Common use of Timely Manner Clause in Contracts

Timely Manner. As a general rule the parties will only bear the exchange rate fluctuation risk for Foreign Transactions that are presented to Planet Payment in a timely manner. As a general rule the Acquirer Merchant shall solely bear the amount of any Presentment Losses incurred for Foreign Transactions presented to Planet Payment more than 48 hours following the Transaction date and time (or such other time limit as may be agreed to by the parties). The Acquirer Merchant shall be charged (or the Merchant Settlement Amount offset by) such Presentment Losses. Any fee charged to Acquirer Merchants by the Acquirer for such late presentment shall be divided between the parties in the proportions in which they share the