2021-119 Schedule A
Internal
Ontario Southwest Region
275 Dundas Street, 9th Floor
London, ON N6C 3L1
Telephone No.: (519) 663-5724
Email: robin.foley@td.com
October 12, 2021
The Corporation of the Town of Tillsonburg
200 Broadway St. 2nd Fl
Tillsonburg, ON
N4G 5A7
Attention: Sheena Pawliwec, Director of Finance
Thank you for the opportunity to present a renewal agreement of the Business Banking agreement
to the Corporation of the Town of Tillsonburg. We are committed to continue to work with you
to provide a high level of service for your banking and financial needs. As you will find in our
proposal below, we have outlined the existing services, their transaction volumes and associated
published prices. We have modified the pricing of Cash Management services for Tillsonburg
Hydro's BPRS, which will result in an estimated $1,851.00 in new savings per year for you.
Our decision to amend these fees was based on an extensive review of your banking business and
the value of our existing relationship.
TERMS OF COMMITMENT
Pricing is based on information from past business and activity volumes. Should business and/or
activity volumes differ by 10% +/- from historical volumes or there are significant changes in the
market, we reserve the right to reopen discussions with you with a view to negotiating alternative
compensation arrangements. Any pricing changes would be reviewed and mutually agreed to by
the Corporation of the Town of Tillsonburg and TD Bank Financial Group (TD) prior to their
implementation. The products and services outlined in this proposal comply with the Bank Act of
Canada and the Canadian Payments Association and are subject to change from time to time
Either party may terminate the arrangements outlined herein by providing proper written notice to
the other party upon 180 days written notice.
Internal
SUMMARY OF CASH MANAGEMENT SERVICES AND FEES
Cash Management services currently used by the Corporation of the Town of Tillsonburg.
(volumes based on August 2021 transactions volumes)
Product Service Description Published Pricing Volumes
(Aug '21)
Tillsonburg's
Pricing
Monthly
Savings over
Published
Price (Aug
'21)
Balance
Reporting
View all
accounts/companies with
one logon.
Customize each users'
access rights to only those
accounts they need
access to.
$15/mth/account 16 accounts $0/mth/account $240
Payments &
Transfers
Make bill payments and
transfers between
accounts/companies.
Restricted Bill payments –
only those payees signed
off by appropriate signing
officers can be lodged to
this service (fraud
prevention).
$2/transfer
$1/bill payment
$8/stop payment
10 transfers
6 stop
payments
$0/transfer
$0/bill payment
$0/stop payment
$68
Bill Payment
Receiver
Service
Allows customers (rate
payers) to pay online at
any financial institution.
Gives Merchants the
ability to consolidate the
delivery of their bill
payment details through a
single channel – File
Transfer on Web Business
Banking
$75/mth/mailbox
$0.05/payment
2 Mailboxes
(1 Township +
1 Hydro)
2,052
payment –
Town
3,475
payment –
Hydro
Township
$0/mth/mailbox
$0/payment
Hydro (Current)
$50/mth/mailbox
$0.03/payment
Hydro (NEW)
$0/mth/mailbox
$0/payment
$266
Electronic
Funds
Transfer
Send payments
electronically to vendors
in lieu of cheques.
Debits tax payors
electronically for
amounts owing.
$50/mth/org id
$10/file
$0.10/item
$2.50/NSF return
3 Org ids
7 files
4,987 items
20 NSF returns
$0/mth/org id
$0/file
$0/item
$0/NSF return
$768
Internal
Fraud prevention: DUAL
authorization on
outgoing payments in
place and reducing paper
cheques
Remote
Deposit
Capture
Scan and deposit
incoming cheques right
at your desk. 1 scanning
location.
Credits into your account
with 2-4 hours.
$35/mth/scanner
$10/mth/addt'l
acct
$1/deposit
$0.22/item
1 scanner
1 account
24 deposits
1,041 items
$35/mth
(inclusive)
$249
Wire
Payment
Service
Send wires anywhere in
the world
Fraud prevention: Dual
authorization in place
$0/mth
$20/wire TD - TD
$40/ CAN/USA
$50/International
no activity $0/mth
$20/wire TD - TD
$40/ CAN/USA
$50/International
Cheque
Imagine
Archive
Monthly DVD Rom
delivered which includes
images of all cleared
cheques
$25/mth
$0.02/image
1 DVD
111 images
$0/mth
$0 /image
$27
Recommended New Service
Cheque Fraud
Protection
Service
Our Cheque Fraud
Protection Service is an
effective fraud
protection tool that
provides you with a
Web-based facility for
managing cheques
clearing through your
Canadian accounts.
Recommended Service
Type: Positive Pay with
Payee Match
(See appendix for full
details)
$35/mth
$0.90/item
$5/file
Ancillary fees(see
attached)
Note:
$12.50/exception
fee
1/account
110 cheques
4 files
$35/mth
$0.45/item
$5/file
(NEW estimated
monthly fee)
$104.95
$49
Total Monthly Fees Paid Total
Monthly Fee
Saved
Totals $139.95 $1,667
Internal
BANKING SERVICES AGREEMENT
Below is a recap of the existing agreement, with respect to Cash Management Services, Account
Fees, Interest Compensation and Loan Fees
Cash Management Services
Cash Management Services are considered separate and contractual in nature and are subject to
pricing that is independent of the above-mentioned compensation arrangements.
Based on your historical activity volumes, the above pricing amendments represent a savings of
$20,004 per year, over published pricing, for the Corporation of the Town of Tillsonburg.
Account Fees (unchanged)
Monthly Account Flat Fees (all accounts)
Account Flat Fee of $0.00.
This fee was determined based on average monthly volumes over the past 12 months, represent a
savings of $14,150 per year, over published pricing. (see chart below for transaction volumes)
Interest Compensation
Interest will be calculated and paid monthly on the average daily credit balances maintained, at
the following rates:
• Canadian Account Balances: TD Prime Rate – 1.90% (Prime rate as of Oct 5th, 2021 is
2.45%)
Term Investments - Recommended
Indicative term rates as of Oct 5th follows:
1m - 0.36% 6m - 0.48%
2m - 0.43% 9m - 0.53%
3m - 0.45% 12m - 0.58%
4m - 0.46%
Internal
AVERAGE MONTHLY CANADIAN DOLLAR ACCOUNT ACTIVITY
CREDITS Monthly Average Published Price Charge To Customer
In-Branch Deposits
# of deposits 51 $1.25 $63.75
# of RDC deposits 22 $1.25 $27.50
# of CTS deposits 0 $1.25 $0.00
# of items within deposits 702 $0.22 $154.44
$ value of cash & coin deposited $44,929.10 $2.50 per $1,000 $112.32
# of Automated Credits 145 $1.25 $181.25
DEBITS Monthly Average Charge To Customer
# of Cheques issued 106 $1.25 $132.50
# of Automated Debits 22 $1.25 $27.50
SUNDRY Monthly Average Published Price Charge To Customer
# of month end statements 2 $5.00 $10.00
# of charge backs 1 $5.00 $5.00
# of ATS Transfers 21 $0.95 $19.95
SUNDRY Monthly Average Published Price Charge To Customer
Mirror Accounting - # Operating Accts 5 $30.00 $150.00
Mirror Accounting - # Concentration Accts 1 $70.00 $70.00
Interest Allocation Service - # Accts 5 $45.00 $225.00
$1,179.21
$0.00
Volume & Pricing Recap
SUMMARY - CAD Accounts
CURRENT ACCOUNT ACTIVITY
TOTAL CURRENT ACCOUNT ACTIVITY
Published Price
Proposed Flat Fee
Loan Fees
The Corporation of the Town of Tillsonburg
Operating Line – Demand Facility - $4,000,000 TD Prime less 1.00%
TD Prime as at October 12, 2021 2.45%
Tillsonburg Hydro
Capital Expenditure Facility - $5,500,000 authorized* ($5,000,000
drawn)
TD Prime less 0.65%
Letter of Credit - $956,406 currently issued 0.75% per annum
TD Prime as at October 12, 2021 2.45%
* Increase of $500K authorized September 14 th, 2021 with amending credit agreement to be issued.
- There are no monthly admin fees or annual renewal fees associated with either borrower.
Internal
DEDICATED SERVICE TEAM
TD Commercial Banking has a dedicated team of 5 members that is familiar with your portfolio
including Account Manager, Customer Service Officers and Manager of Cash Management,
along with our District Vice President. If there are changes within our team, we hope you will
find any transition seamless.
TERMS OF COMMITMENT
Pricing is based on information from past business and activity volumes. Should business and/or
activity volumes differ by I 0% +/-from historical volumes or there are significant changes in the
market, we reserve the right to reopen discussions with you with a view to negotiating alternative
compensation arrangements. Any pricing changes would be reviewed and mutually agreed to by
the Corporation of the Town of Tillsonburg and TD Bank Financial Group (TD) prior to their
implementation. The products and services outlined in this proposal comply with the Bank Act of
Canada and the Canadian Payments Association and are subject to change from time to time
Either party may terminate the arrangements outlined herein by providing proper written notice to
the other party upon 180 days written notice.
If the terms and conditions as detailed herein to renew our Banking Services Agreement are
acceptable to the Corporation of the Town of Tillsonburg, please confirm your acceptance by
signing below. Upon receipt of this executed agreement, we will program the new fees proposed
above.
We appreciate the opportunity you have afforded us. If you have any questions, please do not
hesitate to call Robin Foley at (519) 663-5724.
Thank you for your business.
~(ir!--
Robin Foley, Manager Cash Management
(dated Nov I 5th,202 I)
TO THE TORONTO-DOMINION BANK
The Corporatio e Town ofTillsonburg hereby accepts the foregoing offer this
· d;Y~O~c.,\J~, 2021. The Borrower confirms that, except as may be set
e crf!cfft facilities detailed herein shall not be used by or on behalf of any third party.