Common use of Timing of Payment To Merchant Clause in Contracts

Timing of Payment To Merchant. Unless a reserve or delay is placed on the Merchant’s account, SPS-EFT will transmit settlement to Merchant’s bank within seventy-two (72) hours of the time when Merchant Batches Out the applicable transaction. SPS-EFT may hold back certain amounts where SPS- EFT is investigating a transaction for breach of warranty or transactional requirements by Merchant or for other reasons.