Standing Order Agreement Template

A standing order is an automated payment method in which a person or company orders their bank to pay a fixed amount of money to another person or company at regular (fixed) intervals. The payer controls the standing order; You install it yourself and choose the quantity and frequency. Customers who use standing orders enjoy a certain degree of consumer protection. For example, if a person makes a fraudulent standing order from their account, the bank must make an immediate refund as soon as they are informed of the problem. If you set up a new standing order with your bank, you have the option to indicate the duration of recurring payments. This can be monthly, weekly or something you prefer. .