Common use of Control Totals Clause in Contracts

Control Totals. Each time you submit a Data File, the Bank will notify you by email when the Bank receives the Data File. You must access the Integrated Payables customer portal through Business Online Banking, as more specifically described in the Integrated Payables Service Schedule reference materials and verify the number of entries and the aggregate dollar amount of all entries (the "control totals"). If you elect to use the automatic file upload option through secure FTP, you will submit a separate file, “Control Total File,” with your control total, rather than keying the control total in the Integrated Payables customer portal. The Control Total File must be in the format defined by the Bank and provided to you during the implementation process. You understand and agree that the Bank recommends use of control totals and if you elect not to use control totals, such election shall be at your own risk and you will assume the full risk of unauthorized access that could have been prevented, be it internal to Customer, through the internet, or otherwise.

Appears in 4 contracts

Samples: Online Banking Agreement, southernfirst.com, www.southernfirst.com

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