Common use of Final Posting Clause in Contracts

Final Posting. Entries received through automated clearing house (“ACH”) may be posted to the Customer’s account. All credits received for deposit (other than FedWire deposits) are provisional, subject to verification and final settlement. Information and data reported pursuant to any Service may be received prior to final posting and confirmation and is subject to correction. Customer agrees that all such data is for informational purposes and is not to be construed as final posting information and that the Depositary shall have no liability for the content of payment-related information. If the Depositary does not receive final settlement for an ACH entry, the Depositary shall be entitled to a refund from the Customer in the amount of the credit to the Customer’s account and the originator will not be considered to have paid the amount of the entry to the Customer. The Rules do not require the Depositary to provide the Customer with notice that the Depositary has received an ACH entry.

Final Posting. Entries received through automated clearing house (“ACH”) may be posted to the Customer’s account. All credits received for deposit (other than FedWire deposits) are provisional, subject to verification and final settlement. Information and data reported pursuant to any Service may be received prior to final posting and confirmation and is subject to correction. Customer agrees that all such data is for informational purposes and is not to be construed as final posting information and that the Depositary Bank One shall have no liability for the content of payment-related information. If the Depositary Bank One does not receive final settlement for an ACH entry, the Depositary Bank One shall be entitled to a refund from the Customer in the amount of the credit to the Customer’s account and the originator will not be considered to have paid the amount of the entry to the Customer. The Rules do not require the Depositary Bank One to provide the Customer with notice that the Depositary Bank One has received an ACH entry.