Common use of PAYMENT COVERAGE Clause in Contracts

PAYMENT COVERAGE. If the Payment Guarantee is invoked by Merchant, Company’s authorized designee will provide funds for the monthly payment to Merchant on behalf of Customer until the account is paid in full or the Maximum Guarantee Amount is paid in full, whichever comes first. To invoke Payment Guarantee, merchant shall provide: 1. Copy of Customer or Account Holder’s signature on contract. 2. Copy of Customer or Account Holder’s valid government issued identification. The name on the identification and Customer payment method must match. Company may adjust the terms of Guarantee payments to merchant. Company will not honor Guarantee payments if fraud on the part of the Merchant occurs.

PAYMENT COVERAGE. If the Payment Guarantee is invoked by Merchant, Company’s authorized designee will provide funds for the monthly payment to Merchant on behalf of Customer until the account is paid in full or the Maximum Guarantee Amount is paid in full, whichever comes first. To invoke Payment Guarantee, merchant shall provideprovide the following: 1. Copy of Customer or Account Holder’s signature on contract. 2. Copy of Customer or Account Holder’s valid government issued identification. The name on the identification and Customer payment method must match. Company may may, at times, adjust the terms of Guarantee payments to merchant. Company will not honor Guarantee payments if in the event of fraud on the part of the Merchant occursMerchant.