Common use of TRANSACTION HANDLING Clause in Contracts

TRANSACTION HANDLING. 10.1 The Merchant in handling transaction(s) via EDCT(s) and other electronic devices must: (a) ensure that the EDCTs and other electronic devices are acceptable to the Bank; (b) ensure that the extraction of data from Cards must be in the manner specified by the Bank (this may vary from time to ▇▇▇ e but the Bank will give prior notice of variation to the Merchant); (c) ensure that the amount of the transaction and any further information (such as cardholder number and data) which the Bank from time to time requires must be printed on a terminal receipt which should be in a form approved by the Bank; (d) ensure that the Equipment, software technical standards and procedures for the electronic extraction, retention and transmission of data for the purposes of this Agreement must be approved by, or (as the case may be) in accordance with the requirements of the Bank; (e) require the Cardholder to sign the credit card slip/sales invoice recording the relevant sales; (f) verify the Customer's signature against the signature on the back of the Card to ascertain that they are the same and, if the card has a photograph, that the photograph and the Cardholder are the same. The Merchant should ensure the signature appears on all copies of the credit card slip/sales invoice; (g) ensure there is no discrepancy between the embossed and displayed Card number before completing the transaction; (h) deliver to the Customer a true and completed copy of the credit card slip; (i) collect the daily transaction detail report for accounting purposes. The Bank's copy shall be batched by terminal number and then transaction sequence order together with the deposit summary and these must be returned to the Bank for records within seven working days unless otherwise agreed in writing between the Bank and the Merchant. Merchant shall keep the Merchant copy for at least one year and shall present to the Bank upon request; (j) batch separately with a deposit slip listing the individual sales and credit slips accounts and the net total for manual transactions with authorization only (i.e. Call Bank situation). 10.2 The Merchant in handling transaction(s) via MPOS(s) must: (a) ensure that the extraction of data from Cards must be in the manner specified by the Bank (this may vary from time to time but the Bank will give prior notice of variation to the Merchant); (b) ensure that the Equipment, software technical standards and procedures for the electronic extraction, retention and transmission of data for the purposes of this Agreement must be approved by, or (as the case may be) in accordance with the requirements of the Bank; (c) require the Customer to sign the Signature screen recording the relevant sales; (d) verify the Customer's signature on the Signature screen against the signature on the back of the Card to ascertain that they are the same and, if the Card has a photograph, that the photograph and the Customer are the same. (e) ensure there is no discrepancy between the embossed and displayed Card number before completing the transaction; 10.3 Where any transaction is not handled via EDCT/MPOS the Merchant shall use a Manual Sales Voucher. The Manual Sales Voucher shall have three (3) copies namely: Bank Copy, Merchant Copy and Customer Copy on which the Merchant must; (a) imprint legibly the embossed data from the Card and shall enter the Merchants name and account number; (b) enter an adequate description of all the goods or services sold, the price in Sri Lankan Rupees and the date of the transaction; (c) obtain the signature of the Customer and compare the signature with the signature on the card to ascertain that they are the same and, if the Card has a photograph, that the photograph and the Customer are the same. The Merchant should ensure that the signature that appears on all copies of the Sales Slip and sales invoice; and (d) deliver to the Customer a true and completed copy of the sales slip.

TRANSACTION HANDLING. 10.1 The Merchant 4.1 All Card transactions shall be recorded by the MERCHANT in handling transaction(s) via EDCT(s) and other electronic devices must: (a) ensure that the EDCTs and other electronic devices are acceptable a transaction receipt either through a separate confirmation page, an email to the Bank; (b) ensure that the extraction of data from Cards must be in the manner specified by the Bank (this may vary from time to ▇▇▇ e but the Bank will give prior notice of variation to the Merchant); (c) ensure that the amount of the transaction and any further information (such as cardholder number and data) which the Bank from time to time requires must be printed on a terminal receipt which should be in a form approved by the Bank; (d) ensure that the Equipment, software technical standards and procedures for the electronic extraction, retention and transmission of data for the purposes of this Agreement must be approved byCardholder, or (as the case may be) in accordance with the requirements of the Bank; (e) require the Cardholder to sign the credit card slip/sales invoice recording the relevant sales; (f) verify the Customer's signature against the signature on the back of the Card to ascertain that they are the same and, if the card has a photograph, that the photograph and the Cardholder are the samephysical receipt. The Merchant should ensure the signature appears on all copies of the credit card slip/sales invoice; (g) ensure there is no discrepancy between the embossed and displayed Card number before completing the transaction; (h) deliver to the Customer a true and completed A copy of the credit card slipsaid transaction receipts shall be kept by the MERCHANT in a secured environment, such as but not limited to a secured server/ cloud set up for the purpose. 4.2 The MERCHANT shall upon completion of any Card’s transaction provide the Cardholder with a transaction receipt via the Merchant’s Website designed by the Merchant which shall contain the following: a. Merchant’s name; (i) collect the daily transaction detail report for accounting purposes. The Bank's copy shall be batched by terminal number and then transaction sequence order together with the deposit summary and these must be returned to the Bank for records within seven working days unless otherwise agreed in writing between the Bank and the b. Merchant. Merchant shall keep the Merchant copy for at least one year and shall present to the Bank upon request’s on-line address; (j) batch separately with a deposit slip listing the individual sales and credit slips accounts and the net total for manual transactions with authorization only (i.e. Call Bank situation). 10.2 The Merchant in handling transaction(s) via MPOS(s) must: (a) ensure that the extraction of data from Cards must be in the manner specified by the Bank (this may vary from time to time but the Bank will give prior notice of variation to the Merchant)c. Transaction amount; (b) ensure that the Equipment, software technical standards and procedures for the electronic extraction, retention and transmission of data for the purposes of this Agreement must be approved by, or (as the case may be) in accordance with the requirements of the Bankd. Transaction currency transaction date; (c) require the Customer to sign the Signature screen recording the relevant salese. Cardholder’s name; (d) verify the Customer's signature on the Signature screen against the signature on the back of the Card to ascertain that they are the same and, if the Card has a photograph, that the photograph and the Customer are the same. (e) ensure there is no discrepancy between the embossed and displayed Card number before completing the transactionf. Authorization Code; 10.3 Where any transaction is not handled via EDCTg. Description of goods/MPOS the Merchant services and h. Return/refund policy(if restricted) i. Transaction Reference Code The MERCHANT shall use a Manual Sales Voucher. The Manual Sales Voucher shall have three (3) copies namely: Bank Copy, Merchant Copy and Customer Copy on which the Merchant must; (a) imprint legibly the embossed data from the Card and shall enter the Merchants name and account number; (b) enter an adequate description of all deliver the goods or services soldrendered to the Cardholder subject to the terms and conditions set out in the MERCHANT t’s policy displayed on the Merchant’s Website. 4.3 In accepting and honoring a Card for payment, the price in Sri Lankan Rupees MERCHANT shall ensure the following procedures are strictly observed and complied with: a. to ensure and accept only Card’s transactions with prior Authorization Code obtained from RCBC; b. the delivery of goods sold or services rendered shall comply with the terms of the contract entered between the MERCHANT and the date of the transactionCardholder; (c) obtain c. the signature of the Customer and compare the signature with the signature MERCHANT’s refund policy is clearly stated on the Merchant’s Website; d. the transaction receipt for all completed Card’s transaction is produced and delivered to the Cardholder via the Merchant’s Website; e. the MERCHANT shall not complete the transaction if RCBC has advised to decline the card after authorization checking. f. the MERCHANT shall deliver to ascertain that they are RCBC within seven (7) Business Days any credit voucher being refunded to be posted to the same and, if Cardholder; g. to ensure the Card has a photograph, that the photograph and the Customer are the same. The Merchant should ensure that the signature that appears on all copies of the Sales Slip and sales invoicebilling amount is correctly processed; and (d) deliver h. the MERCHANT shall accept and honor any return of goods by the Cardholder when properly presented in accordance to Merchant’s Refund Policy. i. all approved transactions will be automatically settled. j. if MERCHANT does not raise any objection to the Customer amount of payment by RCBC within fourteen (14) Days after the date RCBC issues a true and completed copy of the sales slipcheck or credit merchant’s account, MERCHANT shall be deemed to have accepted such amount as correct.