Common use of Establishment Closing Clause in Contracts

Establishment Closing. If a Merchant closes any of its Establishments, Merchant must follow these guidelines: 1. Notify payment processing company immediately. 2. Policies must be conveyed to the Card Member prior to completion of the Charge and printed on the copy of a receipt or Charge Record the Card Member signs. See “Return and Cancellation Policies” of the Merchant Requirements for additional information. 3. If not providing refunds or exchanges, post notices indicating that all sales are final (e.g., at the front doors, by the cash registers, on the Charge Record and on websites and catalogs). 4. Return and cancellation policies must be clearly disclosed at the time of sale. 5. For Advance Payment Charges or Delayed Delivery Charges, delivery of the goods or services which have already charged to the Card Member is required or Credit must be issued for any portion of the Charge for the goods or services not delivered. registration form must be received by Processor prior to