Paymentsense Bolt-On Agreement
This Bolt-On agreement (“Agreement”) applies to Bolt-Ons as defined in the Merchant Services Agreement (“the MSA”) and is in addition to the terms of the MSA which also apply to Bolt-Ons save where varied by these terms.
Terms defined in the MSA shall have the same meaning in these terms.
- Paymentsense may amend or withdraw all or any of the Bolt-Ons by giving, wherever reasonably practicable, not less than 4 weeks prior notice. If 4 weeks notice is not reasonably practicable, Paymentsense shall give such notice (if any) as is reasonably practicable in the circumstances.
- If withdrawal results in an overpayment having been made for a service that will no longer be provided, Paymentsense shall promptly refund the overpayment.
- Paymentsense may also change the price for a Bolt-On by not less than 4 weeks’ prior notice.
- Within 4 weeks of notice from Paymentsense that a Bolt-On is to be amended in a way that is materially adverse or that the price is to be increased by more than the Retail Price Index (or any replacement of it) the Merchant may by written notice to Paymentsense, terminate taking that particular Bolt-On and any overpayment (including any increase) shall be promptly refunded by Paymentsense.
- Paymentsense may alter these terms from time to time. It has no obligation to notify the Merchant of such changes so the Merchant should regularly check these terms.
- If Paymentsense were to directly supply to the Merchant a terminal type, model, and quantity for the monthly lease indicated on the Merchant Service Agreement (hereinafter, “Leased Terminal”), each such Leased Terminal will remain the property of Paymentsense and the Merchant will be charged the monthly lease by Paymentsense. The end of the life of each Leased Terminal shall be determined by the expiry of its PCI compliance. If Merchant cancels this agreement during the life of the Leased Terminal, Merchant shall immediately pay Paymentsense a cancellation fee of £250 for each Leased Terminal and return all Leased Terminals provided to it under this agreement within 28 days. If Merchant fails to return all Leased Terminals to Paymentsense within 28 days of cancelling this agreement, Merchant shall pay an additional £450 to Paymentsense in respect of each Leased Terminal that Merchant fails to return to Paymentsense.