Common use of Transaction Restrictions Clause in Contracts

Transaction Restrictions. Merchant will not submit any transaction to Vantage which (a) adds any surcharge, unless Merchant has properly notified Vantage and the Card Brands and such surcharge is compliant with the Rules and Law; (b) adds any tax to the transaction, except for those taxes allowed or required by Law, and all such required or allowed taxes must be included in the transaction amount and not separately collected; (c) received any authorization response other than “approved” or for which an authorization was not obtained; (d) is for products that have not yet shipped or services have not yet been performed, as applicable; (e) is made up of multiple authorization requests for amounts less than the total sale amount; (f) results in the disbursement of cash, scrip, or cash equivalents; or (g) involves any goods or services which are counterfeit or infringe on any party’s intellectual property rights. Merchant will not submit any refund or credit to Vantage which: does not result from a sales transaction processed by Vantage; exceeds the amount shown on the original sales transaction; is not credited to the Card used in the original sale transaction (or for which the original sales transaction did not involve a Card); would result in an overdraft; or more than two days after a non-disputed request or a regulatory requirement granting the customer a right to a refund. If Merchant, or any third party service provider or vendor of Merchant, adds any surcharge to a transaction submitted to Vantage, Merchant represents and warrants to Vantage that (x) Merchant has reviewed and approved such surcharge; (y) such surcharge is compliant with all Rules and Law; and (z) Merchant has fully complied with the requirements set forth in part (a) of this Section 4.3.

Transaction Restrictions. Merchant will not submit any transaction to Vantage which (a) adds any surcharge, unless Merchant has properly notified Vantage and the Card Brands and such surcharge is compliant with the Rules and Law; (b) adds any tax to the transaction, except for those taxes allowed or required by Law, and all such required or allowed taxes must be included in the transaction amount and not separately collected; (c) received any authorization response other than “approved” or for which an authorization was not obtained; (d) is for products that have not yet shipped or services have not yet been performed, as applicable; (e) is made up of multiple authorization requests for amounts less than the total sale amount; (f) results in the disbursement of cash, scrip, or cash equivalents; or (g) involves any goods or services which are counterfeit or infringe on any party’s intellectual property rights. Merchant will not submit any refund or credit to Vantage which: does not result from a sales transaction processed by Vantage; exceeds the amount shown on the original sales transaction; is not credited to the Card used in the original sale transaction (or for which the original sales transaction did not involve a Card); would result in an overdraft; or more than two days after a non-disputed request or a regulatory requirement granting the customer a right to a refund. If Merchant, or any third party service provider or vendor of Merchant, adds any surcharge to a transaction submitted to Vantage, Merchant represents and warrants to Vantage that (x) Merchant has reviewed and approved such surcharge; (y) such surcharge is compliant with all Rules and Law; and (z) Merchant has fully complied with the requirements set forth in part (a) of this Section 4.3.