Issued Check File. For Accounts identified in the Request and Implementation Forms, Client agrees to deliver or transmit the check number, date, payee and the exact dollar amount of each check drawn on an Account on the day such checks are issued (such data cumulatively, the “Issued Check File”) to Bank in the format and medium as specified by Bank. Each Account shall require an Issued Check File for all checks issued. Client shall submit the Issued Check File to Bank no later than 7:00 p.m. Central Time each Business Day that Client issues checks. With the exception of checks presented for immediate payment in person at Bank over the counter (“On-us checks”), Issued Check File data received by 7:00
Issued Check File. You agree to provide us with a list of the serial numbers, issue dates, payee names (exact spelling) and the exact amounts (dollars and cents) of the checks that you have issued (“Issued Check File”). We will match the check numbers, payee names and amounts against items presented to us through normal interbank check clearing procedures (e.g., local clearinghouse, Federal Reserve, or direct send presentment cash letter) (“Presented Checks”). You authorize and instruct us to pay Presented Checks that match the serial numbers, payee names and amounts set forth in an Issued Checks File received by us in your name, without further investigation or review by us. You agree that: (a) Presented Checks that match the check numbers, payee names and amounts are, and should be treated by us as, properly payable; (b) we have no duty to inspect Presented Checks for unauthorized or improper signatures or alterations or otherwise to take steps to determine whether they are properly payable; and (c) we may compare Issued Check File information with information that is encoded on Presented Checks. We assume no duty to identify and/or return duplicate checks, checks with duplicate serial numbers, mis-encoded items, checks with non-matching issue dates, or checks lacking an encoded serial number. We will not be required to physically examine matching checks to confirm that they are properly signed, completed and encoded. You agree that we may rely on the process described above and that it will be deemed an acceptable standard of care for this Service and youraccount.
Issued Check File. Referenced sometimes herein as the “File” is a file issued by Company to the Bank which provides a list of all outstanding checks issued by Company against the designated accounts which were not previously listed on an Issued Check File.
Issued Check File. By transmitting the File, Company expressly warrants that all Presented Checks that match the information in the File are properly payable. The File must accurately state the check number, issue date, and exact dollar amount on each check drawn on the designated accounts. Before beginning the Positive Pay Service and providing its first File, Company must provide Bank a list of all outstanding checks on the designated accounts. Any Presented Check that does not appear in a File received by Bank or that is not manually uploaded by Company, shall appear as an Exception Item. In order to avoid having a large number of Exception Items, Company should upload the File or checks to Bank’s system by the deadlines provided in the Positive Pay Configuration/Training Checklist.
Issued Check File. The Customer shall submit an Issued Check File to the Bank.
2.1.1 The Issued Check File shall accurately state the check number, date and the exact dollar amount of each check drawn on an Authorized Account since the last Issued Check File was submitted. Each Authorized Account shall require an Issued Check File for all checks issued.
2.1.2 The Customer shall send the Issued Check File to the Bank in the format and medium as specified by the Bank and agreed to by the Customer.
2.1.3 In the event of system failure, either that of the Customer’s or of the Bank’s, and the Issued Check File cannot be received by the Bank or the Bank cannot process the file, the file shall be considered as not received, even if the Bank has possession of the file.
