Enhanced Refer a Friend Offer
Terms and conditions
General:
1. Embark Student Corp. Refer a Friend Offer (the “Offer”) starts on November 1, 2024 at 12:01 a.m. EST and expires on November 30, 2024 at 11:59 p.m. ET.
2. “Friend or family member” refers to known friends or family members with whom you have a personal or family relationship which includes direct, voluntary, two-way communications and who have confirmed that they want to receive the communication. Each time you make a referral, you represent and warrant to us that you have a personal or family relationship with the individual that you refer that complies with these terms.
Eligibility:
3. The Offer is available to all existing Embark Student Corp. subscribers and New Subscribers who meet all the following conditions:
a. “Referrer”: An existing Embark Student Corp. subscriber who refers a friend or family member to enrol as a New Subscriber using their unique referral code (“Unique Code”) or URL.
b. “Referee”: A New Subscriber who has been referred by the Referrer to enrol a New Beneficiary in an Embark Student Plan or an Embark Select Conservative Plan (“Embark Plan”) using a Unique Code or URL.
c. A “New Subscriber” is a person that has never been a subscriber of an Embark Plan or a plan distributed by Knowledge First Financial Inc.
d. A “New Beneficiary” is defined as one that has not had their SIN previously registered with any Embark Plan. New Beneficiary must have a valid SIN and the newly opened plan must be eligible for registration with the Canada Revenue Agency (CRA) as a Registered Education Savings Plan (RESP).
e. Referee enrols in an Embark Plan www.embark.ca/start-saving/.
Referral Bonus Conditions:
1. A Referral bonus of $300 (“Referral Bonus”) for each New Beneficiary enrolled in Embark Plan by the Referee will be paid to the Referrer provided all conditions set out in these Terms and Conditions are met.
2. An Onboarding Bonus of $300 (“Onboarding Bonus”) for each New Beneficiary enrolled in Embark Plan by the Referee will be paid to the Referee provided all conditions set out in these Terms and Conditions are met.
3. For the Referral Bonus and the Onboarding Bonus to be earned, the Referee must complete the following actions (“All Actions”):
a. Successfully open a new Embark Plan for a New Beneficiary,
b. Enroll a New Beneficiary in an Embark Plan using the valid Unique Code or URL provided by the Referrer,
i. If enrolling via digital channel, the Referee must use the URL provided by the Referrer or enter the valid Unique Code in the correct field at the time of enrolment, or
ii. If enrolling with the assistance of the Education Savings Specialist – who cannot be the Referrer – the Referee must provide Education Savings Specialist with the Unique Code or the URL at the time of enrolment, and ensure they confirm the receipt of the Unique Code or the URL.
4. Embark Plan is deemed successfully opened and enrolled in when the Referee has satisfied the Account Terms, and the newly opened plan is registered as a RESP with the CRA.
5. The Referral and Onboarding Bonus, as applicable, will be deposited as principal contribution into the Referrer’s and the Referee’s respective Embark Plans within ninety (90) days of the Referee completing All Actions. It is the Referrer’s and Referee’s responsibility to know they have enough contribution room in their respective Embark Plans, so that the Referral and Onboarding Bonus does not exceed the maximum amount of contributions allowed by the CRA. Embark Student Corp. will not be held responsible for any taxes or penalties resulting from payment of any bonus or excess contributions, or for the contributions not attracting grants.
6. Neither the Onboarding Bonus nor the Referral Bonus shall be paid in cash or other form or paid to another related or unrelated RESP account outside of Embark Plan with the New Beneficiary.
7. The Referrer will not be eligible for the Referral Bonus if the Referee has already enrolled using another Referrer’s Unique Code or URL or enrolled outside of the Offer (i.e., enrolled without using the Referrer’s Unique Code or URL).
8. The Referee must keep their Embark Plan active for twelve (12) months after the date of the enrollment of each New Beneficiary. In the event of termination of Embark Plan within that timeline, both the Onboarding Bonus and the Referral Bonus will be subtracted from the balance of the Referee’s and Referrer’s respective Embark Plans. When Embark Plan is terminated, standard closing costs and transfer out fees will apply, as defined in the Student Plan Prospectus or Embark Select Conservative Plan’s Prospectus.
9. All amounts are stated in Canadian dollars.
Limitations:
13. Once the Unique Code has been submitted or the URL used by the Referee, it cannot be reused by the Referee; however, the Referrer can share the Unique Code and/or URL with multiple Referees. Each Referee may only use the Unique Code and/or URL to enroll once, regardless of whether the Referee received or had access to multiple Unique Codes and/or URLs from different Referrers.
14. This Offer cannot be combined with any other Embark Student Corp. offers.
15. The Offer and the Unique Code(s)/URL(s) can only be used for personal, non-commercial purposes. Unique Code(s) and URL(s) may not be transferred or sold or mass distributed.
16. In the event of conflict, these Terms and Conditions will prevail over any of the contents of any brochure, promotional materials or statements, or any other communication regarding this Offer, whether written or oral from Embark Student Corp., except where otherwise stated.
17. Embark Student Corp. reserves the right at its sole discretion to, without advance notice, terminate or suspend the Offer, in whole or in part, or modify it in any way.
18. Embark Student Corp. reserves the right, at its sole discretion, to suspend, disqualify, limit or revoke this Offer for any Referrer and/or Referee, whom it finds or believes to be manipulating or otherwise abusing the process, fairness, or integrity of the Offer or who otherwise becomes ineligible. Referral and/or Onboarding Bonuses earned through fraudulent activities or activities in violation of these Terms and Conditions will be null and void and repayment may be requested by Embark Student Corp.
19. By accepting this Offer, you agree that you have read and understood these Terms and Conditions and agree to be bound by them. Any notice offered by us with respect to this Offer is deemed to be provided on the day it is posted on Embark Student Corp.’s website.