Electronic Funds Transfer (EFT) Application Form

A vendor can use this form to request that payment of amounts owing from The Corporation of the Municipality of South Huron be deposited directly into a bank account. A payment notification with payment details will be sent by email. It is recommended that the email account used for the payment notification be a secured generic account that will not be affected by staff changes within your organization. To be considered for enrollment, all fields must be properly filled in on this application and returned with proper supporting documents as set out below. Our Accounts Payable department requires at least 7 business days’ notice to add or process changes to banking information, email addresses, or to cancel the use of direct deposit.

Electronic Funds Transfer (EFT) Policy

• The Municipality of South Huron is committed to establishing controls and procedures for the payment of vendor invoices through the use of EFT.
• All payments made by the Municipality of South Huron shall be made by EFT except in the following situations:
  • Payment of refundable deposits (Building / Developer);
  • Payment of utilities (pre-authorized payments (PAP))
  • As deemed desirable by the Treasurer
• This policy applies to all vendors registering for EFT payment of invoices with the Municipality of South Huron.
• The vendor is required to provide the Municipality of South Huron with the information required to complete the EFT payment.
• In the event that the vendor’s EFT information changes, the vendor shall be responsible for providing forthwith the updated information to the Municipality of South Huron. Updates to a vendor’s EFT information should be communicated to the Municipality through South Huron’s Electronic Funds Transfer (EFT) Application Form.
• The Municipality of South Huron shall have seven (7) business days within which to update the changed EFT information after its receipt by the Municipality of South Huron.
• A vendor may request that EFT payments be suspended until the EFT information update is implemented by the Municipality of South Huron. If such suspension would result in a late payment under any payment terms of the contract, the vendor’s request for suspension shall extend the due date for the payment by the number of days of the suspension.
• If an uncompleted or erroneous transfer occurs because the Municipality of South Huron used the vendor’s information incorrectly, the Municipality of South Huron remains responsible for making the correct payment.
• If an uncompleted or erroneous transfer occurs because the vendor’s EFT information was incorrect, or was revised within seven (7) business days of the Municipality of South Huron’s release of the EFT payment transaction instruction, and;
  • If the funds are no longer under the control of the Municipality of South Huron’s Treasury Department, the Municipality of South Huron is deemed to have made payment and the vendor is responsible for recovery of any erroneously directed funds; or
  • If the funds remain under the control of the Treasury Department, the Municipality of South Huron shall not make the EFT payment and payments to the vendor shall be suspended until the updated EFT information has been received by the Municipality of South Huron. If such suspension would result in a late payment under any payment terms of the contract, the EFT payment suspension shall extend the due date for the payment by the number of days of the suspension.
• A payment shall be deemed to have been made in a timely manner in accordance with the payment terms if, in the Municipality of South Huron’s EFT payment transaction instructions released to its financial institution, the date specified for settlement of the payment is on or before the due date of the payment under the terms of the contract, provided the specified payment date is a valid date when the Municipality of South Huron’s financial institution is open for business.
• The Municipality of South Huron will not be liable for any loss occurring after the deposit has been made to the identified bank account.
• Any duplicate payment, overpayment, fraudulent payment or payment made in error will be promptly returned to the Corporation of the Municipality of South Huron.
• The procedures to initiate an EFT are subject to the same financial policies, procedures and controls that govern disbursements by any other payment mechanism.