These payment methods are exclusively governed by agreements between banks, their customers and suppliers of goods and services (issuers).
There is currently no legal definition of direct debits, and no special rules have been specified to govern the relations between the various parties involved in the use of this payment method.
Referring to the definition of the BIS, the direct debit is a preauthorised debit on the payer’s bank account initiated by the payee.
Hence, this is an automated payment instrument resulting from the banking practice, suitable for repetitive payments, and which exempts the debtor from sending a payment document at each settlement.
- The creditor, customer, or client, is a legal entity that handles the above securities to its bank for possible clearing and settlement. It is possible, though very rare, that the customer be a natural person, such as some real estate entrepreneurs who accept direct debits as payment instruments.
- The drawer or debtor is the legal or natural person, from whose account the amount of the levy will be debited.
The direct debit is based, on the one hand, on the mandates made, in a permanent but revocable way, between the debtor, the creditor and their respective bankers, and on the other hand, on agreements and customs, given that these mandates are completed as part of agreements and customs.