Form FMS 310. ACH Debit Authorization/Agreement - Virginia

Form FMS 310. ACH Debit Authorization/Agreement is used by companies to authorize the Virginia Department of Motor Vehicles (DMV) to use the Automated Clearing House (ACH) for debit transactions from the company's bank account. The main purpose of this form is to facilitate electronic payments for various DMV services or fees on a recurring basis.

The parties involved in this form are the company authorizing the DMV to make debit transactions and the Virginia Department of Motor Vehicles (DMV). The form consists of sections where the company provides authorization details, including bank account information and the types of DMV transactions they wish to pay using ACH debit.

Important fields in this form include the company's name, address, bank account number, and the specific DMV transactions or fees they want to pay through ACH debit. The form may also include information on fees associated with ACH transactions and any terms and conditions related to the authorization.

An example scenario where this form would be used is when a company that operates a fleet of vehicles wants to streamline the payment process for vehicle registrations and other DMV-related fees. By using this form, the company can authorize the DMV to automatically debit their bank account for the specified fees on a regular basis, reducing administrative tasks and ensuring timely payments.

When filling out this form, companies need to ensure the accuracy of their bank account information and carefully review the list of transactions they want to authorize for ACH debit. Additionally, the form may require the company's authorized representative to sign and date the agreement.

Related forms may include other payment authorization forms for specific transactions or payment methods, while alternatives could include manual payment methods such as checks or credit card payments.