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A sample volume discount clause.
Volume-Based Card Acceptance Agreement [Abbreviated]
This Agreement is by and between Card, Inc., a New York corporation, and you, the Merchant. By accepting the Card, you agree to be bound by the Agreement.
Discount means an amount that we charge you for accepting the Card, which amount is:
(i) a percentage (Discount Rate) of the face amount of the Charge that you submit, or a flat per-
Transaction fee, or a combination of both; and/or
(ii) a Monthly Flat Fee (if you meet our requirements).
Transaction Processing and Payments. Our Card acceptance, processing, and payment requirements are set forth in the Merchant Regulations. Some requirements are summarized here for ease of reference, but do not supersede the provisions in the Merchant Regulations.
Payment for Charges. We will pay you, through our agent, according to your payment plan in US dollars for the face amount of Charges submitted from your Establishments less all applicable deductions, rejections, and withholdings, which include:
(i) the Discount,
(ii) any amounts you owe us or our Affiliates,
(iii) any amounts for which we have Chargebacks and
(iv) any Credits you submit. Your initial Discount is indicated in the Agreement or otherwise provided to you in writing by us. In addition to your Discount we may charge you additional fees and assessments, as listed in the Merchant Regulations or as otherwise provided to you in writing by us. We may adjust any of these amounts and may change any other amount we charge you for accepting the Card.
SETTLEMENT
a) Settlement Amount. Our agent will pay you according to your payment plan, as described below, in US dollars for the face amount of Charges submitted from your Establishments less all applicable deductions, rejections, and withholdings, which include:
(i) the Discount,
(ii) any amounts you owe us or our Affiliates,
(iii) any amounts for which we have Chargebacks, and (iv) any Credits you submit. Our agent will subtract the full amount of all applicable deductions, rejections, and withholdings, from this payment to you (or debit your Bank Account), but if it cannot, then you must pay it promptly upon demand.
b) Discount. The Discount is determined according to the following table:
| Annual Dollar Volume | Discount |
| Less than $1 million | 3.00% |
| $1 million to $10 million | 2.90% |
| Greater than $10 million | 2.80% |
_______________________ _____________________
Card, Inc. Merchant
This is a smart legal clause that conforms to the Accord Protocol Template Specification, the protocol is managed by the open-source community of the Accord Project. The clause can be parsed and executed by the Cicero engine.
A sample volume discount clause.
This clause contains:
Unzip the library with your favourite tool
Then from the command-line, change the current directory to the folder containing this README.md file.
cd volumediscount
cicero execute --template ./ --sample ./sample.txt --request ./request.json --state ./state.json
Note, all of the command-line flags (like
--template) are optional.
Alternatively you can use the simpler command below if you want to use all of the default files.
cicero execute
You should see the following output in your terminal:
mattmbp:volumediscount matt$ cicero execute
18:33:10 - info: Logging initialized. 2018-05-15T22:33:10.712Z
18:33:11 - info: Using current directory as template folder
18:33:11 - info: Loading a default sample.txt file.
18:33:11 - info: Loading a single default request.json file.
18:33:11 - info: Loading a default state.json file.
18:33:11 - info: CICERO-ENGINE {"request":{"$class":"org.accordproject.volumediscount.VolumeDiscountRequest","netAnnualChargeVolume":0.4,"transactionId":"bd964fa1-042e-46ad-b7c4-9c755205dbf4","timestamp":"2018-05-15T22:33:11.435Z"},"state":{"$class":"org.accordproject.common.ContractState","stateId":"org.accordproject.common.ContractState#1"},"contract":{"$class":"org.accordproject.volumediscount.TemplateModel","firstVolume":1,"secondVolume":10,"firstRate":3,"secondRate":2.9,"thirdRate":2.8},"response":{"$class":"org.accordproject.volumediscount.VolumeDiscountResponse","transactionId":"f2a060e1-792e-40cc-a055-fd0faeb25aa9","timestamp":"2018-05-15T22:33:11.446Z"},"emit":[],"now":"2018-05-15T22:33:11.445Z"}
18:33:11 - info: {"clause":"volumediscount@0.0.6-e6b68c35598afb65ddf51bfc40ada8cb482cb441605eb0285d46e708f8654d58","request":{"$class":"org.accordproject.volumediscount.VolumeDiscountRequest","netAnnualChargeVolume":0.4},"response":{"$class":"org.accordproject.volumediscount.VolumeDiscountResponse","discountRate":3,"transactionId":"f2a060e1-792e-40cc-a055-fd0faeb25aa9","timestamp":"2018-05-15T22:33:11.446Z"},"state":{"$class":"org.accordproject.common.ContractState","stateId":"org.accordproject.common.ContractState#1"},"emit":[]}
Request, as in request.json
{
"$class": "org.accordproject.volumediscount.VolumeDiscountRequest",
"netAnnualChargeVolume": 0.4
}
For the request above, you should see the following response:
{
"$class":"org.accordproject.volumediscount.VolumeDiscountResponse",
"discountRate":3,
"transactionId":"5f448219-851a-4b10-8fb9-14f979951ebd",
"timestamp":"2018-02-18T11:36:40.353Z"
}
This clause comes with an automated test that ensures that it executes correctly under different conditions. To test the clause, complete the following steps.
You need npm and node to test a clause. You can download both from here.
This clause was tested with Node v8.9.3 and NPM v5.6.0
From the volumediscount directory.
npm install
npm test
If successful, you should see the following output
mattmbp:volumediscount matt$ npm test
> volumediscount@0.0.6 test /Users/matt/dev/mttrbrts/cicero-template-library/volumediscount
> mocha
11:37:53 - info: Logging initialized. 2018-02-18T11:37:53.706Z
Logic
#VolumeDiscount
...
✓ should execute a smart clause
1 passing (326ms)
Output above is abbreviated for clarity at
...