Common use of Liability for Failure to Stop Payment of Preauthorized Transfers Clause in Contracts

Liability for Failure to Stop Payment of Preauthorized Transfers. If you order us to stop payment of EFT-ACH transfer three (3) business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damages.

Liability for Failure to Stop Payment of Preauthorized Transfers. If you order us to stop payment of an EFT-ACH transfer between accounts you hold at ▇▇▇▇ CU three (3) business days or more before the transfer is scheduled, and we do not do so, we will be liable for your losses or damagesdamages provided that you supplied us with the correct information to electronically identify the preauthorized transfer.