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Res 2006-035
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Res 2006-035
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Last modified
8/2/2006 10:34:15 AM
Creation date
8/2/2006 10:18:33 AM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Agreement
Number
2006-35
Date
2/21/2006
Volume Book
166
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<br />We offer a wide variety of treasury services. Each Service has many features and options. <br />Your treasury services representative will be happy to describe these to you and to <br />recommend those that will best meet your needs. <br /> <br />, <br /> <br />TREASURY SERVICES <br /> <br />A List of Banks and Services is enclosed with this Booklet. This list includes the names <br />of each Bank of America Corporation subsidiary bank offering Services under this Booklet <br />and the names under which we currently offer those Services. Please contact your <br />treasury services representative at any time if you wish to receive an updated list. <br /> <br />ACCOUNT RECONCILEMENT <br /> <br />Our Account Reconcilement Services will help you reconcile and manage the credit and <br />debit activity in your accounts. Detailed information regarding such Services is available <br />in the applicable User Documentation. <br /> <br />Your use of an Account Reconcilement Service does not affect any of your obligations, <br />which are described in the applicable Account Agreement, to discover and report with <br />respect to your accounts (including joint accounts where permitted): (i) unauthorized <br />signatures, alterations or endorsements on checks and (ij) unauthorized Requests and <br />other discrepancies. Your use of this Service or our receipt of information associated with <br />this Service does not increase our duty with respect to accounts or the payment of <br />checks. <br /> <br />This section applies only to ACH Services within the United States of America and does <br />not apply to cross-border ACH transactions and other International Electronic Funds <br />Transfers which are covered by the "Wire Transfers and International Electronic Funds <br />Transfers" section in this Booklet. <br /> <br />, <br /> <br />AUTOMATED CLEARING HOUSE (ACH) <br /> <br />Our ACH Services allow you to transfer funds to or from your accounts by initiating Entries <br />which may be sent through the ACH system or processed directly to accounts with us. <br /> <br />We may send Entries to any ACH processor selected by us or directly to another bank. <br />Each ACH Service is described in the applicable User Documentation. You authorize us <br />to issue Depository Transfer Checks (DTCs), as instructed by you or as reasonably <br />determined by us to be appropriate. The capitalized ACH terms appearing in italics below <br />are defined in the NACHA Rules. <br /> <br />COMPLIANCE WITH NACHA RULES AND LAWS <br />You agree to comply with the NACHA Rules for all Entries, whether or not an Entry is sent <br />through the ACH network. You act as Originator and we act as Originating Depository <br />Financial Institution (ODF/) with respect to Entries. You will deliver Entries to us as <br />provided in the User Documentation and the NACHA Rules. The NACHA Rules govern if <br />they conflict with this Booklet, except that the file specification requirements in the User <br />Documentation govern if they conflict with the NACHA Rules. <br /> <br />al <br />
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