3.01 Acceptance. The bank and the SPS accept by the merchant all valid sales projects deposited by the merchant and submit them to the corresponding card issuers for collection on the cardholder`s accounts. All submissions and rankings of proposed sales, collection and reassignment or rejection of such proposed sales are subject to the provisions of this Agreement and The Rules. The Bank has only temporarily credited the value of the proposed sales collected and reserves the right to adjust the amounts recovered based on the value of the refunds, fees, penalties, late deposit fees and items for which the bank has not received a final payment. The funds are executed in U.S. dollars. The bank and the SPS may refuse to accept a proposed sale or revoke its prior acceptance of a proposed sale in the following circumstances: (a) the transaction that gave rise to the proposed sale was not carried out in accordance with all the terms of this agreement; (b) the cardholder challenges his liability to the bank for any reason, including, but not limited to, the recovery rights covered by the rules; or (c) the transaction that led to the proposed sale was not directly concluded between the distributor and the cardholder. The bank will be revoked payments due to Merchant, all amounts previously credited by Merchant for a proposed sale that was not accepted by the bank and SPS or subsequently revoked. The merchant will periodically and promptly check all bank statements, bank statements and other communications sent to Merchant and will immediately notify the SPS if there is a discrepancy between the distributor`s registrations and those of SPS, the merchant`s bank or any transfer that the merchant believes has not been authorized by the merchant or cardholder. If, within 14 calendar days following the date of the date, Merchant SPS does not notify in writing, by sending an email or by submitting an account statement or other activity report to Merchant, Merchant is solely responsible for any loss or other cost related to a defective or unauthorized transfer. The above does not limit the distributor`s liability in the event of a breach of this agreement. 3.02 Approval.
The presentation of the sales plans for collection and payment is the distributor`s agreement, its right to sell and transfer its title and any participation in each proposed sale completed in accordance with the acceptance procedures of the bank and the SPS, and constitutes the distributor`s approval of these proposed sales. Merchants authorize the bank to pass on such approval on behalf of the distributor. Dealers agree that this agreement is a financial accommodation contract within the meaning of the Bankruptcy Act, 11 U.S.C. P. 365, as amended from time to time. Merchant acknowledges that its commitment to the bank and SPS for all amounts liability under this agreement results from the same transaction as the bank`s commitment to deposit funds into the account. 3.03 Method of transmission. If Merchant uses electronic data authorization and/or acquisition services, Merchant will enter data related to a sales or credit transaction in a computer terminal or tape reading terminal no later than the closing of the transaction, on the closing date of the transaction.