Define: Auto Debit
Auto Debit means a process permitting automatic scheduled transfers of [amount] from a [account type] to satisfy [payment type]
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
Auto Debit means a process permitting automatic scheduled transfers of [amount] from a [account type] to satisfy [payment type].
Relevant Circumstances
- Payment of subscription-based services
- Scheduled repayment plans for loans
- Regular payment for freelancing or contracted services