Authorization-Capture Transactions Clause Samples
The Authorization-Capture Transactions clause defines the process by which a payment is first authorized and then subsequently captured for settlement. In practice, this means that when a customer initiates a transaction, the payment amount is initially reserved or held on their account (authorization), and only after certain conditions are met—such as delivery of goods or services—is the payment actually processed and funds transferred (capture). This clause ensures that merchants do not receive payment until they have fulfilled their obligations, thereby protecting both parties and reducing the risk of disputes over unfulfilled orders.
Authorization-Capture Transactions. If a Transaction is sent to FORTE for Authorization (as more fully defined in Appendix A) only or for delayed processing, then it will be the responsibility of AGENCY to submit a corresponding “capture” Transaction within forty-eight (48) hours of the Authorization in order to complete the Transaction process for settlement. Transactions which are not captured within forty-eight (48) hours of Authorization are untimely and may be rejected by ▇▇▇▇▇.