A returned payment caused by insufficient balance in the merchant’s account.
Distinct from a negative day, though the two travel together. NSFs on a remittance are the first sign a deal is going wrong, and repeated ones typically constitute a breach under the agreement.
Negative days
Days on which a merchant’s bank account carried a negative balance.
Default
A merchant’s failure to meet the terms of the advance agreement, most commonly repeated missed or returned remittances.
ACH remittance
Repayment collected by scheduled debit from the merchant’s bank account rather than as a split of card receipts.
Cure period
A contractual window in which a merchant can remedy a breach before default consequences apply.
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