Legal Payment Acceptance Agreement

LEGAL PAYMENT ACCEPTANCE AGREEMENT

This Legal Payment Acceptance Agreement (the "Agreement") is entered into as of Day Month Year by and between Merchant Name: with principal address (hereafter "Merchant"), and Payment Processor Name: with principal address .

RECITALS

WHEREAS, Merchant engages in the sale of goods and/or services and desires to accept customer payments by electronic and other methods; and

WHEREAS, Processor provides payment acceptance, processing, settlement and related services and possesses the technical, financial and compliance capabilities to enable Merchant to accept payments; and

WHEREAS, the parties desire to set forth the terms under which Processor will accept and process payments on behalf of Merchant.

NOW, THEREFORE

In consideration of the mutual covenants and promises contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. DEFINITIONS

For purposes of this Agreement: "Chargeback" means a dispute initiated by a cardholder or card issuer seeking reversal of a processed transaction; "Settlement" means the transfer of funds to Merchant's designated account less applicable Fees; "Fees" means the processing fees described in Section 4.

2. ACCEPTANCE OF PAYMENT METHODS

Processor will enable Merchant to accept the following payment methods (select all applicable):

Credit Card Debit Card ACH / Bank Transfer Digital Wallet Check

Other methods (specify):

3. PROCESSING SERVICES

Processor shall provide transaction authorization, clearing and settlement services, perform settlement to Merchant's designated bank account, and provide access to transaction reporting. Processor's obligations include reasonable efforts to maintain system availability but do not guarantee uninterrupted processing where disruptions arise from third-party networks, card associations, or force majeure events.

4. FEES, SETTLEMENT AND HOLDBACKS

Merchant agrees to pay Processor the following fees for accepted transactions:

Settlement to Merchant's account shall occur within after transaction capture, subject to setoffs, reserves and holdbacks described herein and in Processor's underwriting policies.

Processor may maintain a reserve or holdback against Merchant funds where reasonably necessary to cover expected liabilities including Chargebacks, refunds, fines or regulatory obligations. Any such reserve will be disclosed to Merchant in writing and shall be subject to periodic review.

5. CHARGEBACKS, REFUNDS AND REPRESENTATIONS

Merchant is responsible for the accuracy of transaction information, fulfillment of goods and services, and resolution of customer disputes. Merchant shall comply with card network rules and applicable law regarding refunds and Chargeback responses. Processor may debit Merchant for Chargebacks, refunds, associated fees, and any unrecovered amounts.

6. DATA SECURITY AND COMPLIANCE

Merchant shall maintain compliance with applicable data security standards, including relevant card network requirements. Merchant must not store full cardholder data in violation of such standards. Processor shall implement commercially reasonable security measures for payment data and shall notify Merchant of any material security incident affecting Merchant data.

7. INDEMNIFICATION

Merchant shall indemnify, defend and hold Processor harmless from and against any and all claims, liabilities, losses, damages, costs and expenses (including reasonable attorneys' fees) arising out of Merchant's breach of this Agreement, misrepresentations to customers, fraud, violation of law, or failure to perform obligations related to goods or services.

8. TERM AND TERMINATION

This Agreement shall commence on the Effective Date and continue for an initial term of unless earlier terminated in accordance with this Section. Either party may terminate for convenience upon days' prior written notice. Processor may suspend or terminate services immediately upon notice where Merchant poses material risk of fraud, excessive Chargebacks, or regulatory noncompliance.

9. NOTICES

10. AMENDMENTS; WAIVER; COUNTERPARTS

Any amendment or modification of this Agreement must be in writing and signed by authorized representatives of both parties. No failure or delay by either party in exercising any right shall constitute a waiver. This Agreement may be executed in counterparts, each of which shall be deemed an original.

11. GOVERNING LAW; ENTIRE AGREEMENT; SEVERABILITY

This Agreement shall be governed by and construed in accordance with the laws of the state of , without regard to its conflicts of law rules. This Agreement constitutes the entire agreement between the parties with respect to its subject matter and supersedes all prior agreements. If any provision is held invalid or unenforceable, the remainder of this Agreement shall remain in full force and effect.

12. MISCELLANEOUS PROVISIONS

Merchant authorizes Processor to obtain such information as Processor reasonably requires to perform services, including banking and credit information. Merchant shall provide accurate business and ownership information and promptly notify Processor of any material change.

The parties acknowledge that electronic signatures shall be acceptable and binding for all purposes under this Agreement, subject to applicable law.

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