Common use of Accepting preauthorized payments Clause in Contracts

Accepting preauthorized payments. As a seller, you can accept payments from a buyer’s account through preauthorized transfers either on a one-time, regular or sporadic basis. This type of transaction is sometimes called a “billing agreement,” "subscription," "recurring payment,” “reference transaction,” "pre-approved payment " or "automatic payment." If you receive preauthorized payments from buyers: You must: You must not: Get each buyer’s prior authorization for the amount, frequency, and duration of any such payment. Restart future payments without the buyer’s written authorization, if a buyer has stopped or canceled a preauthorized payment. Provide a simple and easily accessible online cancellation procedure, if buyers sign up for preauthorized paymentsonline. Provide buyers the ability to stop any such payment up to 3 Business Days before the date scheduled for payment.

Accepting preauthorized payments. As a seller, you can accept payments from a buyer’s account through preauthorized transfers either on a one-time, regular or sporadic basis. This type of transaction is sometimes called a “billing agreement,” "“subscription," "” “recurring payment,” “reference transaction,” "“pre-approved payment " payment“ or "“automatic payment." ” If you receive preauthorized payments from buyers: You must: You must not: Get each buyer’s prior authorization for the amount, frequency, and duration of any ofany such payment. Restart future payments without the buyer’s written authorization, if a buyer has stopped or canceled a preauthorized payment. Provide a simple and easily accessible online cancellation procedure, if buyers sign up for preauthorized paymentsonlinepayments online. Provide buyers the ability to stop any such payment up to 3 Business Days before the date scheduled for paymentforpayment.

Accepting preauthorized payments. As a seller, you can accept payments from a buyer’s account through preauthorized transfers either on a one-time, regular or sporadic basis. This type of transaction is sometimes called a “billing agreement,” "subscription," "recurring payment,” “reference transaction,” "pre-pre- approved payment " or "automatic payment." If you receive preauthorized payments from buyers: You must: You must not: Get each buyer’s prior authorization for the amount, frequency, and duration of any such payment. Restart future payments without the buyer’s written authorization, if a buyer has stopped or canceled a preauthorized payment. Provide a simple and easily accessible online cancellation procedure, if buyers sign up for preauthorized paymentsonlinepayments online. Provide buyers the ability to stop any such payment up to 3 Business Days before the date scheduled for payment.