Authorised Transaction definition
Examples of Authorised Transaction in a sentence
Thereafter We will reserve funds in the amount of the Authorised Transaction price.
This clause entitles Moneytech to withhold payment only if there is reason to suspect that the charge may not be valid or the transaction is not an Authorised Transaction and Moneytech has notified you in writing that it is withholding payment and the reasons why it suspects the transaction is not an Authorised Transaction.
For the purposes of clause 8.3(a), an Authorised Transaction will be taken to have been undertaken by you at the time and by reason of the acceptance by Moneytech of the Transaction Acceptance Instructions to which the Authorised Transaction relates.
You must not, without Moneytech’s prior written consent, allow one of your customers or an Accountholder to use a Buyer’s Account to incur Charges or undertake an Authorised Transaction with you where the customer or the Accountholder is one of your Associates.
Moneytech may withhold payment of any Charge for up to twenty (20) Business Days after the Charge associated with an Authorised Transaction undertaken by you is submitted to Moneytech to allow Moneytech time to investigate and check the validity of the Charge or compliance with this Agreement.