Common use of Compliance with NACHA Rules and Laws Clause in Contracts

Compliance with NACHA Rules and Laws. All ACH Services provided are subject to the ACH Rules, and in the event of any conflict between anything contained in the Terms and Conditions, any bank policy, procedure, Agreement or representation, and the ACH Rules, the ACH Rules will prevail and govern. You agree to comply with the ACH Rules for each ACH transaction on your account. You agree to comply with the ACH Rules as amended from time to time, including staying updated on amendments and rule changes, and any requirements governing the proper formatting of Entries. For definition of terms used in this Section, refer to the NACHA rules governing ACH transactions. In the event we make a determination that continuation of the Services subjects the bank to risks, we may suspend or terminate any ACH Services, including Third-Party Sender Services, at any time upon notice to you. Suspension or termination of Services does not affect either parties’ rights or obligations with respect to Entries initiated prior to such suspension or termination. When a preauthorized Debit Entry from a consumer’s account varies in amount from the previous Debit Entry, you must comply with the notice requirements set forth in the NACHA Rules, the Electronic Funds Transfer Act, and federal Regulation E.