POS Device Clause Samples
The POS Device clause defines the requirements and specifications for the point-of-sale (POS) hardware or software used in processing transactions. It typically outlines the types of devices permitted, their compatibility with payment systems, and any necessary certifications or security standards they must meet. By establishing clear expectations for the POS devices to be used, this clause ensures reliable transaction processing and helps prevent disputes over equipment suitability or compliance.
POS Device. A Terminal or other point-of-sale device at a Carrier location that conforms with the requirements established from time to time by Servicer and the applicable Card Association. Processing Date – Any date on which Servicer processes a Card Transaction using its merchant processing system. Relevant Authorities – Any governmental or other agencies or any regulatory authorities with jurisdiction over, or otherwise material to, the business, assets, or operations of Carrier.
POS Device. A terminal, software or other point-of-sale device at a Merchant location that conforms with the requirements established from time to time by ▇▇▇▇▇▇ and the applicable Payment Network.
POS Device. 2.1. The Merchant may elect to either purchase a POS device (“Purchased POS Device”) or rent a POS device (“Rented POS Device”) from VPS.
2.2. The Merchant must retain control over the POS device at all times and allow VPS or VPS’ Third Party Service Providers to inspect or conduct Routine Maintenance on the POS device upon request.
2.3. The risk in and to the POS device shall pass to the Merchant on delivery of the POS device to the Merchant or the Merchant’s nominated third party, save for where such passing of risk is expressly excluded in terms of the Agreement. The Merchant shall be liable for loss of and damage to the POS device and VPS shall apply set-off, net-settlement and/or debit the Merchant’s Bank Account with the value of the loss or damage incurred by VPS as a result of the Merchant’s actions or omissions. The full replacement costs of the POS device will be set-off, net-settled and/or debit from the Merchant’s Bank Account in the event of loss of POS device.
2.4. Upon termination of the Agreement, the Merchant shall return the Rented POS Device to VPS in materially the same working condition (fair wear and tear excepted). The Merchant must allow VPS and Vodacom’s Third Party Service Providers access to the Merchant’s premises to collect the Rented POS Device on the agreed collection date.
2.5. If the Merchant does not allow VPS to collect the Rented POS Device, the Merchant irrevocably authorises Vodacom, by using the Service and products, to apply set-off, net-settlement and/or to debit the Merchant’s Bank Account with the full replacement cost of the Rented POS Device and to immediately terminate the Merchant’s Agreement.
2.6. VPS reserves the right to terminate the Agreement and to collect the Rented POS Device that has not been used for a period of 3 (three) consecutive months.
POS Device. 4.1. The Merchant must retain control over the POS device at all times and allow VPS or VPS’ Third Party Service Providers to inspect or conduct Routine Maintenance on the POS device upon request.
4.2. The risk in and to the POS device shall pass to the Merchant on delivery of the POS device to the Merchant or the Merchant’s nominated third party, save for where such passing of risk is expressly excluded in terms of the Agreement. The Merchant shall be liable for loss of and damage to the POS device and VPS shall apply set-off, net-settlement and/or debit the Merchant’s Bank Account with the value of the loss or damage incurred by VPS as a result of the Merchant’s actions or omissions. The full replacement costs of the POS device will be set-off, net-settled and/or debit from the Merchant’s Bank Account in the event of loss of POS device.
4.3. Upon termination of the Agreement, the Merchant shall return the POS device to VPS in materially the same working condition (fair wear and tear excepted). The Merchant must allow VPS and Vodacom’s Third Party Service Providers access to the Merchant’s premises to collect the POS device on the agreed collection date.
4.4. If the Merchant does not allow VPS to collect the POS device, the Merchant irrevocably authorises Vodacom, by using the Service and products, to apply set-off, net-settlement and/or to debit the Merchant’s Bank Account with the full replacement cost of the POS device and to immediately terminate the Merchant’s Agreement.
4.5. VPS reserves the right to terminate the Agreement and to collect the POS device that has not been used for a period of 3 (three) consecutive months.
POS Device. The electronic terminal device approved by Nexi, which is either owned by the Merchant or the Merchant procures and installs such electronic terminal device by independent third-party provider designated by ▇▇▇▇ at the execution of the Agreement or by a provider of its choice and which is used by the Merchant for the performance of Transactions, by Card. The POS Device may be incorporated into another device or system of the Merchant.
POS Device. You acknowledge and agree that you must lease the POS Device(s) from the Bank. You acknowledge and agree with all the respective terms and conditions herein regarding the POS Device(s).
(a) The POS Device shall at all times remain the sole and exclusive property of the Bank. You agree to assume full responsibility for the loss, damage and theft of the POS Device upon receipt by you. You agree to immediately notify us in writing if your POS Device is lost, stolen or used without your authorization, or if your POS Device experiences any malfunctions, errors or other operational problems.
(b) You agree to install and maintain, at your sole risk and cost, an appropriate communication line for the proper operation of the POS Device. You will also provide and pay for a suitable electrical current and secure place to install and operate the POS Device. You will be solely responsible for any use or misuse of the POS Device and any data or Transactions transmitted through the POS Device.
(c) The POS Device(s) monthly lease fee and any other fees and expenses to be charged by the Bank will be set forth in the Schedule 1 – Pricing Schedule or other documentation provided to you. You hereby agree to pay and authorize and direct the Bank to automatically deduct any and all such fees and expenses from any of your Account(s) at the Bank or its affiliate(s).
(d) The Bank will provide service and maintenance of the POS Device, including the provision of parts, for the duration of the lease agreement at no additional cost to you; provided, however, you agree to pay for any maintenance, repairs and cost of replaced parts resulting from your negligence, willful misconduct or failure to comply with instructions provided by the Bank or the manufacturer’s operations manual. In addition, you agree to pay for any maintenance, repairs and cost of replaced parts resulting from telephone line problems, electrical problems, accidents, spilled liquids, vandalism, theft, fire, flood, wind, lightning and other acts of God, and any repairs, alterations or modifications to the POS Device not performed by the Bank.
(e) The Bank will provide separate documentation to you relating to requests and contact information for support and maintenance of the POS Device. You agree to not allow any third-party other than Bank to provide service or maintenance to the POS Device. If replacement of your POS Device becomes necessary at the sole discretion of the Bank, it may be replaced with any other type...