Common use of Shortfall Clause in Contracts

Shortfall. In the unlikely event, a transaction is completed when there are insufficient funds in the E-wallet for that transaction (a "Shortfall"), the Shortfall shall be reimbursed by you unless it is due to an error on the part of the Merchant where the Card was presented, in this circumstance we may seek the Shortfall from the Merchant. You agree that once we make this Shortfall known to you, we may charge you for the Shortfall amount and deduct the amount from the balance of funds loaded into the E-wallet or from your linked Funding Source. We may also charge the amount of the Shortfall from any other Cards that you hold with us, or any other payment method which you may designate at that time, or against any funds which you may subsequently load into the E-wallet. Until we are reimbursed the Shortfall amount, we may suspend the E-wallet and the Card. In addition, we reserve the right to charge you an administration fee for each transaction that you make using the E-wallet and/or Card that results in a Shortfall or increases the Shortfall amount on the E-wallet.

Appears in 6 contracts

Samples: secure.baanx.co.uk, world-premium.de, ikualo.com

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