Duuo Payment Agreement

Effective Date: June 13, 2023

Last Updated Date: June 13, 2023


By opting into this Payment Agreement during the online purchasing process, you, as the policyholder, are entering into this Agreement with Duuo Insurance Services Inc., a corporation duly organized under the laws of Canada, with its principal place of business located at 1400 One York Street, Toronto, ON, M5J 0B6 (“Company”). 


  1. Agreement to Pay and Payment Methods

By proceeding with the online purchasing process, you authorize the Company to store your chosen payment method’s information (credit card/bank account), as it may be updated from time to time (the “Stored Credential”/the “Account”). You permit the associated financial institution to process transactions made by the Company. The Company will make recurring charges/withdrawals for amounts you authorize from time to time and, if necessary, initiate adjustments for any transactions. 

The Company will charge/debit the Stored Credential/Account with the total term premium, plus taxes if applicable, according to the payment frequency you select or selected. The current amount of your total term premium will be shown on your account statement. You understand that the amounts charged/debited may vary if changes occur to your policy premium. 

If there are changes to your banking information, you agree to notify us at least ten (10) days before your next withdrawal date to ensure that your insurance coverage is not interrupted.  

Your withdrawal amount may change due to: 

When the actual policy premium is determined 

If you make policy changes 

If your renewal premium changes 

If a service fee has been charged 

If your premium goes down due to a policy change you make during our insurance term, a credit will be applied to your remaining payments. A refund will be issued if there are no remaining payments. 

In the case of bank withdrawals, if your financial institution indicates non-sufficient funds (NSF), the Company may attempt another account withdrawal approximately seven (7) days later. If the second withdrawal attempt also indicates NSF, an NSF fee may be charged to the Account in addition to your regular payment.

Repeated NSF payments may result in the termination of your insurance policy. In that event, you would receive an invoice for the full amount remaining for the rest of your policy. If your policy is cancelled and you decide to reapply for insurance coverage with us, you will need to pay any past-due service fees. 


  1. Your Acknowledgment and Authorization

By proceeding with the online purchasing process, you confirm that: 

  • Your payment information is accurate. You will update this information via your online account or otherwise notify the Company in advance of your next scheduled payment date should it change. 
  • This agreement stands should you change your payment method to a new credit card or bank account. 
  • This authorization is continuous and will automatically apply to the renewal terms of your policy unless the Company is instructed differently. 
  • You commit to having the necessary funds available to cover the amount of the payments due to the Company. 
  • You may dispute any account discrepancies by providing a signed declaration to your financial institution within 90 days of the withdrawal date. 
  • You are responsible for service fees charged by your bank or other institutions. 
  • You waive the right to receive further notifications regarding scheduled payments. 


  1. Cancellation and Refunds

If you decide to cancel your insurance policy, withdrawals will continue until all amounts owing are paid. We require a ten (10) day notice to process your request.  

To obtain a cancellation form or more information on your right to cancel a Pre-Authorized Debit (PAD) agreement, contact your financial institution or visit https://www.payments.ca/.  

If you cancel your withdrawals, you agree to pay all amounts owing to us for your insurance policy. Cancelling your withdrawals does not mean that you have cancelled your policy. 

We will issue a refund in the form of a digital refund to the original payment method for any amount over $1. 


  1. Duration of Agreement

This Agreement will expire when both: (i) you no longer have a policy with the Company and (ii) full payment of your balance has been received by the Company. If you have an outstanding balance with the Company, this Agreement will remain in effect whether or not you have a policy with the Company. However, if your policy expires or is cancelled and is subsequently reinstated for any reason, this Agreement will be deemed not to have expired and to have remained in full force and effect as though you continuously had a policy with the Company. 


  1. Compliance with Laws and Recourse

Both parties agree to comply with all applicable laws, regulations, and rules relating to this Agreement. If you believe your pre-authorized payments do not comply with the terms of this Agreement, you have the right to pursue reimbursement. Learn more  by contacting your financial institution or by visiting Payments Canada: https://www.payments.ca/. 


  1. Amendments

The Company may make changes to this Agreement by providing you with 30 days prior written notice. 

By agreeing to this Recurring Payment Agreement during the online purchasing process, you acknowledge that this Agreement applies to all payments made for insurance coverage to the Company.