Payments on Proof of Delivery. Subject to the other provisions of this agreement, Cashlesso shall endeavour to instruct the Nodal/Escrow Bank to make payment of Customer Charge less the MDR to the Merchant within 2 business Days upon receipt of the same from the Acquiring Bank. Xxxxxxxx agrees that the payment of Customer Charge, less the MDR shall be made to the Merchant only upon actual receipt of Customer Charge by Nodal/Escrow Bank and upon reconciliation of funds by Acquiring Bank, Cashlesso and the Nodal/Escrow Bank. Provided, however that, the MDR may be revised periodically by Cashlesso, and Cashlesso will advise the Merchant of any such change as soon as practicable. The Merchant agrees that the Facility Providers and/or the Acquiring Banks reserve the rights to call for Dispatch Proof at any time and the Merchant agrees to comply with such requests forthwith. Dispatch Proof shall be maintained by the Merchant for a period of at least 18 months from the date of Delivery and shall be open to inspection by Cashlesso, the Facility Providers and the Acquiring Banks at all times. The Merchant shall bear and be responsible and liable for the payment of all of their relevant taxes (including any applicable withholding taxes) in relation to the payments made under this Agreement. Cashlesso will make all the possible efforts to settle the amount on T+2 basis to the Merchant’s account however in any situation where the amount is not settled by the Acquiring Bank/Payment partner to the Cashlesso’s account there can be a delay in settling this amount to the Merchant’s account.
Payments on Proof of Delivery. Subject to the provisions provisions of this Agreement, the Master Merchant agrees to pay the Sub Merchant the Customer Charge less:
a. the sum of all Customer Charges denied, refused, or charged back by the Customer or the credit card service provider during the period;
b. all inquiries, disputes, cancellations and refunds processed on account of Sub-Merchant's Customer Charges during the period;
c. any taxes, penalties, rolling reserves, charges or other items reimbursable under any of the provisions of this Agreement or otherwise occurring during the period;
d. any amounts due which the Master Merchant is entitle to receive with respect to any other transactions with the Master Merchant;
e. any charges, penalties or any amount imposed by the Acquiring Banks or Facility providers upon the Master Merchant with respect to any transaction done through Sub Merchant’s site;
f. any bank fees, transaction fees or service penalty fees incurred by the Master Merchant due to charge backs or excessive refunds;
g. the Master Merchant’s transaction discount rates for all Products / Services sold on the Internet subject to the proof of Delivery being submitted to the Master Merchant whenever demanded and all inquiries, disputes, and refunds processed on account of Sub Merchant's Customer Charges during the period;
