Common use of PRESENTATION FOR PAYMENT AND SETTLEMENT Clause in Contracts

PRESENTATION FOR PAYMENT AND SETTLEMENT. 14.1 The PocketPOS is programmed to perform automated daily settlement within a specified timeframe. 14.2 Any payment not reflected in the nominated bank account must be queried within a period of seven days of the date of settlement. 14.3 We reserve the right to net settle you at our sole discretion. Net settle means the transaction value less your commission. 14.4 We reserve the right to withhold settlement of a given Batch or part of that while investigating potential irregularities. 14.5 Deposits into the nominated bank account will be regarded as payment of money into this account only once each Card transaction has been honoured. 14.6 While we act in good faith and exercises reasonable care, it cannot be held liable if any deposit (or Transaction) is dishonoured for any reason.