Common use of Contracted Merchant Clause in Contracts

Contracted Merchant. Refers to and stands for natural persons or legal entity business enterprises, firms and companies which enter into a Contract Merchant Agreement with the International Card Organizations and/or the Bank, and sell all kinds of goods and/or services to the Card Holder, and/or may provide cash funds to the Bank Card holder in reliance upon this card and within the frame of authorization granted to it by the Bank. Visa International, MasterCard International and Joint ATM: Refer to the payment systems in which the Bank is enrolled as a member. Terms and expressions which are contained in the section titled “PROVISIONS REGARDING PAYMENT SERVICES” of this Agreement, but are not specifically defined shall have the meanings ascribed thereto in the Laws and Regulations pertaining to Payment and Securities Reconciliation Systems, Payment Services and Electronic Money Institutions. BANKING SERVICES AGREEMENT