Merchant Contract definition
Examples of Merchant Contract in a sentence
If the Force Majeure continues and no agreement can be reached by the Parties in good faith after a reasonable period of time, both Parties shall have the right to terminate the Merchant Contract immediately after the expiration of such a reasonable period of time.
The balance of the Merchant Settlement Account shall be paid on a net basis, i.e. after deduction of all amounts due under the Merchant Contract on the day of transfer, including all amounts due for settlement of all Payment Transactions (including fees, amounts due as Chargebacks and the Rebates and the Reserve Amount as described in Article 7.2 (Reserve) of these General Conditions and the Purchase Order.
For each Merchant Account that is to be activated under this Merchant Contract, a Merchant ID / PSPID need to be chosen.
The TDR can either be flat or ad valorem (as detailed in the Merchant Contract).
This Merchant Contract (including all annexes) contains the entire agreement and understanding between the parties.
ASIAN CHECKOUT is hereby authorized and entitled to debit the Merchant’s Account for TDR, charges, chargeback, penalties levied by Payment Method Provider and refund to Customers payable by Merchant to ASIAN CHECKOUT in terms of this Merchant Contract (in short as “Deductions”).
The Customer acknowledges that in connection with the Campus Cash Services performed by Transact, Transact may require that Campus Cash Merchants pay certain fees pursuant to the Merchant Contract, including but not limited to Merchant Discount Fees and other fees associated with the provision of merchant equipment, the processing of Cardholder transactions, customer service, and other applicable fees.
The Customer may not request the omission of any Target List merchants based solely on the proximity of such merchant to campus or the category of product/service offered by such merchant, except as expressly stated in this Section 8.7. Transact will execute a Merchant Contract with each qualified Campus Cash Merchant.
BAMSI shall have full responsibility for the -------------------- proper performance of the Merchant Processing Services under each Merchant Contract except for the obligations and responsibilities which the Bank assumes hereunder.
As between BAMSI and the Bank, BAMSI shall be responsible for all credit, fraud and other risks associated with each Merchant Contract.