Common use of Payment Services Regulations Clause in Contracts

Payment Services Regulations. This Agreement applies to merchants of any size. However, you acknowledge and agree that, if at the time you enter into this Agreement, you are a “Large Enterprise” or “Large Charity” (as defined below), or you are otherwise capable of doing so, then you: • confirm that you are not a consumer, micro-enterprise or a charity within the meaning of the Payment Services Regulations or any equivalents thereof which have been implemented locally where you are incorporated; • agree that none of the provisions of Part 6 (Information requirements for payment services) of the Payment Services Regulations 2017 (or any equivalents thereof which have been implemented locally where you are incorporated) applies to this Agreement; • agree that regulations 66(1) (charges), 67(3) and (4) (withdrawal of consent), 75 (evidence on authentication and execution), 77 (payer or payee’s liability for unauthorised transactions), 79 (refunds for direct debits), 80 (requests for direct debit refunds), 83 (revocation of a payment order), 91 (defective execution of payer-initiated transactions), 92 (defective execution of payee- initiated transactions) and 94 (liability for charges and interest) of the Payment Services Regulations 2017 (or any equivalents thereof which have been implemented locally where you are incorporated) do not apply to this Agreement; and • agree that the time period for notifying us of any unauthorised or incorrectly executed payment transaction is any such period specified in this Agreement rather than the period specified in regulation 74(1) (notification of unauthorised or incorrectly executed payment transactions) of the Payment Services Regulations 2017 (or any equivalents thereof which have been implemented locally where you are incorporated). You acknowledge and agree that you are a “Large Enterprise” if: • your annual turnover and/or annual balance sheet total exceeds:

Payment Services Regulations. This Agreement applies to merchants of any size. However, you acknowledge and agree that, if at the time you enter into this Agreement, you are a “Large Enterprise” or “Large Charity” (as defined below), or you are otherwise capable of doing so, then you: •  confirm that you are not a consumer, micro-enterprise or a charity within the meaning of the Payment Services Regulations or any equivalents thereof which have been implemented locally where you are incorporated; •  agree that none of the provisions of Part 6 (Information requirements for payment services) of the Payment Services Regulations 2017 (or any equivalents thereof which have been implemented locally where you are incorporated) applies to this Agreement; •  agree that regulations 66(1) (charges), 67(3) and (4) (withdrawal of consent), 75 (evidence on authentication and execution), 77 (payer or payee’s liability for unauthorised transactions), 79 (refunds for direct debits), 80 (requests for direct debit refunds), 83 (revocation of a payment order), 91 (defective execution of payer-initiated transactions), 92 (defective defectiv e execution of payee- payee-initiated transactions) and 94 (liability for charges and interest) of the Payment Services Regulations 2017 (or any equivalents thereof which have been implemented locally where you are incorporated) do not apply to this Agreement; and •  agree that the time period for notifying us of any unauthorised or incorrectly executed payment transaction is any such period specified in this Agreement rather than the period specified in regulation 74(1) (notification of unauthorised or incorrectly executed payment transactions) of the Payment Services Regulations 2017 (or any equivalents thereof which have been implemented locally where you are incorporated). You acknowledge and agree that you are a “Large Enterprise” if: •  your annual turnover and/or annual balance sheet total exceeds:exceeds £2 million, if you enter into this Agreement prior to 1 January 2012; or €2 million (or sterling equivalent), if you enter into this Agreement on or after 1 January 2012; or  you have ten (10) or more employees, You acknowledge and agree that you are a “Large Charity” if:  you are a charity with an annual income of £1 million or more.

Payment Services Regulations. This Agreement applies to merchants of any size. However, you acknowledge and agree that, if at the time you enter into this Agreement, you are a “Large Enterprise” or “Large Charity” (as defined below), or you are otherwise capable of doing so, then you: •  confirm that you are not a consumer, micro-enterprise or a charity within the meaning of the Payment Services Regulations or any equivalents thereof which have been implemented locally where you are incorporated; •  agree that none of the provisions of Part 5 (Information requirements for payment services) of the Payment Services Regulations 2009, Part 6 (Information requirements for payment services) of the Payment Services Regulations 2017 (or any equivalents thereof which have been implemented locally where you are incorporated) applies to this Agreement; •  agree that regulations 54(1), 55(3), 55(4), 60, 62, 63, 64, 67, 75, 76 and 77 of the Payment Services Regulations 2009, and regulations 66(1) (charges), 67(3) and (4) (withdrawal of consent), 75 (evidence on authentication and execution), 77 (payer or payee’s liability for unauthorised transactions), 79 (refunds for direct debits), 80 (requests for direct debit refunds), 83 (revocation of a payment order), 91 (defective execution of payer-initiated transactions), 92 (defective execution of payee- initiated transactions) and 94 (liability for charges and interest) of the Payment Services Regulations 2017 (or any equivalents thereof which have been implemented locally where you are incorporated) do not apply to this Agreement; and •  agree that the time period for notifying us of any unauthorised or incorrectly executed payment transaction is any such period specified in this Agreement rather than the period specified in regulation 59 (1) of the Payment Services Regulations 2009, regulation 74(1) (notification of unauthorised or incorrectly executed payment transactions) of the Payment Services Regulations 2017 (or any equivalents thereof which have been implemented locally where you are incorporated). You acknowledge and agree that you are a “Large Enterprise” if: •  your annual turnover and/or annual balance sheet total exceeds:exceeds £2 million, if you enter into this Agreement prior to 1 January 2012; or €2 million (or sterling equivalent), if you enter into this Agreement on or after 1 January 2012; or  you have ten (10) or more employees, You acknowledge and agree that you are a “Large Charity” if:  you are a charity with an annual income of £1 million or more.

Payment Services Regulations. This Agreement applies to merchants of any size. However, you acknowledge and agree that, if at the time you enter into this Agreement, you are a “Large Enterprise” or “Large Charity” (as defined below), or you are otherwise capable of doing so, then you: • confirm that you are not a consumer, micro-enterprise or a charity within the meaning of the Payment Services Regulations or any equivalents thereof which have been implemented locally where you are incorporated; • agree that none of the provisions of Part 5 (Information requirements for payment services) of the Payment Services Regulations 2009, Part 6 (Information requirements for payment services) of the Payment Services Regulations 2017 (or any equivalents thereof which have been implemented locally where you are incorporated) applies to this Agreement; • agree that regulations 54(1), 55(3), 55(4), 60, 62, 63, 64, 67, 75, 76 and 77 of the Payment Services Regulations 2009, and regulations 66(1) (charges), 67(3) and (4) (withdrawal of consent), 75 (evidence on authentication and execution), 77 (payer or payee’s liability for unauthorised transactions), 79 (refunds for direct debits), 80 (requests for direct debit refunds), 83 (revocation of a payment order), 91 (defective execution of payer-initiated transactions), 92 (defective execution of payee- initiated transactions) and 94 (liability for charges and interest) of the Payment Services Regulations 2017 (or any equivalents thereof which have been implemented locally where you are incorporated) do not apply to this Agreement; and • agree that the time period for notifying us of any unauthorised or incorrectly executed payment transaction is any such period specified in this Agreement rather than the period specified in regulation 59 (1) of the Payment Services Regulations 2009, regulation 74(1) (notification of unauthorised or incorrectly executed payment transactions) of the Payment Services Regulations 2017 (or any equivalents thereof which have been implemented locally where you are incorporated). You acknowledge and agree that you are a “Large Enterprise” if: • your annual turnover and/or annual balance sheet total exceeds: