Positive Pay Services. You acknowledge that if You elect to receive payroll checks drawn upon the account of Ours (!Positive Paychecks”) rather than payroll checks drawn on Your own account, We shall not be obligated to provide You with Positive Paychecks unless and until We have entered into an agreement with You to provide Positive Pay as part of the Services. You agree that We shall have no further obligation to process Your payroll on Positive Paychecks at any time after the termination. You agree that if funds are not made available before the check date, We will delay the release of any of Your payroll, which is processed on Positive Paychecks and will thereafter release such Positive Paychecks for disbursement to You only after receipt of good and sufficient funds. You agree not to distribute any of Our checks to Payees prior to 4:00 p.m. local time on the banking date immediately before pay date. If You desire to stop payment on any of Our checks, You shall provide Us with a stop payment request form, or perform a prescribed action in BerniePortal. We shall then place a stop payment order with Our bank within 24 hours after Our receipt of such stop payment request. You shall not request We stop payment on any of Our checks that represents funds to which the applicable Payee is rightfully entitled. You agree to indemnify, defend and hold harmless Us and Our affiliates and Third-Party Service Providers and their successors and assigns from and against any liability whatsoever for stopping payment on any of Our checks requested by You and from and against all actions, suits, losses, claims, damages, charges, and expenses of every nature and character, including attorney fees, in any claims or suits arising by reason of stopping payment on said check, including claims made by a !holder in due course” of such check. You agree that We will not be liable for any damages to You or Your employees arising from any decision to withhold the release of Your payroll which is processed on Positive Paychecks and that We will not be held responsible for any error, omission, negligence, or bad faith on the part of Our bank, whether in connection with a notice to Us of insufficient or unavailable funds. Regardless of any such delay in the release of Positive Paychecks, You will still be obligated to pay Us for applicable payroll processing charges. If You receive Positive Paychecks, You shall indemnify and hold harmless Us from and against any loss liability, claim, damage or exposure aris...
Positive Pay Services. The processing of Check Issued Files and ACH Items (including but not limited to Exception Checks and ACH Exception Items) used to identify fraudulent checks and ACH items attempting to clear Authorized Account(s) enrolled under in this Agreement.
Positive Pay Services. If you are a commercial customer and choose to participate in our Positive Pay services, which are designed to help prevent check fraud, and you fail to utilize or follow the procedures required for those services, you will assume the risk that checks presented against your Account may be forged or altered, to the extent that the services we offered may have prevented any loss.
Positive Pay Services. If Customer elects to receive Positive Pay Services from Bank, Customer shall manually enter into, or import from Customer’s accounting system into, Bank’s online Cash Management System a file of checks issued each Business Day no later than 3:30 p.m. local time in New York, New York, or such time set forth in the User Guide, as amended from time to time. Bank or Bank’s third-party vendor will match all presented checks with at least the account number, serial number and dollar amount to determine if the check is valid and provide an electronic list of exceptions (the “Positive Pay Exception Report”) to Customer the following Business Day. Customer shall promptly review the Positive Pay Exception Report and provide a pay/no pay decision for all exceptions before the established Bank cutoff time of 2:00 p.m. local time in New York, New York, or such time set forth in the User Guide, as amended from time to time. In the event that Customer does not make a funding decision as to any exception item in the manner summarized above, Bank shall process the item based on the default decision selected by the customer, or Bank decision as policy may require. If there is a conflict in direction as to pay or not pay the item the item will be paid. Customer shall indemnify Bank against any loss, liability or expense (including attorneys’ fees and expenses) resulting from or arising out of Bank paying or returning any item as provided for in this Section II.C. This indemnification is in addition to any other indemnification rights that are provided for in this Agreement.
Positive Pay Services. The use of Internet Banking to reconcile items and to indicate to Bank whether checks presented against an Account should be paid or returned, pursuant to Bank’s Account Reconciliation Service Agreement.
Positive Pay Services. This Section 6 sets forth the terms and conditions under which the Bank will provide Positive Pay services ("Positive Pay") to Customer. Positive Pay compares check clearing data provided by you each day against checks presented to us for payment. All presented checks matching the check number and dollar amount identified by you in your Positive Pay File will be paid and charged against the appropriate Account. Any item presented to us for payment that does not strictly match the data you provided in a Positive Pay File will be identified either as an "Exception" or "Violation" and will be handled by us as follows:
Positive Pay Services. We may provide Positive Pay Services to assist you with preventing forgery/fraud against your account. Positive Pay is considered an added feature and maybe required under a separate agreement. The Positive Pay Service may also be subject to additional fees. As a user, you agree to provide a primary user and one or more sub-user to maintain timeliness file deliveries, accuracy of the information contained within and to accept email notifications from us advising of exception items to be reviewed in connection with the service. You agree to upload an issued check file in a format agreed upon at the time of setup. File shall be loaded on the day of issue or before if applicable, but in any case prior to check presentment. If a manual check is issued and not included in the file upload, you agree to manually add the item into the system at time of issue. The bank is under no obligation to contact you and may refuse to accept check (s) presented to us which may not be included in your list of outstanding items. You agree to provide online access to users with the authority to review and make the necessary decisions on all exceptions submitted to you by us and as they may occur. You agree to make decisions on the exception item(s) by either marking them as Pay or Return before the allowable cut-off time. You acknowledge the bank has the right but is under no obligation to return the item(s) as “Refer to Maker” if a decision is not made by you within the allotted time. The bank will not be liable for any checks paid against your account as fraudulent, forged or otherwise if the exception item has been submitted to you and no decision is made by you or your sub-users on its disposition. We reserve the right to change the cut-off time by giving you notice of the new cut-off time by electronic means or by any other means deemed appropriate. Online cut-off time is 11:00 a.m. Central Time.
Positive Pay Services. Bank will provide the Positive Pay Services for the Designated Accounts specified by Customer. On each Business Day, Customer agrees to provide Bank a Check Report or ACH transaction report (“Issue File”) by 6:00 p.m. Customer agrees to provide an Issue File before disbursing checks or ACH transactions to payees. Failure to send a Check Report prior to disbursement could result in checks or ACH transactions presented for payment that do not have a corresponding issue on file, thus these checks or ACH transactions will be treated as “exception items “ and be included in the Exception Report as “paid no issues” (PNI). There is a fee levied by Bank for every exception item reported. Bank shall compare each Presented check by check number and amount (as encoded) against all Check Reports received through that day. Bank shall compare each Presented ACH transaction to the identifying information for the ODFI or Receiver received from Customer. Bank shall (1) finally pay and charge to the applicable Designated Account all Presented Checks which match checks on the Check Reports as to check number and amount, provided that the Designated Account has sufficient Available Funds; and (2) unless service is disrupted or delayed for operational reasons, provide with an Exception Report by 7:00 a.m. on the following Business Day. Customer shall provide Bank with payment Instructions regarding the Exception Checks or Exception ACH items by 10:00 a.m. and must notify Bank of the return reason such as; forgery, invalid dollar amount, unauthorized transaction, or etc. on the same day. If Customer fails to meet this deadline, Customer authorizes and directs Bank to return the Exception Checks or Exception ACH transaction according to the default decision made by Customer on the Positive Pay Services Agreement. If Customer sends in payment Instructions after the deadline and would like a particular check or ACH transaction returned, Bank will attempt to honor the return but if the presenting bank fails to honor the return, Customer must reimburse Bank for the amount of the item and hold Bank harmless from any cost, suits, expenses, liabilities, damages and attorneys’ fees related to the return of the item.
Positive Pay Services. A. Definitions
Positive Pay Services. Customer may select Positive Pay Services for checks and shall note its selection on the Designation Form. If Customer elects to receive Positive Pay Services from Bank, Customer shall manually enter into, or import from Customer’s accounting system into, Bank’s Positive Pay System, or otherwise transmit to Bank, directly or through a third party acceptable to Bank, in accordance with procedures specified by Bank from time to time, a file of checks issued each Business Day no later than the Bank-established cut-off time for issued items. Bank or Bank’s third-party vendor will match all presented checks with the account number, serial number and dollar amount to determine if the check is valid and provide an electronic list of exceptions (the “Positive Pay Exception Report”) to Customer the following Business Day. Customer shall promptly, but by no later than 12:00 p.m. Mountain Time, review the Positive Pay Exception Report and provide a pay/no pay decision for all exceptions. In the event that Customer does not make a funding decision as to any exception item in the manner summarized above, Bank shall return the item, and Customer waives all right to dispute the non-payment of the item. ACH Positive Pay Services. Customer may select Positive Pay Services for ACH transactions and shall note its selection on the Designation Form. If Customer elects to receive ACH Positive Pay Services from Bank, Customer shall manually enter into, or import from Customer’s accounting system into, Bank’s Positive Pay System, or otherwise transmit to Bank, directly or through a third party acceptable to Bank, in accordance with procedures specified by Bank from time to time, companies authorized to debit and/or credit Customer’s deposit account, with transaction amount limitations and effective/expiration dates. Bank or Bank’s third-party vendor will run each ACH file to identify ACH transactions that are suspects based on the authorized company records as provided by Customer and will provide an electronic list of pending suspect transactions (the “ACH Positive Pay Suspect Entries”) to Customer on each Business Day. Customer shall promptly, but by no later than 12:00 p.m. Mountain Time on the business day following receipt of the ACH Positive Pay Suspect Transactions, review the ACH Positive Pay Suspect Entries and provide a pay/return decision for all suspect transactions. Customer may also elect to allow a suspect transaction to post by authorizing a company for future ACH...
