Common use of Check Limits Clause in Contracts

Check Limits. No Files or Checks exceed the limitations set forth in the Appendix for (i) single check dollar limit; (ii) daily deposit dollar limit; or (iii) daily number of items limit. If Images of Checks deposited by Customer are dishonored or otherwise returned unpaid by the drawee bank, or are returned by a clearing agent for any reason, including, but not limited, to issues relating to the quality of the Image, Customer understands and agrees that, since Customer either maintains the original Check or has destroyed the original Check in accordance with this Agreement, the original Check will not be returned, and Bank may charge back an Image of the Check to Customer's account. Customer understands and agrees that the Image may be in the form of a paper reproduction of the original Check or a substitute check. Returned items that are returned as a substitute check may not be resubmitted through the Service. The sole method whereby a returned item may be submitted is through deposit of the substitute check with Bank. Unless otherwise instructed by Bank, Customer agrees not to deposit the original Check if an Image or other debit as previously described is charged back to Customer. Customer may request that Bank re-present returned Images of Checks to the drawee or process returned Images of Checks according to instructions provided by Customer to Bank (the "Special Instructions"). These Special Instructions may be given to Bank in a separate document in conjunction with or subsequent to the execution of this Agreement. Bank shall not be bound by such Special Instructions until such time as Bank has agreed in writing to accept the Special Instructions. Notwithstanding the fact that Bank has agreed to accept the Special Instructions, Bank may, in its sole discretion, disregard the Special Instructions and charge the returned Check back to your account to which the Checks were deposited. In the event that Customer has requested that returned Images of Checks be re-presented, in no event will Bank re-present an Image of a Check in excess of the limit established or permitted for the number of times that a Check entry may be re- presented by the RDC Rules. Customer may change or amend the Special Instructions by providing Bank a written request to change or amend the Special Instructions. Changes or amendments to the Special Instructions shall not become effective until acknowledged and accepted in writing by Bank. Customer hereby agrees to pay Bank the fees for processing returned Checks and Special Instructions contained in Bank's then current Fee Schedule for such services. Bank will provide notice of receipt of deposit to you on your account statements. You are responsible for detecting and reporting to Bank any discrepancy between your records and the records Bank provides to you. If you do not detect and notify Bank of such a discrepancy within thirty (30) days of your receipt of any terminal printout, mailed report, or periodic statement (each, a “Report”), whichever is received first, then such transactions shall be considered correct, and you shall be precluded from asserting such error or discrepancy against Bank. Bank’s duties and responsibilities are limited to those described in this Agreement and any other agreements governing the accounts. Bank will use commercially reasonable care in performing its responsibilities under this Agreement. Customer agrees to monitor its account balances and charges, to promptly notify Bank if any Report conflicts with Customer’s records, and to refrain from acting on information it has reason to believe is erroneous. In all instances, the Bank's and, if the services of a third-party provider are utilized in the provision of the Remote Deposit Service, such third party's sole liability to Customer shall be limited to the correction of any errors made. Bank shall not be responsible for suspension of performance of all or any of its obligations, responsibilities, or covenants hereunder, whether expressed or implied, if at any time, or from time to time, compliance therewith is prevented or hindered by, or are in conflict with, any federal or state law, regulation or rule, the order of any court of competent jurisdiction, any act of God or of the public enemy, war, epidemic, strike, or work stoppages of the U.S. Postal Service and commercial carrier(s), or electric power disruption or shortage, telecommunications failure or computer failures; acts, omissions or errors of any carrier and/or agent operating between Customer and the Bank or the Bank and any Federal Reserve Bank or other agency utilized to exercise transfers or any recipients of transferred funds; any incorrect, unauthorized or fraudulent use or other fraud by any person other than Bank’s employees; or, without limiting the generality of the foregoing, any other cause or circumstance beyond Bank’s control or other conditions or circumstances not wholly controlled by Bank, which would prohibit, retard or otherwise affect Bank’s complete or partial performance under this Agreement. You may be using special equipment, services, or software provided by a third party to assist in processing Checks and Files hereunder. You (a) agree that any third party is acting as your agent in the delivery of Checks and Files to Bank, and (b) agree to assume full responsibility and liability for any failure of that third party to comply with the RDC Rules or this Agreement. Bank will not be liable for any losses or additional costs incurred by you as a result of any error by a third party or a malfunction of equipment provided by a third party. You shall provide at least ten (10) days advance written notice to Bank in the event it uses any such third party. You are solely responsible for maintaining compliance with the requirements of any third party, including obtaining any software updates. Bank shall not have any responsibility for any Check or File handled by a third party until that point in time when Bank accepts and approves a Check or File from such third party for processing.