Common use of Check Payments Clause in Contracts

Check Payments. i. Each check on the Data File will be printed in accordance with the check’s format specifications which are established within the Integrated Payables Service. Each check will be drawn on the account designated for in the payment entry for that check in your Data File. You are solely responsible for ensuring that you have sufficient funds in the account on which a check is drawn. The Bank will supply all standard materials, which will be billed to you in the amount set forth in the Fee Schedule. ii. The Bank will send checks by either first class mail or courier. If you have elected to have checks sent by first class mail, the Bank will send checks via the United States Postal Service, with appropriate postage paid. Any checks that you elect to have sent by courier will be available at a designated location, with shipping and delivery paid directly by you. You are responsible for any postage or courier expenses incurred by the Bank, as may be charged to your account from time to time. The Bank reserves the right to change the amount charged for postage and courier services at any time. iii. The Bank will conduct the check-printing services specified herein in a secure location accessible only to authorized personnel to whom access is granted in accordance with their job responsibilities. Moreover, the Bank will take commercially reasonable steps to: (1) prevent unauthorized use of your check and signature facsimile; and (2) preserve the confidentiality of your payment data while in the Bank’s possession.