What is the first step in the arbitration process regarding chargebacks?

The first step in the arbitration process regarding chargebacks is the re-presentment process. This step involves the acquiring bank presenting the chargeback to the issuing bank, usually after the merchant has responded to the chargeback and provided evidence to support their case. The re-presentment process is essential because it allows the merchant an opportunity to dispute the chargeback before it escalates to arbitration.

During this phase, the acquiring bank submits additional information and documentation related to the chargeback, which can include proof of the transaction, delivery confirmation, or any other relevant evidence that could support the merchant's claim. If the issuing bank upholds the chargeback after reviewing the evidence presented during re-presentment, the next steps could lead to arbitration if the parties cannot reach an agreement afterward.

Other choices may involve important concepts related to chargebacks, but they do not represent the initial step in the arbitration process. For instance, a resolution agreement between banks could come later in the process, while a request for legal intervention is typically considered only when other means of resolution have failed. Issuing a chargebacks notification is a preliminary action that occurs before the arbitration process begins, making re-presentment the correct first step.