Some people may mistakenly believe that these terms are separate agreements. Disclaimer: Termly Inc is not a lawyer or a law firm and does not engage in the practice of law or provide legal advice or legal representation. The whole amount owed on the invoice. We reserve the right to suspend your access to and use of the Payment Service and to terminate and close your Zettle Account and your PayPal Account if we determine that you are no longer eligible for access to and use of the Payment Service or if you fail to promptly comply with any requests from us in accordance with the above. In addition to what is set out in section 11 of the General Terms and Conditions, you acknowledge that we are required to report your business name and the name of your beneficial owners and/or principals to the MATCH listing maintained by MasterCard and accessed and updated by American Express, and the VMAS database upheld by Visa, if applicable, pursuant to the requirements of the Card Scheme Rules. All information, software, services, and comments provided on the site are for informational and self-help purposes only and are not intended to be a substitute for professional legal advice. How to Structure a Payment Terms Clause 4. When a payment transaction is made, we will update the transaction information in your Zettle Account confirming that the transaction has taken place and setting out the details of the transaction as further described in section 15. If you use straightforward language, customers are more likely to read thoroughly and understand your payment terms clearly. You can change your cookie settings at any time. Terms and Conditions. Subject to sections 16 and 17 of the General Terms and Conditions, we are liable to ensure that payment transactions initiated through the Payment Service are properly submitted to the end customers payment service provider, through the applicable Card Scheme, Acquirer, or other intermediary service providers, and that payment transactions carried out through the Payment Service are executed properly, provided that: a) the transaction has been authorised by the end customer, b) the transaction complies with these Payment Terms and Conditions, and c) you have complied with your obligations under these Payment Terms and Conditions. The payment process will be operated by our partners SaferPay or Datatrans. Create a free terms and conditions agreement (aka terms of use or terms of service) for your website or app to better protect your business. It outlines the rights and responsibilities of both parties. What do terms and conditions cover? Once the invoice is sent, how long does the customer have to pay the invoice? Letter of Credit (LOC) 3.4 4. Payment Methods ACH ACCS/PAD Affirm Afterpay / Clearpay Alipay Net 30 & Net 60 3.7 7. To use the Payment Service for sales from a physical sales location, you must download and install the App and, unless you are solely using the Tap on Phone Service, obtain one of our compatible card reader devices (Zettle Reader). Do you have an online shop or offer a service for a subscription cost? January 5, 2023 Generate a Free Terms & Conditions With 60% of companies moving all of their payments to the digital sphere, there are more ways than ever for customers to make payments and more ways than ever for customers to avoid payments. You undertake to: a) maintain a fair return, cancellation or adjustment policy, b) disclose your return or cancellation policy to customers at the time of purchase, c) not give cash refunds to a customer in connection with a Card transaction, unless required by law, and d) not accept cash or any other item of value for preparing a Card transaction refund. The Payment Service is a payment service exempt from VAT. Therefore, its important to state which ones you accept and which ones you dont. Those points could eventually convert to store credit, which means youll have more timely payments, and loyal customers will have more opportunities to shop with you. By defining the terms under which you expect customers to pay, you decrease the likelihood of: When it comes to your payment terms, there is a lot at stake. Funds from a payment transaction credited to your Zettle Account will not be paid out to your Designated Account until the transaction is deemed completed. Transparent payment conditions make it easier for clients to comprehend your invoicing process and ensure you get paid. Further, you may not issue more than 5,000 GBP in gift cards to any single person in any one day. Bereavement Support Payment is not means-tested. For example, you can implement penalties for prohibited activity, such as restricted access, suspension, or fees. To help us improve GOV.UK, wed like to know more about your visit today. Payouts to your Bank Account are executed, at least in part, by third party financial institutions. For example, if you're a freelancer or work under a format where you accept partial payments at different points, make this very clear. (R.C.S. We will only process Card transactions that have been authorised by the applicable Card Scheme or Card issuer, as the case may be. Smaller payments can be made quickly, but larger ones can take a while due to limited resources. Here's how you can use Termly's generator to create comprehensive and customized terms and conditions like the examples below: Step 1: Go to Termly's terms and conditions generator. Payment terms are the terms that govern the payment portion of a sale. Customer Information may include e-mail address, name, address, personal identification number (or equivalent), trade name, registration number, telephone number and information concerning the purchase. 50% Upfront 3.6 6. The government commitment is to pay 90% of undisputed and valid invoices from SMEs within 5 days and 100% of all undisputed and valid invoices to be paid within 30 days. 2. Dont worry we wont send you spam or share your email address with anyone. It can be used to create a section on your website where users must consent to your rules before using your service. But the suspension of service isnt the only possible penalty for late payments. The Order Form is the basis of the contract between you and the supplier. You expect the customer to make all their payments in cash, and you wont be offering any credit. In addition to what is stated in section 22 of the General Terms and Conditions, we may terminate these Payment Terms and Conditions or your use of all or part of the Payment Services or suspend or close your Zettle Account or PayPal Account, without prior notice to you: a) upon request of a Card Scheme, an Acquirer, or a service provider, b) if our agreement with an Acquirer or Card Scheme expires or terminates for any reason, c) if we are de-registered as a payment facilitator by a Card Scheme, an Acquirer, or a service provider, d) if in our reasonable opinion, your activities or actions are damaging to, or may damage, our image or reputation or the image or reputation of a Card Scheme, an Acquirer, or service provider, e) if you have signed up for the Payment Service as a company or other business entity and there is a change of control of such company or other business entity, f) if owners or other persons associated with you appear on European or American sanction lists (such as OFACs SDN list and the EUs list of economic sanctions or list of terrorists), or g) if your Designated Account is your PayPal Account and your PayPal Account is closed down, either by us or by you. Rolling Deposit (RD) 3.5 5. In order to help you create a cookie consent solution that is GDPR and Cookie Law compliant, we must first scan your website for cookies. Subject to your compliance with these Payment Terms and Conditions, we consider that your use of the Zettle Gift Card Service falls within the LNE, i.e. There is no difference, and each of these terms is often used interchangeably on many major websites. We may remove or add Cards that we accept at any time without prior notice to you. If the error results in your receipt of less than the amount to which you were entitled, we will credit your Zettle Account for the difference. Web sites and apps built with user-generated content are quickly becoming the norm. The different types of payment terms include: If payment transactions are a part of your website or app, you need payment terms because they provide three key benefits: When you dont have payment terms, default payment rules contained in applicable law will apply to the payment. However, they're the same thing. Payment terms provide the parameters for any online payments to your business. You authorise us to direct questions to and obtain information from the relevant bank, including for the purpose of verifying your designated Bank Account. Depending on the location of your customers, the payment transaction may be subject to mandatory legal requirements. Customers who are rewarded for good behavior are also likely to stay loyal. Your Terms and Conditions agreement's payment terms should include information that addresses when payments are due, what forms of payments you accept, any incentives or offers you have, and how you handle missed payments. Payment Basis (clause 9 of the General Terms):1 Basis A Basis B Basis C Basis D Other3 The Barrister's agreed hourly rate (clause 7.2 of the General Terms):4 Optional clauses:4 Limitation of liability arising solely under contract (clause 12.4 of the General Terms): Minimum insurance cover (clause 20.2 of the General Terms): The customer needs to know. Furthermore, we will not be responsible or liable for any funds that, due to incorrect or incomplete Bank Account information provided by you, have been paid to a bank account that is not held in your name. You must specify how you accept payments and how customers can pay you using those methods. Even if these dont completely fit your business model, they can serve as a good starting point. The purpose of writing a terms and conditions policy is to create a legal relationship between you and your customers where you provide services to them. The transaction information will also show all Fees incurred, any other amounts charged to your Zettle Account in the relevant period and information on payouts to your Designated Account. Though setting down firm payment terms may seem intimidating, it can boost relationships with your customers. A terms and conditions agreement is a set of rules between your business and your users. Some of the best practices when it comes to payment terms include using clear language, setting specific payment deadlines, making payment periods shorter, including late fees, offering flexible payment methods and giving incentives for paying early. If your business has an invoicing model, your payment terms should also include what to expect for invoicing. You should specifically tailor your payment terms to fit your company and the industry in which your business operates. We reserve the right to amend these Payment Terms and Conditions in accordance with section 23 of the General Terms and Conditions, or a shorter time if so required by the Card Schemes or a Third Party Payment Provider, as necessary to comply with the Card Scheme Rules or otherwise address changes in the Payment Service. We may charge a 6 late fee for each late instalment and for Orders over 24, we may charge a further 6 if the instalment is still unpaid 7 days later. If you're a business that sends out invoices, it's essential to understand that invoicing clients at different stages of the work can cause delays or cause projects to stop entirely. We reserve the right, upon notice to you, to charge a fee for mediating and/or investigating Chargeback disputes. If there has been no activity on your Zettle Account for at least two consecutive years and you have a balance on your Zettle Account, we will notify you on the email address registered by you and/or associated with the Zettle Account and give you the option to keep your Zettle Account active or to close your Zettle Account and request a withdrawal of any funds that we hold on your behalf. Thanks to. Make your payment expectations clear in your terms and conditions and reward customers who go above and beyond and youll have the best of both worlds. Everyones heard the horror stories of freelancers getting taken advantage of. Some companies will offer a warning, giving customers a grace period of a few days to make the payment. below, which you can customize to your companys unique needs. You will receive funds either to your PayPal Account or Bank Account (your Designated Account) depending on the group of Merchants you fall in as described in section 1 above: If you are a Fully Merged Merchant, funds from a payment transaction credited to your Zettle Account will be paid out to your PayPal Account per transaction. Youll be able to point to your express terms and the customers agreement with them, thus proving that you are not at fault. It is the information within the page that matters most, and not the title. Top freelance copywriter Laurence Blum includes payment terms that stipulate what portion of the payment is due in advance, as well as how the remaining balance is to be handled: If you operate under a recurring or subscription payment plan, whether billed monthly, quarterly, annual or some other schedule, note this in your Terms and Conditions agreement. Under the PSRs and EMRs, a person providing payment services or issuing electronic money without FCA authorisation or registration in reliance on the exclusion known as the limited network exclusion (LNE), must notify the FCA where the total value of the payment transactions executed through such services and/or made with the electronic money in any period of twelve months exceeds 1 000 000 euros (or its equivalent in foreign currency). and online invoice systems like Billdu, you can create professional and engaging invoices quickly and easily on any smart device. You can enforce these terms in different ways. Government departments are. Non-refundable fees. The Payment Service will enable you to accept and process payments from your customers (i) by Card or their smartphone, tablet or other compatible mobile device enabling them to take contactless smartphone/device transactions through the use of the App installed a) on your smartphone, tablet or other compatible mobile device connected to your Zettle Reader, b) on a compatible mobile device enabling you to take contactless payments directly in the App (the Tap on Phone Service), or c) directly on a Zettle Reader enabling you to take contactless payments, (ii) when your customers pay an invoice online using a Card or any other online payment method made available by us in your jurisdiction (the Invoicing Service), (iii) when your customers pay for your products and/or services through a payment link provided to your customer by email, text message or similar communication tool, and (iv) by redeeming gift cards issued by you using our gift card service (the Zettle Gift Card Service). Abbreviation for Cash in Advance, you expect the customer to pay their dues upfront before you start working on the project / deliver the products. If you want to set up a business that takes a sum of money from a customer every time they use a service, for example, online trading, you may need to be authorised by the Financial Conduct Authority. 1 The Evolution of Invoice Payment Terms 2 Most important payment terms and conditions for invoices 3 How different Invoice Payment Terms help your Business 3.1 1. We may add, delete and amend certain payment methods at any time and the Card Scheme Rules and the Specific Terms may also be amended from time to time in accordance with the relevant terms and conditions. You must submit all requests for refunds and adjustments for returns of your products or services through the Payment Service in accordance with these Payment Terms and Conditions and the applicable Card Scheme Rules. In order to receive funds from your Zettle Account, you must designate and, if we so request, verify a bank account held in your name in a bank in the United Kingdom (Bank Account). Furthermore, you can take legal action against people who violate your terms and conditions. Cash Before Shipment (CBS) & Cash Before Delivery (CBD) 3.3 3. When you open a business, you want to get paid and maintain good relationships with your customers. You agree that we will determine the extent of such guarantees or other security. Notice. However, knowing how to define those payment terms is another and often more complex art form. These subsections set out the authorisation(s) you will need to grant us to transfer funds credited from your Zettle Account to your Bank Account or PayPal Account (as the case may be). Understanding payment terms and including them in your Terms and Conditions agreement can help you safeguard your business financially and set the tone for a good customer relationship. Once we have obtained, collected and verified all your information, we will assess whether you are eligible to get access to and use the Payment Service. However, the invoice is due 30 days after the date it was issued. By using our website, you agree to our legal policies: Abbreviation for Month Following invoice, this means you expect the customer to pay their dues by the 15th of the month following the invoice issue date. Information about available Zettle Readers and how they can be purchased can be found on our Website. Instead, be as clear and straightforward as possible. These clauses are incorporated into and form an integral part of our contract. Karger guarantees that payment by credit card is secure by using standard-procedure SSL or SET and encrypted data. When the business relationship between the company and the customer ends, recurring payments are canceled. You confirm and agree that we may require you to allow us, or a third party designated by us, to conduct an audit of your business and facilities in order to ensure your compliance with these Payment Terms and Conditions and the Card Scheme Rules. Establish if and when property or ownership passes in the goods from seller to buyer. If we believe that a Chargeback is likely with respect to any payment transaction, we may withhold the amount of the potential Chargeback from payments due to you under these Payment Terms and Conditions until such time that: a) a Chargeback is assessed due to a customers complaint, in which case we will retain the funds, b) the period of time under applicable law or regulation by which the customer may dispute the transaction has expired, or c) we determine that a Chargeback on the transaction will not occur. It is your responsibility to inform your customer that you will use the App to send them a receipt via email or SMS before doing so. If we require a personal guarantee, bank guarantee or other form of security we will specifically inform you. Our Acquirers and the Card Schemes may from time to time impose certain limits on Merchants annual Card transaction volume through the use of the Payment Service. If a customer asks their credit or debit card issuer to reverse a transaction, they can reclaim the value of the transaction from you. The first thing customers will want to know is when payments are due once they see the price for a product or service. Being polite and using plain, easy-to-understand language is not only an excellent way to maintain positive relationships with your customers, but it can also help you get your company paid. All businesses have the option to set their own payment terms. For example, consumer laws across the world may restrict your freedom to set payment terms to some extent. transactions made using the contactless induction technology in a Zettle Reader or a compatible mobile device supporting contactless transactions made by Card or smartphone/device transaction using near field communication technology or QR codes), however you may not process a contactless transaction with a value exceeding the prevailing amount limit for that transaction set by an Acquirer, a Card Scheme and/or us from time to time, as set out on our Website. They all rely on users to create, or contribute, or share things with others. The Zettle Gift Card Service does not include the supply of physical cards or other value certificates. They set out accepted forms of electronic payment, payment dates, cancellation rules, and late payment penalties. If you do not respond to our notice within thirty days, we will automatically close your Zettle Account and any funds that we hold on your behalf will be handled in accordance with applicable law. You could offer them a discount or a rewards card or let them build up points with your store for early payments. You may access your transaction information by logging into your Zettle Account. Payment terms clauses can help mitigate the risk of non-payment, provide protection against chargebacks, or leverage your intellectual property rights by restricting access to content until after the customer has paid. You acknowledge and understand that the Gift Card Service only supports multi-purpose vouchers meaning that any VAT due is only payable when the voucher is redeemed for goods or services. If you are a Connected Merchant, funds from a payment transaction will be credited to your Zettle Account and then paid out to your PayPal Account daily. Your business can reduce the time it takes to get paid by clients. Your customer relationships will also be affected by your payment terms, and you may not get a penny if you place no time limit on when payment is due. All rights reserved. For more information, please visit our Website. By accepting these Payment Terms, you accept that, upon reaching these thresholds, the Commercial Entity Agreement(s) will automatically apply between you, us and the relevant Acquirer, respectively. We reserve the right to temporarily suspend and/or delay payouts to your Designated Account and/or restrict access to any funds credited to your Zettle Account where we need to conduct an investigation or resolve any pending dispute relating to your Zettle Account and/or as necessary to comply with the Card Scheme Rules, applicable law or court order or if otherwise requested by law enforcement or any governmental authority. . For instance, if a customer is late by 30 days on a payment, you might have to borrow money in order to pay your company's obligations. Such terms and conditions shall be regarded as non-binding on the Buyer. This forms the contract under which any goods and/or services referred to in the purchase order are to be provided by the supplier to the NHS organisation. You may not issue gift cards through the Zettle Gift Card Service valid longer than thirty-six (36) months from the date of issuance. 1. For any payment transaction we determine may result in a Chargeback, we have the right to withhold the potential amount of the Chargeback in a reserve. Through the Zettle Account settings, you may select the frequency of the payout of funds to your Designated Account. The Card Scheme Rules applicable to merchants and the Specific Terms relating to the payment methods you have signed up for will form part of your agreement with us. We are responsible for protecting the security of Card information in our possession. On the other hand, shorter pay periods can keep the cash flowing and customers on track. et Cie, S.C.A. The due date and the timeframe during which your client must pay the entire amount due. In this context, you authorise and instruct us to comply with collection, deductions and remittance requests received from the relevant lender or financing provider (or its respective account bank or other service provider) on your behalf. Any amount attributable to a payment transaction may be reversed or charged back to your Zettle Account (a "Chargeback") if the transaction: a) is disputed in any way, b) is reversed for any reason by the Card issuer, c) was not authorised or we have reason to believe that it was not authorised, and/or d) is alleged to be illegal, suspicious or in violation of these Payment Terms and Conditions. It will consist of a description of the goods or services, the price and any other terms specific to the transaction. 1. By accepting these Payment Terms and Conditions you agree that, if and to the extent that the provisions of any Services at any time is subject to any legislation in any jurisdiction implemented for purposes of transposing PSD2 (PSD Laws): the following provisions of PSD2, as transposed by any PSD Laws, shall not apply to these Payment Terms and Conditions or to the provision of the Services: (i) Articles 40 (Charges for information), 41 (Burden of proof on information requirements), 42 (Derogation from information requirements for low-value payment instruments and electronic money), 44 (Prior general information), 45 (Information and conditions), 46 (Information for the payer and payee after the initiation of a payment order), 47 (Information for payer's account servicing payment service provider in the event of a payment initiation service), 48 (Information for the payer after receipt of the payment order), 49 (Information for the payee after execution), 51 (Prior general information), 52 (Information and conditions), 53 (Accessibility of information and conditions of the framework contract), 54 (Changes in conditions of the framework contract), 55 (Termination), 56 (Information before execution of individual payment transactions), 57 (Information for the payer on individual payment transactions), 58 (Information for the payee on individual payment transactions), 59 (Currency and currency conversion), 60 (Information on additional charges or reductions), 62(1) (Charges applicable), 64(3) (Consent and withdrawal of consent), 71 (Notification and rectification of unauthorised or incorrectly executed payment transactions), 72 (Evidence on authentication and execution of payment transactions), 74 (Payer's liability for unauthorised payment transactions), 76 (Refunds for payment transactions initiated by or through a payee), 77 (Requests for refunds for payment transactions initiated by or through a payee), 80 (Irrevocability of a payment order), 89 (Payment service providers' liability for non-execution, defective or late execution of payment transactions); and 90 (Liability in the case of payment initiation services for non-execution, defective or late execution of payment transactions); and (ii) where transactions are neither euro nor pound sterling transactions, the requirements regarding execution and time-value dating set out in any PSD Laws transposition relating to Articles 83 to 85 of PSD2 will not apply to this Agreement or to the provision of such Services, to the extent permitted by applicable law.
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