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Clearing House Electronic Check Clearing System ("CHECCS") Operating Rules

IP.com Disclosure Number: IPCOM000242148D
Original Publication Date: 2011-Jan-01
Included in the Prior Art Database: 2015-Jun-19

Publishing Venue

Undisclosed

Abstract

Operating rules for the Clearing House Electronic Check Clearing System.

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 5% of the total text.

Page 01 of 45

CLEARING HOUSE ELECTRONIC CHECK CLEARING SYSTEM

("CHECCS")

OPERATING RULES

As amended through October 7, 2009

Modifications indicated herein are to the ECCHO Rules dated February 2011


Page 02 of 45

CLEARING HOUSE ELECTRONIC CHECK CLEARING SYSTEM ("CHECCS")

OPERATING RULES

    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 Participants. 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 Participants. See www.svpco.com for a list of the services and features provided by CHECCS. CHECCS Participants may exchange items under these Rules via the following service: a Participant bank receives in the normal 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 amended from time to time, also covers the Image-Based Truncation Service and is made part 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 © 2011 The Clearing House Payments Company L.L.C. All rights reserved.


Page 03 of 45

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XI. Obligations of Organization; Clearing House;


XIII. Amendments;


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 Participant means the total dollar amount of physical Items identified in pres...