PG (Payment Gateway) Fee definition
PG (Payment Gateway) Fee means any and all fees or commissions that is to be paid to the 3rd party Payment Gateway services for collection of revenues from the End Users within the Territory. The Parties agree that the maximum rate for each PG Fee shall not exceed 25% of the Gross Revenue earned from transaction with each PG. If the Parties decide that a PG Fee rate shall be higher than 25%, then both Parties shall make mutual written amendment to this Agreement for setting the related terms and conditions. Each PG fee rate may be applied as set forth on Exhibit A. Further, any and all changes that may occur to any of these rates shall be immediately informed to Licensor via written statement.