This checklist is aimed at in-house counsel and compliance professionals who may be advising business owners or performing the relevant recurring payment checks.As subscription-based business models gain momentum, recurring payments have become the core of some businesses’ revenue generation and customer relationships. Recurring payments are automatically processed on a pre-determined and agreed schedule. Customers will typically give permission for a business to regularly charge their credit card or debit their bank account for products or services. Both parties benefit by being aware of when payments fall due, businesses have better cash flow, and customers no longer need to remember when to manually process a payment.This checklist provides guidance about the nature of recurring payments and how they work and considers the steps a business should review when deciding whether to implement recurrent payments into their operations. Proper implementation and understanding of how recurring payments work and how to incorporate recurring payments into business practice is essential.
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