Res 2006-035 - Laserfiche WebLink

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I 6. Guarantee with Conversion You understand and agree that the Guarantee with Conversion Service both (a) verifies or approves and (b) guarantees payment to you within the limitations of this Section 6. When you follow all of the requirements for processing a Guarantee with Conversion Transaction, you will receive the funds through an electronic fund transfer without recourse to you, except for Reversed POS Transactions based on a Limited Claim. The requirements for processing a Guarantee with Conversion Transaction are the requirements listed in this Agreement, plus the requirements prompted by the POS Terminal during the Transaction processing. In the event the Check is drawn on a Non-participating Bank, the guarantee is subject to any additional limitations set by the applicable third-party guarantor company. 7. Declined Transactions 7.1 POS Transactions for which you receive a decline to authorize or do not receive an Authorization must not be processed further electronically pursuant to the Electronic Check Service. 7.2 You may accept or decline to accept a paper check or any other payment instrument offered by the Consumer, in accordance with your usual policies and at your own risk. I 7.3 You must provide Consumer a Decline Disclaimer for each instance in which a Check is declined or does not receive Authorization from the Electronic Check Service. Any Decline Disclaimer printed by the POS Terminal and delivered to the Consumer is acceptable. 8. POS Transactions for Return of Goods or Services 8.1 You may process a void of a POS Transaction only at the particular POS Terminal that issued the void and only within 10 minutes of the POS Transaction being voided. In the event that more than 10 minutes have elapsed, you must follow your usual policy regarding return of goods or services paid by Check. 8.2 You may not use the Electronic Check Service or the POS Tenninal to process payment to the Consumer for returned goods or services. 8 I