Paper Check Payments Clause Samples
The 'Paper Check Payments' clause defines the terms and procedures for making payments using physical, written checks rather than electronic or digital methods. It typically outlines requirements such as the acceptable forms of checks, the address or entity to which checks must be sent, and any timelines for when payments are considered received (for example, upon mailing or upon clearance). This clause ensures both parties understand the process and timing for check-based payments, reducing confusion and disputes over payment methods and deadlines.
Paper Check Payments. You may request that Bank stop payment on a paper draft drawn against your Account if we have not accepted, certified, made final payment on or otherwise become accountable for the item. If the paper draft has not cleared, we will immediately process your stop-payment request. To be effective, this type of stop- payment request must precisely identify the name of the Payee, the Payee- assigned account number, the amount and scheduled date of the payment, and the Payee ID number from the Bill Payment Service “Payment History” Screen. You may be required to confirm the stop payment request in writing and mail it to us within 14 days of your request. You will incur stop-payment charges as provided for in the Account Agreement.
Paper Check Payments. NorthOne will send a pre-funded paper check to the payee on Customer’s behalf using standard U.S. Postal Service mail. Please allow three to nine (3-9) business days for delivery of the check. Payments can only be sent to addresses located within the fifty (50) states of the U.S. Requests to remit checks to an international address will be denied. If a paper check has not been cashed after one-hundred-eighty (180) days after being issued, it shall be deemed expired, and the funds shall be returned to the Account within two (2) business days (less any fees set forth in Section D).