Information Reporting Services Clause Samples
The Information Reporting Services clause establishes the obligations and procedures for providing, collecting, and sharing relevant data or reports between parties. Typically, this clause outlines the types of information to be reported, the frequency and format of reporting, and the responsibilities of each party in maintaining accurate and timely records. For example, it may require a service provider to deliver periodic performance or compliance reports to a client. Its core practical function is to ensure transparency and accountability by formalizing the flow of information, thereby supporting informed decision-making and regulatory compliance.
Information Reporting Services. This Service consists of several reporting modules. The Balance Reporting module, for example, allows you to access current and previous day balances, transaction and float information, historical information, and information on certain pending transactions. You also can elect to receive images of items deposited or posted to your Account the previous day. The special reports feature enables you to access various reports online on the day we generate the information.
Information Reporting Services. M&I agrees to provide Customer with ------------------------------ Information Reporting Services in accordance with this Agreement and Schedule 5.7.
Information Reporting Services. 1) The Bank shall provide Web-based online reporting capabilities to each Participant, via the Bank’s Wachovia Connection System.
2) The Bank shall provide online previous day DDA account transaction activity (both summary report and detailed report).
3) The Bank shall provide online previous day ACH origination transaction activity.
4) The Bank shall provide an online ACH Returns report (including “notifications of change”). Information provided shall include: Return Date, Transaction Amount, ACH Return Window, Standard Entry Class, Type (Debit/Credit), Originating Account #, Originating ABA #, Customer ID #, Customer Name, Original Trace #, Return Trace # and Return Reason.
5) For the Participants subscribing to same-day online reporting, the Bank shall provide online current day EFT transaction reports (both ACH and wire transfers).
6) The Bank shall provide for online historical transaction inquiries as follows:
a. Previous Day Balance and Detail Report – six business days.
b. Interim Account Statement – 90 calendar days c. Comprehensive Balance Report – Previous banking day
d. Balance History Report – 90 calendar days
e. ACH Returns Report – six business days
f. EFT Advice Report – 60 calendar days
7) The Bank shall provide secured access to web-based reporting via SSL technology and required user ID and password.
8) The Bank shall provide global access to the DST and OSC for all accounts established for State Participants, at the same reporting level subscribed by the Participant.
Information Reporting Services