Common use of Check Retention and Destruction Clause in Contracts

Check Retention and Destruction. You agree to (a) prominently xxxx the item as “ Electronically Presented” to ensure that it is not represented for payment, (b) securely store each original check that you deposit using the Mobile Deposit Services for a period of (60) sixty days after transmission to us in order to verify settlement and credit or to balance periodic statements, (c) after such period expires, xxxx the original “VOID” or destroy it by cross-cut shredding or another commercially acceptable means of destruction, (d) be responsible for any loss caused by your failure to secure an original check, (e) never re-present a previously deposited check, and (f) during the retention period, promptly provide any retained check, or a sufficient copy of the front and back of the check, to us as requested to aid in the clearing and collection process, to resolve claims by third parties with respect to any check, or for our audit purposes. If you are unable to provide a sufficient copy of the front and back of the check you will be liable for any unresolved claims by third parties.

Check Retention and Destruction. You agree to (a) prominently xxxx mark the item as “ Electronically Presented” to ensure that it is not represented for payment, (b) securely store each original check that you deposit using the Mobile Deposit Services for a period of (60) sixty days after transmission to us in order to verify settlement and credit or to balance periodic statements, (c) after such period expires, xxxx mark the original “VOID” or destroy it by cross-cut shredding or another commercially acceptable means of destruction, (d) be responsible for any loss caused by your failure to secure an original check, (e) never re-present a previously deposited check, and (f) during the retention period, promptly provide any retained check, or a sufficient copy of the front and back of the check, to us as requested to aid in the clearing and collection process, to resolve claims by third parties with respect to any check, or for our audit purposes. If you are unable to provide a sufficient copy of the front and back of the check you will be liable for any unresolved claims by third parties.