Equipment Placement Program Addendum to Merchant Agreement
This Equipment Placement Program Addendum to Merchant Agreement (this “Addendum”) modifies the Merchant Payment Card Application/Agreement (the “Merchant Agreement”) by and among Company and the Merchant named below (“Merchant”). Capitalized terms used but not otherwise defined in this Addendum have the respective meanings as contained in the Merchant Agreement. The specific Bank referenced in the Merchant Agreement is not a party to this Addendum.
The Equipment shall be provided to Merchant at no charge; provided, however, that Merchant shall be responsible for paying applicable shipping and handling charges referenced below. Merchant shall be responsible for obtaining and paying for all incidental Equipment supplies, including but not limited to weight scale, bar code scanner, paper, ribbons, cartridges, necessary equipment repairs, etc. Merchant shall also be responsible to replace such Equipment at its own cost and, if from Company, at Company’s then prevailing rates, if the Equipment is deemed “end of life” by the manufacturer or any third party.
Merchant acknowledges that the Equipment may only be compatible with a merchant account provided by Company. The Equipment shall be used for commercial purposes only in conjunction with and pursuant to the Merchant Agreement. Merchant is responsible for safeguarding the Equipment from loss, damage, unauthorized use, misuse or theft. Merchant shall comply with all governmental laws, rules and regulations relating to the use of the Equipment, as well as all Card Organization Rules, including the Payment Card Industry Data Security Standards (PCI-DSS).
The Merchant agrees to be charged a one-time shipping and handling fee of $35 prior to Company shipping the Equipment to the Merchant. Merchant agrees that the Equipment is the property of Company. Merchant shall call Company at 800-554-4777 or email [email protected] to receive shipping instructions and return the Equipment pursuant to said shipping instructions by no later than ten (10) days following the termination or expiration of the Agreement. Should Merchant fail to return the Equipment as aforesaid, Merchant shall pay to Company the Replacement Amount referenced in Table 1 above (“Failure to Return Charge”). The handling fee and Failure to Return Charge, if applicable, shall be debited via ACH from Merchant’s bank account.
Merchant shall return such Equipment in the same operating order, repair, condition, and appearance that such Equipment had at the time it was delivered to Merchant, except for ordinary “wear and tear”.
No cross-outs, changes or modifications to this Addendum will be accepted or approved by Company unless confirmed in writing by Company. Except as expressly modified by this Addendum, the terms and provisions of the Merchant Agreement are hereby affirmed and ratified. Hereafter, all references to the Merchant Agreement shall mean the Merchant Agreement as modified by this Addendum.
Visa and Mastercard Member Bank: Citizens Bank, N.A., One Citizens Plaza, Providence, RI 02903 (888) 211-4057
Association Disclosure: Merchant Understands and Agrees to the Following Language Regarding Responsibilities: Member Bank Responsibilities: (1) A VISA member is the only entity approved to extended acceptance of VISA products directly to a merchant. (2) A VISA member must be a principal (signer) to the Merchant Agreement. (3) A VISA member is responsible for and must provide settlement funds to the merchant. (4) A VISA member is responsible for all funds held in reserve that are derived from settlement. (5) A VISA member is responsible for educating merchants on pertinent VISA International Operating Regulations with which merchants must comply. Merchant Responsibilities: (1) Ensure compliance with cardholder data security and storage requirements. (2) Maintain fraud and chargebacks below thresholds. (3) Review and understand the terms of the Merchant Agreement. (4) Comply with VISA International Operating Regulations. (You may download “Visa Regulations” from Visa’s website You may download “Mastercard Regulations” from Mastercard’s website). The responsibilities listed above do not supersede the terms of the Merchant Agreement (including the Terms and Conditions that are a part hereof) and are provided to ensure that the merchant understands some of the most important obligations of each party and that the VISA Member is the ultimate authority should the Merchant have any problems.
2. Merchant Payment Card Agreement Acceptance:
Each person signing below certifies that all information provided in this application is true, correct, and complete, and each person agrees to be bound by all provisions set forth in this document, including, but not limited to the Terms and Conditions, which is hereby incorporated by reference for all purposes (Terms and Conditions can be seen below ). Each person authorizes the Bank or any credit reporting agency employed by the Bank or any agent of the Bank, to make whatever inquiries the Bank deems appropriate to investigate, verify or research references, statements or data obtained from the Merchant for the purpose of this application. An additional copy of the Terms and Conditions will be sent to the business entity indicated above along with the welcome letter upon approval of such business entity to accept payment cards by Citizens Bank, N.A. Pursuant to Section 8.1 of the Terms and Conditions, the initial term is for a length of three (3) years and the Merchant Agreement will automatically renew for additional three (3) year periods, unless terminated by any party upon written notice at least thirty (30) days prior to the end of the then existing term. In the event MERCHANT terminates this Agreement prior to the maturity date of the initial term, MERCHANT SHALL be liable to SERVICE PROVIDERS for an early termination fee equal to (i) $350.00 per location if terminated before completion of the first year of the Term; or (ii) $250.00 per location if terminated after completion of the first year of the Term but prior to the end of the third year of the Term (“Early Termination Fee”). For detailed information related to the termination rights and obligations set forth in this Merchant Agreement, see Sections 2.14, 2.15, 2.17, 2.24, 2.27, 2.30, 2.34, 7.2, 7.3, Section 8 in its entirety 10.12 and 10.16, of the Terms and Conditions, which are a part of this Merchant Agreement.
