Official checks

We currently have a third party that clears our official bank checks. We issue them through the third parties software and they are actually drawn on an outside bank.

We want to issue our own official checks drawn on an internal account. Are there any rules or regulations that I need to consider before we begin this process? I know I will need an indemnity bond for lost instruments...but are there any FDIC rules I need to consider?

Thanks for your input!

Make sure you have a process in place to track clearing of items and subsequent escheat of qualifying staledated items.

Talk to an attorney about indemnity bonds and lost/stolen/destroyed checks. Review Section 11-3-312 of the Georgia Code (section 3-312 of the UCC) before you contact the attorney. It may be unreasonable to require a bond once the 90-day waiting period has passed under the provisions of 3-312.