REFUND & CANCELLATION POLICY
The date of your contract with SPG will begin on the effective date when accepted by us and shall remain in effect until terminated as per the term and conditions set forth on the SPG Sub-Merchant Agreement.
Sub-Merchants may terminate their SPG Sub-Merchant Agreement at any time on the giving of written notice to SPG and SPG will terminate the Agreement immediately upon receipt and will no longer offer processing services to the Sub-Merchant..
Sub-merchant will honor any Cardholder cancellation, and if this agreement is terminated for any reason, you will, at your own cost, advise all Cardholders to whom you submit recurring billing charges that you no longer accept the Card for amounts owed.
TRANSACTION REFUND AND RETURN POLICY
Sub-merchants will properly disclose to the Cardholder, at the time of the Card transaction, your name, return policy, and other limitations you may have on accepting returned merchandise. Your refund polices for purchases made with a Card must be at least as favorable as your refund policy for purchases made with any other form of payment. Our name will appear in conjunction with your descriptor on Cardholders’ statements. You will not accept any payments from a Cardholder relating to previous charges for merchandise or services, and if you receive such payments, you will promptly remit them to us.
Merchant MUST proactively deal with any refund/dispute requests within 24 hours. Refund fees are outlined on SCHEDULE 1 – FEES AND CHARGES of the SPG Merchant Agreement.
You will not submit a credit relating to any Card transaction not originally submitted to us, nor will you submit a credit that exceeds the amount of the original Card transaction. A violation of this provision is cause for immediate termination.