Common use of Presentment of Fraudulent Transactions Clause in Contracts

Presentment of Fraudulent Transactions. Merchant may not accept or present to Bank for collection any fraudulent Transaction and may not under any circumstances present for processing or credit, directly or indirectly, Transactions originated with any other merchant or any other source. Xxxxxxxx may accept only Transactions arising from bona fide purchases from Merchant for the goods and services for which Merchant has been approved under this Agreement. If Merchant presents to Bank for collection any prohibited Transaction, Bank may: (a) immediately terminate this Agreement; (b) withhold funds and establish a Reserve Account as provided herein; and (c) report Merchant to Visa, MasterCard and Discover’s MATCH file. Merchant's employees' actions are chargeable to Merchant under this Agreement.

Presentment of Fraudulent Transactions. Merchant may not accept or present to Bank for collection any fraudulent Transaction and may not under any circumstances present for processing or credit, directly or indirectly, Transactions originated with any other merchant or any other source. Xxxxxxxx may accept only Transactions arising from bona fide purchases from Merchant for the goods and services for which Merchant has been approved under this Agreement. If Merchant presents to Bank for collection any prohibited Transaction, Bank may: : (a) immediately terminate this Agreement; (b) withhold funds and establish a Reserve Account as provided herein; and (c) report Merchant to Visa, MasterCard and Discover’s MATCH file. Merchant's employees' actions are chargeable to Merchant under this Agreement.