Stop Payment Disclosure

 

Item Description: I hereby order you to stop payment on the check or pre-authorized electronic funds transfer (“EFT”) described above. I warrant that the information describing the check or EFT, including: the check or scheduled transfer date, its exact amount, the check number and payee, is correct. I understand that the EXACT amount of the check or EFT is necessary for your computer to stop payment. If I give you the incorrect amount or any other incorrect information, you will not be responsible for failing to stop payment on the check or EFT.

Agreement. I agree that unless my stop payment order is received by you: (1) within a reasonable time for you to act on my order prior to final payment, certification, or similar action on the check, or (2) at least three business days preceding the scheduled date of the pre-authorized EFT, you will not be responsible for stopping payment. I also agree that I may not stop payment on any point-of-sale EFT, cashier or certified check or any check or payment guaranteed by you. I understand that my stop payment request is conditional and subject to your verification that the check has not already been paid or that some other action to pay the check has not been taken by you. I understand that the electronic submittal of this stop payment order may not be received by you until the next business day.
Duration. I understand that my stop payment order will be effective as follows: for a period of six months from the date of this request unless I release this order or renew the order for an additional 6 month period by signing a new stop payment request, in writing. I also understand there may be a charge for each stop payment order requested. Oral stop payment orders are effective for fourteen days.

Indemnification. I agree to indemnify, defend, and hold you harmless from all costs, including attorney’s fees, actions, damages, or claims related to or arising from your action in refusing payment of the check or EFT including claims of any joint depositor, payee, or indorsee or in failing to stop payment of a check or EFT as a result of incorrect information provided by me. I also agree to notify you promptly upon the issuance of any duplicate check or EFT which replaces the check or EFT subject to this order or upon return of the original check.