2011-10-26 CC Packet - Laserfiche WebLink

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Section 1.3. Upon receipt by the Bank of a Request in respect of an employee, the Bank will issue a Card on the Member Account to the employee, embossed with the name of the employee (the "Cardholder ") and the Member's name and/or identifier. The Bank may issue renewal, replacement or temporary replacement cards for any Card from time to time. In addition, at the Member's request, the Bank may issue each Cardholder a personal identification number (a "PIN ") enabling the Cardholder to use the Card at automated teller machines ("ATMs") accessible with the Card to obtain cash advances and effect transactions on the Member Account. The Member shall instruct each Cardholder not to disclose the Cardholder's PIN to any other person. Transaction records issued by an ATM are solely for the Member's convenience and in the event of any dispute as to the accuracy of such records, the Bank's internal records are presumptively correct and Member must establish by clear and convincing evidence that such records are in error. Section 1.4. The Member shall establish and set out in each Request a credit limit for the Card (the "Card Limit") to be issued to the employee designated in the Request, subject to limitations which may be set by the Bank. A portion of this Card Limit is available for Cash Advances. The aggregate of all Card Limits for issued Cards shall not exceed the Member Credit Limit. SECTION 2. CHARGES AND FEES. Section 2.1. Subject to the provisions hereof, the Cardholder may use the Card to charge to the Member Account (a) the price of goods or services obtained from a merchant or supplier honoring the Card, by means of payment or settlement by the Bank to the merchant or supplier (a "Purchase'); or (b) cash advances obtained through the use of the Card either directly from the Bank, through use of an ATM, or through another financial institutions honoring the Card; or purchase a money order, travelers check or similar item (a "Cash Advance"); provided, each such Purchase and Cash Advance must be for a business purpose. Any such use of a Card which results in a Charge (as defined below) to the Member Account, whether or not the Card was presented to a merchant or supplier (such as Internet, mail or telephone order Purchases) or the Cardholder's signature was obtained, or by use of a PIN, is herein called a "Transaction." Section 2.2. The Bank will maintain a sub - account of the Member Account for each Card (a "Card Account"). The Bank shall record all Transactions with respect to each Card, as well as all interest, fees, service charges, credits and adjustments relating to such Card or its use on the Card Account maintained for such Card. All Transactions, interest, fees and service charges posted to the Member Account, including by recording them on individual Card Accounts, shall constitute a charge to the Member Account (a "Charge'). Section 2.3. The annual Card fee for each Card and the service charges set forth in Schedule 1 shall apply . For each Cash Advance, the Bank adds an additional service charge as set forth in Schedule 1. This fee will be added to the Cash Advance balance. The amount of the Cash Advance also may include a surcharge that the ATM owner imposes. -2- 36