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J.P. MORGAN CHASE BANK, N.A. 1A - 2015
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J.P. MORGAN CHASE BANK, N.A. 1A - 2015
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Last modified
7/13/2016 4:03:34 PM
Creation date
7/13/2016 3:57:09 PM
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Contracts
Company Name
J.P. MORGAN CHASE BANK, N.A.
Contract #
A-2015-303
Agency
FINANCE & MANAGEMENT SERVICES
Council Approval Date
12/15/2015
Expiration Date
12/31/2016
Insurance Exp Date
6/1/2017
Destruction Year
2021
Notes
a-2010-204
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Limitation of Liability. In no event will the Bank's liability under these terms for any damages of any kind exceed an amount equal to <br />the fees the Customer paid the Bank for the service during the twelve (12) months preceding the date on which the Customer made the <br />corresponding claim. If the Customer makes a claim during the first twelve (12) months of the service, the Bank's liability will be limited <br />to the average monthly fee the Customer paid during that time multiplied by 12. This limitation of liability is In addition to the terms set <br />forth in the Account Terms. <br />Indemnification. The Customer agrees to indemnify the Bank for any loss or expense resulting from: breach of any of the warranties <br />made by the Customer pursuant to these service terms or the Account Documentation; any claim pertaining to any warranty or <br />indemnity that the Bank makes with respect to an Item under the Check Clearing for the 21" Century Act, Federal Reserve Board <br />Regulations CC and J and all other laws, regulations and industry and clearinghouse rules applicable to Items. These indemnities are <br />in addition to those in the Account Terms and relevant Service Tomts. <br />10. Miscellaneous. The provisions of Sections 3, 5, 7, 8 and 9 shall survive termination of these Service Terms, <br />J. Check Printing <br />The Check Printing Service enables the Customer instruct the Bank to issue checks and/or documents on behalf of the Customer <br />1. Payment Orders. The Bank will execute each payment order issued by the Customer which is received by the Bank in a manner <br />described in these Service Terms or as otherwise provided by the Bank (the "Payment Order'). Payment Orders may include printing <br />of non- payment documents ( "Documents') if agreed to by the Bank based upon these Service Terms. <br />2. Cancellations. A Payment Order may be cancelled by the Customer if notice of cancellation is received by the Bank in writing from a <br />person it reasonably believes is authorized to cancel the Payment Order for the Customer ( "Cancellation "); provided, however, that a <br />Cancellation will not be effective unless and until it is received by the Batik so that the Bank has a reasonable time to act upon such <br />Cancellation and that the related Payment Order has not already been accepted by the Bank or the related check has not already been <br />issued by the Bank. A Payment Order may not be amended or modified. The Bank has no obligation to adjust or slop payment or <br />posting of a Payment Order it has accepted, <br />3. Receipt of Payment Orders and Cancellations. Customer shall transmit Payment Orders to the Bank to the location and in <br />compliance with the formatting and other requirements provided by the Bank in the operating procedures prepared for the Customer. <br />The Bank may reject any Payment Order that does not comply with this Section. <br />a, Identifying Number. The Customer acknowledges that: (a) if a Payment Order identifies its beneficiary or specifies the owner of the <br />account to be debited, as applicable, by both a name and an identifying or bank account number and the name and number identify <br />different persons, execution, or transmittal of the Payment Order, payment to the beneficiary or debit to the account to be debited may <br />be made solely on the basis of the number; and (b) if a Payment Order identifies any bank both by a name and an identifying number <br />and the number identifies a person different from the bank identified by name, any bank may rely solely on the identifying number. <br />5. Issuance of Checks /Documents. For each Payment Order accepted by the Bank, the Bank will: (a) cause a check to be printed and <br />completed; (b) cause a laser facsimile signature authorized by the Customer to be placed on the check; (c) if agreed upon, cause other <br />Documents to be completed; and (d) mail the check or send the check by courier along with any Document as agreed upon <br />(collectively, "Issue "). The Customer expressly grants the Bank the authority to Issue each check and Document. <br />E. Notice of Rejection. The Bank will promptly notify the Customer if a Payment Order is rejected by the Bank and will advise the <br />Customer as to the reason. The notice or advice shall be deemed commercially reasonable if made available through the Service or <br />given electronically, orally, by telephone or facsimile transmission. <br />7. Control. The Bank is not responsible or liable for the detection of errors contained in any Payment Order as received from Customer <br />and is entitled to rely on the information contained therein. No agreement or instruction of the Customer restricting acceptance of any <br />Payment Order is binding on tiro Bank, except as set forth in these Service Terns or in a writing signed by the Customer and the Bank <br />and the Bank has tied a reasonable opportunity to act before any affected Payment Order is executed, made or transmitted by the <br />Bank. <br />8. Reliance Upon Instructions. The Customer is responsible for, and the Bank may rely upon, the contents of any notice or instructions <br />that the Bank believes in good faith to be from the Customer without any independent investigation, The Bank shall have no duty to <br />inquire into the authority of the individual giving such notice or instruction. In the event that the Bank receives conflicting notices or <br />instructions, the Bank can act on either notice or instruction or can refuse to act. Customer shall indemnify the Bank, its officers and <br />employees and hold it and them harmless for and from any and all claims, losses liabilities and expenses arising or resulting from <br />actions taken or not taken by the Batik in conformity with the notice or instruction it receives from Customer- <br />9. Limitation of Liability. The Bank will exercise reasonable care in the performance of the Service. The Bank shall riot be liable to <br />Customer, other than as unposed by law or by these Service Tennis for failure to act in accordance with reasonable commercial <br />standards in the banking industry. Reasonable care in providing these Check Print Services shall be measured by the relevant . <br />provisions of any service levels or business requirements and the standard of reasonableness of the procedures established for the <br />transaction involved. Mere inadvertence or an honest mistake of judgment shall not Constitute a failure to perform such obligations or a <br />MY. 350914 DOC !D: 4 Page 34 (?f 51 <br />
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