Common use of Retention of Original Check Clause in Contracts

Retention of Original Check. Once your check image has been credited to your Account, you must retain the Original Check securely for forty-five (45) days; and then properly dispose of it (shred/incinerate) or mark it “VOID”. You will promptly provide any retained item, or sufficient copy of the front and back of the item to the Bank as requested to aid in the clearing and collection process, to resolve claims by third parties with respect to any item, or for the Bank’s audit purposes. You agree to never deposit the Original Check or present the Original Check to us or anyone else for payment. You are responsible for any loss if an Original Check is presented for payment at a later time or has already been paid.