Common use of Bank Rights Clause in Contracts

Bank Rights. Client acknowledges that Bank’s ACH Positive Pay Service does not preclude Bank’s standard ACH processing procedures, which may cause an ACH Entry to be dishonored even if Client instructions do not otherwise require Bank to return such ACH Entry. Client acknowledges that Bank’s ACH Positive Pay Service is intended to be used to identify and return ACH Entries which Client suspects in good faith are unauthorized. The Service is not intended to be used as a substitute for authorization instructions or to delay Client pay/accept return decisions on Exception Entries, including, and not limited to, stop payment orders on ACH Entries which are not suspected in good faith to be unauthorized. If Bank suspects or deems, in Bank’s sole discretion, that Client is using the ACH Positive Pay Services contrary to those intentions, Bank may require Client to provide evidence that ACH Entries Bank returns pursuant to Client instructions were in fact unauthorized. In addition, Bank may hold Client liable for losses Bank sustains on ACH Entries which Bank is requested to return under such ACH Positive Pay Services and which Client does not reasonably establish as unauthorized ACH Entries.

Bank Rights. Client acknowledges that Bank’s ACH Positive Pay Service does not preclude Bank’s standard ACH processing procedures, which may cause an ACH Entry to be dishonored even if Client instructions do not otherwise require Bank to return such ACH Entry. Client acknowledges that Bank’s ACH Positive Pay Service is intended to be used to identify and return ACH Entries which Client suspects in good faith are unauthorized. The Service is not intended to be used as a substitute for authorization instructions or to delay Client pay/accept return decisions on Exception EntriesItems, including, including and not limited to, to stop payment orders on ACH Entries which are not suspected in good faith to be unauthorized. If Bank suspects or deems, in Bank’s sole discretion, that Client is using the ACH Positive Pay Services contrary to those intentions, Bank may require Client to provide evidence that ACH Entries Bank returns pursuant to Client instructions were in fact unauthorized. In addition, Bank may hold Client liable for losses Bank sustains on ACH Entries which Bank is requested to return under such ACH Positive Pay Services and which Client does not reasonably establish as unauthorized ACH Entries.. ACCOUNT RECONCILIATION TERMS & CONDITIONS