Common use of Additional Provisions Relating to Checks and Deposits Clause in Contracts

Additional Provisions Relating to Checks and Deposits. The Branch shall not be liable for any errors, negligence, default, misconduct or insolvency on the part of any agent selected by the Branch, or any sub-agent selected by such agent, any such agent or sub-agent being deemed an agent of the Depositor. In collecting any check or similar items, the Branch and any collecting agent may accept the drafts or credits of any Branch, drawee, acceptor or payor in lieu of cash. If payment of any check or similar item would exceed the credit balance on any account of yours or exceed any authorized overdraft limit, the Branch may, in its sole discretion, make such payment only up to the amount of such credit balance or overdraft limit The Branch is under no obligation to honor any restrictive legend on any check signed, accepted or endorsed by you. You shall at all times exercise due care to prevent checkbooks or blank checks of yours from coming into the possession of unauthorized persons and to prevent any instruction, check or similar item from being altered, lost or forged. You shall immediately report to the Branch in writing, by facsimile or electronic mail, the theft, loss or alteration of any check or checkbook.

Additional Provisions Relating to Checks and Deposits. The Branch shall not be liable for any errors, negligence, default, misconduct or insolvency on the part of any agent selected by the Branch, or any sub-agent selected by such agent, any such agent or sub-agent being deemed an agent of the Depositor. In collecting any check or similar items, the Branch and any collecting agent may accept the drafts or credits of any Branch, drawee, acceptor or payor in lieu of cash. If payment of any check or similar item would exceed the credit balance on any account of yours or exceed any authorized overdraft limit, the Branch may, in its sole discretion, make such payment only up to the amount of such credit balance or overdraft limit The Branch is under no obligation to honor any restrictive legend on any check signed, accepted or endorsed by you. You shall at all times exercise due care to prevent checkbooks or blank checks of yours from coming into the possession of unauthorized persons and to prevent any instruction, check or similar item from being altered, lost or forged. You shall immediately report to the Branch in writing, by facsimile or electronic mail, the theft, loss or alteration of any check or checkbook.UNIVERSAL ACCOUNT AGREEMENT