Payee Positive Pay. Customer shall designate to Bank all positive pay Accounts that shall use Payee Positive Pay. In addition to the Item issue information provided by Customer for the Positive Pay Service, Customer shall supply Bank with the payee name(s) for each Item issued by Customer. Customer shall be responsible for the accuracy and completeness of the payee information provided to Bank. In reliance on the payee information provided by Customer, Bank will compare the payee information on the Item with Customer’s Check Issue File for Items presented or deposited at Bank. Customer acknowledges that Bank will not be able to validate payee information for handwritten or electronically converted Items presented to Bank for payment.
Appears in 4 contracts
Samples: Treasury Management Master Agreement, Treasury Management Master Agreement, Treasury Management Master Agreement
