Common use of Returned Checks and Credit Clause in Contracts

Returned Checks and Credit. Card Rejection. Tenant agrees to pay a service charge of $40.00 if a financial institution returns a check for any reason. Tenant must replace the returned check with a cashier's check or money order in the amount of the returned check plus the service charge and University late charge. If the financial institution returns Tenant's check or denies Tenant’s credit card more than once, University may serve thirty (30) days' written notice that all future rent be paid with a certified check or money order. Prior to the rent due date, it is Tenant's responsibility to notify Housing Services of a stolen or expired credit card that is registered in the Auto-Pay program, and provide Housing Services with the new, active credit card account information.