Card specific provisions

1.1

You may only process a refund to a Transaction

through a Card Payment Method directly through your Safepay Dashboard within sixty (60) calendar days of that Transaction. After sixty (60) calendar days of a Transaction you are unable to refund a Customer through your Safepay Dashboard. To be able to refund a Customer after sixty (60) calendar days of that Transaction but before one hundred and twenty (120) calendar days of that Transaction, Safepay will need to make a "stand-alone credit" which will require information about the Customer to be refunded such as bank, account number, routing number which you will be responsible for providing. You are fully responsible to refund a Customer after one hundred and twenty (120) calendar days of a Transaction and we accept no responsibility for assisting you with this.

1.2

You agree that for Safepay to process a refund in relation to a successful Transaction

through a Card Payment Method on your behalf:

1.2.1

If the refund is handled directly through your Safepay Dashboard

within sixty (60) calendar days of that Transaction, we will apply Available Net Funds associated with your Safepay Account against the refunded amount. If the Available Net Funds associated with your Safepay Account are less than the amount of the refund(s), we will reduce any subsequent payout of Available Net Funds to your Linked Bank Account by the amount linked to such refund(s) that would normally be credited for Transactions that take place following such refund(s). You may also be required to credit funds to a Safepay bank account after processing of any refund(s) if there were insufficient Available Net Funds in your Safepay Account to process the refund(s).

1.2.2

If the refund is handled by Safepay after sixty (60) calendar days of that Transaction

but before one hundred and twenty (120) calendar days of that Transaction (a “stand-alone credit”), we will apply Available Net Funds associated with your Safepay Account against the refunded amount. If the Available Net Funds associated with your Safepay Account are less than the amount of the refund(s), we will reduce any subsequent payout of Available Net Funds to your Linked Bank Account by the amount linked to such refund(s) that would normally be credited for Transactions that take place following such refund(s) by us. You may also be required to credit funds to a Safepay bank account after processing of any refund(s) if there were insufficient Available Net Funds in your Safepay Account to process the refund(s).

2.1

Where we owe you money as a result of any error(s), we will use best efforts to credit your Linked Bank Account

with Available Net Funds linked to such error(s) together with any Available Net Funds that would normally be credited to your Linked Bank Account for Transactions that take place on the next Business Day (or as agreed differently between you and us) after identification of such error(s). An example of this is where we have settled less Available Net Funds to you in relation to Transactions that you have processed using the Safepay Services on a particular day.

2.2

Where you owe us money as a result of any error(s), we will reduce any payout of Available Net Funds

to your Linked Bank Account by the amount linked to such error(s) that would normally be credited for Transactions that take place on the next Business Day after identification of such error(s). An example of this is where we have settled a greater amount of Available Net Funds to you in relation to Transactions that you have processed using the Safepay Services on a particular day.

2.3

We may also require that you return any money owed to us by a bank transfer to any account specified by us. You agree that any amounts owed by you to us will be considered a debt that you owe us. This debt is payable on demand to us and we will be entitled to set-off any amounts owed to us against future Funds

attributable to your Safepay Account or any other Safepay Account you have open with us.

3.1

Available Net Funds

will be held in the Safepay Settlement Account.

3.2

The Safepay Settlement Account

is a pooled account where we accept, collect, administer and handle funds from other merchants that use the Safepay Services.

3.3

All Funds

in the Safepay Settlement Account will be made available in Pakistani Rupees.

3.4

While the Available Net Funds

are within the Safepay Settlement Account, you agree that you are not entitled to access, and have no ownership or other rights in, the Available Net Funds prior to these being credited to your Linked Bank Account.

3.5

We can administer the Funds

as we consider reasonable for the purpose of providing and performing the Safepay Services (for example, if we have to move the Safepay Settlement Account to another Acquiring Bank) provided that we provide you 10 Business Days’ notice in writing before performing any such action.

3.6

You agree that by Safepay accepting the Available Net Funds

in the Safepay Settlement Account as your agent from any Acquiring Bank and/or any Network on your behalf in the Safepay Settlement Account, any obligation to settle the Funds has been satisfied.

3.7

You have no right to direct any Acquiring Bank

to distribute any Available Net Funds, and may not grant or assign any interest in the Available Net Funds held at any Acquiring Bank to any third party until such time as the payment processing proceeds are deposited into your Linked Bank Account.