English Icelandic
Merchant Accounts Credit Card Services


Policy on the Acceptance of Seminars and Conferences

Policy on the Acceptance of Seminars and Conferences
 
Return to the Compliance Index or list of Prohibited and Restricted Products
 
Introduction

The policy outlined below represents the latest acceptance rules for seats/places at seminars, conferences, short courses, or other events for which tickets are sold in advance.

It does in no way constitute an obligation by DalPay to accept any particular sponsored merchant or DalPay Retail Supplier; that decision depends on an individual risk assessment.

1. Definition

1.1 This policy applies to any event for which tickets for seats/places are sold in advance of the event taking place.

2. Policy

2.1 It is a general requirement of the card associations that goods/services be rendered at the time when the credit card is actually charged for a sale. In the case of a seminar/conference or other event, the product is not supplied until well after the time when the credit card is charged and therefore is deemed to be a higher risk item.

2.2 DalPay Retail will allow sales of tickets/places for your event as a Restricted Item under the following conditions:

2.2.1 Our risk department requires a record of your event history for the last two years, including documentation proving you have held at least one comparable previous event successfully (copy of a brochure, review/comment on event in an independent newspaper or magazine, etc.) and previous attendance numbers, prior to approving your current event for sale.

2.2.2 Suppliers are required to provide DalPay Retail with a legally binding guarantee that protects us in the case that the event does not take place, or against other circumstances that may result in large numbers of cancellations or refunds for the 70% of sales paid out to you before the event takes place. I.e. so that purchasers have no claim for refunds against DalPay Retail for funds already paid out.

2.2.3 Purchasers/attendees/delegates must be provided with tangible evidence of purchase, such as a ticket, a certificate of registration, etc. at the point when the sale is made (both online, and in printed form either given to them at point of sale or sent by postal mail). For higher value tickets (above USD 300 or equivalent) an authorization form will also be required from each purchaser to be sent to DalPay Retail.

2.2.4 Guarantees and warranties regarding refunds based on subjective attendee satisfaction or other factors must NOT be made.

2.2.5 DalPay will holdback 30% of each sale pending verified completion of the event (with 70% of the sale being paid in the pay period following the purchase of the event ticket by the customer).

2.2.6 The 30% holdback will be released in two installments. The first installment of 20% will be released no earlier than one week following the verified and successful holding of the event (being settled in the next applicable pay period).

2.2.7 Supplier is required to contact us after the event has taken place successfully so that we may verify and arrange to pay back the first 20% installment.

2.2.8 The remaining 10% reserve will be released 90 days following the event, or 180 days following the original date of sale depending on the date of the event taking place.

2.3 DalPay Retail reserves the right to vary the holdback percentage and release installments based on perceived risk to DalPay Retail in reselling tickets to the particular event.

This Policy on the Acceptance of Seminars and Conferences was last revised on July 1, 2006.
Version: 1.1.
 
Return to the Compliance Index or list of Prohibited and Restricted Products