Common use of CHECK COLLECTION Clause in Contracts

CHECK COLLECTION. Merchant authorizes SPS-EFT to represent all return items forwarded to SPS-EFT and to originate an electronic entry for the amount of any allowable recovery fee. Merchant agrees to complete a return item authorization form and forward it to Merchant's bank. SPS-EFT shall have sixty (60) days from the date of receipt of a return check item to complete their electronic re-presentment process. If this Agreement is terminated for any reason, SPS-EFT will retain the right to complete their electronic re-presentment process for all return check items forwarded to SPS-EFT prior to said termination.

CHECK COLLECTION. Merchant authorizes SPS-EFT to represent all return items forwarded to SPS-EFT and to originate an electronic entry for the amount of any allowable recovery fee. Merchant Xxxxxxxx agrees to complete a return item authorization form and forward it to Merchant's bank. SPS-EFT shall have sixty (60) days from the date of receipt of a return check item to complete their electronic re-presentment process. If this Agreement is terminated for any reason, SPS-EFT will retain the right to complete their electronic re-presentment process for all return check items forwarded to SPS-EFT prior to said termination.