Common use of Account with Merchant’s Bank Clause in Contracts

Account with Merchant’s Bank. (A) The Merchant shall designate an account, or accounts, (known as the Merchant Account) for the purpose of mada -POS transactions with The Merchant’s Bank. The Merchant confirms that it has an existing and ongoing commercial relationship with The Banque Saudi Fransi (Acquiring Bank) and further authorises The Banque Saudi Fransi (Acquiring Bank) to disclose this relationship to the banking authorities for The Merchant’s registration to mada.

Account with Merchant’s Bank. (A) a. The Merchant shall designate an account, or accounts, (known as the Merchant Account) for the purpose of mada -POS Saudi payment- POS transactions with The Merchant’s Bank. The Merchant confirms that it has an existing and ongoing commercial relationship with The Banque Saudi Fransi (Acquiring Bank) Bank and further authorises authorizes The Banque Saudi Fransi (Acquiring Bank) Bank to disclose this relationship to the banking authorities for The Merchant’s registration to madaSaudi payment.

Account with Merchant’s Bank. (A) The Merchant shall designate an account, or accounts, (known as the Merchant Account) for the purpose of mada -POS transactions with The Merchant’s Bank. The Merchant confirms that it has an existing and ongoing commercial relationship with The Banque Saudi Fransi (Acquiring Bank) Bank and further authorises The Banque Saudi Fransi (Acquiring Bank) Bank to disclose this relationship to the banking authorities for The Merchant’s registration to mada.