Saturday, February 4, 2012 1:29:34 AM
To make a payment via MonsterPay requires the end user to wait a month for their next bank statement in order to conclude the deal! .
Businesses actually use this Financial Service Provider? .
2.7. Liability for Violations of the Acceptable Use Policy. If you engage in the following conduct, MonsterPay may fine you, as explained below:
Using the Services to receive payments for any sexually oriented or obscene materials or services;
Using the Services to receive payments for wagers, gambling debts or gambling winnings, regardless of the location or type of gambling activity;
Using the Services to receive payments for airtime, phone cards or PIN, VoIP, SMS, SMS credits, WiFi access or subscription and any telecommunication products;
Using the Services to receive payments for any narcotics, other controlled substances, steroids or prescription;
Using the Services to receive payments for jewellery, precious stones, gems, gold, platinum, silver and minerals;
Using the Services to receive payments for tobacco or liquor;
Using the Services in respect of or in association with money laundering or any activity that constitutes a crime or contravenes any law.
You and MonsterPay agree that the damages that MonsterPay will sustain as a result of the conduct outlined above will be substantial, may include (without limitation) fines and other related expenses from its payment processors and service providers and/or your bank or the issuer of your cards, and may be extremely difficult and impractical to calculate. In the event that you engage in such conduct, then MonsterPay may, at its election, fine you USD25,000 and/or USD50,000 for gambling and/or MonsterPay may take legal action against you to recover losses that are in excess of the amount fined. You acknowledge and agree that USD25,000 and/or USD50,000 is presently a reasonable minimum estimate of MonsterPay’s damages, considering all relevant factors, including (without limitation) the relationship of the fine to the extent of harm to MonsterPay that reasonably could be anticipated. You agree that MonsterPay is entitled to deduct such fines directly from any existing balance in the offending account, or any other MonsterPay account owned by you or, if there are insufficient funds in your account, to debit the bank accounts that you have registered in respect of the Services or to charge your primary card to the value of the fine.
If you use the Services in a manner that violates the Acceptable Use Policy, including but not limited to the categories described above, your account will be subject to limitation or immediate termination, as stated in the Closing Accounts and Limiting Account Access Policy.
You further understand that, if you use the Services in a manner that violates the Acceptable Use Policy, including but not limited to the categories described above, MonsterPay may incur substantial liability and/or suffer significant damages, including (without limitation) fines and other related expenses from its payment processors and service providers. By selling goods or services (including access to content) in contravention of the Acceptable Use Policy or the Restricted Activities section of this User Agreement (currently Section 8.2), you acknowledge liability to MonsterPay for any and all damages suffered by MonsterPay. Without limiting the foregoing, you agree to reimburse MonsterPay for any and all costs, expenses, and fines levied on MonsterPay by its payment processors and/or service providers and/or your bank and/or the issuer of your cards as a result of your activities.
You agree that, if either you or MonsterPay commence litigation or arbitration in connection with this paragraph, the prevailing party is entitled to recover reasonable attorneys’ fees and any other costs incurred in such proceeding in addition to any other relief to which the prevailing party may be entitled.
I would never agree to that if I was running a business! They can have the right to close my account or take legitimate legal action but I would never agree to pay a "fine" imposed by someone who not legally entitled to judge me to begin with! .
Not to mention that there is not limitation placed on that fine. Now, I'm no legal contract expert but, doesn't that invalidate the clause? .