Common use of Final Posting Clause in Contracts

Final Posting. Entries received through automated clearing house (“ACH”) may be posted to the Account. All financial assets received for credit to the Account (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 Securities Intermediary shall have no liability for the content of payment-related information. If the Securities Intermediary does not receive final settlement for an ACH entry, the Securities Intermediary shall be entitled to a refund from the Customer in the amount of the financial assets that are to be credited to the 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 Securities Intermediary to provide the Customer with notice that the Securities Intermediary has received an ACH entry.