Common use of Deposit Requirements and Restrictions Clause in Contracts

Deposit Requirements and Restrictions. Merchant must deposit only transactions that directly result from cardholder transactions with Merchant. However, a Merchant Servicer which acts in the capacity of an Internet Payment Service Provider (IPSP) or Payment Facilitator (PF) or Payment Service Provider (PSP) in accordance with the applicable Operating Rules, may deposit transaction receipts on behalf of Merchant, as long as such Merchant Servicer has been approved in advance by the Merchant Bank (in accordance with the provisions of this Agreement including but not limited to Section 7.f) to act in such IPSP, PF or PSP capacity for the Merchant. Except as otherwise set forth in the Operating Rules: such Merchant Servicer’s name may appear in the clearing record only if both these conditions are met: Cardholder accesses the web site of the Merchant Servicer directly, and the name of the Merchant Servicer is visible to the cardholder during the selection, order, and payment processing services; if the cardholder accesses the Merchant’s web site and is then linked to the web site of the Merchant Servicer for payment, the Merchant Servicer’s name must appear in the clearing record in conjunction with the Merchant’s name. Merchant must not deposit a transaction until it does one of the following: (a) completes the transaction, (b) ships or provides the goods, (c) performs the purchased service, or (d) obtains the cardholder’s consent for a recurring transaction. Merchant may deposit a prepayment, within the time limits specified in Section 0.x.xx below, if the Merchant advises the cardholder of the immediate billing at the time of the transaction, for (1) Prepayment of services, excluding estimates for services to be provided, and (2) Full prepayment of custom-ordered merchandise, manufactured to the cardholder’s specifications. For prepayment of services, the transaction date is considered to be the date of cardholder prepayment. An Advance Payment Service Merchant must only deposit a transaction representing a partial or complete advance payment, provided Merchant informs the cardholder of the following, (1) Total price of the services or activity, (2) Advance payment amount, (3) Advance payment confirmation code, and (4) Cancellation terms. For more information on restrictions related to Advance Payment Service transactions, see the Special Services Addendum, section 2. In the case of Installment Billing Transactions, Merchant must not deposit the first Installment Billing Transaction with Bank until the shipment date of the goods. The Merchant must deposit subsequent Installment Billing Transaction Receipts at either of the following intervals: (1) 30 calendar days or more; or (2) Monthly anniversary of the shipment date (same day of each month). For more information on restrictions related to Installment Billing Transactions, see the Card Not Present (CNP) Addendum, section 5. If Merchant has multiple outlets, Merchant must ensure that Processor and Merchant Bank are able to: 1) Identify the location of each transaction on the transaction receipt, and 2) Include this identification in the clearing record.

Deposit Requirements and Restrictions. Merchant must deposit only transactions that directly result from cardholder Cardholder transactions with Merchant. However, a Merchant Servicer which acts in the capacity of an Internet Payment Service Provider (IPSP) or Payment IPSP),Payment Facilitator (PF) ), or Payment Service Provider (PSP) in accordance with the applicable Operating Rules, may deposit transaction receipts on behalf of Merchant, as long as such Merchant Servicer has been approved in advance by the Merchant Bank (in accordance with the provisions of this Agreement Agreement, including but not limited to Section 7.fto, Paragraph 7(f)) to act in such IPSP, PF or PSP capacity for the Merchant). Except as otherwise set forth in the Operating Rules: such Merchant Servicer’s name may appear in the clearing record only if both these of the following conditions are met: (i) Cardholder accesses the web site of the Merchant Servicer directly, and (ii) the name of the Merchant Servicer is visible to the cardholder Cardholder during the selection, order, and payment processing services; if . If the cardholder Cardholder accesses the Merchant’s web site website and is then linked to the web site of the Merchant Servicer for payment, the Merchant Servicer’s name must appear in the clearing record in conjunction with the Merchant’s name. Merchant must not deposit a transaction until it does one of the following: (a) completes the transaction, (b) ships or provides the goods, (c) performs the purchased service, or (d) obtains the cardholderCardholder’s consent for a recurring transactionRecurring Transaction. Merchant may deposit a prepayment, within the time limits specified in Section 0.x.xx Paragraph 4(a)(vi) below, if the Merchant advises the cardholder Cardholder of the immediate billing at the time of the transaction, for (1) Prepayment of services, excluding estimates for services to be provided, and (2) Full prepayment of custom-ordered custom‐ordered merchandise, manufactured to the cardholderCardholder’s specifications. For prepayment of services, the transaction date is considered to be the date of cardholder Cardholder prepayment. An Advance Payment Service Merchant must only deposit a transaction representing a partial or complete advance payment, provided Merchant informs the cardholder Cardholder of the following, : (1) Total price of the services or activity, (2) Advance payment amount, (3) Advance 3)Advance payment confirmation code, and (4) Cancellation terms. For more information on restrictions related to Advance Payment Service transactions, see the Special Services Addendum, section Paragraph 2. In the case of Installment Billing Transactions, Merchant must not deposit the first Installment Billing Transaction with Bank until the shipment date of the goods. The Merchant must deposit subsequent Installment Billing Transaction Receipts at either of the following intervals: (1) 30 calendar days or more; or (2) Monthly anniversary of the shipment date (same day of each month). For more information on restrictions related to Installment Billing Transactions, see the Card Not Present (CNP) Addendum, section 5. If Merchant has multiple outlets, Merchant must ensure that Processor and Merchant Bank are able to: 1) Identify the location of each transaction on the transaction receipt, and 2) Include this identification in the clearing record.:

Deposit Requirements and Restrictions. Merchant must deposit only transactions that directly result from cardholder Cardholder transactions with Merchant. However, a Merchant Servicer which acts in the capacity of an Internet Payment Service Provider (IPSP) or Payment IPSP),Payment Facilitator (PF) ), or Payment Service Provider (PSP) in accordance with the applicable Operating Rules, may deposit transaction receipts on behalf of Merchant, as long as such Merchant Servicer has been approved in advance by the Merchant Bank (in accordance with the provisions of this Agreement Agreement, including but not limited to Section 7.fto, Paragraph 7(f)) to act in such IPSP, PF or PSP capacity for the Merchant). Except as otherwise set forth in the Operating Rules: such Merchant Servicer’s name may appear in the clearing record only if both these of the following conditions are met: (i) Cardholder accesses the web site of the Merchant Servicer directly, and (ii) the name of the Merchant Servicer is visible to the cardholder Cardholder during the selection, order, and payment processing services; if . If the cardholder Cardholder accesses the Merchant’s web site website and is then linked to the web site of the Merchant Servicer for payment, the Merchant Servicer’s name must appear in the clearing record in conjunction with the Merchant’s name. Merchant must not deposit a transaction until it does one of the following: (a) completes the transaction, (b) ships or provides the goods, (c) performs the purchased service, or (d) obtains the cardholderCardholder’s consent for a recurring transactionRecurring Transaction. Merchant may deposit a prepayment, within the time limits specified in Section 0.x.xx Paragraph 4(a)(vi) below, if the Merchant advises the cardholder Cardholder of the immediate billing at the time of the transaction, for (1) Prepayment of services, excluding estimates for services to be provided, and (2) Full prepayment of custom-ordered custom‐ordered merchandise, manufactured to the cardholderCardholder’s specifications. For prepayment of services, the transaction date is considered to be the date of cardholder Cardholder prepayment. An Advance Payment Service Merchant must only deposit a transaction representing a partial or complete advance payment, provided Merchant informs the cardholder Cardholder of the following, : (1) Total price of the services or activity, (2) Advance payment amount, (3) Advance 3)Advance payment confirmation code, and (4) Cancellation terms. For more information on restrictions related to Advance Payment Service transactions, see the Special Services Addendum, section Paragraph 2. In the case of Installment Billing Transactions, Merchant must not deposit the first Installment Billing Transaction with Bank until the shipment date of the goods. The Merchant must deposit subsequent Installment Billing Transaction Receipts at either of the following intervals: (1) 30 calendar days or more; or (2) Monthly monthly anniversary of the shipment date (same day of each month). For more information on restrictions related to Installment Billing Transactions, see the Card Not Present (CNP) Addendum, section Paragraph 5. If Merchant has multiple outlets, Merchant must ensure that Processor and Merchant Bank are able to: 1) Identify the location of each transaction on the transaction receipt, and 2) Include this identification in the clearing record.

Deposit Requirements and Restrictions. Merchant must deposit only transactions that directly result from cardholder transactions with Merchant. However, a Merchant Servicer which acts in the capacity of an Internet Payment Service Provider (IPSP) or Internet Payment Facilitator (IPF)or Payment Facilitator (PF) or Payment Service Provider (PSP) in accordance with the applicable Operating Rules, may deposit transaction receipts on behalf of Merchant, as long as such Merchant Servicer has been approved in advance by the Merchant Bank (in accordance with the provisions of this Agreement including but not limited to Section 7.f) to act in such IPSP, IPF, PF or PSP capacity for the Merchant. Except as otherwise set forth in the Operating Rules: such Merchant Servicer’s name may appear in the clearing record only if both these conditions are met: Cardholder accesses the web site of the Merchant Servicer directly, and the name of the Merchant Servicer is visible to the cardholder during the selection, order, and payment processing services; if the cardholder accesses the Merchant’s web site and is then linked to the web site of the Merchant Servicer for payment, the Merchant Servicer’s name must appear in the clearing record in conjunction with the Merchant’s name. Merchant must not deposit a transaction until it does one of the following: (a) completes the transaction, (b) ships or provides the goods, (c) performs the purchased service, or (d) obtains the cardholder’s consent for a recurring transaction. Merchant may deposit a prepayment, within the time limits specified in Section 0.x.xx below, if the Merchant advises the cardholder of the immediate billing at the time of the transaction, for (1) Prepayment of services, excluding estimates for services to be provided, and (2) Full prepayment of custom-ordered merchandise, manufactured to the cardholder’s specifications. For prepayment of services, the transaction date is considered to be the date of cardholder prepayment. An Advance Payment Service Merchant must only deposit a transaction representing a partial or complete advance payment, provided Merchant informs the cardholder of the following, (1) Total price of the services or activity, (2) Advance payment amount, (3) Advance payment confirmation code, and (4) Cancellation terms. For more information on restrictions related to Advance Payment Service transactions, see the Special Services Addendum, section 2. In the case of Installment Billing Transactions, Merchant must not deposit the first Installment Billing Transaction with Bank until the shipment date of the goods. The Merchant must deposit subsequent Installment Billing Transaction Receipts at either of the following intervals: (1) 30 calendar days or more; or (2) Monthly anniversary of the shipment date (same day of each month). For more information on restrictions related to Installment Billing Transactions, see the Card Not Present (CNP) Addendum, section 5. If Merchant has multiple outlets, Merchant must ensure that Processor and Merchant Bank are able to: 1) Identify the location of each transaction on the transaction receipt, and 2) Include this identification in the clearing record.

Deposit Requirements and Restrictions. Merchant must deposit only transactions that directly result from cardholder transactions with Merchant. However, a Merchant Servicer which acts in the capacity of an Internet Payment Service Provider (IPSP) or Payment Facilitator (PF) or Payment Service Provider (PSP) in accordance with the applicable Operating Rules, may deposit transaction receipts on behalf of Merchant, as long as such Merchant Servicer has been approved in advance by the Merchant Bank (in accordance with the provisions of this Agreement including but not limited to Section 7.f) to act in such IPSP, PF or PSP capacity for the Merchant. Except as otherwise set forth in the Operating Rules: such Merchant Servicer’s name may appear in the clearing record only if both these conditions are met: Cardholder accesses the web site of the Merchant Servicer directly, and the name of the Merchant Servicer is visible to the cardholder during the selection, order, and payment processing services; if the cardholder accesses the Merchant’s web site and is then linked to the web site of the Merchant Servicer for payment, the Merchant Servicer’s name must appear in the clearing record in conjunction with the Merchant’s name. Merchant must not deposit a transaction until it does one of the following: (a) completes the transaction, (b) ships or provides the goods, (c) performs the purchased service, or (d) obtains the cardholder’s consent for a recurring transaction. Merchant may deposit a prepayment, within the time limits specified in Section 0.x.xx below, if the Merchant advises the cardholder of the immediate billing at the time of the transaction, for (1) Prepayment of services, excluding estimates for services to be provided, and (2) Full prepayment of custom-ordered merchandise, manufactured to the cardholder’s specifications. For prepayment of services, the transaction date is considered to be the date of cardholder prepayment. An Advance Payment Service Merchant must only deposit a transaction representing a partial or complete advance payment, provided Merchant informs the cardholder of the following, (1) Total price of the services or activity, (2) Advance payment amount, (3) Advance payment confirmation code, and (4) Cancellation terms. For more information on restrictions related to Advance Payment Service transactions, see the Special Services Addendum, section 2. In the case of Installment Billing Transactions, Merchant Xxxxxxxx must not deposit the first Installment Billing Transaction with Bank until the shipment date of the goods. The Merchant must deposit subsequent Installment Billing Transaction Receipts at either of the following intervals: (1) 30 calendar days or more; or (2) Monthly anniversary of the shipment date (same day of each month). For more information on restrictions related to Installment Billing Transactions, see the Card Not Present (CNP) Addendum, section 5. If Merchant has multiple outlets, Merchant must ensure that Processor and Merchant Bank are able to: 1) Identify the location of each transaction on the transaction receipt, and 2) Include this identification in the clearing record.

Deposit Requirements and Restrictions. Merchant must deposit only transactions that directly result from cardholder Cardholder transactions with Merchant. However, a Merchant Servicer which acts in the capacity of an Internet Payment Service Provider (IPSP) or Payment IPSP),Payment Facilitator (PF) ), or Payment Service Provider (PSP) in accordance with the applicable Operating Rules, may deposit transaction receipts on behalf of Merchant, as long as such Merchant Servicer has been approved hasbeenapproved in advance by the Merchant Bank (in accordance with the withthe provisions of this Agreement Agreement, including but not limited to Section 7.fto, Paragraph 7(f)) to act in such IPSP, PF or PSP capacity for the Merchant). Except as otherwise set forth in the Operating Rules: such Merchant Servicer’s name may appear in the clearing record only if both these of the following conditions are met: (i) Cardholder accesses the web site of the Merchant Servicer directly, and (ii) the name of the Merchant Servicer is visible to the cardholder Cardholder during the selection, order, and payment processing services; if . If the cardholder Cardholder accesses the Merchant’s web site website and is then linked to the web site of the Merchant Servicer for payment, the Merchant Servicer’s name must appear in the clearing record in conjunction with the Merchant’s name. Merchant must not deposit a transaction until it does one of the following: (a) completes the transaction, (b) ships or provides the goods, (c) performs the purchased service, or (d) obtains the cardholderCardholder’s consent for a recurring transactionRecurring Transaction. Merchant may deposit maydeposit a prepayment, within the time limits specified in Section 0.x.xx Paragraph 4(a)(vi) below, if the Merchant advises the cardholder Cardholder of the immediate billing at the time of the transaction, for (1) Prepayment of services, excluding estimates for services to be provided, and (2) Full prepayment of custom-ordered custom‐ordered merchandise, manufactured to the cardholderCardholder’s specifications. For prepayment Forprepayment of services, the transaction date is considered to be the date of cardholder Cardholder prepayment. An Advance Payment Service Merchant must only deposit a transaction representing a partial or complete advance payment, provided Merchant informs the cardholder Cardholder of the following, : (1) Total price of the services or activity, (2) Advance payment amount, (3) Advance payment confirmation code, and (4) Cancellation terms. For more information on restrictions related to Advance Payment Service transactions, see the Special Services Addendum, section 2. In the case of Installment Billing Transactions, Merchant must not deposit the first Installment Billing Transaction with Bank until the shipment date of the goods. The Merchant must deposit subsequent Installment Billing Transaction Receipts at either of the following intervals: (1) 30 calendar days or more; or (2) Monthly anniversary of the shipment date (same day of each month). For more information on restrictions related to Installment Billing Transactions, see the Card Not Present (CNP) Addendum, section 5. If Merchant has multiple outlets, Merchant must ensure that Processor and Merchant Bank are able to: 1) Identify the location of each transaction on the transaction receipt, and 2) Include this identification in the clearing record.,