Merchant Booking definition
Merchant Booking means any completed rental made through the Booking Channels where a fixed non-commissionable net rate (as set by Supplier) is paid to Supplier regardless of the actual booking price paid by a customer through the Booking Channels. Supplier shall provide written notice prior to any change of the rates or terms and conditions. On or before the 10th day of each month during the term of this Agreement, Supplier shall electronically forward to EI a billing statement in accordance with EI specifications listing all Merchant Bookings completed by customers booking through the Booking Channels through the last day of the previous month. EI or its Affiliate shall remit the base rate for all Merchant Bookings not less than thirty (30) days after receipt of invoice therefore. EI or its Affiliate shall be the merchant of record and shall pay all associated merchant credit, charge or debit card fees associated with any Merchant Booking. EI or its Affiliate shall bear the risk of credit, charge or debit card collection, including all disputed charges.
Examples of Merchant Booking in a sentence
EI shall indemnify, defend and hold harmless Supplier and its officers, directors, employees, agents and Affiliates from and against all assessments or payments for tax, interest and penalties for the difference between the actual booking price paid by a customer for a Merchant Booking less the net rate as set by Supplier.
Supplier shall credit this account within 25 days after the end of each month in the amount equal to [***] of the Merchant Booking Revenue.
Supplier agrees to provide EI with a Car Fund equal to [***] of all Merchant Booking Revenue.