PAD definition
Examples of PAD in a sentence
Examples of automatic payments that can be arranged by you either with a seller or with PayPal include those that PayPal calls a "billing agreement," "subscription," "recurring payment," "reference transaction," "preauthorized debit or PAD", "preauthorized transfer" or "preapproved payment." You may cancel an automatic payment up to 3 Business Days before the date of the next scheduled payment from your account settings or by contacting us through the PayPal Help Centre.
The foregoing provisions do not give the Depositor any right to overdraw the Account or to authorize or permit anything, including a PAD or a Transaction authorized through a Debit Card, that would result in a negative balance in the Account.
This type of transaction is sometimes called a "billing agreement," "subscription," "recurring payment," "reference transaction," "preauthorized debit or PAD", "preauthorized transfer, "pre-approved payment " or "automatic payment." You must: You must not: Get each buyer's prior authorization for the amount, frequency, and duration of any such payment.
For example, I have the right to receive reimbursement for any debit that is not authorized or is not consistent with this PAD Agreement.
The foregoing provisions do not give the Depositor any right to overdraw an Account or to authorize or permit anything, including a PAD or a Transaction authorized through a Debit Card, that would result in a negative balance in the Account.