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Vantiv Merchant Processing Agreement

aprilie 14, 2021

The negotiator may set a minimum transaction amount to accept a card that gives access to a credit account, under the following conditions: (i) the minimum amount of the transaction does not distinguish between card issuers; (ii) the minimum amount of the transaction does not distinguish between MasterCard, Visa or any other acceptance mark; and (iii) the minimum amount of the transaction does not exceed $10 (or a higher amount set by the Federal Reserve). Sub-dealers may set a maximum transaction amount to accept a card giving access to a credit account, under the following conditions: Sub-concession is an i) department, agency or instrumentality of the U.S. government; (ii) companies owned or controlled by the U.S. government; or (iii) sub-dealers whose main activity is reflected in one of the following MCCs: 8220, 8244, 8249 – schools, business or profession; and the maximum amount of the transaction does not distinguish between MasterCard, Visa or any other acceptance mark. EXCEPT FOR THOSE EXPRESS WARRANTIES MADE IN THIS AGREEMENT, ACQUIRER DISCLAIMS ALL WARRANTIES, INCLUDING, WITHOUT LIMITATION, ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. The exclusive and exclusive recourse of the negotiator for all claims against purchasers arising from or in any way in connection with the transactions provided for in this regard is the termination of this agreement. In the event that sub-dealers have claims regarding the services, rights and/or obligations defined in this agreement, subcontractors object to the supplier and not the purchaser, unless the operating settlement is expressly different. Under no circumstances is Acquirer responsible to the subcontractor for the agreement or services. The subcontractors acknowledge that the acquirer provides this contract only in support of the supplier`s processing relationship with the subcontractor, that Acquirer is not responsible for any action or non-action of the supplier, and that Acquirer assumes no responsibility for the products or services made available to the subcontractor by the supplier. If the supplier is unable to provide its services to subcontractors under this agreement and Acquirer chooses to provide these services directly, Sub-Merchant acknowledges and accepts that the provisions of this agreement no longer apply, and the terms of the purchaser`s current Bank Card Merchant Agreement, which would be made available to the subcontractor, govern the purchaser`s relationship with the subcontractor. If the supplier then provides its services to subcontractors under this agreement, Acquirer will cease to use them as soon as the supplier is notified and this agreement will govern the purchaser`s relationship with sub-merchant.

The negotiator may only enter into sale transactions as a result of good faith sales by traders to cardholders and it is expressly prohibited to provide sales transactions resulting from sales made by a person or organization other than the negotiator or for purposes related to illegal or prohibited activities, including, but not exclusively, money laundering or terrorist financing.

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