Driver Payments Sample Clauses
Driver Payments. ▇▇▇▇▇▇ agrees to make a payment of one million nine hundred fifty thousand dollars and zero cents ($1,950,000.00) to an account with a third-party claims administrator approved by the District within 45 days of the Effective Date, to be distributed to Eligible Drivers as set forth below:
Driver Payments. (a) Participant must ensure that when Passengers pay through an ATS by credit, debit, or prepaid card, or an E-Hail App that provides for E-Payment, the Medallion Owner receives deposit of funds within forty-eight (48) business hours, excluding banking holidays, of transmission of a batch close transaction from the ATS, except for incidents when there is a fraud investigation
(b) Participant may offer to pay a Driver directly for fares processed via or passed through the ATS. The Driver can receive funds directly from the Participant if both the Driver and the Medallion Owner elect to have the Driver paid directly by the Participant.
(1) If the Participant pays the Driver directly and the Participant is the merchant for the transaction processing, any fees withheld by the Participant for processing the credit/debit/prepaid card or E-Payment transaction must not exceed five percent (5%). Participant may not withhold any fees for processing a transaction from a Driver who has paid a Credit Card Processing Surcharge assessed pursuant to §58-21(c)(5)(xi) of TLC’s Rules.
(2) If the Participant pays the Driver directly and the Participant is not the merchant, the Participant must not withhold any fees from the Driver for processing the transaction.
(3) If the Participant pays the Driver directly using a method other than payment in cash (i.e. via an electronic debit to an account set up for the Driver), funds must be available in accordance with §58-21(f)(1) and (2) of TLC Rules and either
(i) there must be no cost to the Driver to access or withdraw their funds, and the Driver must be able to withdraw funds at a location that is within 0.5 miles of the fleet’s garage, or
(ii) there must be no cost to the Driver for the set-up and use of the account, the Driver must be able to transfer their funds to a different bank account at least once a week at no cost, and the Driver must be able to use a debit card associated with the account as a credit card with no fee for use of the card, or
(iii) there must be no cost to the Driver for the set-up and use of the account, the Driver must be able to transfer their funds to a different bank account or access their funds at an ATM at a reduced fee of $1.50 per transaction, and the Driver must be able to use a debit card associated with the account as a credit card with no fee for use of the card.