Please complete in full and return this form to Drummer Realty & Property Management. It is essential that you also provide us with a VOID cheque, or the print out from your bank, to ensure the accuracy of the institution, transit and bank account numbers. If you choose to fill out and submit this form electronically, simply hit “Submit” at the bottom of this form. You can attach your direct debit bank form/VOID cheque directly to the email, or simply bring a copy with you when you sign your lease.
I/We hereby authorize Drummer Realty & Property Management to debit my/our account for the amount of my/our rental fee, as of , 20, in the amount of $ per month plus the $1.00 processing charge on the 1st day of each month or following business day. Should my rent be increased by proper 90 days’ notice I permit Drummer Realty & Property Management to debit my/our account at the increased amount as of the date the increase takes effect. No single monthly draw against my/our account may exceed this amount without my/our consent. Each payment shall be treated the same as if I/we had personally issued a written direction authorizing Drummer Realty & Property Management to debit the amount specified from my/our account. This authorization shall remain in effect until canceled by me/us in writing. I/We further understand that any payments not honored by my/our bank may be assessed a processing fee of $45.00. Two to five (2-5) business days should be allowed for processing payments by the bank.
I acknowledge that I may request to cancel this service for one month is needed, with a minimum of two weeks’ notice to Drummer Realty & Property Management before my account is debited. If proper notice is not received the account may still be debited. I may revoke my authorization at any time to cancel this service entirely, subject to providing 30 days’ notice in writing. To obtain a sample cancellation form, or for more information on my right to cancel a PAD Agreement, I may contact my financial institution or visit www.cdnpay.ca
I/We direct that payments be taken from the account as detailed on the attached void cheque.
PLEASE attach a sample cheque, (or equivalent bank form) marked VOID!
Forms must be submitted no later than the 15th day of the preceding month. (For example, if you would like payments to start on May 1st, your form would have to be received in our office by April 15th).
I have certain recourse rights if any debit does not comply with this agreement. For example, I have the right to receive reimbursement for any debit that is not authorized or is not consistent with this PAD Agreement. To obtain more information on my recourse rights, I may contact my financial institution or visit www.cdnpay.ca