ARCHIVED - Telecom Order CRTC 2002-410

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Telecom Order CRTC 2002-410

Ottawa, 16 October 2002

Aliant Telecom Inc.

Reference: Tariff Notice 37

Interest on deposits


The Commission received an application by Aliant Telecom Inc. (Aliant Telecom), dated 6 August 2002, to introduce General Tariff item 120, Interest on Deposits, to ensure that the terms for payment of interest on deposits would be consistent across the Atlantic region.


Aliant Telecom indicated that, at present, a tariff for interest on deposits does not exist for New Brunswick. Given that the proposed tariff would apply across its serving territory in the Atlantic region, Aliant Telecom also proposed to remove references to interest on deposits from the following tariffs:

- Island Telecom Inc. General Tariff item 12.9;
- Maritime Tel & Tel Limited (MTT) General Tariff item 12.9; and
- NewTel Communications Inc. (NewTel) General Tariff item 16.


Aliant Telecom noted that under its proposed tariff, the interest to be paid on deposits is the prime lending rate of the Royal Bank of Canada, less 2.5%. Aliant Telecom stated that the proposed tariff is identical to the NewTel's General Tariff item 16, with two exceptions.


First, the interest on deposits would reflect the prime lending rate of the Royal Bank of Canada rather than the prime lending rate of the Bank of Nova Scotia. Aliant Telecom indicated that the prime lending rate of both of these banks is identical.


Second, Aliant Telecom also proposed to include items 12.9 (a)(2) and 12.9 (b) from MTT's General Tariff. Aliant Telecom indicated that these items would clarify its application of interest on deposits as well as its treatment of interest to be paid on advance payments or overpayment of accounts.


The Commission received no comments with respect to the application.


The Commission approves Aliant Telecom's application. The revisions take effect as of the date of this order.

Secretary General

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Date Modified: 2002-10-16

Date modified: