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Declaration of Annual Turnover of Upto INR 20,00,000 For MDR Waiver (As Per Mandate

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Amit Ganji

The merchant is declaring their annual turnover is below INR 20,00,000 to qualify for waiver of Merchant Discount Rate fees on debit card transactions up to INR 2000 as mandated by the Government of India. They agree to notify Pine Labs if their annual turnover exceeds INR 20,00,000. The merchant and authorized signatory agree to indemnify Pine Labs for any losses incurred due to improper information provided by the merchant.

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Declaration of Annual Turnover of Upto INR 20,00,000 For MDR Waiver (As Per Mandate

Uploaded by

Amit Ganji
60 views1 page
The merchant is declaring their annual turnover is below INR 20,00,000 to qualify for waiver of Merchant Discount Rate fees on debit card transactions up to INR 2000 as mandated by the Government of India. They agree to notify Pine Labs if their annual turnover exceeds INR 20,00,000. The merchant and authorized signatory agree to indemnify Pine Labs for any losses incurred due to improper information provided by the merchant.

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The merchant is declaring their annual turnover is below INR 20,00,000 to qualify for waiver of Merchant Discount Rate fees on debit card transactions up to INR 2000 as mandated by the Government of India. They agree to notify Pine Labs if their annual turnover exceeds INR 20,00,000. The merchant and authorized signatory agree to indemnify Pine Labs for any losses incurred due to improper information provided by the merchant.

Copyright:

© All Rights Reserved
Download as PDF, TXT or read online from Scribd
Download as pdf or txt
60 views1 page

Declaration of Annual Turnover of Upto INR 20,00,000 For MDR Waiver (As Per Mandate

Uploaded by

Amit Ganji
The merchant is declaring their annual turnover is below INR 20,00,000 to qualify for waiver of Merchant Discount Rate fees on debit card transactions up to INR 2000 as mandated by the Government of India. They agree to notify Pine Labs if their annual turnover exceeds INR 20,00,000. The merchant and authorized signatory agree to indemnify Pine Labs for any losses incurred due to improper information provided by the merchant.

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Date:

To,
The Manager – Risk Operations,
Pine Labs Pvt. Ltd.

SUBJECT: Declaration of Annual Turnover of upto INR 20,00,000 for MDR waiver (as per mandate
by the Government of India) for debit card transactions

With reference to the subject matter, we ………………………………………………………………………………………………. ,


having company registration number ……………………………………………………………………………. hereby, declare
that our annual turnover does not exceed INR 20,00,000, hence requesting MDR waiver for debit card transactions value upto
INR 2000 as facilitated by the Government of India. We will notify Pine Labs Pvt. Ltd. for our annual turnover exceeding INR
20,00,000, for MDR to be updated as per guidelines laid by Reserve Bank of India.

In the event that Pine Labs Pvt. Ltd. suffers any losses / penalty / additional MDR fee / damages on account of
above said facility on Pine Labs’ EDC Device deployed at our establishment, then I
Mr. / Ms ……………………………………………. being Authorised Signatory of
……………………………………………………………………………….. hereby admit that ………………………………………………………………….
will be liable to indemnify Pine Labs Pvt. Ltd. for any loss suffered by Pine Labs due to improper information provided.

We declare below our Annual Turnover and average transaction volumes for:

Annual Turnover
INR
(Overall business turnover including all modes of payments)

Average transaction value INR

In consideration of the above said, we the undersigned ____________________________


[Name(s) of Surety(ies) ___________________________ jointly and severally guarantee to you, Pine Labs Pvt. Ltd., the
payment of all moneys due under the aforesaid indemnity by the
executants thereof.

□ Sole Proprietor □ Partnership Firm □ Private Limited


□ Limited Company □ Association □ Others

Signature ………………………………….. Signature …………………………………..

Owner / Partner / Director / Officer Name Owner / Partner / Director / Officer Name
………………………………….. …………………………………..

Designation ………………………………….. Designation …………………………………..

Contact No. ………………………………….. Contact No. …………………………………..

Address ………………………………….. Address …………………………………..

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