CrowdPay™ Automated Bill Pay Agreement
Decreasing Cost of Living Rider
This Decreasing Cost of Living Rider (“Rider”) is entered into on ___________, by and between: PāyZero® Inc., dba PāyZero® Credit Agency, and Consumer Advocacy, hereinafter referred to as the “Provider”, and ________________________hereinafter referred to as the “Client”
Background: The Provider and the Client have entered into a Decreasing Cost of Living Rider dated ________, governing the provision of Automated Bill Pay Services (the “Original Agreement”).
Amendment: This Rider hereby amends and supplements the Original Agreement as follows:
- Automated Bill Pay Services: (a) The Provider agrees to offer automated bill pay services to the Client as specified in Exhibit A attached hereto.
(b) The Client agrees to authorize and enable automated bill payments from their designated account, details of which are provided in Exhibit A.
- Decreasing Cost of Living Rider: (a) If the Client chooses the Decreasing Cost of Living Rider, PāyZero® will make you the beneficiary of a Bill Pay Trust Fund and use the proceeds of a checking account related to the Bill Pay Trust Fund to offset the cost of the Client’s monthly household expenses.
(b) Each year, starting from the 13th month of using CrowdPay™, PāyZero® Inc. will draft a 25% lower amount of money per week from the Client’s CrowdPay™ Account and pay all household bills and expenses in full and on time, saving the Client an additional 25%. This reduction increases to 50% over a 36-month period.
(c) Once the 100% reduction is reached, PāyZero® Inc. will no longer draft funds from the Client’s CrowdPay™ Account to pay monthly household expenses. PāyZero® Inc. will instead, access the Bill Pay Trust Fund and continue to pay all household bills and expenses in full and on time as long as the Client continues to use the CrowdPay™.
- Billing Information: (a) The Client shall provide accurate and up-to-date billing information, including bank account details, necessary for the automated bill pay services.
(b) The Provider shall use reasonable efforts to ensure the confidentiality and security of the Client’s billing information.
- Payment Authorization: (a) The Client authorizes the Provider to initiate automated bill payments in accordance with the billing information provided.
(b) The Client is responsible for ensuring sufficient funds are available in the designated account to cover automated bill payments.
- No Fees: (a) There are no fees or charges associated with the automated bill pay services provided by the Provider.
(b) The Client is not required to pay any additional charges for the Decreasing Cost of Living Rider.
- Term and Termination: (a) This Rider shall be effective upon the date of execution and shall continue in conjunction with the Original Agreement.
(b) Either party may terminate this Rider in accordance with the termination provisions of the Original Agreement.
- Governing Law: This Rider shall be governed by and construed in accordance with the laws of [Jurisdiction], without regard to its conflict of laws principles.
- Entire Agreement: This Rider, along with the Original Agreement and any attached exhibits, constitutes the entire agreement between the parties concerning the subject matter hereof.
IN WITNESS WHEREOF, the parties hereto have executed this Automated Bill Pay Agreement Contract Rider as of the Effective Date.
PāyZero® Incorporated
Officer Name__________________________________
Corporate Title_________________________________
Authorized Signature_____________________________ Date_____________
Client/Affiliate Name___________________________________
Authorized Signature_____________________________ Date_____________
Exhibits: Exhibit A – Automated Bill Pay Services Details Exhibit B – Fee Schedule