FAQs
General
A partial payment (also known as pro-rata or daily interest charge) will be collected for the number of days you have possession of the equipment before your contract starts. This amount will be discussed prior to the withdraw. Should you have questions regarding this amount, please contact your Sales Representati
There could be a few reasons why your payment has increased. Administrative costs such as interest and late fee will be charged as a result of receiving your payment late. Non-sufficient charge, for returned cheque or dishonored pre-authorization debit. Non-compliant charge for insufficient evidence of an Auto insurance policy. In most cases, your payment has increased due to the equipment being placed on Meridian’s automatic insurance program. For more information go to the FAQ link on our Home page.
There could be a few reasons why your payment has increased. Administrative costs such as interest and late fee will be charged as a result of receiving your payment late. Non-sufficient charge, for returned cheque or dishonored pre-authorization debit. Non-compliant charge for insufficient evidence of an Auto insurance policy. In most cases, your payment has increased due to the equipment being placed on Meridian’s automatic insurance program. For more information go to the FAQ link on our Home page.
Please contact your original equipment vendor, as any warranties or service agreements would be handled between you and your original dealer.
Yes. Final release paperwork transferring ownership will be issued at the end of your contract.
While your agreement is non-cancellable, depending on the type of contract you signed, you can discuss any return options with our Customer Service team by email client.service@M1Cap.ca or 1 (866) 986-6738
Fax us a written request at 1-866-687-7091 or 604-646-2222. On review of the request, we will respond within 24 hours.
You have options depending on the end of term agreement you signed. Contact our Customer Service team to discuss, by email at client.service@M1Cap.ca or 1 (866) 986-6738.
Yes. Contact our Customer Service team and request a trade up or buyout quote, and please call 1-866-986-6738 to prepare an Application for the new equipment.
Contact our Customer Service team by email at client.service@M1Cap.ca or 1 (866) 986-6738.
Contact our Customer Service team by email at client.service@M1Cap.ca or 1 (866) 986-6738.
Contact our Customer Service team by email at client.service@M1Cap.ca or 1 (866) 986-6738.
Equipment Protection Program
Meridian OneCap provides a quick and easy way for you to fulfill the insurance requirement of your finance agreement. As our customer, you are automatically enrolled. If you choose to purchase your own policy, please provide sufficient proof of coverage to us, and your enrollment in the Program will be cancelled.
Program benefits
- Covers perils included in typical commercial policy plus many more such as theft, flood and wind
- Provides repair or replacement of your equipment
- Protects equipment immediately – nothing more for you to do
- No deductible – minimum claim amount is $100
- Program charge is conveniently included in your regular lease or finance payment
For questions or additional information, please send an email to Client.Service@meridianonecap.ca, or give us a call at 1-866-986-6738.
Your lease or finance agreement requires that your equipment have sufficient insurance. This is a requirement of the financial institution before they will fund the transaction
Because your lease or finance agreement requires insurance, and as a customer convenience, we offer the Program to help you easily fulfill the insurance requirement and avoid the risk of being unprotected. Plus, this coverage is often broader than a standard commercial or businessowners policy, providing added peace of mind.
Some policies are adequate; however, your policy may still leave you at risk for certain perils, and you may be subject to large out of pocket deductibles, rate increases, or in certain circumstances, coverage cancellation. You should check with your agent or broker.
Yes; you will need to have your agent or broker provide sufficient proof of other insurance coverage to our Insurance Center. Also, if you do obtain your own insurance coverage, the policy must name Meridian OneCap as a loss payee.
The charge for participating in the Equipment Protection Program is based on the type of equipment and its value, and the term of the lease or finance agreement. The charge may also include an administrative fee, payable to Meridian OneCap. This administrative fee covers the cost to obtain protection and maintain the program.
Meridian OneCap’s parent company, is the owner of the equipment. Naming Meridian OneCap as a loss payee means that any claim settlement payment will be paid directly to Meridian OneCap.
No; this Program is available exclusively for equipment leased or financed through Meridian OneCap. If your other equipment is leased or financed through another institution, it is not eligible for this Program.