Common use of Third-Party Checks Clause in Contracts

Third-Party Checks. Third-party checks deposited through Mobile Deposit may be rejected. All Check Images submitted for deposit must be payable to you and not to a third-party. In the event a third-party Check Image is received, a Substitute Check will be returned to you through the U.S. Postal Service mail and the deposit will be not be processed. Neither Platform nor the Bank will be liable for any Substitute Checks that may become lost in the mail. Both Platform and the Bank reserve the right to reject a Mobile Deposit if it is made payable to the Bank and contains no means to identify the Account to which it should be credited.