Terms and Conditions
I/We acknowledge that this Agreement, is provided for the benefit of you and your financial institution and is provided in consideration
of my/our financial institution agreeing to process debits in paper, electronic or other form against my/our account in accordance with
the Rules of the Canadian Payments Association.
I/We warrant and guarantee that all persons whose signatures are required to sign on the Account have signed on the front of this
I/We hereby authorize you to debit my/our Account, for the following purpose: Payment of Recurring Lease Obligations.
This Agreement may be cancelled at any time upon written notice by me/us. I/We acknowledge that, in order to revoke this
Agreement, I/We must provide written notice to you delivered to your mailing address or fax number listed on the front of this
Agreement at least 20 days before my/our next Payment Due Date.
I/We may obtain a sample cancellation form, or further information on my/our right to cancel a PAD Agreement, at my/our financial
institution or by visiting www.cdnpay.ca.
I/We acknowledge that provision and delivery of this Agreement to you constitutes delivery by me/us to my/our financial Institution.
Any delivery of this Agreement to you constitutes delivery by me/us.
If there is a change in the Monthly Fixed Withdrawal Amount, I/we will receive written notice from you of the change at least
10 calendar days before the due date of the first revised PAD, and such notice shall be provided every time there is a change in the
Monthly Fixed Withdrawal Amount.
I/We acknowledge that my financial institution is not required to verify that a PAD has been issued in accordance with the particulars
of this Agreement, but not limited to, the Monthly Fixed Withdrawal Amount.
I/We acknowledge that my financial institution is not required to verify that any purpose of payment for which the PAD was issued has
been fulfilled by you as a condition of honouring a PAD issued or caused to be issued by you on my/our Account.
Revocation of this Agreement does not terminate any contract for goods or services that exists between me/us and you. My/Our
authorization applies only to the method of payment and does not otherwise have any effect on the contract for goods or services
I/We have certain recourse rights if any debit does not comply with this Agreement. For example, I/We have the right to receive
reimbursement for any debit that is not authorized or is not consistent with this Agreement. To obtain more information on my/our
recourse rights, I/We may contact my/our financial institution or visit www.cdnpay.ca.
I/We acknowledge that it is my/our responsibility to confirm that payments are withdrawn in accordance with this Agreement. I/We
may dispute a PAD under the following conditions:
(i) the PAD was not drawn in accordance with this Agreement; or
(ii) my/our authorization in this Agreement was revoked; or
(iii) written notice of a change in the Monthly Fixed Withdrawal Amount or the Payment Due Date was not provided at
least 10 calendar days prior to the next withdrawal.
In order to be reimbursed, I/we acknowledge that a declaration to my/our Financial Institution to the effect that either (i), (ii) or (iii) took
place, must be completed and presented to the branch of the financial Institution holding my/our Account up to and including
90 calendar days in the case of a personal household PAD (or up to and including 10 business days in the case of a business PAD),
after the date on which the PAD in dispute was posted to my/our account.
I/We acknowledge that a claim on the basis that my/our authorization was revoked, or any other reason, is a matter to be resolved
solely between you and me/us when disputing any PAD after 90 calendar days in the case of a personal household PAD or
10 business days in the case of a business PAD.
I/We agree to comply with the Rules of the Canadian Payments Association or any other rules or regulations which may affect the services
described herein, as may be introduced in the future or are currently in effect and I/we agree to execute any further documentation which
may be prescribed from time to time by the Canadian Payments Association in respect of the services described herein.
DISTRIBUTE AS FOLLOWS
Vertica Property Manager
Tenant / Resident