Conditions

All of the following:

• The account is permanently closed.
• The issuer used good-faith efforts to collect the transaction amount from the cardholder.
• The transaction was not presented within one of the following time frames.
  
  • When the transaction was completed with electronically recorded card information (whether card-read or key-entered), the acquirer has a maximum of seven calendar days after the transaction date to present the transaction to the issuer.
  • When the transaction was completed with manually recorded card information (whether imprinted or handwritten), the acquirer has a maximum of 30 calendar days after the transaction date to present the transaction to the issuer.
  • For transactions effected at a U.S. region merchant with a card issued in the U.S. region, when the transaction was completed with manually recorded card information (whether imprinted or handwritten), the acquirer has a maximum of 14 calendar days after the transaction date to present the transaction to the issuer.
  • A Payment Transaction must be presented in clearing within one business day of the authorization date.
  • A contactless transit aggregated transaction must be presented in clearing within 14 calendar days of the authorization date.

These time frames are defined as the time between the transaction date and the Central Site Business Date. When calculating the number of days, consider the transaction date as day zero. An issuer must accept a transaction submitted beyond the applicable time frame when the account is in good standing or the transaction can be honored.

Notwithstanding these time frames, the acquirer has a maximum of 30 calendar days (14 calendar days for intra-United States transactions) after the transaction date to present a transaction when the acquirer must delay presentment:

• Because of the merchant’s delay in submitting the transaction, as permitted under Chapter 3, Transaction Records of Transaction Processing Rules; or
• A national bank holiday of at least four consecutive days occurred, which prevented the acquirer from presenting a card-read or key-entered transaction within the applicable seven-calendar-day time frame.

Dependencies

• Documentation detailing the charge for the initial service as well as for the loss, theft, or
  damage (Optional)
• The messageText field must include the value "LATE PRESENTMENT" (When this recovery option is used, the system will automatically pass this value).

Validations

None