Common use of Business Recovery Process Clause in Contracts

Business Recovery Process. A Merchant must have a business recovery procedure that supports protection and retention of the Merchant’s records in a contingency. For example, if a technical problem results in a Terminal losing memory of a stored payment instruction awaiting delivery to the System, the Merchant must have another way of retaining a record of the payment instruction.

Appears in 6 contracts

Samples: Merchant Agreement, Merchant Agreement, Terms and Conditions

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!