Common use of DIRECT DEBIT AUTHORISATION Clause in Contracts

DIRECT DEBIT AUTHORISATION. The following provisions apply if a direct debit arrangement (“Direct Debit Authorization”) is entered between you and us. (a) The Direct Debit Authorization applies in respect of all moneys due and payable to us under the Confirmation and this Agreement; (b) You: - (i) must ensure that enough funds are available in the nominated account to meet all drawings on their due dates; (ii) must advise us immediately if the account nominated is transferred or closed; (iii) must ensure a suitable alternate payment method is arranged with us if you terminate this Direct Debit Authorization; (iv) are liable for all fees incurred by us in relation to failed drawings. (c) We: (d) You: (i) where the due date falls on a non-business day, will draw the amount on the next business day thereafter; and (ii) reserve the right to cancel the Direct Debit Authorization if three or more drawings are returned unpaid by your nominated financial institution and to arrange with you an alternate payment method. (i) may terminate or amend the Direct Debit Authorization at any time by giving 14 days’ prior written notice to us; (ii) stop payment of a drawing under the Direct Debit Authorization by giving 3 days’ prior written notice to us; (iii) where you consider a drawing has been debited incorrectly, you can dispute the drawing directly with us or lodge a direct debit claim through your nominated financial institution.

DIRECT DEBIT AUTHORISATION. ‌ The following provisions apply if a direct debit arrangement (“Direct Debit Authorization”) is entered between you and us. (a) The Direct Debit Authorization applies in respect of all moneys due and payable to us under the Confirmation and this Agreement; (b) You: - (i) must ensure that enough funds are available in the nominated account to meet all drawings on their due dates; (ii) must advise us immediately if the account nominated is transferred or closed; (iii) must ensure a suitable alternate payment method is arranged with us if you terminate this Direct Debit Authorization; (iv) are liable for all fees incurred by us in relation to failed drawings. (c) We: (d) You: (i) where the due date falls on a non-business day, will draw the amount on the next business day thereafter; and (ii) reserve the right to cancel the Direct Debit Authorization if three or more drawings are returned unpaid by your nominated financial institution and to arrange with you an alternate payment method. (i) may terminate or amend the Direct Debit Authorization at any time by giving 14 days’ prior written notice to us; (ii) stop payment of a drawing under the Direct Debit Authorization by giving 3 days’ prior written notice to us; (iii) where you consider a drawing has been debited incorrectly, you can dispute the drawing directly with us or lodge a direct debit claim through your nominated financial institution.