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25C - AGMT - MERCHANT PAYMENT SRVS
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25C - AGMT - MERCHANT PAYMENT SRVS
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Last modified
1/2/2014 1:53:01 PM
Creation date
1/2/2014 1:05:08 PM
Metadata
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
25C
Date
1/7/2014
Destruction Year
2019
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Merchant <br />March; <br />Conti <br />Rate Review Agreement <br />Date of Request: 1 2/28/2013 <br />Performed By: 1 Peter Lucatucrto I <br />Current Rates & Fees <br />Discount Rate: <br />1.50% <br />Per Item Fee: <br />$0.00 <br />TransLink Monthly Fee: <br />$0.00 <br />$100,000 Breach Covera e: <br />$0.00 <br />Monthly Statement Fee: <br />$5.00 <br />Annual Fee: <br />$0.00 <br />V -M /C -Disc Auth Fee <br />$0.25 <br />Voice Auth <br />$0.45 <br />Retrieval Request <br />$4.50 <br />Char eback Fee <br />$15.00 <br />Monthly Service Fee <br />$15.00 <br />Pin Debit Trans Fee <br />$0.25 <br />Amex Auth Fee <br />$0.25 <br />Date Proposed: 2/28/2013 <br />Date Accepted: <br />Proposed Rates <br />and Fees: <br />Discount Rate: <br />0.00 <br />Per Item Fee: <br />$0.00 <br />TransLink Monthly Fee: <br />$0.00 <br />$100,000 Breach Coverage: <br />$0.00 <br />Monthly Statement Fee: <br />$0.00 <br />Annual Fee: <br />$0.00 <br />V -M/C -Disc Auth Fee <br />$0.25 <br />Voice Auth <br />$0.45 <br />Retrieval Request <br />$4.50 <br />Char eback Fee <br />$15.00 <br />Monthly Service Fee <br />$15.00 <br />Pin Debit Trans Fee <br />$0.25 <br />Amex Auth Fee <br />$0.25 <br />Proposed rates are valid for 30 days. Rates are subject to change based on Visa/MasterCard /Discover Interchange increase(s). In <br />consideration of TransFirst's agreement to lower Merchant's rates as described above, Merchant agrees that: (A) the Initial Term of <br />Merchant's Merchant Processing Agreement will continue until the First (1st) anniversary of the date Merchant executes this form and will <br />automatically renew for successive one (1) year periods (each a "Renewal Term "), unless a party to the Merchant Processing Agreement <br />provides the other parties with notice of its intent not to renew this Agreement at least Thirty (30) days prior to the expiration of the then <br />current term; <br />and (B) termination of the Merchant Processing Agreement prior to expiration of the Initial Term or any Renewal Term shall result in the <br />assessment of an account termination fee against Merchant in an amount equal to the greater of (i) the average monthly processing fees <br />charged to Merchant for the previous 12 months (or such shorter time if the merchant has processed for less than 12 months) multiplied <br />by the number of months remaining under the Merchant Processing Agreement, or (ii) $500. Merchant acknowledges and agrees that the <br />damages above are riot a penalty, but rather a reasonable computation of the financial harm caused by the early termination of the <br />Merchant Processing Agreement by the Merchant. Any modifications or alterations, handwritten or otherwise, to this document deems <br />proposed rate quote null and void. <br />Printed Name of Authorized <br />Signer: Signature: <br />Date: <br />25C -10 <br />
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