Sales Drafts Clause Samples

The 'Sales Drafts' clause defines the requirements and procedures for creating, submitting, and processing sales drafts, which are records of credit or debit card transactions. Typically, this clause outlines the format, timing, and supporting documentation needed for sales drafts to be accepted by payment processors or financial institutions. For example, it may specify that merchants must retain signed copies of sales drafts or submit them electronically within a certain timeframe. The core function of this clause is to ensure accurate record-keeping and facilitate the smooth settlement of card transactions, thereby reducing disputes and chargebacks.
Sales Drafts. A. Forms. You will use a Sales Draft to document each Card transaction. Each Sales Draft will be legibly imprinted with: (i) Merchant’s name, identification number, and city and state; (ii) the information embossed on the Card presented by the Cardholder (either electronically or manually); (iii) the date of the transaction (iv) a brief description of the goods or services involved;
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Sales Drafts. You shall use a Sales Draft in each Sales Transaction. Each Sales Draft shall be imprinted with the appropriate legends in accordance with Section 6 of these Additional terms and Conditions. The Bank Card must actually be presented, even if for some reason the information embossed thereon is written in by hand (unless the Sales Transaction is transacted by mail or by telephone In accordance with Section 4.7 and Section 19 of these Additional Terms and Conditions). The Sales Draft shall also contain: the date of the Sales Transaction; the total cash price of the sale (including any applicable state or federal taxes), or (i) the amount to be charged if a partial payment is made in cash or by check in accordance with Section 4.10 (a) of these Additional Terms and Conditions, or (ii) the amount to be charged if a partial payment is made as a deposit or as the balance owing after a deposit has been made in accordance with Section 4.10(b) of these Additional Terms and Conditions. A short description of the merchandise or services; The words “delayed deposit,” “deposit,” or “balance” as appropriate and the Authorization approval code if Authorization for delayed deposit is given in accordance with Section 4.3(c) and Section 4.10(b) of these Additional Terms and Conditions; The letters “MO” (mail order), “TO” (telephone order), or “PO” (Preauthorized Order), If applicable to the Sales Transaction; and if you are using an EDC Terminal, the Cardholder’s account number and your name and location code (or city and state) The Cardholder shall sign the Sales Draft unless the Sales Transaction is completed by mail or telephone subject to Section 4.7 and Section 19 of these Additional Terms and conditions or is a Preauthorized Order. The Cardholder shall not be required to sign the Sales Draft until the final Sales Transaction amount is known and indicated in the total column. You shall deliver a true and completed copy of the Sales Draft to the Cardholder. You shall not alter any Sales Draft after it has been signed by the Cardholder.
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Sales Drafts. Company will provide First Data a copy of any sales draft(s) upon request.
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Sales Drafts. 3.1 Each Transaction that you submit must be supported by a single Sales Draft containing all of the following: (a) A clear imprint of the Card, showing account number and expiration date, truncated if applicable; (b) The signature of the Cardholder; (c) A short description of the goods or services sold; (d) The total amount charged; (e) Your business name and Merchant number; and (f) You will retain the Merchant copy of the Sales Draft or credit memorandum for at least three years following the date of completion of the Card Transaction (or such longer period as the Rules require). 3.2 Instead of an imprint of the Card on the Sales Draft, you may rely on the terminal printout of the Card account number on the Sales Draft only in cases where the terminal is able to successfully read the magnetic stripe from the Card (i.e., the Card number is not keyed in) and the Transaction is authorized by the terminal without any Referral or voice authorization. 3.3 You may not combine different papers to create a single Sales Draft. All the requirements of the Sales Draft must be met by a single page document. 3.4 You must timely provide us with copies of any Sales Drafts that we request. Failure to provide us with a valid Sales Draft may result in a Chargeback. 3.5 If you accept a Transaction where you do not obtain a Sales Draft meeting all of the requirements of Section 3.1, you do so at your own risk.
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Sales Drafts. 3.1 Each Transaction that you submit must be supported by a single Sales Draft containing all of the following: a) A clear imprint of the Card, showing account number and expiration date, truncated if applicable; b) The signature of the Cardholder; c) A short description of the goods or services sold; d) The total amount charged; e) Your business name and Merchant number; and f) You will retain the Merchant copy of the Sales Draft or credit memorandum for at least three years following the date of completion of the Card Transaction (or such longer period as the Rules require).
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Sales Drafts 
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