Debit Arrangements Clause Samples
Debit Arrangements. 2.1 By making a DDR you authorise the Lender to arrange for funds to be transferred from your Nominated Account in accordance with this Direct Debit Service Agreement, and you also authorise the financial institution where your account is held (Financial Institution) to debit your Nominated Account accordingly.
2.2 The DDR must be in writing signed by you unless otherwise agreed by the Lender. The Lender may not agree to act on a telephone, facsimile, email or other instruction for any reason, including if the Lender believes or suspects that the instruction is fraudulent, mistaken or unauthorised.
2.3 You agree that if the Lender accepts an instruction by telephone, facsimile, email or other means the Lender approves from time to time, the risk of an unauthorised transaction or a fraud lies with you and you will not make any claim on the Lender, and will indemnify the Lender against any claim on the Lender made by anyone else, as a result of or in connection with the Lender acting on such an instruction.
2.4 Direct debits will not commence until the Lender has processed your direct debit application.
2.5 All direct debits made on your behalf in accordance with a DDR are deemed payments by you.
2.6 If the date you have nominated for payment falls on a day that is not a Business Day, the Lender may direct the Financial Institution to debit your account on the following Business Day. If you are unsure about which day your account has been or will be debited please check with the Financial Institution.
2.7 Nothing in this Direct Debit Service Agreement affects or overrides the terms of the Agreement. If the result of a debit payment being returned is that you do not make a payment due under the Agreement on time then an Event of Default will occur for the purpose of that Agreement and default interest may accrue on the unpaid amount.
2.8 If there are insufficient cleared funds available in your Nominated Account to meet any debit payment:
(a) you or your Nominated Account may be charged a fee and/or interest by the Financial Institution;
(b) the Lender may charge a fee to reimburse itself for costs or charges it has incurred as a result of the failed transaction;
(c) if there has been a Margining Event or you are in default in your payments, you must arrange for the payment to be made by another method or arrange for sufficient cleared funds to be in your Nominated Account within 3 days or such other period as the Lender specifies so that the Lender can make ...
Debit Arrangements. 2.1 The first debit under this DDSA will occur on the first day of the month as nominated by you after we receive your DDR. If the nominated day is not a business day, we will seek to debit your account on the next business day. From then on, we will direct debit your nominated account on the day of each month that the instalment is due (or the next business day).
2.2 If the payment fails we may reattempt to debit your nominated account up to six (6) times after the original debit date.
2.3 We will continue to debit your nominated account each month until the expiry date specified in your DDR or, if no such date has been specified, until you advise us to do otherwise.
Debit Arrangements. If we receive your first DDR debit under this Direct Debit arrangement between the first and tenth business day of the month, then the first payment will be taken at this time. If it is received after the tenth business day, then the payment will be taken on the first business day of the following month. From then on, Reflection Outreach will debit all future donations from nominated accounts on the first business day of each month that instalments are due, until such time as you advise us otherwise.
Debit Arrangements. 11.1.1. By applying for a Wisr App Account, you agree to the terms of this Agreement and request and authorise us to make periodic debits on your Funding Account for:
a) Your Contributions (less any fees and costs) to be paid to your Debt Account; and
b) any amount payable to us by you, including any payable Account Maintenance Fees.
11.1.2. You authorise Ezidebit Pty Ltd ACN ▇▇▇ ▇▇▇ ▇▇▇ (Direct Debit User ID number 165969, 303909, 301203, 234040, 234072, 428198) (“Ezidebit”) to perform the above periodic debits on your Funding Account on behalf of us.
11.1.3. You acknowledge that Ezidebit is acting as a direct debit agent for us and that Ezidebit does not provide any goods or services (other than the direct debit collection services to you for us pursuant to this Direct Debit Request Service Agreement) and has no express or implied liability in regard to the goods or services provided by Wisr or the terms and conditions of any agreement that you have with Wisr.
11.1.4. You acknowledge that there may be a delay in processing the debit if:-
a) There is a public or bank holiday on the day of the debit, or any day after the debit date;
b) A payment request is received by Ezidebit on a day that is not a banking Business Day in Queensland; or
c) A payment request is received after normal Ezidebit cut off times, being 3:00pm Queensland time, Monday to Friday. Any payments that fall due on any of the above will be processed on the next business day.