Reso 2014-2242 - Laserfiche WebLink

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(ii) Remotely - created checks: (iii) Checks drawn on banking institutions outside the U.S. or in currencies other than U.S. Dollars: (iv) Irregular checks (e.g.. where the numerical and written amounts are different): (v) Previously- returned checks: (vi) Checks payable to or in cash: (vii) Checks exceeding any Customer transaction or file limits as Bank may establish from time to time: and (viii) Checks that are postdated or more than six (6) months old. 3.2 Customer shall enter check information into the Services Site, imaging the front and the back of each paper check and capturing the information contained in the MICR line of the paper check. Customer shall review each Check Image for clarity to ensure that the item can be reproduced as an Image Replacement Document ("110)(s)" or "Substitute Check(s) "). Using the Services. an electronic file will be created ("Electronic Filc ") that contains electronic information relating to and converted from the paper checks that have otherwise been truncated or removed from the firrward collection and payment process (each an "Electronic Item "). To ensure accuracy. Customer shall balance the dollar total of each deposit to the sum of the Electronic Items prior to transmitting the Electronic Pile to Bank. Customer shall determine that the Electronic File has been received based on the confirmation page of the Services Site. Bank will indicate acceptance of the transactions and any rejected transactions on the Services Site. Customer shall process any rejected transactions as paper checks through the normal paper check deposit process. 3.3 Customer shall enter the dollar amount of a paper check(s). along with any other optional information that Customer would like retained by the Services Site. The Services Site provides for reports and exporting of the information that has been entered. 3.4 Bank shall electronically deliver to Customer. through the Services Site. a confirmation of receipt for each deposit submitted. and the deposit shall be considered received by Bank when such confirmation is delivered to Customer. Deposits received via the Service by 9:00 p.m. Eastern Timc on any Business Day or at any time on any Calendar Day that is not a Business Day will be posted to Customer's Account on the same Business Day. with next Business Day availability of'deposits based on Banks Account Agreement. Bank reserves the right to reject any single check image or group of check images for any reason. before or after delivery of confirmation of receipt. 3.5 Customer acknowledges and agrees that in the event any deposited item converted to a Check- Image is returned for any reason (for example, non - sufficient funds). Bank may return the item to Customer by delivery of either a Substitute Check or the Check Image, including all return information. Return items will be handled in the same manner as check deposits in accordance with the Account Agreement. 4. Customer Responsibilities and Obligations. 4.1 Customer represents, warrants and covenants that alter truncation of an original check. Customer shall safeguard the Electronic Items and original checks identified in any Electronic File previously sent to Bank in order to ensure that such original checks and Electronic Items: (i) shall not be suhrnitted for deposit with Bank or any other financial institution. except in accordance with the terms and conditions of this Appendix related to un- processable Electronic Items and (ii) shall not be transferred for value to any other person or other entity. Customer shall ensure that each original check is properly marked with the wording which states that the deposit has been sent for processing (" Electronically Presented"). 4.2 Upon receipt of any transmitted Electronic File, Bank shall be the lawful owner of such F,Icct•onic File and each Electronic Item with respect to original checks imaged in that Electronic File. Customer shall retain all original checks truncated pursuant to this Appendix for a period of sixty (60) Calendar Days in a manner that is mutually agreed upon between the parties hereto. however, for accounting. auditing and other legal purposes, Customer may keep electronic records regarding its receipt and deposit of such checks, provided such internal electronic records cannot be used to generate duplicate Electronic Files for purposes of depositing and presenting such checks for payment. 4.3 Customer shall deliver promptly to Bank, upon its request, the original check if it request is made within the retention period provided above, or Substitute Check or Sufficient Copy thereof, for each Electronic Item created by Customer. The term "Sufficient Copy' means a copy of an original check that accurately represents all of the information on the front and back of the original check as of the time the original check was truncated or is otherwise sufficient to determine whether or not a claim is valid. 4.4 Customer shall not create at anv time an Electronic File under this Appendix or otherwise use the Application to capture or maintain tax identification numbers or non - public personal information of any third - party from whom Customer has received an original check for payment or deposit or which Customer has selected for truncation. 4.5 Customer agrees to abide by all federal and state laws. and rules and regulations applicable to banking transactions. 4.6 If Bank receives a returned item for a check deposited by Customer after Customer has terminated this Appendix, then Customer agrees that Bank may debit Customer's Account. or if' such Account has been dosed by Customer. Bank will send a request for payment to Customer, and Customer agrees to paN Bank within a commercially reasonable period of time. 4.7 Customer agrees to have controls in Place to ensure that the Services. including the I lardwarc and checks processed through the Hardware, are properly I/C 4833- 0113 -0 ^5- 40 ,,f62 0912