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.

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.