Terms of Service (Electronic Payments)
Bostwood Estates Homeowners Association Electronic Payment Terms of Service
Effective Date: July 1, 2025
Last Updated: July 1, 2025
These Electronic Payment Terms of Service ("Terms") govern the use of electronic payment services provided by or on behalf of the Bostwood Estates Homeowners Association (“HOA," "we," "our," or "us") for the payment of dues, assessments, and other charges owed by members ("you" or "Homeowner").
By using our electronic payment system, you agree to be bound by these Terms, as well as any other applicable governing documents of the HOA (e.g., Bylaws, CC&Rs, and Rules and Regulations).
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## 1. **Electronic Payment Services**
We offer the ability to pay HOA dues and other charges via electronic means, which may include:
* Credit/debit card payments
* ACH bank transfers
* Online payment portals
* Recurring auto-pay options
These services may be provided through third-party vendors (e.g., payment processors or management companies).
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## 2. **Authorization to Charge**
By providing your payment information and submitting a payment electronically, you authorize the HOA or its designated payment processor to:
* Initiate a one-time or recurring charge to your provided account
* Collect any applicable service or processing fees (as disclosed prior to payment submission)
You represent and warrant that you have the legal right to use the payment method you submit.
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## 3. **Processing Fees**
Processing fees may apply to certain types of payments (e.g., credit card payments). These fees are:
* Not Applicable as they are paid by the HOA for credit/debit card payments
* Not Applicable as they are paid by the HOA for ACH transfers or e-checks
These fees will be disclosed during the payment process and are your responsibility.
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## 4. **Payment Deadlines and Posting**
* Electronic payments must be submitted by **11:59 PM EST** on the due date to be considered timely.
* Payments may take 1–3 business days to process and post to your account.
* It is your responsibility to ensure timely payment to avoid late fees, interest, or other penalties.
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## 5. **Declined or Returned Payments**
If a payment is declined, returned, or reversed for any reason (including insufficient funds or incorrect information), you may be subject to:
* A returned payment fee of $10.00
* Late payment penalties as outlined in HOA governing documents
* Suspension of electronic payment privileges
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## 6. **Security and Data Privacy**
* We and our third-party payment processors implement industry-standard security measures to protect your data.
* Your personal and financial information will be handled in accordance with our Privacy Policy and the privacy policies of the payment processor.
* However, we are not responsible for data breaches or unauthorized access beyond our control.
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## 7. **Disputes and Chargebacks**
* Any disputes related to payment amounts or application of payments must be submitted in writing to the HOA within 10 business days of the transaction.
* Filing a chargeback without first attempting to resolve the issue with the HOA may result in additional fees or restrictions on your account.
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## 8. **Recurring Payments and Cancellation**
If you enroll in recurring payments:
* You authorize automatic deductions until you cancel in writing.
* Cancellations must be received at least 15 business days before the next scheduled payment.
* It is your responsibility to update any changes to payment methods or account details.
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## 9. **Changes to Terms**
We may update these Terms from time to time. Updated Terms will be posted on the HOA website or distributed via email or newsletter. Your continued use of electronic payments constitutes acceptance of the updated Terms.
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## 10. **Contact Information**
For questions or concerns regarding electronic payments, please contact:
Bostwood Estates Homeowners Association
3467 US Hwy 601 S #301, Concord NC 28025
980-334-7500
treasurer@bostwoodhoa.com
www.bostwoodhoa.com
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These Terms are in addition to, and do not replace, any obligations or requirements outlined in the HOA's governing documents.