Common use of Merchant Processing Delay Clause in Contracts

Merchant Processing Delay. When you send a payment to certain merchants, you are providing an Authorisation to the merchant to process your payment and complete the transaction. The payment will be held as pending until the merchant processes your payment. Some merchants maydelayprocessing your payment. In such an instance, your Authorisation will remain valid typically for up to 30 Days. If you have a positive Balance at the time you made your Authorisation, you agree that PayPal mayhold the amount of your Balance which forms the payment in your Reserve Account. The payment will be held as pending in your Reserve Account until the merchant completes the processing of your payment. If your payment requires a currencyconversion ▇▇▇▇, the amount of the Currency Conversion Fee (per Schedule 1) will be determined at the time the merchant processes your payment and completes the transaction. Between the time you authorise a payment and the time the payment is processed, the merchant mayamend the payment amount (for example, to account for taxes, postage or amendments to the purchase you made with the merchant). You agree, at the time of Authorisation, to authorise a payment to be made to the merchant up to the amount which is highlighted as being the ‘maximum amount’ (or similar) on the payment authorisation page. This is to include anyadditional amounts which maybe payable byyou to the merchant, as subsequentlyagreed byyou and the merchant. You further agree that we are not required to verify this additional amount with you at the time the payment is transferred and that we maytransfer anyamount up to the ‘maximum amount’ (or similar) on the basis of your authorisation and upon receiving instructions from the merchant of the final payment amount, it being understood that the final payment amount maynot represent more than 115% of the payment amount or a difference of 75 USD, whichever is less. It is the merchant’s responsibilityto inform you of the ‘maximum amount’ (or similar) and to ensure you authorize such amount.