Am I wrong in interpreting that the only requirements to the ACH Originator Agreement are 1) the customer is binded to The Rules and 2) the laws of the U.S. will not be violated? The Operating Guidelines (pg OG10-12) has a list of items that "should" be defined in the agreement between Originator and ODFI. Are the items in the list recommendations or requirements?

Don't be confused. I was once told that Guidelines are just that --- guidelines. It may be great to have in your agreement but are not required by the Rules.

I would have those in my agreements and have criticized my bank for not having them.

Now you know why I'm confused! Any more guidance???

Why not include those items in the guidelines that would be helpful in communicating the obligations that you expect your orignators to comply with? They could make the argument "the bank never told me" but with the signed agreement that spells all of the items out that you want them to comply with (like OFAC compliance, etc.) or expect them to know (know what the ACH rules are), you are in a better position to enforce your agreement if problems come up. I agree with including everything you can in your agreements.

The need to include adherance to the laws of the United States was created through a negotiated settlement between NACHA and the Treasury. If you have it in your origination agreement, you (as the ODFI) are protected from the most common OFAC liability issues. It's required to be asserted to in the self-audit. Given the potential penalties, you'd be foolish not to have this protection in your agreement.