Authorized Floor Limit Sample Clauses

Authorized Floor Limit i. Where the Merchant has been provided with an Electronic Terminal, the Authorized Floor Limit shall be effectively zero (0) in the absence of any specific written authorisation from FCSB. In the event of equipment/line failure, the Merchant shall on each occasion request and obtain from FCSB by telephone FCSB’s specific authorization and/or written authorization. ii. Where the Merchant has not been provided with an Electronic Terminal, the Authorized Floor Limit shall be that determined by FCSB at its absolute discretion and notified in writing to the Merchant at any time and from time to time. iii. In the event a Cardholder seeks to make a Card Transaction exceeding the Authorized Floor Limit, the Merchant shall seek authorization/approval from FCSB and shall write type or print legibly the authorization/approval code/number evidencing any authorization so obtained on the Sales Slip/Terminal Receipts before the completion of such transaction. iv. FCSB shall inform the Merchant of any revised limit or limits and such revised limit or limits shall take effect from the date stated in the notice and if no date is stipulated, on the date of the notice itself. The amount to be charged by any Cardholder shall not exceed the Authorization Floor Limit and in this connection, no Split Sale shall be allowed.