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procedures for presentment of checks for electronic processing pursuant to the Rules and applicable law, MERCHANT agrees to comply with such procedures and to accept such “properly
presented” checks for electronic processing. Paya-EFT may establish minimum and maximum amount limitations on electronic checks presented for electronic processing by MERCHANT
And MERCHANT shall not accept or attempt to process electronic checks in excess of the maximum limitations established by Paya-EFT, {n no event will Paya-EFT accept or will
MERCHANT attempt to process an electronic Checks-By-Web greater than: (i) $2,500 for MERCHANTS that have been identified as “Existing Relationship” (i.¢, Bill Payment) Clients on
the Application and (ii) $500 for all other MERCHANTS unless otherwise approved in writing by Paya-EFT. Paya-EFT shall also establish the number of electronic checks that may be
submitted on a daily basis by any customer for electronic processing. MERCHANT agrees to provide Paya-EFT with any and all information neededto establish such limitations, MERCHANT
furtheragrees to inform Paya-EFT immediately of any changes in business activities, rules or regulations, which may affect these limitations. MERCHANT further agrees to abide by these
limitations as a condition for Paya-EFT to electronically process any checks,
AUTHORIZATION. RETRIEVAL REQUESTS. Whereby a financial institution, regulatory or law enforcement agency, or similar authotity has demanded from Paya-EFT proof of valid
consumer authorization, in accordance with NACHA Rules, MERCHANT shall provide said proof of authorization to Paya-EFT within (2) business days. In the event that MERCHANT
cannot provide the appropriate consumer authorization, and Paya-EFT suffers a penalty enforced by NACHA, Paya-EFT shall have the right to offset such penalty and charge MERCHANT
aminirmum of ($1000 per instance andup to a indiximum of $100,000 per month until the problem is resolved.
DAILY SETTLEMENT OF TRANSACTIONS. “Batch out”. shall mean that MERCHANT transmits all of the transactions to Paya-EFT by midnight (12:00 am) on the day Paya-EFT
authorizes the sale. In addition, @ny transactions contained in an utitimely batch out may be refused or become subject to chargeback 6r held until after a sixty-day period for consumer
Gliargebacks by Paya-EPT. [fs requested by Paya-EFT, all docuinentation related ta the customér’s Internet ACH Atithorization, including but not limited to cistomer’s telephone number
and billing and shipping address, must be faxed and received by Paya-EFT within 48 hours from the request date. MERCHANT acknowledges that failure to batch out on a timely basis may
de grounds for siispension or termination at Paya-EFT’s sole discretion, Paya-EFT roseryes the fight to hold additional monies as riecessary to reduce any risk associated with daily processing
of electronic checks, Paya-EFT may, in its sole discretion and to insure against, place a hold on funds due to MERCHANT in setileinent of transactions in order to insure against potential
losses. Paya-EFT will then provide a net deposit to MERCHANT oiter a period of time aceeptabls to Paya-EFT (usually 90 days ftom transaction processing date), In addition, MERCHANT
understands that a failure to batch out will delay funds boinig deposited into MERCHANTS’ account, MERCHANT | also acknowledges that
t Pay FT may apply ia $25. 00 fee, for each Paya-
EFT-assigned tetfuinal ID number daily on which MERCHANT fails to transthit’a timely batch out.”
19, ELECTRONIC CHECK. PROCESSING, Paya*EFT shall not be resporisible for the settlement of any Checks-By- Web for which. PaySEET has not received traniactions : Entries from
MERCHANT for processing within twenty-four howis of the initial transaction date of the transaction. MERCHANT shall be regiiired to Submit all documentation related to thé transactions
to Paya-EFT at Paya-EFT’s request. MERCHANT shall make its books and records available to Paya: -EFT iiin order to verify compliance with this agreement and iin order | to verify any
information in an Entry.
ll, ELECTRONIC CHECKS FOR WHICH MERCHANT WILL. NOT-BE FUNDED FOR. “UNDER CHECKS -BY-WEB: in addition to-the provisions ‘set forth in4 this ‘Agreement and
notwithstanding arly other provisions to the contrary, Payer -EFT shall have'né obligation to reimburse MERCHANT for ACH transactions that are: (a) Not honored by the customer's financial
institution because of tlie customer’s inStruictions to “stop payment” on the original source doctiment or electronic check; (b) Fraudulent, whether MERCHANT, its employees or agents are
inyolved, eithor as a principal or as an accessory, in the issudncé; (c) Accepted by MERCHANT or its eiuployees with advance knowledge of the’ likelihood of its being dishonored even
though authorized by Paya-EFT; (d) Lost, stolen, altered or Counterfeit, and Paya-EFT has feason to believe that MERCHANT failed to use reasonable Garein Verifying the customer's
identity; (¢) Given as a substitute for a previously dcéepted check, whether or not the check was authorized by Company or, any check upon which MERCHANT ‘has accepted full or partial
payment; (f) One 6f multiple checks presénted-to MERCHANT in ii single transaction for electronic processing; (g) For goods, if the goods are. sibsequently returned by customer or
repossessed by MERCHANT ‘or lien holder, within 65 days of date of purchase; (h) Not honored by the customer’s financial institution because of thé failuie of, the closing of or government-
imposed restrictions ori withdrawals from the fiiancial institution; 2) Checks for which Paya-EFT previously denied authorization; {j) Not.in compliance with this Agreement and not
proceséed in accordance with the ACH transaction prdcessing provisions of this Agreement, (k) Incorréct Routing aiid Aceotint Nuniber data Entry; ® Unable’ fo ‘locate ‘accouint or invalid
accoiitit nuntbér returns or unauthorized corporate account returns, a
12, PROVISIONAL SETTLEMENTS, MERCHANT: “acknowledges that all settlements between Paya-EFT and MERCHANT are provisional and are subject tto the custome
the ‘cha'ges ‘against the customer’s account,
ADDITIONAL MERCHANT REPRESENTATIONS AND WARRANTIES, MERCHANT also represents and warrants that: (i) thé description OF type ‘and iiatiire of MERCHANT’ 's business
in the Application is voniplete ‘and accurate arid will rémain sé during the térm of this Agreemént thé Application has been signed by a principle’ of MERCHANT ind that if there is a change
in Control of MERCHANT that MERCHANT. will not submit Entries under this'Agreement without Paya- BFT’s prior written consent; (ii) in the event of a security breach of MERCHANT’s
records or payniient gateway, MERCHANT will Aofify Paya-EFT immediately of such a breach and to provide as tntich information as may be required to allow Paya-BFT to-act accordingly
“to protect Paya-EFT’s legal rights ‘and résponsibilities and those of corisumers affected by the breach, (iii) MERCHANT has not submitted Electronic checks 'drawn fron it8 personal or
busidiess checkitig accounts on the MERCHANT"s elecivoni¢ chéck payment gateway; (iv) MERCHANT has used only the name and address contained in the Application on all its sales
drafts; (v) MERCHANT has not submitted duplicates of any transaction; and (v) the banking information submitted to Paya-EFT for processing has ot ‘been altered by! MERCHANT.
REVOS15 2023 Page 9 of 11
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PLEASE NOTE: The complete Merchant Agreement includes these Terms ane Conditions and the Application on three (3) additional pages.
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