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PAYMENT RESOURCES INTERNATIONAL 1 - 2004
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PAYMENT RESOURCES INTERNATIONAL 1 - 2004
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Last modified
1/3/2012 2:19:42 PM
Creation date
4/5/2004 3:34:35 PM
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Contracts
Company Name
Payment Resources International
Contract #
N-2004-024
Agency
Finance & Management Services
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<br />27. Magnetic Stripe EDC Terminal. If City is using an EDC Terminal that reads the magnetic stripe on <br />a Bank Card, City shall not print or display more information that than which is normally embossed on <br />the ftont of the Bank Card. <br /> <br />28. Script. City shall not deposit any Transaction Draft that arises ftom acceptance of a Bank Card at <br />terminals that dispense scrip. <br /> <br />29. Traveler Cheques. City shall not effect a Transaction representing the sale of traveler cheques if the <br />sole purpose ofthe sale is to allow the Cardholder to make a cash transaction of merchandise or <br />services from City. <br /> <br />30. In addition to specific obligations otherwise noted in this Agreement, each of the following <br />obligations shall continue after the effective date of termination: (a) City's obligation to deposit all <br />Transaction Drafts and Credit Vouchers within the time periods specified in this Agreement for Bank <br />Card Transactions made prior to the Effective date of termination; (b) City's obligation with respect to <br />Transaction Drafts and Credit Vouchers accepted by PRI as set forth in this Agreement prior to the <br />effective date of termination; (c) City's obligation not to use any promotional materials, trademarks, <br />service marks, and logotypes associated with Bank Cards after the effective date oftermination of this <br />Agreement; (d) City's obligation to return all unused promotional materials as set forth in this <br />Agreement; (e) City's obligation to make City's books and records pertaining to Bank Card <br />Transactions available for inspection for at least three years from the date of the Bank Card <br />Transaction; (f) City's obligation not to disclose information pertaining to a Cardholder's account; and <br />(g) City's obligation to fulfill completely all of City's obligations to Cardholders. <br /> <br />PRI OBLIGATIONS <br />I. Discount Rate. The amount of the Discount Rate applicable to each Transaction Draft, and any <br />adjustments to the Discount Rate, shall be determined by PRI in its sole discretion. Without limiting the <br />generality of the preceding sentence, the otherwise applicable Discount Rate will be increased by 1.5 <br />percentage points with respect to (i) Transactions in which an Authorization was not obtained, (ii) <br />except as otherwise required by these Additional Terms and Conditions with respect to specific <br />Transaction Drafts (such as "delayed deposit" or "balance" transactions), deposits or batch <br />transmissions two (20 or more days after the date ofthe included Transactions or Credit Transactions, <br />(iii) transactions including Bank Cards issued outside the United States, (iv) Sales Transactions in <br />which use of an address verification service was required by the Additional Terms and Conditions but <br />City failed to use such service, (v) any Keyed Bank Card Transaction (except for City's approved by <br />PRIor Agent Bank as a keyed City), and (vi) any Bank Card Transaction involving a corporate card or <br />corporate purchase card. City shall deposit a copy of each Transaction Draft with PRI not later than the <br />bank business day following the date ofthe Transaction, except: <br />(a) In those cases when goods are shipped or services performed after the expiration ofthe <br />otherwise applicable one bank day period, the deposit shall not be made sooner than the shipment or <br />performance, and shall be made immediately thereafter; <br />(b) In those cases in which the Cardholder has agreed in writing to a delayed presentment, and City <br />request and receive an Authorization for delayed presentment, deposit shall be made within the period <br />permitted for delayed presentment; or <br /> <br />13 <br />
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