Common use of Settlement Schedule Clause in Contracts

Settlement Schedule. A settlement schedule (the “Settlement Schedule”) refers time for BBMSL to initiate settlement to Merchant’s Settlement Account. BBMSL reserves the right to change the Settlement Schedule, reschedule, postpone or suspend the settlement to a merchant, including but not limited to the following scenarios:- (i) when there are pending, anticipated chargebacks, disputes, refunds, reversals; (ii) when there are suspicious, illegal or fraudulent transactions; (iii) when BBMSL is required by law or court order to do so; (iv) when there are delays of funds transfer caused by banking service partners and/or payment partners; (v) when there is a long period of bank holidays; (vi) when there are public emergency incidents that affect banking services.