Common use of Electronic Transmittal of Sales Receipts Clause in Contracts

Electronic Transmittal of Sales Receipts. You will submit each Transaction for authorization via the approved means as provided in Section 6 hereof. The Bank shall authorize or decline such Transactions transmitted for authorization and shall capture and process for You the information relating to the Transaction. The information to be transmitted by You shall include, but not limited to, the information required on a sales receipt except for the description of the goods or services provided, and the Cardholder signature. You will include any additional information necessary for the Bank to comply with all Laws and Operating Regulations for billing Cardholders or as may from time to time be required by the Bank and/or the Card Issuer. Prior to the cut-off time established by the Bank, You will submit to the Bank for settlement that days amount Transactions (the “Batch”). The Bank will provisionally (subject to final payment of such Transactions) credit Your Operating Account in an amount equal to the Batch, less any fees or other amounts. This credit will not include (i) any Transactions initiated with an Authorization Only Card, since these are settled separately to You by the Card Issuer of the Authorization Only Card. Credits to Your Operating Account will be available on the business day following the receipt by the Bank of the Batch, unless the Bank has notified You of an alternate availability schedule. The Bank reserves the right to change the availability schedule from time to time, with any such change effective upon written notice to You. If You have not established an Operating Account at the Bank, You will be credited as the Bank shall deem appropriate. If You fail to initiate and submit a Batch, the Bank will not grant a credit for such day. In addition to information identifying You as the merchant, an appropriate installment Batch descriptor (e.g., 1 of 5, 2 of 5, etc.) must be included in the “merchant” name field of the Transaction clearing record.

Electronic Transmittal of Sales Receipts. You will If Merchant has electronic processing capabilities, Merchant shall submit each Approved Card Transaction for authorization via the approved means an electronic terminal as provided in Section 6 5 hereof. The Bank shall authorize or decline such Transactions transmitted for authorization and shall capture and process for You the Merchant the information relating to the Transaction. The information to be transmitted by You the Merchant through the terminal shall include, but shall not be limited to, the information required on a sales receipt except for excepting only the description of the goods or and services provided, and the Cardholder signature. You Merchant will include any additional information necessary for the Bank to comply with all Laws and Operating Regulations legal requirements for billing Cardholders or as may from time to time be required by the Bank and/or the Approved Card Issuerissuer. Prior Merchant is required to the cut-off time initiate and reconcile one or more Summary Transactions for each Merchant Terminal each day. If Merchant has established by the a deposit operating account at Bank, You will submit to the Bank for settlement that days amount Transactions (the “Batch”). The Bank will provisionally (subject to final payment of such Transactions) credit Your Operating Account Merchant’s deposit operating account in an amount equal to the Batchreconciled Summary Transaction total received prior to the cut-off time established by Bank, less any fees or other amounts. This credit will not include (i) any exclusive of Transactions initiated with an Authorization Only Card, of all Merchant’s terminals since these are settled separately to You by the Card Issuer of the Authorization Only Cardprevious credit including any adjustments. Credits to Your Operating Account Merchant’s deposit operating account will be available on the business day following the receipt by the Bank of the Batchreconciled Summary Transaction, unless the Bank has notified You Merchant of an alternate availability schedule. The Bank reserves the right to change the availability schedule from time to time, with any such change effective upon written notice to YouMerchant. If You have Merchant has not established an Operating Account a deposit operating account at the Bank, You Bank will be credited credit Merchant in such manner as the Bank shall deem appropriate. Upon receipt of a reconciled Summary Transaction total containing a Transaction initiated with an Authorization Only Card, Bank will transmit the Transactions initiated with an Authorization Only Card to the issuer of the Authorization Only Card, or its designated agent. If You fail the Merchant fails to initiate and submit reconcile a BatchSummary Transaction for any day, the Bank will not grant a credit for such day. In addition to information identifying You as the merchant, an appropriate installment Batch descriptor Merchant shall not process any Transaction until it receives written or electronic confirmation that (e.g., 1 of 5, 2 of 5, etc.i) must be included in the “merchant” name field of where the Transaction clearing recordinvolves sale of goods, the goods have been shipped or (ii) where the Transaction involves the provision of services, the services have been performed.