Common use of Payments to Merchant for Valid Transactions Clause in Contracts

Payments to Merchant for Valid Transactions. (a) Bank will provide provisional credit to Merchant for each undisputed and valid Transaction which Merchant submits to Bank by crediting Merchant’s Settlement Account, provided Bank has received settlement for the valid Transaction through the Interchange procedures specified by the Card Association applicable to the Card used for the Transaction (Bank does not provide payment for all Card types for which Authorization services are provided). Bank is not obligated to provide provisional credit to Merchant for Transactions submitted that are not valid Transactions, and may suspend or discontinue any provisional credit in Merchant Bank’s and/or Processor’s sole and absolute discretion, including for any reason that would justify termination of this Merchant Agreement. Each provisional credit from Bank to Merchant will be subject to adjustment, including revocation, upon Bank’s further review and verification. Provisional credit to Merchant for a Transaction disputed by a Cardholder for any reason is not final.

Payments to Merchant for Valid Transactions. (a) Merchant Bank will provide provisional credit to Merchant for each undisputed and valid Transaction which Merchant submits to Bank by crediting Merchant’s Settlement Account, provided Merchant Bank has received settlement for the valid Transaction through the Interchange procedures specified by the Card Association applicable to the Card used for the Transaction (Bank does not provide payment for all Card types for which Authorization services are provided). Merchant Bank is not obligated to provide provisional credit to Merchant for Transactions submitted that are not valid Transactions, and may suspend or discontinue any provisional credit in Merchant Bank’s and/or Processor’s sole and absolute discretion, including for any reason that would justify termination of this Merchant Agreement. Each provisional credit from Merchant Bank to Merchant will be subject to adjustment, including revocation, upon Bank’s further review and verification. Provisional credit to Merchant for a Transaction disputed by a Cardholder for any reason is not final.

Payments to Merchant for Valid Transactions. (a) Member Bank and Processor will provide provisional credit to Merchant for each undisputed and valid Transaction which that Merchant submits to Bank Processor by crediting Merchant’s Settlement Account, provided Member Bank has and Processor have received settlement for the valid Transaction through the Interchange procedures specified by the Card Association applicable to the Card used for the Transaction (Member Bank does and Processor do not provide payment for all Card types for which Authorization services are provided). Member Bank is and Processor are not obligated to provide provisional credit to Merchant for Transactions submitted that are not valid Transactions, and may suspend or discontinue any provisional credit in Merchant Member Bank’s and/or Processor’s sole and absolute discretion, including for any reason that would justify termination of this Merchant Agreement. Each provisional credit from Member Bank and Processor to Merchant will be subject to adjustment, including revocation, upon BankProcessor’s further review and verification. Provisional credit to Merchant for a Transaction disputed by a Cardholder for any reason is not final.

Payments to Merchant for Valid Transactions. (a) Bank will provide provisional credit to Merchant for each undisputed and valid Transaction which Merchant submits to Bank by crediting Merchant’s Settlement Account, provided Bank has received settlement for the valid Transaction through the Interchange procedures specified by the Card Association applicable to the Card used for the Transaction (Bank does not provide payment for all Card types for which Authorization services are provided). Bank is not obligated to provide provisional credit to Merchant for Transactions submitted that are not valid Transactions, and may suspend or discontinue any provisional credit in Merchant Bank’s and/or Processor’s sole and absolute discretion, including for any reason that would justify termination of this Merchant Agreement. Each provisional credit from Bank to Merchant will be subject to adjustment, including revocation, upon Bank’s further review and verification. Provisional credit to Merchant for a Transaction disputed by a Cardholder for any reason is not final.