Common use of Cheque Imaging Clause in Contracts

Cheque Imaging. The Customer acknowledges and agrees that digital images or electronic representations of Instruments (including copies of same) may be made or captured and used by financial institutions involved in the exchange and clearing of payments in Canada and elsewhere, in which case the original paper item may be destroyed and not returned to the Customer. The Customer acknowledges that RBC is entitled to act upon such images and representations for all purposes as if it were a paper item. RBC and other financial institutions may reject any Instrument that does not comply with its’ policies and standards and the Customer shall be responsible for any loss, damage or expense resulting thereof. The Customer acknowledges that copies of images of Instruments (including digital or electronic representations) may be provided to the Customer before RBC has determined whether the Instrument will be honoured or accepted. The Customer agrees that such copies or images of Instruments are made available by RBC as a service to the Customer and that the provision of copies of images of Instruments does not mean that a transaction has been processed or in any way obliges RBC to honour or accept the Instrument. RBC will not be required to ensure that copies of images can be made available to the Customer or any other party upon request for longer than six years following the date of the statement of account on which the Instrument appears, subject to payment of any fees or charges established by RBC from time to time.