Remittances to WorldDirect Customers (March 2002)

Payments are made 4 weeks in arrears. Your first payment will be received in week 5 and will relate to your 1st week's income.

Payment notification emails are issued on Tuesdays.

Payments are made each Wednesday at 24:00 HRS GMT. Payments are subject to the following remittance terms:

6.1 Each week (or such other period as we may agree from time to time) WorldPay will calculate the amount of Remittance by calculating the amounts due in respect of Payment Transactions which are due following the Remittance Period and deducting the following:

• 6.1.1 the Service Charge due;
• 6.1.2 Refunds;
• 6.1.3 Chargebacks, and any Card Scheme fines passed on to WorldPay by Our Acquirer in respect of Your Transactions;
• 6.1.4 Disputed Transactions and any amounts reasonably required to cover potential or expected Refunds, Chargebacks or Disputed Transactions; and
• 6.1.5 any other charges or amounts due to WorldPay under your WorldPay Agreement, including any Relevant Tax.

6.2 WorldPay will remit to You by direct bank transfer to a bank account nominated by You and agreed by WorldPay and will deduct from the Remittance a charge to cover the bank charges for making the remittance.

6.3 If the Remittance is below the Minimum Remittance such Remittance shall be carried forward to the next Remittance date.

6.4 WorldPay may hold back from the Remittance any amounts reasonably required to cover potential or expected Refunds, Chargebacks, or Disputed Transactions and WorldPay may hold back the amount of any excess trading over the agreed trading limit.

6.5 In the event that the value of all items listed in 6.1.1 to 6.15 exceed the value of all Payment Transactions falling due for Remittance on the Remittance date, the resulting shortfall may be held over by WorldPay for deduction against the following Remittance when it shall be deducted from that Remittance together with any interest due. However, WorldPay reserve the right at any time to require payment (including by directly debiting your bank account) of all or part of such short fall in such currency as WorldPay determine.