Meaning Of Payment Agreement

The payment processing services offered by Braintree, which offer the merchant the ability to accept credit cards, debit cards and other payment methods on a customer website or mobile application. PayPal implement and maintain at least appropriate technical and organizational measures, as described in Appendix 1 of this addendum, to preserve the security of the customer`s data and protect it from unauthorized or illicit processing and accidental loss, destruction or damage related to the provision of payment settlement services. You understand and agree that technical and organizational measures are subject to technical progress and development. In this regard, PayPal is expressly entitled to take appropriate alternative measures as long as the level of security of measures relating to the provision of payment settlement services is maintained. In the event of an adverse change, PayPal provide you with a notification with the necessary documents by email or publication on a website that is easily accessible to you. 2.4. Braintree only processes customer data on behalf of the company and in accordance with the distributor`s written instructions. The parties agree that this addition is the distributor`s most complete and final written instruction for customer data. Additional instructions outside the scope of this addendum (if any) require prior written agreement between Braintree and Merchant, including the acceptance of any additional taxes payable by Von Merchant to Braintree for the execution of these additional instructions. The distributor ensures that its instructions comply with all applicable laws, including data protection laws, and that the processing of customer data, in accordance with the distributor`s instructions, does not result in a violation of Braintree`s data protection legislation. The distributor orders Braintree to process customer data for the following purposes: 3.3 Confidentiality. Braintree ensures that its client data processing staff is informed of the confidentiality of customer data, that it has received appropriate training on their responsibilities, and that it has entered into written confidentiality agreements. Braintree ensures that these confidentiality obligations survive the termination of staff engagement.

You ensure and guarantee that PayPal that any transactions you deal with with Braintree Payment Services will be paid exclusively to your customers for goods or services in good faith (including utilities). To the extent that transaction funds are received by PayPal of your clients, you herehey determine PayPal and PayPal agrees to serve as a limited agent to receive such payments from your clients on your behalf. You agree that upon receipt of payment, PayPal of a customer: a) you are deemed to have received payment from that customer; (b) the customer`s commitment to them in connection with this payment is fully respected; (c) any claims you have on such a payment against the Customer are extinguished and (d) You are required to provide the goods or services corresponding to the Customer, in any case, that PayPal Acquirer sends you this payment. Each reception provided to the customer is mandatory for you and meets all applicable regulatory requirements. This paragraph defines all of the obligations PayPal as your agent for receiving the payment and no other obligation is related to PayPal obligation to act in that capacity. This paragraph does not in any way limit the rights PayPal against you or the funds held by PayPal, including a right to reissue or guarantee on those funds.