Common use of Postdated Checks and Certain Other Checks Clause in Contracts

Postdated Checks and Certain Other Checks. You agree that when you write a check you will not date the check for a date in the future. If you do and the check is presented for payment before the date on the check, we or the Paying Bank may return it unpaid, but there is no obligation for either us or the Paying Bank to do so. If the check is paid it will be posted to your Brokerage Account on the day of presentment and neither we nor the Paying Bank will be liable to you for paying the check prior to the date on the check or for any losses you may incur as a result.