The Auto Payment Contract is essential for businesses operating in India that offer subscription-based services or require recurring payments from customers. This document is designed to comply with India's stringent regulatory framework, including RBI's e-mandate guidelines, digital payment security controls, and consumer protection requirements. It's particularly relevant in the post-2021 regulatory environment, which mandates specific authentication protocols and transaction limits for recurring payments. The contract covers crucial elements such as payment authorization, processing procedures, customer notifications, and cancellation rights, while ensuring compliance with Indian banking regulations and data protection requirements. It's structured to protect both merchant and customer interests while facilitating smooth, automated payment processing.
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1. Parties: Identification of the merchant/service provider and the customer/payer, including full legal names and contact details
2. Background: Context of the agreement, nature of services/products for which auto payments are being set up
3. Definitions: Key terms used in the agreement including 'Auto Payment', 'Payment Date', 'Payment Method', 'Authorization', etc.
4. Payment Terms: Details of payment amount, frequency, duration, and payment method
5. Authorization: Express consent for automatic debits, including authentication requirements as per RBI guidelines
6. Payment Processing: Process flow for auto payments, including timing, notifications, and confirmation mechanisms
7. Modification and Cancellation: Procedures for changing or terminating the auto payment arrangement
8. Failed Payments: Handling of failed transactions, retry attempts, and consequences
9. Security and Data Protection: Measures for protecting payment information and personal data
10. Representations and Warranties: Standard declarations by both parties regarding authority, capacity, and compliance
11. Liability and Indemnification: Allocation of risks and responsibilities between parties
12. Term and Termination: Duration of the agreement and termination conditions
13. Governing Law and Jurisdiction: Applicable law and courts for dispute resolution
1. Multiple Payment Methods: Include when customer can switch between different payment methods
2. International Payments: Required for cross-border transactions, including currency conversion terms
3. Reward Programs: If auto payments are linked to any loyalty or reward programs
4. Special Cancellation Rights: Additional termination rights for specific service categories
5. Force Majeure: Protection against unforeseen circumstances affecting payment processing
6. Third-Party Service Providers: When payment processing involves additional service providers
7. Promotional Terms: For special offers or discounts linked to auto payment setup
1. Schedule A - Payment Schedule: Detailed breakdown of payment amounts, dates, and frequency
2. Schedule B - Service Description: Details of services/products for which payments are being made
3. Schedule C - Technical Requirements: Technical specifications for payment processing and authentication
4. Schedule D - Customer Information: Customer's bank account/card details and authorization forms
5. Appendix 1 - RBI Compliance Checklist: Checklist ensuring compliance with RBI guidelines for auto payments
6. Appendix 2 - Cancellation Form: Standard form for cancelling auto payment authorization
7. Appendix 3 - Dispute Resolution Procedure: Detailed process for handling payment disputes
Authors
Relevant legal definitions
Clauses
Relevant Industries
Banking & Financial Services
Insurance
Telecommunications
Utilities
Digital Subscriptions
Education
Healthcare
Real Estate
E-commerce
Software as a Service
Entertainment & Media
Fitness & Wellness
Relevant Teams
Legal
Compliance
Finance
Accounts Receivable
Business Development
Product Management
Operations
Risk Management
Customer Service
Information Technology
Security
Payment Processing
Billing
Relevant Roles
Legal Counsel
Compliance Officer
Finance Manager
Accounts Receivable Manager
Business Development Manager
Product Manager
Operations Manager
Risk Manager
Customer Service Manager
IT Security Manager
Payment Solutions Architect
Subscription Manager
Billing Coordinator
Contract Administrator
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