AM CST. Business Entity shall review the Presentment Report and specify which exceptions Business Entity decides to pay or return and provide an electronic decision of the reviewed exception through Extraco’s E-Business service no later than 10:30 AM CST of the same day the Presentment Report is received (“the Cutoff Time”).
AM CST. Business Entity shall review and specify which exceptions Business Entity decides to pay or return and provide an electronic decision of the ACH Exception Item through Extraco’s E-Business service no later than 10:30 AM CST of the same day the ACH Exception Item Report is received. Extraco then will process the ACH Exception Item in question according to the instructions provided by the Business Entity, if any.
AM CST. Business Entity shall review the Exception Check Report and specify which exceptions Business Entity decides to pay or return and provide an electronic decision of the reviewed exception through Extraco’s E-Business service no later than 10:30 AM CST of the same day the Exception Check Report is received. Extraco and Business Entity agree that the Check Issued File that Extraco will use to compare Presented Checks presented to Extraco for cashing, issuance of Cashier’s Checks or for other irrevocable settlement purposes will be the most recent Check Issued File received on a prior Business Day and that Extraco will decline to accept such checks not listed in such Check Issued File.
AM CST. Business Entity shall review and specify which exceptions Business Entity decides to pay or return and provide an electronic decision of the ACH Exception Item through Extraco’s E-Business service no later than 10:30 AM CST of the same day the ACH Exception Item Report is received. Extraco then will process the ACH Exception Item in question according to the instructions provided by the Business Entity, if any. REVERSE POSITIVE PAY SERVICES Payment of Presented Checks and Reporting of Exception Checks. Extraco will send to Business Entity a daily Presentment Report. It is the responsibility of Business Entity to routinely and regularly review the Presentment Report and communicate to Extraco, in a manner acceptable to Extraco and by the Cutoff Time. Business Entity’s decision to “Pay” or “Do Not Pay and Return” any such checks. If Business Entity fails to communicate its decision prior to the deadline specified herein, the checks in the Presentment Report will be automatically handled based on the Business Entity’s predetermined Default Response, which may be “Pay” or “Do Not Pay and Return” as indicated in this Agreement, Attachment A. Extraco is not liable to the Business Entity or to any third party for the payment or rejection of items or for the erroneous payment or rejection of an item, including but not limited to detecting any Business Entity error contained in any “Pay” or “Do Not Pay and Return” request sent by Business Entity to Extraco. Business Entity will ensure that all issued checks described in the Presentment Report meet the minimum check standards and specifications of the American National Standards Institute with respect to character position and information. Checks presented over-the-counter for deposit will be provided for Business Entity’s review on the following business day. Reverse Positive Pay is not available for checks presented over-the-counter for cash. The only means to ensure that such check is not paid by Extraco is for Business Entity to timely place a “Stop Payment” order; otherwise such checks may be cashed if Extraco’s standard protocols are met. Extraco will make the Exception Check Report available to Business Entity in accordance with the terms in this Agreement under the caption DELIVERY ARRANGEMENTS AND TIMING.
AM CST. The State of Texas, acting by and through the Department of Information Resources Authorized By: Signature on file_ Name: _ Xxxxxxx Xxxxxx Title: Chief Procurement Officer Date: 2/7/2017 | 4:59 AM CST _ _
