AGREEMENT AND PAYMENT

This document describes the engagement agreement and payment plan you will enter into to use Levanto Financial Inc.’s products and services.

HOW DOES IT WORK?

Levanto Financial will pay bills on your behalf, based on your Cash Flow Plan, on an ad hoc basis. We only have authorization to pay bills you have approved, and only from your Bill Pay Account. Your Bill Pay Account is a checking account set up at a bank of your choosing, which will need to remain funded for us to pay bills from. This account will always be under your sole ownership and control.

Levanto will monitor the account you designate as a Bill Pay Account. We monitor this to ensure you have the funds necessary to issue payments to your creditors for your periodic bills, and to reconcile all transactions made within that account.

Your Levanto Bill Pay Account will be the account which you and Levanto Financial manage according to your Cash Flow Plan (see attachment). Provided you have sufficient funds available in this account, Levanto will issue payments for your expenses.

Automatic Withdrawals

Levanto does not have the authority to stop any automatic withdrawals out of your Levanto Bill Pay Account. If there are any transactions that occur in your Levanto Bill Pay Account, and are not in your Cash Flow Plan, you will be notified by Levanto. It is solely your responsibility to inform Levanto of any transactions that will take place and to stop any transactions which are not approved within this agreement.

Third Party Providers

Levanto Financial will assist you with setting up the third party providers, such as a payment service firm, that are necessary to manage your account. These providers will allow Levanto to view your Levanto Bill Pay Account, receive your bills and issue payment out to your approved payees. You will have access to the provider(s) that Levanto uses during your relationship with Levanto and thereafter.

 

TERMS OF SERVICE:

Levanto Financial, Inc. (“Levanto”) will act on your instructions, subject to the terms in this agreement. If you wish to make any alterations to your Cash Flow Plan, you must notify Levanto. If we do not receive instructions to alter your Cash Flow Plan, we (or third party service providers) will make payments on your behalf in accordance with your Cash Flow Plan and Bill Pay instructions. Should there be insufficient funds in your Levanto Bill Pay Account to make all required payments; Levanto will follow your pre-authorized instructions to prioritize the available funds.

Your Cash Flow Plan changes continually because, for example, utility bills vary each month, loans and arrears get paid off and overdue bills are retired. Levanto shall constantly review your Cash Flow to ensure the integrity of the plan remains intact.

Errors/Disputes and Resolutions

You must notify Levanto promptly if there is an error in the payment of an account or if an unauthorized or mistaken transaction payment is made. You must notify Levanto in writing, by email or by contacting our offices. It is essential that you give Levanto as much information as you have to help Levanto to resolve your concern and provide Levanto with sufficient time to remedy your concern. You authorize Levanto to monitor and record your calls to for training and verification purposes.

Termination

You can terminate this agreement for any reason by giving Levanto 30 days’ notice in writing provided that the establishment fee is paid in full. If you request termination of this agreement prior to the establishment fee being paid in full, the account administration fee will remain payable by you until such time that the establishment fee is fully repaid.

Levanto can terminate this agreement for any reason by giving you 30 days’ notice in writing. If your establishment fee is not paid in full at the time of notice of termination by Levanto, the outstanding balance will become immediately due and payable by you and the account administration fee will remain payable by you until such time that the establishment fee is fully repaid.

Levanto can only make bill payments on your behalf if your Bill Pay Account is sufficiently funded. If Levanto is unable to make bill payments due to an underfunded Bill Pay Account, Levanto may terminate this agreement immediately at its sole discretion, and any outstanding fees will be payable in full.

If you currently have direct debit payments being taken from any bank account please read this carefully:

Levanto is not authorized to change details that you have previously provided to a creditor who direct debits your bank account. If you wish to cancel a direct debit, please ensure that you contact any creditor that direct debits your bank account and check to see whether they accept payment by another method other than by direct debit. You authorize Levanto to pay your creditors by check, electronic funds transfer or direct bank credit. Levanto prefers payment by electronic funds transfer or direct credit, so that your creditors receive the funds quickly. If you do cancel a direct debit, please notify Levanto of your new payment details.

Limitation of Liability

Other than any responsibilities implied by law which cannot be excluded, Levanto’s liability for any losses of any kind including consequential losses, fines, penalties and expenses of any kind incurred are limited to the amount of actual loss to you such as the penalty interest charged or late/overdraft fee incurred. Levanto will not be liable and to the maximum extent permitted by applicable law you agree to release and hold harmless Levanto for any losses of any kind (including, without limitation, consequential, incidental, punitive or exemplary damages, fines, penalties and expenses) as a result of a missed payment or service failure: (1) any information provided by you is incorrect or misstated; or (2) any of your creditors do not agree to a proposed payment plan that your third party service provider proposes; or (3) your Levanto Bill Pay Account is underfunded; or a combination of the aforementioned.

License

Levanto is not a registered investment advisor, insurance broker, tax accountant, lawyer, or bank. Therefore, Levanto cannot provide you advice outside the scope of household financial planning, budgeting, cash flow, and bill pay.

Contacting Your Creditors

Please be aware that Levanto cannot contact your creditors until such time you have provided their payment details. Your creditors and service providers may from time to time request personal details and relevant information including a payment schedule detailing the disbursement of funds to all parties. You authorize Levanto to supply this information, when applicable, to third party service providers and creditors to assist their negotiation process. The exchange of information allows your creditors to clearly understand your financial circumstances.

Mail You Send In

Utility bills and account statements may still come to you and you will simply need to check them and forward them to Levanto (or identified third party processor) for payment from your Levanto Bill Pay Account. If the bill is less than or equal to what you have planned for, you can mail, email, fax or phone the details to Levanto. If the bill is more than you have forecasted for, you will be required to phone the details to Levanto so that adjustments to other payments in your Cash Flow Plan can be made. If Levanto receives a bill in the mail for an amount more than has been forecasted for in your Cash Flow Plan, and it is determined that it may not be able to be paid by the due date then Levanto may enter the details into its systems and send the bill back to you requesting that you phone Levanto to discuss your Cash Flow Plan.

After we have entered your bill details into Levanto’s system, the original document will be returned to you or destroyed based on your direction. If you require copies of your bills, then you should copy them before mailing them to Levanto or retain the bill and phone or email the details to our office. Please see your agreement with third party payment service for information about their client web portal and archiving (for copies of your bills).

Scanning and Storing of Records

You authorize Levanto (and its third party processor) to scan, store and hold in electronic file all copies of signed agreements and various correspondence received by Levanto from you from time to time. You acknowledge that Levanto does not hold original documentation once it has been scanned and archived.

Levanto reserves the right to amend the terms of your Levanto Service from time to time. Levanto shall give you 30 days’ notice in writing of such changes which could include (but is not limited to) changes in fees. You authorize Levanto to implement the changes after 30 days’ written notice has been sent to you.

 

PAYMENT:

Ongoing Monthly Administration Fee: $ 200.00

This covers the cost of Levanto consistently monitoring your Cash Flow Plan and proactively working with you to maintain current bill payments. This also covers our cost associated with the ongoing payment of your bills, additional payees you add to your program and for future consultations with Levanto’s financial coaches. This fee will be paid out of your Levanto Bill Pay Account on a semi-monthly basis. Levanto will be set-up and approved as one of your payees with the third party payment service provider we choose. Any costs associated with using third party tools are included in the Administration Fee.

 

Please acknowledge your agreement to Levanto’s Terms of Service and Payment Plan by entering your payment details below. We look forward to working closely with you to achieve your personal financial goals.