Common use of CHECK HANDLING AND FUNDS AVAILABILITY POLICY Clause in Contracts

CHECK HANDLING AND FUNDS AVAILABILITY POLICY. A. Check Handling 1. Collection of Checks Policy You appoint the Bank as your agent for the collection of checks, drafts, and other orders for the payment of money, including orders for payment in clearinghouse funds and wire transfers that the customer deposits with us. We will make the proceeds of these items available to the customer in accordance with our availability policy currently in effect. All credits for non-cash items received for deposit are provisional subject to final settlement. The Bank or any of its correspondents, as your agent, may accept the draft or credit of any bank or other payor in lieu of cash. The Bank will exercise ordinary care in the handling of items of deposit and withdrawal per the standards and procedures established for the transaction involved.