Common use of AUTHORIZATION RETRIEVAL REQUESTS Clause in Contracts

AUTHORIZATION RETRIEVAL REQUESTS. Whereby a financial institution, regulatory or law enforcement agency, or similar authority has demanded from Paya-EFT proof of valid consumer authorization, in accordance with NACHA ACH Rules, Merchant shall provide said proof of authorization to Paya-EFT within (10) business days. In the event that Merchant cannot provide the appropriate consumer authorization, and Paya-EFT suffers a penalty enforced by NACHA, Paya-EFT shall have the right to offset such penalty and charge Merchant a minimum of ($1000 per instance and up to a maximum of $100,000 per month until the problem is resolved.

AUTHORIZATION RETRIEVAL REQUESTS. Whereby a financial institution, regulatory or law enforcement agency, or similar authority has demanded from Paya-EFT proof of valid consumer authorization, in accordance with NACHA ACH Rules, Merchant MERCHANT shall provide said proof of authorization to Paya-EFT within (102) business days. In the event that Merchant MERCHANT cannot provide the appropriate consumer authorization, and Paya-EFT suffers a penalty enforced by NACHA, Paya-EFT shall have the right to offset such penalty and charge Merchant MERCHANT a minimum of ($1000 per instance and up to a maximum of $100,000 per month until the problem is resolved.

AUTHORIZATION RETRIEVAL REQUESTS. Whereby a financial institution, regulatory or law enforcement agency, or similar authority has demanded from Paya-EFT proof of valid consumer authorization, in accordance with NACHA ACH Rules, Merchant MERCHANT shall provide said proof of authorization to Paya-EFT within (102) business days. In the event that Merchant MERCHANT cannot provide the appropriate consumer authorization, and Paya-EFT suffers a penalty enforced by NACHA, Paya-EFT shall have the right to offset such penalty and charge Merchant MERCHANT a minimum of ($1000 per instance and up to a maximum of $100,000 per month until the problem is resolved.

AUTHORIZATION RETRIEVAL REQUESTS. Whereby a financial institution, regulatory or law enforcement agency, or similar authority has demanded from Paya-EFT proof of valid consumer authorization, in accordance with NACHA ACH Rules, Merchant MERCHANT shall provide said proof of authorization to Paya-EFT within (102) business days. In the event that Merchant MERCHANT cannot provide the appropriate consumer authorization, and Paya-EFT suffers a penalty enforced by NACHA, Paya-EFT shall have the right to offset such penalty and charge Merchant MERCHANT a minimum of ($1000 per instance and up to a maximum of $100,000 per month until the problem is resolved.

AUTHORIZATION RETRIEVAL REQUESTS. Whereby a financial institution, regulatory or law enforcement agency, or similar authority has demanded from Paya-EFT proof of valid consumer authorization, in accordance with NACHA ACH Rules, Merchant MERCHANT shall provide said proof of authorization to Paya-EFT within (102) business days. In the event that Merchant MERCHANT cannot provide the appropriate consumer authorization, and Paya-EFT suffers a penalty enforced by NACHA, Paya-EFT shall have the right to offset such penalty and charge Merchant MERCHANT a minimum of ($1000 per instance and up to a maximum of $100,000 per month until the problem is resolved.