Rolling Reserve Amount definition
Rolling Reserve Amount. Means the amount withheld from any settlement of payment volumes by the Service Provider dedicated to mitigate risk and settle any chargeback or any other amount that the Service Provider/ Bank loses due to disputes or claims or expenses incurred on Merchant with relation to the agreed on services.
Examples of Rolling Reserve Amount in a sentence
Any charges to the Merchant for the services provided by the Service Provider as agreed on between the Service Provider and the Merchant; Fines: Any amount imposed on the Service Provider for excessive chargebacks or breach of Card Association rules by the acquiring Bank or a Card Association as a result of the Merchant activities; Financial Guarantee: Means a Guarantee provided by the Merchant to enhance/ supplement/ replace the Rolling Reserve Amount required by the Service Provider.