Common use of Payment Plan Clause in Contracts

Payment Plan. a) The Payment Plan is agreed between you and the Business. The Business will provide you with a text message or email which contains a link to establish an Account. You must complete the required fields to establish an Account. b) Once you have established the Account, you will be presented with the Payment Plan that has been proposed by the Business. The Payment Plan may contain terms relating to: i. the minimum number of payments, which requires you to make at least the minimum number of payments at the payment amount specified in the Payment Plan; or ii. the minimum value amount of the contract, which requires you to make payments which in total are at least equal to the minimum value amount specified in the Payment Plan. c) You can either accept or reject the Payment Plan. Acceptance constitutes your agreement with the Business to the terms of the Payment Plan and your agreement to this Agreement which authorises us to act on behalf of the Business in relation to the administration of the Payment Plan. d) The Account is the facility from which you can provide us with instructions to amend your personal and payment details or cancel the Payment Plan. If you amend payment details or cancel the Payment Plan, you must ensure that those instructions are submitted on the Account at least 1 Business Day before the next payment date is due under the Payment Plan to ensure subsequent payments reflect your instructions. e) You must not provide your Account password to anyone. You authorise and instruct us to act on instructions you provide to us on the Account without inquiring as to the identity or authority of the person providing the instructions. You will be responsible and liable for instructions provided on the Account regardless of whether they were made or authorised by you. You must immediately notify us if your Account password is compromised. f) Your arrangement with the Business may entitle the Business to amend the terms of the Payment Plan. If the Business makes any amendment to the Payment Plan, we will deem the amended Payment Plan to have replaced the original Payment Plan for the purposes of performing our obligations under the Agreement. You must promptly contact us if you consider that the Business has amended the Payment Plan in breach of its contract with you.