pre-authorized bank debit (pad) agreement - Tourism Whistler ...

TOURISM WHISTLER’S PRE-AUTHORIZED PRE-PAYMENT PLAN (PAPP)TERMS OF THE PLAN1. INTEREST: Interest will be paid at a rate deemed by Tourism Whistler to be fair relative to theprevailing interest rates. Interest will be accrued and applied to your account monthly, and will beincluded on your Statement.2. STATEMENTS: Your Statement will show your current balance, including the amount you haveprepaid (plus interest accrued), and the total amount owing, if any.3. MONTHLY PRE-PAYMENTS: Each monthly pre-payment will be processed on the last businessday of each calendar month, beginning the month in which the PAPP Application Form is submitted,with any remaining balance processed annually on the due date of June 30th. Monthly prepaymentestimates are based on current assessment fees (please refer to Section 3, Option 1 of thePAPP Application Form). However, you may choose to pay a different monthly amount, or simplymake a one-time payment of the full amount on the due date of June 30th.Tourism Whistler will not automatically adjust your monthly withdrawal amount if your assessmentfees change; however, you may change your monthly withdrawal amount at any time by givingwritten notice to Tourism Whistler.4. AUTOMATIC RENEWAL: Your enrollment in the PAPP will continue until such time you provideus with written notice of cancellation. It is your responsibility to cancel your participation in the PAPPbefore you sell your property.5. CANCELLATION: You may cancel your participation in the PAPP at any time by providing us withwritten notice of cancellation (please allow up to two (2) weeks processing time).6. TERMINATION: Your enrollment in the PAPP may be terminated by Tourism Whistler if twoconsecutive payments are dishonoured by your financial institution.7. NSF FEES: A service charge of $45 will be applied to your account for all dishonoured PAPPtransactions.8. VOID CHEQUE: A VOID cheque must accompany the PAPP Application Form if you wish tomake your payment(s) using Bank Debit.9. CREDIT CARD: If payment is by credit card, it is the Cardholder’s responsibility to promptly notifyTourism Whistler of any changes to the card, including any change to the expiry date. A $25 servicecharge will be applied to your account for each declined credit card charge.10. FINANCE CHARGES: A 6% finance charge will apply to any balance outstanding on youraccount as of July 1st, and a 1% finance charge will be applied monthly to any balance outstandingthereafter.