Agreement Editor

Edit the merchant processing agreement template and manage variable placeholders

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MERCHANT PROCESSING AGREEMENT

Date: {{date}}

This Merchant Processing Agreement ("Agreement") is entered into between AutonBoard Payment Solutions Ltd ("Company") and {{company_name}} ("Merchant").

1. SERVICES

The Company agrees to provide payment processing services to the Merchant in accordance with the terms and conditions set forth in this Agreement. Services include the processing, authorization, and settlement of electronic payment transactions initiated by the Merchant's customers.

2. MERCHANT OBLIGATIONS

2.1 The Merchant, {{merchant_name}}, agrees to comply with all applicable laws, regulations, and card scheme rules in connection with the use of the payment processing services.

2.2 The Merchant shall maintain appropriate security measures to protect cardholder data in accordance with PCI DSS standards.

2.3 The Merchant shall promptly notify the Company of any changes to its business operations, ownership structure, or processing volumes that may affect this Agreement.

3. FEES AND SETTLEMENT

3.1 Settlement for approved transactions shall be made to the Merchant's designated bank account (Account: {{account_number}}) within 2–5 business days, subject to reserve requirements.

3.2 The Merchant agrees to pay processing fees as set out in the accompanying Fee Schedule, which forms part of this Agreement.

3.3 The Company reserves the right to hold a rolling reserve of up to 10% of monthly processing volume for a period of 180 days as security against chargebacks and fraud.

4. PROHIBITED ACTIVITIES

The Merchant shall not use the payment processing services for any transaction involving: (a) illegal goods or services; (b) sanctioned countries or individuals; (c) activities that violate card scheme rules or applicable law.

5. REPRESENTATIONS AND WARRANTIES

The Merchant represents and warrants that: (a) it is duly organized and validly existing under the laws of its jurisdiction; (b) it has full power and authority to enter into this Agreement; (c) the execution and performance of this Agreement does not violate any applicable law or agreement.

6. TERMINATION

Either party may terminate this Agreement upon 30 days' written notice. The Company may terminate immediately upon material breach of this Agreement by the Merchant.

7. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of England and Wales. Any disputes arising hereunder shall be subject to the exclusive jurisdiction of the English courts.

8. ENTIRE AGREEMENT

This Agreement, together with any schedules and addenda, constitutes the entire agreement between the parties with respect to its subject matter and supersedes all prior agreements and understandings.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

AutonBoard Payment Solutions Ltd          {{company_name}}

Authorized Signature: _______________    Authorized Signature: _______________

Name: ___________________________        Name: ___________________________

Title: __________________________        Title: __________________________

Date: {{date}}                           Date: {{date}}

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