Common use of Payments for Services Clause in Contracts

Payments for Services. BlueSnap will pay Merchant the total of (a) amounts received in the previous period settlement period by BlueSnap from Acquirers for Merchant transactions processed through BlueSnap Services to End-User Customers (“End-User Receipts”) less (b) (i) the BlueSnap Service Fee set forth in this Agreement for the transactions (“BlueSnap Service Fee”); (ii) all amounts paid or incurred by BlueSnap in the previous period in connection with Refunds; (iii) all amounts paid or incurred by BlueSnap in the previous period for Chargebacks; (iv) any Rolling Reserve; (v) any Holdbacks; (vi) applicable charges, fees and deductions to Merchant as referred to in the pricing and fees together with any taxes that may be charged and directly remitted by BlueSnap to relevant tax authorities as BlueSnap deems required but in the absence of which is Merchant’s sole responsibility and (vii) any other payments or charges to third parties, including licensing, distribution or payment processing fees, foreign exchange and management fees including commercial markups, a proportionate sum of any processor and/or Acquirer network fees BlueSnap incurs in connection with this Agreement or any transaction relating to this Agreement (the result of the calculation in (a), and (b), “Merchant Balance”). All sums owed by BlueSnap to Merchant shall be held in a non-interest bearing account managed by BlueSnap, pending release to Merchant in accordance with the payment terms of this Agreement. Merchant agrees to the payment of settlement funds being made from the Acquirer to BlueSnap. BlueSnap will collect payments from End-User Customers on behalf of Merchant as its limited agent. Pursuant to the terms hereof, BlueSnap will remit to Merchant all payments received from End-User Customers less any amounts owing to BlueSnap hereunder or as otherwise due or provided in this Agreement or BlueSnap Merchant Terms. Notwithstanding anything to the contrary, Merchant hereby appoints BlueSnap as its payment collection agent solely for the limited purpose of accepting funds from End-User Customers on its behalf in connection with Products that Merchant provides or sells to End-User Customers. Payment from an End-User Customer shall be considered the same as payment made directly to Merchant by the End-User Customer. Upon End-User Customer’s payment of the funds to BlueSnap, End-User Customer’s payment obligation to Merchant for an amount equal to the funds remitted to BlueSnap is terminated, and BlueSnap is instead responsible for remitting the funds to Merchant in the manner described in this Agreement. Merchant’s recourse is only against BlueSnap if BlueSnap fails to remit funds received from an End-User Customer pursuant to the terms hereof.

Payments for Services. BlueSnap will pay Merchant the total of (a) amounts received in the previous period settlement period by BlueSnap from Acquirers for Merchant transactions processed through BlueSnap Services to End-User Customers (“End-User Receipts”) less (b) (i) the BlueSnap Service Fee set forth in this Agreement for the transactions (“BlueSnap Service Fee”); (ii) all amounts paid or incurred by BlueSnap in the previous period in connection with Refunds; (iii) all amounts paid or incurred by BlueSnap in the previous period for Chargebacks; (iv) any Rolling Reserve; (v) any Holdbacks; (vi) applicable charges, fees and deductions to Merchant as referred to in the pricing and fees together with any taxes that may be charged and directly remitted by BlueSnap to relevant tax authorities as BlueSnap deems required but in the absence of which is Merchant’s sole responsibility and (vii) any other payments or charges to third parties, including licensing, distribution or payment processing fees, foreign exchange and management fees including commercial markups, a proportionate sum of any processor and/or Acquirer network fees BlueSnap incurs in connection with this Agreement or any transaction relating to this Agreement (the result of the calculation in (a), and (b), “Merchant Balance”). All sums owed by BlueSnap to Merchant shall be held in a non-interest bearing account managed by BlueSnap, pending release to Merchant in accordance with the payment terms of this Agreement. Merchant agrees to the payment of settlement funds being made from the Acquirer to BlueSnap. BlueSnap will collect payments from End-User Customers on behalf of Merchant as its limited agent. Pursuant to the terms hereof, BlueSnap will remit to Merchant all payments received from End-User Customers less any amounts owing to BlueSnap hereunder or as otherwise due or provided in this Agreement or BlueSnap Merchant Terms. Notwithstanding anything to the contrary, Merchant hereby appoints BlueSnap as its payment collection agent solely for the limited purpose of accepting funds from End-User Customers on its behalf in connection with Products that Merchant provides or sells to End-User Customers. Payment from an End-User Customer shall be considered the same as payment made directly to Merchant by the End-User Customer. Upon End-User Customer’s payment of the funds to BlueSnap, End-User Customer’s payment obligation to Merchant for an amount equal to the funds remitted to BlueSnap is terminated, and BlueSnap is instead responsible for remitting the funds to Merchant in the manner described in this Agreement. Merchant’s recourse is only against BlueSnap if BlueSnap fails to remit funds received from an End-User Customer pursuant to the terms hereof.

Payments for Services. BlueSnap will 10.1. The Applicant shall pay Merchant TFN the total of (a) amounts fees for services and prices for product received in from TFN Suppliers as agreed from time to time and as per the previous period settlement period by BlueSnap from Acquirers for Merchant transactions processed through BlueSnap Services to End-User Customers (“End-User Receipts”) less (b) (i) the BlueSnap Service Fee set forth in this Agreement for the transactions (“BlueSnap Service Fee”); (ii) all amounts paid or incurred by BlueSnap in the previous period in connection with Refunds; (iii) all amounts paid or incurred by BlueSnap in the previous period for Chargebacks; (iv) any Rolling Reserve; (v) any Holdbacks; (vi) applicable charges, fees and deductions to Merchant as referred to in the pricing official listing prices and fees together published on the TFN Website or management system from time to time or as announced and communicated by TFN from time to time to the Applicant through electronic mail or post mail delivered. 10.2. The Applicant acknowledges and accepts, with any taxes regards to deposits and payments, that may be charged TFN is not acting as a bank or financial institution; that TFN is not a deposit taking institution and directly remitted by BlueSnap that TFN will under no circumstances advance credit to relevant tax authorities as BlueSnap deems required but the Applicant or allow deferred payments on the Applicant account; 10.3. The Applicant, in the absence of which is Merchant’s sole responsibility and (vii) any other payments or charges to third parties, including licensing, distribution or payment processing fees, foreign exchange and management fees including commercial markups, a proportionate sum of any processor and/or Acquirer network fees BlueSnap incurs in connection with this Agreement or any transaction relating to this Agreement (the result of the calculation in (a), and (b), “Merchant Balance”). All sums owed by BlueSnap to Merchant shall be held in a non-interest bearing account managed by BlueSnap, pending release to Merchant in accordance with the payment terms of this Agreementagreement, appoints TFN as agent and payer service provider for the payment, on behalf of the Applicant and from funds in the Applicant account, of amounts due by the Applicant to TFN service providers for purchases and services incurred by the Applicant at TFN service providers. 10.4. Merchant The Applicant will only be entitled to repayment of deposits made in terms of this agreement in the event that TFN fail to provide the services as agreed in this agreement or with termination of this agreement as for provided herein. 10.5. The Applicant acknowledges and accepts that TFN and TFN’s appointed service providers may experience system failures from time to time, which means that TFN is not able to process transactions real time or update service provider systems with account balances or cards on hold; and that it may happen that transactions are processed off-line resulting that the Applicant account may go in credit, i.e., a shortfall; and that TFN have the right in terms of this agreement to request and demand from the Applicant an acceptable financial guarantee as security for the repayment of shortfall amounts caused by system failures or circumstances outside the control of TFN; and that the Applicant acknowledges and accepts that the financial guarantee is not for a credit limit or will not establish a credit limit on the Applicant’s account, but it is to protect TFN and TFN’s appointed service providers against any financial risks and losses in the event of system failures, whilst providing a service to the Applicant. 10.6. The Applicant undertakes and agrees to pay for services provided by TFN and for the products and services delivered by TFN’s appointed service providers in the TFN Supplier Network. 10.7. The Applicant acknowledges that it may happen from time to time that systems may go off-line and that transactions are processed off-line by means of a manual procedure (“manual transaction”) and agrees to the acceptance of such manual transactions on the proviso that the TFN Card or any other identification or access method used by TFN, together will the registered/appointed vehicle for that particular TFN Card, was present at the point of sale. 10.8. Fees and charges payable by the Applicant for services provided and delivered in terms of this agreement shall be confirmed in writing prior to entering into this agreement and subject to any changes during the currency of this agreement as provided in this agreement. 10.9. All deposits made by the Applicant into the Applicant’s TFN account shall be preferably by electronic transfer. Where deposits are made in cash the net amount after deducting cash deposit bank charges will be credited to the Applicant account. Deposits by cheque are not acceptable and not allowed under any circumstances. 10.10. The Applicant agrees and consents to TFN deducting all fees and charges due to TFN for services delivered in terms of this agreement from the Applicant’s pre-paid account or from rebates due and payable to the Applicant. 10.11. Where the Applicant operates on a pre-paid account basis it is the Applicant’s responsibility to ensure: 10.11.1. that there are sufficient funds available in the Applicant’s account for payment for services; 10.11.2. that deposits are made to the nominated bank account as prescribed by TFN from time to time; 10.11.3. that deposits are made during normal working hours, 08h00 to 16h30 Monday to Friday, using the unique account reference number assigned to the Applicant so as to enable TFN to identify and allocate the deposited funds without undue delay; 10.11.4. that proof of payment is forwarded to TFN for immediate processing of the deposit; 10.12. The net amount of the deposit received from the Applicant will be credited to the Applicant’s pre-paid account; 10.13. No interest will be paid in respect of credit balances in the Applicant’s pre-paid account. 10.14. Where the Applicant pays for services by bank fleet card the following will apply: 10.14.1. Rebates due and payable to the Applicant for the calendar month will be electronically paid before the 7th of the next month; 10.14.2. All fees and charges due to TFN for services delivered in terms of this agreement shall be deducted from rebate amounts due and payable to the Applicant; 10.14.3. The Applicant shall be responsible, payable immediately on demand, for the payment of settlement funds any amounts due as a result of a card payment rejected or not processed successfully, for whatever reason, or negligence by a service attendant to process the payment for a purchase, the result being made from that the Acquirer amount is still due and outstanding by the Applicant; 10.15. Where the Applicant make use of the fuel credit offered by Standard Bank Fleet Management “SBFM” in partnership with TFN, the Applicant acknowledges and hereby gives authorization and consent as follows: 10.15.1. TFN will present the TFN account related services of the Applicant, e.g., monthly account fee, due by the Applicant to BlueSnapTFN, to SBFM for processing against the Applicant's credit facility with SBFM and to be paid over to TFN; 10.15.2. BlueSnap TFN will collect payments from End-User Customers calculate and pay on behalf of Merchant the Applicant, on a monthly basis, the cents per litre “cpl” credit cost fee agreed and payable by the Applicant to SBFM for the fuel credit facility, which amount shall include VAT, as its limited agentprescribed and required by the Income Tax Act; 10.15.3. Pursuant In both instances in 10.15.1 and 10.15.2, TFN and SBFM act as agents for the Applicant to process and make the terms hereof, BlueSnap will remit payments for and on behalf of the Applicant; 10.16. The Applicant undertakes to Merchant sign all payments received from End-User Customers less and any documents necessary to enable TFN to recover any amounts owing due to BlueSnap hereunder or TFN by the Applicant for any of the services provided and delivered in terms of this agreement by TFN and its service providers. 10.17. TFN shall immediately suspend any and all services and hotlist TFN Cards with TFN’s appointed service providers where there are not sufficient funds in the Applicant’s account. 10.18. The balance as otherwise due or provided reflected in this Agreement or BlueSnap Merchant Terms. Notwithstanding anything to the contrary, Merchant hereby appoints BlueSnap TFN Management System is accepted as its payment collection agent solely the correct balance for the limited purpose of accepting funds from End-User Customers account management. Where there is a mistake on its behalf the Applicant account, TFN will rectify it with immediate effect. 10.19. TFN reserves the right to increase the fees and charges for services offered in connection with Products terms of this agreement, provided that Merchant provides or sells the Applicant is given at least one month’s notice prior to End-User Customers. Payment from an End-User Customer shall be considered the same as payment made directly to Merchant by the End-User Customer. Upon End-User Customer’s payment of the funds to BlueSnap, End-User Customer’s payment obligation to Merchant for an amount equal to the funds remitted to BlueSnap is terminated, implementation and BlueSnap is instead responsible for remitting the funds to Merchant in the manner described in this Agreement. Merchant’s recourse is only against BlueSnap if BlueSnap fails to remit funds received from an End-User Customer pursuant to the terms hereofactivation.

Payments for Services. BlueSnap will pay Merchant the total of (a) amounts received in the previous period settlement period by BlueSnap from Acquirers for Merchant transactions processed through BlueSnap Services to End-User Customers (“End-User Receipts”) less (b) (i) the BlueSnap Service Fee set forth in this Agreement for the transactions (“BlueSnap Service Fee”); (ii) all amounts paid or incurred by BlueSnap in the previous period in connection with Refunds; (iii) all amounts paid or incurred by BlueSnap in the previous period for Chargebacks; (iv) any Rolling “Reserve” (a percentage or fixed sum regularly held back and/or rolled over from payout to support refunds, cancellations, and avoid negative balances); (v) any Holdbacks; (vi) applicable charges, fees and deductions to Merchant as referred to in the pricing and fees together with any taxes that may be charged and directly remitted by BlueSnap to relevant tax authorities as BlueSnap deems required but in the absence of which is Merchant’s sole responsibility and (vii) any other payments or charges to third parties, including licensing, distribution or payment processing fees, foreign exchange and management fees including commercial markups, a proportionate sum of any processor and/or Acquirer network fees BlueSnap incurs in connection with this Agreement or any transaction relating to this Agreement (the result of the calculation in (a), and (b), “Merchant Balance”). All sums owed by BlueSnap to Merchant shall be held in a non-interest bearing account managed by BlueSnap, pending release to Merchant in accordance with the payment terms of this Agreement. Merchant Xxxxxxxx agrees to the payment of settlement funds being made from the Acquirer to BlueSnap. BlueSnap will collect payments from End-User Customers on behalf of Merchant as its limited agent. Pursuant to the terms hereof, BlueSnap will remit to Merchant all payments received from End-User Customers less any amounts owing to BlueSnap hereunder or as otherwise due or provided in this Agreement or BlueSnap Merchant TermsTerms and Conditions. Notwithstanding anything to the contrary, Merchant hereby appoints BlueSnap as its payment collection agent solely for the limited purpose of accepting funds from End-User Customers on its behalf in connection with Products that Merchant provides or sells to End-User Customers. Payment from an End-User Customer shall be considered the same as payment made directly to Merchant by the End-User Customer. Upon End-User Customer’s payment of the funds to BlueSnap, End-User Customer’s payment obligation to Merchant for an amount equal to the funds remitted to BlueSnap is terminated, and BlueSnap is instead responsible for remitting the funds to Merchant in the manner described in this Agreement. MerchantXxxxxxxx’s recourse is only against BlueSnap if BlueSnap fails to remit funds received from an End-User Customer pursuant to the terms hereof.