:: POSA TECH ::

POSA Tech Inc.
Merchant Agreement

Services Application ONLINE PO: R( ) L ( ) Check one

MERCHANT INFORMATION

Merchant name

Bank Name

Address

Account Name

City

Account Type

Business checking

State

Routing #

Zip Code

Account #

Phone

Invoice to be Faxed or Emailed

Faxed
Emailed

Fax

Min Sales

No min fees

Contact Name

Min Sales Fee

No fees

Email Address

Futura Application Attached ?

Yes
No

This Agreement is made this _______day of _______________, 2008 by and between________________________ _________________________________(the “Merchant”) and POSA Tech Inc. The Merchant wishes to utilize POSA Tech Inc.’s terminal for their prepaid phone cards, prepaid wireless cards, and any additional prepaid services as available for sale at their designated location(s). A list of locations is attached to this Agreement and incorporated herein by reference.

1.	This debit will be initiated by Payspot. If the debit is refused by the Merchant’s bank for insufficient funds, the terminal will be locked until the debit is honored and a service fee of $10.00 will be assessed before terminal is reactivated. Any fees incurred by POSA Tech Inc. in order to collect unpaid debts, including but not limited to collection agency fees, attorney’s fees and court costs, will be added to the amount owed to POSA Tech Inc. by the Merchant. Interest on unpaid debts is calculated at 18% per annum.
2.	No Pin Stock Outages: Posa Tech Inc. will always have stock on all pins or we will pay the Merchant $10 each day we are out of supply. (Posa Tech Inc. is not responsible for carrier-or third-party-related issues such as bad PINs, etc, which necessitate the removal of PINs from the server.)
3.	ACH Accuracy: If a Merchant’s account is mistakenly debited for more than it should be, we will rebate $20 into Merchant’s account.
4.	Compensation and Terminal Ownership: POSA Tech Inc. will compensate the Merchant for prepaid revenue as per the attached Exhibit A. Merchant understands that POSA Tech owns the terminal provided and will return the terminal in the same working condition as when received by Merchant if agreement is cancelled. Merchant will be liable for the terminal cost if not returned when requested and or when agreement has been cancelled.
5.	Supplies: POSA Tech Inc. will pay for the terminal paper supply for the life of the agreement.
6.	Customer Service: Posa Tech Inc. will provide customer service and support seven days a week, 24/7/365.

For chain store accounts, if using the same bank account for all stores please attach a store list for each location and only one application is needed. If each store has a separate bank account, please complete an application for each location. Thank you.

Company Name

MERCHANT BANKING INFORMATION AND ACH AUTHORIZATION (MUST INCLUDE VOIDED CHECK) This ACH agreement is between PaySpot, Inc. (Company) and “Client” listed in this agreement and above. AIM/PAYSPOT is a DBA of PaySpot, Inc. and will appear on client bank statements. To accommodate electronic access for settlement, the undersigned (“Client’) does herby authorize and instruct Company to access Client’s designated depository account and to initiate credit and/or debit entries by bank wire, payment order or Automated Clearing House transfer and to authorize the banking institution (“Depository”) named below to block or to initiate, if necessary, reversing entries and adjustments for any original entries made to the depository account indicated below and to authorize Depository to provide such access and to credit and/or debit or to block the same account. This authorization is without respect to the source of any funds in the depository account, and this authority shall remain in full force and effect until Company has received written notification from Client of its termination in such manner as to afford Company and Depository a reasonable opportunity to act on it. In order to insure that transactions are properly handled, a specimen-voided check is attached. Your signature acknowledges that you are authorized to execute this agreement, are a signatory on the attached business check and have read and understand all information contained herein, the terms and conditions and any addenda, amendments, or attachments, all of which are incorporated into this agreement. Investigative Consumer Report: An investigative or Consumer Report may be made in connection with this application. Applicants authorize Company or any credit reporting agency employed by them to investigate the references given or any statements or data obtained from Client or any undersigned principle for the purpose of this agreement.

Bank Name
City Opened Account
Routing Number (9 digits)
Account Number

This Authority is to remain in full force and effect until Company has received written notification from Client, indicating a change and/or Termination of services.

BY:		Title

Signed		Date

Attach Voided Business Check Here.

If sending a starter check, we will need a letter from your bank stating the account name, account number and ABA information.
Thank you.

PLEASE FAX COMPLETED AGREEMENT TO
1-800-604-6808