Receipt of File. Customer agrees that Customer shall remain liable for and that Bank shall not be accountable to Customer for a File and/or Item(s) that are not received by Bank and for a File and/or Item(s) that are intercepted or altered by an unauthorized third party. Customer agrees that Bank has no obligation to accept a File and therefore may reject any File or Images of Items submitted by Customer. Bank has no obligation to notify Customer of the rejection of a File or Images. Bank shall have no liability to Customer for rejection of a File or Image(s) or for failure to notify Customer of a rejection. Upon receipt of the File submitted by Customer, Bank may examine the File and the Images to ensure that Customer has followed the Procedures. If Customer has not followed the Procedures or if errors exist in the data or the Images contained in the File, Bank, in its sole discretion, may reject and not accept the entire File or Bank may elect to correct the error, accept and process the File (“Corrected File”). As a form of correction, Bank may credit Customer’s Account for the full amount of the deposit and make any necessary adjustments to correct the error. Bank, at its option may, but is not required to perform a risk management analysis of the File submitted by Customer to detect potentially fraudulent Items, and, in its sole discretion, reject the File or Image(s). (The risk management analysis is solely for Bank’s benefit. The deposit of a fraudulent item is at Customer’s sole risk.) If, after examination of the File and Images, Bank determines that Customer has processed and transmitted the File in accordance with the Procedures and this Agreement, the File is balanced, and the Images meet the requirements of this Agreement, then Bank may accept the File (“Acceptance”) for deposit to Customer’s Account. Notwithstanding the fact that Bank has accepted a File for deposit, any credit made to Customer’s account shall be provisional and Customer shall remain liable to Bank for any errors, inaccuracies, breach of warranties and any other loss sustained by or claim made against Bank on the part of any party. Bank reserves the right to refuse to process or reject any Imaged Items for any reason at its sole discretion.
Appears in 7 contracts
Samples: Hancock Whitney Bank, Master Agreement, Master Agreement
Receipt of File. Customer agrees that Customer shall remain be solely liable for for, and that Bank shall not be accountable have any liability whatsoever to Customer for a for, any File and/or Item(s) or the Images or other information contained therein that are not received by Bank and or for a any File and/or Item(s) or the Images or other information contained therein that are intercepted or altered by an unauthorized third party. Customer agrees that Bank has no obligation to accept a File and therefore and, therefore, may reject any File or the Images of Items or other information contained therein submitted by Customer. Bank has no obligation to notify Customer of the rejection of a File or Imagesthe Images or other information contained therein. Bank shall have no liability to Customer for the rejection of a File or Image(s) the Images or other information contained therein or for the failure to notify Customer of a such rejection. Upon receipt of the a File submitted by Customer, Bank may examine the such File and the Images and other information contained therein to ensure that Customer has complied with this Agreement and followed the RDC Procedures. If Bank determines that Customer has not complied with this Agreement or followed the Procedures or if errors exist in the data Images or the Images other information contained in the File, Bank, in its sole discretion, may either reject and not accept the entire File or Bank may elect to correct the error, error and accept and process the corrected File (“a "Corrected File”"). As a form of correction, Bank may credit Customer’s Account 's account for the full amount of the deposit and make any necessary adjustments to the account to correct the error. BankBank may, at its option mayoption, but is not required to also perform a risk management analysis of the File one or more Files submitted by Customer to detect potentially fraudulent ItemsChecks, and, in its sole discretion, Bank may reject the any such File or Image(s)the Images or other information contained therein. (The risk management analysis is solely for Bank’s benefit. The deposit of a fraudulent item is at Customer’s sole risk.) If, If after examination of the a File and Imagesthe Images and other information contained therein, Bank determines that Customer has complied with this Agreement and processed and transmitted the File in accordance herewith and with the Procedures and this AgreementRDC Procedures, the File is balanced, balanced and the Images meet the requirements of this Agreement, then Bank may shall accept the File (“Acceptance”an "Accepted File") for deposit to Customer’s Account's account. Notwithstanding the fact that Bank has accepted a File for deposit, any credit made to Customer’s 's account shall be provisional provisional, and Customer shall remain liable to Bank for any errors, inaccuracies, breach of warranties warranties, and any other loss sustained by by, or claim made against Bank on the part against, Bank. Provisional Credit and Availability of any party. Bank reserves the right to refuse to process or reject any Imaged Items for any reason at its sole discretion.Funds
Appears in 4 contracts
Samples: Lockbox Agreement, Online Banking Agreement, www.southernfirst.com
Receipt of File. Customer agrees that Customer shall remain liable for and that Bank shall not be accountable to Customer for a File and/or Item(sitem(s) that are not received by Bank and for a File and/or Item(sand or item(s) that are intercepted or altered by an unauthorized third party. To the maximum extent permitted by applicable law, Customer agrees that Bank has no obligation to accept a File and therefore may reject any File or Images images of Items items submitted by Customer. , and further, Bank has no obligation to notify Customer of the rejection of a File or Imagesimages. Bank shall have no liability to Customer for rejection of a File or Image(simage(s) or for failure to notify Customer of a rejection. Upon receipt of the File submitted by Customer, Bank may examine the File and the Images images to ensure that Customer has followed the Proceduresestablished remote deposit capture procedures. If Customer has not followed the Procedures Bank’s remote deposit capture procedures or if errors exist in the data or the Images images contained in the File, Bank, in its sole discretion, may reject and not accept the entire File or Bank may elect to correct the error, accept and process the File (“Corrected File”). As a form of correction, Bank may credit Customer’s Account account for the full amount of the deposit and make any necessary adjustments to correct the error. BankBank may, at its option mayoption, but is not required to also perform a risk management analysis of the File submitted by Customer to detect potentially fraudulent Itemsitems, and, in its sole discretion, reject the File or Image(simage(s). (The risk management analysis is solely for Bank’s benefit. The deposit of a fraudulent item is at Customer’s sole risk.) If, If after examination of the File and Imagesimages, Bank determines that Customer has processed and transmitted the File in accordance with this Agreement and the Procedures and this AgreementBank’s remote deposit capture procedures, the File is balanced, and the Images images meet the requirements of this Agreement, then Bank may shall accept the File (“Acceptance”) for deposit to Customer’s Accountdeposit account (an “Accepted File”). Upon acceptance of the File, Bank shall electronically notify Customer of receipt and acceptance of the File for deposit. Notwithstanding the fact that Bank has accepted a the File for deposit, any credit made to Customer’s account shall be provisional and Customer shall remain liable to Bank for any errors, inaccuracies, breach of warranties and any other loss sustained by or claim made against Bank on the part of any party. Bank reserves the right to refuse to process or reject any Imaged Items for any reason at its sole discretion.
Appears in 2 contracts
Samples: Master Treasury Management Services Agreement, Master Services Agreement
Receipt of File. Customer agrees that Customer shall remain liable for and that Bank shall not be accountable to Customer for a File and/or Item(s) that are not received by Bank and for a File and/or Item(s) that are intercepted or altered by an unauthorized third party. Customer agrees that Bank has no obligation to accept a File and therefore may reject any File or Images of Items submitted by Customer. Bank has no obligation to notify Customer of the rejection of a File or Imagesthe Images or other information contained therein. Bank shall have no liability to Customer for the rejection of a File or Image(s) the Images or other information contained therein or for the failure to notify Customer of a such rejection. Upon receipt of the a File submitted by Customer, Bank may examine the such File and the Images and other information contained therein to ensure that Customer has complied with this Agreement and followed the Procedures. If Bank determines that Customer has not complied with this Agreement or followed the Procedures or if errors exist in the data Images or the Images other information contained in the File, Bank, in its sole discretion, may either reject and not accept the entire File or Bank may elect to correct the error, error and accept and process the corrected File (a “Corrected File”). As a form of correction, Bank may credit Customer’s Account for the full amount of the deposit and make any necessary adjustments to the Account to correct the error. BankBank may, at its option mayoption, but is not required to also perform a risk management analysis of the File one or more Files submitted by Customer to detect potentially fraudulent ItemsChecks, and, in its sole discretion, Bank may reject the any such File or Image(s)the Images or other information contained therein. (The risk management analysis is solely for Bank’s benefit. The deposit of a fraudulent item is at Customer’s sole risk.) If, If after examination of the a File and Imagesthe Images and other information contained therein, Bank determines that Customer has complied with this Agreement and processed and transmitted the File in accordance herewith and with the Procedures and this AgreementProcedures, the File is balanced, balanced and the Images meet the requirements of this Agreement, then Bank may shall accept the File (an “AcceptanceAccepted File”) for deposit to Customer’s Account. Notwithstanding the fact that Bank has accepted a File for deposit, any credit made to Customer’s account Account shall be provisional provisional, and Customer shall remain liable to Bank for any errors, inaccuracies, breach of warranties and any other loss sustained by by, or claim made against Bank on the part against, Bank. Provisional Credit and Availability of any party. Bank reserves the right to refuse to process or reject any Imaged Items for any reason at its sole discretionFunds.
Appears in 1 contract
Receipt of File. Customer agrees that Customer shall remain be solely liable for for, and that Bank shall not be accountable have any liability whatsoever to Customer for a for, any File and/or Item(s) or the Images or other information contained therein that are not received by Bank and or for a any File and/or Item(s) or the Images or other information contained therein that are intercepted or altered by an unauthorized third party. Customer agrees that Bank has no obligation to accept a File and therefore and, therefore, may reject any File or the Images of Items or other information contained therein submitted by Customer. Bank has no obligation to notify Customer of the rejection of a File or Imagesthe Images or other information contained therein. Bank shall have no liability to Customer for the rejection of a File or Image(s) the Images or other information contained therein or for the failure to notify Customer of a such rejection. Upon receipt of the a File submitted by Customer, Bank may examine the such File and the Images and other information contained therein to ensure that Customer has complied with this Agreement and followed the ProceduresUser Manuals. If Bank determines that Customer has not complied with this Agreement or followed the Procedures User Manuals or if errors exist in the data Images or the Images other information contained in the File, Bank, in its sole discretion, may either reject and not accept the entire File or Bank may elect to correct the error, error and accept and process the corrected File (a “Corrected File”). As a form of correction, Bank may credit Customer’s Account for the full amount of the deposit and make any necessary adjustments to the Account to correct the error. BankBank may, at its option mayoption, but is not required to also perform a risk management analysis of the File one or more Files submitted by Customer to detect potentially fraudulent ItemsChecks, and, in its sole discretion, Bank may reject the any such File or Image(s)the Images or other information contained therein. (The risk management analysis is solely for Bank’s benefit. The deposit of a fraudulent item is at Customer’s sole risk.) If, If after examination of the a File and Imagesthe Images and other information contained therein, Bank determines that Customer has complied with this Agreement and processed and transmitted the File in accordance herewith and with the Procedures and this AgreementUser Manuals, the File is balanced, balanced and the Images meet the requirements of Part II, Section A.4 of this Agreement, then Bank may shall accept the File (an “AcceptanceAccepted File”) for deposit to Customer’s Account. Upon acceptance of the File, Bank shall electronicallynotify Customer of receipt and acceptance of the Accepted File for deposit. Notwithstanding the fact that Bank has accepted a File for deposit, any credit made to Customer’s account Account shall be provisional provisional, and Customer shall remain liable to Bank for any errors, inaccuracies, breach of warranties and any other loss sustained by by, or claim made against Bank on against, Bank. On a daily basis, Customer will review all input and output, controls, reports, email messages, and documentation, to ensure the part integrity of data processed by Bank. On a periodic basis, Customer will also check exception reports provided in the Merchant Portal to verify that all batch maintenance entries and non-dollar transactions were correctly entered. Customer is responsible for initiating timely remedial action to correct any party. Bank reserves the right to refuse to process or reject any Imaged Items for any reason at its sole discretionimproperly processed data which these reviews would disclose.
Appears in 1 contract
Samples: Alpineremote ® Agreement
Receipt of File. Customer agrees that Customer shall remain be solely liable for for, and that Bank shall not be accountable have any liability whatsoever to Customer for a for, any File and/or Item(s) or the Images or other information contained therein that are not received by Bank and or for a any File and/or Item(s) or the Images or other information contained therein that are intercepted or altered by an unauthorized third party. Customer agrees that Bank has no obligation to accept a File and therefore and, therefore, may reject any File or the Images of Items or other information contained therein submitted by Customer. Bank has no obligation to notify Customer of the rejection of a File or Imagesthe Images or other information contained therein. Bank shall have no liability to Customer for the rejection of a File or Image(s) the Images or other information contained therein or for the failure to notify Customer of a such rejection. Upon receipt of the a File submitted by Customer, Bank may examine the such File and the Images and other information contained therein to ensure that Customer has complied with this Section Four and followed the Procedures. If Bank determines that Customer has not complied with this Section Four or followed the Procedures or if errors exist in the data Images or the Images other information contained in the File, Bank, in its sole discretion, may either reject and not accept the entire File or Bank may elect to correct the error, error and accept and process the corrected File (a “Corrected File”). As a form of correction, Bank may credit Customer’s Designated Account for the full amount of the deposit and make any necessary adjustments to the Designated Account to correct the error. BankBank may, at its option mayoption, but is not required to also perform a risk management analysis of the File one or more Files submitted by Customer to detect potentially fraudulent ItemsChecks, and, in its sole discretion, Bank may reject the any such File or Image(s)the Images or other information contained therein. (The risk management analysis is solely for Bank’s benefit. The deposit of a fraudulent item is at Customer’s sole risk.) If, If after examination of the a File and Imagesthe Images and other information contained therein, Bank determines that Customer has complied with this Section Four and processed and transmitted the File in accordance herewith and with the Procedures and this AgreementProcedures, the File is balanced, balanced and the Images meet the requirements of this AgreementPart II, subsection 4.5, then Bank may shall accept the File (an “AcceptanceAccepted File”) for deposit to Customer’s Designated Account. Upon acceptance of the File, Bank shall electronically notify Customer of receipt and acceptance of the Accepted File for deposit. Notwithstanding the fact that Bank has accepted a File for deposit, any credit made to Customer’s account Designated Account shall be provisional provisional, and Customer shall remain liable to Bank for any errors, inaccuracies, breach of warranties and any other loss sustained by by, or claim made against Bank on the part of any party. Bank reserves the right to refuse to process or reject any Imaged Items for any reason at its sole discretionBank.
Appears in 1 contract
Samples: Treasury Management Agreement
Receipt of File. Customer agrees that Customer shall remain be solely liable for for, and that Bank shall not be accountable have any liability whatsoever to Customer for a for, any File and/or Item(s) or the Images or other information contained therein that are not received by Bank and or for a any File and/or Item(s) or the Images or other information contained therein that are intercepted or altered by an unauthorized third party. Customer agrees that Bank has no obligation to accept a File and therefore and, therefore, may reject any File or the Images of Items or other information contained therein submitted by Customer. Bank has no obligation to notify Customer of the rejection of a File or Imagesthe Images or other information contained therein. Bank shall have no liability to Customer for the rejection of a File or Image(s) the Images or other information contained therein or for the failure to notify Customer of a such rejection. Upon receipt of the a File submitted by Customer, Bank may examine the such File and the Images and other information contained therein to ensure that Customer has complied with this Agreement and followed the ProceduresUser Manual. If Bank determines that Customer has not complied with this Agreement or followed the Procedures User Manual or if errors exist in the data Images or the Images other information contained in the File, Bank, in its sole discretion, may either reject and not accept the entire File or Bank may elect to correct the error, error and accept and process the corrected File (a “Corrected File”). As a form of correction, Bank may credit Customer’s Account for the full amount of the deposit and make any necessary adjustments to the Account to correct the error. BankBank may, at its option mayoption, but is not required to also perform a risk management analysis of the File one or more Files submitted by Customer to detect potentially fraudulent Itemschecks, and, in its sole discretion, Bank may reject the any such File or Image(s)the Images or other information contained therein. (The risk management analysis is solely for Bank’s benefit. The deposit of a fraudulent item is at Customer’s sole risk.) If, If after examination of the a File and Imagesthe Images and other information contained therein, Bank determines that Customer has complied with this Agreement and processed and transmitted the File in accordance herewith and with the Procedures and this AgreementUser Manual, the File is balanced, balanced and the Images meet the requirements of Part II, Section A.4 of this Agreement, then Bank may shall accept the File (an “AcceptanceAccepted File”) for deposit to Customer’s Account. Upon acceptance of the File, Bank shall electronically notify Customer of receipt and acceptance of the Accepted File for deposit. Notwithstanding the fact that Bank has accepted a File for deposit, any credit made to Customer’s account Account shall be provisional provisional, and Customer shall remain liable to Bank for any errors, inaccuracies, breach of warranties and any other loss sustained by by, or claim made against Bank on against, Bank. On a daily basis, Customer will review all input and output, controls, reports, email messages, and documentation, to ensure the part integrity of data processed by Bank. On a periodic basis, Customer will also check exception reports provided in the Bank’s Merchant Portal to verify that all batch maintenance entries and non-dollar transactions were correctly entered. Customer is responsible for initiating timely remedial action to correct any party. Bank reserves the right to refuse to process or reject any Imaged Items for any reason at its sole discretionimproperly processed data which these reviews would disclose.
Appears in 1 contract
Samples: Alpineremote ® Agreement
Receipt of File. Customer agrees that Customer shall remain be solely liable for for, and that Bank shall not be accountable have any liability whatsoever to Customer for a for, any File and/or Item(s) or the Images or other information contained therein that are not received by Bank and or for a any File and/or Item(s) or the Images or other information contained therein that are intercepted or altered by an unauthorized third party. Customer agrees that Bank has no obligation to accept a File and therefore and, therefore, may reject any File or the Images of Items or other information contained therein submitted by Customer. Bank has no obligation to notify Customer of the rejection of a File or Imagesthe Images or other information contained therein. Bank shall have no liability to Customer for the rejection of a File or Image(s) the Images or other information contained therein or for the failure to notify Customer of a such rejection. Upon receipt of the a File submitted by Customer, Bank may examine the such File and the Images and other information contained therein to ensure that Customer has complied with this Agreement and followed the ProceduresUser Manual. If Bank determines that Customer has not complied with this Agreement or followed the Procedures User Manual or if errors exist in the data Images or the Images other information contained in the File, Bank, in its sole discretion, may either reject and not accept the entire File or Bank may elect to correct the error, error and accept and process the corrected File (a “Corrected File”). As a form of correction, Bank may credit Customer’s Account for the full amount of the deposit and make any necessary adjustments to the Account to correct the error. BankBank may, at its option mayoption, but is not required to also perform a risk management analysis of the File one or more Files submitted by Customer to detect potentially fraudulent Itemschecks, and, in its sole discretion, Bank may reject the any such File or Image(s)the Images or other information contained therein. (The risk management analysis is solely for Bank’s benefit. The deposit of a fraudulent item is at Customer’s sole risk.) If, If after examination of the a File and Imagesthe Images and other information contained therein, Bank determines that Customer has complied with this Agreement and processed and transmitted the File in accordance herewith and with the Procedures and this AgreementUser Manual, the File is balanced, balanced and the Images meet the requirements of Part II, Section A.4 of this Agreement, then Bank may shall accept the File (an “AcceptanceAccepted File”) for deposit to Customer’s Account. Upon acceptance of the File, Bank shall electronically notify Customer of receipt and acceptance of the Accepted File for deposit. Notwithstanding the fact that Bank has accepted a File for deposit, any credit made to Customer’s account Account shall be provisional provisional, and Customer shall remain liable to Bank for any errors, inaccuracies, breach of warranties and any other loss sustained by by, or claim made against Bank on against, Bank. On a daily basis, Customer will review all input and output, controls, reports, email messages, and documentation, to ensure the part integrity of data processed by Bank. On a periodic basis, Customer will also check exception reports provided in the Bank’s Merchant Portal to verify that all batch maintenance entries and non- dollar transactions were correctly entered. Customer is responsible for initiating timely remedial action to correct any party. Bank reserves the right to refuse to process or reject any Imaged Items for any reason at its sole discretionimproperly processed data which these reviews would disclose.
Appears in 1 contract
Samples: www.alpinebank.com
Receipt of File. Customer Client agrees that Customer Client shall remain liable for and that Bank shall not be accountable to Customer Client for a File and/or Item(s) that are not received by Bank and for a File and/or and or Item(s) that are intercepted or altered by an unauthorized third party. Customer Client agrees that Bank has no obligation to accept a File and/or Item(s) and therefore may reject any File or Images Images(s) of Items Item(s) submitted by CustomerClient. Bank has no obligation to notify Customer Client of the rejection of a File or ImagesImage(s) but will make reasonable efforts to do so. Bank shall have no liability to Customer Client for rejection of a File or Image(s) or for failure to notify Customer Client of a rejection. Client assumes sole responsibility for providing Bank with complete and accurate information in the form and format that Bank requires. Upon receipt of the File and/or Image submitted by CustomerClient, Bank may may, , examine the File and and/or the Images Image(s) to ensure that Customer Client has followed the established Procedures. If Customer Client has not followed the Procedures or if errors exist in the data or the Images Image(s) contained in the File, Bank, in its sole discretion, may reject and not accept the entire File and/or Item(s) or Bank may elect to correct the error, accept and process the File (“Corrected File”) and/or Item(s). As a form of correction, Bank may credit CustomerClient’s Account for the full amount of the deposit and make any necessary adjustments to correct the error. BankBank may, at its option mayoption, but is not required to also perform a risk management analysis of the File and/or Item(s) submitted by Customer Client to detect potentially fraudulent Items, and, in its sole discretion, reject the File or Image(s). (The risk management analysis is solely for Bank’s benefit. The deposit of a fraudulent item is at Customer’s sole risk.) If, If after examination of the File and ImagesImage(s), Bank determines that Customer Client has processed and transmitted the File in accordance with the Procedures and this AgreementProcedures, the File is balanced, and the Images Image(s) meet the requirements of Section 6 of this Agreement, then Bank may shall accept the File (“AcceptanceAccepted File”) and/or Item(s) for deposit to CustomerClient’s Account. Upon acceptance of the File, Bank shall electronically notify Client of receipt and acceptance of the File and/or Item(s) for deposit. Notwithstanding the fact that Bank has accepted a File the file for deposit, any credit made to CustomerClient’s account shall be provisional and Customer Client shall remain liable to Bank for any errors, inaccuracies, breach of warranties and any other loss sustained by or claim made against Bank on the part of any party. Bank reserves Client acknowledges that it is not possible for the right Remote Deposit Services to refuse be totally free from operator, programming or equipment error, and that errors in processing and compiling data may occasionally occur (e.g., due to process failure of others to provide accurate information or reject any Imaged Items telecommunication failures). As such, Client agrees to review and verify all results and to maintain adequate controls for ensuring both the accuracy of data transmissions and the detection of errors. Unless otherwise required by law, Bank’s sole responsibility for any reason reporting errors caused by Bank will be to reprocess the information for the period in question and to provide corrected reports at its sole discretionBank’s own expense. Client agree to maintain adequate backup files of the data Client submits for a reasonable period of time in order to facilitate any needed reconstruction of Client’s transactions. If Bank is unable to provide the Remote Deposit Services for any reason, Bank will promptly inform Client of the problem and will take reasonable steps to resume processing.
Appears in 1 contract
Samples: Deposit Services Agreement
Receipt of File. The Customer agrees that the Customer shall remain liable for and that the Bank shall not be accountable to the Customer for a File and/or Item(s) that are not received by the Bank and for a File and/or and or Item(s) that are intercepted or altered by an unauthorized third party. To the maximum extent permitted by applicable law, the Customer agrees that the Bank has no obligation to accept a File and therefore may reject any File or Images of Items submitted by the Customer. , and further, the Bank has no obligation to notify the Customer of the rejection of a File or Images. The Bank shall have no liability to the Customer for rejection of a File or Image(s) or for failure to notify the Customer of a rejection. Upon receipt of the File submitted by the Customer, the Bank may examine the File and the Images to ensure that Customer has followed the ProceduresImages. If Customer has not followed the Procedures or if errors exist in the data or the Images contained in the File, the Bank, in its sole discretion, may reject and not accept the entire File or the Bank may elect to correct the error, accept and process the File (“Corrected File”). As a form of correction, the Bank may credit the Customer’s Account account for the full amount of the deposit and make any necessary adjustments to correct the error. BankThe Bank may, at its option mayoption, but is not required to also perform a risk management analysis of the File submitted by the Customer to detect potentially fraudulent Items, and, in its sole discretion, reject the File or Image(s). (The risk management analysis is solely for Bank’s benefit. The deposit of a fraudulent item is at Customer’s sole risk.) If, If after examination of the File and Images, the Bank determines that the Customer has processed and transmitted the File in accordance with the Procedures and this AgreementFile, the File is balanced, and the Images meet the requirements of this RDC Services Schedule to the Agreement, then the Bank may shall accept the File (“AcceptanceAccepted File”) for deposit to the Customer’s Accountdeposit account. Notwithstanding the fact that the Bank has accepted a the File for deposit, any credit made to the Customer’s account shall be provisional and the Customer shall remain liable to the Bank for any errors, inaccuracies, breach of warranties and any other loss sustained by or claim made against the Bank on the part of any party. PROVISIONAL CREDIT AND AVAILABILITY OF FUNDS. Upon acceptance of the File, the Bank reserves shall grant the right Customer’s Account Provisional Credit, defined below, for the total amount of the Corrected File or the Accepted File. “Provisional Credit” means that the credit is made to refuse the Customer’s account subject to process or reject any Imaged final payment of the Items and subject to the terms of the Deposit Account Agreement. For the purpose of determining availability of funds, the Bank may hold funds for any reason at its sole discretionthe period of time permitted by Reg. CC.
Appears in 1 contract
Samples: Business Banking Services Agreement
Receipt of File. The Customer agrees that the Customer shall remain liable for and that the Bank shall not be accountable to the Customer for a File and/or Item(s) that are not received by the Bank and for a File and/or and or Item(s) that are intercepted or altered by an unauthorized third party. To the maximum extent permitted by applicable law, the Customer agrees that the Bank has no obligation to accept a File and therefore may reject any File or Images of Items submitted by the Customer. , and further, the Bank has no obligation to notify the Customer of the rejection of a File or Images. The Bank shall have no liability to the Customer for rejection of a File or Image(s) or for failure to notify the Customer of a rejection. Upon receipt of the File submitted by the Customer, the Bank may examine the File and the Images to ensure that Customer has followed the ProceduresImages. If Customer has not followed the Procedures or if errors exist in the data or the Images contained in the File, the Bank, in its sole discretion, may reject and not accept the entire File or the Bank may elect to correct the error, accept and process the File (“Corrected File”). As a form of correction, the Bank may credit the Customer’s Account account for the full amount of the deposit and make any necessary adjustments to correct the error. BankThe Bank may, at its option mayoption, but is not required to also perform a risk management analysis of the File submitted by the Customer to detect potentially fraudulent Items, and, in its sole discretion, reject the File or Image(s). (The risk management analysis is solely for Bank’s benefit. The deposit of a fraudulent item is at Customer’s sole risk.) If, If after examination of the File and Images, the Bank determines that the Customer has processed and transmitted the File in accordance with the Procedures and this AgreementFile, the File is balanced, and the Images meet the requirements of this RDC Services Schedule to the Agreement, then the Bank may shall accept the File (“AcceptanceAccepted File”) for deposit to the Customer’s Accountdeposit account. Notwithstanding the fact that the Bank has accepted a the File for deposit, any credit made to the Customer’s account shall be provisional and the Customer shall remain liable to the Bank for any errors, inaccuracies, breach of warranties and any other loss sustained by or claim made against the Bank on the part of any party. PROVISIONAL CREDIT AND AVAILABILITY OF FUNDS. Upon acceptance of the File, the Bank reserves shall grant the right Customer’s Account Provisional Credit, defined below, for the total amount of the Corrected File or the Accepted File. “Provisional Credit” means that the credit is made to refuse the Customer’s account subject to process or reject any Imaged final payment of the Items and subject to the terms of the Deposit Account Agreement. For the purpose of determining availability of funds, the Bank may hold funds for any reason at its sole discretionthe period of time permitted by Xxx. CC.
Appears in 1 contract
Samples: Business Banking Services Agreement