Hear Ye! Since 1998.
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Apr 14

Your credit limit is how high?

I just saw this query on one of the in-house counsel mailing lists I’m on:

Our B2B customer wants to put one of the milestone payments due to us (to the tune of $1,000,000!) on their credit card.  Incredulity aside, we want to avoid that as we would be hit with around $35,000 in fees, not to mention the transaction size would exceed our monthly limit.  Can we refuse this request if our contract is silent on the method of payment?  I know merchants are not required to accept credit cards, but where there already is a signed purchase contract and it is silent on the issue of how payment is to be made, can payment by credit card somehow be construed in the eyes of the law as acceptable, even though it would result in us incurring substantial fees?

Thank you in advance for your insight!

Without doing any research, I am pretty sure the answers are yes and no respectively… but all I can really think about when I read that question is how many frequent flier miles that could generate!

  3:06am  •  Law  •   •  Tweet This  •  Add a comment

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