Payors pad 2026

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The document outlines the Payor's Pre-Authorized Debit (PAD) Agreement, detailing the responsibilities of the Payee and Payor regarding payment processing. It includes instructions for retaining the agreement, obtaining transaction codes, and providing necessary account information. The terms and conditions specify authorization for debits, cancellation procedures, pre-notification requirements, and recourse rights in case of disputes. The agreement is intended to facilitate automatic payments while ensuring compliance with Canadian Payments Association rules.

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How to use or fill out Payor's PAD Agreement

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Click ‘Get Form’ to open it in the editor.
Begin by filling in the 'Payor/Payee Information' section. Enter the account holder's name, address, city, province, phone number, postal code, and email. If the Payee is the same as the Payor, check the corresponding box.
In the 'Payment Details' section, attach a specimen cheque marked 'VOID'. Select one payment type from Personal PAD, Business PAD, or Funds Transfer PAD.
Specify the amount of payment and select the frequency (weekly, bi-weekly, monthly) for debits. Ensure you complete any optional fields regarding your financial institution.
Review and sign in the 'Authorization' section. Ensure all required signatures are provided based on your account requirements.
Finally, retain a copy of this agreement for at least 12 months after your last debit transaction.

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