Common use of Image and MICR Quality Clause in Contracts

Image and MICR Quality. Each Image must provide all information on the front and back of the Original Check at the time presented to you by the drawer. Each Image of each Original Check will be of such quality that the following information can clearly be read and understood by sight review of such Image.  The amount of the Check;  The payee of the Check;  The signature of the drawer of the Check;  The date of the Check;  The Check number;  The information identifying the drawer and the paying bank that is preprinted on the Check, including the MICR line;  All other information placed on the Check prior to the time an Image of the Check is captured, such as any required identification written on the front of the Check and any endorsements applied to the back of the Check; and Each Image must also meet all standards for Image quality established by the American National Standards Institute (“ANSI”), the Board of Governors of the Federal Reserve, and any other regulatory agency, clearinghouse or association. Endorsements must be made on the back of the Check within 1 ½ inches from the top edge, although we may accept endorsements outside this space. Your endorsement must include your signature and “FOR MOBILE DEPOSIT ONLY AT CGB,” or as otherwise specified by us from time to time. Any loss we incur from a delay, processing error or any other action resulting from an irregular, incomplete or missing endorsement or other markings by you will be your responsibility. Checks made payable to multiple payees using “OR” require only the endorsement of one payee to deposit the check to an eligible account owned by the endorsing payee. Checks made payable to multiple payees using “AND” require the endorsement of all payees and the Check must be deposited into an eligible account owned by all payees. Checks submitted with incomplete or missing endorsements may be rejected for deposit.

Image and MICR Quality. Each Image must provide all information on the front and back of the Original Check at the time presented to you by the drawer. Each Image of each Original Check will be of such quality that the following information can clearly be read and understood by sight review of such Image.  • The amount of the Check;  • The payee of the Check;  • The signature of the drawer of the Check;  • The date of the Check;  • The Check number;  • The information identifying the drawer and the paying bank that is preprinted on the Check, including the MICR line;  • All other information placed on the Check prior to the time an Image of the Check is captured, such as any required identification written on the front of the Check and any endorsements applied to the back of the Check; and Each Image must also meet all standards for Image quality established by the American National Standards Institute (“ANSI”), the Board of Governors of the Federal Reserve, and any other regulatory agency, clearinghouse or association. Endorsements must be made on the back of the Check within 1 ½ inches from the top edge, although we may accept endorsements outside this space. Your endorsement must include your signature and “FOR MOBILE DEPOSIT ONLY AT CGB,” or as otherwise specified by us from time to time. Any loss we incur from a delay, processing error or any other action resulting from an irregular, incomplete or missing endorsement or other markings by you will be your responsibility. Checks made payable to multiple payees using “OR” require only the endorsement of one payee to deposit the check to an eligible account owned by the endorsing payee. Checks made payable to multiple payees using “AND” require the endorsement of all payees and the Check must be deposited into an eligible account owned by all payees. Checks submitted with incomplete or missing endorsements may be rejected for deposit.