BANCORP BANK (THE); PHOENIX PAYMENT SYSTEMS, INC. DBA ELECTRONIC PAYMENT EXCHANGE (EPX)

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2.2. Merchant Account Chanties. Merchant shall provide the information required by the Merchant Profile Setup Form provided to Merchant by EPX and shall promptly notify EPX of any changes in this information. 2.3. Merchant Operating Account. Prior to accepting any Cards, Merchant shall establish an Operating Account. Merchant authorizes Bank or EPX to debit all amounts Merchant owes Bank or EPX herein from the Operating Account, whether maintained at Bank or another financial institution, at times deemed appropriate by Bank or EPX through the ACH Banking Network or by a manual debit of the account. Merchant waives any claims for loss or damage arising out of any charges or debits to the Operating Account against Bank or any other financial institution where the Operating Account is maintained. 2.4. Reserve Account. Upon execution of this Agreement, Bank or EPX may establish a Reserve Account for all future liabilities of Merchant to Bank or EPX which may arise out of this Agreement, including, but not limited to, Chargebacks, fines and fees. Bank or EPX shall inform Merchant of the initial amount required for the Reserve Account at ttte commencement of this Agreement. The Bank or EPX may change the amount of the Reserve Account as reasonably necessary and Merchant shall be in?rnediately notified of such change. The Reserve Account may be funded by deduction from payments due Merchant or a charge against Merchant's Operating Account or against any of Merchant's accounts at Bank. The Reserve Account will be maintained for a minimum of six (6) months from the termination date of this Agreement or until such time as Bank or EPX determines that the release of the funds to Merchant is prudent, commercially reasonable and Merchant's account with Bank and EPX is fully resolved. Upon expiration of this six (6) month period, any balance remaining in the Reserve Account will be paid to Merchant. Bank or EPX will inform Merchant in writing of any charges debited to the Reserve Account during this period. 2.5. Adjustments and Returns. Merchant will maintain a fair exchange and return policy and make adjustments with respect to goods and services sold and/or leased to its customers whenever appropriate. If goods are returned, or services are terminated or canceled, or any price is adjusted, Merchant will prepare and transmit a credit or return Transaction, either electronically or by paper, for the amount of the adjustment as a deduction from the total amount of Transactions transmitted that day. If the amount of credit or return Transactions exceeds the amount of sales Transactions, EPX shall fund the excess via Merchant's Reserve Account and/or Operating Account. Merchant shall make no cash refunds on Transactions and shall handle all credit adjustments as provided in this paragraph. If no refund or return will be given, Cardholder must be advised in writing that the sale is a "final sale" and "no returns" are permitted at the time of the Transaction. Cardholder also must be advised in writing of any no-cash refund policy, in store credit only. Merchant shall follow Association reservation/no-show policy. Merchant must notify Cardholders in writing of this policy on all advance reservations. The Cardholder must be notified at the time of the reservation of the exact number of days required for reservation deposit refunds. 2.6. Customer Complaints. Merchant shall respond promptly to inquiries from Cardholders and shall resolve any disputes amicably. Bank and EPX reserve the right to charge Merchant reasonable fees and reimbursement on account of excessive Cardholder inquiries, refunds or Chargebacks. Merchant agrees to maintain the following information in writing with respect to each claim or defense asserted by a Cardholder for which Merchant has received notice: i. The Cardholder's name; ii. A unique confirmation number (transaction sequence number, or other identifier) that the Merchant can use to reference the transaction in subsequent cornrnunications with the Bank or EPX; iii. The date and time the Cardholder asserted the claim or defense; iv. The nature of the claim or defense; and v. The action which Merchant took in an attempt to resolve the dispute. Initials Page 3 of ] 9