SETTLEMENTS AND FINALITY. Merchant’s Account will settle in accordance with the funding schedule set for Merchant. The first day of the settlement cycle is the following day from the effective Entry date. If any Entry is returned beyond the settlement date, BASE COMMERCE will, at BASE COMMERCE’s sole and absolute discretion, either apply the debit to the current day’s settlement, or debit the Merchant’s account for the amount of the returned Entry plus associated fees. If sufficient funds to cover returned Entries are not available in Merchant’s Account, Merchant shall immediately remit payment to BASE COMMERCE to fully cover the amount of all returned Entries. As described elsewhere in this Agreement, Merchant agrees that, to fully cover all returned Entries, BASE COMMERCE may also debit any other bank account for Merchant about which it has account information, regardless of the timing, reason or manner in which BASE COMMERCE obtained information about the other bank account(s) for Merchant (including, but not limited to, bank account(s) that Merchant identifies to BASE COMMERCE or bank account(s) for Merchant that BASE COMMERCE identifies through its own lawful research or investigation).
SETTLEMENTS AND FINALITY. Merchant’s Account will settle in accordance with the funding schedule set for Merchant. The first day of the settlement cycle is the following day from the effective Entry date. If any Entry is returned beyond the settlement date, CHECK COMMERCE will, at CHECK COMMERCE’s sole and absolute discretion, either apply the debit to the current day’s settlement, or debit the Merchant’s account for the amount of the returned Entry plus associated
SETTLEMENTS AND FINALITY. Merchant’s Account will settle in accordance with the funding schedule set for Merchant. The first day of the settlement cycle is the following day from the effective Entry date. If Third-Party Processor permits Merchant to process transactions on a zero-day funding schedule, Split Limit and Merchant acknowledge and agree that Third-Party Processor may charge an additional fee for zero-day funding. If any Entry is returned beyond the settlement date, Processor will, at Processor’s sole and absolute discretion, either apply the debit to the current day’s settlement, or debit the Merchant’s settlement account for the amount of the returned Entry. All other amounts due and owing to Processor from Merchant, including but not limited to all fines, penalties, loss allocations, damages, expenses (including, without limitation, attorneys’ fees, investigatory and/or remediation expenses), charges, assessments, registrations, certification expenses, payment obligations owed by Merchant under this Agreement (including, without limitation, indemnity obligations), and any and all or other amounts due, or any governmental, banking, or regulatory agency, or claimed by third parties arising out of this Agreement or involving Merchant’s business, actions, omissions, or use of the services contemplated under this Agreement shall be deducted from the Fee Account maintained by Split Limit. Split Limit authorizes Third-Party Processor or its agents or designated representatives to initiate ACH Debit or Credit Entries and Adjustments to the Fee Account and to any Reserve Account (whether maintained at the ODFI or another financial institution) for all amounts due under this Agreement. If sufficient funds to cover returned Entries are not available in Merchant’s Settlement Account, Merchant shall immediately remit payment to Processor to fully cover the amount of all returned Entries.
SETTLEMENTS AND FINALITY. Funds representing collected ACH Payments shall settle to Client’s Designated Bank Account on a schedule determined by ACH PROCESSOR based upon an evaluation of the risk and credit exposure imposed by Client. The settlement cycle will be communicated to Client upon notice of account approval or account activation. ACH PROCESSOR reserves the right, at its sole and absolute discretion, to adjust the settlement cycle based upon account performance and changes in estimated credit exposure. If any Entry is returned after settlement, ACH PROCESSOR will at ACH PROCESSOR’s sole and absolute discretion, either apply the debit to the current day’s settlement, or debit the Client’s account for the amount of the returned Entry plus associated fees. If sufficient funds to cover returned Entries is not available in the Client’s account, the Client shall immediately remit payment to ACH PROCESSOR to fully cover the amount of all returned Entries. NO WARRANTY Client acknowledges and agrees that ACH PROCESSOR does not have control over the conditions under which Client uses the payment processing system, and does not and cannot warrant the results obtained by such use. ACH PROCESSOR DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, RELATING TO THE PROCESSING AND/OR ACH PROCESSOR’S SERVICES, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES AGAINST INFRINGEMENT OF THIRD-PARTY RIGHTS OR THE IMPLIED WARRANTIES OF CLIENTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. ACH PROCESSOR DOES NOT WARRANT THAT OPERATION OF THE PAYMENT PROCESSING SERVICE WILL BE UNINTERRUPTED, ERROR-FREE, OR SECURE. CLIENT ACKNOWLEDGES THAT THE PAYMENT PROCESSING SYSTEM IS PROVIDED FOR USE BY CLIENT “AS IS.” CLIENT FURTHER ACKNOWLEDGES THAT ACH PROCESSOR BEARS NO RESPONSIBILITY FOR THE CLIENT WEB SITE(S). CLIENT ACKNOWLEDGES THAT AN AUTHORIZATION FOR PAYMENT IS NEITHER A WARRANTY THAT THE PERSON PRESENTING THE AUTHORIZATION IS THE RIGHTFUL ACCOUNT HOLDER NOR A PROMISE OR GUARANTEE BY ACH PROCESSOR THAT IT WILL PAY OR ARRANGE FOR PAYMENT TO CLIENT FOR THE AUTHORIZED TRANSACTION. CLIENT ACKNOWLEDGES THAT AN AUTHORIZATION DOES NOT PREVENT A SUBSEQUENT REVERSAL OF A PREVIOUSLY AUTHORIZED TRANSACTION PURSUANT TO THIS AGREEMENT. LIMITS OF LIABILITY ACH PROCESSOR will be responsible for the performance of ACH services in accordance with the terms of this Agreement and the Rules and applicable Regulations. ACH PROCESSOR will not accept responsibility for errors, acts, or failure to act by others (whether directly or indir...
SETTLEMENTS AND FINALITY. Nuvei will electronically disburse the Merchant Settlement Amount (defined below) to Merchant’s Account. Nuvei will settle ACH Entries to Merchant in accordance with the funding schedule set for Merchant as part of the underwriting process. If any Entry is returned beyond the settlement date, Nuvei will, at Nuvei’s sole and absolute discretion, either apply the debit to the current day’s settlement (“Net Settled”), or debit the Account for the amount of the returned Entry plus associated fees. If sufficient funds to cover returned Entries are not available in Merchant’s Account or the current day’s settlement, Merchant shall immediately remit payment to Nuvei to fully cover the amount of all returned Entries plus associated costs. Nuvei may carry any Settlement Amount of less than one thousand dollars ($1,000) to the next settlement date. “Merchant Settlement Amount” means the amount of money payable by Nuvei to Merchant in accordance with this Agreement after deduction of any amounts for (1) fees, (2) transactions reversed by Receiver, including chargebacks; (3) ineligible, fraudulent or illegal transactions or transactions otherwise prohibited by this Agreement; (4) transactions alleged by a Receiver to have been performed without their consent; (5) transactions disputed by a Receiver because the Merchant service was not received or was returned, rejected or defective; (6) Receiver refunds initiated either by Merchant, Nuvei or payment service provider; or (7) the failure of Merchant to perform any obligation in connection with the Merchant services.
