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.
Appears in 1 contract
Sources: Merchant Services Agreement
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 Vodacomit’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.
Appears in 1 contract
Sources: Merchant Services Agreement