HONORING CARDS definition
HONORING CARDS. Merchant shall honor without discrimination any valid Card when properly presented as payment by a Cardholder in connection with the provisions of goods or services or both by Merchant to Cardholder. Merchant will not establish minimum or maximum sale amounts as a condition for honoring cards or impose any surcharge on Card transactions. Discounts for payments in cash are permitted. 2. PERMITTED TRANSACTIONS: "Permitted Transactions" shall be deemed to mean those Card transactions by Merchant only for the type of business activity described on the Application and only where all products and services transacted with a Cardholder and processed under this Agreement shall have been provided in full by Merchant at the time of the transaction (except upon prior written approval of Bank). Merchant is prohibited from submitting to Bank any Sales Drafts or Credit Vouchers for any transaction that are not Permitted Transactions, including but not limited to, cash advances in any amount to a Cardholder, a Card transaction for which a principal of Merchant is also the Cardholder, or any transaction which Merchant knew or should have known to be fraudulent or not authorized by the Cardholder.
Examples of HONORING CARDS in a sentence
HONORING CARDS: Merchant shall honor without discrimination any valid Card when properly presented as payment by a Cardholder in connection with the provisions of goods or services or both by Merchant to Cardholder.