Check Retention Guidelines Clause Samples
The Check Retention Guidelines clause establishes the rules and procedures for how long checks must be retained by a party after they have been processed or issued. Typically, this clause specifies the minimum retention period, such as several years, and may outline acceptable storage methods, whether physical or electronic. Its core practical function is to ensure that checks are available for reference in case of disputes, audits, or regulatory inquiries, thereby supporting compliance and record-keeping requirements.
Check Retention Guidelines. ▪ Mobile Deposit Service users are required to retain the original paper items, for 14 calendar days, after they have been transmitted to the Bank (“Retention Period”). This provides sufficient time for research in case there is an issue with the image quality or if the original item is required for any other reason. During this time, the paper items should be stored in a secure place (See Section 7.e.
Check Retention Guidelines. Mobile Deposit Service users are required to retain the original paper items, for 14 provides sufficient time for research in case there is an issue with the image quality or if the original item is required for any other reason. During this time, the paper items should be stored in a secure place (See Section 7.e. Check Safekeeping Guidelines of the Mobile Deposit Service Section of this Agreement). After the retention period, the original paper items should be destroyed to ensure they are not accidentally deposited again (See Section 7. g. Check Destruction Guidelines of this Mobile Deposit Service Section of the Agreement).