Positive Pay Exceptions Sample Clauses

The Positive Pay Exceptions clause outlines procedures for handling discrepancies identified by a bank's positive pay system, which is designed to detect fraudulent or unauthorized checks. When a check presented for payment does not match the issuer's previously provided list of authorized checks, it is flagged as an exception. The clause typically specifies the notification process, timelines for the account holder to review and respond to exceptions, and the consequences of failing to act within the stipulated period. Its core function is to enhance security and reduce the risk of check fraud by ensuring that only authorized payments are processed.
Positive Pay Exceptions. The Positive Pay system reports to Customer any discrepancies relative to Customer’s acceptance criteria. An email is sent to the Customer daily for any presented checks that post to their account that may be termed a ‘discrepancy’ and need an exception decision. Exception Checks presented to the Bank that do not appear on or match to the Check Issue File are identified, presented to the Customer and must be “decisioned” each day. All presented checks for a Reverse Positive Pay account are treated as Exception Checks.
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Related to Positive Pay Exceptions

  • Accrued Benefits For purposes of this Agreement, the Executive’s “Accrued Benefits” shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive’s employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company for the time period ending with the Termination Date; (iii) any and all other cash earned though the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) subject to any irrevocable deferral election then in effect, a lump sum payment of the bonus, incentive compensation and other compensation reportable on Form W-2 otherwise payable to the Executive with respect to the year in which termination occurs under all bonus or incentive compensation plan or plans of the Company in which the Executive is a participant; and (v) all other payments and benefits to which the Executive may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Company, including severance payments under the Company’s severance policies and practices as in effect immediately prior to the Change in Control of the Company. Payment of Accrued Benefits shall be made promptly in accordance with the Company’s prevailing practice with respect to Subsections (i) and (ii) (provided that reimbursements due under clause (ii) must be completed no later than the end of the second calendar year following the year in which the Executive’s Separation from Service occurs) or, with respect to Subsections (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Voluntary Employee Contributions (a) Subject to the governing rules of the relevant superannuation fund, an Employee may, in writing, authorise their Employer to pay on behalf of the Employee a specified amount from the post- taxation wages of the Employee into the same superannuation fund as the Employer makes the superannuation contributions provided for in clause 24.2. (b) An Employee may adjust the amount the Employee has authorised their Employer to pay from the wages of the Employee from the first of the month following the giving of three months’ written notice to their Employer. (c) The Employer must pay the amount authorised under clauses 24.4(a) or 24.4(b) no later than 28 days after the end of the month in which the deduction authorised under clauses 24.4(a) or 24.4(b) was made.

  • Sick Leave Separation Cash Out At the time of retirement from state service or at death, an eligible employee or the employee’s estate will receive cash for their compensable sick leave balance on a one (1) hour for four (4) hours basis. For the purposes of this Section, retirement will not include “vested out of service” employees who leave funds on deposit with the retirement system.

  • Employee Contributions Any member of the bargaining unit who is hired on or after September 1, 2010 is eligible to make a voluntary contribution to the City=s Deferred Compensation Plan offered by Ameritas.

  • Newly Hired Employees All employees hired to an insurance eligible position must make their benefit elections by their initial effective date of coverage as defined in this Article, Section 5C. Insurance eligible employees will automatically be enrolled in basic life coverage. If employees eligible for a full Employer Contribution do not choose a health plan administrator and a primary care clinic by their initial effective date, and do not waive medical coverage, they will be enrolled in a Benefit Level Two clinic (or Level One, if available) that meets established access standards in the health plan with the largest number of Benefit Level One and Two clinics in the county of the employee’s residence at the beginning of the insurance year. If an employee does not choose a health plan administrator and primary care clinic by their initial effective date, but was previously covered as a dependent immediately prior to their initial effective date, they will be defaulted to the plan administrator and primary care clinic in which they were previously enrolled.