In the quest to meet the needs of merchant-customers, your bank may be tempted to rush into contracts with vendors of remote deposit capture technology. It is well worth your time to take a hard look at the contract before signing. Usually, and not surprisingly, the contract provided by the vendor is drafted heavily in its favor. Take a second look at your merchant-customers, too. Are they, and their employees, ready to take on the responsibility of storing checks? What measures are in place to safeguard checks and prevent double-presentment? Please read the full article on our website for more information about entering into remote deposit capture vendor and service contracts.
For further information contact a member of the Banking Law Group at Dickinson, Mackaman, Tyler & Hagen, P.C.
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