Common use of Check Verification Clause in Contracts

Check Verification. We typically process checks on an automated basis, based on the information encoded on the items (the check’s magnetic ink character recognition (MICR) line). This means that we may not visually examine each, or any, of your checks to determine if they are properly completed, signed or endorsed, and we assume no duty to identify and/or return duplicate checks, checks with duplicate serial numbers, mis-encoded items or checks lacking an encoded serial number. We have no duty to review any check that you deposit or cash to determine if it is altered, forged, fraudulent or counterfeit. Although we may review checks from time to time, you understand and agree that reasonable banking and commercial standards do not require us to do so.

Check Verification. We typically process checks on an automated basis, based on the information encoded on the items (the check’s magnetic ink character recognition ([MICR) ] line). This means that we may not visually examine each, or any, of your checks to determine if they are properly completed, signed or endorsed, and we assume no duty to identify and/or return duplicate checks, checks with duplicate serial numbers, mis-encoded items or checks lacking an encoded serial number. We have no duty to review any check that you deposit or cash to determine if it is altered, forged, fraudulent or counterfeit. Although we may review checks from time to time, you understand and agree that reasonable banking and commercial standards do not require us to do so.