Common use of Qualified Credit Card Issuer Clause in Contracts

Qualified Credit Card Issuer. An Indian Financial Institution satisfying the following requirements: 1. The Financial Institution is a Financial Institution solely because it is an issuer of credit cards that accepts deposits only when a customer makes a payment in excess of a balance due with respect to the card and the overpayment is not immediately returned to the customer; and 2. Beginning on or before July 1, 2014, the Financial Institution implements policies and procedures to either prevent a customer deposit in excess of $50,000, or to ensure that any customer deposit in excess of $50,000, in each case applying the rules set forth in Annex I for account aggregation and currency translation, is refunded to the customer within 60 days. For this purpose, a customer deposit does not refer to credit balances to the extent of disputed charges but does include credit balances resulting from merchandise returns.

Qualified Credit Card Issuer. An Indian Financial Institution satisfying the following requirements: 1. The Financial Institution is a Financial Institution solely because it is an issuer of credit cards that accepts deposits only when a customer makes a payment in excess of a x x balance due with respect to the card and the overpayment is not immediately i returned to the customer; andand ' 2. Beginning on or before July 1, 2014, the Financial Institution implements policies and procedures to either prevent a customer deposit in excess of $50,000, or to ensure that i any customer deposit in excess of $50,000, in each case applying the rules set forth in | Annex I for account aggregation and currency translation, is refunded to the customer within 60 days. For this purpose, a customer deposit does not refer to credit balances to the extent of disputed charges but does include credit balances resulting ; from merchandise returns.

Qualified Credit Card Issuer. An Indian Financial Institution satisfying the following requirements: 1. The Financial Institution is a Financial Institution solely because it is an issuer of credit cards that accepts deposits only when a customer makes a payment in excess of a j x balance due with respect to the card and the overpayment is not immediately i returned to the customer; andand ' 2. Beginning on or before July 1, 2014, the Financial Institution implements policies and procedures to either prevent a customer deposit in excess of $50,000, or to ensure that i any customer deposit in excess of $50,000, in each case applying the rules set forth in | Annex I for account aggregation and currency translation, is refunded to the customer within 60 days. For this purpose, a customer deposit does not refer to credit balances to the extent of disputed charges but does include credit balances resulting ; from merchandise returns.