Common use of Chargeback Processing Clause in Contracts

Chargeback Processing. ICS will process debit memo submissions from wholesalers for wholesaler contract sales pricing reconciliation. 2.1 Reconciliation is based upon verification of the submitted wholesaler data against contract administration data. Results of this verification are: 2.1.1 Reconciliation reporting; and 2.1.2 Credit Memo generation. 2.2 Submissions by wholesalers will be either paper or electronic (EDI). 2.2.1 Paper - Processing time for paper submissions will be five (5) business days. 2.2.2 EDI - Processing time for EDI submissions will be three (3) business days. 2.2.3 These times do not apply to new or newly acquired Products for a period of ninety (90) days.