Define: Electronic Deposit

How is Electronic Deposit defined in a legal contract?

• Electronic Deposit means the set of transmitted information that allows the deposit, processing, and collecting of an item. This information includes check images and deposit account details among other things. Seen in 12 SEC Filings
• Electronic Deposit means a file that includes information related to each electronic image to be submitted, meeting all requirements imposed by the [bank]. Seen in 9 SEC Filings
• Electronic Deposit means all digitally obtained information, such as check images and dollar values, from processing an original paper check that is transmitted for deposit, processing, and collection. Seen in 8 SEC Filings
• Electronic Deposit means a file containing information about each Sufficient Image that is transmitted, meeting all the requirements imposed by the [bank]. Seen in 4 SEC Filings
• Electronic Deposit means a set of transmitted information necessary for deposit, processing, and collection of an item, including check images, dollar value information and deposit account information. Seen in 3 SEC Filings
• Electronic Deposit means an electronic funds transfer that includes the total sum of the converted paper check payments. Seen in 3 SEC Filings

Please note - replace [bank] with your bank name where required.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of electronic deposit' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Electronic Deposit means a transmitted set of information or a file enabling deposit, processing, and collection of a check image, meeting all necessary requirements.

Relevant Contract Types

• Banking and Finance Agreements
• E-commerce Agreements
• Service Level Agreements
• Payment Processing Agreements

Relevant Circumstances

• Online sales transactions
• Enabling digital payments for goods or services
• Virtual banking or fintech operations
• Contractual agreements where electronic funds transfer is stipulated

Relevant Sectors

• Fintech
• E-commerce
• Banking
• Retail

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Genie Definition 2

Electronic Deposit means an electronic funds transfer of the converted total sum of paper check payments.

Relevant Contract Types

• Subscriptions and Recurring Billing Agreements
• Payment Processing Agreements
• Direct Debit Mandates

Relevant Circumstances

• Payment for ongoing services or subscriptions
• Agreements necessitating routine electronic transfers
• Transactions involving conversion of paper checks to electronic payments

Relevant Sectors

• Fintech
• Telecommunications
• Media and entertainment
• Utilities

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