Common use of Timely Presentment of MCP Transactions Clause in Contracts

Timely Presentment of MCP Transactions. The Merchant must present all MCP Transactions for settlement to Peoples Trust within one day after authorization, in order to minimize the risk of loss attributable to movement in the currency exchange rates for the various Acceptance Currencies between the time that a Foreign Transaction is completed and the submission of the batch clearing and settlement files to Peoples Trust. For the avoidance of doubt, neither Peoples Trust nor any of its vendors bears responsibility for any foreign exchange loss attributable to an MCP Transaction processed using MCP.

Timely Presentment of MCP Transactions. The Merchant must present all MCP Transactions for settlement to Peoples Trust within one day after authorization, in order to minimize the risk of loss attributable to movement in the currency exchange rates for the various Acceptance Currencies between the time that a Foreign Transaction is completed and the submission of the batch clearing and settlement files to Peoples TrustPeoples. For the avoidance of doubt, neither Peoples Trust nor any of its vendors bears responsibility for any foreign exchange loss attributable to an MCP Transaction processed using MCP.

Timely Presentment of MCP Transactions. The Merchant must present all MCP Transactions for settlement to Peoples Trust Pivotal within one day after authorization, in order to minimize the risk of loss attributable to movement in the currency exchange rates for the various Acceptance Currencies between the time that a Foreign Transaction is completed and the submission of the batch clearing and settlement files to Peoples TrustPivotal. For the avoidance of doubt, neither Peoples Trust Pivotal nor any of its vendors bears responsibility for any foreign exchange loss attributable to an MCP Transaction processed using MCP.