CHARGEBACKS FOR WITHDRAWALS Sample Clauses
The 'Chargebacks for Withdrawals' clause establishes the rules and procedures for reversing or reclaiming funds that have been previously withdrawn, typically in the context of payment processing or financial transactions. In practice, this clause outlines the circumstances under which a chargeback may occur, such as when a withdrawal is later found to be unauthorized, fraudulent, or in violation of the agreement's terms. For example, if a customer withdraws funds and the transaction is subsequently disputed or found to be invalid, the clause allows the service provider to recover those funds. The core function of this clause is to protect the financial interests of the service provider by providing a mechanism to address and rectify improper or contested withdrawals.
CHARGEBACKS FOR WITHDRAWALS. The following commission chargebacks shall apply on full or partial withdrawals (excluding withdrawals made pursuant to the Systematic Withdrawal Program that are within the 10% Free Withdrawal Privilege): o 100% for full or partial withdrawal of a Purchase Payment made during the first six months following its receipt; and
CHARGEBACKS FOR WITHDRAWALS. The following commission chargebacks --------------------------- shall apply with respect to full or partial withdrawals (excluding withdrawals made pursuant to the Systematic Withdrawal Program that are within the 10% Free Withdrawal Privilege); . 100% of original commissions paid with respect to the amount of Purchase Payments up to the amount of the full or partial withdrawal of a Purchase Payment made during the first six months following its receipt; and . 50% of original commissions paid with respect to the amount of Purchase Payments up to the amount of the full or partial withdrawal of a Purchase Payment made during the next six months following its receipt.
CHARGEBACKS FOR WITHDRAWALS. A commission chargeback of 50% shall apply for full or partial withdrawal of a purchase payment made during the twelve months following its receipt (excluding withdrawals made pursuant to the Systematic Withdrawal Program that are within the Free Withdrawal Privilege, as defined in the Certificate).
CHARGEBACKS FOR WITHDRAWALS. The following commission chargebacks shall --------------------------- apply on full or partial withdrawals: (excluding withdrawals made pursuant to the Systematic Withdrawal Program that are within the 20% Free Withdrawal Privilege, as defined in the Contract): . 100% for full or partial withdrawal of a Purchase Payment made during the first six months following its receipt; and . 50% for full or partial withdrawal of a Purchase Payment made during the next six months following its receipt. . if the Contract is annutized within the first 24 months following issue date, a 50% commission chargeback will will be assessed.. In no event shall any commission adjustment or chargeback be assessed for termination of a Contract because of the death of the Annuitant or Owner during the periods specified above.