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Mayors PreAuthorized Debit (PAD) Agreement I/we authorize Dairy Farmers of Nova Scotia, and the financial institution designated (or any other financial institution I/we may authorize at any time)

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How to fill out payors pre-authorized debit pad

How to fill out a payor's pre-authorized debit pad:

01

Start by obtaining a pre-authorized debit pad from your financial institution or supplier. This pad contains pre-printed information such as your account details and the payee's information.

02

Write the current date at the top of the form. Ensure that the date is accurate, as this will be used for recording and processing the payment.

03

Fill in your personal or company information in the designated space. This typically includes your name, address, and contact details. Double-check the accuracy of this information to avoid any issues with processing the payment.

04

Enter the payee's information accurately. This includes the payee's name, address, and contact details. If you are unsure about any specific information, it is advisable to reach out to the payee directly or refer to any existing correspondence.

05

Specify the payment amount in both words and numbers. Write the payment amount using words in the designated space provided on the form. Additionally, write the amount numerically in the boxes provided, ensuring that it matches the written amount.

06

Indicate the frequency and duration of the payments. If this is a one-time payment, write the specific date or frequency as applicable. In the case of recurring payments, specify the frequency (e.g., weekly, monthly) and the duration (e.g., 12 months).

07

Sign and date the pre-authorized debit pad. Put your signature in the designated space provided. This indicates your agreement and authorization for the payment to be deducted from your account. Remember to date the form to establish a reference for future records.

Who needs a payor's pre-authorized debit pad:

01

Individuals or businesses that frequently make payments to the same payee or supplier can benefit from having a payor's pre-authorized debit pad. It streamlines the payment process and eliminates the need for repetitive paperwork.

02

Companies or organizations that have regular, recurring payments, such as monthly rent, utility bills, or subscription fees, often find pre-authorized debit pads useful. It ensures timely and automated payments without the need for manual action each time.

03

Individuals or businesses that prioritize convenience may choose to use a payor's pre-authorized debit pad. By setting up automated payments, they save time and effort in preparing and issuing checks or making online transfers manually.

Overall, having a payor's pre-authorized debit pad simplifies the payment process, ensures timely payments, and enhances efficiency for both payors and payees.

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What is payors pre-authorized debit pad?

Payors pre-authorized debit pad is a form used to authorize direct debit transactions from a payor's account.

Who is required to file payors pre-authorized debit pad?

Any individual or entity that wants to set up pre-authorized debits from a payor's account must file the payors pre-authorized debit pad.

How to fill out payors pre-authorized debit pad?

The payors pre-authorized debit pad must be filled out with the payor's personal and banking information, along with details of the authorized transactions.

What is the purpose of payors pre-authorized debit pad?

The purpose of payors pre-authorized debit pad is to provide authorization for direct debit transactions from a payor's account.

What information must be reported on payors pre-authorized debit pad?

The payors pre-authorized debit pad must include the payor's name, address, bank account number, transaction amounts, and frequency of debits.

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