Master Payment Processing Services Agreement
Lockbox Payments Services Schedule Addendum
FirsTech will provide lockbox data and remittance processing services to Client which will be deemed Services under the Agreement.
All forms, supplies and other materials used in processing items and input data, must meet FirsTech specifications.
3. Additional FirsTech Responsibilities
FirsTech will retain images of stubs and checks data for a minimum period of one (1) year.
4. Remittance Processing Services Reliability and Responsiveness
(a) FirsTech will provide the necessary equipment to perform the remittance processing service.
(b) FirsTech will deposit payments on the same Banking Day they are processed to provide Client with the greatest availability of funds.
(c) FirsTech will plan its production schedules to process all payments each day they are received except for non-identifiable items, which will be promptly treated in accordance with mutually agreed upon exception item procedures.
(d) FirsTech will create daily posting files of payments and reversals in accordance with the specifications mutually agreed to by FirsTech and Client. Such files will be placed on the pre-designated FTP site at the agreed upon time each day for pickup by Client or its assigned agent.
5. Additional Client Responsibilities
(a) Client will provide a proven test deck of readable bill stubs for equipment testing.
(b) Client will maintain a regular business checking account with Busey Bank for purposes of accounting for the funds which originate at FirsTech’s remittance processing center.