Paper Items definition
Examples of Paper Items in a sentence
You will maintain control over and be responsible for secure retention, storage, and destruction of original Paper Items for which you have created an Electronic Item.
You will retain and store the original Paper Items in a secure and locked container that is only accessible by persons needing access to such Paper Items.
During the Retention Period and upon our request, you agree to provide us with the original Paper Item(s).
You will use the Deposit Service only for Paper Items that are payable to, and indorsed by, you.
BUYER shall bear all charges and costs imposed by the Federal Reserve in connection with the reassignment of account number ranges for sorting the Paper Items.
The Deposit Service enables you to use a Mobile Banking Application and certain hardware (such as a smart phone or other mobile device) to (i) create electronic images of the front and back of certain Paper Items and (ii) transmit those images and other information, including, without limitation, information captured from the magnetic ink character recognition (“MICR”) line, to us for review and processing in accordance with this Addendum.
An optional service that enables consumers to use our Classic Bank Mobile Banking app and certain hardware (such as a smartphone or other mobile device) to take a picture of certain checks and Paper Items and transmit the images to us for deposit to their Classic Bank deposit account.
BUYER shall bear all charges and costs imposed by the FRB in connection with the reassignment of account number ranges for sorting the Paper Items.
During the Inclearing Period, Seller shall credit the Correspondent Account on the date of receipt of Paper Items and shall promptly send to Purchaser all Paper Items received for payment.
After transmitting the Electronic Item to us, you will retain the original Paper Items for a minimum of five (5) calendar days, but no longer than fourteen (14) calendar days, from the transmission date ("Retention Period").