Positive Pay Services definition

Positive Pay Services. The processing of Check Issued Files and ACH Items (including but not limited to Exception Checks and ACH Exception Items) used to identify fraudulent checks and ACH items attempting to clear Authorized Account(s) enrolled under in this Agreement.
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Positive Pay Services means the positive pay Services as more fully described in Section 2 of this Subpart.
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Positive Pay Services mean the services described in Section 1.4 of the Payment Disbursement Services Exhibit to the Agreement.
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Examples of Positive Pay Services in a sentence

  • The Company further acknowledges and agrees that if Bank acts in accordance with the procedures set forth herein in paying items through the Positive Pay Services, Bank shall be deemed to have exercised good faith and ordinary care as defined by Articles 3 and 4 of the Uniform Commercial Code (“UCC”) and Bank shall have no liability whatsoever in paying such item(s).

  • Company agrees that if it fails to implement the Positive Pay Services following Bank’s request that it do so, Company will be precluded from asserting any claim against Bank for paying an unauthorized, altered, counterfeit or other fraudulent item that the Positive Pay Services were designed to detect or deter, and Bank will not be required to re-credit your Account(s) or otherwise be liable to Company for paying such item.

  • The Company acknowledges that Company’s failure to use the Positive Pay Services could substantially increase the likelihood of undetected fraudulent activity on its Accounts and that it is neither unreasonable nor unreasonable under the circumstances for us to require Company to use our Positive Pay Services upon request.

  • If Bank suspects or concludes, in its sole discretion, that Company is using the Positive Pay Services in violation of the previous sentence, the Bank may require the Company to provide evidence that the items the Bank is being requested to return pursuant to Company’s instructions are in fact fraudulent.

  • Throughout the term of this Service Description, Client will maintain the deposit account (the "Account") with Bank designated in the Supporting Documents, or otherwise in writing, to which the Positive Pay Services will be made available.

  • Except as otherwise stated in this Agreement, Bank will be liable to Customer only for damages directly from Bank’s intentional misconduct or gross negligence in the performance of the Positive Pay Services.

  • The Company agrees that the Positive Pay Services are intended to be used to identify and return items which Company suspects, in good faith, are fraudulent, and are not intended to be used as a substitute for Company placing stop payment orders on items which Company does not wish to be paid and which are not suspected as being fraudulent.

  • Positive Pay Services are offered by Bank as the most effective way to minimize loss from fraudulent Check issuance or payment.

  • Service users may change their minds and withdraw consent at any time.

  • You will not use our Positive Pay Services to pay your obligations on a delayed basis or in place of a stop payment order on any check, Item or Exception Item which you know before its presentment you do not want to have us pay.


More Definitions of Positive Pay Services

Positive Pay Services. (Positive Pay/ACH Positive Pay) means the processing of Check Issued Files and ACH Items (including but not limited to Exception Checks and ACH Exception Items) used to identify fraudulent checks and ACH items attempting to clear Authorized Account(s) enrolled under in this Agreement.
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Related to Positive Pay Services

  • Supported employment services means provision of job training and supervision available to assist an individual who needs intensive ongoing support to choose, get, and keep a job in a community business setting. Supported employment is a service planned in partnership with public vocational assistance agencies and school districts and through Social Security Work Incentives when available.

  • Consultancy Services means the Consultancy Services described in Schedule A;

  • Travel Services means transportation, accommodation or other travel arrangements including, without limitation, air, rail, bus passenger transportation, hotel accommodation and car hire services.

  • Adult day services means adult day services as defined in section 231D.1.

  • Supportive personnel means unlicensed individuals who:

  • Shared Services means shared order filling or shared order processing, or both.

  • Competing Services means to provide, manage, supervise, or consult about (whether as an employee, owner, partner, stockholder, investor, joint venturer, lender, director, manager, officer, employee, consultant, independent contractor, representative or agent, or otherwise) any services that are similar in purpose or function to services you provided to the Company in the two year period preceding the termination of your employment, that might involve the use or disclosure of Confidential Information, or that would involve business opportunities related to Relevant Products.

  • Basic health plan services means that schedule of covered

  • Assistive technology service means any service that directly assists a child with a disability in the selection, acquisition, or use of an assistive technology device. The term includes:

  • Educational personnel means persons who must meet requirements pursuant to state law as a condition of employment in educational programs.

  • Educational Services means educational training provided to Entitled Students at a School;

  • Distribution Services means the service of distribution, as defined in section 5 of the Act;

  • Emergency medical services personnel means that term as defined in section 20904 of the public health code, 1978 PA 368, MCL 333.20904.

  • Associated Services means equipment and services, asked for, along with work over unit in this bid document. These include but not limited to mud engineering, equipment & services; camp/catering/ medical services, communication, safety & fire fighting services well control services etc.

  • Pharmacy services means the practice of pharmacy as defined in chapter 18.64 RCW and includes any drugs or devices as defined in chapter 18.64 RCW.

  • Pharmacy benefits management means the administration or management of prescription drug

  • Basic generation service or "BGS" means electric generation

  • Basic generation service provider or "provider" means a

  • Enhanced Services means any service offered over Common Carrier transmission facilities that employ computer processing applications that act on the format, content, code, protocol or similar aspects of a subscriber's transmitted information; that provide the subscriber with additional, different or restructured information; or involve End User Customer interaction with stored information. "Enhanced 911" or "E911" shall have the meaning set forth in Section 10.3.1.

  • Program services means services that include all of the following provided they are pursuant to a program agreement: program needs assessment and development, job task analysis, curriculum development and revision, instruction, instructional materials and supplies, computer software and upgrades, instructional support, administrative and student services, related school to career training programs, skill or career interest assessment services and testing and contracted services.

  • Cloud Services means SAP’s then-current cloud services offered under and described in detail in the applicable SAP PartnerEdge Model.

  • Business Unit means the assets constituting the business or a division or operating unit thereof of any Person.

  • Education Services means training services performed or delivered by Company.

  • Advanced Services refers to high speed, switched, broadband, wireline Telecommunications capability that enables users to originate and receive high-quality, voice, data, graphics or video Telecommunications using any technology.

  • Competing Program has the meaning set forth in Section 8.5.

  • Specialized services means any program or service designed and operated to serve primarily individuals with developmental disabilities, including a program or service provided by an entity licensed or certified by the department. If there is a question as to whether a provider or entity under contract with a provider is providing specialized services, the provider or contract entity may request that the director of the department make a determination. The director's determination is final.