DU escription of the Accounts Receivable Conversion ServiceU Sample Clauses

DU escription of the Accounts Receivable Conversion ServiceU. 6T 6T ccounts Receivable Conversion, or “ARC” is a standard National Automated Clearing House Association or “NACHA” entry class that provides clients using our Scannable Lockbox, or “SLB,” and ACH origination services the ability to convert eligible checks deposited through their lockbox service into automated clearing house entries. The ARC service allows eligible checks received via the U.S. mail (or equivalent service, such as an overnight delivery service) for the payment of goods and services to be converted to single-entry debits using the ARC entry class code. We will act as your agent or for purposes of the NACHA rules as your service provider to evaluate lockbox items for conversion to ARC entries or to process the item through lockbox check processing. Each lockbox item selected for conversion will be the source document for the related ARC entry. Details regarding the ARC service functionality and certain other technical requirements that you must follow when using the ARC service are provided in our SLB service reference materials and our ACH origination service reference materials, as we update either of them from time to time.
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