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The ACH Agreement Form is a critical document used in Canadian business operations to establish and maintain automated payment relationships between parties. This agreement is essential when setting up recurring electronic payments, whether for business-to-business transactions, consumer payments, or institutional transfers. The document must comply with Payments Canada Rules, federal privacy laws (PIPEDA), and provincial electronic commerce regulations. The agreement typically includes detailed account information, payment schedules, authorization parameters, and mandatory notice periods. It's particularly important for businesses that process regular payments such as subscriptions, mortgage payments, insurance premiums, or utility bills. The ACH Agreement Form serves as both a legal authorization and an operational document that financial institutions require to process automated payments within the Canadian banking system.

1. Parties: Identification of the originator (payee) and the account holder (payor), including full legal names and contact information

2. Background: Brief context explaining the purpose of the ACH agreement and the relationship between the parties

3. Definitions: Key terms used in the agreement including technical banking terms, payment-related definitions, and specific ACH terminology

4. Authorization: Explicit authorization from the account holder for ACH debits/credits, including the scope and nature of authorized transactions

5. Payment Terms: Details of payment arrangements including frequency, amount (fixed or variable), and timing of ACH transfers

6. Account Information: Banking details including institution number, transit number, and account number for both parties

7. Duration and Termination: Term of the authorization and conditions for termination or revision of the agreement

8. Notice Requirements: Required notification periods for changes in payment amount, timing, or account information

9. Dishonored Payments: Procedures and consequences for failed or returned transactions

10. Privacy and Security: Provisions for handling sensitive financial information and data protection measures

11. Governing Law: Specification of applicable Canadian federal and provincial laws governing the agreement