Common use of Payment To Merchant By Clause in Contracts

Payment To Merchant By. SPS-EFT. Merchant acknowledges that this Agreement provides for the provisional settlement of Merchant’s transactions, subject to certain terms and conditions, fees, credit transactions, contingent claims for chargebacks, adjustments and final settlement including but not limited to those enumerated herein. All payments to Merchant under this Agreement shall be made by SPS-EFT through the ACH and shall normally be electronically transmitted directly to Merchant’s designated account. However, SPS-EFT cannot guarantee the timeliness with which any payment may be credited by Merchant’s bank. Merchant understands that due to the nature of the ACH and the electronic networks involved, and the fact that not all banks belong to an ACH, payment to Merchant can be delayed through no fault of SPS-EFT. In such cases, Merchant agrees to work with SPS-EFT to help resolve any problems in crediting Merchant’s designated account. In the event that a payment is rejected by Merchant’s bank or fails to arrive within three (3) days from the date of the confirmed Batch Out due to problems beyond SPS-EFT’S control, SPS-EFT may periodically wire transfer all funds due Merchant until the problem is corrected, at Merchant’s expense. All payments to Merchant shall be made after first deducting therefrom any discount fee, transaction fee, credit, chargeback, reserve or other fee or charge for which Merchant is responsible pursuant to this Agreement. At SPS-EFT’s sole discretion, said charges and fees shall be deducted from incoming transactions or may be debited through the ACH against Merchant’s designated account, without further notice or demand.

Payment To Merchant By. SPS-EFT. Merchant acknowledges that this Agreement provides for the provisional settlement of Merchant’s transactions, subject to certain terms and conditions, fees, credit transactions, contingent claims for chargebacks, adjustments and final settlement including but not limited to those enumerated herein. All payments to Merchant under this Agreement shall be made by SPS-EFT through the ACH and shall normally be electronically transmitted directly to Merchant’s designated account. However, SPS-EFT cannot guarantee the timeliness with which any payment may be credited by MerchantXxxxxxxx’s bank. Merchant Xxxxxxxx understands that due to the nature of the ACH and the electronic networks involved, and the fact that not all banks belong to an ACH, payment to Merchant can be delayed through no fault of SPS-EFT. In such cases, Merchant Xxxxxxxx agrees to work with SPS-EFT to help resolve any problems in crediting MerchantXxxxxxxx’s designated account. In the event that a payment is rejected by MerchantXxxxxxxx’s bank or fails to arrive within three (3) days from the date of the confirmed Batch Out due to problems beyond SPS-EFT’S control, SPS-EFT may periodically wire transfer all funds due Merchant until the problem is corrected, at Merchant’s expense. All payments to Merchant shall be made after first deducting therefrom any discount fee, transaction fee, credit, chargeback, reserve or other fee or charge for which Merchant is responsible pursuant to this Agreement. At SPS-EFT’s sole discretion, said charges and fees shall be deducted from incoming transactions or may be debited through the ACH against MerchantXxxxxxxx’s designated account, without further notice or demand.