Common use of Bounced Check Penalty Clause in Contracts

Bounced Check Penalty. Unfortunately, there may be times when a Tenant submits a payment by check that is then refused by the issuing bank. Xxxxx will often issue a penalty when such deposits are made thus, the Landlord may declare a penalty amount to be paid by the Tenant if he or she submits a check with insufficient funds. Document the dollar amount the Landlord will charge as a penalty in this agreement. Security Deposit (16)

Bounced Check Penalty. Unfortunately, there may be times when a Tenant submits a payment by check that is then refused by the issuing bank. Xxxxx Banks will often issue a penalty when such deposits are made thus, the Landlord may declare a penalty amount to be paid by the Tenant if he or she submits a check with insufficient funds. Document the dollar amount the Landlord will charge as a penalty in this agreement. Security Deposit (16)