Referred Merchant definition
Examples of Referred Merchant in a sentence
Upon request MSP will assist NOVA and Member in coordinating the implementation of such safeguards as NOVA or Member determine is prudent or necessary to create or require, with respect to any Referred Merchant, reserves, holdbacks, deposits or other safeguards against merchant losses.
If EVERTEC enters into a Merchant Agreement with such potential Merchant, BPPR shall be paid a referral fee of $25 for each Referred Merchant (the “BPPR Referral Compensation”).
MSP shall provide to each Referred Merchant necessary training in the procedures and Rules applicable to the acceptance of Credit Cards, the operation of terminal equipment and the use of NOVA products and services.
Without limitation as to additional or different safeguards, NOVA or Member may require a Referred Merchant to pay up to 100% of the funds deposited by a Referred Merchant for up to six months or more.
MSP shall also train new employees of the Referred Merchant as necessary.