogic, and from time to time thereafter

when prompted by Visa.

“Visa” means Visa Inc., Visa International Service Association, Visa Worldwide Private

Limited, and Visa U.S.A. Inc., including their subsidiaries and/or their affiliated entities.

2. Card and Account Use

The Employer has authorized and requested the issuance of a Card in your name.

The Card and the Account can only be used by you and should only be used for an

Eligible Purpose, in accordance with the Employer’s internal policies, including (a) to

make Purchases, whether you buy in person, over the phone, using the Internet or by

mail order; (b) to make cash withdrawals, which constitute Cash Advances, at one of

Royal Bank’s branches, at another financial institution or at an ATM; or (c) for other

purposes that we may authorize from time to time.

If you incur Debt by using the Card number only, without having presented the Card to

a merchant (such as for a Purchase using the Internet), the legal effect will be as if you

had used the Card and signed a sales draft or receipt or entered your PIN.

You agree that the Card and the Account will not be used for gambling, online gaming,

illicit drug transactions, or any other unlawful purpose. We may refuse to authorize

certain types of transactions at our discretion.

The Employer may also impose restrictions on all aspects of the use of the Card,

including usage restriction to selected merchant category code groups.

Different types of Commercial Cards come with different features and services. The

Employer may, at its discretion, allow you to participate in and make use of additional

optional features and/or services. You may not use the Card to obtain any such features

and/or services unless you have received authorization from the Employer. If the

Employer requests any of these optional features and/or services, Royal Bank may

send you a separate document outlining any additional terms and conditions for the

optional features and/or services.

3. Cash Advances

If the Employer has selected this option, you may use the Card to obtain cash by either:

(a) making a cash withdrawal from the Account at a Royal Bank branch or ATM, or at

any other financial institution’s branch or ATM; or

(b) making a Quasi-Cash Transaction.

If you are uncertain as to whether a particular transaction will be treated as a Cash

Advance or as a Purchase, you should contact the Program Administrator.

Interest is always charged on a Cash Advance, from the day the Cash Advance is made.

Cash Advance Fees also apply to certain Cash Advances. These fees are set out in the

“Other Fees” section of this Agreement.

4. Account Credit Limit

The Program Administrator will set the Account Credit Limit for the Account. The

Account Credit Limit represents the maximum credit available on the Account.

RBC ROYAL BANK COMMERCIAL CREDIT CARD

CARDHOLDER AGREEMENT

108751 (06/2019)

® / ™ Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.

‡

All other trademarks are the property of their respective owner(s). VPS104049 108751 (06/2019)

Upon your first log-in to RBC NextLogic, and from time to time thereafter when

prompted by Visa, you will be asked to read the Terms of Use and agree with them. If

you do not agree with such Terms of Use, you will not be able to access RBC NextLogic

and use the RBC NextLogic services.

As an RBC NextLogic user, you:

(a) will be responsible for complying with the Terms of Use. Royal Bank, the Employer

or Visa may immediately revoke your access to RBC NextLogic if you do not

comply with such Terms of Use;

(b) must be familiar and comply with the processes, required file formats and

procedures for RBC NextLogic and its services, all as outlined in the Employer’s

internal policies;

your passwords, user name and other identification, as the case may be; and

(d) must maintain the confidentiality of any information that is contained in or

retrieved from RBC NextLogic, such as Account Statements and reports.

As an RBC NextLogic user, you also acknowledge that:

(a) RBC NextLogic and its services are provided by Visa, and the Terms of Use have

been established solely by Visa, not Royal Bank;

(b) information collected by Visa in connection with your use of RBC NextLogic and

its services will be used in accordance with Visa’s privacy policy, accessible from

the Terms of Use;

“Visa Commercial Services” used in the Terms of Use have the same meaning as

RBC NextLogic and its services;

(d) all information and data contained in RBC NextLogic remains the property of

Royal Bank; and

(e) Royal Bank, the Employer or Visa may revoke or suspend your right to use RBC

NextLogic at any time, without notice to you.

17. RBC Rewards Program

If your Commercial Card earns RBC Rewards

points, which can be redeemed for

merchandise, travel and other rewards, and if the Employer gives you access to

those points, you acknowledge that your participation in the RBC Rewards program

is subject to the RBC Rewards Terms and Conditions, which are available for review

at www.rbcrewards.com. The RBC Rewards Terms and Conditions are subject to

change without notice. Paper copies are available upon request, by contacting Royal

Bank during regular business hours using the contact information indicated on the

Account Statements or calling the number indicated on the back of the Card

(1-888 ROYAL 3-4).

18. Collection, Use and Disclosure of Your Information

Even though a Card is issued to you at the Employer’s request, our primary business

relationship is with the Employer. We will not ascertain your personal creditworthiness

by obtaining credit bureau reports at the time the Card is issued or periodically

thereafter. However, we may make other inquiries or checks about you as required by

law or regulation, for example, in compliance with anti-money laundering obligations.

Except as otherwise specified in this Agreement, Royal Bank will not communicate with

you directly and will not send you any marketing promotion or offer. However, if you are

a participant in the RBC Rewards program, Royal Bank may communicate with you if

you have provided consent and your email address for that purpose.

Notices under this Agreement, legal disclosures and other communications may be

sent directly to you, through RBC NextLogic or otherwise. You further agree to access

the Account Statements electronically through RBC NextLogic and to access any

notices, legal disclosures or communications that we may provide electronically.

Royal Bank has, prior to issuing a Card to you, obtained from the Employer, and kept,

the following information about you: your legal first and last name, business address,

business email address, business phone number and employee identification number.

In certain circumstances, Royal Bank may request additional information or

documentation from the Employer in order to verify your identity at a level sufficient

to allow Royal Bank to issue a Card to you in compliance with applicable laws. The

Employer may also furnish to Royal Bank information about your use of the Card and/

or the Account, and other pertinent information such as delinquency information,

employment/contract status and location, and any other related tracking information.

You consent to all such use and transfer of any such information.

The Employer is liable for all Debt on the Account and governs your use of the Card.

The Employer (which may include your direct supervisor) will have access to any and

all information concerning your use of the Card and the Account, including detailed

billing information forming part of a total charge and information pertaining to each

Purchase, Cash Advance or other transaction charged to the Account and all your

activities as a Cardholder.

Royal Bank will process and analyze information about how Cardholders use the Cards

to develop reports that may be made available to the Employer. Royal Bank will remain

the owner of such information and reports.

Royal Bank may also provide information related to amounts charged to the Account

to selected merchants and suppliers used by you, when requested by such merchants

and suppliers to analyze business trends, handle disputed transactions and generally

for marketing purposes. Provision of such data will be in an anonymous format and

non-attributable to you.

19. Changing Your Contact Information

You will tell the Employer or the Program Administrator if you change your address,

e-mail address or telephone number and will give the Employer or Program

Administrator other information that we may need from time to time to keep our

records up to date.

20. Amendments

Royal Bank has the right to amend or change this Agreement, as well as any service and

benefits that come with the Card, at any time. If required by applicable law, Royal Bank

or the Employer will notify you in writing of the change.

21. Termination

Charging privileges available to you will be withdrawn upon (i) abuse of charge

privileges by you (including, but not limited to, the failure of your obligation to use the

Card and/or the Account for an Eligible Purpose only, and to comply with any other

obligation as provided in this Agreement); (ii) termination of your employment with

the Employer; or (iii) termination or suspension of the Commercial Card Program

agreement between Royal Bank and the Employer.

22. Governing Law

This Agreement shall be interpreted and governed in accordance with the laws of the

province or territory in which the Employer resides (or the laws of the Province of

Ontario if the Employer resides outside Canada) and the applicable laws of Canada.

23. Language

Royal Bank and the Employer have expressly requested that the Agreement and all

related documents, including Account Statements and notices, be drawn up in the

English language. Banque Royale et l’Employeur ont expressément demandé que cette

convention et tout document y afférent, y compris tout relevé de compte et tout avis,

soient rédigés dans la langue anglaise.

24. How to Contact Royal Bank

If you need help or have questions about the Card, the Account or RBC NextLogic,

contact the Program Administrator or Royal Bank during regular business hours using

the contact information indicated on the Account Statements or calling the number

indicated on the back of the Card (1-888 ROYAL 3-4).

The Account Credit Limit will either be indicated on the documents accompanying the

Card when it is issued or the Program Administrator will inform you of the Account

Credit Limit. The Account Credit Limit will also be indicated on each Billing Statement.

You must observe the Account Credit Limit such that amounts owing on the Account

must not exceed the Account Credit Limit. However, Royal Bank may, from time to time

(but is not required to), permit the Debt to exceed the Account Credit Limit. Royal Bank

may also, at any time, refuse to permit the Debt owing on the Account to exceed the

Account Credit Limit and require any balances which exceed the Account Credit Limit

to be paid immediately.

If the Debt owing on the Account exceeds the Account Credit Limit at any time during an

Account Statement period, an “Overlimit Fee” will be charged to the Account, which will

appear on the next Billing Statement.

The Program Administrator may increase or decrease the Account Credit Limit at any

time, without prior notice to you.

5. PIN and Other Security Features

You must protect the security of the Card and the Account at all times. When you receive

the Card, you will be prompted to select a PIN. In the documentation accompanying the

Card, Royal Bank will explain to you how to select your PIN and how to change it. Royal

Bank will treat your PIN as your authorization whenever it is used with the Card. Any

transactions done using the Card with the PIN will have the same legal effect as if you

have signed a sales draft.

To prevent misuse of the Card, you must ensure that you:



sign the Card in ink as soon as it is received;



keep the Card secure at all times;



regularly check that you still have the Card in your possession;



do not let anyone else use the Card;



ensure that you retrieve the Card after using it; and



never give out the Card details, such as the CVV number (the 3-digit number in

reverse italics on the back of the Card), except when using the Card in accordance

with this Agreement.

To protect your PIN, you must ensure that you:



select a PIN which cannot be easily guessed;



do not select a PIN using a combination of your name, date of birth, telephone

numbers, address or social insurance numbers;



take care to prevent anyone else seeing your PIN when you are selecting it or

changing it, over the phone or through an ATM;



memorize your PIN;



do not write your PIN on the Card;



do not keep a record of your PIN with or near the Card or Account details;



do not tell your PIN to anyone; and



take care to prevent anyone else from seeing your PIN when entering it into an ATM

or other electronic device.

No one but you is permitted to know or use your PIN or any other security codes such

as passwords, access codes and Card numbers that may be used or required for

Internet or other transactions. You will keep these security codes confidential and

separate as well.

6. Card Renewal and Replacement

A renewal Card will be issued to you before the expiration date indicated on the Card.

Renewal and replacement Cards will continue to be sent to you at the most current

business address Royal Bank has on file for you, provided the Account is active and in

good standing, until the Employer advises Royal Bank to stop. As soon as you receive

the new Card, you must activate it and destroy the old Card.

7. If the Card Expires

The Card expires at the end of the month indicated on the Card. You must not use the

Card or the Card number if the Card has expired or after the Account is closed, and you

must destroy your Card.

8. Problems With a Purchase

Royal Bank is not responsible for any problem you may have with a Purchase. If you

have a problem with anything purchased using the Card, you must settle the problem

or dispute directly with the store or merchant.

In some circumstances, Royal Bank may be able to help you resolve disputed

transactions. If you wish to discuss a dispute, contact Royal Bank during regular

business hours using the contact information indicated on the Account Statements or

calling the number indicated on the back of the Card (1-888 ROYAL

3-4).

Royal Bank is not responsible if the Card is not honoured by a merchant at any time or

for any other problem or dispute you may have with a merchant.

9. Credit

If a store or merchant issues a credit or otherwise gives a refund to you, Royal Bank

will reduce the balance of the Account by the amount of the refund. However, if interest

and/or Fees have been charged as a result of the transaction, Royal Bank will not refund

the interest and/or the Fees.

You agree that you will not resell or return for a cash refund any goods, tickets, or

services obtained with the Card. However, you may return an item to a merchant

honouring the Card for credit to the Account if that merchant permits such return.

10. Account Closure/Card Revocation or Suspension of Use

The Employer may close the Account and cancel the Card at any time.

Royal Bank may also revoke or suspend your right to use the Card and the Account at

any time, without prior notice to you, including when the amounts owing on the Account

exceed the Account Credit Limit.

11. Ownership of the Card

The Card remains the property of Royal Bank. You must surrender the Card to the

Employer or to Royal Bank upon request.

12. Unauthorized Transactions

If a Card is lost, stolen or has never been received by you after it has been requested

by the Employer, or if you suspect the Card is lost or stolen or being misused, you

must inform Royal Bank immediately using the contact information indicated on the

Account Statements or calling the number indicated on the back of the Card

(1-888 ROYAL 3-4). You must also inform the Program Administrator immediately.

After Royal Bank has been informed that the Card has been or may have been lost,

stolen, misused, or the Card remains unreceived, Royal Bank will be able to prevent the

use of the Card and Card number.

If we suspect unauthorized or fraudulent use of the Card or Card number, the use of the

Card can be blocked or prevented without notice to you.

If a Card that you have reported lost or stolen is later found, you must destroy it and

wait for the replacement Card. You must also select a different PIN for the replacement

Card.

13. Account Statements, Verification and Disputes

Each month, you will be given access to or provided with either a Memo Statement or a

Billing Statement, depending on the billing type the Employer has selected.

Royal Bank will make the Account Statements available electronically, through RBC

NextLogic. The Account Statements will remain available to you in RBC NextLogic for

consultation and printing at no charge for six (6) months following the Statement Date.

They may also be retrieved after six (6) months, and/or be provided in paper format

upon request to the Program Administrator, for a Fee. Account Statements are also

available in other alternative formats for accessibility purposes, upon request. Please

contact the Program Administrator for more information.

Royal Bank will not provide the Account Statement if there has been no activity on the

Account during an Account Statement period and no Debt is owing.

If the date on which Royal Bank would ordinarily prepare the Account Statement falls

on a date for which Royal Bank does not process statements (for example, weekends

and certain holidays), Royal Bank will prepare the Account Statement on the next

statement processing day. The Payment Due Date will be adjusted accordingly.

Each month, you will be responsible for ensuring that you have promptly examined the

Account Statement and each transaction, Interest Rate, charge and Fee recorded on it.

You will notify Royal Bank of any error, omission or objection to the Account Statement,

or to an entry or balance recorded on it, within thirty (30) days from the Statement Date

shown on that Account Statement.

14. Fees and Charges

14.1. Interest Rates and Charges

The current Interest Rates are set out on each Billing Statement. They are expressed

as annual percentage rates. The standard Interest Rates are shown in the chart

outlined in the “Standard Annual Fees, Grace Periods and Interest Rates” section of this

Agreement. The Interest Rates may change from time to time.

The Employer can avoid interest on both Purchases and Fees on the Account by always

paying the New Balance in full on or before the Payment Due Date, every month.

Cash Advances never benefit from an interest-free Grace Period; this means that

interest is always charged from the transaction date.

Royal Bank does not charge interest on interest.

14.2. Currency of Fees

The currency of the Fees listed in this Agreement is as follows:

(a) Canadian dollars: for the Commercial Avion, Commercial Cash Back and

Commercial Visa Cards; and

(b) U.S. dollars: for the U.S. Dollar Commercial Card.

14.3. Standard Annual Fees, Grace Periods and Interest Rates

The following provides some guidance with respect to standard non-refundable annual

fees, Grace Periods and standard Interest Rates for the Commercial Cards.

The annual fee may be different from that shown in this Agreement if the terms and

conditions for other banking and related services the Employer has with Royal Bank

provide otherwise.

Commercial

Card Product

Non-

Refundable

Annual

Fees

Grace

Period

(days)

Interest Rates

For each

Card

Purchase

Interest

Rate

Cash Advance

Interest Rate

RBC Commercial

Avion Visa

$120 21 19.99% 22.99%

RBC Commercial

Cash Back Visa

$60 21 19.99% 22.99%

RBC Commercial

Visa

$30 21 19.99% 22.99%

RBC Commercial

U.S. Dollar Visa

$60 21 19.99% 22.99%

14.4. Other Fees

(a) Cash Advance Fee: For all Commercial Cards except the Commercial U.S. Dollar

Card, when you obtain the following types of Cash Advances, a $3.50 fee for each

transaction will be charged to the Account, unless otherwise stated:

(i) a cash withdrawal charged to the Account at one of Royal Bank’s branches or

ATMs, or at any other financial institution’s ATM, in Canada; or

(ii) a Quasi-Cash Transaction charged to the Account, in Canada.

If the Cash Advance occurs outside Canada, a $5.00 fee will be charged each time.

For the Commercial U.S. Dollar Card only, if the Cash Advance occurs in the U.S., a

$3.50 USD fee will be charged each time, and if the Cash Advance occurs outside

the U.S., a $5.00 USD fee will be charged each time.

Some factors outside of Royal Bank’s control may influence whether the Cash

Advance is treated as a domestic or a foreign transaction.

(b) Overlimit Fee: If the balance on the Account exceeds the Account Credit Limit

at any time during the Account Statement period, a $29.00 fee will be charged

to the Account on the Statement Date and on each subsequent Statement Date

if the balance remains over the limit. A maximum of one “Overlimit Fee” will be

charged to the Account per Account Statement period.

institution returns a cheque or refuses a pre-authorized debit, a $45.00 fee will

be charged to the Account on the date the payment reversal is posted. This fee is

in addition to any other fee charged for insufficient funds in the banking account.

(d) Account Statement Paper Copy: For each paper copy of the Account Statement,

or for a reprint of the Account Statement, a $5.00 fee will be charged to the

Account. Exceptions may be granted for Account Statements provided in an

alternative format for accessibility purposes. For each Billing Statement update

obtained from a Royal Bank branch in Canada, a $1.50 fee will be charged to the

Account.

(e) Transaction Receipt Copy Fee: For a copy of any receipt that relates to a

transaction on the current Account Statement, no fee will be charged. Otherwise,

a $2.00 fee for each copy will be charged each time the situation occurs. Receipt

copies are not always available for Purchases made using a Card with a PIN.

14.5. Foreign Currency Conversion

Except for the Commercial U.S. Dollar Card, which is billed in U.S. dollars, all transactions

shown on the Account Statement are billed in Canadian currency.

The exchange rate shown on your Account Statement, to six decimal places, is

calculated by dividing the converted Canadian dollar (CAD) amount, rounded to the

nearest cent, by the transaction currency amount. It may differ from the original

benchmark rate because of this rounding. The CAD amount charged to your Account

is 2.5% over the benchmark rate. Some foreign currency transactions are converted

directly to CAD, while others may be converted first to U.S. dollars, then to CAD. In

either case, the benchmark rate will be the actual exchange rate applied at the time

of the conversion, and is generally set daily. The original benchmark rate at the time a

transaction was converted may be obtained at usa.visa.com/support/consumer/travel-

support/exchange-rate-calculator.html. If interest is being charged to your Account, it

will also be charged on the full value of your foreign purchases, as determined by our

exchange rate. For Commercial U.S. Dollar Cards, transactions are shown in U.S. Dollars

and the same principles will apply if an amount is charged in a currency other than U.S.

Dollars. If you have any questions, please call us at 1-888 ROYAL

3-4 (1-888-769-2534).

15. Payments

15.1. Liability for the Debt

The Employer is liable for all Debt charged to the Account. You, the Cardholder, are not

liable for any Debt charged to the Account.

15.2. Responsibility for Making Payments

(a) Corporate Billing: If the Employer has selected “Corporate Billing” as the billing

type, you will receive a Memo Statement each month. You will be responsible

for ensuring that you have promptly examined the Account Statement and each

transaction recorded on it and that there is no error, in accordance with the

“Account Statements, Verification and Disputes” section of this Agreement. Other

actions may be required from you by the Employer or the Program Administrator

in connection with the Employer’s responsibility for making payments.

(b) Individual Billing: If the Employer has selected “Individual Billing” as the billing

type, you will receive a Billing Statement each month. The Employer will explain

to you what your responsibilities in connection with payments are and/or who

you should send the Account Statement to for payment. If you are uncertain,

please contact the Program Administrator for more information.

All payments must be made in accordance with the instructions indicated at

www.rbc.com/payments and in accordance with the Employer’s policy for such

payments.

i. When to Make a Payment

A payment on the Account must be made by the Payment Due Date shown on

each Billing Statement. Even when normal postal service is disrupted for any

reason, payments must continue to be made on the Account.

Payments sent to Royal Bank by mail or made through another financial

institution’s branch, ATM or online banking service may take several days

to reach Royal Bank. A payment is not credited to the Account and does not

automatically adjust the available Account Credit Limit until Royal Bank has

processed the payment. It may take several days to adjust the available Account

Credit Limit depending on how the payment is made.

Payments can be made in full or in part at any time.

ii. Minimum Payment

The Minimum Payment amount will be shown on each Billing Statement. Any

past-due amounts will be included in the Minimum Payment amount.

Any amount that exceeds the Account Credit Limit must be paid immediately,

even though Royal Bank may not yet have sent a Billing Statement on which that

excess appears.

The Minimum Payment must be made by the Payment Due Date each month for

your Account to remain up-to-date, even if Royal Bank is delayed in or prevented

from making available, for any reason, any one or more Billing Statements.

iii. No Over Payment

You are not permitted to make a payment on the Account exceeding the Account

Credit Limit, unless the Debt at the time of the payment is more than the Account

Credit Limit.

If a payment of more than the Account Credit Limit is made, such over payment

will not have the effect of increasing the Account Credit Limit and/or provide you

with additional credit. Also, interest will not be paid on the positive balance.

iv. Pre-Authorized Bill Payments

If pre-authorized bill payments have been set up on the Account, and you wish

to discontinue any pre-authorized bill payment, you must contact the merchant

in writing and then check a subsequent Billing Statement to ensure that the

payments have, in fact, stopped.

If the payments have not stopped despite your instructions to a merchant, Royal

Bank may be able to help you if Royal Bank is given a copy of the written request

to the merchant.

If requested by the Employer, you may have to provide the Program Administrator

with a current list of pre-authorized bill payment arrangements with each payee

that are to be paid using the Account.

16. RBC NextLogic

As part of the Commercial Card Program, Royal Bank offers the Employer and

Cardholders access to RBC NextLogic and its services, on certain terms and conditions.

You will have to access RBC NextLogic to consult and review transactions on the

Account and to retrieve the Account Statement each month.