Confirmation of PAD Authorization
You have given pre-authorized debit (“PAD”) authorization for Square Technologies, Inc. (“Square”, “we” or “us”) to debits the bank account linked to your Square account (“Bank Account”). The debits will be made in connection with payments owed by your business (“Business”) under a Square Instalment Sales Agreement (the “Agreement”).
You confirm that you have given a PAD authorization on behalf of the Business. You can view information confirming your linked bank account by signing onto your Dashboard. For information confirming payment amounts, schedule, and frequency, please refer to the email we sent confirming the details of your installment plan (“Welcome Email”) and the Agreement. We are also providing you more information confirming the PAD authorization, below.
As early as the first scheduled monthly payment shown in your Welcome Email and Agreement and (as needed) as often as every month afterward, you have authorized and directed us to debit your Bank Account pursuant to the amounts identified in the Welcome Email and Agreement.
You have agreed that we may increase or decrease the amount of the PAD to equal the total amount then outstanding under the Agreement. You also authorized us to make debits from the Bank Account for any other payments (including any missed payment(s)), fees, or other charges owed to us under the Agreement or the PAD authorization) and agreed that we may debit any such amounts, in each case, around the date the amounts are due (or, if such date is on a weekend or statutory holiday, on the next business day). The PAD authorization will be valid until the Business pays all amounts owed under the Agreement, or unless the PAD authorization is revoked as noted here.
If any of the details identified here are incorrect, please contact Square immediately at www.squareup.com/help/us/en (English) or www.squareup.com/help/ca/fr (French) and clicking on “contact support”. If the details are correct, you do not need to do anything further and the PAD authorization will take effect as described here.
You may revoke or cancel the PAD authorization at any time by closing the account you created with Square Canada, Inc. Cancellation will be effective once we and the financial institution holding your Bank Account have a reasonable opportunity to act on it. It may take as long as 10 days for Square to complete your request, so any PAD scheduled before that time may be processed. You understand that revocation of the PAD authorization does not cancel the Agreement and the Business will still be required to meet the obligations in the Agreement.
You have certain rights if any debit does not comply with the PAD authorization. For example, you have the right to receive a reimbursement for any debit that is not authorized (if required) or is not consistent with the PAD authorization. To obtain more information on your recourse rights, contact your financial institution or visit www.payments.ca.
Please note that if any debit initiated on the Bank Account provided under the PAD authorization is not honoured by the financial institution holding your Bank Account for any reason, then Square shall be entitled to issue another debit to substitute for the dishonoured debit until the debit is honoured, and we will also be entitled to initiate a separate debit to cover any NSF fees. In addition, the financial institution holding your Bank Account may charge the Business fees for unsuccessful PADs. You agreed that we shall be under no liability whatsoever caused by a dishonoured debit or for any such fees.
You have waived all pre-notification requirements under the Payments Canada Rules in respect of any debits drawn from the Bank Account arising under or in connection with the Agreement including, without limitation, your right to receive prior notice of any adjustment of the payment amount or change to the payment date of any debits drawn from the Bank Account.
Please refer to the PAD authorization for all the terms and conditions that apply to you in respect of PADs drawn from the Bank Account and keep a copy of this Confirmation for your records. If you have any questions or would like a copy of the PAD authorization, you can contact Square. For English support please go to www.squareup.com/help/us/en or for French support please go to www.squareup.com/help/ca/fr.