Common use of PREAUTHORIZED PAYMENT Clause in Contracts

PREAUTHORIZED PAYMENT. The cardholder is responsible for any preauthorized payment he has authorized any merchant to charge to his card, even after he or the Federation cancels this Agreement. If the cardholder wishes to discontinue any payment, he must contact the merchant and verify his account statements to ensure that the payments have been discontinued. If they have not stopped despite the cardholder’s instructions to a merchant, the Federation is not obligated to, but may be able to assist the cardholder if he provides the Federation with a copy of the written request to the merchant.

PREAUTHORIZED PAYMENT. The cardholder is responsible for any preauthorized payment he has authorized any merchant to charge to his card, even after he or the Federation Xxxxxxxxxx cancels this Agreement. If the cardholder wishes to discontinue any payment, he must contact the merchant and verify his account statements to ensure that the payments have been discontinued. If they have not stopped despite the cardholder’s instructions to a merchant, the Federation Xxxxxxxxxx is not obligated to, but may be able to assist the cardholder if he provides the Federation Xxxxxxxxxx with a copy of the written request to the merchant.