Common use of Provisional Settlements Clause in Contracts

Provisional Settlements. YOUR STORE(s) acknowledges that all settlements between Check Center and YOUR STORE(s) are provisional and are subject to Check Center’s review of YOUR STORE(s)’ compliance with this Agreement, as well as the check writer’s rights to dispute the charges against the check writer’s account. YOUR STORE(s) acknowledges that Check Center has the right to receive payment on all checks processed by YOUR STORE(s). Further, YOUR STORE(s) will not attempt to collect on any such transactions. If any payment is tendered to YOUR STORE(s), YOUR STORE(s) will notify Check Center by telephone of the payment and immediately mail the payment to Check Center by overnight mail courier. Failure of YOUR STORE(s) to reimburse Check Center for such payments shall entitle Check Center to debit YOUR STORE(s)’ designated account or any other funds for the amount of said payment.