Common use of RECORDS AND CHEQUE IMAGING Clause in Contracts

RECORDS AND CHEQUE IMAGING. The Credit Union will determine, in its sole discretion, whether cheques and other items will be returned to the Depositor with the statement of account for the Account. If the Credit Union implements an imaging program, the Credit Union will determine, in its sole discretion, whether copies of images of cheques and other items will be provided for the statement of account for the Account. The Depositor acknowledges that copies of images of cheques and other items may be provided before the Credit Union has determined whether the cheque or other item will be honoured or accepted and agrees that copies of images of cheques and other items are made available by the Credit Union as a service to the Depositor and that the provision of copies of images of cheques and other items does not mean that the Transaction has been processed or in any way oblige the Credit Union to honour or accept the cheque or other item. The Depositor acknowledges that if the Credit Union adopts an imaging program, the physical cheques and other items may be destroyed. If the Credit Union has implemented an imaging program and determines not to include copies of images of cheques and other items with the statement of account for the Account, the Credit Union will ensure that copies of images can be made available to the Depositor upon request for at least five years following the date of the statement of account for the Account on which the cheque or other item appears, subject to payment of the service charges established by the Credit Union from time to time.

RECORDS AND CHEQUE IMAGING. The Credit Union will determine, in its sole discretion, whether cheques and other items will be returned to the Depositor Trustee with the statement of account for the Account. If the Credit Union implements an imaging program, the Credit Union will determine, in its sole discretion, whether copies of images of cheques and other items will be provided for the statement of account for the Account. The Depositor Trustee acknowledges that copies of images of cheques and other items may be provided before the Credit Union has determined whether the cheque or other item will be honoured or accepted and agrees that copies of images of cheques and other items are made available by the Credit Union as a service to the Depositor Trustee and that the provision of copies of images of cheques and other items does not mean that the Transaction has been processed or in any way oblige the Credit Union to honour or accept the cheque or other item. The Depositor Trustee acknowledges that if the Credit Union adopts an imaging program, the physical cheques and other items may be destroyed. If the Credit Union has implemented an imaging program and determines not to include copies of images of cheques and other items with the statement of account for the Account, the Credit Union will ensure that copies of images can be made available to the Depositor Trustee upon request for at least five years following the date of the statement of account for the Account on which the cheque or other item appears, subject to payment of the service charges established by the Credit Union from time to time.