Which of the following is true regarding a Chargeback Form (ICA-3)?

The statement about the Chargeback Form (ICA-3) being true is that it contains information relevant to the chargeback process. The Chargeback Form is specifically designed to facilitate the resolution of disputes between merchants and cardholders or issuing banks.

This form provides essential details, including the reason for the chargeback, transaction details, and any pertinent documentation required to support the claim. The structured information helps ensure that both parties have a clear understanding of the dispute and can address it effectively.

Other options do not accurately represent the function or requirements related to the Chargeback Form. For example, the form is not optional for merchants in cases where a chargeback occurs; they need to utilize it to comply with the necessary processes. It also is not limited to disputes over a specific amount, as it can be used for transactions of varying values. Additionally, while certain systems may assist in generating forms based on completed transactions, user input is typically necessary to accurately provide the context and details relevant to each specific chargeback situation.