Common use of Account Authorization Clause in Contracts

Account Authorization. Company authorizes Processor, TPA, and IC to initiate electronic debit and or credit entries to and from the bank account disclosed below. Company understands that adjustment entries may be made to this account to insure an accurate and balanced accounting of all transactions. This authorization will remain in effect until Company cancels authorization in writing. phone ▇▇▇.▇▇▇.▇▇▇▇ - fax ▇▇▇.▇▇▇.▇▇▇▇ - ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ - ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇, ▇▇▇. ▇▇▇▇, ▇▇▇▇▇, ▇▇ ▇▇▇▇▇ Bank Name Bank Routing Number (nine digits) Bank Account Number Account Type (checking or savings)