Common use of Returned Instruments Clause in Contracts

Returned Instruments. If an Instrument is returned unpaid, we may reverse the credit (and any interest paid on that credit) to your account. If the reversal of this credit involves a currency exchange, you agree that you will be responsible for any cost or loss associated with the currency exchange and we may charge this cost or loss to your account. We may send you notice of the returned Instrument the same way that we send your statements of account. Anyone we hire (such as a financial institution or courier) to effect the collection of the Instrument will be deemed your agent, not our subagent.

Returned Instruments. If an Instrument is returned unpaid, we may reverse the credit (and any interest paid on that credit) to your account. If the reversal of this credit involves a currency exchange, you agree that you will be responsible for any cost or loss associated with the currency exchange and we may charge this cost or loss to your account. You acknowledge that the exchange rate used may result in revenue being earned by us on the conversion. We may send you either notice of or the returned Instrument the same way that we send your statements of account. Anyone we hire (such as a financial institution or courier) to effect the collection of the Instrument will be deemed your agent, not our subagentsub agent.