Parties Identified
Full legal names and entity types for payer and payee, including contact and remittance addresses.
A clear Legal Direct Pay Agreement reduces ambiguity about who pays, when, and how, protecting both payer and payee and simplifying dispute resolution.
The document helps ensure parties understand payment triggers, authorization limits, and recordkeeping responsibilities before funds move.
Full legal names and entity types for payer and payee, including contact and remittance addresses.
Specify amounts, frequency, payment method (ACH, wire, check), currency, and any invoicing or approval conditions.
Define who may instruct payments, daily or per-transaction limits, and whether authorizations are revocable.
Describe required authentication (two-factor, bank mandates), account verification, and any escrow or holdback arrangements.
State late payment interest, cure periods, setoff rights, and collection cost allocation on default.
Specify governing state law, venue for disputes, and how notices and amendments must be delivered.
| Field | Configuration |
|---|---|
| Authentication Level | Email + SMS code or bank KBA for higher-value transactions |
| Signature Type | Audit-trail e-signature or PKI-based digital signature if required |
| Document Template | Reusable agreement with conditional fields for payment method |
| Notification Rules | Automated alerts for upcoming payments and failed transfers |
Choose a platform that can produce reproducible records and meet any industry-specific compliance such as HIPAA or 21 CFR Part 11 when applicable.
Set by agreement; used to compute notice periods and statute windows
Specify notice period for cancellation of authorization
Allow 1–5 business days for ACH and same-day for wires, per bank rules
Provide needed payee info on request to meet IRS requirements
Retain executed agreements per applicable retention rules
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