ICL File definition

ICL File means an Image Cash Letter File, an electronic transmission of check images and MICR line data sent to the Bank. MICR data means Magnetic Ink Character Recognition information in compliance with various ANSI X9 standards covering MICR placement, quality and image replacement documents
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Examples of ICL File in a sentence

  • A File is received by Bank only when a complete ICL File has been written on a Bank electronic storage device in conformity with Bank’s technical and operational requirements for sending an ICL File to Bank.

  • An ICL File which is not balanced in accordance with the Procedures or which is received after the cut-off time shall be deemed to have been received on the business day following the business day on which the ICL File is actually received by Bank.

  • To meet Bank’s cut-off times (as specified in applicable Procedures), the entire ICL File must be received prior to the cut-off time and the File must successfully pass the edits for conformity with the technical requirements.

  • We are not responsible for any losses arising directly or indirectly from damage or alteration to the ICL File prior to its receipt by us.

  • Your transmission of an ICL File is subject to our verification and final inspection.

  • Both parties will make their best effort not to impact the accuracy of the ICL File formats.

  • An ICL File must be received by us on a Business Day prior to the applicable processing cutoff hour or it will be deemed to have been received by us at the opening of our next Business Day.

  • In addition, each time you transmit a ICL File to us, directly or indirectly through your service provider or otherwise, you are deemed to make to us any representation, warranty or indemnity that we make, under applicable law, clearinghouse rule, Federal Reserve Operating Circular, bi-lateral agreement or otherwise, to any bank (including a Federal Reserve Bank and the paying bank) or other person when the Bank transfers or presents the check image or any substitute check created from that check image.

  • An ICL File shall not be deemed received by us until we receive the ICL File at a licensed location of the Bank and is accepted by us.

  • If for any reason Bank is unable to process an ICL File received before the cut-off time, Bank will use commercially reasonable efforts to resolve the next Business Day.

Related to ICL File

  • Case file means a record that is assembled and maintained for each application approved for state cost sharing.

  • Custodial File Any mortgage loan document in the Mortgage File that is required to be delivered to the Trustee or Custodian pursuant to Section 2.01(b) of this Agreement.

  • Contract File means, as to each Contract, other than a Land-and-Home Contract,

  • Data File means a single record or collection of data records that are logically related to each other, and are handled as a unit;

  • Asset File shall have the meaning assigned thereto in the Custodial Agreement.