Reso 2014-2242 - Laserfiche WebLink

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may also reject any Entry which contains a future Settlement Date that exceeds the limits set forth within the Services. Bank may reicct an On -Us Entry for any reason for which an Entry may be returned under the NAC/lA Rules. Bank may reject any Entry if Customer has failed to comply with its Settlement Account balance obligations under Section 2. Customer Obligations. If Customer has authorized an ACI file containing individual payment orders and the applicable Account has insufficient funds. Bank reserves the right to reject the entire tile. Notices of'rcjection shall be effective when given. Bank shall have no liability to Customer by reasons of the rejection of any such Entry or the fact that such notice is not given at an earlier time than that provided for herein. Bank may monitor Customer's rejected or returned Entries. Bank reserves the right, in its sole and exclusive discretion. to require Customer to establish a reserve Account in the event that an excessive number of Customer's debit Entries are rejected or returned. 13. Cancellation or Amendment by Customer. Customer shall have no right to cancel or amend any Entry or file after its receipt by Bank. However, if such request complies with the Security Procedures applicable to the cancellation of data. Bank shall use reasonable efforts to act on a request by Customer for cancellation of an Entry prior to transmitting it to the ACII Operator, or in the case of an On -Us Entry, prior to crediting or debiting a Receiver's account. but Bank shall have no liability if such cancellation is not effected. Customer shall reimburse Bank for any expenses, losses, or damages Bank may incur in effecting or attempting to effect the cancellation or amendment of an Entry. 14. Reversing Entries /Files. If Customer discovers that any Entry or file Customer has initiated was in error. it may use the Services to correct the Entry or file by initialing a reversal or adjustment, or Customer may notify Bank of'such error and Bank will utilize reasonable efforts on behalf of Customer, consistent with the NACHA Rides, to correct the Entry or file by initiating a reversal or adjustment of' such Entry or file. In all such cases, it shall be the responsibility of Customer to notify the allcctcd Receiver that an Entry or file has been made which is at variance with the authorization or is otherwise erroneous. Customer indemnities Bank against any claim by any, Receiver that a reversing Entry or file requested by Customer is wrongful. Customer understands and acknowledges that certain RDFIs may not or cannot comply with such reversal and that, in such an event. Bank will debit Customer's Settlement Account in the amount of the provisional credit applied to the Settlement Account for such Entry or file. 15. Notice of Returned Entries. Bank will use reasonable efforts to notify Customer by phone or electronic transmission of the receipt of a returned Entry from the ACI I Operator no later than one (1) Business Day after the Business Day of such receipt. Except for an Entry re- transmitted by Customer in accordance with the requirements of Section 5, Transmittal of kAtries br Customer. Bank shall have no obligation to re- transmit a returned Entry to the ACH Operator if Bank complied with 24 of /,' the terms of this Appendix with respect to the original Entry. 16. Notifications of Change. Bank will use reasonable efforts to notify Customer of each Notification of Change ( "NOC ") or Corrected Notification of Change (" Corrected NOC ") received b} Bank related to Entries transmitted by Customer within two (2) Business Days alter receipt thereof. Customer shall ensure that changes requested by the NOC or Corrected NOC are made within six (6) Business Days of Customer's receipt of the NOC or Corrected NOC information from Bank or prior to initiating another Entry to the Receiver's account, whichever is later. 17. Pre - Notification and Rejection of Pre - Notification. Bank recommends that. as permitted by the NACHA Rules or applicable law. Customer send pre - notifications at least six (6) Business Days prior to initiating an authorized Entry to a particular account in a format and medium approved by the NACHA Rides. Customer may, also initiate a new pre- notification (i) when any changes are made to an account number, financial institution, or individual identification number or (ii) as otherwise slated in the NACHA Rules. If Customer receives notice that any such pre - notification has been rejected by an RDFI. Customer will not initiate any related Entry until the cause for rejection is resolved as provided in the NACHA Rides. If' Customer receives notice that an RDFI will not receive Entries without having first received a copy of the authorization signed by its customer. Customer will not initiate any Entry to such customer(s) until it has provided the RDFI with such authorization within the time limits provided in the NACHA Rules. Customer understands and acknowledges that once a pre - notification has been initiated using the Services. Customer will be restricted from initiating any Entry to such customer(s) for six (6) Business Days. 18. Participant Authorization for Entries. 18.1 To the extent required by the ;%ACILI Rules or applicable law, Customer will obtain all consents and written authorizations for all Entries in accordance therewith. Such authorizations and any related disclosures shall he in a form that complies with (i) all requirements of the NACHA Rules and (ii) all applicable federal and state laws and regulations, as the same may be amended from time to time. including, without limitation, any applicable requirements of Regulation E. the Federal Electronic Funds 'transfer Act_ and sanctions enforced by OFAC. Customer shall obtain and maintain current information regarding OFAC enforced sanctions. (This information may be obtained directly from the OFAC Compliance Hotline at (800) 540 -OFAC or by visiting the OFAC website at www.ustreas.Vov /ofac.) Each Entry will be made according to such authorization and shall comply with the N110H.9 Rules. No Entry will be initiated by Customer after such authorization has been revoked or the arrangement between Customer and such Receiver or other party has terminated. 18.2 Customer shall retain all consents and authorizations for the period required by the NAClIA Ruler.