Common use of No Laundering Transactions Clause in Contracts

No Laundering Transactions. User may only submit transactions which result from the bona fide sale of goods and services from User to a Cardholder from its place of business set forth on the User Application. Submitting transactions or processing activity for a different business is strictly prohibited, and may violate state or federal law. Laundering schemes, in which a User is paid or otherwise used to submit or process transactions for a different person or company often result in substantial chargebacks and liability for User and are strictly prohibited