Settlement and monitoring of settlement Sample Clauses

Settlement and monitoring of settlement. At a regular settlement KORTA will each time deduct from the merchant's payment account all costs due, including a commission, fees in accordance with the price list, corrections regarding a previous settlement, etc. If a chargeback is registered, cf. definitions in these terms, KORTA may deduct from the merchant's settlement, without consulting it, a corresponding amount in addition to the related costs of the chargeback. KORTA may correct all mistakes regarding the registering of transactions, their execution or settlement, including reversed transactions, without consulting the merchant. KORTA may also deduct from a settlement costs regarding service equipment, service solutions and fees/costs of a third party, based on an agreement between parties in this regard. If the merchant's balance in respect of KORTA is negative because of chargebacks, refunds or other reasons, a debt because of this is deemed due when this happens and is payable immediately. KORTA may debit a negative balance from other merchant framework agreements and/or payment accounts registered to the same merchant identity or owner. The merchant authorises KORTA to register arrears older than 40 days with Creditinfo Lánstraust hf.'s arrears register, etc., whether involving arrears because of payment processing or other services provided by KORTA or Korta ehf. KORTA is authorized to collect all fees from the merchant that the card companies charge KORTA and is attributable to the merchant. This can for example be registration fees, fees for conduct which is not approved, fraud fees, fees regarding security breach, monitoring fees and/or other fees that the card companies can charge KORTA for the merchant’s act or omission. When a settlement occurs in a currency other than that of the original transaction, exchange-rate calculations are made in accordance with KORTA's settlement exchange rate, which is the exchange rate published by the Central Bank of Iceland, with a minimal surcharge. Regarding settlement and reversals of payments, reference is made to Section 4.4 and regarding objections on a card payment to Section 4.6. Settlement of debit card transactions is governed by Section 4.5. The merchant monitors whether a settlement is received from KORTA, and it is obligated to make comments in writing to KORTA if a settlement has not been made within a month from the agreed settlement date. If such comments have not been received within 6 months from the date of the transactions, KORTA h...
Sample 1
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Settlement and monitoring of settlement. The customer undertakes to carefully monitor the balance of its payment account and all corrections that may be made to it. KORTA may correct all mistakes regarding the registering of transactions, their execution or settlement, including reversed transactions, without consulting the merchant. Otherwise, reference is made to Section 5.2 Settlement and monitoring of settlement.
Sample 1
Settlement and monitoring of settlement. At a regular settlement PAYSTRAX will each time deduct from the Merchant's operating account all costs due, including a commission, fees in accordance with the price list, corrections regarding a previous settlement, etc. If a chargeback is registered, cf. definitions in these terms, PAYSTRAX may deduct from the Merchant's settlement, without consulting it, a corresponding amount in addition to the related costs of the chargeback. PAYSTRAX may correct all mistakes regarding the registering of transactions, their execution or settlement, including reversed transactions, without consulting the Merchant. PAYSTRAX may also deduct from a settlement, costs regarding service equipment, service solutions and fees/costs of a third party, based on an agreement between parties in this regard. If the Merchant's balance in respect of PAYSTRAX is negative because of chargebacks, refunds or other reasons, a debt because of this is deemed due when this happens and is payable immediately. PAYSTRAX may debit a negative balance from other MFA and/or operating accounts registered to the same Merchant identity or owner. The Merchant authorises PAYSTRAX to register arrears older than 40 (forty) days with corporate arrears register, etc., whether involving arrears because of payment processing or other services provided by PAYSTRAX. The Merchant authorizes the PAYSTRAX to establish a reserve and/or rolling reserve account to ensure PAYSTRAX’s recovery of any liabilities owed to it or reasonably anticipated to be owed to it by the Merchant pursuant to this MFA. Such liabilities include, without limitations, all liabilities in respect of actual and/or potential post-termination chargebacks, post-termination fees, as well as all fee and indemnifications due or anticipated to be due to PAYSTRAX from the Merchant. PAYSTRAX is authorised to collect all fees from the Merchant that the card companies charge PAYSTRAX and is attributable to the Merchant. This can for example be registration fees, fees for conduct, which is not approved, fraud fees, fees regarding security breach, monitoring fees and/or other fees that the card companies can charge PAYSTRAX for the merchant’s act or omission. When a settlement occurs in a currency other than that of the original transaction, exchange-rate calculations are made in accordance with PAYSTRAX's settlement exchange rate, which is the daily exchange rate published by Visa, Mastercard or other payment method organisation, with a surcharge. Regardi...
Sample 1
Settlement and monitoring of settlement. The merchant undertakes to carefully monitor the balance of its operating account and all corrections that may be made to it. PAYSTRAX may correct all mistakes regarding the registering of transactions, their execution or settlement, including reversed transactions, without consulting the merchant. Otherwise, reference is made to Section 5.2 Settlement and monitoring of settlement.
Sample 1

Related to Settlement and monitoring of settlement

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