Common use of Authorized Drafts Clause in Contracts

Authorized Drafts. If you voluntarily give information about your deposit account (such as the Credit Union's routing number and your account number) to a party who is seeking to sell you goods or services, and you do not physically deliver a check to the party, any debit to your account initiated by the party to whom you gave the information is deemed authorized.

Appears in 2 contracts

Sources: Business Membership and Account Agreement, Membership and Account Agreement