Common use of Payment over Valid Stop Payment Order Clause in Contracts

Payment over Valid Stop Payment Order. If you believe that we have paid a check over a valid stop payment order, you may be required to provide us with evidence of our acceptance of a valid stop payment order and an affidavit describing in detail your loss resulting from the payment of the check; and, if applicable, further describing in detail your dispute with the payee. If it is subsequently determined that you were indebted to the payee for the exact amount of the check or less, you agree that we will have the right to debit your Account for the amount of the indebtedness.

Payment over Valid Stop Payment Order. If you believe that we have paid a check over a valid stop payment order, you may be required to provide us with evidence of our acceptance of a valid stop payment order and an affidavit describing in detail your loss resulting from the payment of the check; and, if applicable, further describing in detail your dispute with the payee. If it is subsequently determined determine that you were indebted to the payee for the exact amount of the check or less, you agree that we will have the right to debit your Account for the amount of the indebtedness.