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2.13.5 Settlement period

No: BCT/15631 Date(g): 2/5/2012 | Date(h): 11/6/1433 Status: In-Force

The Operator shall disclose within the Merchant Service Agreement the elapsed time between the deposit of transactions, these being either captured on paper or electronically, and the crediting of the value, less any applicable charges according to section 2.13.2, into the merchant’s account. The Operator must pay or credit their contracted Merchants after the transaction reconciliation process is completed according to the terms and conditions stipulated in the Merchant Service Agreement. Payment must cover the transaction totals reduced by the credits (reversals, adjustments and refunds) and any applicable Merchant discounts.