Exception Checks Sample Clauses
The Exception Checks clause establishes procedures for identifying and handling deviations from standard processes or requirements within an agreement. Typically, this clause outlines the steps parties must take to report, document, and address exceptions, such as notifying the other party or seeking approval for non-compliance with certain terms. Its core practical function is to ensure that exceptions are managed transparently and systematically, thereby minimizing misunderstandings and maintaining the integrity of the contractual relationship.
Exception Checks. Each Business Day on which Bank reviews and processes Checks, Bank will use commercially reasonable efforts to review each Check and to reject any Check that Bank, in its sole discretion, determinates to be ineligible for the RDC Services (each, an “Exception Check”). “Exception Check” includes, but is not limited to, a Check that (i) is illegible or contains MICR data that is not machine- readable, (ii) was previously processed as a Check; or (iii) is drawn on banks located outside the United States and is not payable at or through a bank located within the United States. Bank will notify you of each Exception Check through the PinnBank For Business online service, or other communication channels at Bank's discretion. If you wish to attempt to deposit any Exception Check to your Authorized Account, you shall do so only by depositing the original paper check on which the Exception Check is based or as otherwise agreed between us. Even if Bank does not initially identify a Check as an Exception Check when Bank reviews and processes the Check to which the Exception Check relates, the Check or the substitute check or the alleged substitute check created by Bank from it may nevertheless be returned to Bank because, among other reasons, the paying bank determines that such item or check is illegible or missing an image. Bank's failure to identify an Exception Check shall not preclude or limit the obligation of you to us under Section 4 of Article V above. Subject to Bank's right to identify and reject Exception Checks, Bank shall be deemed to have accepted each Check that is not an Exception Check for deposit to the Authorized Account on the Business Day what Bank processes the Check, provided its Transmission to Bank is prior to the Cut-off Time. In addition, a Check will be deemed to have been deposited at the office where the Authorized Account is maintained.
Exception Checks. If you submit a Check Issued File and there are Presented Checks that do not match the information you provide in the file, we will treat them as exceptions (“Exception Checks”). We will dishonor and return all Exception Checks unless otherwise instructed with a Pay Decision (as described below). We will send you an e-mail if there are Exception Checks. The e-mail notice will inform you that an Exception Check report (“Exception Check Report”) may be accessed using the Service. The e-mail notice will be sent to the most current e-mail address we have for you in our Service files. This could be the address of your Administrator or another User. You agree to ensure that the appropriate e-mail address is kept up-to-date and is accurate at all times. Items Not Covered. Under some circumstances (e.g., if our system is down), this Service may not match your Checks Issued File information against items that have been finally paid (e.g., checks presented over- the- counter at one of our branches). As such, finally paid items may not be included in Service reports and may not show as Exception Checks. This Service also does not cover checks that we are committed to honor or pay under the applicable laws, regulations or rules governing such items.
Exception Checks. On the Business Day the comparison is performed as set forth above, we will generate a report of Checks presented: (i) where the Presentment Data on such Checks does not exactly match the Check Issue Data, or (ii) for which we do not have Check Issue Data (such presented Checks are hereinafter referred to as “Exception Checks”). We will provide you with a list of Exception Checks via the Online Banking for Business Recon Management Service on the next Business Day following the Business Day of presentment. We are not obligated to examine Exception Checks manually for signature verification or to determine the authenticity of any Exception Check.
Exception Checks. When Bank reviews and processes Company’s Electronic File, Bank shall reject Exception Checks including, without limitation, Electronic Images drawn on financial institutions located outside the United States, Electronic Images that are illegible, Electronic Images of checks previously converted to substitute checks, and Electronic Images with unreadable MICR information. Bank will not be liable for delays in the deposit of and funds availability for Exception Checks, even if such delays result from errors or other problems in the operation of the Equipment. Each Business Day on which Bank reviews and processes Company’s Electronic File, Bank will notify Company of all Exception Checks through a communication channel designated by Bank. Company agrees that if it wishes to attempt to deposit any Exception Check to Company’s Account, it shall do so only by depositing the original Check on which the Exception Check is based. Company acknowledges and agrees that even if Bank does not initially identify an Electronic Image as an Exception Check, the Substitute Check created by Bank therefrom may nevertheless be returned to Bank because, among other reasons, the Electronic Image is deemed illegible by Paying Bank. Bank’s failure to identify an Exception Check shall not preclude or limit the obligations of Company to Bank under Section 5 above.
Exception Checks. If a check is presented for payment at one of our branch teller lines that does not match a check on one of your Check Issue Reports (an “Exception Check”), we will decline to pay the check and will refer the presenter of the check to you. For Exception Checks that are presented through the normal automated check processing channels, we will provide you a report on the Business Day following the date on which the check was presented (“Exception Check Report”). We will provide the Exception Check Report to you through our Commercial Advantage Service, or Digital Banking for Business Service. (Note: You must enroll separately in Commercial Advantage, or Digital Banking). Checks will be included in the Exception Check Report when:
(i) the serial number on the MICR encoding of the check does not match the number on the Check Issue Report;
(ii) the serial number on the MICR encoding of the check is a duplicate of a serial number on a previously presented check;
(iii) the dollar amount on the MICR encoding of the check does not match the dollar amount on the Check Issue Report;
(iv) the check was previously paid without an issue;
(v) the check has a cancel (void) on file, or;
(vi) if applicable due to your election of Payee Positive Pay Service, the payee’s name on the check does not exactly match the payee’s name on the Check Issue Report.
Exception Checks. Our User Guide for this Service lists eligible U.S. Dollar checks (as well as ineligible checks). We may, without liability to you, reject Electronic Checks we determine are ineligible for this Service or that Applicable Law prohibits us from accepting through this Service (an “Exception Check”). We will notify you of each Exception Check through our CEO portal or other communication channel. You will deposit an Exception Check to your Account only by depositing the corresponding original paper check or as otherwise agreed between you and us. Even if we do not identify an Exception Check during processing, a Substitute Check may be returned to us because the Paying Bank determines it is not eligible. Our failure to identify an Exception Check will not limit your obligations to us under section 7.
Exception Checks. (a) Exception Checks will be identified and reported to Customer in an “Exception Report” made available through the Internet Banking Services or other method now or hereafter offered by Prosperity for the Services. Customer must review the Exception Report and deliver Instructions to Prosperity for each Exception Check presented therein no later than the applicable Cutoff Time, which is 12:00 p.m. (noon) Central Time on the next Business Day following issuance of the Exception Report. Customer is responsible for, and Prosperity may rely upon, the contents of each Instruction and Prosperity is not responsible for detecting any Customer error contained in any Instructions. Prosperity will act upon the most recent Instructions received by the Cutoff Time with respect to each Exception Check. Customer’s failure to timely access and review an Exception Report for any reason, including if Prosperity does not provide notice that the Exception Report is available, does not relieve Customer of its obligation to provide Instructions for each Exception Check identified therein prior to the Cutoff Time.
(b) Prosperity is not obligated to comply with Instructions received after the Cutoff Time, or in a format or medium, or at a place not specified in the Documentation, but instead may treat such Instructions as though they have not been received. In the event that an Instruction is not properly provided for any Exception Check, Prosperity will either pay or reject such Exception Check in accordance with Customer’s default elections as set forth in the Documentation. Instructions deemed to have been provided (or not provided) under this Section and Customer’s default elections for Exception Checks as set forth in the Documentation will control, notwithstanding any other communication Prosperity may have received from Customer regarding the Exception Check.