Common use of WAGE DEDUCTION AUTHORITY Clause in Contracts

WAGE DEDUCTION AUTHORITY. If You fail to make any payment by its due date and we are unable to contact You within five Business Days of the due date, We may activate the assignment of wages and/or wage deduction authority without further notice to You. You authorise the assignment of wages and wage deduction authority for Our use at any time during the term of Your Loan and You acknowledge that We relied on Your assignment of wages and wage deduction authority when We agreed to enter into the Loan with You. Any deductions made pursuant to the wage deduction authority will be for instalment amounts which are the same as or less than the initial agreed instalments but otherwise at Our discretion and in accordance with Our obligations as a responsible lender.