Pre-Authorized Payment (PAP) Conditions
You acknowledge and agree that the pre-authorized debit ("PAD") will be processed monthly, or bi-monthly, as the case may be on or around the same day of the month. We endeavour to process the payment within 3 business days of that date, however there can be no guarantee of the date payment will be processed.
This authorization shall remain in effect until Bluewater Power or the Financial Institution has received 30 days prior notification from you. The notice of cancellation must be provided in writing, or may be communicated verbally if we have some means of identification to confirm your identity.
In the event of any pre-authorized debit ("PAD") being returned for any reason, including "not sufficient funds", you shall be obligated to pay Bluewater Powers its fee for NSF cheques approved from time-to-time. You shall be permitted one PAD returned, and after the second you shall be removed from the pre-authorized payment plan.
Cancellation of the Pre-Authorized Payment Plan does not relieve you of any obligation to pay all amounts owning to us by an alternative method of payment satisfactory to us. This authorization applies only to the method of payment, and does not affect any other obligation that you have to Bluewater Power.
You hereby acknowledge that delivery of this authorization to Bluewater Power constitutes delivery to the financial institution from which the pre-authorized payments shall be taken. That financial institution shall not be required to verify each PAD. You may dispute the PAD if:
(i) it was not drawn in accordance with this authorization, or
(ii) you have cancelled this authorization in accordance with its terms.
In order to dispute a PAD, you must deliver a written declaration that either (i) or (ii) above took place to the financial institution within 90 days (10 days in the case of a business customer) after the disputed PAD was posted to your account. Failure to provide timely notice, means that the disputed PAD must be resolved with Bluewater Power.
You warrant to us on a continuing basis that all persons whose signatures are required to deal with the account you have provided for your financial institution have signed this application and that the information set out on the form is accurate and complete. You undertake to notify us in writing of any change in such information at least two (2) weeks prior to the next due date of a PAD.