Common use of Safekeeping and Destruction of Checks Clause in Contracts

Safekeeping and Destruction of Checks. You bear sole responsibility for secure storage and destruction of original Checks and any copies of such Checks. You should retain the original paper Checks for only that amount of time (but no fewer than 7 days) that you deem necessary, based on: (a) the risk of fraudulent duplicate presentments of the original Check or any paper or electronic copy thereof, (b) the needs of your business, (c) any requirements of law or regulation affecting your business, and (d) potential claims by recipients of Substitute Checks (or Checks in electronic form) that they incurred a loss due to the receipt of a Substitute Check (or a Check in electronic form) instead of the original paper Check. We suggest that you keep the original paper Checks for no more than 45 days after you transmit them to us. After the end of your retention period, you will destroy (by shredding) the original Checks.

Safekeeping and Destruction of Checks. You bear sole responsibility for secure storage and destruction of original Checks and any copies of such Checks. You should retain the original paper Checks checks for only that amount of time (but no fewer than 7 days) that you deem necessary, based on: : (a) the risk of fraudulent duplicate presentments of the original Check or any paper or electronic copy thereof, (b) the needs of your business, (c) any requirements of law or regulation affecting your business, and (d) potential claims by recipients of Substitute Checks (or Checks in electronic form) that they incurred a loss due to the receipt of a Substitute Check (or a Check in electronic form) instead of the original paper Check. We suggest that you keep the original paper Checks for no more than 45 days after you transmit them to us. After the end of your retention period, you will destroy (by shredding) the original Checks.

Safekeeping and Destruction of Checks. You bear sole responsibility for secure storage and destruction of original Checks and any copies of such Checks. You should retain the original paper Checks checks for only that amount of time (but no fewer than 7 days) that you deem necessary, based on: (a) the risk of fraudulent duplicate presentments of the original Check or any paper or electronic copy thereof, (b) the needs of your business, (c) any requirements of law or regulation affecting your business, and (d) potential claims by recipients of Substitute Checks (or Checks in electronic form) that they incurred a loss due to the receipt of a Substitute Check (or a Check in electronic form) instead of the original paper Check. We suggest that you keep the original paper Checks for no more than 45 days after you transmit them to us. After the end of your retention period, you will destroy (by shredding) the original Checks.