Common use of Retention and Disposal of Transmitted Items Clause in Contracts

Retention and Disposal of Transmitted Items. Upon your receipt of a confirmation from BFCU that we have received the image of an item, you agree to prominently xxxx the item as “Electronically Presented” or “VOID” and to securely store them for sixty (60) days to permit research if required. After this time, we require that you properly dispose of the item to ensure that it not re-presented for payment. You agree never to re-present the item. You will promptly provide any retained item, or a sufficient copy of the front and back of the item, to BFCU as requested to aid in the clearing and collection process, to resolve claims by third parties with respect to any item, or for BFCU’s audit purposes. BFCU will not be held responsible for any loss caused by your failure to secure and/or properly destroy the original checks.

Retention and Disposal of Transmitted Items. Upon your receipt of a confirmation from BFCU that we have received the image of an item, you agree to prominently xxxx mark the item as “Electronically Presented” or “VOID” and to securely store them for sixty (60) days to permit research if required. After this time, we require that you properly dispose of the item to ensure that it not re-presented for payment. You agree never to re-present the item. You will promptly provide any retained item, or a sufficient copy of the front and back of the item, to BFCU as requested to aid in the clearing and collection process, to resolve claims by third parties with respect to any item, or for BFCU’s audit purposes. BFCU will not be held responsible for any loss caused by your failure to secure and/or properly destroy the original checks.