FLOOR LIMIT Sample Clauses

FLOOR LIMIT. 7.1 Where the Merchant has been provided with a EDC Terminal, the Floor Limit of the Merchant shall effectively be zero (0) in the absence of any specific authorisation and/or written authorisation from the RHB Bank to the Merchant. In the event of any equipment/line failure, the Merchant shall on each occasion request and obtain from the RHB Bank by telephone, the RHB Bank's specific authorisation and/or written authorisation. 7.2 Where the Merchant has not been provided with a EDC Terminal, the Floor Limit of the Merchant shall effectively be zero (0), and the Merchant shall be responsible for obtaining the authorisation
AutoNDA by SimpleDocs
FLOOR LIMIT. The Floor Limit(s) shall be advised by the Bank from time to time.
FLOOR LIMIT. The Floor Limit is $0. Bank may change the Floor Limit upon notice to Company.
FLOOR LIMIT. Merchant may incur of any amount but not exceeding to the floor limit of .................... However, for the amount beyond the floor limit, the Merchant must obtain prior approval of HBL. In the absence of such approval, HBL shall not responsible for any such charges or any part thereof and all such charges will be accepted on a collection basis. Splitting of charges into two or more will not be accepted to HBL. HBL reserve the rights to refuse the payment if an authorization is refused. Prior authorization in respect of charges exceeding the Floor Limit may be obtained by contacting HBL by telephone or Telex/Fax stating the correct name and the number of the Valid Card, its expiry date, Merchant name, number and the amount for which the approval is required. If authorization is granted, the authorization number must be indicated on the charge slip. HBL may refuse authorization in its sole discretion and may further, in such an event, also direct the Merchant to take immediate preventive action.
FLOOR LIMIT. For each Card Transaction, ‘Merchant Establishment’ will need to seek authorization from Bank Alfalah Limited for the same, though Bank Alfalah Limited, in its absolute discretion, may specify a Floor Limit under which the ‘Merchant Establishment’ need not seek prior authorization from Bank Alfalah Limited before conducting the Card Transaction. Splitting of one Card Transaction or charge into two or more Sales or Digital Slips will not be acceptable to Bank Alfalah Limited {and a determination by Bank Alfalah Limited of the existence of such splitting of charges shall conclusively bind the 'Merchant Establishment'). The 'Merchant Establishment’ executing this agreement has been assigned the Floor Limit of Rs. - (Rupees- only) until otherwise notified or withdrawn by Bank Alfalah Limited, meaning that the ‘Merchant Establishment’ shall not be authorised to entertain any charge and or other purchases of goods and services (in aggregate or individual Card Transaction through use of Bank Alfalah Limited VlSA./Mastercard/UnionPay/1Link PayPak/ JCB Card/ American Express card by a 'Cardholder' equal to or in excess of the Floor Limit except with the prior specific authorization of Bank Alfalah Limited).
FLOOR LIMIT. 4.1 The Floor limit(s) shall initially be set at Card Association rules for all Card transactions but may be amended downwards by Capitec from time to time upon notice to the Merchant in writing.
FLOOR LIMIT. All transactions are subject to a zero dollar ($0.00) floor limit, unless otherwise stated.
AutoNDA by SimpleDocs
FLOOR LIMIT. 4.1 The floor limit is stipulated in the Service Establishment Agreement. 4.2 We reserve the right to change the floor limit at any time with prior notification to the Merchant 5.1 You hereby authorise us to debit from time to time your nominated bank accounts or any other account held with us or any other financial institution with the following items: 5.1.1 the service establishment commission, calculated at the rate stated in the Service Establishment Agreement, on the total value of all valid vouchers you deposit into your nominated bank accounts; 5.1.2 any refund due to the Cardmember; 5.1.3 adjustments for errors;
FLOOR LIMIT. The Floor Limit is $0. Bank may change the Floor Limit upon thirty (30) days prior written notice to Company. Notwithstanding the foregoing, in the event Company is unable to obtain an electronic Authorization due to (i) Bank’s inability to provide electronic Authorizations or (ii) Company’s electronic capability to obtain an Authorization not being operational, the Floor Limit shall be one hundred dollars ($100.00) (“Increased Floor Limit”), provided that each time an Increased Floor Limit is necessitated, Company agrees to conform to the following procedures: Company shall establish a six digit numeric code (“Code”) for each Card Sale that is equal to or under one hundred dollars ($100.00) (“Qualified Card Sale”). The Code shall be mutually agreed upon by Bank and Company. This Code will appear on the Sales Slip, thereby identifying the Card Sale as one that was made when electronic Authorizations could not be provided or obtained. If the Code does not appear on the Sales Slip for a Qualified Card Sale, Bank may process a Chargeback for such Qualified Card Sale pursuant to Section 3.10 below. For all Card Sales greater than one hundred dollars ($100.00), Company shall obtain a non-electronic Authorization, in accordance with Section 3.6(c)(ii), below. Bank may audit Company’s records from time to time in order to verify that (i) the Increased Floor Limit and the Code are used only for Qualified Card Sales when electronic Authorizations could not be provided by Bank or obtained by Company and (ii) only Qualified Card Sales are eligible for the Increased Floor Limit. In the event that Bank determines that the Increased Floor Limit and the Code were used when electronic Authorizations could be provided by Bank or obtained by Company, the Increased Floor Limit was applied to Card Sales other than Qualified Card Sales, or Company did not conform to the procedures set forth above, Bank may (i) process a Chargeback for such Qualified Card Sale or Card Sale pursuant to Section 3.10 below or (ii) decrease the Increased Floor Limit to $0.
FLOOR LIMIT. (a ) By prior written notice we will designate a Floor Limit in respect of each service outlet or department of a service outlet operated by the Merchant and maysimilarly vary any such Floor Limit by giving a written notice in accordance withclause 10.6. In the absence of such notice the Floor Limit shall be non existing. (b ) In the case of the Visa Electron Card, transactions must be on an “on-line” mode and Floor Limit shall be non existing.
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!