Common use of Retention and Disposal of Transmitted Items Clause in Contracts

Retention and Disposal of Transmitted Items. Upon your receipt of confirmation from Peoples Bank that we have received the image of an item, you must retain the original of each item 15 business days from the date of transmission. You will xxxx each imaged item as "electronically presented" or "scanned" after it is transmitted to Peoples Bank. Upon request from Peoples Bank, you will promptly provide the retained item or a sufficient copy of the front and back of the item to Peoples Bank to aid in the clearing and collection process, to resolve claims by third parties with respect to any item, or for Peoples Bank’s audit purposes. After 15 business days you must destroy the transmitted items.

Retention and Disposal of Transmitted Items. Upon your receipt of confirmation from Peoples Bank that we have received the image of an item, you must retain the original of each item 15 business days from the date of transmission. You will xxxx mark each imaged item as "electronically presented" or "scanned" after it is transmitted to Peoples Bank. Upon request from Peoples Bank, you will promptly provide the retained item or a sufficient copy of the front and back of the item to Peoples Bank to aid in the clearing and collection process, to resolve claims by third parties with respect to any item, or for Peoples Bank’s audit purposes. After 15 business days you must destroy the transmitted items.