Deposit Service. We will forward the Drafts you deposit with us for collection. You may only deposit Drafts that are properly payable to you and in a form and of a type approved by us. We may refuse any Draft in our sole discretion. Ordinarily, an Account is not given credit for a Draft until we receive finally collected funds for the item. If we provisionally credit your Account for any Draft, we may charge the amount back against your Account if we do not receive payment for any reason (or payment is reversed). You are responsible for ensuring that we are provided with the correct address for processing each Draft to ensure timely receipt and payment by the Draft’s payor. We will not be responsible for confirming or correcting addresses. Our sole responsibility with respect to any Draft is to exercise the ordinary care of a collecting bank in forwarding the Draft for collection and settling with you when final payment is received by us. We may discontinue providing this Service at any time upon notice to you.
Appears in 4 contracts
Samples: Ss Agreement, Ss Agreement, Ss Agreement
