Substitute Check definition

Substitute Check means a paper reproduction of an Item that satisfies the requirements and definition of "substitute check" set forth in Regulation CC.

Substitute Check means a paper check or item created from an electronic image in accordance with Regulation CC.

Substitute Check means a paper re- production of a check drawn on the United States Treasury that meets the definitional requirements set forth at 12 CFR 229.2(aaa).

Examples of Substitute Check in a sentence

• Bank shall have no liability to Client, or any other person in the event that any deposited Check is processed as, or converted by Bank to, an Image or Substitute Check.

• When Bank receives an Image of a Check transmitted from Client that that has been converted to a digital version of the original Check (a Substitute Check) for subsequent presentment and collection, it shall thereafter be deemed an “item” within the meaning of Articles 3 and 4 of the Uniform Commercial Code.

• Client also understands that the appearance of the original Check and the use of certain background colors, decorative images, and choices in ink on the original check may affect the ability to produce a readable digital image of the check or the creation of a Substitute Check that meets legal equivalence requirements which may require the original check to be processed for collection, and any such liability or Losses related to the foregoing shall be the responsibility of Client.

• Without limitation, you recognize that under the UCC, Regulation CC, the Electronic Check Clearing House OrganizationTM (“ECCHO”) Rules (as applicable), and the rules of any image exchange network, our representations and warranties with regards to Image Exchange Items and Substitute Checks may expose us to claims for several years following processing of the Image Exchange Item or Substitute Check.

More Definitions of Substitute Check

Substitute Check means a paper reproduction of an Original Written check as defined in the Check Clearing for the 21st Century Act of 2003, as amended.

Substitute Check means a paper reproduction of an Original Check that: (a) contains an image of the front and back of the Original Check; (b) bears a MICR line that contains all the information appearing on the MICR line of the Original Check at the time that the Original Check was issued and any additional information that was encoded on the Original Check’s MICR line before an image of the Original Check was captured; (c) conforms in paper stock, dimension, and otherwise; and (d) is suitable for automated processing in the same manner as the Original Check.

Substitute Check means a paper reproduction of an Original Check that: (1) contains an image of the front and back of the Original Check; (2) bears a MICR line that, except as provided under the applicable Standard, contains all the information appearing on the MICR line of the Original Check at the time that the Original Check was issued and any additional information that was encoded on the Original Check’s MICR line before an image of the Original Check was captured;

Substitute Check means a paper reproduction of an

Substitute Check has the meaning given to it Section 3(16) of the Check Clearing for the 21st Century Act (“Check 21”), P.L. 108-100, 12 U.S.C. § 5001(16).

Substitute Check means a paper reproduction of an Original Check that (1) contains an image of the front and back of the Original Check; (2) bears a MICR line that, except as provided under the applicable Standard, contains all the information appearing on the MICR line of the Original Check at the time that the Original Check was issued and any additional information that was encoded on the Original Check’s MICR line before an image of the Original Check was captured; (3) conforms in paper stock, dimension, and otherwise with ANS X9.100-140 (unless the FRB by rule or order determines that a different standard applies); and (4) is suitable for automated processing in the same manner as the Original Check.

Substitute Check means a paper reproduction of an Original Check that: