Common use of Account Monitoring Clause in Contracts

Account Monitoring. (a) Merchant acknowledges that Bank and Company will monitor Merchant’s daily deposit activity. The deposit activity must remain consistent with the monthly volume and average ticket amount approved or adjusted by Bank (“Risk Parameters”). If Merchant should exceed Risk Parameters, Merchant agrees to provide all documentation Bank or Company may require. Merchant agrees that Bank or Company may decline to deposit total Sales Draft dollar volume in excess of the approved monthly volume, and that Merchant may be subject to a 5% fee on all funds processed over the approved monthly volume. Merchant agrees that Bank or Company may, in its sole discretion, suspend Merchant’s Transaction deposits for any reasonable period of time required to investigate suspicious or unusual Transaction activity. Bank and Company shall make a good faith effort to notify Merchant promptly upon discovering that deposit activity exceeds the approved monthly volume or average ticket amount. Merchant agrees to pay $25.00 for each release of funds suspended by Bank or Company. Bank and Company shall have no liability for any losses, direct or indirect, that Merchant may attribute to any suspension of funds disbursement. (b) In the event of suspension of Transaction deposits by Bank or Company, Merchant agrees that a Security Processing Fee not to exceed 110% of the Transaction activity may be assessed. (c) If a batch is suspended by Bank or Company, Merchant acknowledges that the consumer’s product or service must be delivered just as if the Merchant has been paid. Further, if a batch or a Transaction is suspended, Merchant acknowledges that fees, including security fees, will be assessed by Bank or Company. (d) If Bank or Company, in its sole discretion, deems Merchant’s type of business a compliance risk to Bank or Company, Bank or Company may enroll Merchant in a third-party risk monitoring service (“Monitoring Service”) at Merchant’s sole expense. Merchant will either be notified in advance of underwriting approval of enrollment in a Monitoring Service and related expenses, or notified no less than 30 days in advance if Merchant has an open merchant account with Bank. Merchant‘s refusal to enroll in a Monitoring Service when mandated by Bank or Company may result in termination of this Agreement.

Account Monitoring. (a) Merchant acknowledges that Bank and Company will monitor Merchant’s daily deposit activity. The deposit activity must remain consistent with the monthly volume and average ticket amount approved or adjusted by Bank (“Risk Parameters”). If Merchant should exceed Risk Parameters, Merchant agrees to provide all documentation Bank or Company may require. Merchant agrees that Bank or Company may decline to deposit total Sales Draft dollar volume in excess of the approved monthly volume, and that Merchant may be maybe subject to a 5% fee on all funds processed over the approved monthly volume. Merchant Xxxxxxxx agrees that Bank or Company may, in its sole discretion, suspend Merchant’s Transaction deposits for any reasonable period of time required to investigate suspicious or unusual Transaction activity. Bank and Company shall make a good faith effort to notify Merchant promptly upon discovering that deposit activity exceeds the approved monthly volume or average ticket amount. Merchant Xxxxxxxx agrees to pay $25.00 for each release of funds suspended by Bank or Company. Bank and Company shall have no liability for any losses, direct or indirect, that Merchant may attribute to any suspension of funds disbursement. (b) In the event of suspension of Transaction deposits by Bank or Company, Merchant Xxxxxxxx agrees that a Security Processing Fee not to exceed 110% of the Transaction activity may be assessed. (c) If a batch is suspended by Bank or Company, Merchant acknowledges that the consumer’s product or service must be delivered just as if the Merchant has been paid. Further, if a batch or a Transaction is suspended, Merchant acknowledges that fees, including security fees, will be assessed by Bank or Company. (d) If Bank or Company, in its sole discretion, deems Merchant’s type of business a compliance risk to Bank or Company, Bank or Company may enroll Merchant in a third-party risk monitoring service (“Monitoring Service”) at Merchant’s sole expense. Merchant will either be notified in advance of underwriting approval of enrollment in a Monitoring Service and related expenses, or notified no less than 30 days in advance if Merchant has an open merchant account with Bank. Merchant‘s refusal to enroll in a Monitoring Service when mandated by Bank or Company may result in termination of this Agreement.

Account Monitoring. (a) Merchant acknowledges that Bank and Company Service Provider will monitor Merchant’s daily deposit activity. The deposit activity must remain consistent with to the monthly volume and average ticket amount implicitly approved or adjusted by Bank Service Provider (“Risk Parameters”). If Merchant should exceed Risk Parameters, Merchant agrees to provide all documentation Bank or Company may requireas set forth by Service Provider if so required. Merchant agrees that Bank or Company Service Provider may decline to not deposit total Sales Draft dollar volume in excess of the implicitly approved monthly volume, and that Merchant may be subject to a 5% fee on all funds processed over the approved monthly volumevolume limit. Merchant agrees that Bank or Company Service Provider may, in at its sole discretion, suspend Merchant’s Transaction T ransaction deposits for any reasonable period of time required to investigate suspicious or unusual Transaction T ransaction activity. Bank and Company Service Provider shall make a good faith effort to notify Merchant promptly upon discovering that deposit activity exceeds the approved monthly volume or average ticket amountimmediately. Merchant agrees to pay $25.00 for each release of funds suspended by Bank or CompanyService Provider. Bank and Company Service Provider shall have no liability for any losses, direct or indirect, that which Merchant may attribute to any suspension of funds disbursement. (b) In the event of suspension of Transaction deposits by Bank or CompanyService Provider, Merchant agrees that to a Security Processing Fee not to exceed 110% of the Transaction activity may be assessed. (c) If a batch is suspended by Bank or CompanyService Provider, Merchant acknowledges that the consumer’s product or service must be delivered just as if the Merchant has been paid. Further, if a batch or a Transaction is suspended, Merchant acknowledges that feesFees, including security fees, will be assessed by Bank or CompanyService Provider. (d) If Bank or CompanyAt sole discretion of Service Provider, in its sole discretion, deems if Merchant’s type of business is deemed a compliance risk to Bank or CompanyService Provider, Bank or Company Service Provider may enroll Merchant in a third-party risk monitoring service (“Monitoring Service”) at the sole expense of Merchant’s sole expense. Merchant will either be notified in advance of underwriting approval of enrollment in a Monitoring Service and related expenses, or notified no less than 30 days in advance if Merchant has an open merchant account with BankService Provider. Refusal of Merchant‘s refusal to enroll enrollment in a Monitoring Service when mandated by Bank or Company Service Provider, may result in be cause for termination of this Agreement.

Account Monitoring. (a) Merchant acknowledges that Bank and Company Service Provider will monitor Merchant’s daily deposit activity. The deposit activity must remain consistent with to the monthly volume and average ticket amount implicitly approved or adjusted by Bank Service Provider (“Risk Parameters”). If Merchant should exceed Risk Parameters, Merchant Xxxxxxxx agrees to provide all documentation Bank or Company may requireas set forth by Service Provider if so required. Merchant Xxxxxxxx agrees that Bank or Company Service Provider may decline to not deposit total Sales Draft dollar volume in excess of the implicitly approved monthly volume, and that Merchant may be subject to a 5% fee on all funds processed over the approved monthly volumevolume limit. Merchant Xxxxxxxx agrees that Bank or Company Service Provider may, in at its sole discretion, suspend Merchant’s Transaction deposits for any reasonable period of time required to investigate suspicious or unusual Transaction activity. Bank and Company Service Provider shall make a good faith effort to notify Merchant promptly upon discovering that deposit activity exceeds the approved monthly volume or average ticket amountimmediately. Merchant Xxxxxxxx agrees to pay $25.00 for each release of funds suspended by Bank or CompanyService Provider. Bank and Company Service Provider shall have no liability for any losses, direct or indirect, that which Merchant may attribute to any suspension of funds disbursement. (b) In the event of suspension of Transaction deposits by Bank or CompanyService Provider, Merchant Xxxxxxxx agrees that to a Security Processing Fee not to exceed 110% of the Transaction activity may be assessed. (c) If a batch is suspended by Bank or CompanyService Provider, Merchant acknowledges that the consumer’s product or service must be delivered just as if the Merchant has been paid. Further, if a batch or a Transaction is suspended, Merchant acknowledges that feesFees, including security fees, will be assessed by Bank or CompanyService Provider. (d) If Bank or CompanyAt sole discretion of Service Provider, in its sole discretion, deems if Merchant’s type of business is deemed a compliance risk to Bank or CompanyService Provider, Bank or Company Service Provider may enroll Merchant in a third-party risk monitoring service (“Monitoring Service”) at the sole expense of Merchant’s sole expense. Merchant will either be notified in advance of underwriting approval of enrollment in a Monitoring Service and related expenses, or notified no less than 30 thirty (30) days in advance if Merchant has an open merchant account with BankService Provider. Merchant‘s refusal to enroll Refusal of Merchant’s enrollment in a Monitoring Service when mandated by Bank or Company Service Provider, may result in be cause for termination of this Agreement.