Notice of Varying Amount. If your preauthorized recurring payments vary in amount, the person you are going to pay will notify you, 10 days before each payment, when the payment will be made and how much it will be. You may choose instead to receive a notice only when the payment would differ by more than a certain amount from the previous payment, or when the amount would fall outside certain limits that you set. Liability for Failure to Stop Payment of Preauthorized Transfer: If you order us to stop payment in the required time and you have provided us with the information we have requested, and we do not do so, we will be liable for your losses or damages that are directly caused by our failure to stop payment.
Appears in 3 contracts
Sources: E Sign Disclosure and Consent, E Sign Disclosure and Consent, Electronic Funds Transfer Disclosure and Agreement