Common use of Check Retention & Destruction Clause in Contracts

Check Retention & Destruction. You agree that all checks belong to you and not to the Credit Union and that those items shall be handled by you in accordance with this Agreement and your MAA. We will respond electronically to each deposit transmission received. The image you transmit is subject to proof and verification. You agree to retain the physical original of all checks that have been imaged by mRDC and deposited via the Service for a reasonable period of time but in no case beyond forty-five (45) days from the date processed. During this time, you agree to verify settlement and credit and to balance periodic statements. During the first thirty (30) days of this retention period, we may require you, in our sole discretion, to present to us the physical original check. You agree that your failure to do so within a reasonable period of time may result in our charging back to your account the deposited amount. It is your responsibility to properly destroy and dispose of such original checks after such time. During the period that you maintain any original checks, you understand and agree that you must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft, misappropriation, or reproduction of the original checks (including by joint owners, employees or agent/signers) for purposes of presentment for deposit of these original checks (i.e., after the original checks have already been presented for deposit via the Service) and (ii) unauthorized use of information derived from the original checks. When you dispose of any original checks, you understand and agree that you must use a high degree of care when selecting and implementing disposal procedures to ensure that the original checks are not accessed by unauthorized persons during the disposal process and, once destroyed, the original checks are no longer readable or capable of being reconstructed.

Check Retention & Destruction. You agree that all checks items belong to you and not to the Credit Union us and that those items shall be handled by you in accordance with this Agreement and your MAAAgreement. We will respond electronically to each deposit Your electronic transmission received. The image you transmit is subject to proof and verification. You agree to shall retain the physical original of all checks imaged items that have been imaged by mRDC and deposited via the Service Mobile Deposit for a reasonable period of time in order to verify reconciliation and credit or to balance periodic statements, but in no case beyond forty-five fourteen (4514) business days from the date processed. During this time, you agree to verify settlement and credit and to balance periodic statements. During the first thirty (30) days of this retention period, we may require you, in our sole discretion, to present to us the physical original check. You agree that your failure to do so within a reasonable period of time may result in our charging back to your account the deposited amount. It is your responsibility to shall properly destroy and dispose of such original checks after such time. During the period that you maintain any the original checks, you understand and agree that you must use a high degree of care to protect these original checks against security risks. These risks include, without limitation, (i) theft, misappropriation, theft or reproduction of the original checks (including by joint owners, employees or agent/signers) for purposes of presentment for deposit of these original checks (i.e., after the original checks have already been presented for deposit via the ServiceMobile Deposit) and (ii) unauthorized use of information derived from the original checks. When you dispose of any original checks, you You understand and agree that you must use a high degree of care when selecting and implementing destruction and disposal procedures for the original checks. 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 (e.g., through the use of competent shredding equipment) and, once destroyed, the original checks are no longer readable or capable of being reconstructed.. Presentment Prohibitions You shall not present, or attempt to present, or allow others, either directly or indirectly, to present, or attempt to present, for deposit by any means (i) any substitute check that has already been presented for deposit via Mobile Deposit, or (ii) any original check, the substitute check of which has already been presented for deposit via Mobile Deposit. In the event that you or any third party, presents, or attempts to present, a deposit in violation of this Subsection, you agree to defend, indemnify, and hold us and our agents harmless from and against all liability, damage and loss arising out of any claims, suits, or demands brought by third parties with respect to any such substitute check or original check. You agree that the aggregate amount of any items that are deposited more than once will be debited from your account, and to the extent funds in your account are insufficient to cover such amount, any balance shall be debited by us from any other deposit accounts with us in our sole discretion. You further acknowledge that you and not we are responsible for the processing and handling of any original items that are imaged and deposited utilizing Mobile Deposit and you assume all liability to the drawer of any item imaged using Mobile Deposit or liability arising from our printing of any substitute check from those images. Your Representations and Warranties You represent and warrant: