Common use of ACH Rules Clause in Contracts

ACH Rules. The Originator acknowledges receipt of a copy or has access to a copy of the Rules. The Originator agrees to comply with and be bound by the Rules. In the event the Originator violates any of the applicable Rules and NACHA imposes a fine on the Financial Institution because of the Originator's violation, the Financial Institution may charge the fine to the Originator. The Financial Institution agrees to inform the Originator of revisions to the Rules of which the Financial Institution has knowledge.