Merchant Banking Services

This contract is for Merchant Banking Services between the City of Tucson and Wells Fargo Bank, N.A., and Wells Fargo Merchant Services LLC. The contract has a term of 6 years, with the option to renew for an additional 12 months. The scope of services includes merchant processing services, and the City shall pay the Servicer according to the Pricing Terms attached as Schedule 1. The contract also includes provisions for data security, termination, licenses, and insurance requirements. Key points to consider: • The contract has a term of 6 years, with the option to renew for an additional 12 months. • The scope of services includes merchant processing services. • The City shall pay the Servicer according to the Pricing Terms attached as Schedule 1. • The contract includes provisions for data security, termination, licenses, and insurance requirements. • The Servicer shall maintain industry-standard data security controls and procedures. • The City may terminate the contract without penalty if certain conditions are met. • The Servicer shall obtain and maintain insurance coverage as required by the contract.