55A - RESO - DEPOSITORY SRVS - Laserfiche WebLink

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the Customer wishes to return_ The Bank Is drifted to rely on arty Instructions that A receives and that it reasonably believes to be genuine. The Bank shall return all such transactions and make corresponding adjustments to the Customer's account to which the transactions had been posted. Aft transactions reported to the Customer as to which Bank does not receive a timely return instruction from the Customer will remain posted.. (el) The following types of ACH transactions will not be made available for the Customers review ands decisloningr debits or credits to the Customer's account to offsel any ACH Entries originated by the customer through the Bank; reversals of previously received ACH Entries; returns or reversals by the RDFI of ACH Entries originated by t'hie Customer through the Bank, Reclamation Entries, dlebits or credits to the Customer's account initiated by the Bank or Bank's agent to correct processing errors, effect beck valuations, make other adjustments, or to comply with legal reuluirernerris or for fees or charges the Customer owes the Bank; and if the Customer is also subscribing to the ACH Debit Block service, any transactions blocked and returned pursuant to that service. (e1 Certain transactions reviewed and approved by the Customer may nevertheless be re'Gurned by the Bank. This will happen if 0) there are insufficient funds in the Customer's account to cover the amount of an ACH debit or other charge, lily a stop payment was previously placed on the transaction or (iii) the Bank determines the transaction must be returned for legal or regulatory reasons. Certain transactions that the Customer advises should be returned may neverttreleas be posted by the Bank, these Include ACH debits or credits to the Customer's account that the Bank posts pursuant to its Internal procedures in carder to comply with applicable law, regulations or payment system rules or guidance,. C. U.S. Funds Transfer J,P. Morgan 's Funds Transfer Service enables the electronic transfer and settlement of funds between the Customer and a beneficiary of the payment .. to destinations around the world. Customers use USD funds transfer services (as opposed to checks or ACH payment services) when they seek same -day settlement with intraday finality and irrevocability of payments. 11 Service, The Customer may issue payment orders against its accounts with the Bank by means of SWIFT, electronically, by telephone or by such other method as the Customer and the Bank may agree upon. All funds transfer inshructioris sent to the Bank shall be in the format specified by the Bank and must be received by the Bank no later than such time as may be established by the Bank upon notice to the Customer, The Bank will determine the order In which It processes payment orders. if the Customer's payment order beers the eodeword "PRIORITY' or 'TIMED" in such field as the Bank specifies, the Bank will use reasonable efforts to move such payment, order to the front of the Bank's processing queue, and such payment shall be handled in accordance with the Bank's procedures for processing such payments 2',. Security Procedures. All payment orders and communications requesting amendment of payment orders issued in the Customer's name are subject to verification by the Bank in accordance with the security procedures agreed upon between the Customer and the Bank. Such security procedures may be set forth in written agreements between the Customer and the Bank. 1 Advises. The Customer may subscribe to Bank services for the delivery of account related activity and information (sAlvmces' "i, to a party designated by the Customer, including but not limited to information relating to credits and debits to a Customer account,, and the return or rejection of certain payments. Advices may be sent via SWIFT or to devices capable of receiving text massages, such as alphanumeric pagers and cellular phones, or as otherwise agreed upon by the parties.. The Customer is responsible for maintaining the accuracy of lire information that is required to deliver such Advises, educing but not limited to the address and/or telephone number of the recipient and, if applicable, the messaging components and conditions that will trigger the transmission of the Advices. 24. Processing. The Bank reserves the right to use any funds transfer system and any intermediary bank in the execution of any funds transfer Instruction and may otherwise use any means of executing the funds hansfar Instruction which the Bank deems reasonable in the circumstances The Bank and other financial institutions may rely upon the identifying number of the beneficiary, the beneficiary's bank or any intermediary bank included in the funds transfer. Also, the beneficiary's bank in the funds transfer Instruction may make payment on the basis of the identifying number even though I identifies a person different from the named beneficiary.. 5.. Sarno -Diy Amenrtrrruit and Cancellation Service. The Customer may subscribe to a service to enable sarne -day amendment and cancellations of payment orders. Once the Bank has expressly approved the customer's use of the service, all cancellation .. or amendment messages sent to the Bank shalt., be in the format specified by the Bank and moist be received by the Bank no later than such time as may be established by the Bank upon notice to the Customer e. Reference Pattern Search, The Customer may subscribe to a service to enable the Customer to instruct the Bank to repair information on incoming and outgoing payment orders, . and to perform additional services related to beneficiary deduction services. The Customer shall comply with such formatting requirements specified by the Bank in connection with such services. In connection with beneficiary deduction services, the Customer represents and warrants that it has obtained all necessary aufharlxal'lons to enable the Bank to deduct transaction charges horn the funds transfer amount payable to the beneficiary. 55A -137 PN:350 %t 4 talc' fdi: 4 Page 27 of 51