Clearing House Electronic Check Clearing System ("CHECCS") Operating Rules
Original Publication Date: 2005-Jul-29
Included in the Prior Art Database: 2015-Jun-19
Operating rules for the Clearing House Electronic Check Clearing System.
Page 01 of 34
CLEARING HOUSE ELECTRONIC CHECK CLEARING SYSTEM
("CHECCS") OPERATING RULES
As amended through July 29, 2005
Page 02 of 34
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 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 two services: 1. a Participant receives in the normal course, which may be at the same time, a Presentment Notice and the Related Physical Item Check ("ECP Service") and 2. 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, as applicable, cover both exchange services. In addition, the Banking Practices Agreement, which is attached as Appendix A of these Rules, 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 current exchange services provided by CHECCS:
Copyright © 2005 The Clearing House Payments Company L.L.C. All rights reserved.
Page 03 of 34
II. Rules - Sections (D) through (I);
III. Items Eligible for Exchange; Repairs; Integrity; Items Eligible for RNOTEs - Section
IV. Packaging, Sorting and Data File Requirements; Delivery and Transmission Locations - Section (C);
V. Exchange of Notices and Items; Presentment Notices; Presentment - Section (C)(3); VIII. Preliminary Notice of Nonpayment; RNOTE; Returned Item Procedures; Returned Item Settlement; RNOTE Warranties; Presenting Bank Indemnity - Sections (A),(B),(C),
(D)(4)(only the following words at the end of (D)(4) are deleted: "and provided a designated list to ECCHO identifying that Licensed Entity or other clearing house pursuant to Section V(c))"; (F), and (G);
XI. Obligations of Organization; Clearing House;...