Responsibility for Check Endorsements Sample Clauses

The "Responsibility for Check Endorsements" clause assigns accountability for ensuring that checks are properly endorsed before they are deposited or processed. In practice, this means that the party receiving or depositing a check must verify that all necessary signatures or endorsements are present and valid, and may be held liable if a check is not properly endorsed. This clause helps prevent disputes and financial losses by clarifying who bears the risk and responsibility for improper or missing endorsements on negotiable instruments.
Responsibility for Check Endorsements. For all mobile check deposits, you must endorse the original paper check with your name and providing: “FOR MOBILE DEPOSIT ONLY”. If you fail to provide this endorsement, we may refuse the deposit and return it to you and you agree to indemnify the Credit Union from any liability or loss to the Credit Union arising from the payment of the original paper check without such required endorsement.
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Responsibility for Check Endorsements. For all mobile check deposits, you must endorse the original paper check with your name and providing: “FOR REMOTE/MOBILE DEPOSIT ONLY TO NWCU”. If you fail to provide this endorsement, we may refuse the deposit and return it to you and you agree to indemnify the Credit Union from any liability or loss to the Credit Union arising from the payment of the original paper check without such required endorsement. Deposit Requirements and Limits. You agree that you will only use the Service to deposit checks drawn on financial institutions within the United States, excluding its territories. For checks not falling within this requirement you must deposit those checks in person, using a night drop facility or by U.S. Mail. You agree that each check you deposit through the Service will meet the image quality standards directed in the application. Remote Deposit Capture limits are $5,000.00 per Item and $5,000 rolling weekly limit. A “Rolling Week” starts at the time of the deposit, and ends after 7 full days (example: if a deposit is made on Monday, your Rolling Week ends after the following Monday). We reserve the right to change your Rolling Week limit at any time. If your limit is changed you will be notified at least 30 days in advance of the limit change going into effect. The deposit cut-off time is 3:00pm PST on business days, excluding Saturday. Any deposits made after the cut will be processed the next business day. We may establish limits on the dollar amount and/or number of items or deposits from time to time. If you attempt to initiate a deposit in excess of these limits, we may reject your deposit. If we permit you to make a deposit in excess of these limits, such deposit will still be subject to the terms of this Agreement, and we will not be obligated to allow such a deposit at other times. Check Retention & Destruction. You agree that all checks belong to you and not to the Credit Union and that those items shall be handled in accordance with this Agreement and your Membership and Account Agreement. After our receipt of a deposit transmission we will acknowledge by electronic means our receipt of such transmission. Your electronic transmission is subject to proof and verification. You will retain the original of all imaged checks that have been deposited via Mobile Deposit for a reasonable period of time in order to verify settlement and credit or to balance periodic statements, but in no case beyond thirty-five (35) days from the date processed. ...
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Related to Responsibility for Check Endorsements

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  • Additional Endorsements The Auto and Commercial General Liability Policies shall name the Texas A&M University System Board of Regents for and on behalf of The Texas A&M University System as additional insured’s.