Common use of POSTDATED AND STALEDATED Clause in Contracts

POSTDATED AND STALEDATED. DRAFTS - You agree not to draw or issue any draft that is postdated. If you do draw or issue a draft that is payable on a future date, we shall have no liability if we pay it before its payment date. You agree not to deposit drafts, checks, or other items before they are properly payable. We are under no obligation to pay a draft/check drawn on your account that is presented more than six (6) months after the date it was written. If, however, the draft/check is paid, the Credit Union shall have no liability for such payment.

POSTDATED AND STALEDATED. DRAFTS - You agree not to draw or issue any check or draft that is postdated. If you do draw or issue a check or draft that is payable on a future date, we shall have no liability if we pay it before its payment date. You agree not to deposit drafts, checks, drafts or other items before they are properly payable. We are under no obligation to pay a draft/check or draft drawn on your account that is presented more than six (6) months after the date it was written. If, however, the draft/check or draft is paid, the Credit Union credit union shall have no liability for such payment.