Positive Pay Services. This Section 6 sets forth the terms and conditions under which the Bank will provide Positive Pay services ("Positive Pay") to Customer. Positive Pay compares check clearing data provided by you each day against checks presented to us for payment. All presented checks matching the check number and dollar amount identified by you in your Positive Pay File will be paid and charged against the appropriate Account. Any item presented to us for payment that does not strictly match the data you provided in a Positive Pay File will be identified either as an "Exception" or "Violation" and will be handled by us as follows:
Appears in 3 contracts
Sources: Treasury Services Agreement, Treasury Services Agreement, Treasury Services Agreement