Payment Schedules and Due Dates
Once your application is approved and the terms and conditions of your Padder guarantee are accepted, payment must be authorized using the provided payment method.
Initial Payment
- Manual Payment Authorization – Payment must be manually authorized to activate protection limits.
- One-Time Payment – Due on the day of acceptance for the annual Padder guarantee.
- Payment Installments – Payment plans may be available on a case-by-case basis. Padder will communicate options available upon successful Lease Coverage qualification.
Annual Renewal
To maintain protection for the full commercial lease term, guarantees must be renewed annually.
- Reminder Notices – A notification will be sent before the renewal date.
- Automatic Payment – The renewal fee will be automatically charged to the provided payment method, if stored on file. Applicable to some payment types (e.g., credit cards and debit cards).
Important Notes
Ensure the payment method is active and has sufficient funds to prevent disruptions to protection limits.