TAP

Financing and Contract Terms - Consumer Protection pillar

Also known as: Total Amount Payable, total amount payable

Total Amount Payable. The sum of all payments due over the full term of an HVAC rental or finance contract, including interest, escalation, and fees.

TAP (Total Amount Payable) is the legally-disclosed dollar figure on the face page of an Ontario HVAC rental or finance contract showing the cumulative payment obligation over the contract term. For a rental, this is monthly_payment x term_months, plus any annual escalation built into the schedule. Most consumers see only the monthly payment and not the TAP, which is how a $99/month furnace rental quietly turns into a $23,760 obligation over 20 years. TAP is the single most useful consumer-protection number on a rental contract.

See the full Ontario HVAC and home energy glossary or browse the Consumer Protection pillar.