This month several system enhancements were released to assist customers submit applications leading to faster processing times:
- Form C (Charge) charge terms character limit has increased to 100,000 from 5,000. Increasing the character limit will minimize the need for attachments.
- Additional ‘Warning’ validations have been introduced to check for attachments as well as confirm all listed transferors/borrowers have executed the form.
In addition, the Form 17 Charge Nature of Interest Conditional Right of Entry has been replaced with the Bank Act Charge. Review Help Guide for more information.