Auth/Capture Transactions Clause Samples

The "Auth/Capture Transactions" clause defines the process by which payment transactions are authorized and subsequently captured for settlement. In practice, this means that when a customer initiates a payment, the transaction is first authorized to ensure sufficient funds or credit, and then, at a later stage, the funds are actually transferred (captured) to the merchant. This clause typically applies to credit card or electronic payment systems, where there may be a delay between authorization and final settlement, such as in hotel bookings or car rentals. Its core function is to provide a clear framework for handling payments, reducing the risk of declined transactions, and ensuring both parties understand when funds will be secured and transferred.
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Auth/Capture Transactions. If a Transaction is sent to FORTE for authorization only or for delayed processing, then it will be the responsibility of AGENCY to submit a corresponding “capture” Transaction within 48 hours of the authorization in order to complete the Transaction process for settlement. Transactions which are not captured within 48 hours of Authorization are untimely and may be rejected by FORTE.
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Auth/Capture Transactions. If Merchant opts to utilize an “Authorize” method rather than a “Sale” method for a Transaction, then it will be the responsibility of Merchant to submit a corresponding “Capture” Transaction within 48 hours of the authorization in order to complete the Transaction process for settlement. Transactions which are not captured within 48 hours of Authorization are untimely and may be rejected by Forte.
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Related to Auth/Capture Transactions

  • Non-Arm’s Length Transactions To the knowledge of the Company, except as disclosed in the U.S. Prospectus and the Canadian Prospectus, neither the Company nor any of its subsidiaries is a party to any contract, agreement or understanding with any officer, director, employee or any other person not dealing at arm’s length with the Company or any such subsidiary which is required to be disclosed by applicable Canadian Securities Laws.

  • Arm’s Length Transactions During the term of this Agreement, all transactions and dealings between the Trust Depositor and its Affiliates will be conducted on an arm’s-length basis.

  • Adverse Transactions Enter into any transaction which materially and adversely affects the Collateral or its ability to repay the Obligations in full as and when due;

  • Processing Transactions 2 2.1 Timely Pricing and Orders.................................... 2 2.2

  • Closing Transactions On the terms and subject to the conditions set forth in this Agreement, the following transactions shall occur in the order set forth in this Section 2.1: