Common use of Returns and Adjustments; Credit Vouchers Clause in Contracts

Returns and Adjustments; Credit Vouchers. Merchants will maintain a fair exchange and return policy and make adjustments with respect to goods and services sold and leased to their customers whenever appropriate and in compliance with any applicable legal or regulatory requirements. The Merchant’s policy for the exchange or return of goods sold and the adjustment for services rendered will be established and posted in accordance with the operating regulations of the applicable Card Association. Merchant will disclose, if applicable, to a Cardholder before a Card sale is made, that if merchandise is returned: (a) no refund, or less than a full refund, will be given; (b) returned merchandise will only be exchanged for similar merchandise of comparable value; (c) only credit toward purchases will be given; or (d) special conditions or circumstances apply to the sale (e.g., late delivery, delivery charges, or other non-credit terms). If Merchant does not make these disclosures, a full refund in the form of a credit to the Cardholder’s Card account must be given within 15 calendar days. Disclosures must be made on all copies of Sales Drafts or invoices in letters approximately 1/4” high in close proximity to the space provided for the Cardholder’s signature or on an invoice issued at the time of the sale or on an invoice being presented for the Cardholder’s signature and in compliance with any applicable legal or regulatory requirements. Any change in Xxxxxxxx’s return or cancellation policy must be submitted in writing to Bank not less than 14 days prior to the change. Bank may refuse to process any Sales Draft made subject to a revised return or cancellation policy of which it has not been notified as required herein. If goods are returned, services are terminated or canceled, or any price is adjusted, the Merchantwillprepareandtransmita CreditVoucher, either electronically or by paper, for the amount of the adjustment as a deduction from the total amount of Transactions transmitted thatday. Ifthe amountof credit orreturn Transactions exceeds the amount of sales Transactions, the Merchant shall immediately pay Bank the excess. Merchants shall make no cash refunds on Transactions and shall handle all credit adjustments as provided in this Paragraph. If no refund or return is given, Cardholdermust be advised inwriting thatthe sale is a “final sale” and “no returns” are permitted at the time of the Transaction.

Returns and Adjustments; Credit Vouchers. Merchants Merchant will maintain a fair exchange and return policy and make adjustments with respect to goods and services sold and and/or leased to their its customers whenever appropriate and in compliance with any applicable legal or regulatory requirementsappropriate. The Merchant’s policy for the exchange or return of goods sold and the adjustment for services rendered will be established and posted in accordance with the operating regulations of the applicable Card Association’s regulations. Merchant will disclose, if applicable, to a Cardholder before a Card sale is made, that if merchandise is returned: (a) no refund, or less than a full refund, will be given; (b) returned merchandise will only be exchanged for similar merchandise of comparable value; (c) only a credit toward purchases will be given; or (dorc(d) special conditions or circumstances apply to the sale (e.g., late delivery, delivery charges, or other non-credit terms). If Merchant does not make these disclosures, a full refund in the form of a credit to the Cardholder’s Card account must be given within 15 calendar daysgiven. Disclosures must be made on all copies of Sales Drafts or invoices in letters approximately 1/4” " high in close proximity to the space provided for the Cardholder’s signature or on an invoice issued at the time of the sale or on an invoice being presented for the Cardholder’s signature and in compliance with any applicable legal or regulatory requirementssignature. Any change in XxxxxxxxMerchant’s return or cancellation policy must be submitted in writing to Bank MAS not less than 14 days prior to the change. Bank MAS may refuse to process any Sales Draft made subject to a revised return or cancellation policy of which it MAS has not been notified as required herein. If goods are returned, or services are terminated or canceled, or any price is adjusted, the Merchantwillprepareandtransmita CreditVoucherMerchant will prepare and transmit a Credit Voucher, either electronically or by paper, for the amount of the adjustment as a deduction from the total amount of Transactions transmitted thatdaythat day. Ifthe amountof If the amount of credit orreturn or return Transactions exceeds the amount of sales Transactions, the Merchant shall immediately pay Bank MAS the excess. Merchants Merchant shall make no cash refunds on Transactions and shall handle all credit adjustments as provided in this Paragraph. If no refund or return is will be given, Cardholdermust Cardholder must be advised inwriting thatthe in writing that the sale is a “final sale” and “no returns” are permitted at the time of the Transaction. Credit Vouchers should be issued to the same card used for the Sale Draft.

Returns and Adjustments; Credit Vouchers. Merchants Merchant will maintain a fair exchange and return policy and make adjustments with respect to goods and services sold and and/or leased to their its customers whenever appropriate and in compliance with any applicable legal or regulatory requirementsappropriate. The Merchant’s policy for the exchange or return of goods sold and the adjustment for services rendered will be established and posted in accordance with the operating regulations of the applicable Card Association’s regulations. Merchant will disclose, if applicable, to a Cardholder before a Card sale is made, that if merchandise is returned: (a) no refund, or less than a full refund, will be given; (b) returned merchandise will only be exchanged for similar merchandise of comparable value; (c) only a credit toward purchases will be given; or (d) special conditions or circumstances apply to the sale (e.g., late delivery, delivery charges, or other non-credit terms). If Merchant does not make these disclosures, a full refund in the form of a credit to the Cardholder’s Card account must be given within 15 calendar daysgiven. Disclosures must be made on all copies of Sales Drafts or invoices in letters approximately 1/4” " high in close proximity to the space provided for the Cardholder’s signature or on an invoice issued at the time of the sale or on an invoice being presented for the Cardholder’s signature and in compliance with any applicable legal or regulatory requirementssignature. Any change in XxxxxxxxMerchant’s return or cancellation policy must be submitted in writing to Bank MAS not less than 14 days prior to the change. Bank MAS may refuse to process any Sales Draft made subject to a revised return or cancellation policy of which it MAS has not been notified as required herein. If goods are returned, or services are terminated or canceled, or any price is adjusted, the Merchantwillprepareandtransmita CreditVoucherMerchant will prepare and transmit a Credit Voucher, either electronically or by paper, for the amount of the adjustment as a deduction from the total amount of Transactions transmitted thatdaythat day. Ifthe amountof If the amount of credit orreturn or return Transactions exceeds the amount of sales Transactions, the Merchant shall immediately pay Bank MAS the excess. Merchants Merchant shall make no cash refunds on Transactions and shall handle all credit adjustments as provided in this Paragraph. If no refund or return is will be given, Cardholdermust Cardholder must be advised inwriting thatthe in writing that the sale is a “final sale” and “no returns” are permitted at the time of the Transaction. Credit Vouchers should be issued to the same card used for the Sale Draft.