Common use of Unauthorized Charges Clause in Contracts

Unauthorized Charges. An unauthorized charge is a sale that has been abstracted without approval. (These charges will lack an approval code from the P.O.S. system, have an invalid authorization code, lack an approval code from the credit center, or lack an approval code for amounts over the floor limit when floor limits are in effect. It is understood that charges that are equal to or less than the floor limit when it is in effect will be deemed authorized.) Monogram and MW shall work closely to continue the charge authorization control mechanisms in place in Stores prior to the Conversion Date and to develop new mechanisms to minimize violations of the authorization system. Monogram may immediately chargeback to MW unauthorized charges that are made on a stolen plate or a fraudulent account, provided that Monogram has notified MW and, if the Store is not operated by the Signature Companies or MW, the Store at which the sale was made, of the unauthorized charges within thirty (30) days after receipt by Monogram and/or Assignees of a complaint from a Cardholder. In addition, Monogram may chargeback to MW other unauthorized charges to an Account that is or becomes delinquent, provided that Monogram has notified MW and, if the Store is not operated by the Signature Companies or MW, the Store at which the sale was made, of the unauthorized charges within thirty (30) days after Monogram's discovery of the unauthorized charges.

Unauthorized Charges. An unauthorized charge is a sale on a Purchased Monogram Account or Non-Converted Account that has been abstracted without approvalapproval from (respectively) Monogram or MWCC. (These charges will lack an approval code from the P.O.S. system, have an invalid authorization code, lack an approval code from the credit center, or lack an approval code for amounts over the floor limit when floor limits are in effect. It is understood that charges that are equal to or less than the floor limit when it is in effect will be deemed authorized.) Monogram and MW shall work closely to continue the charge authorization control mechanisms in place in Stores prior to the Conversion Date and to develop new mechanisms to minimize violations of the authorization system. Monogram MWCC may immediately chargeback to MW unauthorized charges on Purchased Monogram Accounts or Non-Converted Accounts that are made on a stolen plate or a fraudulent account, provided that Monogram has notified MW and, if the Store is not operated by MW or the Signature Companies or MWCompanies, the Store at which the sale was made, made have been notified of the unauthorized charges within thirty (30) days after receipt by Monogram and/or Assignees or MWCC of a complaint from a Cardholder. In addition, Monogram MWCC may chargeback to MW other unauthorized charges to an a Purchased Monogram Account or Non-Converted Account that is or becomes delinquent, provided that Monogram has notified MW and, if the Store is not operated by MW or the Signature Companies or MWCompanies, the Store at which the sale was made, made have been notified of the unauthorized charges within thirty (30) days after Monogram's discovery by Monogram or MWCC of the unauthorized charges.