Cash Vault Services definition
Examples of Cash Vault Services in a sentence
Cash Vault Services (the "Service") allows clients to have cash and non-cash deposits delivered to F&M's cash vault for processing.
The Customer shall pay the Bank the charges for Cash Vault Services pursuant to the terms and conditions set forth in section 1.3, “Compensation,” of the Terms.
Customer shall be solely responsible for all transportation of Cash received or made available through Cash Vault Services and expressly acknowledges that it is assuming any risk of loss or shortage.
Cash Vault Services will consist of deposit processing, deposit reporting, and responding to Customer requests (“Currency Orders”) for Bank to make available certain specified amounts of coin and currency (referred to collectively in this section as “Cash”) from Bank’s cash vaults and accept deposits of Cash and checks.
Maximum or initial limits may be applied, as established from time to time by the Bank for Customer’s use of Cash Vault Services.
Bank shall have no obligation to release any Cash under Cash Vault Services unless there are sufficient available funds in the Account to pay for the order.
Containers must be provided by the Bank, or if provided by the Customer, approved by the Bank for transport of Cash under Cash Vault Services (referred to in this section as an “Approved Container”).
Customer shall maintain a complete record of all items transported through Cash Vault Services, and shall promptly, diligently, and fully cooperate and cause its Personnel to cooperate fully with the Bank in any investigation of any loss or discrepancy.
Customer will designate certain Personnel as Authorized Users to place Currency Orders and to perform certain other duties on behalf of the Customer for use of the Cash Vault Services.
The transportation of items and Cash in connection with Cash Vault Services is at Customer’s risk and Bank shall have no liability for such transportation, including but not limited to, liability arising out the items’ loss, theft, or destruction during transportation.