Common use of Check Retention & Destruction Clause in Contracts

Check Retention & Destruction. Member agrees that all items belong to Member and not to Credit Union and that those items shall be handled in accordance with this Agreement. After receipt by Credit Union of any transmission by Member of imaged items for deposit to Member's account, Credit Union will acknowledge by electronic means its receipt of such electronic transmission. Member's electronic transmission is subject to proof and verification. Member shall retain the original of all imaged items that have been deposited via Mobile Deposit for reasonable period of time in order to verify settlement and credit or to balance periodic statements, but in no case beyond thirty-five (35) days from the date processed, and shall properly destroy and dispose of such original checks after such time. During the period that the Member maintains the original checks, the Member understands and agrees that it must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft or reproduction of the original checks (including by employees) for purposes of presentment for deposit of these original checks (i.e., after the original checks have already been presented for deposit via the Mobile Deposit Capture service) and (ii) unauthorized use of information derived from the original checks. When Member destroys, and disposes of, the original checks pursuant to the requirements of this Agreement, the Member understands and agrees that it must use a high degree of care when selecting and implementing destruction and disposal procedures. Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons during the destruction and disposal process and, once destroyed, the original checks are no longer readable or capable of being reconstructed (e.g., through the use of competent shredding equipment.)

Appears in 2 contracts

Samples: Mobile Deposit Agreement, Mobile Deposit Agreement

AutoNDA by SimpleDocs

Check Retention & Destruction. Member agrees that all items belong to Member and not to Credit Union and that those items shall be handled in accordance with this AgreementAgreement and the Help File. After receipt by Credit Union of any transmission by Member of imaged items for deposit to Member's account, Credit Union will acknowledge by electronic means its receipt of such electronic transmission. Member's electronic transmission is subject to proof and verification. Member shall retain the original of all imaged items that have been deposited via Mobile Deposit eDeposit for reasonable period of time in order to verify settlement and credit or to balance periodic statements, but in no case beyond thirty-five ninety (3590) days from the date processed, and shall properly destroy and dispose of such original checks after such time. During the period that the Member maintains the original checks, the Member understands and agrees that it must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft or reproduction of the original checks (including by employees) for purposes of presentment for deposit of these original checks (i.e., after the original checks have already been presented for deposit via the Mobile Deposit Capture eDeposit check capture service) and (ii) unauthorized use of information derived from the original checks. When Member destroys, and disposes of, the original checks pursuant to the requirements of this Agreement, the Member understands and agrees that it must use a high degree of care when selecting and implementing destruction and disposal procedures. Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons during the destruction and disposal process and, once destroyed, the original checks are no longer readable or capable of being reconstructed (e.g., through the use of competent shredding equipment.)

Appears in 2 contracts

Samples: Edeposit Services Agreement, Edeposit Services Agreement

Check Retention & Destruction. Member agrees that all items belong to Member and not to Credit Union and that those items shall be handled in accordance with this AgreementAgreement and the Help File. After receipt by Credit Union of any transmission by Member of imaged items for deposit to Member's ’s account, Credit Union will acknowledge by electronic means its receipt of such electronic transmission. Member's ’s electronic transmission is subject to proof and verification. Member shall retain the original of all imaged items that have been deposited via Mobile Deposit for a reasonable period of time (i.e. 60 days) in order to verify settlement and credit or to balance periodic statements, but in no case beyond thirty-five ninety (3590) days days, from the date processed, and shall properly destroy and dispose of such original checks after such time. You will promptly provide any retained item, or a sufficient copy of the front and back of the item, to CU as requested to aid in the clearing and collection process, to resolve claims by third parties with respect to any item, or for CU’s audit purposes. During the period that the Member maintains the original checks, the Member understands and agrees that it must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft or reproduction of the original checks (including by employees) for purposes of presentment for deposit of these original checks (i.e., after the original checks have already been presented for deposit via the Mobile Deposit Capture service) and (ii) unauthorized use of information derived from the original checks. When Member destroys, and disposes of, the original checks pursuant to the requirements of this Agreement, the Member understands and agrees that it must use a high degree of care when selecting selection and implementing destruction and disposal procedures. Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons person during the destruction and disposal process and, once destroyed, the original checks are no longer readable or capable of being reconstructed (e.g., through the use of competent shredding equipment.)) You agree that you will never re-present the original check. You understand that you are responsible if anyone is asked to make a payment based on an original check that has already been paid.

Appears in 1 contract

Samples: Deposit Services Agreement

Check Retention & Destruction. Member agrees that all items belong to Member and not to the Credit Union and that those items shall be handled in accordance with this AgreementAgreement and the Help section. After receipt by the Credit Union of any transmission by Member of imaged items for deposit to Member's account, the Credit Union will acknowledge by electronic means its receipt of such electronic transmission. Member's electronic transmission is subject to proof and verification. Member shall retain the original of all imaged items that have been deposited via Mobile Deposit the Service for a reasonable period of time in order to verify settlement and credit or to balance periodic statements, but in no case beyond thirty-five ninety (3590) days from the date processed, and shall properly destroy and dispose of such original checks after such timetime by marking it “VOID” or otherwise rendering it incapable of further transmission, deposit, or presentment. During the period that the Member maintains the original checks, the Member understands and agrees that it must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft or reproduction of the original checks (including by employees) for purposes of presentment for deposit of these original checks (i.e., after the original checks have already been presented for deposit via the Mobile Deposit Capture serviceService) and (ii) unauthorized use of information derived from the original checks. When Member destroys, and disposes of, the original checks pursuant to the requirements of this Agreement, the Member understands and agrees that it he/she must use a high degree of care when selecting and implementing destruction and disposal procedures. Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons during the destruction and disposal process and, once destroyed, the original checks are no longer readable or capable of being reconstructed (e.g., through the use of competent shredding equipment.)

Appears in 1 contract

Samples: Deposit Service Agreement

Check Retention & Destruction. Member agrees that all items belong to Member and not to Credit Union and that those items shall be handled in accordance with this AgreementAgreement and the Help File. After receipt by Credit Union of any transmission by Member of imaged items for deposit to Member's account, Credit Union will acknowledge by electronic means its receipt of such electronic transmission. Member's electronic transmission is subject to proof and verification. Member shall retain the original of all imaged items that have been deposited via Mobile Deposit ezDeposit for reasonable period of time in order to verify settlement and credit or to balance periodic statements, but in no case beyond thirty-five ninety (3590) days from the date processed, and shall properly destroy and dispose of such original checks after such time. During the period that the Member maintains the original checks, the Member understands and agrees that it must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft or reproduction of the original checks (including by employees) for purposes of presentment for deposit of these original checks (i.e., after the original checks have already been presented for deposit via the Mobile Deposit ezDeposit Capture service) and (ii) unauthorized use of information derived from the original checks. When Member destroys, and disposes of, the original checks pursuant to the requirements of this Agreement, the Member understands and agrees that it must use a high degree of care when selecting and implementing destruction and disposal procedures. Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons during the destruction and disposal process and, once destroyed, the original checks are no longer readable or capable of being reconstructed (e.g., through the use of competent shredding equipment.)

Appears in 1 contract

Samples: Services Agreement

Check Retention & Destruction. The Member agrees that all items belong to the Member and not to the Credit Union and that those items shall be handled in accordance with this AgreementAgreement and the help index within the MyDeposit Service. After receipt by the Credit Union of any transmission by the Member of imaged items for deposit to the Member's account, the Credit Union will acknowledge acknowledge, by electronic means means, its receipt of such electronic transmission. The Member's electronic transmission is subject to proof and verification. The Member shall delete any saved images immediately after deposit transmission but retain the original of all imaged items that have been deposited via Mobile Deposit MyDeposit for a reasonable period of time in order to verify settlement and credit or to balance periodic statements, ; but in no case beyond thirty-five ninety (3590) days from the date processed, and shall properly destroy and dispose of such original checks after such time. During the period that the Member maintains the original checks, the Member understands and agrees that it he/she must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft or reproduction of the original checks (including by employeesMember’s own employees or agents) for purposes of presentment for deposit of these original checks (i.e., i.e. after the original checks have already been presented for deposit via the Mobile Deposit Capture serviceMyDeposit Service) and (ii) unauthorized use of information derived from the original checks. When the Member destroys, destroys and disposes of, of the original checks pursuant to the requirements of this Agreement, the Member understands and agrees that it he/she must use a high degree of care when selecting and implementing destruction and disposal procedures. Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons during the destruction and disposal process process, and, once destroyed, the original checks are no longer readable or capable of being reconstructed (e.g., i.e. through the use of competent shredding equipment).)

Appears in 1 contract

Samples: Mydeposit Service Agreement

Check Retention & Destruction. Member agrees that all items belong to Member and not to Credit Union and that those items shall be handled in accordance with this AgreementAgreement and the User Guide. After receipt by Credit Union of any transmission by Member of imaged items for deposit to Member's account, Credit Union will acknowledge by electronic means its receipt of such electronic transmission. Member's electronic transmission is subject to proof and verification. Member shall retain the original of all imaged items that have been deposited via Mobile Remote Deposit for reasonable period of time in order to verify settlement and credit or to balance periodic statements, but in no case beyond thirty-five (35) days from the date processed, and shall properly destroy and dispose of such original checks after such time. During the period that the Member maintains the original checks, the Member understands and agrees that it must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft or reproduction of the original checks (including by employees) for purposes of presentment for deposit of these original checks (i.e., after the original checks have already been presented for deposit via the Mobile Remote Deposit Capture service) and (ii) unauthorized use of information derived from the original checks. When Member destroys, and disposes of, the original checks pursuant to the requirements of this Agreement, the Member understands and agrees that it must use a high degree of care when selecting and implementing destruction and disposal procedures. Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons during the destruction and disposal process and, once destroyed, the original checks are no longer readable or capable of being reconstructed (e.g., through the use of competent shredding equipment.)

Appears in 1 contract

Samples: Remote Deposit Services Agreement

AutoNDA by SimpleDocs

Check Retention & Destruction. The Member agrees that all items belong to the Member and not to the Credit Union and that those items shall be handled in accordance with this Agreement. After receipt by the Credit Union of any transmission by the Member of imaged items for deposit to the Member's account, the Credit Union will acknowledge by electronic means means, its receipt of such electronic transmission. The Member's electronic transmission is subject to proof and verification. The Member shall retain the original of all imaged items that have been deposited via Mobile Deposit MyDeposit for a reasonable period of time in order to verify settlement and credit or to balance periodic statements, but in no case beyond thirty-five ninety (3590) days from the date processed, and shall properly destroy and dispose of such original checks after such time. During the period that the Member maintains the original checks, the Member understands and agrees that it he/she must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft or reproduction of the original checks (including by employeesMember’s own employees or agents) for purposes of presentment for deposit of these original checks (i.e., i.e. after the original checks have already been presented for deposit via the Mobile Deposit Capture serviceMyDeposit Service) and (ii) unauthorized use of information derived from the original checks. When the Member destroys, destroys and disposes of, of the original checks pursuant to the requirements of this Agreement, the Member understands and agrees that it he/she must use a high degree of care when selecting and implementing destruction and disposal procedures. Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons during the destruction and disposal process process, and, once destroyed, the original checks are no longer readable or capable of being reconstructed (e.g., i.e. through the use of competent shredding equipment).)

Appears in 1 contract

Samples: Mobile Mydeposit Service Agreement

Check Retention & Destruction. Member agrees that all items belong to Member and not to Credit Union and that those items shall be handled in accordance with this AgreementAgreement and the Help File. After receipt by Credit Union of any transmission by Member of imaged items for deposit to Member's account, Credit Union will acknowledge by electronic means its receipt of such electronic transmission. Member's electronic transmission is subject to proof and verification. Member shall retain the original of all imaged items that have been deposited via Mobile Deposit for a reasonable period of time (i.e. 60 days) in order to verify settlement and credit or to balance periodic statements, but in no case beyond thirty-five ninety (3590) days days, from the date processed, and shall properly destroy and dispose of such original checks after such time. You will promptly provide any retained item, or a sufficient copy of the front and back of the item, to CU as requested to aid in the clearing and collection process, to resolve claims by third parties with respect to any item, or for CU's audit purposes. During the period that the Member maintains the original checks, the Member understands and agrees that it must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft or reproduction of the original checks (including by employees) for purposes of presentment for deposit of these original checks (i.e., after the original checks have already been presented for deposit via the Mobile Deposit Capture service) and (ii) unauthorized use of information derived from the original checks. When Member destroys, and disposes of, the original checks pursuant to the requirements of this Agreement, the Member understands and agrees that it must use a high degree of care when selecting and implementing destruction and disposal procedures. Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons person during the destruction and disposal process and, once destroyed, the original checks are no longer readable or capable of being reconstructed (e.g., through the use of competent shredding equipment.)) You agree that you will never re-present the original check. You understand that you are responsible if anyone is asked to make a payment based on an original check that has already been paid.

Appears in 1 contract

Samples: Mobile Remote Deposit Services Agreement

Check Retention & Destruction. Member agrees that all items belong to Member and not to Credit Union and that those items shall be handled in accordance with this Agreement. After receipt by Credit Union A1CU of any transmission by Member member of imaged items for deposit to Member's account, Credit Union A1CU will acknowledge by electronic means its receipt of such electronic transmission. Member's electronic transmission is subject to proof and verification. Member shall retain the original of all imaged items that have been deposited via Mobile Deposit RDC for reasonable period of time in order to verify settlement and credit or to balance periodic statements, but in no case beyond thirty-five ninety (3590) days from the date processed, and shall properly destroy and dispose of such original checks after such time. During the period that the Member maintains the original checks, the Member member understands and agrees that it must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft or reproduction of the original checks (including by employees) for purposes of presentment for deposit of these original checks (i.e., after the original checks have already been presented for deposit via the Mobile Deposit Capture RDC check capture service) and (ii) unauthorized use of information derived from the original checks. When Member destroys, and disposes of, the original checks pursuant to the requirements of this Agreement, the Member understands and agrees that it must use a high degree of care when selecting and implementing destruction and disposal procedures. Among other things, these procedures must be designed to ensure that the original checks are not accessed by unauthorized persons during the destruction and disposal process and, once destroyed, the original checks are no longer readable or capable of being reconstructed (e.g., through the use of competent shredding equipment.)

Appears in 1 contract

Samples: www.american1cu.org

Time is Money Join Law Insider Premium to draft better contracts faster.