Pre-Authorized Debit Terms and Conditions

The person granting the Pre-Authorized Debit (PAD) shall hereinafter be referred to as the Payor.

The entity making the PAD is TOLCO Financial $trategies shall hereinafter be referred to as the Payee.

The form signed by the Payor granting the PAD shall hereinafter be referred to as the Agreement.

The Payor acknowleges the Pre-Authorized Withdrawal Approval is provided for the benefits of both the Payor and the Payee and is provided on the understanding the financial institution of both the Payor and the Payee agree to process such electronic payments in accordance with the rules of the Canadian Payments Association. The Payor and Payee agree to waive the pre-notification requirement set out in Section 11 of Appendix II of rule H1 of the Canadian Payments Association.

The Payor warrant and guarantee that all persons whose signatures are required to sign on the Payor account have signed the Agreement and agree to these terms and conditions.

The Payor hereby authorizes the Payee to draw on the Payor account according to the Agreement.

The Payor undertake to inform the Payor in writing or by way of Internet update of any change in the account information provided in the Agreementten (10) business days prior to the next due date of the PAD.

A PAD may be disputed by a Payor under the following conditions:

1. the PAD was not drawn in accordance with the Payor's authorization; or
2. the authorization was revoked; or
3. pre-notification was not received.

The Payor in order to be reimbursed, acknowleges that a declaration to the efeect the either (1), (2) or (3) took place must be completed and presented to the branch of the processing institution holding the Payor's account up to and including ten 10) days after the date on which the PAD in dispute was posted to the Payor's account. The Payor acknowledges that a claim on the basis that the Payor's Authorization was revoked, or any other reason, is a matter to be resolved solely between the Payee and the Payor when disputing any PAD.

The Payor acknowledges:

1. the Processing Institution is not required to verify that a PAD has been issued in accordance with the particulars of the Payor's Authorization including, but not limited to, the amount;
2. the Processing Institution is not required to verify that any purpose of payment for which the PAD was issued has been fulfilled by the Payee as a condition to honouring a PAD issued or caused to be issued by the Payee on the Payor account.

Revocation of this authorization does not terminate any contract for goods or services that exists between the Payor and the Payee. The Payor's Authorization applies only to the method of payment and does not otherwise have any bearing on the contract for goods or services exchanged.