PAYMENT TO THE MERCHANT. 9.1 Subject to the terms of this Agreement, Xxxxxxx shall normally settle payment with the Merchant within a minimum of Five (5) business days which days are exclusive of the transaction day, following the day on which the transactions took place, the transaction amount less the commission for all the card transactions and mobile wallet transactions processed and accepted by Camirel for all Products/Services.
9.2 Net payments of transacted amount to the Merchant shall be made by Camirel to the account of the Merchant at their bank or their stated phone number which holds a valid mobile wallet.
9.3 Payment by Xxxxxxx shall be made without prejudice to any claims or rights that Camirel may have against the Merchant and shall not constitute any admission by Camirel as to the performance by the Merchant of its obligations under this Agreement and the amount payable to the Merchant.
9.4 All payments shall be made to the Merchant in Kenya Shillings only. No payments shall be made in any other currencies. Conversion of the Currency shall be done at the rate set out in the system and which may vary from time to time.
9.5 Camirel shall be entitled to set off and deduct from any payment due to the Merchant:
a) The amount of any refund due to any cardholder in accordance with the refund procedure set out below; and
b) Any overpayment made by Camirel due to computational, Exchange rate and/or system errors or any other circumstances that may cause such an error; and
c) Any other sums/commissions due from or payable by the Merchant to Camirel herein; and
9.6 If Camirel suspects, on reasonable ground and in its sole and exclusive opinion, that the Merchant has been negligent, or has committed a breach of this agreement or act/s of dishonesty or fraud against Camirel or any Cardholder, Camirel shall be entitled to suspend all payments under this agreement to the Merchant pending enquiries by Xxxxxxx and resolution of the same to Xxxxxxx's satisfaction.
PAYMENT TO THE MERCHANT. 9.1 Subject to the terms of this Agreement, Arronax shall normally settle to the Merchant a minimum of Five (5) business days (Monday to Friday) which days are exclusive of the transaction day, following the day on which the transactions took place, the transaction amount less the commission for all the card transactions and mobile wallet transactions processed and accepted by Arronax for all Products/Services.
9.2 Net payments to the Merchant shall be made by Arronax to the account of the Merchant at their bank or their stated phone number which holds a valid mobile wallet.
9.3 Payment by Arronax shall be made without prejudice to any claims or rights that Arronax may have against the Merchant and shall not constitute any admission by Arronax as to the performance by the Merchant of its obligations under this Agreement and the amount payable to the Merchant.
9.4 Arronax shall be entitled to set off and deduct from any payment due to the Merchant:
a) The amount of any refund due to any cardholder in accordance with the refund procedure set out below; and
b) Any overpayment made by Arronax due to computational, Exchange rate and/or system errors or any other circumstances that may cause such an error; and
c) Any other sums/commissions due from or payable by the Merchant to Arronax herein; and
9.5 If Arronax suspects, on reasonable ground and in its sole and exclusive opinion, that the Merchant has been negligent, or has committed a breach of this agreement or act/s of dishonesty or fraud against Arronax or any Cardholder, Arronax shall be entitled to suspend all payments under this agreement to the Merchant pending enquiries by Arronax and resolution of the same to Arronax's satisfaction.
PAYMENT TO THE MERCHANT. Art.
13.1 In case of changes to the costs charged by Financial Institutions, DDP may pass on such changes by revising the rates payable by the Merchant with effect from the date of the change. DDP shall notify the Merchant of such revision in advance.
13.2 DDP will deduct the rates agreed in the Agreement, as well as any penalties and costs that may be imposed on the Merchant or DDP by Financial Institutions, from the Transaction Amounts paid to the Merchant on a periodic basis. DDP will invoice non-recurring costs and monthly costs as agreed in the Agreement with effect from the Effective Date. By signing the Agreement, the Merchant authorizes DDP and, where necessary, Stichting foundation docdata payments to collect the outstanding amounts (DDP’s claim against the Merchant) from the bank account specified by the Merchant by means of a continuous direct debit mandate.
13.3 DDP will not pay the Transaction Amounts to the Merchant until the funds in question have been received from the Financial Institution in a bank account of Stichting foundation docdata payments.
PAYMENT TO THE MERCHANT. The Chamber will reimburse each participating Merchant who accepts a Chamber gift card for payment of goods and services by a Chamber check on the 15th and 30th of the month that the transactions take place. The Chamber reserves the right to change the payment schedule based on increased volume of transactions; however payment will never be less than once per month. The Chamber agrees to notify participating merchants of any and all schedule changes.
PAYMENT TO THE MERCHANT
