Transaction Processing Accuracy Standard Sample Clauses

Transaction Processing Accuracy Standard. ‌ The Contractor shall meet the Transaction Processing Accuracy Standard specified in FNS Regulations 7 Code of Federal Regulations 274.12(h). The Contractor shall provide the State a weekly Report which accurately tracks and reports performance of this Performance Standard and provides sufficient information for the State to determine whether the Performance Standard has been met. In the event the Contractor does not meet this Performance Standard, the Contractor shall immediately research to determine the cause and deliver to the State a corrective action plan. In the event it is determined that the cause is due to a transaction processing error or errors (e.g., an inappropriate debit posted to a Client Account), the Contractor shall immediately research the Deficiency to determine the cause and correct each such Deficiency. In addition, in the event the Deficiency resulted in a loss to any Client, Cardholder, Retailer, Third-Party Processor, or other party, the Contractor shall promptly reimburse such Client, Cardholder, Retailer, Third-Party Processor, and other party for the actual amount of such Deficiency and the Contractor shall also pay to the State any costs and damages incurred by the State as a result of each such Deficiency.