Reso 2014-2242 - Laserfiche WebLink

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(vi) Customer specifically acknowledges that it has received notice of the rule regarding provisional payment and of the fact that, if such settlement is not received, the RDFI shall be entitled to a refund from the Receivcr of the amount of the Entry: (vii) with respect to each International ACH Transaction ("IAT ") that Customer may be permitted by Bank to initiate. Customer shall (a) classify and format payments transmitted to or received from a financial agency outside the U.S. as an IAT in accordance with the N.1C l[,I Rules. (b) provide data necessary to accompany the transaction in compliance with the Bank Secrecy Acts " "travel Rule." (c) screen the IA F prior to transmitting any tile(s) of Entries to the Bank in accordance with the requirements of OFAC and comply with OFAC sanctions. and (d) otherwise comply with and be suhiect to all other requirements of U.S. law, the N.f( -IL,1 Rules, OFAC and FinCEN. as well as the laws and payment system rules of a non -U.S. receiving destination: (viii) with respect to Cacti Internet- initiated ("WEB ") ACH Entry that Customer may he permitted by Bank to initiate. (a) Customer employs (1) commercially reasonable detection systems to minimize risk of fraud related to Internet - initiated payments. (2) commercially reasonable procedures to verify validity of routing numbers. (3) commercially reasonable methods of authentication to verify the identity of the Receiver, and (4) commercially reasonable security technology that at a minimum is equivalent to 128 -bit encryption technology. and (b) where required by the N /W11.4 Rules and /or Bank. Customer conducts annual audits as to its security practices and procedures that include, at a minimum. verification of adequate levels of (1) physical security to protect against theft, tampering. or damage, (2) personnel and access controls to protect against unauthorized access and use and (3) network security to ensure secure capture. storage. and distribution: (ix) with respect to each Telephonc- Initiated ("TEL") Entry that Customer may he permitted by Bank to initiate. Customer has (a) employed commercially reasonable procedures to verify the identity of the Receiver. and (b) utilized commercially reasonable procedures to verify that routing numbers arc valid: (x) with respect to each Accounts Receivable ("ARC") Entry that Customcr may be permitted by Bank to initiate, (a) the amount of the Entry, the routing number, the account number and the check serial number arc in accordance with the source document. (b) Customer will retain a reproducible, legible image, microfilm or copy of the front of the Receivers source document for each ARC Entry for two (2) years from the Settlement Date of the ARC Entry. (c) Customer has employed commercially reasonable procedures to securcly store (1) all source documents until destruction and (2) all banking information relating to ARC Entries, (d) Customer has established reasonable procedures under which the Receiver may notify Customer that receipt of Receiver's checks does not constitute authorization for ARC Entries to the Receiver's ll�l account and that Customer will allow the Receiver to opt - out of check conversion activity. and (e) the source document to which each ARC Entry relates may not be presented or returned such that any person will be required to make payment based on the source docmnent unless the ARC F,ntry is returned: (xi) with respect to each Back Office Conversion ("BOC-) Entry that Customer may be permitted by Bank to initiate, (a) Customer has employed commercially reasonable procedures to verify the identity of' the Receiver, (b) Customer has established and maintains a working telephone number for Receiver inquiries regarding the transaction that is answered during normal business hours and that such number is displayed on the notice required by the N.IC77:1 Rules for 130C Entries. (c) the amount of the Entry, the routing number, the account number and the check serial number arc in accordance with the source document. (d) Customer will retain a reproducible, legible image, microfilm or copy of the front of the Receiver's source document for each I30C Entry for two (2) years from the Settlement Date of the BOC Entry, (e) Customer has employed commercially reasonable procedures to securcly store (1) all source documents until destruction and (2) all banking information relating to BOC Entries, and (t) the source document to which each BOC Entry relates will not be presented or returned such that any person will be required to make payment based on the source document unless the 130C Entry is returned: (xii) with respect to each Point -of= Purchase ( "POP") Entry that Customer may be permitted by Bank to initiate, the source document provided to Customer for use in obtaining the Receiver's routing number. account number. and check serial number for the initiation of the POP Entry (a) is returned voided to the Receiver after use by Customcr and (b) has not been provided to the Receiver for use in any prior POP Entry: and (siii) with respect to each Returned Check ( "RCK ") Entry that Customer may be permitted by Bank to initiate. (a) all signatures on the item are authentic and authorized. (b) the item has not been altered. (c) the item is not subject to a defense or claim. (d) the Entry accurately reflects the item, (e) the item will not be presented unless the related Entry has been returned by the RDFI. (t) the information encoded after issue in magnetic ink on the item is correct. and (g) any restrictive endorsement placed on the item is void or ineffective. Subject to the provisions of Section 768.28 of the Florida Statutes. as applicable and as the same may be amended Irom time to time. Customer shall indemnify and hold Bank harmless from any loss, liability or expense (including reasonable attorneys' fees and costs) resulting from or arising out of any breach of the foregoing warranties. representations or agreements. Customer shall also indeninifv and hold Bank harmless from any claim of any person that Bank is responsible for any acts or omissions of Customer regarding any Entry received from Customer. or those of' any other person related thereto. including. without