DIRECT OR "AUTOMATIC" DEBIT PAYMENT OF YOUR ASSOCIATION DUES

Direct debit is a convenient and efficient mechanism for you to make your regular association assessment payments. It will reduce your time and effort put in to writing checks. It is the best way to insure that your payment is received on time and it will take away your worry about the weather, postal delays, holidays, vacations and other unexpected circumstances.

Not all Vanguard clients participate in the direct debit payment option. Below are listed the client associations that accept direct debit payments:

If you wish to participate in this payment method, please download/print the "Direct Debit Authorization Form". The form must be completed and returned to Vanguard Management BY REGULAR MAIL (NO FAXES PLEASE) accompanied by a voided personal check for the account from which your assessment payments are to come. It is very important that you provide the correct ABA Routing Number. Therefore, we would encourage you to consult your bank to insure that you use the correct number.

You are encouraged to read the
DIRECT DEBIT PAYMENT AUTHORIZATION AGREEMENT
carefully before submitting it.

If your completed application, accompanied by a voided personal check for the account from which your assessment payments are to come, is received by the 10th of a month your first direct debit will occur the following month. Once your application has been processed you will receive a postcard with the status and expected start date for this payment option.

Frequently Asked Questions (FAQs) About Direct Debit:

Q. How do I know if my banking institution will provide for direct withdrawals from my account?

A. Simply ask your bank. Certainly, when you complete the paperwork to enroll in the program, Vanguard Management will verify that your banking institution will honor automatic payment instructions.


Q. When would the regular payments be taken from my account? What amount?

A. The withdrawal will be made from your account between the 2nd and 5th day of each month (or each quarter, as applicable) as determined by your association. Only the total regular assessments are withdrawn.


Q. How long will it take to get started?

A. As long as your completed form is received by the 10th of the month, direct debit can commence the following month. This procedure will also apply if you want to change the bank account from which your assessment is withdrawn.


Q. If I want to discontinue my participation, how do I stop direct debit?

A. You must request cancellation, in writing, to Vanguard Management. Your request must be received no later than the 10th day of the month to discontinue direct debit for the following month. This procedure will also apply if you are changing banks or bank accounts, unless your new bank information was submitted by the 10th of the month as described in the Q&A above.


Q. If there are insufficient funds in my account on the 2nd, but okay on the 3rd, am I subject to insufficient fund charges?

A. Yes, if there are not sufficient funds in your account on the day that the direct debit is transmitted, it is just like a returned check from the bank indicating ?NSF? (insufficient funds). You will be required to promptly pay the return check fee and the amount of the return check before you may begin the direct debit program again. You will be ineligible to continue in the direct debit program if you have two (2) insufficient funds ("NSF") returns.


Q. Are disputed balances protected from direct debit?

A. Yes, direct debit will only withdraw monthly and/or quarterly fees. However, your account balance must be zero (-0-) to initiate direct debit.


Q. Will I need to notify my bank if there is an increase in Association assessments for a new fiscal year?
A. No, direct debit will automatically withdraw the correct amount, but you will need to be aware of the increased amount that will be withdrawn from your account.