Check Issue File Sample Clauses

The "Check Issue File" clause establishes a requirement for maintaining and reviewing a specific file or record that documents any issues, discrepancies, or problems identified during a process or project. In practice, this clause typically obligates parties to log issues as they arise and to periodically review the file to ensure all concerns are addressed and resolved in a timely manner. Its core function is to promote transparency and accountability by providing a clear, organized record of issues, thereby facilitating effective problem resolution and minimizing the risk of unresolved matters impacting the overall project.
Check Issue File. The Check Issue File will accurately state the check number, series number, date, payee and amount of each check drawn on each of the authorized accounts as detailed in the Positive Pay authorization for this agreement, to be sent and completed later by Customer.
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Check Issue File. If Customer elects to participate in standard check Positive Pay, Customer shall submit a Check Issue File to Bank at or before the time Customer issues checks. The Check Issue File must completely and accurately provide all of the information specified in and otherwise comply with all requirements of the Positive Pay Specifications (which Customer acknowledges receiving) and Positive Pay Schedule or otherwise required by Bank. Customer must send Check Issue Files to Bank in the format and by the deadline(s) specified and at the place(s) specified in the Processing Deadline Schedule or other time required by Bank. The first Check Issue File must contain all outstanding checks that have been issued but not paid before the first Check Issue File was sent to Bank.
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Check Issue File. 2.2.1 Customer shall submit a Check Issue File to Bank. The Check Issue File shall accurately state the check number and the exact amount of each check drawn on each Authorized Account since the last Check Issue File was submitted. Additionally, the payee name is required by the Service's payee verification feature ("Payee Match"), as applicable and as further described below. Each Check Issue File shall also identify any checks that have been cancelled by Customer prior to issuance. 2.2.2 Payee Match requires the payee name to match against Customer's Check Issue File at a minimum threshold or matching score. The payee name in the Check Issue File will be electronically compared to the payee name on Presented Checks. Other information related to the payee name may also be electronically compared as part of the automated verification process to establish a matching score. Such comparisons that By: Misc. Information: Scan: result in a minimum threshold or matching score will be deemed to be a matching check. Customer is responsible for complying with Payee Match's check specifications as specified by Bank from time to time in order to ensure the highest level of performance from Payee Match. If Customer is unable, unwilling or otherwise elects not to comply with Payee Match's check specifications as specified by Bank, Bank may, in its sole and exclusive discretion, terminate or suspend Customer's use of the Service as provided in the Master Agreement, or take such other action as Bank deems necessary in its sole and exclusive discretion. Bank may also require Customer to complete an opt-out or similar waiver form to evidence Customer's election not to utilize Payee Match. 2.2.3 Customer, through its Authorized User(s) identified in the attached Schedule B, shall send the Check Issue File to Bank via the Business Online Banking Service in the format, by the deadline(s), and as otherwise specified in the attached Schedule A.
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Check Issue File. 2.2.1 Customer shall submit a Check Issue File to Bank. The Check Issue File shall accurately state the check number and the exact amount of each check drawn on each Authorized Account since the last Check Issue File was submitted (and the payee name, if Customer elects to receive payee verification services). Each Check Issue File shall also identify any checks that have been cancelled by Customer prior to issuance. 2.2.2 If Customer elects to receive payee verification services, the following additional terms shall also apply. Bank’s payee verification services require the payee name to match against Customer’s Check Issue File at a minimum threshold or matching score. The payee name in the Check Issue File will be electronically compared to the payee name on Presented Checks. Other information related to the payee name may also be electronically compared as part of the automated verification process to establish a matching score. Such comparisons that result in a minimum threshold or matching score will be deemed to be a matching check. Customer is responsible for complying with the payee verification services’ check specifications as specified by Bank from time to time in order to ensure the highest level of performance from the payee verification services. If Customer is unable or unwilling to comply with the payee verification services’ check specifications as specified by Bank, Bank may, in its sole and exclusive discretion, (a) terminate or suspend Customer’s use of the payee verification services as provided in the Cash Management Master Agreement, or (b) at Customer’s request, re- configure the software associated with the payee verification services to systematically process Presented Checks in reliance solely on the payee name provided by Customer to Bank in the Check Issue File and without regard to any other information related to the payee name that may appear on the Presented Checks (hereinafter “Systematic Override Checks”). Any Presented Check or Systematic Override Check that does not result in a minimum threshold or matching score shall be deemed an Exception Check and reported as such in accordance with the terms of this Appendix. Except as may otherwise be provided in this Appendix and in the Cash Management Master Agreement, Bank shall have no liability for Systematic Override Checks. 2.2.3 Customer shall send the Check Issue File to Bank in the format and medium, by the deadline(s), at scheduled day(s), at the place(s) specified by ...
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Check Issue File. Issue File (referenced sometimes herein as the “file”) is a file issued by Customer to Bank which provides a list of all outstanding checks issued by Customer against the Designated Accounts which were not previously listed on a Check Issue File. The file transmitted to Bank shall constitute the signature of Customer for purposes of determining whether a Presented Check is properly payable. “Presented Check” means a check drawn on a Designated Account and presented to Bank for payment. By transmitting the file, Customer expressly warrants that all Presented Checks that match the information in the file are properly payable. The file must accurately state the check number, issue date, and exact dollar amount on each check drawn on the Designated Accounts. If Customer directs Bank, on the Enrollment Form, to match the payee name, as referenced in Part II, subsection 8.11, Customer must accurately state the payee name on each check drawn on the Designated Accounts. Customer may upload files to Bank’s system on a monthly, weekly, daily and/or hourly basis. Before beginning the Positive Pay Service and providing its first file, Customer must provide Bank a list of all outstanding checks on the Designated Accounts. As noted herein, any Presented Check that does not appear in a file received by Bank or that is not manually uploaded by Customer, shall appear in the Check Exceptions. In order to avoid having a large number of items in the Check Exceptions, due to checks being presented before Bank has had an opportunity to match them to the uploaded checks, Customer should upload the file or checks to Bank’s system at least one (1) Business Day before a check is delivered to the payee. In the event of system failure, either that of Customer or of Bank, and the file cannot be or is not received by Bank for any reason or Bank cannot process the file for any reason, the file shall be considered as not received, even if Bank has possession of the file. Bank shall have no responsibility for a file that is not received and all checks presented on a Designated Account for which no file is received will be listed on the Check Exceptions as provided below.
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Check Issue File. Customer shall submit a file of issued Checks (“Check File”) to Bank on every banking day that Customer issues Checks. Each Check File shall be submitted in compliance with the formatting, content, and other requirements. Customer represents and warrants that each Item entry included in the Check File (each a “Check Entry”; multiple “Check Entries”) is accurate and complete.
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Related to Check Issue File

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