Common use of Postdated Checks Clause in Contracts

Postdated Checks. If the date written on a check is later than the date the check was issued, the check is called “postdated.” We will not look to see if a check is postdated when we determine whether or not to pay the check. We have the right to charge against your account any payment we make on a postdated check before the date on the check, unless you have given us notice of the postdated check. The notice must describe the check with reasonable certainty (must include date, check number, amount of check and payee). If the notice does not do so, or if we do not have a reasonable opportunity to act on the notice, we will not be liable if we pay the check before the date on the check or if such payment causes other checks to be returned for insufficient funds. A notice of a postdated check will never be good beyond the date on the check. An oral notice of a postdated check is good for no longer than 14 (fourteen) days unless we receive written confirmation from you within that time. A written notice of a postdated check is good for no longer than 6 (six) months. Any renewal of a notice of a postdated check will be good for an additional 6 (six) months. If you request that we do not pay a postdated check prior to the date of the check, we may charge you the fees listed, if any, in our Business Schedule of Charges.

Postdated Checks. If the date written on a check is later than the date the check was issued, the check is called “postdated.” We will not look to see if a check is postdated when we determine whether or not to pay the check. We have the right to charge against your account any payment we make on a postdated check before the date on the check, unless you have given us notice of the postdated check. The notice must describe the check with reasonable certainty (must include date, check number, amount of check and payee)certainty. If the notice does not do so, or if we do not have a reasonable opportunity to act on the notice, we will not be liable if we pay the check before the date on the check or if such payment causes other checks to be returned for insufficient funds. A notice of a postdated check will never be good beyond the date on of the check. An oral notice of a postdated check is good for no longer than 14 (fourteen) days unless we receive written confirmation from you within that time. A written notice of a postdated check is good for no longer than 6 (six) months, but you may renew it by a written notice which we receive before it expires. Any renewal of a notice of a postdated check will be is good for an additional 6 (six) months. If you request that we do not pay a postdated check prior to the date of the check, we may charge you the fees listed, if any, in our Business Schedule of Charges.