Common use of The Bank may Clause in Contracts

The Bank may. 2.1.2.1 Settle acquired transaction proceeds due to the Merchant (i.e. transfer the funds to the Merchant’s account(s)) less the fee(s); 2.1.2.2 Not settle accounts with the Merchant if the sales slips submitted by the Merchant are fake, invalid and/or generated in violation of Paragraph 2.2.1.1 hereof. Furthermore, the Bank is not obliged to settle accounts with the Merchant if the sales slip details do not comply with standards set out in Paragraph 2.2.1.1 hereof; 2.1.2.3 If a breach occurs, place a hold / a reserve on the funds payable to the Merchant for the purpose of a chargeback, penalty and/or compensation for loss (i.e. withhold respective funds available in the Merchant’s account(s) for a period of time envisaged by international payment systems regulations). 2.1.2.4 If the reserved amount is not sufficient to fully settle the Merchant’s liability to the Bank, deduct the necessary funds from any account of the Merchant (if available), to which the Client agrees in advance. If the account currency is different, the equivalent amount is calculated based on the Bank’s exchange rate effective at the time of debiting the account; 2.1.2.5 Not settle the Merchant’s transaction proceeds acquired via POS Terminal based on a Batch received 7 (seven) days after the transaction, and 30 (thirty) calendar days after pre-authorization; 2.1.2.6 Draw erroneous transfers from the Merchant’s account by direct debit (without notifying the Merchant thereof additionally, or seeking his/her/its consent); 2.1.2.7 Check periodically the Merchant’s observance of operating rules hereunder (under the General Provisions); 2.1.2.8 Not settle accounts with the Merchant if transactions carried out via POS Terminal(s) at the Merchant’s site are suspicious and/or illegal; 2.1.2.9 If a Chargeback has been filed, draw/deduct the corresponding amount from the Merchant’s account(s) until the Chargeback process is over, pursuant to the rules of international payment systems. If the corresponding amount has not been drawn/deducted from the Merchant’s account(s) before the completion of the Chargeback and the Chargeback is not successful, the Merchant shall compensate the Bank for the loss due to the dispute; 2.1.2.10 If the Chargeback is completed successfully, return the disputed amount drawn/deducted in advance to the Merchant’s account(s). If the Chargeback is not successful, the amount drawn/deducted in advance will not be returned to the Merchant; 2.1.2.11 When a Chargeback has been filed, as well as when the Bank finds a deal suspicious and/or qualifies it as illegal, the Bank has the right to require (and if so, the Merchant shall submit to the Bank) all relevant information / documents / details of the card transaction in question / reservation document / the POS terminal receipt (evidence of the transaction) / invoice, etc. related to the Merchant and the deal. Furthermore, in cases hereunder, the Bank may require the Client’s personal information: name, surname, personal ID number, a copy of the ID document(s), the Client’s contact details. The Bank will share the data only via the protected channels of international payment systems; 2.1.2.12 If within one calendar month the total amount of chargebacks reaches 1% of the total amount of deals, or the number and/or amount of transactions grows sharply, suspend settlement to the Merchant’s account(s) and provision of card services to the Merchant temporarily until the cause is identified (checked); 2.1.2.13 If a transaction is cancelled or a chargeback is filed, discuss the case and examine relevant information and/or documents and take a decision regarding reversal within 3 (three) days from the transfer of the transaction amount to the Bank’s account; 2.1.2.14 If relevant terms and conditions stipulated by the General Provisions are breached, without prejudice to its rights under the Law and this Agreement, the Bank is authorized to charge and if so, the Merchant is obliged to pay the penalties envisaged by these terms and conditions (imposition of penalties shall be deemed the Bank’s right and not its obligation). If and after such liabilities arise, the Bank is authorized to deduct respective amounts from any account of the Merchant by direct debit, to which the Merchant agrees in advance; 2.1.2.15 Forthwith suspend the service rendered to the Merchant and/or the process of settlement if there are material circumstances that may cause reputational damage to the payment network of the international payment systems; 2.1.2.16 Ensure that Bank Systems Services (JSC) personnel who are authorized to sign relevant Delivery and Acceptance Certificates deliver, collect, install and/or remove POS Terminals to/from/in the Merchant’s store(s) and provide full services related thereto; 2.1.2.17 draw the Fixed Fee from the Merchant’s account(s) for the number of months agreed in advance. 2.1.2.18 Notify the Merchant of the fraudulent transaction no later than the business day following the date of receipt of the card issuer’s notification and/or of information about the chargeback; 2.1.2.19 If/after the Merchant generates liability/ies towards the Bank, carry out conversion (as necessary) at the Bank’s commercial exchange rate when deducting the amount (including a fee, a penalty, a mistaken transfer) from the Company’s/Merchant’s account(s) by direct debit. 2.1.2.20 In the cases stipulated in Sub-Paragraphs 2.2.1.32, 2.2.1.33, 2.2.1.34 of the General Provisions, the Bank will inform the Merchant regarding the expenses /cost subject to compensation via the Bank’s Call Centre or internet banking or an SMS text. If the Merchant fails to compensate for the expenses / cost within 10 (ten) business days of receiving the information, the Bank may draw the amount from any account of the Merchant by direct debit (without the Merchant’s further consent and/or without further notifying the Merchant) (if there is available balance in the account(s)). If the funds are in different currency, the equivalent will be calculated at the Bank’s commercial rate as of the time of debiting.- 2.1.2.21 If the transaction amount is captured 30 (thirty) calendar days after pre-authorization, deduct by direct debit (without the Merchant’s further consent) the transaction amount on which capture was delayed.

Appears in 3 contracts

Samples: Pos Terminal Agreement, Pos Terminal Agreement, Pos Terminal Agreement

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The Bank may. 2.1.2.1 Settle acquired transaction proceeds due to the Merchant (i.e. transfer the funds to the Merchant’s account(s)) less the fee(s); 2.1.2.2 Not settle accounts with the Merchant if the sales slips submitted by the Merchant are fake, invalid and/or generated in violation of Paragraph 2.2.1.1 hereof. Furthermore, the Bank is not obliged to settle accounts with the Merchant if the sales slip details do not comply with standards set out in Paragraph Paragraph 2.2.1.1 hereof; 2.1.2.3 If a breach occurs, place a hold / a reserve on the funds payable to the Merchant in order to allow for the purpose of a chargeback, penalty and/or compensation for loss (i.e. withhold apply the reserve to respective funds available in the Merchant’s account(s) accounts for a period of time envisaged by international payment systems VISA International, Mastercard Worldwide and China UnionPay regulations).; 2.1.2.4 If the reserved amount is not sufficient to fully settle the Merchant’s liability to the Bank, deduct the necessary funds from any account of the Merchant (if available), to which the Client agrees in advance. If the account currency is different, the equivalent amount is calculated based on the Bank’s exchange rate effective at the time of debiting the account; 2.1.2.5 Not settle the Merchant’s transaction proceeds acquired via POS Terminal based on a Batch received 7 (seven) days after the transaction, and 30 (thirty) calendar days after pre-authorizationthe transaction; 2.1.2.6 Draw erroneous transfers from the Merchant’s account by direct debit (without notifying the Merchant thereof additionally, or seeking his/her/its consent); 2.1.2.7 Check periodically the Merchant’s observance of operating rules hereunder (under the General Provisions); 2.1.2.8 Not settle accounts with the Merchant if transactions carried out via POS Terminal(s) at the Merchant’s site are suspicious and/or illegal; 2.1.2.9 If a Chargeback has been filed, draw/deduct the corresponding place a reserve on a respective amount from in the Merchant’s account(s) account until the Chargeback process is over, pursuant to the rules of international payment systems. If the corresponding amount has not been drawn/deducted from the Merchant’s account(s) before the completion of the Chargeback VISA International, Mastercard Worldwide and the Chargeback is not successful, the Merchant shall compensate the Bank for the loss due to the disputeChina UnionPay; 2.1.2.10 If Require from the Merchant all necessary information and documents in the event of a Chargeback is completed successfully, return the disputed amount drawn/deducted in advance to the Merchant’s account(s). If the Chargeback is not successful, the amount drawn/deducted in advance will not be returned to the Merchantas well as any suspicious and/or illegal transaction; 2.1.2.11 When a Chargeback has been filed, as well as when the Bank finds a deal suspicious and/or qualifies it as illegal, the Bank has the right to require (and if so, the Merchant shall submit to the Bank) all relevant information / documents / details of the card transaction in question / reservation document / the POS terminal receipt (evidence of the transaction) / invoice, etc. related to the Merchant and the deal. Furthermore, in cases hereunder, the Bank may require the Client’s personal information: name, surname, personal ID number, a copy of the ID document(s), the Client’s contact details. The Bank will share the data only via the protected channels of international payment systems; 2.1.2.12 If within one calendar month the total amount of chargebacks reaches 13% of the total amount of dealstransaction proceeds, or the number and/or amount of transactions grows sharply, suspend settlement to the Merchant’s account(s) and provision of card services to and the settlement of accounts with the Merchant temporarily until the cause is identified (checked); 2.1.2.13 If a transaction is cancelled or a chargeback is filed, discuss the case and examine relevant information and/or documents and take a decision regarding reversal within 3 (three) days from the transfer of the transaction amount to the Bank’s account; 2.1.2.14 If relevant terms and conditions stipulated by the General Provisions are breached, without prejudice to its rights under the Law and this Agreement, the Bank is authorized to charge and if so, the Merchant is obliged to pay the penalties envisaged by these terms and conditions (imposition of penalties shall be deemed the Bank’s right and not its obligation). If and after such liabilities arise, the Bank is authorized to deduct respective amounts from any account of the Merchant by direct debit, to which the Merchant agrees in advance; 2.1.2.15 Forthwith suspend the service rendered to the Merchant and/or the process of settlement if there are material circumstances that may cause reputational damage to the payment network of the international payment systems; 2.1.2.16 Ensure that Bank Systems Services (JSC) personnel who are authorized to sign relevant Delivery and Acceptance Certificates deliver, collect, install and/or remove POS Terminals to/from/in the Merchant’s store(s) and provide full services related thereto; 2.1.2.17 draw the Fixed Fee from the Merchant’s account(s) for the number of months agreed in advance. 2.1.2.18 Notify the Merchant of the fraudulent transaction no later than the business day following the date of receipt of the card issuer’s notification and/or of information about the chargeback; 2.1.2.19 If/after the Merchant generates liability/ies towards the Bank, carry out conversion (as necessary) at the Bank’s commercial exchange rate when deducting the amount (including a fee, a penalty, a mistaken transfer) from the Company’s/Merchant’s account(s) by direct debit. 2.1.2.20 In the cases stipulated in Sub-Paragraphs 2.2.1.32, 2.2.1.33, 2.2.1.34 of the General Provisions, the Bank will inform the Merchant regarding the expenses /cost subject to compensation via the Bank’s Call Centre or internet banking or an SMS text. If the Merchant fails to compensate for the expenses / cost within 10 (ten) business days of receiving the information, the Bank may draw the amount from any account of the Merchant by direct debit (without the Merchant’s further consent and/or without further notifying the Merchant) (if there is available balance in the account(s)). If the funds are in different currency, the equivalent will be calculated at the Bank’s commercial rate as of the time of debiting.- 2.1.2.21 If the transaction amount is captured 30 (thirty) calendar days after pre-authorization, deduct by direct debit (without the Merchant’s further consent) the transaction amount on which capture was delayed.

Appears in 2 contracts

Samples: Pos Terminal Agreement, Pos Terminal Agreement

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The Bank may. 2.1.2.1 Settle acquired transaction proceeds due to the Merchant (i.e. transfer the funds to the Merchant’s transf account(s)) less the fee(s); 2.1.2.2 Not settle accounts with the Merchant if the sales slips submitted by the Merchant are fake, invalid and/or generated in violation of Paragraph 2.2.1.1 hereof. Furthermore, the Bank is not obliged to settle accounts with the Merchant if the sales slip details do not comply with standards set out in Paragraph Paragraph 2.2.1.1 hereof; 2.1.2.3 If a breach occurs, place a hold / a reserve on the funds payable to the Merchant for the purpose of a chargeback, penalty and/or compensation for loss (i.e. withhold respective funds available in the Merchant’s account(s) accounts for a period of time envisaged by international payment systems envisag China UnionPay regulations). 2.1.2.4 If the reserved amount is not sufficient to fully settle the Merchant’s liability to the Bank, deduct the necessary funds from any account of the Merchant (if available), to which the Client agrees in advance. If the account currency is different, the equivalent amount is calculated based on the Bank’s exchange rate effective at the time of debiting the account; 2.1.2.5 Not settle the Merchant’s transaction proceeds acquired via POS Terminal based on a Batch pr received 7 (seven) days after the transaction, and 30 (thirty) calendar days after pre-authorizationthe transaction; 2.1.2.6 Draw erroneous transfers from the Merchant’s account by direct debit (without notifying the Mercha Merchant thereof additionally, or seeking his/her/its consent); 2.1.2.7 Check periodically the Merchant’s observance of operating rules hereunder reMunederr (under the General cunhdear tnhetGe’nesral observa Provisions); 2.1.2.8 Not settle accounts with the Merchant if transactions carried out via POS Terminal(s) at the Merchant’s site are suspicious and/or illegal; 2.1.2.9 If a Chargeback has been filed, draw/deduct the corresponding amount from the Merchant’s account(s) until the Chargeback process is over, pursuant to the rules of international payment systemsVISA International, Mastercard Worldwide and China UnionPay. If the corresponding amount has not been drawn/deducted from the Merchant’s account(s) before the completion Merchanutnt’(s)sbefoarecthce coompletion of the Chargeback and the Chargeback is not successful, the Merchant shall compensate the the- Bank for the loss due to the dispute;d 2.1.2.10 If the Chargeback is Chargebackis completed successfully, return the disputed amount drawn/deducted in advance to the Merchant’s account(s). If the Chargeback is not successful, the amount drawn/deducted Char in advance will not be returned to the Merchant;Merchant.- 2.1.2.11 When a Chargeback has been filed, as well as when the Bank finds a deal suspicious and/or qualifies it as illegal, the Bank has the right to require (and if so, the Merchant shall submit to the Bank) all relevant information / documents / details of the card transaction in question / reservation document / the POS terminal receipt (evidence of the ofhte transaction) / invoice, etc. related to the Merchant and the deal. Furthermore, in cases hereunder, the Bank may require the Client’s personal information: name, GHDO )XUWKHUPRUH LQ FDVHV KHUHXQGHU WKH %DQN P surname, personal ID number, a copy of the ID document(s), the Client’s contact details. The Bank will documen,t(Ws)KH &OLHQW¶V eFBRanQk wWilDl FW GHW share the data only via the protected channels of international payment systems;channelsVoIfSA International, Mastercard Worldwide and China 8QLR- Q ³ 2.1.2.12 If 2.1. 12If within one calendar month the total amount of chargebacks reaches 12% of the total amount of deals, or the number and/or amount of transactions grows sharply, suspend settlement to the Merchant’s account(s) and provision of card services to the Merchant temporarily until the cause is identified (checked); 2.1.2.13 If a transaction is cancelled or a chargeback is filed, discuss the case and examine relevant information and/or documents and take a decision regarding reversal within 3 (three) days from the transfer of the transaction amount to the Bank’s account; 2.1.2.14 If relevant terms and conditions stipulated by the General Provisions are breached, without prejudice to its rights under the Law and this Agreement, the Bank is authorized to charge and if so, the Merchant is obliged to pay the penalties envisaged by these terms and conditions (imposition of penalties shall be deemed the Bank’s right and not its obligation). If and after such liabilities arise, the Bank is authorized to deduct respective amounts from any account of the Merchant by direct debit, to which the Merchant agrees in advance; 2.1.2.15 Forthwith suspend the service rendered to the Merchant and/or the process of settlement if there are material circumstances that may cause reputational damage to the payment network of the international payment systems; 2.1.2.16 Ensure that Bank Systems Services (JSC) personnel who are authorized to sign relevant Delivery and Acceptance Certificates deliver, collect, install and/or remove POS Terminals to/from/in the Merchant’s store(s) and provide full services related thereto; 2.1.2.17 draw the Fixed Fee from the Merchant’s account(s) for the number of months agreed in advance. 2.1.2.18 Notify the Merchant of the fraudulent transaction no later than the business day following the date of receipt of the card issuer’s notification and/or of information about the chargeback; 2.1.2.19 If/after the Merchant generates liability/ies towards the Bank, carry out conversion (as necessary) at the Bank’s commercial exchange rate when deducting the amount (including a fee, a penalty, a mistaken transfer) from the Company’s/Merchant’s account(s) by direct debit. 2.1.2.20 In the cases stipulated in Sub-Paragraphs 2.2.1.32, 2.2.1.33, 2.2.1.34 of the General Provisions, the Bank will inform the Merchant regarding the expenses /cost subject to compensation via the Bank’s Call Centre or internet banking or an SMS text. If the Merchant fails to compensate for the expenses / cost within 10 (ten) business days of receiving the information, the Bank may draw the amount from any account of the Merchant by direct debit (without the Merchant’s further consent and/or without further notifying the Merchant) (if there is available balance in the account(s)). If the funds are in different currency, the equivalent will be calculated at the Bank’s commercial rate as of the time of debiting.- 2.1.2.21 If the transaction amount is captured 30 (thirty) calendar days after pre-authorization, deduct by direct debit (without the Merchant’s further consent) the transaction amount on which capture was delayed.

Appears in 1 contract

Samples: Pos Terminal Agreement

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