PADS Clause Samples
The PADS clause establishes the requirements and procedures for the use of Pre-Approved Design Submissions (PADS) within a project. It typically outlines the process by which certain design elements or documents are submitted for pre-approval, specifying the standards they must meet and the timeline for review and feedback. For example, a contractor may be required to submit detailed drawings or specifications for approval before proceeding with construction. The core function of this clause is to streamline the design approval process, reduce delays, and ensure that all parties are aligned on key design aspects before work progresses, thereby minimizing the risk of costly rework or disputes later in the project.
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PADS. If the Depositor has authorized PADs to be issued against any of the Accounts, the Depositor acknowledges that the Rules provide that under specified conditions, claims for reimbursement of PADs may be made and:
a) where the purpose of the PAD was for payment of consumer goods and services, the time period for making such a claim is 90 calendar days from the date of debiting, and
b) where the purpose of the PAD was for payment of goods and services related to commercial activities of the Depositor, the time period for making such a claim is 10 business days from the date of debiting. Claims must be made in writing to the Credit Union within the specified time period and in compliance with the Rules.
PADS. If the Depositor has authorized PADs to be issued against the Account, the Depositor acknowledges that the Rules provide that under specified conditions claims for reimbursement of PADs may be made and:
a) where the purpose of the PAD was for payment of goods and services related to the commercial activities of the Depositor, the time period for making a claim is ten business days from the date of debiting,
b) the Depositor may not receive the statement of account for the Account before the ten-business-day period expires and the Credit Union is not obliged to otherwise notify the Depositor of PADs debited to the Account, and
c) after the ten-business-day period expires, and whether or not the Depositor has been notified of the PAD being debited to the Account, the Depositor must resolve any dispute directly with the payee – the Credit Union will not be required to reimburse the Depositor for the amount of such PAD, notwithstanding any other provision of this Agreement. The Depositor is responsible for PADs authorized by it, and agrees:
a) to release and discharge the Credit Union from any and all claims and demands (except claims for reimbursement made within the ten-business-day period) in respect of PADs issued against the Account, and
b) to indemnify and save the Credit Union harmless, from and against, all liability, cost, damages, and expenses incurred by the Credit Union in connection therewith. The above indemnity enures to the benefit of the Credit Union and will be binding upon the Depositor and the Depositor's successors and assigns.
PADS. The project was successfully implemented in May 1995 and is still running with minimal maintenance by one part-time DMH employee.