Personal Pre-Authorized Debit. Unless you otherwise authorize in writing, upon the Payment Trigger Date, you authorize Canada to debit the financial institution account as entered or such other financial institution account as you have advised in writing to collect your Outstanding Loan Balance as follows: You grant your revocable (changeable) authorization to Canada, and any financial institution which holds such an account, to: i. exchange the financial information necessary to facilitate such Personal Pre-Authorized Debits according to the Payments Canada Rule H1; and ii. debit the financial institution account on each Loan Payment Due Date, for the Loan Payment Amount in accordance with the payment terms of the MSFAA-Canada, and to remit that as payment to Canada. You may revoke your authorization at any time, subject to providing 30 days’ notice to the NSLSC. You have certain recourse and reimbursement rights if any debit does not comply with the terms of this section. To obtain a sample cancellation form, or for more information on your right to revoke this authorization and your recourse rights to dispute or receive reimbursement for any debit that is not authorized or is not consistent with the terms of this section, you may contact your financial institution or visit Payments Canada. Revocation of your authorization does not terminate your responsibility to pay your Outstanding Loan Balance; it only terminates this method of payment.
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