Reversing Entries. If the MEMBER discovers that any Entry it has initiated was in error, the MEMBER will notify the Credit Union immediately. The Credit Union will then notify the MEMBER as to whether the transmission of the file or the Entry for the ACH or Check21 transaction has occurred. The MEMBER will then have the sole right and responsibility to initiate a Reversing Entry in accordance with the Rules.
Appears in 2 contracts
Sources: Ach and RDC Agreement, Ach and RDC Agreement