Common use of ACH Services Clause in Contracts

ACH Services. Review cards for accuracy and completeness and identifying cards with incomplete information · Mail cure letter to Shareholders with incomplete cards · Identify cards received after the cut-off date · Code accounts for ACH and performing pre-note test · Identify rejected ACH transmissions mail dividend check and explanation letter to Shareholders with rejected transmissions · Respond to Shareholder inquiries concerning the ACH Program · Code cards received after cut-off date · Calculate on a quarterly basis the Share breakdown for ACH vs. other dividend payments and notifying the Fund of funding amount for ACH transmissions and other payable date funds · Credit ACH designated bank accounts automatically on dividend payable date · Maintenance of ACH participant file, including coding new ACH accounts · Process termination requests · Keep adequate records including retention of authorization cards · Invest dividends and optional cash purchases per the plan document · Process DTC monthly reinvestments at $250.00 per investment, per fund · Coordinate the mailings statement to Plan participants · Process sale, termination and withdrawal requests · Supply summary reports for each reinvestment/investment · Provide certificate safekeeping · Coordinate the mailing of Form 1099 to participants, including DRP participants and related filings with the IRS Note: Depository Wire charges required to fund dividend payments will be billed to the Fund