A GDR form and a service agreement in the GDR are required to automatically deduct payments from your customers` bank accounts. The documents will be: Do you do a gym, provide software as a service or do you operate another subscription-based business? If so, you probably have a direct debit system. If not, you`ll probably want to create one. When setting up a direct debit system, the law requires you to call your customers` consent to automatically withdraw money from their account. These include the provision of a debit application form (GDR) for customers and a GDR service contract. The Australian Payments Clearing Association (APCA) has specific rules on what your GDR form and service agreement in the GDR should contain. About LegalVision: LegalVision is a technology-driven business law firm that uses technology to deliver better quality and a more cost-effective customer experience. You must also respond to the GDR form or the GDR service agreement: if you indicate this information on the GDR form, the GDR service contract must order the client to refer to the GDR form to confirm this information. The GDR service contract is the document you must make available to your clients with the GDR form. It defines the terms and conditions under which you debit a customer`s bank account. This article explains both the GDR form and the GDR service contract. It also explains how you can make sure you follow APCA rules.
Compliance with APCA guidelines is required by law to arrange withdrawals with your customers. If you need help setting up a GDR system or providing advice on your GDR form and GDR service contract, call LegalVision`s business lawyers on 1300 544 755 or fill out the form on this page. There are certain statements that you need to include in your GDR service contract. Among the information you need to include in your GDR service contract is: The issue of the address or suburb of the establishment is optional. However, your GDR form should contain the following information: you or your user resources who signed or authorized the debit request by other means. Note: With respect to the above reference to “Modification,” your financial institution can only change your debit payment as long as you tell us about your new account data.