Common use of Merchant Transactions Clause in Contracts

Merchant Transactions. Merchant represents and warrants to Processor and Bank, as of the Effective Date and as of the date of each transaction submitted under this Agreement: (a) Merchant and each transaction submitted by Merchant is fully compliant with all applicable Rules, Laws, and Policies; (b) each sales transaction represents a bona fide sale to a Cardholder of those goods and services set forth on the Merchant Application in the amount of the transaction submitted, free of any claim, demand, defense, or setoff; (c) each transaction was authorized by the Cardholder; (d) Merchant has produced and/or obtained all required transaction documentation accurately describing the goods and services; (e) each transaction submitted was accepted through the method set forth on the Merchant Application and approved by Processor (e.g. card present swipe, mail order, telephone order, internet, or other method); and