Common use of Conveyed Transactions Clause in Contracts

Conveyed Transactions. Where Merchant has a valid agreement in place with American Express or an Other Network for the acceptance of American Express’ or the Other Network’s cards, Merchant may submit a transaction on American Express or such Other Network to Processor for Processor to convey to American Express or the relevant Other Network. Payment of proceeds due to Merchant for a conveyed transaction will be governed by the agreement Merchant has with American Express or the Other Network, and Processor does not bear any responsibility for such American Express or Other Network, including, without limitation, the funding and settlement of Merchant’s conveyed transactions. The fees payable for the conveyed transactions are set out on the Other Fees Disclosure Box in the Application.