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6.8 Exception Payments. Tax payments and court-ordered payments may be scheduled through the Billpay Service; however, such payments are discouraged and at your own risk. In no event shall we be liable for any resulting claims or damages. The Billpay Service Guarantee as it applies to any late-paymentrelated charges is void when these types of payments are scheduled and/or processed by us. We have no obligation to research or resolve any claim resulting from an exception payment. All research and resolution for any misapplied, misposted, or misdirected payments will be your sole responsibility. 6.9 Failed or Returned Transactions; Overdraft Protection. In using the Billpay Service, you are requesting us to make payments for you from your Payment Account. If we are unable to complete a requested Transaction for any reason associated with your Payment Account (for example, your Available Balance is insufficient to cover it), the Billpay Transaction may not be completed. In some instances, you will receive a return notice from us. In each such case, you agree that: a) You will reimburse us immediately upon demand the Billpay Transaction amount indicated in the return notice; b) For any amount not reimbursed to us within 15 days of the initial notification, you will pay us a late charge equal to 1.5% monthly interest or the legal maximum, whichever rate is lower; and c) We are authorized to report the facts concerning the return to a credit-reporting agency. If a Billpay Transaction results in an overdraft situation and you have established overdraft protection by means of a margin account, you may be required to deposit more money or securities in your Payment Account. If you are unable to do so, or if the Billpay Transaction exceeds your margin cash available, Vanguard Brokerage may be required to sell all or a portion of your pledged assets. You will also be subject to margin interest as disclosed in your margin agreement. 6.10 Address or Payment Account Changes. It is your sole responsibility to ensure that the contact information maintained in your user profile on the Billpay Service website is current and accurate. This includes, but is not limited to, name, address, phone number(s), and e-mail address(es). Changes can be made either through the Billpay Service website or by contacting Vanguard Brokerage at 800-992-8327. Any changes in your Payment Account should also be made in accordance with the procedures outlined in the Billpay Service website’s Help area. All changes made are effective immediately for scheduled and future payments paid from the updated Payment Account information. We are not responsible for any payment processing errors or fees incurred if you do not provide accurate Payment Account or contact information. 6.11 Billpay Service Termination, Cancellation, or Suspension. In the event you wish to cancel the Billpay Service, you may do so through the Billpay Service website or you may contact Vanguard Brokerage via one of the following methods. Telephone us at 800-992-8327 on business days from 8 a.m. to 10 p.m. or on Saturdays from 9 a.m. to 4 p.m., Eastern time; or Write to us at: Vanguard Brokerage Services P.O. Box 1170 Valley Forge, PA 19482-1170 Any payment(s) we have already processed before the requested cancellation date will be completed. Scheduled Payments including recurring payments will not be processed. We may terminate or suspend service to you at any time. Neither shall affect your liability or obligations under this Agreement. 6.12 Payee Limitation. We reserve the right to refuse to pay any Payee. We will notify you promptly. This notification is not required if you attempt to make a prohibited or exception payment under this Agreement. 13 of 31
6.13 Returned Payments. In using the Billpay Service, you understand that Payees and/or the United States Post Office may return payments to us for various reasons, including but not limited to Payee’s forwarding address expired, account number not valid, unable to locate account, or account paid in full. We will use our best efforts to research and correct the payment and return it to your Payee or void it and credit your Payment Account. You may receive notification from us in these events. 6.14 Information Authorization. Your enrollment in the Billpay Service may not be fulfilled if we cannot verify your identity or other necessary information or based upon a review of historical records relating to your Account. Through your enrollment in the Billpay Service, you agree that the Billpay Provider reserves the right to request a review of your credit rating at its own expense through an authorized bureau. In addition, you agree that we reserve the right to obtain financial information regarding your account from a Payee (for example, to resolve payment posting problems or for verification). 6.15 Bill Delivery and Presentment. This feature is for the presentment of electronic bills only; it is your sole responsibility to contact your Payees directly if you do not receive your bills or account statements. In addition, if you elect to activate one of the Billpay Service’s electronic bill options, you also agree to the following: 14 of 31 6.15.1 Information provided to the Payee. We are unable to update or change your personal information, including, but not limited to, name, address, phone number(s), and e-mail address(es), with the electronic Payee. You will need to contact the Payee directly. Additionally, it is your responsibility to maintain all user names and passwords for all electronic Payee sites. You also agree not to use someone else’s information to gain unauthorized access to another person’s bill. 6.15.2 Activation. Upon your activation of the electronic bill delivery and presentment feature, we may notify the Payee of your request to receive electronic billing information. The timing of presentment of your first electronic bill may vary and may take up to 60 days, depending on the billing cycle of each Payee. Additionally, your ability to obtain a paper copy of your statement(s) is at the sole discretion of the Payee. While your request is being activated, it is your responsibility to keep your accounts current. Each Payee reserves the right to accept or deny your request to receive electronic bills. 6.15.3 Notification. We will use our best efforts to present all of your electronic bills promptly. In addition to our posting the bills on the Billpay Service website, the Payee may send an e-mail notification to the address you provide. It is your sole responsibility to ensure that this information is accurate. In the event you do not receive notification, it is your responsibility to periodically log on to the Billpay Service website and check on the delivery of new electronic bills. Notification time may vary. You are responsible for ensuring timely payment of all bills. 6.15.4 Cancellation of electronic bill notification. You and each electronic Payee reserve the right to cancel the presentment of electronic bills at any time. The time frame for cancellation may take up to 60 days, depending on the billing cycle of each Payee. We will notify your electronic Payee(s) as to the change in status of your account, but it is your sole responsibility to make arrangements for an alternative form of bill delivery. We will not be responsible for presenting any electronic bills that are already in process at the time of cancellation. 6.15.5 Nondelivery of electronic bill(s). You agree to hold us harmless should the Payee fail to deliver your bill(s) or statement(s). You are responsible for ensuring timely payment. Copies of previously delivered bills must be requested from the Payee directly. 6.15.6 Accuracy and dispute of electronic bill. We are not responsible for the accuracy of your electronic bill(s). We are only responsible for presenting the information we receive from the Payee. Any discrepancies or disputes regarding your bill summary or detail must be addressed with the Payee directly.
Page 1 and 2: What’s inside: Commission and Fee
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Page 5 and 6: Mutual funds from other companies:
Page 7 and 8: Fees for other services VanguardAdv
Page 9 and 10: Form VAACFPC Brokerage Account Upgr
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Page 13 and 14: Vanguard Brokerage Margin Account A
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Page 21 and 22: “Billpay Transaction” means any
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