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Article 1. 1.11.2Introductory ProvisionsThese Terms and Conditions for the Use of MasterCard Payment Cards (hereinafter the Terms) represent the Product Terms and Conditions in terms of the General
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General terms and conditions (GTC) are the legal stipulations that define the rights and obligations of parties involved in a contract or agreement. They often outline rules regarding transactions, obligations, liability, and dispute resolution.
Typically, businesses and organizations that engage in contracts with clients or customers are required to file general terms and conditions to regulate their agreements.
To fill out general terms and conditions, one should define the specific terms relevant to their business, including payment terms, delivery conditions, liabilities, cancellation policies, and dispute resolution procedures, ensuring clarity and compliance with applicable laws.
The purpose of general terms and conditions is to provide a clear framework for the relationship between parties, reduce misunderstandings, and protect the interests of all parties involved in an agreement.
Information that must be reported includes payment terms, delivery and performance schedules, rights and duties of the parties, confidentiality obligations, liability clauses, and procedures for dispute resolution.
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