Common use of Image Clause in Contracts

Image. Each image must provide all information on the front and back of the original check at the time presented to you by the drawer, including, but not limited to, information about the drawer and the paying bank that is preprinted on the original check, MICR information, signature(s), any required identification written on the front of the original check and any endorsements applied to the back of the original check. The image quality must meet the standards established by the American National Standards Institute, the Board of Governors of the Federal Reserve, and any other regulatory agency, clearing house or association. You agree to follow any and all other procedures and instructions for use of the service as the Credit Union may establish from time to time. You are responsible for inspecting and verifying the quality of the images associated with image items, thus ensuring that the digitized images of the front and back of original checks are legible for all posting and clearing purposes by the Credit Union. Specifically, you are representing and warranting to the Credit Union that: • The image item is an accurate representation of all information on the front and back of the original check at the time the original check was converted to an image item; • The image item contains all endorsements from the original check necessary and as required by this agreement; • Original checks are handled, processed, maintained and destroyed as required by this agreement; • Ensure that neither the Credit Union nor any other financial institution (depositary, collecting, or payor), drawee, drawer or endorser receives presentment or return of, or otherwise is charged for a check or image item more than once in any form; and • Each image item (or related electronic data file) contains a record of all MICR line (special characters printed on the bottom of the check) information required for a substitute check and otherwise satisfies all of the requirements of the American National Standards Institute (ANSI) X9.37 standards for image quality required by Check 21 and Regulation CC for the creation and/or transferring of a substitute check created from that Image Item. All images processed for deposit through Mobile Deposit will be treated as “deposits” under your current Terms and Conditions Account Agreement with us and will be subject to all terms of the Terms and Conditions Account Agreement. Upon receipt of the digital image, we will review the image for acceptability. We shall not be deemed to have received the image for deposit unless you receive the confirmation message which indicates that the deposit was successful. Confirmation does not mean that the image contains no errors. We are not responsible for any image that we do not receive. Following receipt, we may process the image by preparing a “substitute check” or clearing the item as an image. We reserve the right, at our sole and absolute discretion, to reject any image for remote deposit into your account. We will notify you of rejected images. You understand that any amount credited to your account deposited using the services is a provisional credit and you agree to indemnify us against any loss we suffer because of our acceptance of the remotely deposited check.