Browse Prior Art Database

Clearing House Electronic Check Clearing System ("CHECCS") Operating Rules - Appendix A

IP.com Disclosure Number: IPCOM000242145D
Original Publication Date: 2005-Jul-29
Included in the Prior Art Database: 2015-Jun-19
Document File: 6 page(s) / 48K

Publishing Venue

Undisclosed

Abstract

Appendix A to the CHECCS Operating Rules.

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 22% of the total text.

Page 01 of 6

APPENDIX A

Banking Practices Agreement

As amended through July 29, 2005


Page 02 of 6

APPENDIX A

Banking Practices Agreement

    1. All CHECCS Participants shall be bound by the provisions of this Banking Practices Agreement ("Agreement") as amended from time to time, which is incorporated in and made part of the CHECCS Operating Rules. The ECCHO Operating Rules upon which the CHECCS Operating Rules are based can be viewed at www.eccho.org, which may be accessed by CHECCS Participants Section XIX of the ECCHO Operating Rules (Electronic Image) covers exchange of images. Section XX of the ECCHO Operating Rules (Electronic Image Returns) covers image returns.

    2. The term "presenting bank" as used in the CHECCS and ECCHO Operating rules has the same meaning as the term "collecting bank" in the ECS Design Document, as amended from time to time. The term "presenting bank" as used in this BPA has the same meaning as the term "sending bank" in the ECCHO Operating Rules. The term "paying bank" has the same meaning as the term "receiving bank" in the ECCHO Operating rules. The term "electronic image return" as used in the CHECCS and ECCHO Operating rules has the same meaning as the terms "image return disposition file" and "image cash letter return" in the ECS Design Document, as amended from time to time. The ECS Design Document can be viewed at www.svpco.com.

    3. As set forth in the preamble to the CHECCS Operating Rules, CHECCS does not include all of the services and features covered by the ECCHO Operating Rules. Therefore, only those provisions of the ECCHO Operating Rules that cover services and features included in CHECCS apply to CHECCS Participants. The provisions of the ECCHO Operating Rules that do not apply to CHECCS Participants are listed in the preamble to the CHECCS Operating Rules.

    4. The quality standards listed below supplement the minimum required quality standards prescribed in Exhibit VIII of Section XIX of the ECCHO Operating rules ("Exhibit VIII"). For the purposes of this Banking Practices Agreement, Exhibit VIII means Exhibit VIII as supplemented by this Section 4. Under Section XIX(M)(3) of the ECCHO Operating Rules, "each sending bank warrants to the receiving bank with respect to each Electronic Image sent to the receiving bank and each Electronic Image Return received or available from the receiving bank that the Electronic Image satisfies the minimum required quality standards prescribed in Exhibit VIII of the Rules." As set forth in the comment to Section XIX(H)(1) of the ECCHO Operating Rules, "receipt . . . or availability of an [Electronic Image] as provided in Section XIX(H) constitutes presentment of that Electronic Image even if the Electronic Image does not satisfy the minimum required quality standards of Exhibit VIII." As also stated in the comment to Section XIX(H)(1): "the presenting bank indemnifies the paying bank for the failure of an

Copyright © 2005 The Clearing House Payments Company L.L.C. All...