Common use of Deposit Error Correction Clause in Contracts

Deposit Error Correction. Upon receipt of your deposits, FSB may provisionally credit your account for the amount declared on the deposit slip, subject to later verification. You must ensure that the amount declared on the deposit slip is correct even if you did not prepare the deposit slip. If FSB later determines that the amounts declared on the deposit slip are incorrect, FSB may adjust (debit or credit) your account. FSB reports adjustments on your account statement. However, if the error is less than FSB’s standard adjustment amount, FSB will not adjust the deposit unless you notify FSB of the error within 60 days of the date of your periodic statement that shows the deposit. After this notice period has passed without your bringing an error to FSB’s attention, the deposit amount indicated on the statement will be considered finally settled. That is, if the actual amount deposited was less than the amount declared on the deposit slip, the difference will become your property, and if the actual amount deposited was more than the amount declared on the deposit slip, the difference will become FSB’s property. FSB may change its standard adjustment amount from time to time without notice to you. FSB may require your personal endorsement before accepting any item for deposit. FSB may require that checks and other items you want to deposit or cash be endorsed by all parties to whom the items are payable. Before accepting an item, FSB may require verification of any endorsement, either through personal identification or through an endorsement guarantee by another financial institution acceptable to FSB. You must endorse checks in the area that extends 11⁄2 inches from the trailing edge of the back of the check. The trailing edge is the left side of the check when you look at it from the front. If you endorse a check outside of this area, if you mark or otherwise obscure other areas of the check, or if your endorsement is illegible or incomplete, you agree to assume responsibility for and to indemnify FSB for any loss, delay, liability, claim, or damage which occurs as a result.

Deposit Error Correction. Upon receipt of your deposits, FSB USB may provisionally credit your account for the amount declared on the deposit slip, subject to later verification. You must ensure that the amount declared on the deposit slip is correct even if you did not prepare the deposit slip. If FSB USB later determines that the amounts declared on the deposit slip are incorrect, FSB USB may adjust (debit or credit) your account. FSB USB reports adjustments on your account statement. However, if the error is less than FSBUSB’s standard adjustment amount, FSB USB will not adjust the deposit unless you notify FSB USB of the error within 60 days of the date of your periodic statement that shows the deposit. After this notice period has passed without your bringing an error to FSBUSB’s attention, the deposit amount indicated on the statement will be considered finally settled. That is, if the actual amount deposited was less than the amount declared on the deposit slip, the difference will become your property, and if the actual amount deposited was more than the amount declared on the deposit slip, the difference will become FSBUSB’s property. FSB USB may change its standard adjustment amount from time to time without notice to you. FSB USB may require your personal endorsement before accepting any item for deposit. FSB USB may require that checks and other items you want to deposit or cash be endorsed by all parties to whom the items are payable. Before accepting an item, FSB USB may require verification of any endorsement, either through personal identification or through an endorsement guarantee by another financial institution acceptable to FSBUSB. You must endorse checks in the area that extends 11⁄2 11/2 inches from the trailing edge of the back of the check. The trailing edge is the left side of the check when you look at it from the front. If you endorse a check outside of this area, if you mark or otherwise obscure other areas of the check, or if your endorsement is illegible or incomplete, you agree to assume responsibility for and to indemnify FSB USB for any loss, delay, liability, claim, or damage which occurs as a result.

Deposit Error Correction. Upon receipt of your deposits, FSB may provisionally credit your account for the amount declared on the deposit slip, subject to later verification. You must ensure that the amount declared on the deposit slip is correct even if you did not prepare the deposit slip. If FSB later determines that the amounts declared on the deposit slip are incorrect, FSB may adjust (debit or credit) your account. FSB reports adjustments on your account statement. However, if the error is less than FSB’s standard adjustment amount, FSB will not adjust the deposit unless you notify FSB of the error within 60 days of the date of your periodic statement that shows the deposit. After this notice period has passed without your bringing an error to FSB’s attention, the deposit amount indicated on the statement will be considered finally settled. That is, if the actual amount deposited was less than the amount declared on the deposit slip, the difference will become your property, and if the actual amount deposited was more than the amount declared on the deposit slip, the difference will become FSB’s property. FSB may change its standard adjustment amount from time to time without notice to youtoyou. FSB may require your personal endorsement before accepting any item for deposit. FSB may require that checks and other items you want to deposit or cash be endorsed by all parties to whom the items are payable. Before accepting an item, FSB may require verification of any endorsement, either through personal identification or through an endorsement guarantee by another financial institution acceptable to FSB. You must endorse checks in the area that extends 11⁄2 11/2 inches from the trailing edge of the back of the check. The trailing edge is the left side of the check when you look at it from the front. If you endorse a check outside of this area, if you mark or otherwise obscure other areas of the check, or if your endorsement is illegible or incomplete, you agree to assume responsibility for and to indemnify FSB for any loss, delay, liability, claim, or damage which occurs as a result.