Check collection system definition

Check collection system means an interbank system for collecting, pre- senting, returning, and settling for checks or intrabank system for set- tling for checks deposited in and drawn on the same bank. When referring to check collection systems, the terms in this regulation (such as ‘‘paying bank,’’ ‘‘collecting bank,’’ ‘‘depositary bank,’’ ‘‘returning bank,’’ and ‘‘check’’) are defined as those terms are defined in 12 CFR 229.2. For purposes of this part, ‘‘check’’ also includes an electronic representation of a check that a bank agrees to handle as a check.
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Examples of Check collection system in a sentence

  • You must not present the original Check that you used as a source document for collection through the Check collection system unless the BOC entry shall have been returned by the RDFI.

  • Applications of RCK include consumer Checks that do not exceed Two Thousand Five Hundred Dollars ($2,500.00) and that have processed through the Check collection system.

Related to Check collection system

  • Data Collection System means software designed for collection, tracking and reporting 17 outcomes data for Resident enrolled in the FSP Programs.

  • Vapor collection system means a vapor transport system which used direct displacement by the gasoline being transferred to force vapors from the vessel being loaded into either a vessel being unloaded or a vapor control system or vapor holding tank.

  • Collection System means software used for the collection, tracking, and reporting of 34 outcomes data for Clients enrolled in the FSP programs.

  • Wastewater collection system means the sewer and pumping system used for the collection and conveyance of domestic, commercial and industrial wastewater; and

  • Electronic toll collection system means a system of collecting tolls or charges which is capable of charging an account holder the appropriate toll or charge by transmission of information from an electronic device on a motor vehicle to the toll lane, which information is used to charge the account the appropriate toll or charge.

  • Storm water or wastewater collection system means piping, pumps, conduits, and any other equipment necessary to collect and transport the flow of surface water run-off resulting from precipitation, or domestic, commercial, or industrial wastewater to and from retention areas or any areas where treatment is designated to occur. The collection of storm water and wastewater does not include treatment except where incidental to conveyance.

  • Distribution System means the system of wires and associated facilities between the delivery points on the transmission lines or the generating station connection and the point of connection to the installation of the consumers;

  • Verification system means the system maintained by the department under section 19-24.1-31 for verification of registry identification cards.

  • distribution system operator means a natural or legal person responsible for operating, ensuring the maintenance of and, if necessary, developing the distribution system in a given area and, where applicable, its interconnections with other systems and for ensuring the long-term ability of the system to meet reasonable demands for the distribution of electricity;

  • Water distribution system means that portion of the water supply system in which water is conveyed from the water treatment plant or other supply point to the premises of the consumer.

  • Net Collections With respect to any Corrected Mortgage Loan, an amount equal to all payments on account of interest and principal on such Mortgage Loan.

  • Resource recovery facility means a solid waste facility

  • Production System means a live SAP system used for running Licensee’s internal business operations and where Licensee’s data is recorded.

  • Centralized Message Distribution System or "CMDS" means the operation system that Local Exchange Carriers use to exchange outcollect and IABS access messages among each other and other parties connected to CMDS.

  • Distribution System Code means the code approved by the Board which, among other things, establishes the obligations of the distributor with respect to the services and terms of service to be offered to customers and retailers and provides minimum, technical operating standards of distribution systems;

  • Centralized Message Distribution System (CMDS) means the industry-wide data collection system, which handles the daily exchange of message details between CMDS participating telephone companies (also known as CMDS Direct Participants). AT&T-21STATE is a CMDS Direct Participant.

  • Collection site means the location of waste containers on collection day.

  • STATUS VERIFICATION SYSTEM This “Status Verification System” requirement, also referred to as “E-Verify”, only applies to contracts issued through a Request for Proposal process and to sole sources that are included within a Request for Proposal.

  • Leak-detection system means a system capable of detecting the failure of either the primary or secondary containment structure or the presence of a release of hazardous waste or accumulated liquid in the secondary containment structure. Such a system must employ operational controls (e.g., daily visual inspections for releases into the secondary containment system of aboveground tanks) or consist of an interstitial monitoring device designed to detect continuously and automatically the failure of the primary or secondary containment structure or the presence of a release of hazardous waste into the secondary containment structure.

  • Collection Services means all of the duties and obligations of the Contractor hereunder.

  • At-home recovery visit means the period of a visit required to provide at home recovery care, without limit on the duration of the visit, except each consecutive four (4) hours in a twenty-four-hour period of services provided by a care provider is one visit.

  • Transportation System means the facilities at any time in place to receive Shipper’s Gas at the Entry Point(s), process, handle, transport and redeliver the Gas at the Exit Point(s), in accordance with the Transportation Agreement, as detailed in Transportation System Description.

  • Disaster Recovery Services means the Services embodied in the processes and procedures for restoring the provision of Services following the occurrence of a Disaster, as detailed further in Call Off Schedule 8 (Business Continuity and Disaster Recovery);

  • Debt collection means the collection of unpaid tolls and applicable administrative fees by (i) 750 retention of a third-party debt collector or (ii) collection practices undertaken by employees of a toll 751 facility operator that are materially similar to a third-party debt collector.

  • Infrastructure Charge means a Water Infrastructure Charge or a Sewerage Infrastructure Charge;

  • Public transportation system means all facilities, conveyances and instrumentalities, whether publicly or privately owned, that are used in or for publicly available services for the transportation of persons or cargo.