The Canadian Payments Association (CPA) has recently published a revised version of Rule H1 – Pre-authorized Debits (PADs), which sets out revised clearing requirements for these transactions. The changes include standardization of PAD agreements including mandatory fields, a new framework to permit remote/electronic authorizations, and amendments to the Notice of Change process to provide an efficient way of making changes to the account from which a PAD is drawn. A transition period will be in effect until February 10, 2010 to allow financial institutions and payees sufficient time to make the necessary changes. The CPA is offering a 90 minute “webinar” on Rule H1 for the insurance sector on Wednesday, October 1 from 1:30 – 3:00 p.m. Eastern Time.