Common use of BINS and ICAs Clause in Contracts

BINS and ICAs. Acquirer will arrange to make available a separate BIN and ICA to process and receive settlement funding of all DCC Transactions processed by Planet Payment in the Designated Territory. The costs of the procurement of such BIN and ICA, as well as any annual fees associated with such BIN and ICA, will accrue to the Program Costs. Planet Payment shall provide reasonable assistance to Acquirer in applying for the relevant BINs and ICAs and shall configure them as necessary to provide the Acquirer Program and to implement Acquirer’s reporting requirements for Visa and MasterCard Transaction settlement. Planet Payment agrees that such BINs and ICAs shall be used exclusively for the benefit of the Acquirer. At no time shall Planet Payment have access to any settlement proceeds relating to any BIN or ICA associated with Acquirer or any member.

BINS and ICAs. Acquirer will arrange to make available a separate BIN and ICA to process and receive settlement funding of all DCC Foreign Transactions processed by Planet Payment in the Designated Territory. The costs of the procurement of such BIN and ICA, as well as any annual fees associated with such BIN and ICA, will accrue to the Program Costs. Planet Payment shall provide reasonable assistance to Acquirer in applying for the relevant BINs and ICAs and shall configure them as necessary to provide the Acquirer Program and to implement Acquirer’s reporting requirements for Visa and MasterCard Transaction settlement. Planet Payment agrees that such BINs and ICAs shall be used exclusively for the benefit of the Acquirer. At no time shall Planet Payment have access to any settlement proceeds relating to any BIN or ICA associated with Acquirer or any member.