Merchant Services Agreement

A merchant services agreement is an agreement made between a company and a credit card processing service. Any company selling goods or services that accepts credit cards must sign a merchant services agreement with a credit card processing service company.

Purpose

This agreement establishes a relationship between a company and a credit card processing company. It stipulates the terms and conditions of the business arrangement.

Details

This type of agreement contains the name of the credit card processing company as well as the name of the business. The agreement explains what types of cards are accepted as well as the merchant company's obligation for paying the transactions. It explains the costs involved with the service and the conditions for use.

Terms

This agreement states the effective dates of the agreement. It explains how the process works, how long the duration period is before payments are made and how the payment schedule works.

References

• Find Law: Merchant Services Agreement -- eCharge Corp. and Nettaxi Online Communities Inc.
• Onecle: Merchant Services Agreement
• Business Dictionary: Merchant Services Provider