What Is A Sub Merchant Agreement

In addition to the termination clauses in Section 5, this concession agreement is terminated automatically and immediately if the Corporation disconnects the supplier or if, for any reason, an acquirer is no longer authorized by the Corporation or if that purchaser does not have a valid licence with the Corporation for the use of a trademark accepted by the trader. In addition, the supplier may, at its discretion or on the instruction of an acquirer or company, immediately terminate the contract if the activities are considered fraudulent or illegal by the supplier, purchaser or corporation. In the event of a conflict or contradiction between a provision of this bargaining agreement and the standards, the standards apply to all transactions involving the Corporation or its cards. Sub-Merchant recognizes that the purchaser and the bank must have more precise control over the major payment facilitator traders, and sub-Merchant must therefore immediately notify the payment intermediary if it has more than $100,000 in annual card sales for a card organization or if it has a reasonable opinion of Sub-Merchant. In addition, Sub-Merchant must also immediately notify the payment intermediary whether it has processed more than $1,000,000 in card revenue per year in this subcontractor or if it has, in the reasonable opinion of sub-merchant, more than $1,000,000 in annual sales of cards processed there (“$1 million”). If Sub-Merchant reaches or exceeds the $1 million threshold, Sub-Merchant recognizes that the payment intermediary may terminate this contract and that Sub-Merchant is required to establish a direct contractual relationship with Acquirer, Bank and/or American Express, provided sub-Merchant meets the acceptance criteria of Acquirer or American Express dealers to continue to submit transactions for processing purposes. Following the conclusion of a direct contractual agreement with Acquirer, Bank and/or American Express, Sub-Merchant is bound by the purchaser, bank and/or American Express card acceptance agreement pending at the time, including the fees set for it. The acquisition of banking relationships allows merchants to sell goods and services using electronic payment methods. This partnership includes collecting information from the distributor`s payment gateway technology, communicating with card issuers via the purchaser`s network, obtaining authorization and billing the transaction to the dealer`s account. 2CO does not decide which transactions will be postponed and does not control the final resolution of the return of the lot.