Direct Debit Agreement Our Company agrees to pay Edward Don & Company (DON) by electronic funds transfer and hereby authorizes DON or its designated representative to periodically debit the undersigned bank account(s) in line with payment terms provided by DON. It is acknowledged that DON will have no authority to draw upon the bank accounts of the undersigned at any time prior to the due date based on your payment terms as indicated on your invoice or purchase agreement. In no event will DON be authorized to withdraw any amounts in excess of the net invoice amount. Credits due and identified at the time of delivery will also be applied to the invoice prior to initiating the debit. This agreement may be revoked by the undersigned or DON upon 30 days written notice to either party. This agreement may be revoked immediately by DON upon notification that any charge due has not been paid due to insufficient funds or is paid but reversed by any bank of the undersigned. This agreement will terminate automatically upon the closing of the bank account(s) from which withdrawals are to be made or upon notice to DON of the undersigned’s bankruptcy. The undersigned agrees to provide a copy of this agreement to its bank or other depository from which the direct debits are to be made and shall request such bank to cooperate with DON in the payment of all charges.
The agreement shall be governed by and in accordance with the laws of the state of Illinois.
Any notices required shall be given in writing to the party below:
To: Edward Don & Company Attention: John Fahey, Managing Director - Credit
9801 Adam Don Parkway Woodridge, Illinois 60517 (708) 883-8362
To the undersigned: Customer Name:
Customer Number:
Street:
City, State, Zip:
Phone:
In witness whereof, the undersigned has executed this agreement effective this
day of
, 20
.
Name of Depositor : _______________________________________
Bank Name: _________________________________ Bank Account Number: ________________________________________ Bank Routing Number: ________________________________________
By:
Title:
Edward Don & Company, 9801 Adam Don Parkway, Woodridge, Il 60517
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