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Can the customer stipulate any maximum debit, purpose or validity period for the mandate?

April 26, 2017customer Debit mandate maximum period purpose stipulate validity

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Can the customer stipulate any maximum debit, purpose or validity period for the mandate?

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Ans. Yes. It is left to the choice of the individual customer and the ECS user to finalise these aspects. The mandate can contain a maximum ceiling. It can also specify the purpose as also a validity period.