Storage and Destruction of Original Checks Sample Clauses

Storage and Destruction of Original Checks. You will be fully responsible for the secured storage and destruction of the Checks. You agree to use commercially reasonable method(s) to destroy original Checks after the required Retention Period has expired. You agree to destroy and dispose of the original Checks with a high degree of care, including selecting and implementing appropriate destruction and disposal procedures. You are required to implement such procedures to ensure that the original Checks are not accessed by unauthorized persons during the storage, destruction and disposal process and, once destroyed, the original Checks are no longer readable or capable of being reconstructed (e.g., through the use of competent shredding equipment). The risk of loss associated with the accidental inclusion of a physical Check in the Check collection process or with a lost, destroyed, stolen or misplaced Check shall be exclusively on the Member.

Storage and Destruction of Original Checks. Upon your receipt of a confirmation from the Credit Union that we have received the image of an item, you agree to prominently mark the item as "Electronically Presented" or "VOID" or properly dispose of the item to ensure that it is not represented for payment more than once. You will promptly provide any retained item, or a sufficient copy of the front and back of the item, to the Credit Union as requested to aid in the clearing and collection process, to resolve claims by third parties with respect to any item, or for the Credit Union’s audit purposes.

Storage and Destruction of Original Checks. After transmitting Check images to us for deposit, you will maintain the original Checks in a secure, controlled access location for at least thirty (30) calendar days after you have confirmed our receipt of the Check image and will retain them for such longer period only as reasonably necessary for your business purposes and in accordance with your record retention requirements. After the expiration of the 30-day period, or longer applicable period, you will destroy the Checks using a shredding device or other secure disposal mechanism. During the period that you maintain the original Checks, you understand and agree that you must use a high degree of care to protect the original Checks against security risks, including, without limitation, theft or reproduction of the original Checks (by employees or non-employees) and unauthorized use of information derived from the original Checks. You will establish and use procedures designed to ensure that the original Checks are not accessed by unauthorized persons during the destruction or disposal process and that, once destroyed, the original Checks are no longer readable or capable of being reconstructed. You acknowledge that in addition to any other damages we may be entitled to collect from you under this Service Agreement or the laws and rules applicable to the RDC Service, we will be entitled to consequential damages as permitted by law for your breach of your obligations to securely safekeep and destroy the original Checks that you deposit using the RDC Service.

Storage and Destruction of Original Checks. Please keep your paper check for 7 days after the deposit is submitted. Upon receipt of a confirmation that we have received and processed the image of an item, you agree to prominently mark the item as “Electronically Presented” or “VOID” or properly dispose of the item to ensure that it is not represented for payment. And, you agree never to represent the item. You will promptly provide any retained item, or a sufficient copy of the front and back of the item, to Sovereign Bank as requested to aid in the clearing and collection process, to resolve claims by third parties with respect to any item, or for audit purposes. You agree to notify Sovereign Bank of any suspected errors regarding items deposited through the Services right away, and in no event later than 60 days after the applicable account statement is sent. Unless you notify Sovereign Bank within 60 days, such state- ment regarding all deposits made through the Services shall be deemed correct, and you are prohibited from bringing a claim against Sovereign Bank for such alleged error.

Storage and Destruction of Original Checks. Upon receipt of confirmation that we have accepted an Image of an original Check, you understand and agree that you will retain possession of the original Check for a period of 30 calendar days, during which time you will ensure the safety and integrity of the original Check. You understand and agree that, at the expiration of this 30-calendar day period, you MUST mark the original check “VOID,” then destroy the Check via commercially acceptable means of destruction, including cross-cut shredding, burning, or pulverizing the original Check, after which the Image will be the only evidence of the original Check. You understand and agree that it is your responsibility to establish and maintain appropriate procedures and controls to safeguard the original Check and to prevent any further use. You agree that you will notify us IMMEDIATELY if you learn of the loss or theft of an original Check, an Image of which was transmitted via Mobile Deposit for deposit to an Account. You understand and agree that during such time as you retain the original Check, we may require you to make the original Check available to us within 5 calendar days, at your expense. You further agree that if you fail to provide the original Check to us within 5 calendar days, we may reverse the deposit made to the Account, and that you will be responsible for any loss incurred to you, the Account owner, or us as a result of such reversal. You understand and agree that once an Image of a Check has been transmitted via Mobile Deposit, the original Check may never again be used for any purpose, particularly for deposit. Any violation of this provision may result in immediate termination of your access to Mobile Deposit, and the recovery of any loss incurred by HFDFCU for any violation of this provision will be pursued by any collection means available to us.