Davis Lake Community Association

DLCA Approved Payment Methods
Updated July 25, 2008

 DLCA homeowners can choose one of four methods to pay most indebtedness to the DLCA.
The four different options are:

1. Utilize your own financial institutions’ Electronic Bill Pay service.
2. Create an electronic check through the internet using the EasyDraft link on the left of this page. (Two options are offered - “One-time Payment” or "Recurring Payment”) 
3. Set up an Automated Clearing House (ACH) electronic check draft through our management company Cedar Management Group (CMG).
4. Mail or hand deliver a paper check to Cedar Management Group for processing on behalf of DLCA.

 Following are details of the four Payment Options:

1. Utilizing your own financial institution’s Electronic Bill Pay service is an acceptable method of payment. DLCA has no control over its use and cannot provide any guidance. You need to consult with your financial institution for instructions on how to pay using this method.
   
   

2. The DLCA Board of Directors has contracted the services of EasyDraft Corporation to process a web-enabled (internet) electronic check. It is an efficient process and is recommended by the DLCA Board. The resident must be capable of using the computer and have access to the internet. There are 2 ways to make a payment using this system.
   
   

To use the EasyDraft payment process you must first go to the internet and sign onto the www.davislake.org web site. On the left side of the screen you will see an EasyDraft icon. Place your pointer (cursor) on the icon and enter. You will be transferred to the EasyDraft secure website. From there just follow the detailed instructions provided. There are two options to choose when using this process to create an electronic check.

Option 1 – One Time Payment:

Selecting and executing this process instructs the Easy Draft system to make only this one-time payment and do it immediately. If executed before 2 PM Eastern Time on a business banking day, the funds will be transferred by the next business day (Settlement Day). If processed after two PM, the earliest day that settlement will occur is two business banking days later. The Easy Draft System will also ask for a valid email address to facilitate a return email confirming the payment was successfully executed. Once the payment order is executed by the EasyDraft services (sent through the electronic banking network), they will send an email with a tracking number of the payment to the email address provided. A copy of this email will also be sent to the CMG administrator. This email is an audit trail record that the execution of a payment order was attempted by the resident and any failure in the system would support the waiver of any late payment fees imposed by DLCA and CMG for failure to pay. More detailed instructions on how to process are provided by EasyDraft on the screen as you enter the data.

 Option 2 – Recurring Payment:

Selecting and executing this process requires a few more steps and the recording of additional information. This option allows the resident to setup a payment order to be automatically executed on a predetermined date in the future controlled by the DLCA Board. By its very nature, key data will be required to be retained by EasyDraft to facilitate the automatic execution of this future payment. Once you enter this data into the EasyDraft system they will ask you to establish a password. Creating and entering a password provides the security you will want to restrict access to the data entered and stored. From that point forward the only way the EasyDraft system will allow access to the data stored is by entering this password. DLCA has established and instructed EasyDraft to execute these automated payments on the seventh (7th) business banking day of the first month of every quarter. That is January, April, July, and October. Note that it is the 7th business banking day, not the 7th calendar day.

 To help remind the resident or club member of the upcoming payment, an email will be sent to the email address provided two business banking days prior to the execution date of the payment. Changes can be made to the payment order up to 2 PM Eastern Time the day prior to the funds being transferred (Settlement day). Detailed instructions on how to process are provided by EasyDraft on the screen as you enter the data.

3. The Automated Clearing House (ACH) pre-approved debit performs the same function and in a very similar manner as the web-enabled electronic check described above. However, it does not require the resident to use a computer. The automated clearing house (ACH) is part of the banking network that provides a service allowing the beneficiary to initiate a pre-authorized electronic payment order to withdrawal funds from the homeowner’s bank account. The resident simply provides a signed, completed authorization form (available from CMG) and a cancelled check to CMG. CMG will record the data into the EasyDraft system and retains the cancelled check as well as the signed authorization form. The signed form is used to prove to the authorities (if necessary) that authorization was provided by the resident to debit their bank account. This form and all related documents must be processed at least 14 days in advance of the first scheduled payment. Any future changes (or cancellation) must also be made in person at least 14 days in advance of the change (or cancellation) taking place. The actual payment is initiated quarterly by CMG between the 5^th and 10th business day of the first month of every quarter. (January, April, July, or October) 
   
   

4. When a paper check is received by CMG (US Mail or hand delivered), it is posted to your DLCA account and then deposited electronically through a remote deposit capture device at their office. The check is then physically stamped as processed, stored for approximately 5 days to ensure the payment cleared the bank and then destroyed as mandated by law. This process applies to all checks written on standard personal check stock. This same process applies to oversized commercial check stock.
   
   USPS Mail Address:
   Davis Lake Community Association
   C/O Cedar Management Group
   P.O. Box 26844
   Charlotte, NC 28221
   
   Physical Address:
   Davis Lake Community Association
   C/O Cedar Management Group
   11515 Reames Road
   Charlotte, NC  28269