Common use of Postdated and Staledated Drafts Clause in Contracts

Postdated and Staledated Drafts. You authorize us to accept and pay any draft without regard to the date of the draft even if the draft is presented for payment before its date unless you notify the Credit Union of the postdating in writing. Your notice will be effective only if the Credit Union receives the notice in time for the Credit Union to notify its employees and reasonably act upon the notice and you accurately describe the draft, including the number, date, and amount. You understand that the exact information is necessary for the Credit Union's computer to identify the draft. If you give the Credit Union an incorrect, incomplete, or untimely notice, the Credit Union will not be responsible for paying the draft before the date stated and the Credit Union may charge your account as of the date the Credit Union pays the draft. You may make an oral notice which will lapse within fourteen (14) calendar days unless confirmed in writing within that time. A written notice will be effective for six (6) months. A written notice may be renewed in writing. You also agree not to deposit checks, drafts, or other items before they are properly payable. The Credit Union is under no obligation to you to pay a check or draft drawn on your account which is presented more than six (6) months after its date.

Postdated and Staledated Drafts. You authorize us to accept and pay any draft without regard to the date of the draft even if the draft is presented for payment before its date date, unless you notify the Credit Union of the postdating in writing. Your notice will be effective only if the Credit Union receives the notice in time for the Credit Union to notify its employees and reasonably act upon the notice and you accurately describe the draft, including the number, date, and amount. You understand that the exact information is necessary for the Credit Union's computer to identify the draft. If you give the Credit Union an incorrect, incomplete, or untimely notice, the Credit Union will not be responsible for paying the draft before the date stated and the Credit Union may charge your account as of the date the Credit Union pays the draft. You may make an oral notice which will lapse within fourteen (14) calendar days unless confirmed in writing within that time. A written notice will be effective for six (6) months. A written notice may be renewed in writing. You also agree not to deposit checks, drafts, or other items before they are properly payable. The Credit Union is under no obligation to you to pay a check or draft drawn on your account which is presented more than six (6) months after its date.

Postdated and Staledated Drafts. You authorize us to accept and pay any draft without regard to the date of the draft check, even if the draft check is presented for payment before its date date, unless you notify the Credit Union of the postdating in writingpostdating. Your notice will be effective only if the Credit Union receives the notice in time for the Credit Union to notify its employees and reasonably act upon the notice and you accurately describe the draftcheck, including the number, date, and amount. You understand that the exact information is necessary for the Credit Union's ’s computer to identify the draftcheck. If you give the Credit Union an incorrect, incomplete, or untimely notice, the Credit Union will not be responsible for paying the draft item before the date stated and the Credit Union may charge your account as of the date the Credit Union pays the draftitem. You may make an oral notice notice, which will lapse within fourteen (14) calendar days unless confirmed continued in writing writing, within that time. A written notice will be effective for six (6) months. A written notice may be renewed in writingwriting from time to time. You also agree not to deposit checks, drafts, or other items before they are properly payable. The Credit Union is under no obligation to you to pay a check or draft drawn on your account which that is presented more than six (6) months after its date.