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Reg CC Sample Merchant Agreement
Ken Golliher, BOL Guru
Guru Bios
Question: I am trying to find a "sample" agreement to be signed by a merchant to transfer liability for Reg CC's remotely created checks rules to the merchant and away from the bank. Can you help me locate one?
Answer: If you accept remotely created checks for deposit the common suggestion is that you should modify your deposit agreements with those particular customers. There is no model form for this purpose because it would depend in part on what your current agreement says and in balance on what you wanted your arrangement to be from this point forward. Also, there is no requirement that you accept these items for deposit and by refusing them you simply eliminate the issue.
First published on BankersOnline.com 9/11/06
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