ANSI X9 37:2001 pdf download.Specifications For Electronic Check Exchange.
ANSI X9 37 establishes the file sequences. record types, and field formats to be used for the electronic exchange of check MICR line and associated check processing data.
ANSI X9 37 does not address operational, implementation, or settlement is sues. These issues may include, but are not limited to: choice of compression (e.g., Blank compression), encryption (e.g., DES. Clipper), transmission specifications (e.g., protocols. line spreads). and data representation (e.g.. ASCII, EBCDIC). The informative annexes attached to this standard provide information which may prove useful to those planning on implementing the standard.
1.2 Presentment disclaimer
“Presentment” is used throughout this standard in a colloquial sense only: to refer to or to describe an operational process, the movement of checks and check- related data from a collecting bank to a paying bank.
In no instance shall use of the term “presentment” in the standard be construed as a legal definition of presentment, or as a description of when presentment as a legal event occurs. Nor does its use in any way define the legal rights and responsibilities of parties participating in the check clearing process. or parties otherwise interested in a check.
ANSI X9 37 shall not he used by parties in dispute to define legal standards of conduct in the check clearing process, and cannot be relied upon in that context. Parties interested in the legal standards governing the check clearing process should consult the Uniform Commercial Code, Regulatkn CC – Availability of Funds and Collection of Checks, Federal Reserve Operating Circulars, Clearinghouse rules, other clearing agreements. relevant case law, and other sources of applicable law.
3 General definitions
3.1 account number: The number used by a hank to identify a customer’s account. It is usually contained in the On Us Field of the MICR line.
3.2 adjustment: An accounting entry to correct errors on cash letters or checks.
3.3 all electric check: a generic term designating a negotiable instrument that has only existed in an electronic form.
3.4 amount field: Positions 1-12 of the MICR line on a document, where the dollar amount is encoded.
3.5 auxiliary on us field: A variable format, optional field in the MICR line, located to the left of the Routing field, used at the discretion of the On-Us tinancia I institution.
3.6 hank of first deposit (BFD): The first institution, legally chartered or licensed to collect or pay checks deposited by a company or individual, in which a check has been deposited. It is also the institution to which a check would be iturned in the event of non-payment, for return to the depositor. Also referred to as the depositary hank.
3.7 box: A physical package used for storing and transporting checks.ANSI X9 37 pdf download.