Common use of The Foundation Clause in Contracts

The Foundation. 10.1 The Foundation acts as a Buckaroo-appointed custodian of funds received by Merchants and other parties and manager of the Clients' Account and makes/forwards payments at Buckaroo’s request. The Merchant does not have an agreement with the Foundation. If the Foundation makes a payment to the Merchant, Buckaroo’s obligation to forward payments to the Merchant is reduced by an equal amount.

Appears in 5 contracts

Samples: www.buckaroo.eu, www.buckaroo.eu, www.buckaroo.eu

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