Positive Pay Decisions. Online each morning, the Customer will need to review Exception Checks and make pay or return decisions. Decisions must be made by 12:30 PM central time. If decisions are not made by 12:30 PM central time, the Bank will pay or return Exceptions Checks in accordance with the default selection (return default or pay default) selected by Customer. In the event a check is rejected with a reason of "check outside of all ranges", a default to pay will not apply and each presented Check will be returned unless an explicit decision to pay is made by the Customer.
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Samples: Master Agreement for Treasury Management Services, Master Agreement, Master Agreement
Positive Pay Decisions. Online each morning, the Customer will need to review Exception Checks and make pay or return decisions. Decisions must be made by 12:30 PM central time. If decisions are not made by 12:30 PM central time, the Bank will pay or return Exceptions Checks in accordance with the default selection (return default or pay default) selected by Customer. In the event a check is rejected with a reason of "check outside of all ranges", a default to pay will not apply and each presented Check will be returned unless an explicit decision to pay is made by the Customer.
Appears in 1 contract
Positive Pay Decisions. Online each morning, the Customer will need to review Exception Checks and make pay or return decisions. Decisions must be made by 12:30 PM central time. If decisions are not made by 12:30 PM central time, the Bank will pay or return all Exceptions Checks in accordance with the default selection (return default or pay default) selected by Customer. In the event a check is rejected with a reason of "check outside of all ranges", a default to pay will not apply and each presented Check will be returned unless an explicit decision to pay is made by the CustomerChecks.
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