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Recurring ACH Payment Authorisation Form Template for England and Wales

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Key Requirements PROMPT example:

Recurring ACH Payment Authorisation Form

"I need a Recurring ACH Payment Authorization Form for my subscription-based software company to process monthly payments from our enterprise clients, with specific provisions for variable payment amounts based on usage and the ability to adjust payment dates quarterly."

Document background
The Recurring ACH Payment Authorization Form is essential for businesses and organizations in England and Wales that need to establish automated, recurring payment arrangements with customers or clients. This document serves as formal authorization for regular electronic fund transfers and must comply with the Payment Services Regulations 2017 and other relevant UK legislation. It includes essential details such as payment amounts, frequency, account information, and the rights and obligations of all parties involved. The form is particularly important for maintaining clear audit trails and ensuring compliance with financial regulations.
Suggested Sections

1. Account Holder Information: Details of the account holder including name, address, and contact information

2. Bank Account Details: Account number, sort code, and bank name

3. Payment Details: Amount, frequency, and start date of recurring payments

4. Authorization Statement: Express consent for recurring payments and acknowledgment of terms

5. Cancellation Rights: Information about how to cancel the authorization

Optional Sections

1. Variable Payment Terms: Additional terms for arrangements where payment amount may vary - used when payment amounts are not fixed

2. Secondary Account Details: Backup account information section - used when a backup payment method is required

3. Business Details: Information about the business receiving payments - used for business-to-business transactions

Suggested Schedules

1. Payment Schedule: Detailed breakdown of payment dates and amounts

2. Terms and Conditions: Full terms governing the payment arrangement

3. Data Protection Notice: Detailed information about data handling and privacy

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Industries

Payment Services Regulations 2017: UK implementation of PSD2 that governs payment services, including consent requirements for payment transactions, regulation of payment service providers, and customer rights and obligations

Direct Debit Scheme Rules (Bacs): UK framework for recurring payments, providing the equivalent system to ACH in the UK context and establishing operational rules for recurring payment processing

Data Protection Act 2018 and UK GDPR: Legislation governing personal and financial data handling, including requirements for data processing consent, storage, and security measures

Consumer Rights Act 2015: Legislation ensuring fairness and transparency in consumer transactions, including requirements for clear terms and consumer protections in payment agreements

Electronic Commerce (EC Directive) Regulations 2002: Regulations governing electronic contracts and transactions, particularly relevant if the authorization form is completed electronically

Financial Services and Markets Act 2000: Primary legislation establishing the regulatory framework for financial services in the UK, including requirements for regulated activities and payment services

Consumer Credit Act 1974: Legislation governing credit agreements, including disclosure requirements and consumer protections for payment arrangements related to credit

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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