PAD Agreement Terms & ConditionsPAD Agreement Terms & Conditions
1. Definitions
In addition to the defined terms set out above, in this PAD Agreement: "We", "us", "our", and "Web Genius Ca" refer to Web Genius Ca Inc., and its successors or assigns. "You" "your" and “yours” refer to each holder of the PAD Account. *Payment Amount: The payment due amount, as outlined in your contract/agreement with Web Genius Ca, will be withdrawn. We debit to the PAD Account starting the first statement we provide following the creation of your account with Web Genius Ca Inc on a monthly basis.
2. Acknowledgements
You acknowledge that:
- (i) If this PAD Agreement is used for payment of a business account with us, it is a Business PAD;
- (ii) If this PAD Agreement is used for payment of a personal account with us, it is a Personal PAD;
- (iii) This Agreement is being entered into for our benefit and the benefit of any financial institution that holds the PAD Account (the "PAD Institution"), and is being entered into in consideration of the PAD Institution agreeing to process PADs against the PAD Account in accordance with your contact/agreement with us;
- (iv) We may issue a PAD monthly;
- (v) Delivery of this PAD Agreement to us constitutes delivery by you to the PAD Institution;
- (vi) The PAD Institution is not required to verify that each PAD submitted by us has been issued in accordance with this PAD, including the Payment Amount, or that the purpose of payment for which the PAD was submitted has been fulfilled by us as a condition of honouring the PAD; and
- (vii) IN THE EVENT THE PAYMENT AMOUNT IS VARIABLE, YOU WAIVE ANY REQUIREMENT THAT WEB GENIUS CA INC GIVE PRE-NOTIFICATION OF ANY PAYMENT AMOUNT.
3. Accuracy
You warrant to us on a continuing basis that all persons whose signatures are required to deal with the PAD Account have signed this PAD Agreement and that the information set out above in this PAD Agreement with respect to the PAD Account is accurate and complete. You will notify us in writing (by completing a new PAD Agreement) of any change in such information at least 30 days prior to the next due date of a PAD.
4. Cancellation Rights
You may cancel this PAD at any time by giving us 30 days prior written notice. Such written notice may be provided by completing a new PAD Agreement. For more information on your rights to cancel a PAD Agreement, you may contact your financial institution.
5. Recourse Rights
You have certain recourse rights if any PAD does not comply with this PAD Agreement. For example, you have the right to receive reimbursement for any PAD 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.