Common use of Acquiring Services Clause in Contracts

Acquiring Services. 20.1. To apply for acquiring services, which, for the purposes of the agreement, includes activities that are about completing payment transactions, cash withdrawals and other operations by electronic and technical devices (including physical POS terminal, ATM) based on the contract signed with the client (merchant), the client applies to the bank by designated written application. 20.2. The bank will review the client's application, and in case of a positive decision, a corresponding agreement on the provision of acquiring services will be signed between the client and the bank in accordance with the law. 20.3. The cost of acquiring services is determined in accordance with the agreement on acquiring services or the bank's rates, at the discretion of the bank.