A Payment Authorization Form is a document that is signed by a payee which allows a company to charge them (or their credit or debit card) recurring payments for a fixed amount of time as outlined by the agreement in the document. This is extremely convenient for businesses as they have the permission to charge a fixed sum on a continuous basis. This permission can be weekly, monthly, or quarterly depending on the agreement.
A Payment Authorization Form template can be downloaded through the link below. A related form - Credit Card Authorization Form - can be downloaded through this link. Both documents typically include the payee's payment information, information about the company, a billing address, and the name, date, and signature of the payee.
They also protect a company from chargebacks, when a customer can simply contact their bank and have the transaction reversed if they have changed their mind which can prove a big problem for businesses. Such a document offers protection against these cases and should the customer decide to try and do this, the chances of the company winning a legal battle are very high.
Not what you need? Check out these related topics:
Credit Authorization Form Accounts Payable and Receivable Bookkeeping Payment Authorization Form General Business Forms Business
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