Monthly Agreements Sample Clauses

Monthly Agreements. Contributions are payable on the due date (normally the first business day of the month) and the Company is obliged to give you a 15 (fifteen) day period of grace. In respect of monthly agreements, the Company will extend this period by re-submitting the debit order for the outstanding amount within 7 (seven) days from the failed debit. If the second debit order fails, your Agreement will automatically lapse from the last day of the month for which the contribution was received. The Company will, however, do all they can to retain your Agreement by contacting your intermediary within the first month following a failed debit.