Common use of Presentation of Payment Clause in Contracts

Presentation of Payment. 8.1 In the case of electronic Transactions, the following will apply: 8.1.1 the Merchant must present a Terminal generated receipt for payment by means of an interchange of electronic data between the Terminal and NuPay through NuPay. NuPay will determine the frequency of the interchange of data. But the Merchant must make sure that it deposits all Terminal generated receipts electronically within 3 (three) Business Days of the Transaction date; 8.1.2 if, for whatever reason, this interchange of data cannot take place NuPay will be entitled to get the necessary information from the Merchant’s copy of the Terminal generated receipt and then to process the affected Transaction manually; 8.1.3 the Merchant agrees to notify NuPay immediately of any mistakes in the data that is interchanged because of a defective Terminal or communication link. In such a case NuPay’s liability will be limited to correcting the mistakes in the data; 8.1.4 NuPay will credit or debit the Merchant’s nominated bank account or any other account held by the Merchant with the total net amount of all duly completed and valid Terminal generated receipts and valid credit vouchers presented for payment; and 8.1.5 Every time NuPay credits the Merchant’s nominated bank account, NuPay will retain the right to cancel the payment it has made on any invalid sales vouchers or electronic Transactions by debiting the Merchant’s nominated bank account or any of the Merchant’s other accounts with the amount of the invalid sales voucher or invalid electronic Transaction.

Presentation of Payment. 8.1 In the case of electronic Transactions, Transactions the following will apply: 8.1.1 the Merchant must present a Terminal generated receipt for payment by means of an interchange of electronic data between the Terminal and NuPay through NuPay. NuPay will determine the frequency of the interchange of data. But the Merchant must make sure that it deposits all Terminal generated receipts electronically within 3 (three) Business Days of the Transaction dateTransactiondate; 8.1.2 if, for whatever reason, this interchange of data cannot take place place, NuPay will be entitled to get the necessary information from the Merchant’s copy of the Terminal generated receipt and then to process the affected Transaction affectedTransaction manually; 8.1.3 the Merchant agrees to notify NuPay immediately of any mistakes in the data that is interchanged because of a defective Terminal or communication link. In such a case case, NuPay’s liability will be limited to correcting the mistakes in the data; 8.1.4 NuPay will credit or debit the Merchant’s nominated bank account or any other account held by the Merchant with the total net nett amount of all duly completed and valid Terminal generated receipts and valid credit vouchers presented for payment; and 8.1.5 Every time NuPay credits the Merchant’s nominated bank account, NuPay will retain the right to cancel the payment it has made on any invalid sales vouchers or electronic Transactions by debiting the Merchant’s nominated bank account or any of the Merchant’s other accounts with the amount of the invalid sales voucher or invalid electronic Transaction.