Common use of Your Responsibility to Examine the Statement for Errors and Fraud Clause in Contracts

Your Responsibility to Examine the Statement for Errors and Fraud. It is your responsibility to examine every statement and notify us of any and all unauthorized transactions, errors or irregularities as soon as possible. We may require you to confirm your notification in writing and assist us in addressing the transaction, error or problem. You are responsible for any altered, forged, unauthorized or unsigned check, draft or item drawn on your account if: (1) you do not notify us within thirty-one (31) calendar days of the mailing or electronically posting of the statement containing the notice of any altered, forged, unauthorized or unsigned check, draft or item, or (2) any check, draft or item where the alteration or forgery has occurred in such a manner that it would be undetectable by an ordinary person, which includes the unauthorized use of facsimile signatures. You assume this liability because you, as the owner of the account and drawer of the check, draft or item are in best position detect any altered, forged, unauthorized signature or unsigned check, draft or item drawn on your account. As explained in Provision 6, you can determine an unauthorized amount because the amount on the statement does not match the amount you recorded on your check register. Similarly, you can detect forged drawer’s signature on checks or counterfeit checks because there is a check number on your statement for a check that you did not write. Only you will know the checks, drafts or items that you have authorized as well as the amount you authorized, and can compare the information provided on your statement with your register or own records. You further agree that our retention of your checks, drafts or items does not affect your responsibility to examine your statements and notify us of any and all unauthorized transactions, errors or irregularities within the time limits provided in this agreement or as otherwise required. As explained in our Electronic Funds Transfer disclosures (that follow), if your statement shows EFTs that you did not make, you must notify us within sixty (60) days after the statement was mailed to you to avoid responsibility for unauthorized EFTs.

Your Responsibility to Examine the Statement for Errors and Fraud. It is your responsibility to examine every statement and notify us of any and all unauthorized transactions, errors or irregularities as soon as possible. We may require you to confirm your notification in writing and assist us in addressing the transaction, error or problem. You are responsible for any altered, forged, unauthorized or unsigned check, draft or item drawn on your account if: (1) . you do not notify us within thirty-one (31) calendar days of the mailing or electronically posting of the statement containing the notice of any altered, forged, unauthorized or unsigned check, draft or item, or (2) . any check, draft or item where the alteration or forgery has occurred in such a manner that it would be undetectable by an ordinary a reasonable person, which includes the unauthorized use of facsimile signatures. You assume this liability because you, as the owner of the account and drawer of the check, draft or item are in the best position to detect any altered, forged, unauthorized signature or unsigned check, draft or item drawn on your account. As explained in Provision 6, you can determine an unauthorized amount because the amount on the statement does not match the amount you recorded on your check register. Similarly, you can detect forged drawer’s signature on checks or counterfeit checks because there is a check number on your statement for a check that you did not write. Only you will know the checks, drafts or items that you have authorized as well as the amount you authorized, and can compare the information provided on your statement with your register or own records. You further agree that our retention of your checks, drafts or items does not affect your responsibility to examine your statements and notify us of any and all unauthorized transactions, errors or irregularities within the time limits provided in this agreement or as otherwise required. As explained in our Electronic Funds Transfer disclosures (that follow), if your statement shows EFTs that you did not make, you must notify us within sixty (60) days after the statement was mailed to you to avoid responsibility for unauthorized EFTs.