Terms and Conditions - EMV/Chip Agreement

This Agreement sets out the terms under which you may use your new EMV/Chip point-of-sale terminal (the “EMV Equipment”).  It must be read in conjunction with the terms and conditions contained in your Equipment & Services Agreement, which can be found at http://www.collectivepos.com/terms-conditions (the “Terms & Conditions”).  Your use of the EMV Equipment to accept debit or credit cards means that you have received, read, understood and agreed with this EMV/Chip Agreement and the Terms & Conditions (“Acceptance”).

Property of Collective Point of Sale Solutions
Unless purchased outright, the EMV Equipment remains the property of Collective Point of Sale Solutions (Collective P.O.S.) at all times.

Term
This EMV/Chip Agreement will become effective on the date and time of Acceptance and will renew your original Equipment & Services Agreement for four (4) years (the “EMV Term”).  Thereafter, the Agreement will be automatically renewed for successive one (1) year terms (each, a “Successive EMV Term”) unless you notify Collective P.O.S. in writing of your intention not to renew this EMV/Chip Agreement at least three (3) months prior to the commencement of a Successive EMV Term.

EMV Equipment Payments
The monthly cost of your EMV Equipment (the “EMV Equipment Payment”) is as follows:

(i)    $24.99 for dial/IP
(ii)   $29.99 for wireless (short range or cellular)
(iii)  $14.99 for upgraded Ingenico i7910 terminals

The EMV Equipment Payment is over and above any payments you may be making on your current equipment, whether to a third party or to Collective P.O.S., and will be deducted from your Account.  From time to time, Collective P.O.S. may reduce or waive the EMV Equipment Payment.  Any such waiver or reduction will not affect our right to require that you make the appropriate EMV Equipment Payment at another time.