Return of Cards Clause Samples
The 'Return of Cards' clause requires individuals or entities to return any issued cards, such as identification badges, access cards, or credit cards, upon the termination of their relationship with the issuing organization. Typically, this clause applies when an employee leaves a company or a contractor completes their engagement, ensuring that all physical or digital cards provided for access or identification are surrendered. Its core function is to maintain security and prevent unauthorized access or misuse of company resources after the end of the official relationship.
Return of Cards. All Cards shall be deemed canceled effective upon termination of this Agreement and Company shall instruct the Employees to cut in half all Cards, and return them to Bank. Company shall remain liable for all debits or other charges incurred or arising by virtue of the use of a Card prior to the termination date.
Return of Cards. You must return all Cards and Convenience Cheques issued on your Credit Card Account to us if we ask you to do so.
Return of Cards. You must return or destroy your Card if we ask you to.
Return of Cards. If this Part III is terminated for any reason, you will immediately return to CIBC all Deposit-Only Access Cards.
Return of Cards. All Cards will be considered canceled, effective as of the date of termination of this service and the Entity must instruct the Authorized Persons to destroy the Cards and return them to the Bank. The Entity will be responsible for all debits, purchases, transfers and other charges incurred or transactions and/or arising from the use of a Card.
Return of Cards. 8.1 All Cards are and remain our property at all times. The Business is responsible for recovering and returning all Cards issued to it if:
8.1.1 we or our agents request the return of any or all Cards at any time; or
8.1.2 if any Cardholder should cease to be employed by the Business or should cease to be authorised to use a Card.
8.2 Where Cards are returned to us, they must be cut in two across the magnetic strip, signature box and chip. The liability of the Business will continue in respect of all Transactions undertaken with the use of any Card or Card number returned to us under General Condition 8.1 prior to receipt of the Card(s) by us.
Return of Cards. 6.1 Each Card is and remains the property of the Bank at all times. Before Cards are returned to the Bank they must be cut in half through the signature box and magnetic strip and also, if the Card has a Chip, through the part of the Card containing the Chip.
6.2 The Business is responsible for:
(a) recovering and returning all Cards issued to it, if the Bank or its agents so request.
(b) recovering and destroying any Card issued to a User should that User cease to be a principal, partner in or an official or employee of the Business or cease to be authorised to use a Card for any reason.
6.3 The Business undertakes to advise all originators of recurring authority transactions that the Card(s) has (have) been cancelled. The Business is advised to retain copies of such cancellation notices.
6.4 In addition to any other rights it may have the Bank may, suspend or terminate the use of a Card or the Business Card Account with immediate effect or it may refuse to reissue, renew or replace any Card if it reasonably considers it necessary:
(a) for security reasons;
(b) where the Business materially breaches the Agreement;
(c) where the Bank suspects unauthorised or fraudulent use of the Card(s) or Business Card Account; or
(d) if any other circumstances occur which cause the Bank to reasonably believe that there has been a significantly increased risk that the Business’ obligations to the Bank may not be met. Unless there is a security or other legal reason not to, the Bank will notify the Business either before it takes action, or immediately after, and give reasons for doing so.
Return of Cards. 8.1 All Cards are and remain our property at all times. The Business is responsible for recovering and returning all Cards issued to it if:
8.1.1 we or our agents request the return of any or all Cards at any time; or
8.1.2 if any Cardholder should cease to be employed by the Business or should cease to be authorised to use a Card.
8.2 Where Cards are returned to us, they must be cut in two across the magnetic strip, signature box and chip. The liability of the Business will continue in respect of all Transactions undertaken with the use of any Card or Card number returned to us under General Condition
8.1 prior to receipt of the Card(s) by us.
8.3 The Business undertakes to advise all originators of recurring Transactions that the Card(s) has/have been cancelled and will indemnify us against any costs or losses which it might suffer as a result of any failure by the Business to give such advice.
Return of Cards. Cards that are inadvertently left at a Merchant location may be returned to the Cardholder by the Merchant on the same day if the Cardholder provides positive identification. If the Card is not claimed by the Cardholder by the close of the next Business Day, the Card(s) are to be destroyed. The Merchant must select one of the following Card acceptance categories: Accept all MasterCard, Visa and Discover Network Cards including consumer credit and debit, and commercial Cards. Limited Acceptance. Accept MasterCard, Visa and Discover Network consumer credit and commercial Cards only. Merchants choosing this option must accept all MasterCard, Visa and Discover Network credit and commercial products including MasterCard or Visa business check Cards. Limited Acceptance. Accept MasterCard, Visa and Discover Network consumer debit Cards only. Merchants choosing this option must accept all MasterCard, Visa and Discover Network consumer debit Card products, which will be identified with the word “DEBIT” printed on the front of the Card. The Merchant acknowledges by signing below that they have received and have reviewed the full Merchant Agreement & Merchant Program Guide either in electronic or printed form which precedes this signature page. ▇▇▇▇▇▇▇▇ also confirms the information provided for the completion of the Merchant Application is complete and accurate; the persons signing this are duly authorized to bind Merchant to all provisions of the Merchant Application and Agreement; the signature by the authorized representative of Merchant or the electronic transmission of a Merchant Application shall be the Merchant’s acceptance of and agreement to the terms and conditions contained in the Agreement including, without limitation, the Merchant Application; Merchant authorizes Bank and its affiliates, prior to acceptance of the application, to obtain credit reports or other background investigation reports for Merchant and Guarantor; and any information provided in connection with the application and Agreement may be supplied by Bank to our affiliates or by our affiliates to Bank.