Settlement of Card Transactions. 11.1 Servicers will only be required to settle Your Card transactions for Cards as specified herein. Promptly after presentment of Sales Drafts pursuant to Section 10, above, as applicable, Servicers will initiate a transfer via Automated Clearing House Credit of the applicable settlement funds to You. When Servicers receive payment of settlement funds through automated clearing house credit, Servicers will initiate a transfer of such applicable settlement funds through ACH to Your Settlement Account. Settlement by automated clearing house credit will take place according to the schedule indicated in Exhibit A, Section 4.1a.
11.2 All settlements to You for VISA and MasterCard Card transactions will be based upon gross sales, less credits/refunds, adjustments, Chargebacks, amounts payable to third parties pursuant to instructions from You in accordance with Association Rules.
11.3 All credits to Your Settlement Account or other payments to You are provisional and are subject to Servicers' final audit, and Chargebacks. You agree that Servicers may credit Your Settlement Account for any overages, pending Chargebacks, or may offset chargeback amounts from settlement funds due to You. Alternatively, Servicer will invoice You for any deficiency, fine, or fee amounts, net due 30 days after the invoice date or on such earlier date as may be specified.
11.4 Servicers will not be liable for any delays in receipt of funds or errors in debit and credit entries caused by third parties including but not limited to any Association or Your financial institution. In addition to any other remedies available to Servicers under this Exhibit G, You agree that should any of the events set forth in Paragraph 16.1 occur, Servicers may, upon at least 24 hours’ advance written notice, change processing or payment terms to suspend credits or other payments of any and all funds, money and amounts now due or hereafter to become due to You from Servicers pursuant to the terms of this Exhibit G, until Servicers have had reasonable opportunity to investigate and discuss such event with You. In cases of fraud or similar cause, no prior notice shall be required, but Servicers shall notify You in writing within three business days after effectuating a suspension of credits or other payments, which notice shall state Servicers' reason for the belief that such fraud or similar cause exists.
Settlement of Card Transactions. (a) We will only acquire and settle Transactions for the Card types specified in your Application.
(b) You must keep one or more bank accounts (Settlement Account) at an Australian domiciled financial institution, into and from which we can initiate credits and debits in connection with this Agreement. The Settlement Account must be maintained in your full legal or trading name.
(c) After presentation of a successful Transaction pursuant to the Operating Procedures, we will in accordance with our standard settlement process pay into your Settlement Account the value of all valid sales and cash out Transactions less any refunds, fees, Chargebacks, or other debits or monies paid into any Reserve Account. Where reasonably practicable, we shall endeavour to initiate a credit into your Settlement Account with the time frame specified in your Application (where that time frame has been accepted by us).
(d) We will not be liable for any delays in receipt of funds or errors in debit and credit entries caused by third parties such as a Card Scheme, communication platforms and services, your financial institution or any failure in the Australian payment system (or any other payment system).
(e) If you believe any adjustments should be made with respect to your Settlement Account(s), you must notify us within 45 days after any debit or credit is or should have been effected.
(f) You warrant that all information provided by you in relation to a Transaction is true and accurate and acknowledge that we will rely on that information, including Sales Receipts.
Settlement of Card Transactions. All credits to the Settlement Account, as well as any other payments to you, are provisional and are subject to our final audit and checking. We may debit or credit your Settlement Account for any deficiencies and overages or may deduct such amounts from settlement funds due to you. We may, within our sole discretion, delay your settlement payments for up to seven (7) days, which period will begin after the settlement payments are received by us. In this event, you acknowledge that we will, and you expressly authorize us to, delay your settlement payments for up to seven (7) days. This delay of your settlement funds does not preclude us from exercising our right to establish a reserve/security account or to suspend payments pursuant to Section 17 of this Agreement. The settlement payments will begin to be credited to your Settlement Account, less any monies owed us, on the next business day following expiration of this rolling delay period. This rolling delay of the settlement payments will be ongoing and continue as long as we are providing your processing services.
Settlement of Card Transactions. We have the sole right to receive payments on any Transaction record transmitted by you as long as: (a) we have paid you the amount represented by the Transaction record, less the fees, reserves, discounts and other charges permitted by this Agreement; and (b) we have not charged such Transaction record back to you.
Settlement of Card Transactions. ISXPay will only acquire and settle Transactions for Card types specified in your Application and Merchant Agreement.
Settlement of Card Transactions. Prosper shall coordinate with the processor for the Cards to provide for settlement of Card transactions on a daily basis; provided that Prosper shall not be liable for a delay in such settlements to the extent such a delay is not reasonably within Prosper’s control.
Settlement of Card Transactions. Subject to your compliance with Association Rules and this Merchant Application and Agreement, Bank will settle the Card Transactions for Cards specified in your Merchant Application and Agreement and will initiate a transfer of applicable funds to you. Such funds shall be subject to our withholding, set-off, security and reserve rights. All settlements for Discover, MasterCard, Visa and American Express Card Transactions will be net of creditslrefunds, adjustments, applicable Discount Rates when due, Chargebacks and any other amounts then due from you. All payments to you are
Settlement of Card Transactions. 11.1 SERVICERS will only be required to settle CUSTOMER’s Card transactions for Cards, as specified in the Schedules. Promptly after presentment of Sales Drafts pursuant to Section 10, above, as applicable, SERVICERS will initiate a transfer of the applicable settlement funds to CUSTOMER in one of the following ways:
Settlement of Card Transactions. (a) First Data will only acquire and settle Transactions for Card types specified in your Application.
(b) You must keep one or more bank accounts (Settlement Account) at a financial institution, into and from which First Data can initiate credits and debits in connection with this Agreement.
(c) After presentation of a Sales Receipt pursuant to the Operating Procedures, First Data will in accordance with its standard settlement process in effect from time to time pay into your Settlement Account the value of all valid sales and cash out Transactions less any Refunds, Chargebacks, or other debits or monies paid into any Reserve Account. Where reasonably practicable, First Data shall endeavour to initiate a credit into your Settlement Account on the next Business Day after the day the Transactions are processed (which is the next Business Day if Transactions are submitted before merchant cut-off).
(d) First Data will not be liable for any delays in receipt of funds or errors in debit and credit entries caused by third parties such as a Card Scheme, your financial institution or any failure in the Australian payment system or telephone lines.
(e) For each month that you process a Transaction, First Data will send you a summary statement of Transactions processed using your merchant services that month.
(f) If you believe any adjustments should be made with respect to your Settlement Account(s), you must notify First Data within 45 days after any debit or credit is or should have been effected.
(g) You warrant that all information provided by you is true and accurate and acknowledge that First Data will rely on that information, including Sales Receipts.
Settlement of Card Transactions. 11.1 SERVICERS will only be required to settle CUSTOMER’s Card transactions for Cards specified in the Schedules. SERVICERS will initiate a transfer of the applicable settlement funds to CUSTOMER by wire transfer (or other agreed upon method) after presentment of Transaction Records (by electronic delivery, pursuant to Section 10) of such applicable settlement funds to the Settlement Account in accordance with this Section 11.1. Upon proper presentment of a Transaction Record or Credit Voucher, SERVICERS agree to process and enter into the MasterCard and VISA settlement networks, as appropriate, all Transaction Records and Credit Vouchers that have been generated in accordance with the terms of this Agreement. Transaction Records and Credit Vouchers presented for processing and settlement that are successfully transmitted to SERVICERS at or before [Redacted]on any day shall be deemed to have been received by SERVICERS on that day. Transaction Records and Credit Vouchers presented for processing and settlement that are successfully transmitted to SERVICERS after [Redacted]on any day shall be deemed to have been received by SERVICERS on the next succeeding day. After presentment and processing of Transaction Records and Credit Vouchers as set forth herein, SERVICERS will credit to CUSTOMER’S account, in the manner set forth in this Section 11.2, an amount (the “Settlement Amount”) equal to the total amount of all Transaction Records less (i) the total net amount of all Credit Vouchers and Chargebacks, and (ii) any fees or other amounts payable by CUSTOMER hereunder. SERVICERS will initiate a transfer of the applicable Settlement Amount to CUSTOMER on the next Business Day after the Transaction Records or Credit Vouchers were successfully transmitted to SERVICERS by wire transfer. Settlement by wire transfer is generally initiated by[Redacted]. If SERVICERS fail to initiate a transfer of applicable settlement funds which have been received by SERVICERS from the applicable Association to CUSTOMER on the [Redacted]after the Transaction Records or Credit Vouchers were successfully received by SERVICERS on or before[Redacted], and such failure or delay is not caused by third parties (other than third parties directly controlled by SERVICERS), then unless such monies are being withheld in accordance with any other provision of this Agreement, SERVICERS shall pay CUSTOMER interest on such funds at the then current Federal Funds rate as established by the Federal Re...
