Common use of Asserted Errors Clause in Contracts

Asserted Errors. Merchant must promptly examine all statements relating to the Designated Account, and immediately notify Service Provider in writing of any asserted errors. Merchant’s written notice must include: (i) Merchant name and account number; (ii) the dollar amount of the asserted error, (iii) a description of the asserted error; and (iv) an explanation of why Merchant believes an error exists and the cause of it, if known. That written notice must be received by Service Provider within 30 calendar days after Merchant receives the periodic statement containing the asserted error. Merchant’s failure to notify Service Provider of any error within thirty (30) days constitutes a waiver of any claim relating to that error. Merchant may not make any claim against Service Provider relating to any asserted error for 60 calendar days immediately following Service Provider’s receipt of Merchant’s written notice. During that 60 day period, Service Provider will be entitled to investigate the asserted error.

Asserted Errors. Merchant Xxxxxxxx must promptly examine all statements relating to the Designated Account, and immediately notify Service Provider in writing of any asserted errors. Merchant’s written notice must include: (i) Merchant name and account number; (ii) the dollar amount of the asserted error, (iii) a description of the asserted error; and (iv) an explanation of why Merchant Xxxxxxxx believes an error exists and the cause of it, if known. That written notice must be received by Service Provider within 30 calendar days after Merchant Xxxxxxxx receives the periodic statement containing the asserted error. Merchant’s failure to notify Service Provider of any error within thirty (30) days constitutes a waiver of any claim relating to that error. Merchant may not make any claim against Service Provider relating to any asserted error for 60 calendar days immediately following Service Provider’s receipt of MerchantXxxxxxxx’s written notice. During that 60 day period, Service Provider will be entitled to investigate the asserted error.