Common use of Full Account Reconciliation Clause in Contracts

Full Account Reconciliation. The Service will provide an Account reconciliation of Customer’s Account by matching the Check Issue File provided by Customer containing the Check Register Information against Checks actually paid from the Customer’s Account for the respective reconciliation period selected by Customer. Customer can send Check Issue File through Business Online Banking. a) Process. On any day, whether or not a Business Day, on which Customer issues any Check or other debit Item drawn on the Account, Customer shall prepare and electronically transmit to Bank, prior to the Cut-off, the required Check Register Information identifying each Check issued. If Customer is unable to electronically transmit Check Register Information on the day of such issue, Customer shall electronically transmit such Check Register Information to Bank on the next Business Day. b) Accuracy and Timeliness of Information. Customer represents and warrants that all Check Issue Files provided to Bank by Customer will be accurate and complete. Customer accepts full responsibility for the accuracy of the Check Issue File. Bank will use reasonable efforts to provide the reports requested through the Service in a prompt fashion, but shall not be liable for temporary failure to provide timely information. In such event, Customer shall be responsible for carrying out banking business through alternative delivery channels.