Clearing House Electronic Check Clearing System ("CHECCS") Operating Rules
Original Publication Date: 2009-Feb-04
Included in the Prior Art Database: 2015-Jun-19
Operating rules for the Clearing House Electronic Check Clearing System.
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CLEARING HOUSE ELECTRONIC CHECK CLEARING SYSTEM
("CHECCS") OPERATING RULES
As amended through Febrnary 4, 2009
Modifications indicated herein are to the ECCHO Rules dated December 2008
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CLEARING HOUSE ELECTRONIC CHECK CLEARING SYSTEM ("CHECCS")
The CHECCS Operating Rules include all the provisions of The Electronic Check Clearing House Organization ("ECCHO") Operating Rules except as modified herein. Modifications of the ECCHO Operating Rules are shown below as deleted/inapplicable provisions of existing ECCHO Rules, as amendments to existing ECCHO Rules, or as supplemental provisions, which are new sections added to the ECCHO Operating Rules. In other words, the CHECCS Operating Rules consist of the ECCHO Operating Rules, with amendments set forth below, minus the inapplicable provisions of the ECCHO Operating Rules listed below, plus the supplemental provisions set forth below. These modifications apply specifically to CHECCS and its Participants and are not applicable to ECCHO and ECCHO members that are not CHECCS Patiicipants. CHECCS does not include all of the services and features covered by the ECCHO Operating Rules. Only those provisions of the ECCHO Operating Rules that cover services and features included in CHECCS apply to CHECCS Patiicipants. See www.svpco.com for a list of the services and features provided by CHECCS. CHECCS Patiicipants may exchange items under these Rules via the following service: a Patiicipant bank receives in the n01mal course, which may be at the same time, a Presentment Notice and an Electronic Image ("Image-Based Truncation Service"). The Rules set forth below cover the Image-Based Truncation Service. In addition, the Banking Practices Agreement, which is attached hereto as Appendix A of these Rules, as atnended from time to time, also covers the Image-Based Truncation Service and is made pati of these Rules. The following provisions of the ECCHO Operating Rules are not included in the CHECCS Operating Rules because they are inapplicable to the Image-Based Truncation Service operated by CHECCS:
II. Rules - Sections (C) through (H);
Copyright© 2009 The Clearing House Payments Company L.L.C. All rights reserved.
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XI. Obligations of Organization; Clearing Hou,se;
XIV. Dispute Resolution Procedures;
XIX. Electronic Image - Section K(2), (3), (6), and (7).
SECTION I. - Definitions.
The following provisions supplement Section I of the ECCHO Rules:
I(A-1) Clearing House Electronic Check Clearing System ("CHECCS"). The electronic check clearing payment system/clearing house owned by The Clearing House and operated by SVPCO-ECS,(also referred to herein as "SVPCO") which is The Clearing House's electronic check clearing line of business.
I(A-2) The Clearing House or PaymentsCo. The Clearing House Payments Company L.L.C.
I(A-3) CHECCS Usage. The CHECCS Usage of a Paiticipant means the total dollar amount of physical Items identified in pr...