Common use of Third-Party Checks Clause in Contracts

Third-Party Checks. A third party check is defined as a check endorsed by its payee to another entity who becomes its holder. The Credit Union reserves the right not to cash or deposit any third party checks for which you are the holder unless all the signers are present and their signatures can be verified with a valid form of identification. The Credit Union may cash or deposit third party checks for you as a guardian for a minor and that minor is the payee.

Third-Party Checks. A third party check is defined as a check endorsed by its payee to another entity who becomes its holder. The Credit Union reserves the right not to cash or deposit any third party checks for which you are the holder unless all the signers are present and their signatures can be verified with a valid form of identification. The Credit Union may cash or deposit third party checks for you as a guardian for a minor and that minor is the payeethepayee.