Common use of Rejection of Payment Clause in Contracts

Rejection of Payment. Notwithstanding anything contained anywhere in this Agreement, the Merchant hereby fully confirms and agrees that Cashlesso and the Acquiring Bank reserves the right to reject payment in respect of the Transactions where: The Product or Service is not as promised or is defective or is not delivered within Delivery Due Date; or If any direction is received from the Customer with respect to withhold payment or reject payment (whether such direction is received before crediting the amount to the account of the Merchant or anytime afterwards); or If the Valid Card/Login ID/Password/ PIN is stolen or lost or the Transaction was not authorised by the Customer; or The transaction status message from/to Merchant or from/to Cashlesso or from/to Acquiring Bank is illegally tampered with or hacked; or Payment in respect of the Transaction has already been received by the Merchant from the Customer or on Customer’s behalf; or In case the Transaction is illegal or the Transaction involves payment for prohibited or illegal purposes or is prejudicial to public interest; or Fraud or negligence by the Merchant or the Customer; or The Merchant fails to comply with any of the terms and conditions contained herein. In event of rejection of payment as specified herein, the Merchant shall be responsible to collect the payment from the Customer directly and in any case whatsoever neither Cashlesso nor the Acquiring Bank shall have any responsibility or liability in this regard. Cashlesso and the Acquiring Bank reserve the right to reverse the credit given to the Merchant for the Transaction or set-off the relevant amount paid against payments due to the Merchant in case the payment is rejected or to be rejected including but not limited to the grounds specified in Section 4.2.1 above and in doing so Cashlesso may deduct the relevant amount from the Security Deposit Amount and/or from subsequent transactions. All payments under this Agreement may be suspended till such time as Cashlesso deems fit, in the event of merchant committing any fraud or violating any law or legal requirement. The Merchant agrees that Cashlesso reserves the right to impose monetary limits on the Transactions or require the Merchant to keep additional Security Deposit with Cashlesso, temporarily or permanently, from time to time. If Cashlesso, Acquiring Bank and Nodal Bank has reason(s) to believe that a fraud has been committed against the Bank or Cashlesso by the Customer / Merchant or any third party, or has reason to believe that the Customer / Merchant has in connivance with any other person done any fraud or assisted in the same, Cashlesso and the Bank shall be entitled to suspend all payments to be made to Merchant pending enquiries by the Bank/s and Cashlesso. Notwithstanding anything contained herein, Cashlesso shall be entitled to withhold payment in respect of any transaction if the Acquiring Bank or Cashlesso has reasonable reason(s) to believe that such Transaction has been fraudulently initiated. Merchant acknowledges that as a security measure, Cashlesso may at its sole discretion block any card number / account numbers, group of cards or transactions from any specific blocked or blacklisted customer cards / accounts, specific / group of IP addresses / devices / geographic locations and / or any such risk mitigation measures it wishes to undertake.

Rejection of Payment. Notwithstanding anything contained anywhere in this Agreement, the Merchant hereby fully explicitly confirms and agrees that Cashlesso and the Acquiring Bank reserves the right to reject payment in respect of the Transactions where: The Product or Service is not as promised or is defective or is not delivered within Delivery Due Date; or If any direction is received from the Customer with respect to withhold payment or reject payment (whether such direction is received before crediting the amount to the account of the Merchant or anytime afterwards); or If the Valid Card/Login ID/Password/ PIN is stolen or lost or the Transaction transaction was not authorised by the Customer; or The transaction status message from/to Merchant or from/to Cashlesso or from/to Acquiring Bank is illegally tampered with or hacked; or Payment in respect of the Transaction has already been received by the Merchant from the Customer or on Customer’s behalf; or In case the Transaction is illegal or the Transaction involves payment for prohibited or illegal purposes or is prejudicial to public interest; or Fraud or negligence by the Merchant or the Customer; or The Merchant fails to comply with any of the terms and conditions contained herein. In event of rejection of payment as specified herein, the Merchant shall be responsible to collect the payment from the Customer directly and in any case whatsoever neither Cashlesso nor the Acquiring Bank shall have any responsibility or liability in this regard. Cashlesso and the Acquiring Bank reserve the right to reverse the credit given to the Merchant for the Transaction or set-off the relevant amount paid against payments due to the Merchant in case the payment is rejected or to be rejected including but not limited to the grounds specified in Section 4.2.1 above and in doing so Cashlesso may deduct the relevant amount from the Security Deposit Amount and/or from subsequent transactions. All payments under this Agreement may be suspended till such time as Cashlesso deems fit, in the event of merchant committing any fraud or violating any law or legal requirement. The Merchant agrees that Cashlesso reserves the right to impose monetary limits on the Transactions transactions or require the Merchant to keep additional Security Deposit with Cashlesso, temporarily or permanently, from time to time. If Cashlesso, Acquiring Bank and Nodal Bank has reason(s) to believe that a fraud has been committed against the Bank or Cashlesso by the Customer / Merchant or any third party, or has reason to believe that the Customer / Merchant has in connivance with any other person done any fraud or assisted in the same, Cashlesso and the Bank shall be entitled to suspend all payments to be made to Merchant pending enquiries by the Bank/s and Cashlesso. Notwithstanding anything contained herein, Cashlesso shall be entitled to withhold payment in respect of any transaction if the Acquiring Bank or Cashlesso has reasonable reason(s) to believe that such Transaction has been fraudulently initiated. Merchant acknowledges that as a security measure, Cashlesso may at its sole discretion block any card number / number/account numbers, group of cards or transactions from any specific blocked or blacklisted customer cards / cards/accounts, specific / specific/group of IP addresses / devices / addresses/devices/geographic locations and / or and/or any such risk mitigation measures it wishes to undertake.