By signing this Client Authorization to debit/credit, Client authorizes OCMI VI, Inc., d/b/a COMPEO and its
Financial Institutions/ Automated Clearing House (ACH) agents to originate debits to Client’s account at
frequent intervals for varying amounts to process automatic, to credit and debit entries and/or correct
inadvertent duplicates and/or erroneous credit/debit information associated with the account specified below
and
any other COMPEO service agreements. It is acknowledged and accepted that COMPEO may debit Client’s account
within five (5) days or less of Client incurring an obligation to COMPEO. The term of this agreement shall
coincide with, and be in congruence with, the term of other COMPEO service agreements. This agreement applies
to
any Client bank specified by the Client at any time while utilizing COMPEO services.
Client’s Current Bank Account to be used to fund fees and related transactions pursuant to the Professional Employer Service Agreement:
This signed agreement may be considered as an application for credit, and therefore authorizes COMPEO and its
agents to investigate the credit of the Client named in this document and its principals. Credit Checks
involve
checking with vendors, references, and Client bank to verify status, history and other applicable credit
information.
Client acknowledges that it must be accepted for ACH services upon verification and approval of Client’s
credit
information. COMPEO reserves the right to refuse ACH services to any Client or client.
Client acknowledges that they shall utilize the services of COMPEO and its agents for the purposes of
transferring funds through ACH in accordance to the rules of the National Automated Clearing House Association
(NACHA), the laws of Florida and any applicable state, and all the applicable federal rules and regulations
for
various purposes that include, but are not limited to: direct deposit distribution of the Client’s employee
payroll funds, flexible benefit plans, taxes, child support, or any other applicable reason that the Client
may
desire to transfer funds electronically through ACH.
IMPORTANT: Client is responsible to have all necessary funds on hand and fully fund all ACH transmissions
processed by COMPEO on Client’s behalf.
Client is responsible for any and all losses, liabilities and related recovery expenses that may occur due to
incorrect data, rejected transfers, insufficient funds, unlawful activity and any unauthorized ACH
transmissions.
Client acknowledges that if sufficient funds are not available by the date required pursuant to this
agreement,
(1) Client will immediately become solely responsible for all tax deposits and filings, all employee wages,
all
wage garnishments, and all related penalties and interest due then and thereafter, (2) any and all COMPEO
services may, at COMPEO’s option, be immediately terminated, (3) neither Bank nor COMPEO will have any further
obligation to Client or any third party with respect to any such services, and (4) COMPEO may take such action
as it deems appropriate to collect COMPEO’s services fees pursuant to the Professional Employer
ServiceAgreement
between the parties.
I, an authorized representative of Client and on behalf of Client, authorize COMPEO and its agents to initiate
ACH credits and debits from all accounts indicated by my company for payroll and related processing services.
Client is responsible to provide to COMPEO all data necessary for processing of all ACH transactions. Client
is
responsible for ensuring that all employees understand their responsibilities as they relate to ACH as per
COMPEO Employee Authorization Form provided.
