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Notice of Updated Treasury Management Terms and Conditions



Our current Treasury Management Services Agreement (“T/S Agreement”) was introduced in calendar year 2005. The principal documents that now constitute the T/S Agreement are as follows:

  • Treasury Management Services Authorization
  • Treasury Management Services Terms and Conditions
  • ACH Services Product Guide
  • A/R Advantage Product Guide
  • General Services Product Guide without Cash Vault
  • Investment Sweep Services Product Guide
  • Lockbox Product Guide
  • Remote Deposit Product Guide
  • Treasury Connect Product Guide
  • webAccess and Access Systems Product Guide

Effective April 2, 2010, we have made changes in the T/S Agreement to reflect changes in the clearing house rules and regulations applicable to ACH transactions. In the process of making these changes, we also made some changes of a “clarifying” and “conforming” nature. The purpose of this document is to very briefly summarize the foregoing changes. If you would like a copy of the current T/S Agreement, or those parts of the T/S Agreement that are applicable to the Services you are using, please contact us and we will provide you copies of the documents you request, at no charge to you. You can contact your Account Manager or your Treasury Management Officer, or telephone Treasury Management Support at 1-800-226-5985.


The principal changes to the T/S Agreement that are a result of changes to the rules and regulations applicable to ACH transactions are as follows: (1) ACH payments are provisional until final settlement; (2) our right to place limits and restrictions on the type of ACH Entries and the amount of each ACH Entry; (3) our right to audit you and any of your third party service providers to determine that you and they are in compliance with clearing house rules and regulations and the laws of the United States of America; (4) our right to limit, restrict, suspend or terminate your use of ACH Services, or to terminate your T/S Agreement, upon your breach, or that of any of your third party service providers, of any clearing house rules and regulations or the laws of the United States of America; and, (5) our rights and remedies, and your responsibilities and obligations, regarding stopped payment orders involving ACH transactions and other transactions. The majority of these changes are in the T/S Conditions and the ACH Product Guide.

The principal changes that are in the nature of “clarifications” pertain to the definitions of “ACH Network,” “Losses,” “Rules,” and “costs and expenses,” and in your indemnification obligations on breach of any clearing house rules and regulations or the laws of the United States of America. These changes resulted in some “conforming” changes. A “clarifying” change has also been made to the Product Guides that relate to wire transfers. The clarification makes it clear that if a beneficiary’s account number and name in an instruction refer to different persons, we will not be liable for losses resulting from the beneficiary’s financial institution paying the wrong person, even if the beneficiary’s financial institution knew or should have known that the account number and name referred to different persons.

Other changes have been made, but we do not deem these other changes material or significant.