Tolling Agreement (Agreement that Stops the Clock on Limitation Periods)
OBSI believes that access to our service, as an alternative to the legal system, should be encouraged, not discouraged.

We had been hearing from stakeholders that some individuals were not bringing their banking services or investment complaint to us. The reason was that they were concerned that while OBSI was looking at their complaint, the clock would run out on their ability to commence legal action against their financial services firm.

(OBSI will not look at customer complaints when legal proceedings are ongoing related to the complaint.)

The time permitted to commence legal action after the date an alleged grievance occurred is known as a limitations period. In Canada these time limits vary among the provinces and territories. A tolling agreement is the name for an agreement that stops the clock on the limitations period, and is permitted in every Canadian jurisdiction except Quebec.

OBSI’s Terms of Reference were revised effective February 1, 2010 to require all participating firms to enter into a tolling agreement - an agreement that stops the clock on the limitation period - while OBSI considers a client complaint (if requested by OBSI and where permitted by law).

Following consultations with stakeholders, OBSI will now be facilitating tolling agreements for all clients where permitted by law.

Most clients with a banking services complaint against one of OBSI’s participating firms will now be covered by a blanket tolling agreement. This blanket agreement is an agreement signed by most banks and provided to OBSI that confirms a suspension of the limitations period for all complaints that come to OBSI. While each of these banks has signed a separate agreement, the text of each agreement is the same. The limitation period will be suspended for complaints that fall under this agreement beginning on the date the participating firm receives the consent letter signed by the client and will end thirty [30] days after OBSI mails our final findings letter to the client.

The text of the blanket agreement can be viewed by clicking here.

Clients with any complaint not covered by the blanket agreement but for whom tolling agreements are permitted will be covered via clauses in OBSI’s consent letter. The consent letter is a letter signed by clients that gives firms permission to share with OBSI personal information related to complaints so that we may investigate. The limitation period for complaints not covered by the blanket agreement will be suspended beginning on the date the firm signs a copy of the consent letter and will end thirty [30] days after OBSI mails our final findings letter to the client.

A copy of the consent letter used for these complaints can be viewed by clicking here.

If clients have questions about their limitation period they should seek independent legal advice.

All questions and inquiries related to the tolling agreements can be directed to ombudsman@obsi.ca.