See below what it says on ticket just purchased - and since AC gives 24 hours for full refund, then if you don't like the terms, always fly someone else.
stop whining folks - or better yet, contact your local MP and ask to completely open Canadian Skies - and possibly another carrier might enter the market that offers guarantee of NO BUMPING.
Oh yes, this already exists, called corporate flying - pretty pricey but you get what you pay for... forcing commercial airlines via government fiat to act in a particular way means someone in government knows better than what market will tolerate.
Section 6: Important Information.
Please review this itinerary/receipt and, should you have any questions, please call 1-888-247-2262 within 24 hours of receipt.
NOTICE - SOLD SUBJECT TO TARIFF REGULATIONS.
View Air Canada's General Conditions of Carriage: http://www.aircanada.com/conditionsofcarriage .