Common use of ACCOUNT RECONCILIATION AND REPORTING ERRORS Clause in Contracts

ACCOUNT RECONCILIATION AND REPORTING ERRORS. Member agrees to verify and reconcile any out-of-balance condition, errors, omissions, or interruptions in, or delay or unavailability of, the SCU Remote Deposit as promptly as possible. The Credit Union will provide notice of receipt of deposits to Member’s Account on the periodic statement for any such Account. Member is responsible for detecting and reporting to the Credit Union any discrepancy between the Member’s records and the records the Credit Union provides to the Member. If the Member does not detect and notify the Credit Union of such a discrepancy within 60 days of the Member’s receipt of any terminal printout, mailed report or periodic statement (each a “report”), whichever is received first, then such transactions shall be considered correct, and the Member shall be precluded from asserting such error or discrepancy against the Credit Union. If notified within such period, the Credit Union shall correct and resubmit all erroneous files, reports, and other data at the Credit Union’s then standard charges, or at no charge, if the erroneous report or other data directly resulted from the Credit Union’s error. Failure of the Member to notify the Credit Union of any error, omission, or other discrepancy within the time period listed above shall relieve the Credit Union of any liability for such error, omission, or discrepancy. Upon request, the Member agrees to provide copies of imaged documents (or original documents, if available) to facilitate investigations related to unusual transactions or poor quality transmissions, or to resolve disputes.