Common use of Pre-authorisation Clause in Contracts

Pre-authorisation. (i) “Pre-Authorisation”is a procedure where the systems will automatically pre-book an amount from the Card Account for certain Transactions including petrol, hotel and parking transactions. When the Card is used to perform petrol transaction(s), a pre- booked amount of RM200 or such other prescribed amount (if applicable) will be reserved in the Card Account and will not be made available for use by the Cardholder. Any excess pre-booked amount (which represents the difference between the transaction value and the pre-booked amount) will automatically be released and made available for use by the Cardholder at approximately T+3 days (Note: T = Transaction date) or such other period as may be determined from time to time once the acquiring bank claims for the actual purchase value from Merchantrade. For hotel and parking transactions, the pre- booked amount will be reserved in the Card Account and will not be made available for use by the Cardholder for a maximum 30 days or such other period as may be determined by Merchantrade from time to time.

Pre-authorisation. (i) “Pre-Authorisation”is Authorisation” is a procedure where the systems will automatically pre-book an amount from the Card Account for certain Transactions including petrol, hotel and parking transactions. When the Card is used to perform petrol transaction(s), a pre- booked amount of RM200 or such other prescribed amount (if applicable) will be reserved in the Card Account and will not be made available for use by the Cardholder. Any excess pre-booked amount (which represents the difference difference between the transaction value and the pre-booked prebooked amount) will automatically be released and made available for use by the Cardholder at approximately T+3 days (Note: T = Transaction date) or such other period as may be determined from time to time once the acquiring bank claims for the actual purchase value from Merchantrade. For hotel and parking transactions, the pre- pre-booked amount will be reserved in the Card Account and will not be made available for use by the Cardholder for a maximum 30 days or such other period as may be determined by Merchantrade from time to time.