Common use of IRD Processing Clause in Contracts

IRD Processing. Items may be transmitted for electronic processing by other banks or converted to IRDs and transmitted to a printing facility for printing and clearing through traditional paper processing channels, at Bank’s sole discretion. The IRDs will be created in accordance with Check 21; alternatively, Bank may process Items as photocopies in lieu of originals, under guidelines established between Bank and Depositor and applicable industry standards. Items that fail to satisfy the warranties made to Bank by Depositor, that fail to meet the requirements of Bank or Check 21, or that are otherwise not able to be processed may be charged back to Depositor’s account and/or returned to Depositor. Depositor agrees to be bound by any applicable laws, rules and regulations to which Bank is a party.

IRD Processing. Items may be transmitted for electronic processing by other banks or converted to IRDs (Image Replacement Documents) and transmitted to a printing facility for printing and clearing through traditional paper processing channels, at Bank’s sole discretion. The IRDs will be created in accordance with Check 21; alternatively. Alternatively, Bank may process Items items as photocopies in lieu of originals, under guidelines established between Bank and Depositor and that are consistent with applicable industry standards. Items that fail to satisfy the your warranties made to Bank by DepositorBank, that fail to meet the requirements of Bank or Check 21, or that are otherwise not able to be processed may be charged back to Depositor’s account and/or your account, returned to Depositoryou, or both. Depositor agrees You agree to be bound by any applicable laws, rules and regulations that are applicable to which Bank is a partyBank.