Cancellation Notice Form PDF Details

In the financial landscape, the process of cancelling a pre-authorized debit (PAD) transaction holds significant importance for both payors and payees, ensuring that both parties have a mutual understanding of the termination of scheduled payments. The Cancellation Notice form serves as a crucial tool in this communication, formally notifying the payee of the payor's decision to stop pre-authorized debits from their account. This document outlines the essential information including the names of the payor and payee, the account number, the amount of the debits being cancelled, and the effective date of the cancellation. Moreover, it emphasizes the requirement for signatures from all valid signing authorities if the payor's account agreement mandates it, illustrating the collaborative nature of financial agreements. Notably, the form reiterates the persistence of other obligations between the payor and payee that are not extinguished by this cancellation, ensuring that parties remain aware of continuing commitments. Additionally, it offers guidance on the submission process, recommending that cancellations are communicated directly to the payee and suggesting a variety of delivery methods including registered mail, email, or fax, among others, according to the stipulations in the PAD Agreement. This underscores the tailored approach to financial transactions, allowing for flexibility while maintaining the integrity and legality of the process.

QuestionAnswer
Form NameCancellation Notice Form
Form Length1 pages
Fillable?No
Fillable fields0
Avg. time to fill out15 sec
Other nameswww cdnpay ca cancel, get the cdnpay ca cancellation form, pad cancellation form, cdnpay ca cancellation form

Form Preview Example

 

 

CANCELLATION NOTICE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TO:

(Payee name)

 

 

 

 

 

 

DATE:

(date)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I/We, (Payor name), cancel my/our authorization to issue (Personal, Business, Funds Transfer or Cash Management) pre-authorized debits in the amount of (amount) against my/our account number (account number) effective on (date). I/We acknowledge that this cancellation does not terminate any other obligation that I/we may have with the Payee.

Signed:

Payor/Valid Signing Authority(ies)

Where the Payor’s account agreement requires the signature of two or more signing authorities, the

signatures of all such person are required for the purposes of this Cancellation Notice.

Note: Please note that the CPA cannot cancel a PAD Agreement. All cancellation requests must be submitted directly to the Payee with whom you have established a PAD Agreement. It is advisable to notify the Payee in writing and keep a record of the cancellation request.

Subject to the terms of any agreement between a Payor and Payee including their Payor’s PAD Agreement, a Cancellation Notice may be provided to a Payee by way of registered mail, telephone, Internet, e-mail, fax or prepaid courier and must be provided in compliance with the notice requirements for cancellations, if any, set out in the applicable Payor’s PAD Agreement.

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