PAD agreement

Gan - Shalom Preschool | 10500 Bathurst St., Vaughan, ON L6A 0H2 | Tel: 905-303-1880

Upload a Void Cheque image Here. File must include:

Name of Financial Institution

Branch Transit Number 

Financial Institution Number 

Bank Account Number

or a Pre-Authorized Info Sheet if a cheque is not available (see your financial institution).

1. I (the Payor) authorize Gan - Shalom Preschool (the Payee) to withdraw Pre-Authorized Payments from the above designated bank account, of which I am the/an authorized signatory. If I am not the authorized signatory or if this is a joint account, the appropriate signature is also provided below. 

2. I confirm that the person(s) whose signature(s) is/are required for the above noted bank account have signed this PAD Payor Agreement (PAD Agreement) and the information provided above is accurate and complete.

3. I understand that the outstanding debt covered by this PAD Agreement as of the date of signature(s) below will continue to accrue applicable interest and/or fees during the term of this PAD Agreement where authorized to do so. In the event of a residual balance on the account that is less than the fixed instalment amount,  Gan - Shalom Preschool will contact the Payor to negotiate the settlement of the residual amount. Y

4. In the event that new debt is incurred by the Payor while this PAD Agreement is in effect,  Gan - Shalom Preschool  will contact the Payor to discuss the new debt and negotiate another PAD Agreement for the new debt. 

5. I understand that I may cancel this PAD Agreement at any time by providing written notice to  Gan - Shalom Preschool, at the address indicated above. This notification must be received by no later than twenty (20) days before the next scheduled withdrawal. 

6. I agree to inform  Gan - Shalom Preschool, in writing at the address noted above, of any change in the above information (for example, banking information/recurring instalment amount). This notification must be received by no later than twenty (20) days before the next scheduled withdrawal. 

7. I understand that cancellation of this PAD Agreement refers to the method of payment only and does not negate the Payment Plan between myself and  Gan - Shalom Preschool or any financial obligations to repay my debt that is owed to the Crown. 

8. I waive my right to receive pre-notification of the amount of the periodic PAD and agree that I do not require advance notice of the amount of PAD before a withdrawal is processed. 

9. I agree that in the event of a non-negotiable payment (e.g.: NSF, account closed, etc.), I will be liable to a charge equal to an NSF fee. 

10. In the case of an unsuccessful withdrawal attempt (e.g.: NSF), I agree that the outstanding amount will be withdrawn with the subsequent instalment that is made under this PAD Agreement. In the event of reoccurring unsuccessful PAD withdrawals,  Gan - Shalom Preschool  may terminate this PAD Agreement and resume collection actions.

11. I acknowledge that acceptance of this payment method is subject to the discretion of Gan - Shalom Preschool.

12. I agree that I may dispute a PAD only under the following conditions:

(i) the PAD payment was not in accordance with this PAD Agreement,

(ii) the PAD Agreement was revoked.

13. The Payor shall indemnify and hold harmless  Gan - Shalom Preschool from and against any and all liability, loss, costs, damages and expenses (including legal, expert and consultant fees), causes of action, actions, claims, demands, lawsuits or other proceedings (collectively, "Claims"), by whomever made, sustained, incurred, brought or prosecuted, including for any third party liability, in any way based upon, occasioned by or attributable to anything done or omitted to be done by the Payor in connection with this Agreement unless solely caused by the negligence or willful misconduct of Gan - Shalom Preschool.

14. I consent to the collection, use, and disclosure of my personal and financial information by  Gan - Shalom Preschool for the purpose of processing these pre-authorized debits. 

15. I confirm I have read, understood and agreed to the above Terms and Conditions of this PAD Agreement.

Payor’s Recourse/Reimbursement Statement:

As a payor, you have certain recourse rights if any withdrawal does not comply with this agreement. For example, you have the right to receive reimbursement for any withdrawal that is not authorized or is not consistent with this PAD Agreement. To obtain more information on your recourse rights, you may contact your financial institution or visit Canadian Payments Association Rule H1 Pre-Authorized Payments (PADs) Part VII- Reimbursement and Recourse.

  I declare that the information provided in this agreement is accurate and complete to the best of my knowledge.  

  I acknowledge that my electronic signature on this document is legally binding and has the same effect as a handwritten signature.