Positive Pay. If you execute our separate Positive Pay agreement, and comply with the procedures and instructions, you will be permitted to utilize our Online Banking Services to transmit to the Service your issued check file and eligible ACH transactions for daily reconciliation with transactions presented to the Bank for payment. A daily exception report is available through this Service which allows you to review incoming exception items and instruct us to pay or return such items. Under the terms of this Service, if we do not receive your pay or return instructions for exception items by the designated deadline (cut-off time) we shall be entitled to pay suspect items. You must comply with this Agreement, and the procedures and instructions as set forth in the separate Positive Pay agreement (which you must agree to in order to use the Positive Pay Services) and any other procedures or instructions we may furnish or make available to you. Positive Pay services are subject to fees which will be separately disclosed to you.
Appears in 3 contracts
Sources: E Sign Disclosure and Agreement to Electronic Delivery, E Sign Disclosure and Agreement to Electronic Delivery, E Sign Disclosure and Agreement to Electronic Delivery