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PreAuthorized Payment Plan for Arrears Authorization Form Name: Roll #: Address: City: Postal Code: *Negotiated Payment per Month: see note 8 below for details/We hereby authorize my/our Financial

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How to fill out pre-authorized debit agreement

01

Obtain a pre-authorized debit agreement form from your financial institution or the company you want to authorize for withdrawals.

02

Fill out your personal information including your name, address, and account number.

03

Specify the amount to be withdrawn and the frequency of withdrawals.

04

Sign and date the agreement to authorize the withdrawals.

05

Submit the completed form to your financial institution or the company for processing.

Who needs pre-authorized debit agreement?

01

Anyone who wants to automate recurring payments such as rent, mortgage, utility bills, or subscriptions can benefit from a pre-authorized debit agreement.

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What is pre-authorized debit agreement?

A pre-authorized debit agreement is a financial arrangement where a consumer authorizes a business to automatically withdraw funds from their account to pay for goods or services.

Who is required to file pre-authorized debit agreement?

Both the consumer and the business are required to file a pre-authorized debit agreement.

How to fill out pre-authorized debit agreement?

To fill out a pre-authorized debit agreement, both parties must agree on the terms of the arrangement, including the amount and frequency of payments.

What is the purpose of pre-authorized debit agreement?

The purpose of a pre-authorized debit agreement is to streamline the payment process and ensure timely and hassle-free payments for goods or services.

What information must be reported on pre-authorized debit agreement?

The pre-authorized debit agreement must include the names and contact information of both parties, the amount and frequency of payments, and details of the goods or services being paid for.

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