Positive Pay Services. Check Issue Report. You will submit a Check Issue Report to the Bank each day you issue checks on an Authorized Account through the Online Banking Service. The Check Issue Report shall accurately state the check number and the exact dollar amount of each check drawn on each Authorized Account since the last Check Issue Report was submitted. Payment of Presented Checks and Reporting of Exception Checks. The Bank will compare each Presented Check by check number and amount against each Check Issue Report received by the Bank. On each Business Day, the Bank: (a) may pay and charge to the Authorized Account each Presented Check that matches by check number and amount a check shown in any Check Issue Report; and (b) shall make available through the Online Banking Service by 8:00 AM Pacific Time an Exception Check List that indicates whether the Bank has received any Exception Checks and, if so, specifies the complete check number and amount of any such Exception Check. Payment of Exception Checks; Return Requests. The Bank will pay or return Exception Checks pursuant to your Pay/Return Request or pursuant to ONLY ONE of the following default selections: A Pay/Return Request shall identify each Exception Check that you desire us to pay or return by the complete check number and amount specified in the Exception Check List and shall instruct the Bank to pay or return the Exception Check. You must submit the Pay/Return Request to us via the Online Banking Service by 11:00 AM Pacific Time of the day the Bank makes the Exception Check List available. The Bank shall then charge to the Authorized Account or return to the depositary bank any Exception Check that you instruct us to pay or return. We will not be obligated to comply with any Pay/Return Request received in a format or medium, after a deadline, or in a manner not permitted under this Agreement but may instead treat such a Pay/Return Request as though it had not been received.
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. 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. 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. 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. If you are a Business Account customer you acknowledge that we offer Positive Pay services, which are designed to help prevent check fraud. You may request Positive Pay services by contacting us at 000-000-0000. If you fail to request or, if enabled, to utilize or follow the procedures required for those services, you will solely assume the full risk that items or ACHs presented against your Account may be forged or altered, to the extent that the services we offered may have prevented any loss. You understand and agree that should you decline to request Positive Pay services, implement the Positive Pay services incorrectly or if you fail to follow the required procedures for the Positive Pay services, you will be precluded from asserting any claims against us for paying any unauthorized, altered, counterfeit or other fraudulent item that the Positive Pay Service is designed to detect or deter, and we will not be required to re-credit your Account or otherwise have any liability for paying such items. This Section is not applicable to Personal Accounts.
Positive Pay Services. The Bank's positive pay services allow the Bank to compare items received for payment on the City's Positive Pay Account against the item issue listings that the City provides to the Bank (the City's “Issue List”). Any items received by the Bank and not matched against the Bank's Issue List will be considered “Exceptions.” On each banking day, the Bank will transmit a report of Exceptions to the City, which will list the serial number of each Exception and the amount for which it has been encoded. Copies of Exceptions will also be made available to the City from time to time on request. The City is responsible for the adequacy and accuracy of the City's Issue List and for providing the most current available version of the same to the Bank before the Bank's receipt of the items listed thereon. The City must notify the Bank the same day the Bank reports Exceptions to the City, by the designated deadline, which checks the Bank should pay or return. If the City fails to notify the Bank by the deadline, the Bank will handle the City's Exceptions as instructed in the City's setup documentation. Notification may be made by e-mail or other means acceptable to the Bank, and must identify the relevant item and the reason for refusal to pay. (The City understands that the Bank may return such items stamped “Stop Payment” unless the Bank chooses to use the reason for refusal to pay that the City supplies.) All items matching the City's Issue List will be considered properly payable and charged to the City's account and shall be deemed authorized by the City. The foregoing notification deadline also establishes the standard by which the City will be considered to have exercised reasonable promptness with regard to the daily report, which will be considered a statement of account under the Kansas Uniform Commercial Code. The Bank must follow the City's instructions with regard to paying items. So long as the Bank does so, the City agrees that the Bank will not be otherwise responsible for the authenticity or alteration of items, or for the presence or validity of signatures, dates, or amounts thereon. If any item is subsequently determined to have been irregular, the Bank will take any action reasonably requested by the City to enforce against prior parties whatever rights the City or the Bank may have against such prior parties. The Bank must process all items covered by positive pay services in good faith and with ordinary care in the circumstances. Procedures in pla...
Positive Pay Services. Issued Item File. The Customer shall submit an Issued Item File to the Bank.
