Direct Debit Financing & ACH Mandate Terms
Effective Standard: 2019 • Governed by Tiny Container House Inc. & Federal Electronic Fund Transfer Act
1. Electronic Fund Transfer Authorization (ACH)
By completing the digital financing step and providing your bank name, routing number (ABA), and account number, you authorize Tiny Container House Inc. and its designated clearing depository institution to initiate recurring electronic debit entries to your designated checking or savings account.
This authorization is executed in accordance with the National Automated Clearing House Association (NACHA) Operating Rules and the Electronic Signatures in Global and National Commerce Act (ESIGN).
2. Post-Installation Payment Commencement
Strict Customer Safeguard Rule:
Zero payments will be debited during factory manufacturing, logistics transit, or crane placement. Your first monthly installment will be debited exactly thirty (30) days AFTER your final on-site physical inspection and signed execution of the Certificate of Delivery Acceptance.
3. Fixed Rate & Predictable Amortization
All buyer loans originated under the Tiny Container House marketplace are fixed-rate financing contracts:
- Fixed APR: Fixed interest rate locked at 8.99% per annum across all approved terms.
- Amortization Terms: Flexible payback schedules selectable from 36, 60, 84, or 120 months.
- Zero Prepayment Penalties: You may make extra principal payments or settle the full outstanding loan balance at any time with zero penalty fees.
4. Electronic Notification & Schedule
Under NACHA regulations, you will receive an automated electronic statement ten (10) days prior to the first scheduled debit, outlining the exact date, transaction reference, and dollar amount. If the scheduled debit date falls on a weekend or federal banking holiday, the entry will be submitted on the next immediate business day.
5. Revocation & Account Modification
You maintain the legal right to revoke or update your direct debit banking details at any time by providing written notice to our servicing team at least three (3) business days prior to your scheduled debit date:
Tiny House on Kentucky Ave. LLC — Servicing & ACH Desk
Operating Tiny Container House • Entity ID: 001-217-072 (Alabama, USA)
Registered Office: 4100 Brook Way, Birmingham, AL 35213 (Agent: Shannon A. Powell)
Email: [email protected]