Title Page - The School District of Palm Beach County

Title Page 

Proposal from JPMorgan Chase Bank, N.A. to 

Provide Banking Services to 

The School District of Palm Beach County 

Solicitation No. 12C-009C 

May 7, 2012 

JPMorgan Chase Bank, N.A. 

Government, Not-for-Profit & Healthcare Division 

Ralph Hildevert, Relationship Manager 

1450 Brickell Ave, 33 rd Floor 

Miami, FL 33131 

(305) 579.9320 

Email: ralph.hildevert@chase.com

Request for Proposal for Banking Services 



Disclosure Statement 

This document was prepared exclusively for the benefit and internal use of the party to whom it is directly addressed and delivered 

(the “Agency”) in order to assist the Agency in evaluating certain products or services that may be provided by J.P. Morgan. 

J.P. Morgan is a marketing name for the Investment Banking, Asset Management and Treasury & Securities Services businesses 

as well as the Commercial Banking, Mid-Corporate and Real Estate client segments of JPMorgan Chase & Co. and its subsidiaries 

worldwide. Securities, syndicated loan arranging, financial advisory and other investment banking activities are performed by J.P. 

Morgan Securities Inc. and its securities affiliates. Lending, derivatives and other commercial banking activities are performed by 

JPMorgan Chase Bank, N.A. and its banking affiliates (“JPMorgan Chase Bank”). J.P. Morgan deal team members may be 

employees of any of the foregoing entities. 

All cash management arrangements, including pool implementations, are subject to the satisfaction of legal, tax, and credit due 

diligence. The Agency will be required to sign an agreement with J.P. Morgan. J.P. Morgan does not provide advice on the fiscal 

issues related to treasury structures and recommends that the Agency consult with its legal and tax advisors prior to entering into 

any pooling arrangement. The Agency is responsible for its own independent assessment as to the suitability and appropriateness 

of the services and any of the investments hereunder for the needs and requirements of its business. 

With respect to investments in mutual funds, the Agency is responsible for reviewing the current prospectus, which contains 

information about the fund(s) including management fees and expenses. Affiliates of JPMorgan Chase Bank provide services to the 

fund(s) and receive fees from the fund(s) for such services as described in the prospectus, including acting as investment advisor, 

administrator, custodian, distributor and shareholder servicing agent. JPMorgan Chase Bank receives fees from its affiliates for 

providing services to the J.P. Morgan’s clients that invest in the fund(s). J.P. Morgan does not offer any advice or recommendation 

on investing in a fund to its clients. An investment account established with respect to a fund(s) is not a deposit account and neither 

such account nor shares in the fund(s) are insured by the Federal Deposit Insurance Corporation, and shares in the fund(s) are not 

the obligations of, and are not guaranteed by JPMorgan Chase Bank or the U.S. government. There is no assurance that a fund will 

be able to maintain a stable net asset value of $1.00 per share. Investments in mutual funds involve risk, including possible loss of 

principal. The Agency should make its own independent investment assessment as to the suitability and appropriateness of the 

services and the investments hereunder for the needs and requirements of its business, and assumes all risk of loss resulting from 

any decision it makes to purchase, exchange or sell shares of the fund(s), or to authorize the same on its behalf. 

NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE 

Call 1-800-766-7722 for a fund prospectus. You can also visit us online at www.jpmorganfunds.com. Investors should 

carefully consider the investment objectives and risk as well as charges and expenses of the mutual fund before investing. 

The prospectus contains this and other information about the mutual fund. Read the prospectus carefully before investing. 

J.P. Morgan Funds are distributed by J.P. Morgan Distribution Services, Inc., which is a subsidiary of JPMorgan Chase & Co. 

Affiliates of JPMorgan Chase & Co. receive fees for providing various services to the funds. Securities may be provided by J.P. 

Morgan Institutional Investments, Inc., member FINRA/SIPC. 

An investment in a money market fund is not insured and is not guaranteed by the FDIC or any other government agency. They are 

not obligations of or guaranteed by JPMorgan Chase Bank, J.P. Morgan Institutional Investments, Inc. or their affiliates. Securities, 

including money market funds involve investment risk. Past performance is not indicative of future performance. Yields will fluctuate. 

Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the 

Fund. Some investors may be subject to the Federal Alternative Minimum Tax and to certain state and local taxes. 

J.P. Morgan is licensed under U.S. Pat Nos. 5,910,988 and 6,032,137. 

This proposal is subject to and conditioned upon a mutually agreeable contract between the Agency and J.P. Morgan. J.P. Morgan 

also requires execution of all applicable product and service agreements. 

This document may contain information that is confidential and/or proprietary to JPMorgan Chase & Co. Such information is marked 

“confidential” and may not be copied, published or used, in whole or in part, for any purpose other than as expressly authorized by 


The following is required pursuant to regulations adopted under Section 326 of the Uniting and Strengthening America by 

Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act (USA PATRIOT Act) of 2001: 

To help the United States government fight the funding of terrorism and money laundering activities, U.S. law requires banks and 

certain other financial institutions to obtain, verify, and record information that identifies each client that opens an account. What this 

means for our clients: Before opening a new account, we will require you to provide name, address, taxpayer identification number, 

and other information and/or documentation that will allow us to identify the account owner(s), as required by law. 

All trademarks, trade names and service marks appearing herein are the property of their respective owners. 

© 2012 JPMorgan Chase Bank, N.A. All Rights Reserved. Member FDIC. 

J.P. Morgan supports sustainable business practices and adheres to the principles of 

environmental sustainability wherever possible. 

Page i




Table of Contents: 

Title Page ................................................................................................................................ 1 

Table of Contents: .................................................................................................................. ii 

Letter of Transmittal: ............................................................................................................. 1 

Request for Proposal: ............................................................................................................ 3 

REQUESTED MODIFICATION OF TERMS .......................................................................... 4 

Experience and Qualifications of the Firm: ......................................................................... 8 

Qualifications of Staff: ......................................................................................................... 11 

Approach / Methodology: .................................................................................................... 14 

10.0 SCOPE OF SERVICES ............................................................................................ 14 

Time of Completion: ............................................................................................................ 36 

Executive Summary: ............................................................................................................ 37 

Cost of Services: .................................................................................................................. 39 

Cost and M/WBE: ................................................................................................................. 40 

Insurance: ............................................................................................................................. 41 

MEMORANDUMS OF INSURANCE .................................................................................... 43 

13.0 Information Requested From All Proposers ............................................................. 48 

13.37 GENERAL BANKING SERVICES AND SCHOOL ACTIVITY ACCOUNTS ........ 69 

14.0 References .................................................................................................................. 143 

15.0 Sample Reports and Contracts ................................................................................ 147 

16.0 MWBE/SBE ................................................................................................................. 148 

Forms 

Form 1. Debarment Certification 

Form 2. Area Representative 

Form 3. Drug Free Workplace Certification 

Form 4. Beneficial Interest and Disclosure of Ownership Affidavit 

Appendices 

Appendix 1. Availability Schedules 

Appendix 2. Account Analysis User Guide 

Appendix 3. Chase At Work Program 

Appendix 4. Purchasing Card Proposal 

Appendix 5. Sample Project Plan 

Appendix 6. Chase Branch Network 

Appendix 7. Business Resiliency Program 

Page ii




Appendix 8. J.P. Morgan CRA Commitment 

Appendix 9. Deposit Preparation Guides 

Appendix 10. Deposit Bag Specifications 

Appendix 11. J.P. Morgan ACCESS Sample Reports 

Appendix 12. Chase Access Prepaid Card 

Appendix 13. Sample Service Agreements 

Appendix 14. Sample Account Analysis Invoice 

Appendix 15. Insurance Coverage 

Appendix 16. Custody Pricing Sources 

Appendix 17. Account Reconcilement Program 

Appendix 18. Sample DDA Statement 

Appendix 19. Sample Custody Statement 

Appendix 20. Sample Collateral Statement 

Page iii




Letter of Transmittal: 

May 7, 2012 

Carol Moore, Purchasing Department 

Palm Beach County School District 

3300 Forest Hill Blvd, Ste A-323 

West Palm Beach, Florida 33406-5813 

RE: Request for Proposal: Solicitation No. 12C-009C 

Dear Ms. Moore: 

J.P. Morgan Chase Bank, N.A. (“J.P. Morgan”) would like to thank the School District of Palm Beach County 

(“the District”) for the opportunity to respond to its Request for Proposal (RFP) for Banking Services. J.P. 

Morgan is pleased to have this opportunity to present innovative banking solutions to the School District. 

J.P. Morgan has the scope and scale necessary to provide leading solutions to the full range of banking 

services requested in this RFP and will work diligently with you to provide and implement a comprehensive 

solution for the complete scope of banking services that meet or exceed your requirements should the 

opportunity be presented. We have provided comprehensive banking services for more than 100 years. 

Beginning with quality management programs and annual investments in product development and 

technology, we have committed significant resources to continuously improve service quality and product 

lines. 

Our Treasury Services business is a top-ranked, full-service provider of innovative payment, collection, 

liquidity and investment management, trade finance, commercial card and information solutions to 

governments and municipalities, financial services institutions, middle market companies and small 

businesses worldwide. With more than 135,000 clients and operations in 60 countries, J.P. Morgan Treasury 

Services is one of the world's largest providers of treasury management services. 

J.P. Morgan differentiates itself through excellent implementation and project management, as well as client 

service. These are critical components to ensuring the successful rollout and adoption of centralized cash 

management systems, since the Palm Beach County School District will need to have confidence in the 

capabilities of your selected bank to understand and respond in a timely fashion to your requirements. 

J.P. Morgan is proud of the reputation it has built for outstanding service delivery in the marketplace. We are 

glad to provide the School District of Palm Beach County with a dedicated Banker, Treasury Sales Manager 

and Client Service Professional located in South Florida. 

We would like to offer the School District of Palm Beach County a waiver of charges for the first three (3) 

account analysis statement cycles incurred during the implementation and post implementation period, not to 

exceed $45,000. This waiver is intended to assist the District to circumvent possible duplicate charges as you 

transition from your current financial institution to J.P. Morgan. 

Page 1




Requested Modification of Terms 

J.P. Morgan has delineated below the terms or conditions that we respectfully request be modified along with 

our recommended revisions. We are, of course, willing to discuss mutually agreeable modifications to the 

contract terms. Our proposal is not contingent upon the following requested changes. 

The proposed changes are indicated by additions in italic, underlined, red text and deletions by strikethrough, 

red text. 

All information contained herein is completed and certified to the best knowledge of the undersigned. 

25.0 LEGAL REQUIREMENTS 

25.1 It shall be the responsibility of the proposer to be knowledgeable of all federal, state, 

county and local laws, ordinances, rules and regulations and Board Policies that in any 

manner affect the items covered herein. Specifically, proposer(s) is to adhere to Board 

Policies 3.12 and 3.13, with respect to any criminal arrests and convictions, and is on 

notice that any employees failing the employee screening under Chapter 435, Florida 

Statutes, are precluded from providing services to the District and must be replaced. The 

proposer’s failure to comply may result in the immediate termination of the contract at the 

sole discretion of the Board. Lack of knowledge by the proposer(s) will in no way constitute 

cause for relief from responsibility. 

J.P. Morgan warrants and represents that all J.P. Morgan employees who will specifically perform 

services for the District will have successfully passed the requirements for employment under 

applicable federal law and J.P. Morgan criminal convictions policy. These requirements include, 

but are not limited to, restrictions under Section 19 of the Financial Institution Reform and Recovery 

Act ("FIRREA") wherein no individual can be involved in a position of influence or control of the 

management or affairs of an insured institution if that individual has a conviction for a criminal 

offense involving breach of trust, crime of dishonesty, money laundering, embezzlement, fraud, 

theft, criminal conspiracy or the sale, distribution, manufacture of or trafficking in controlled drugs 

and substances. 

27.0 CONFLICT OF INTEREST 

27.1 All proposers must disclose the name of any officer, director, or agent who is also an 

employee of the District. All proposers must disclose the name of any District employee 

who owns, directly or indirectly, any interest in the proposers' business or any of its 

branches. 

JPMorgan Chase Bank, N.A. has banking and other business relationships in the normal course of 

business with various persons or entities, which may include employees of the District, who may 

also own stock in our parent company. Such relationships generally are governed by our usual and 

customary terms and conditions. While the undersigned has no actual knowledge that any officer, 

director or agent is also a District employee, without a comprehensive list of all employees of the 

District, it is not possible to say with any certainty that there are no such relationships nor is it 

possible to do the due diligence required to respond. However, the JPMorgan Chase Code of 

Conduct prohibits any employee in general from acting on behalf of the bank in any transaction or 

business relationship involving such employee, members of his/her family, or other persons or 

organizations with which such employee or his/her family have any significant personal connection 

or financial interest.




29.0 INDEMNIFICATION / HOLD HARMLESS AGREEMENT 

29.1 Awarded proposers shall, in addition to any other obligation to indemnify The School 

Board of Palm Beach County, Florida and to the fullest extent permitted by law, protect, 

defend, indemnify and hold harmless the School Board, its agents, officers, elected 

officials and employees from and against all claims, actions, liabilities, losses (including 

economic losses), costs arising directly out of any actual or alleged; 

A. bodily injury, sickness, disease or death, or injury to or destruction of tangible property 

including the loss of use resulting therefrom, or any other damage or loss arising out of, 

or claimed to have resulted in whole or in part from any actual or alleged negligent act 

or omission of the awarded proposer, Contractor, subcontractor, anyone directly or 

indirectly employed by any of them, of anyone for whose acts any of them may be liable 

in the performance of the work; or 

B. violation of law, statute, ordinance, governmental administration order, rule or 

regulation by Contractor in the performance of the work; or 

C. liens, claims or actions made by the awarded proposer or any subcontractor or other 

party performing the work. 

29.2 The indemnification obligations hereunder shall not be limited to any limitation on the 

amount, type of damages, compensation or benefits payable by or for the awarded 

proposer relating to of any subcontractor under workers' compensation acts; disability 

benefit acts, other employee benefit acts or any statutory bar. . With respect to all other 

indemnification obligations, awarded proposer shall not be liable for special, 

consequential, indirect, exemplary, punitive or incidental damages, including lost profits, 

for any loss or damages arising from or relating to the contract or the services provided 

(including without limitation all of the indemnities and other liabilities referred to herein) 

regardless of the form of action or theory of recovery, even if it has been advised of the 

possibility of those damages. For all claims under any the contract, and regardless of the 

basis on which the claim is made, the awarded proposer’s liability shall be limited in the 

aggregate in any year to the fees collected by the awarded proposer for the services 

provided by the awarded proposer to the School Board in that year, provided that, in no 

event shall the awarded proposer’s aggregate liability exceed two times the fees collected 

by the awarded proposer for the services provided over the term of the contract. 

29.3 This article will survive the termination of the contract. 

31.0 PERMITS AND LICENSES 

31.1 The awarded proposer(s) will be responsible for obtaining any necessary permits and 

licenses and will comply with laws, rules, and regulations whether state or federal and 

with all local codes and ordinances without additional cost to the Board. 

J.P. Morgan agrees to be responsible for obtaining any necessary permits and licenses and will 

comply with all laws, rules, and regulations whether state or federal and with all local codes and 

ordinances that are applicable to the bank as provider of the services that are the subject of the 

RFP.




32.0 INTELLECTUAL PROPERTY RIGHTS 

32.1 The awarded proposer(s) will indemnify and hold harmless, the Board from liability of any 

nature or kind, including costs and expenses for or on account of any copyrighted, 

service marked, trademarked, patented or un-patented invention, process, article or work 

manufactured or used in the performance of the contract, including its use by the District. 

If the proposer(s) uses any design, device, materials or works covered by letters, service 

mark, trademark, patent, copyright or any other intellectual property right, it is mutually 

agreed and understood without exception that the proposal prices will include all royalties 

of costs arising from the use of such design, device, or materials in any way involved in 

the work. 

This article will survive the termination of any contract with the Board. 

J.P. Morgan does not provide intellectual property indemnities for financial services but we are 

willing to discuss any specific concerns the District may have. 

38.0 CONTRACTOR RFP REQUIREMENTS 

38.1 As part of its proposal, proposer shall provide to the District a list of all instances within the 

past ten years where a complaint was filed or pending against proposer in a legal or 

administrative proceeding alleging that proposer discriminated on the basis of race, 

gender, gender identity or expression, religion, national origin, ethnicity, sexual orientation, 

age, or disability against its subcontractors, vendors, suppliers, or commercial customers, 

and a description of the status or resolution of each such complaint, including any 

remedial action taken. 

JP Morgan Chase Bank, N.A., (the "Firm") and/or its subsidiaries have been named from time to 

time as a respondent in a number of administrative charges filed by various individuals with federal, 

state and/or local equal employment opportunity agencies, as a defendant in various legal actions 

and administrative proceedings arising in connection with its respective businesses and also have 

been involved in investigations and other proceedings by governmental agencies. In view of the 

inherent difficulty of predicting the outcome of such matters, the Firm cannot state the eventual 

outcome of pending matters. After consultation with counsel and based on current knowledge, the 

Firm believes that it has asserted meritorious defenses in each such matter and that the aggregate 

liability or loss, if any, resulting therefrom will not have a material adverse effect on its financial 

condition, but may be material to its operating results for any particular period, depending on the 

level of income for such period. The Firm does not believe that any pending action would have any 

material effect on the subject matter or its performance of the services contemplated by the 

Request for Proposal. (For example, in a significant number of cases, the administrative agencies 

have dismissed the claims, concluding that there is no probable cause to believe that a violation 

has occurred.) For further discussion, please refer to the JPMC’s forms 10K. 

40.0 THE JESSICA LUNSFORD ACT 

40.1 All contractors who are permitted access on school grounds when students are present, 

individuals who may have direct contact with children or any student of the District, or 

who may have access to or control of school funds must be fingerprinted and background 

checked. Vendor agrees to undergo a background check and fingerprinting if he/she is an 

individual who meets any of the above conditions and to require that all individuals in the 

organization who meet any of the conditions to submit to a Level 2 FDLE background




check, and FBI screening including fingerprinting by the School District’s Police 

Department, at the sole cost of Vendor. The report of the results to be immediately 

transmitted to the School District’s Police Department which shall be the sole determiner 

of clearance. Vendor shall not begin providing services contemplated by this Agreement 

until Vendor receives notice of clearance by the School District and is issued School 

District badges. Compliance requiring all vendors to register as a visitor before entering 

school property and proper display of School District badges will be strictly enforced. The 

School Board, nor its members, officers, employees, or agents, shall not be liable under 

any legal theory for any kind of claim whatsoever for the rejection of Vendor (or 

discontinuation of Vendor’s services) on the basis of these compliance obligations. 

Vendor agrees that neither the Vendor, nor any employee, agent nor representative of 

the Vendor who has been convicted or who is currently under investigation for a crime 

delineated in section §435.04 Florida Statutes will be employed in the performance of this 

contract. 

This paragraph shall serve as a warranty and representation that all JPMorganChase employees 

who are specially performing services for the School District of Palm Beach County have 

successfully passed the requirements for employment under applicable federal law and 

JPMorganChase criminal convictions policy. These requirements include, but are not limited to, 

restrictions under Section 19 of the Financial Institution Reform and Recovery Act ("FIRREA") 

wherein no individual can be involved in a position of influence or control of the management or 

affairs of an insured institution if that individual has a conviction for a criminal offense involving 

breach of trust, crime of dishonesty, money laundering, embezzlement, fraud, theft, criminal 

conspiracy or the sale, distribution, manufacture of or trafficking in controlled drugs and 

substances. Furthermore, J.P. Morgan closely scrutinizes all crimes of violence, including crimes of 

moral turpitude. Finally, as a term of employment, each JPMorganChase employee must annually 

certify adherence to the firm's Code of Conduct which among other requirements contains a 

requirement to notify the firm of any felony or misdemeanor conviction of such employee. 

42.0 USE OF OTHER CONTRACTS 

42.1 The District reserves the right to utilize any other District contract, any State of 

Floridacontract, any contract awarded by any other city or county governmental agencies, 

any other school board, any other community college/state university system cooperative 

RFP agreement, or to directly negotiate/purchase per School Board policy and/or State 

Board of Education Rule 6A-1.012(6) in lieu of any offer received or award made as a 

result of this RFP, if it is in the best interest to do so. The District also reserves the right to 

separately solicit any single order or to purchase any item on this RFP if it is in its best 

interest to do so. 

Any agreement used for the provision of services provided by J.P. Morgan must be mutually agreed 

to by J.P. Morgan.




Experience and Qualifications of the Firm: 

State the experience your firm has had in the last three years with Banking Services. 

J.P. Morgan Treasury Services business is a top-ranked, full-service provider of innovative payment, 

collection, liquidity and investment management, trade finance, commercial card and information solutions. 

With more than 135,000 clients and operations in 60 countries, J.P. Morgan Treasury Services is one of the 

world's largest providers of treasury management services. 

J.P. Morgan has the scope and scale necessary to provide leading treasury solutions to the School District of 

Palm Beach County as requested in the RFP. Our leadership position in key services is evidence of J.P. 

Morgan’s experience and qualifications, and 

demonstrates our ability to continue to deliver the 

services required by the District. 

J.P. Morgan has provided depository, disbursement, 

and cash management services for more than 100 

years. We understand the challenges you face in 

balancing the daily financial management of the District 

with your fiduciary responsibility. 

J.P. Morgan created a specialized national practice 

within the Commercial Bank known as Government, 

Not-for–Profit, and Healthcare banking (GNPH). 

The goals of the GNPH segment are: 

• Develop a world-class franchise 

• Be client driven, consistently delivering the best 

products and services 

• Innovation 

• Commitment to quality and integrity 

Leadership in Treasury Services 

#1 Information Reporting (Total Accounts & Internet 

Accessed Accounts) E&Y Survey 2009 – 2011 

#1 CHIPS & Same Day (Transactions) 

E&Y Survey 2000 – 2011 

#1 ACH Origination (Debit, Credit, & Total 

Transactions) E&Y Survey 2004 – 2011 

#1 EDI Initiated Payments (Electronic & Total) 

E&Y Survey 2004 – 2011 

#1 Sweep Accounts Reporting (Accounts & Average 

Daily Balances) E&Y Survey 2008 – 2011 

Ernst & Young Product Ranking Report 

Our GNPH division employs over 460 people across 

the country dedicated to this segment, including bankers, treasury service professionals, credit specialists, 

client service experts, and administrative and sales support personnel. Our clients benefit from our extensive 

experience and the commitment to develop products and services to meet the unique needs of these 

industries. 

Dedicated municipal and tax-exempt credit specialists work closely with the District’s relationship team to 

provide credit products designed to meet your needs. J.P. Morgan has differentiated itself widely as a premier 

credit provider to governments, not-for-profit entities, and healthcare providers. Our financial strength, 

capacity, experience, and consultative approach have allowed us to consistently provide cost effective credit 

products to our clients throughout varying economic cycles. 





A map of our national GNPH practice follows to illustrate the breadth of our commitment to this important 

segment. 

J.P. Morgan Government, Not-for-Profit and Healthcare National Banking Coverage 

Figure 1 

Based on the 2011 year-end revenue, J.P. Morgan has banking relationships with more than 3,700 public 

sector clients across the country. Of those, we bring our experience and understanding of providing banking 

services for 1,064 local school districts. 

Since 2009, JPMorgan Chase has provided nearly $19 billion in financing to educational institutions and 

school districts. In the summer of 2010 JPMorgan Chase and its Community Development Financial 

Institution partners announced a $325 million initiative to build 

and renovate high-performing charter schools across America. 

In addition, Chase was named “Best Overall Bank for Cash 

Management in North America” for the 5th year in a row — 2010 

by Global Finance. 

J.P. Morgan understands that careful attention to quality and 

customer service excellence is the primary difference in 

maintaining a strong relationship with our clients. By selecting J.P. 

Morgan as your banking services provider, the District can be 

confident that you will be supported by experienced personnel, 

advanced technology, a consultative approach and a strong 

commitment to the District’s business. 

GNPH Leadership in Education Sector 

#1 in Customer Satisfaction in the 

Education Sector 

#1 in Finding Creative Solutions to Meet 

Customers’ Needs in the Education 

Sector, 

Barlow GNPHE Research, 2010 

The School District of Palm Beach County can expect the highest levels of service to be delivered by your 

J.P. Morgan team. Our people are committed to building solutions that lead to your success. 

Financial Stability 

In a turbulent economic environment, the health of your banking institution can directly impact the health of 

your business. We want to offer you reassurance that J.P. Morgan’s approach to financial management has 





allowed us to achieve our objective of maintaining liquidity, preserving capital and providing current income 

throughout both historical cycles and past market events. Although current market conditions clearly pose 

very significant challenges, we believe we are coming into this period well prepared to weather a substantial 

financial storm. Importantly: J.P. Morgan continues to be well capitalized under regulatory definitions. Our 

deposit base represents a stable source of funding for the bank. 

• Total deposits of approximately US $1.1 trillion represent balances both in our retail and wholesale 

businesses 

• We have total assets of US $2.3 trillion with exposures to a diverse group of wholesale and consumer 

markets 

• We have large reserve levels across all of our wholesale and consumer businesses 

• The team running J.P. Morgan is solid and experienced. Together this team has successfully weathered a 

number of macro financial crises. We are confident that they have made, and will continue to make, 

measured and sound decisions. 





Qualifications of Staff: 

Include the names of individuals who will be assigned to the contract, if awarded to proposer. Also, include their 

resumes with your proposal. Please expand on their experience in the area they will be serving. 

J.P. Morgan recognizes the importance of providing a premier client experience. The District’s designated 

relationship team manages every facet of our partnership from customer service, implementation and treasury 

services to credit, finance and investments. We take a consultative and team approach in building 

relationships with our clients. Our partnership with the District will be rooted with a dedicated relationship 

team responsible for addressing your inquiries and requests for services, while attending to daily activities 

regarding the management of the District’s accounts. 

The District’s assigned Relationship Manager, Ralph Hildevert, will be your primary contact responsible for 

the overall satisfaction of the banking relationship. The assigned Treasury Sales Manager will be Marcos 

Cordero. He will assist in designing the most efficient account structure and will notify the District of 

enhancements to our products and services. Additionally, the District will be assigned a designated Client 

Service Professional (CSP), Carol Leonard, who will be your primary contact for your day-to-day inquiries 

and will engage the appropriate J.P. Morgan department on your behalf. 

Ralph Hildevert, Relationship Manager & Banker 

Government Not-for-Profit Healthcare (GNPH) 

Office Address 1450 Brickell Ave, Floor 33, Miami, FL, 33131-3444 

Phone Number 305.579.9320 

Fax Number 305.351.8451 

e-mail address 

ralph.hildevert@jpmorgan.com 

Experience 

Ralph Hildevert joined JPMorgan Chase Bank in 1997 and is a vice president in our Government, Not-for-Profit, 

Higher Education, and Healthcare (GNPH) group in Miami. As a GNPH banker, he is responsible for proactively 

assisting government entities, public and private schools, colleges, universities, and nonprofit organizations based 

in South Florida with their financial needs, particularly credit, cash management, and treasury services solutions. 

Prior to becoming a GNPH banker, Ralph was a Relationship Manager, credit analyst and senior client service 

professional for J.P. Morgan’s Commercial Bank International Agencies Team, assisting some of the largest 

international, non-governmental, multilateral, humanitarian, and microfinance organizations. Ralph has been with 

the organization and its predecessor banks working in various roles for over 15 years. 

Education 

Ralph holds an Executive MBA degree in International Business from the University of Miami and a B.S. in 

Administrative Studies and Legal Studies from St. John’s University in New York, where he graduated Magna 

Cum Laude. He also completed the Chase Commercial Banking Credit Analyst program. Ralph is proficient in 

Spanish and has conversational knowledge of Portuguese. 

Leif Chase, Division Manager 


Office Address 450 S Orange Avenue, Floor 10, Orlando, FL, 32801 

Phone Number 407-236-5464 

Fax Number 407-218-5355 


leif.g.chase@jpmorgan.com 







Experience 

Leif joined Chase in March 2010, before which he worked for over 14 years in public finance, including local 

government, a financial advisory firm, regional underwriters, and a regional bank focused exclusively on 

governmental banking. During this time, he focused primarily on publicly underwritten and privately placed entities 

such as utilities, municipalities, school boards, universities, and not-for-profit organizations. 

Leif spent the past four years working for regional investment banks. He has extensive involvement with credit 

evaluation and structure for Certificate of Participation issues, serving as financial advisor to Orange County 

Schools, Duval County Schools, Citrus, Charlotte, and Marion County Schools 

Education 

Leif received his Undergraduate degree from the University of Central Florida and a Master's degree in Public 

Administration from the University of Central Florida. Leif is currently Series 7 & 63 licensed. 

Marcos Cordero , Treasury Sales Manager 




Fax Number 866.308.9942 


marcos.x.cordero@chase.com 

Experience 

Marcos Cordero is a Treasury Sales Manager in J.P. Morgan’s Treasury Services division, focused on serving the 

needs of clients in the public sector. He has over 15 years of banking experience and a thorough understanding of 

cash management products, sales and service. In this role, his responsibilities include business development and 

relationship management for Public Sector clients located in South Florida. 

Education 

Marcos graduated from Nova Southeastern University, receiving a Bachelor of Business Administration with a 

specialty in Business Professional Management. 

Carol Leonard, Senior Client Service Professional 


Office Address 100 North Tampa Street, Floor 33, Tampa, FL, 33602 


Fax Number 866.914.9910 


carol.a.leonard@jpmorgan.com 

Experience 

Carol Leonard is a Sr. Client Service Professional with the local client service team. She has 22 years of Banking 

experience which includes deposit operations, 16 years of which have been dedicated to providing outstanding 

customer service to our middle market and government clients. 

She has received several accolades based on her performance. These include 3 National awards, team recognition 

and client applause. Most recently she has been recognized for her coaching, mentoring and acting as a subject 

matter expert nationwide. 







Education 

Carol received her High School Diploma from Ouachita Parish High School, Monroe, LA, and attended Tarrant 

County Junior College – Business Management for two years. 

Additional Education – Supervisory Training and Banking courses with the American Institute of Banking. 

Mayra Perez, Client Service Professional (Backup) 




Fax Number 866.914.9910 


mayra.s.perez@jpmorgan.com 

Experience 

Mayra Perez is a Client Service Professional with the local client service team. She has four years of Banking 

experience which includes technical support and client service to our middle market and government clients. 

Education 

Mayra received her High School Diploma from Loyola High School, and attended IVYTECH State College and the 

Tucker School of Business. 

Additional Education – Business Program Certification, IndyPendence Job Corps Center 





Approach / Methodology: 

At a minimum, show how you will . . . . . . . . . . . . 

10.0 SCOPE OF SERVICES 

10.1 The following is a description of the services requested by the District. Section 3.0 pertains to all 

proposers. Section 10.15 pertains to General Banking Services. Section 10.29 pertains to School Activity 

Accounts. Section 10.33 pertains to Custodial Services. Please see the Prices and Services Table for 

services and volumes fiscal year 2011. Proposers should clearly indicate which service(s) they are 

interested in providing. 

J.P. Morgan is interested in providing General Banking, School Activity Accounts and Custody 

Services for the School District of Palm Beach County. 

10.2 Qualified Public Deposits: All District bank accounts must be Qualified Public Depositories and need to 

be identified and collateralized as required by F.S. Ch. 280: Security for Public Deposits. Banks selected 

to provide services for the School District shall notify the District of any change in collateral requirement 

from Florida’s Department of Collateral Management within 30 days. 

JPMorgan Chase Bank, N.A. obtained their certificate for QPD status in Florida on 10/13/2011. 

10.3 Bank Representative: The bank will be required to appoint one bank representative that will be 

responsible for the entire relationship with the School District. If the bank utilizes a customer service 

desk approach, contact will be designated for the School District. 

Please refer to the Qualifications of Staff section of this RFP for details about the District’s 

relationship team. 

Designated Client Service Professional 

The District will be assigned a dedicated Client Service One point of contact for all 

Professional (CSP) for all customer service issues. Your inquiries – all the time 

CSP, Carol Leonard, will respond to any of your requests or 

resolve any problems the District may experience with the services provided by the bank. Mayra 

Perez, will be assigned to support the District’s relationship as a back-up Client Service Professional 

in Carol’s absence. Carol will counsel with Mayra to keep her abreast of the District’s relationship. 

We strive for a 24-hour turnaround time for research and inquiry requests from our clients. However, 

in those instances where your assigned CSP requires additional support, several processes are in 

place to assist in resolving your issue. 

While serving as the central point of contact for service-related requests, Carol will have immediate 

access to your relationship team and key operational management contacts in the event an issue or 

request requires escalation. 

Beyond regular business hours, Carol is supported by a fully integrated service center staffed with a 

team that shares the same level of commitment to providing outstanding service. As well as offering 

extended hours of operations, our service center provides accelerated resolution of issues if your 

CSP is unavailable. It also offers an escalation point, if your systems are down or if your staff is 

unavailable, so that you can continue to operate effectively. 





10.4 Availability of Funds: The bank shall process all deposits to obtain the most expeditious availability of 

funds for wire transfer or other use. The District requests the following specific availability/deposit 

procedures: 

a. Same day credit for U.S. Treasury checks. 

Please refer to Appendix 1 for a copy of our “Availability Schedules.” 

b. Insurance drafts will be processed the same as other checks deposited. No "holds" on funds will be 

permitted. 

We can offer accelerated funds availability, as we have one of the largest check-clearing 

networks in the country, clearing more than 90% of all deposited checks as images, reaching 

more than 21,500 endpoints. For special processing or select items, our International and 

Domestic Collections Unit can process outgoing and incoming domestic and international 

collection items. 

Please refer to Appendix 1 for a copy of our “Availability Schedules.” 

c. Canadian and other foreign checks will be processed as deposited in U.S. Dollars. A foreign 

exchange discount or other processing charge will not be permitted. 

J.P. Morgan will work with the District to establish a check collection “Courtesy Limit” that will 

allow for ledger credit of eligible U.S. Dollars checks drawn on Canadian banks. All other foreign 

currency denominated checks or U.S. Dollars checks drawn on banks outside of the United 

States will be subject to standard international collection procedures. Depending on check 

collection volumes and frequency, the District may want to take advantage of other check 

collection services offered by the Bank, such as our Multicurrency Deposit and Collection 

Services. 

d. Funds associated with the redemption or maturity of securities in the safekeeping account is 

available for use by the District on that day. 

Funds associated with the redemption and/or maturity of securities are available for use by the 

District on payable date. 

e. The bank does not delay transactions for daylight overdrafts by the District. 

J.P. Morgan actively manages its positions within all clearing systems throughout the day. Our 

goal is to expedite the delivery of each transaction processed through the clearing system. 

As the largest combined CHIPS and Fedwire participant, J.P. Morgan is well-positioned to 

efficiently execute your payment flows. We currently process, on average, more than 395,000 

transactions a day with an aggregate value that exceeds $3.1 trillion. Through the combination of 

sophisticated technology, client credit facilities and one of the largest net debit caps in the 

industry, we are confident we can provide the District with the intraday liquidity necessary to 

execute your payments promptly. 

10.5 Account Analysis: Account analysis statements should be provided on-line showing the activity in each 

of the District’s accounts for the prior calendar month should be available to the District by the 10th 

business day. A transmission of the data shall also be provided to the District. The accounts should be 

grouped as follows: 

Group1: District School Fund, Disbursement Account, Payroll Account, Electronic Payments and Third 

Party Account 

Group 2: School Food Service 

Group 3: School Activity Accounts 

Group 4: Custodial Account 





The Account Analysis Groups described above shall roll up to a Master Group. 

The analysis shall itemize all services provided as described in the response to this RFP. Any additional 

services must be approved by the District prior to the assessment of any fees. Included in the analysis 

statement should be: items and quantity processed, unit charges, extended totals, the total of all 

charges and the earnings credit rate. The District will not accept descriptors, such as “Other or 

Miscellaneous.” 

J.P. Morgan will provide the above referenced account analysis groups. All accounts in each group 

will roll up to a master group account for billing purposes. Account Analysis statements can be 

delivered via paper, online via the J.P. Morgan ACCESS portal and electronically via EDI 822 file 

format. 

J.P. Morgan supports 822 EDI version 4010, which can be delivered via: 

• Direct Transmission – the monthly file is available by the 6 th business day for download once a 

secure FTP connection has been established. 

• Secure E-Mail Distribution – an embedded link within a secure e-mail can be used to download 

the file via a Web browser. 

All sections of the Account Analysis statement may be viewed, printed and exported through the 

Electronic Statements module of J.P. Morgan ACCESS. Up to 13 months of statements are made 

available online. 

Please refer to Appendix 2 for a sample analysis statement within our “Account Analysis User Guide.” 

10.6 Furnished Supplies: The bank shall provide deposit slips (pre-encoded for accounts with deposit 

reconciliation services) in triplicate for all accounts and checks for school activity accounts at no 

J.P. Morgan can assist the District with the purchase of bank supplies with our preferred vendors. 

Supplies will be provided to the District at vendor cost, by contacting your Client Service Professional 

(CSP). If payment is through account analysis, all invoices must be in the Bank’s name and directed 

to the Client Service Professional (CSP). 

We can provide, and recommend the use of, deposit slips that are preprinted with a Unique Location 

ID (ULID) for each school/location. With these deposit slips, deposit history information is sorted by 

account and ULID. The District will be able to view and sort deposits by ULID via J.P. Morgan 

ACCESS Information Reporting. 

10.7 Bank Statements: The cutoff date for statement purposes, for all District accounts shall be the last day of 

each calendar month. The District must receive statements within seven banking days following the 

cutoff. The District reserves the right to receive interim statements or to change the cutoff date. 

The Bank must have the capability to provide full reconciliation services with positive-pay protection 

services for the Disbursement Account. The School District will provide a transmission of check issue 

information for each check run. The School District also requires the ability to add issue information for 

on-demand checks that may be presented for payment that same day. Images of all paid items should be 

provided to the District on CD-ROM. 

The District will receive monthly statements for each account from J.P. Morgan. J.P. Morgan’s 

monthly account statements are available via secure Internet delivery using J.P. Morgan ACCESS 

thereby providing the District with comprehensive reporting in the most timely and efficient manner. 

Our Internet statements are identical to the paper statements mailed to clients and are available 

within 2 to 3 business days after the statement cutoff date. 

The District can search for transactions listed on the statement as well as click on a check number in 

the statement to see an image of the front and back of the cancelled check. 





Online history and images are available on J.P. Morgan ACCESS for up to seven years, going back 

to whenever the District first started using Internet statements. In addition, the District can save and 

print the statement in PDF format as well as export data to a Microsoft Excel spreadsheet or in CSV 

format. 

J.P. Morgan offers clients a complete range of account reconciliation services described in Section 

10.27 of this RFP. Paid images are available via both CD-ROM and online. These services are 

described in further detail in Section 13.116 of this RFP. 

10.8 Bank Fees: Given the low interest rate environment, all District bank balances shall be used to offset 

fees. Proposers should indicate the Earnings Credit Rate that will be applied to balances maintained in 

District bank accounts. The earning rate on either such agreement shall be determined on a 360-day year 

basis. At that time, the Bank Positive or negative compensating balances will carry forward month to 

month and will be settled at the end of each calendar shall submit an invoice to the District for payment 

or if there is a positive balance, the District shall submit an invoice to the Bank for payment. 

We agree given today’s current low rate environment using available balances to offset account 

services with the Earnings Credit Rate (ECR) is best for the District. J.P. Morgan is pleased to offer 

the District our Market Managed Earnings Credit Rate (ECR) of 0.40% with a floor of 0.40%. As an 

alternative, the District may choose to switch to an indexed based rate of T-Bill Rate: 4-week average 

of the 91-day T-Bill discount rate +10 bps. The method of calculating the earnings credit rate will be 

the industry standard 365-day basis. The District’s dedicated Relationship Manager, Ralph Hildevert 

and Treasury Management Officer, Marcos Cordero, will meet with the District at least semi-annually 

or more often, if desired, for a thorough relationship review, which will include review of month to 

month interest earnings and District’s current earnings credit position. We will regularly evaluate 

approaches to deliver customized solutions, energize your operations, and maximize the value of 

your cash flow through automation and other enhancements. 

J.P. Morgan’s standard billing arrangement is monthly. Excess balances, if required, can be carried 

forward up to 12 months, but not more than one calendar year, for quarterly carry-forward billing 

setup only. Although J.P. Morgan’s policy is to utilize earnings credit in the billing period in which 

they were earned, we will comply with the District’s request to have excess earnings credits from 

compensating balances carried forward month to month with settlement at the end of each calendar 

year. 

When the level of balances does not fully cover the total fees, the District will be charged by invoice 

for the difference or any deficiencies. Excess earnings credit is an allowance that can be applied to 

offset account analysis fees, and does not denote hard dollar compensation from the bank. 

J.P. Morgan is also pleased to offer the District the following throughout the term of the contract: 

• Change your base rate up to one time per initial contract period and within each renewal period. 

For example, if you select our proposed Managed Rate today because rates are higher, you will 

have the opportunity to change your ECR to the index rate described above, if that rate is higher. 

You can request a rate change up to one time within the initial term of the contract and within 

each renewal period. 

• Once per year, we propose to meet with you and re-evaluate the available investment options 

and determine what structure or combination of products will allow you to maximize your interest 

income. We will provide the on-going support necessary to assist with your critical decisions 

relative to investing your funds and maximizing interest earnings. 





Should interest rates improve during the course of this contract; the District will expect the balances to 

earn interest on a daily basis. Proposers should indicate the interest rate, based on an index, which will 

be available. Proposers shall include in their proposal, minimum and incremental investable balance 

amounts. 

J.P. Morgan recommends a sweep mechanism to invest “excess” cash that is not required to stay in 

an operating account to cover known and unexpected disbursements. We are proposing that the 

District use our Repo sweep product for overnight investments. The current rate offering for our 

internally managed Repo sweep is 0.10%. There are no minimal or maximum investments with our 

Repo investment option. 

Additional Investment Option- Stable Balance High Yield Savings 

For qualifying balances that have no known disbursement need over the next 18 to 24 months, Chase 

offers a Stable Balance High Yield Savings Account that earns a premium rate over other overnight 

deposit alternatives. Many of our clients have reserve cash that has a long-term characteristic but 

must be invested in an overnight instrument either due to investment policy or in order to effectively 

manage maximum weighted average maturity (WAM) requirements of their overall cash portfolio. 

The Chase Stable Balance High Yield Savings Account is a short term deposit obligation of 

JPMorgan Chase Bank, N.A., which enjoys a current credit rating of A-1 (Standard & Poor), P-1 

(Moody’s), F-1+ (Fitch). This savings account provides a unique solution that minimizes the 

opportunity cost of holding funds in a traditional overnight instrument that would earn significantly 

lower yields. Funds held in this stable balance account are fully available on a same day basis 

without prepayment penalty should an unforeseen need arise. However, if the remaining balance 

falls below (or ever goes above) the initial target balance amount by more than 10% (+/- 10%), the 

bank reserves the right to drop the rate down to a more appropriate overnight rate for volatile 

balances. 

Beginning on the date of your first deposit, and for an average minimum balance of $10 million, JP 

Morgan Chase Bank N.A. agrees to pay a premium rate for funds expected to remain stable for a 

minimum of fifteen to twenty-four months (see the program details outlined below). This currently 

represents a 0.10% - 0.25% yield enhancement over other comparable overnight investment 

accounts commonly used for more volatile cash. The current rate offering for our Stable Balance 

High Yield Savings Account is 0.20%. 

Stable balance account parameters: Stable balances are often found in the reserve or “low water 

mark” portion of cash assets and have no anticipated disbursements during the next 18 to 24 

months. When balances in the stable balance account remain within a range between 90 percent 

and 110 percent of a mutually agreed upon target balance, Chase agrees to pay a yield enhancement 

over the standard published account rates. If, however, balances fall outside of the 90 to 110 percent 

threshold, the bank reserves the right to adjust the rate for future periods to a more appropriate level 

associated with volatile or overnight funds without regard to a set interest rate floor. 





If an overnight repurchase agreement is proposed, the District requires collateral on repurchase 

balances. Collateral must be U.S. Treasuries and Agencies with market value equal to at least 102% of 

the repurchase agreement. Market value must be determined daily by the Bank and collateral increased 

accordingly. Further, collateral must be in the District's name and held by a third party custodian, or the 

Bank's Trust Department, in the case of open repurchase investments. A safekeeping receipt, which fully 

describes the securities, shall be issued directly to the District by the third party institution. The 

safekeeping receipt and the terms of the repurchase agreement shall show clear evidence of ownership 

by the District. The evidence of ownership, types of securities, sufficiency of market value, and length of 

maturities are subject to examination and acceptance by the District. The District reserves the right to 

transact overnight repurchase agreements with financial institutions other than the Bank using the 

available collected balance. 

J.P. Morgan adjusts the market value every “business” day, which doesn’t include weekends or 

holidays. In the case of an open repurchase agreement we utilize a custody account at the Federal 

Reserve. Safekeeping receipts, which describe the securities, are issued by J.P. Morgan and not a 

third party institution. 

The Bank is not permitted to debit or charge any of the District’s accounts for any of the fees associated 

with any of the services provided to the District by the Bank. In addition, the account analysis statement 

should show average balances and average net collected balances, along with itemizes monthly activity 

of each account and services activity cost associated with each. Each proposer is required to provide an 

analysis comparing service fees paid by compensating balances verses direct fees for each of the 

proposed services. 

J.P. Morgan will invoice the District for account analysis service charge fees. J.P. Morgan generates 

account analysis/billing statements on a monthly cycle that contain detailed account balance 

information, product usage and transaction volumes, unit price and total service fees. Please refer to 

Appendix 2 for a sample account analysis statement in our “Account Analysis User Guide.” 

Please refer to the Cost of Services form for fees and compensating balances required to offset fees. 

The Cost of Services form will be uploaded as a separate document to DemandStar as requested by 

the District. 

10.9 Employee Accounts: All proposers must agree to cash all School District checks payable to District 

employees at no charge to the District or the employee, upon the employee’s presentation of a photo 

identification card. The employee’s personal account relationship will not prevent the employee from 

cashing a payroll check issued by the District. 

J.P. Morgan understands and acknowledges the requirements stated in the section above. Based on 

historical volumes provided by the District, J.P. Morgan will provide check cashing services for the 

District and its employees at no charge. 

Proposers should include any specialized packages that will be available for District employees. The 

packages should include checking and savings accounts with no maintenance fees or minimum balance 

requirements. The Bank should also provide information regarding educational opportunities available 

to District employees such as planning for retirement, managing credit, and general financial 

management. 

J.P. Morgan is pleased to offer the District Chase At Work a powerful program that can help the 

District better manage payrolls, while helping the District’s employees bank conveniently and receive 

great discounts, as well as, providing financial education at your workplace/at the branch – all at no 

cost to the District. 

Benefits for the District’s employees: 

Receive better rates, more rewards and bigger discounts in one convenient banking package 





Receive financial education on key topics (i.e. identity theft, credit and debt management, mortgages, 

investments, etc.) in a group or one-on-one setting with a J.P. Morgan representative 

And as a leading global financial services provider, we offer strength and stability to both the District 

and District employees. 

Please refer to Appendix 3 for detailed information on our “Chase At Work” program. 

10.10 Merchant Services, P-Card and E-Payables: These services are currently utilized by the District via a 

separate contract and are not included in this Request for Proposals. However, proposers may provide 

information regarding these services. The District is under no obligation to award a contract for these 

services at this time. 

Chase Paymentech 

Merchant services would be provided by Chase Paymentech Solutions, a subsidiary of JPMorgan 

Chase Bank, N.A. (JPMC), and a leading provider of payment processing and merchant acquiring 

pursuant to the terms of a separate payment instrument agreement with Chase Paymentech with 

appropriate terms and conditions to be supplied by Chase Paymentech. The company’s proprietary 

platforms enable integrated solutions for all payment types, including credit, debit, prepaid stored 

value, electronic check processing and alternative payment options. We provide a full set of solutions 

aimed at accelerating cash flow and managing transaction data. On the Internet or at the point of 

sale, Chase Paymentech’s unique combination of outstanding service, innovative solutions and 

financial strength offers solid benefits to merchants of all sizes. In 2011, Chase Paymentech 

processed more than 24 billion transactions with a value exceeding $553 billion. With a legacy of 

innovation and vision in electronic payments, Chase Paymentech promoted the growth of ecommerce 

worldwide. The company continues to fuel the success of the Internet’s largest brands, as for the 

sixth consecutive year, Chase Paymentech ranks as the number one provider in the Payments 

Processor category in Internet Retailer’s Top 500 Guide. In addition to the ability to authorize 

transactions in more than 130 currencies, the company provides business analytics and information 

services, fraud detection and data security solutions. More information can be found at 

www.chasepaymentech.com. 

Chase Paymentech offers the following advantages: 

• Strategy – Chase Paymentech’s growth is guided by our strategic vision to be the premier 

electronics payments provider. We take great pride in our reputation for innovation, 

responsiveness and flexibility in meeting our clients’ needs and remaining at the forefront of the 

merchant acquiring industry, both within North America and in International markets where our 

clients operate. 

• Commitment – Chase Paymentech demonstrates our commitment to the merchant community 

and payments industry by serving as a proactive participant in organizations advocating positive 

change for merchant causes. We participate as Board Directors and committee chairs at the 

Merchant Risk Council, Direct Response Forum, Visa, MasterCard, Interac committees and other 

important roles in industry organizations. In addition, we host merchant advisory events and 

retain a robust webinar educational series for our merchants and partners. 

• Scale – Our scale provides us the ability to perpetually process high transaction volume while 

consistently improving our margins. The Chase Paymentech philosophy is built on the foundation 

of optimal performance while expanding our scale. We do this by maintaining a target capacity at 

140 percent of anticipated volume. 

• Service – Great importance is placed on service so that we retain clients and optimize organic 

growth. We deploy a two-tiered service model that includes highly specialized proactive Account 





Executives, as well as a regionalized, mass market service approach. The regional service 

program includes ongoing service automation, consistent call monitoring, formal feedback 

collection, and response programs and analysis to assess and attain merchant satisfaction. In 

2011, we renewed our service commitment across Chase Paymentech globally with the launch of 

“Project M.E.” (“Merchant Experience…it starts with M.E.”). This program has heightened the 

company-wide sense of urgency to provide unparallel service for our clients at all functions 

across Chase Paymentech. We anticipate that this program will drive improved retention and 

incremental revenue. 

• Technology – Chase Paymentech makes significant investments in technology, and in the 

proactive planning and research required to support emerging payment types. These investments 

assure us the capacity required to maintain our leadership position as the largest point-of-sale 

transaction processor in the industry. We believe Chase Paymentech’s technical performance by 

any measure – redundancy, security, speed and uptime – is unequalled in the industry. 

• Innovation – Chase Paymentech is a leader in pioneering payment innovations, including 

merchant acceptance of new payment methods such as PayPal, Bill Me Later and Green Dot. 

Chase Paymentech is currently involved in a number of strategic product initiatives, including: 

mobile acceptance projects, mobile ewallets, merchant funded offer initiatives, streamlining the 

merchant application process, and extending our EMV/NFC experience to the U.S. market. 

Chase Paymentech’s customer base includes 222,500 merchants with 442,500 locations, including 

many of the top brands. Our portfolio boasts merchants from almost every industry, including airlines, 

automotive, billers (telecommunications, insurance and utilities), ecommerce, hospitality, mail 

order/telephone order, petroleum, associations and franchises, retail, supermarket and the public 

sector. 

Chase Paymentech has approximately 2,530 employees and operates a portfolio of proprietary 

payment platforms, products and services. The company’s executive team consists of professionals 

with an average of more than 20 years experience in the industry. In addition, our employees 

participate in and influence the payments industry through representation on the boards of the 

primary payment brands and networks. We also host an independent Merchant Advisory Group to 

advance and evolve the interest of our clients. As a subsidiary of JPMorgan Chase Bank, N.A., we 

are able to leverage the assets of our owner. Chase Paymentech has been the leading processor in 

the electronic payments industry since 1985 and dominates the merchant acquiring market. 

Chase Paymentech would require a separate agreement with the District, based on Chase 

Paymentech’s standard agreement (provided upon request). Chase Paymentech has not reviewed 

and, therefore, cannot agree to specific terms and conditions within the RFP. The District contracts 

directly with Chase Paymentech for merchant processing with mutually agreed upon terms and 

conditions. 

We would welcome the opportunity to discuss the needs and requests for payment processing for the 

District and create a customized technology and pricing solution to best enable the District to 

maximize their payment processing service. 

Purchasing Card 

The J.P. Morgan Chase Purchasing Card provides a streamlined means for organizations to 

authorize, track, pay, and reconcile many of the small-dollar purchases that don’t require manual 

purchase orders, as well as higher-dollar items like capital purchases, utility payments, and temporary 

labor expenses. Additionally, recent changes in 1099-MISC reporting have made shifting payments 

from check to purchasing card even more attractive. 





Our purchasing card program offers significant benefits, such as improving cycle times and 

reducing—if not eliminating—certain expenses and tasks related to the procurement process (e.g., 

invoice processing and check payments). Combined with enhanced reporting and processing 

efficiencies, purchasing cards are becoming the payment method of choice for progressive 

organizations worldwide. 

Importantly, the J.P. Morgan solution can be customized to deliver all the information your 

organization needs to monitor and control employee expenditures, boost departmental efficiency, and 

maximize your profitability. Advantages of the J.P. Morgan Purchasing Card include: 

• Choice of Visa- and MasterCard-branded cards 

• JPMorgan Chase’s state-of-the-art, proprietary card management program at no cost 

• Enhanced data capture, including line-item detail from merchants that pass that information 

• Daily online reporting and Query Wizard tools in PaymentNet 

• Online, real-time account maintenance through PaymentNet 

• Comprehensive spend controls to help prevent fraud and employee misuse 

• Convenient payment options, including electronic bill presentment and payment 

• Expert management and an implementation support team specifically assigned to your program 

• 24-hour customer service completely dedicated to the commercial card product 

• No-fee central liability waiver protection 

MCC and Limit Controls 

PaymentNet features numerous real-time account and cardholder controls, including MCC and dollar 

and velocity limit controls. Specifically, our numerous card controls include full hierarchy support, realtime 

adjustments of spend controls online, and denial at the point of sale for transactions that do not 

meet your requirements. The School District of Palm Beach County’s Program Administrator can 

establish limits at any level of your hierarchy: by individual, by department, or for your entire 

organization. 

PaymentNet’s intuitive interface enables program administrators to quickly and easily adjust a wide 

range of card controls online at any time. 

Furthermore, managers, administrators, and other authorized personnel can use PaymentNet reports 

to monitor spend limits and track purchase history, making it simple to determine whether 

cardholders’ limits are sufficient for their needs. In providing PaymentNet, J.P. Morgan’s objective is 

to meet the School District’s unique organizational needs and program goals in the most efficient, 

comprehensive, and user-friendly manner possible. We would be pleased to discuss PaymentNet’s 

numerous features with you in greater detail at any time. 

Single-Use Accounts 

J.P. Morgan’s industry-leading Single-Use account program (SUA) is an electronic payment platform 

that replaces paper checks and other payment processes with a unique sixteen-digit card number. 

Single-use accounts eliminate many of the costs associated with traditional accounts payable 

processes while offering greater security and control than traditional purchasing cards. SUAs will 

enable the School District to increase your rebate opportunity, as all single-use account spend 

qualifies for rebate just like the Purchasing Card. Single-use accounts mirror your existing accounts 

payable process—and because they carry no special requirements, all of your card-accepting 

vendors can readily accept single-use account payments. 





Because the initial payment processes for checks and single-use accounts are so similar, no major 

changes to the School District’s existing accounts payable process are required in order to begin 

benefiting from the reduced costs, greater efficiency, and enhanced security offered by our e- 

payment solution. 

The J.P. Morgan Single-Use Account solution offers numerous benefits over competitor products, 

including: 

• Automated reconciliation—Because each single-use account is uniquely matched to a specific 

approved transaction document, such as an invoice or purchase order, J.P. Morgan automatically 

matches the merchant transaction to the invoice information. All of the matched invoice and 

transaction information can be downloaded to your financial system, and is also available to be 

viewed and reported on in PaymentNet. Contrast this automated process with manual 

reconciliation, which is inefficient, time-consuming, and labor-intensive. Many competitors’ 

products do not offer automated reconciliation. 

• Superior payment control—Each single-use account has a credit limit equal to the approved 

invoice amount, and there is only one account per invoice—ensuring that the merchant has 

access only to the approved funds for that invoice. Many competitor models use an account for 

each supplier, rather than for each purchase document or transaction. The supplier’s aggregate 

credit limit is increased or decreased each time an invoice is approved, rather than being tied to a 

specific invoice. 

• Direct integration—Single-use account data can be integrated directly into the School District’s 

financial system without requiring that you use another piece of software for control or reporting. 

This level of integration allows you to retain a single touch-point in your accounts payable 

processing. J.P. Morgan’s PaymentNet software is available if robust reporting and querying 

functions are needed. Many competitor solutions are not as tightly embedded in clients’ systems 

when it comes to controlling, reporting, and reconciling transactions. 

• With no setup fees from J.P. Morgan, no special requirements for your suppliers already 

accepting card payments, and the increased rebate opportunity offered by capturing additional 

spend, the J.P. Morgan Single-Use Account solution presents a compelling value proposition for 

enhancing your commercial card program. 

Please refer to Appendix 4 for J.P. Morgan’s “Purchasing Card Proposal.” 

10.11 Automated Balance-Reporting Services: Provide automated balance-reporting services for all the 

District’s accounts. Ledger and collected balances should be available for prior and current day. 

Transaction details for prior and current day should include debit and credits (i.e. wire transfers, ACH 

transactions, bankcard deposits, ZBA transfers). Positive Pay Services, input and reporting, shall also be 

provided via an online service. 

The District will receive a complete range of banking services from J.P. Morgan. These services will 

help you meet your objectives: 

• Web based balance and transaction reporting including export capabilities 

• Electronic payments with multiple security controls including dual approval 

• Bank products that integrate with ERP systems 

• State of the art fraud prevention tools 

• Knowledgeable central point of contact with assigned backup for efficient responses 

We offer on-line access to these services through J.P. Morgan ACCESS. Complete on-us check 

processing services is provided through Payables Web Services SM . J.P. Morgan supports the FTP 





exchange of encrypted files. Question 13.105 provides overviews of these key services which will 

allow the District to leverage technology to streamline your treasury operations. 

10.12 Testing: Support system tests as needed due to new services or changes to District systems such as 

MICR tests, ACH tests and prenotes, transmission tests, etc. 

The District’s Client Service Professional, Carol Leonard, will act as a central point of contact to 

coordinate system tests as necessary with the appropriate operations departments. 

Carol has the authority to engage all levels of management and escalate within the J.P. Morgan 

service organization. In addition, Carol regularly communicate with clients’ commercial banker and 

treasury management officer to verify that all parties supporting a client are familiar with your 

business and banking activity. 

10.13 Credit Facilities: The School District may require letters of credit or other credit facilities over the term of 

this contract. Please describe the Bank’s ability to provide credit facilities to the School District. 

J.P. Morgan would be pleased to discuss in detail the specific credit requirements of the District. Our 

firm ranks among the largest providers of credit facilities in the municipal market today, as well as one 

of the largest issuer of standby letters of credit, handling not only traditional financial standby letters 

of credit (for insurance, non-payment of invoices, leases, etc.) but also direct-pay letters of credit 

(used to support municipal and other bond issuance). J.P. Morgan’s letters of credit are acceptable 

and desirable by the beneficiaries (recipients) because of our consistently high credit ratings and 

strong financial performance. 

Our deep familiarity with this sector is viewed as a strong benefit by the public sector clients with 

whom we do business. We believe that our experience in providing credit support, coupled with our 

long experience in deal execution, will help ensure an efficient and cost-effective transaction for the 

District. 

10.14 Additional Services: Proposer may provide information and fee schedules for additional services that 

may be of benefit to the school District. 

Please refer to Section 13.0, Question #13.119 for J.P. Morgan’s recommended services. 

10.15 SCOPE OF SERVICES – GENERAL BANKING SERVICES 

The following is a description of the major services requested by the District. Please see the Prices and 

Services Table for services and volumes fiscal year 2011. 

The School District’s banking needs necessitate multiple transactional accounts including but not 

limited to; District School Fund, Disbursement Account, Payroll Account, Electronic Payment Account, 

and School Food Service Account. Ideally, all transactional accounts will be at a single bank. The District 

plans to maintain depository accounts at one or more additional banks. The current account structure is 

illustrated in the chart in section XIV of this RFP. Services and pricing offered for employee banking is 

also part of the scope of services. 





10.16 BANK ACCOUNTS 

10.17 District School Fund: The District School Fund Account is the School District’s main account and is 

used to collect all receipts. Major revenues delivered from the State of Florida and other agencies via 

wire or ACH are sent to this account. Deposits are prepared by the District and are delivered to the bank 

via a courier. The District is interested in using remote deposit services for this account. All wire 

transfers are initiated from this account. This account serves as the ZBA parent account for the 

Disbursement, Electronic Payments and School Food Service accounts. No checks will be issued from 

this account and all ACH debits must be blocked. 

J.P. Morgan will work with the District to setup various accounts and all ancillary supporting services, 

including ZBA, ACH Debit Block, remote deposit and wire transfers, to effect the most efficient 

process to facilitate the District daily cash management requirements. It will be our goal to partner 

with you to help ensure automation and efficient processes are established to save the District time 

and expense, while at the same time maintain tight controls and security over daily cash operations. 

We are committed to delivering an implementation experience that cooperates with the District 

requirements. Detailed information about J.P. Morgan’s products and services can be found in 

Section 13.0. 

J.P. Morgan offers to the District our Post No Checks Block to guard the District’s accounts. This 

service blocks checks from your J.P. Morgan depository account or account used for electronic debits 

only. 

10.18 Disbursement Account: The Disbursement Account is used for vendor payments. Vendors are paid via 

check or ACH (only charter school FEFP payments and employee 403-B contributions). The account is a 

zero balance sub account with an imprest balance of $100,000. Approximately 1,000 checks and 60 ACH 

items are issued each month. The Bank is expected to provide the District with online notifications of 

changes and ACH returns information. No deposits will be made to this account and ACH debits, with 

the exception of the ACH items originated by the School District, should be blocked. Full Reconcilement 

and Positive Pay are utilized. 

J.P. Morgan is able to meet the requirements as indicated above. Detailed information about J.P. 

Morgan’s products and services can be found in Section 13.0. 

Zero Balance Accounts 

Operating from a ZBA bank account structure, the District will have all available funds concentrated in 

a single concentration account. At the end of the day, this account will either collect all excess cash 

held in the lower tier accounts or automatically fund accounts with a deficit. The structure operates 

with same day value and can be integrated to any combination of disbursement accounts or 

lockboxes/collection accounts allowing for optimal working capital management. 

Features 

• Target balancing: You can choose a target balance to maintain in your subaccounts. 

• Frequency of transfers: Daily 

• Balance type(s): Gross balances and float are transferred to the master account. 

• Backvaluations: Backvalued transactions are automatically transferred to the master account and 

shown on your DDA statement. 

• Account tiers: Up to 10 tiers 

• Movement of funds: Funds move in two directions — to and from the master account to achieve 

your desired target balance in the subaccounts. Both depository and disbursement accounts may 

be included in your zero balance account structure. 





• Timing: Concentration occurs at the end of the day, as the last transaction of the day. During the 

day, transactions in the subaccounts are memo-posted in the master account prior to the end-ofday 

hard post. Teller transactions during the day are performed based on the current funds 

availability across all of the accounts in your zero balance account structure at the time of the 

transaction. 

• Reporting: Account information is available on the monthly DDA statements or BAI service. With 

the J.P. Morgan ACCESS Cash Balances and Transaction Module, you will also be able to view 

reports electronically. 

10.19 Payroll Account: The Payroll Account is used for payment to employees. The District is on a two week 

payroll schedule, paying over 21,000 employees every other Friday. Employee payments are deposited 

to one or two accounts at the financial institution(s) or their choosing. When necessary, off cycle checks 

are issued. Most District employees are currently paid via direct deposit. It is the District’s intention that 

all employees will be paid via ACH either to their bank account or to a pay card by August 1, 2012. 

Proposers shall provide information on pay card services as well as initiatives that will assist in the 

implementation process. 

The account is a manually funded via online book transfers in advance of the payroll date. 

Approximately 2,000 checks and 60,000 ACH items are currently issued each month. The Bank is 

expected to provide the District with online notifications of changes and ACH returns information. No 

deposits will be made to this account and ACH debits, with the exception of the ACH items originated by 

the School District, should be blocked. Full Reconcilement and Positive Pay are utilized. 



10.20 School Food Service Account: The School Food Service account accepts cash, check and credit card 

payments for meals served at all District locations. There are currently 205 locations with new locations 

being added each year. Funds are concentrated daily during the school year to the District School Fund 

account via a zero balance service. Deposits are delivered to the main branch or money center of the 

Bank via District contracted armored car service. Deposits for the School Food Service Account will be 

identified by the individual school location number and must be reflected as such in deposit 

reconciliation. The District is interested in using remote deposit services for this account. The data must 

be available electronically to the district. There are approximately 3,300 deposits and 8,800 checks 

deposited monthly to this account. No checks will be issued from this account and all ACH debits must 

be blocked. 



We will work with the District to create the appropriate account structure. 

10.21 Electronic Payment Account: As a rule, the District does not allow ACH debits to post to any bank 

account. This account is used to facilitate payments that can only be made via ACH debits that are 

initiated by the School District. As such, ACH filters will be needed. At this time, those payments are 

limited to Payroll Taxes, Unemployment and Sales Tax Payments due to the IRS or the State of Florida 

and Health Insurance Payments currently administered by United Health Care. 

To protect the District from unauthorized ACH transactions, J.P. Morgan provides both ACH debit 

blocking and more specific ACH Transaction Review products. 

ACH Debit Block enables the District to specify which companies are authorized to post ACH debits 

to the District’s accounts, blocking those that are not authorized. You can also set dollar limit ceilings 

or block all debits from posting. 

With ACH Debit Block Transaction Report, the District receives a daily report that provides a listing of 

all transactions that are blocked. Data is transmitted via Secure eMail SM to indicate blocked 





transactions, or an optional e-mail indicating that no transactions are blocked. Detailed information 

about J.P. Morgan’s products and services can be found in Section 13.0. 

10.22 Imprest Accounts: The District's third party administrator for Workman’s Compensation has an imprest 

account with the District's Bank. That account is included in the District's analysis group and earns 

service credits for the District. Other third party administrators for the District have imprest accounts but 

not with the District's Bank. Partial Reconcilement and remote deposit are utilized for this account. 

Proposers should include in their proposal a section discussing their ability to mirror or improve upon 

the current arrangement. 

J.P. Morgan is able to meet the requirements as indicated above. Detailed information about Partial 

Reconciliation can be found in Question 10.27 below. Remote deposit service is described in 

Question 13.51 below. 

10.23 Deposits: The District will present two copies of the deposit slip with each deposit. The Bank will return 

one validated deposit slip by mail to the District’s originator of the deposit slip. Bulk coins will be 

deposited on a daily basis and they will be bagged. The Bank will recount and forward any adjustment 

information to the District’s Accounting department. The fees associated with any special orders for 

cash deposits must be stated in the proposed fee schedule. At this time, the District does not currently 

wish the Bank to redeposit any returned items but reserves the right to alter that practice in the future. 

The District is interested in utilizing remote deposit. Proposers should include information and pricing 

regarding this service. 

J.P. Morgan is able to meet the requirements as indicated above. The depository banking solutions 

that we propose combine both traditional and advanced technology treasury management services. 

The District will have access to a variety of depository services offered by J.P. Morgan; including cash 

vault services and remote deposit of checks. 

Check Processing 

Currently, the District receives both checks and currency via various collection channels. We 

recommend implementing remote deposit of check payments. Image Deposit Direct (IDD), J.P. 

Morgan’s remote check capture/scanning solution will enable each location to deposit checks and 

money orders from their location by scanning them into images and transmitting the images to the 

bank for clearing. All of the deposit activity is easily available through a set of reports and electronic 

check images, both on-screen and downloadable. Remote deposit capture will mitigate risk, provide 

more timely deposit capabilities, and offer the ability to leverage the ACH network for expedited 

clearing and collection of funds. More information about IDD can be found in Section 13.0 below. 

Cash Deposits 

The District currently also collects and deposits cash as part of their normal operations. It is our 

understanding that cash deposits are currently transported via armored car. We recommend the use 

of our Cash Vault processing solution for the District’s cash deposits. Please refer to Question 13.61 

for Cash Vault information. 

10.24 Change Orders: The District will make a change order request at the start of the school year for each of 

the school cafeterias. The change fund is mostly self-replenished during the school year. The funds are 

closed at the end of the school year. Change order requests within the school year are minimal. 

J.P. Morgan offers automated coin and currency ordering services (change order services). These 

options are available through all vaults and branches. The District may request change orders as the 

need for coin and currency arises or establish a standing order online or via telephone using the voice 

response unit (VRU) or through our Web Currency Services ordering platform. 





10.25 Transfers: The District makes certain payments via wire transfers. While the intent is to initiate only 

repetitive wires, non-repetitive wires may be initiated with dual control. All wires will be initiated 

electronically via an online system. Only in the event of an emergency, such as a natural disaster, will 

wire transfers be requested via telephone. Outgoing wire transfer instructions must be accepted up to 

5:00 p.m. for the same day transmittal. 

The Bank shall be liable for its failure to timely record incoming wire transfers or transmit outgoing wire 

transfers. The Bank shall pay the District for any loss of income or costs and penalties incurred. 

Confirmation of completed transfers shall be provided to the District via the bank’s online system. The 

Bank shall follow-up on incoming and outgoing wire transfers to the full extent of its authority. 

If needed, the Bank will accept instructions to transfer funds from one account to another within the 

Bank “book transfers” up to 6:00 p.m. on the day the instructions are given unless a different day is 

indicated. Instructions may be given electronically, by telephone, or in writing with all telephone 

instructions confirmed in writing by the originating authorized District representative. 

Using J.P. Morgan ACCESS, the District will be able to originate online wire transfers as required 

above. Telephone wire transfers are also available as described in Section 13.80 below. 

J.P. Morgan agrees to be responsible for direct damages (loss of interest earned) in event the bank 

fails to timely process payment instructions. 

Book Transfers can be initiated by the District via the J.P. Morgan ACCESS Account Transfer (AT) 

module. AT allows authorized J.P. Morgan ACCESS users to move funds quickly and easily between 

accounts, build and reuse transfer templates and access current-day and historical transactions: 

• Create, save and reuse templates with the Quick Entry feature 

• Enter transfers 24 hours a day, seven days a week; transactions after 11:00 p.m. ET are applied 

the following business day 

• Access historical information 

10.26 Stop Payments: All stop payment orders will be made electronically. On rare occasions, it may be 

necessary to initiate a stop payment by telephone. When the District places stop payment orders, the 

Bank will immediately inform the District electronically if the check has been cashed and provide an 

image of the cashed item to the District. If not cashed, the Bank will provide an electronic confirmation of 

the stop payment. Stop payments shall be effective for a period of not less than eighteen months. 

Cancellation of a stop payment order will be processed in the same way as the stop payment order. All 

checks paid by the Bank after the above procedure has been adhered to will be the responsibility of the 

Bank. 

The District may place (or revoke) stop payments online through Payables Web Services (PWS), the 

disbursement module of the J.P. Morgan ACCESS portal. The District may also inquire on the realtime 

status of an individual or range of checks, retrieve images, request photocopies and take action 

according to each check’s status. 





J.P. Morgan ACCESS Stop Payment Screen 

Figure 2 

The system will search 90 days transaction history to identify if the check has been paid (extended 

retention periods are available). If the record shows the check has been paid, the system will report 

the date the item was paid. The District can use this information to retrieve an image of the paid item. 

Once the stop payment is submitted the system can provide confirmation online of successful stop 

payment. You may print or download details as needed. Furthermore, stop payment activity reports 

are available through J.P. Morgan ACCESS. 

Stop payment requests remain in effect for one year and are renewable for an additional six years. 

The District will have the ability to remove the automatic renewal. 

Clients also have a fallback option. Simply contact your dedicated Client Service Professional (CSP) 

to issue a stop payment. 

10.27 Bank Reconciliation Services: The bank shall have the capability to effect account reconciliation 

between the Bank and the District by direct transmissions furnished by the District detailing checks 

issued. Specific details of such data transmission will be coordinated with the District’s technical staff, 

upon selection. The District utilizes positive pay services on the District’s Disbursement Account and 

Payroll Account. The proposer is required to provide the District with all of the necessary information 

regarding full account reconciliation with positive pay features. Additionally, time schedules including 

deadlines for these services should be included in the proposal. 

J.P. Morgan offers clients a complete range of account reconciliation services. All ARP services are 

optional and are designed to enhance reconciliation efficiencies. From statement cutoff to receipt of 

account statements, checks and full reconcilement information, J.P. Morgan’s normal turnaround time 

spans up to five business days. These services are described in further detail below. 

Partial Reconciliation 

Partial Reconciliation provides the District with a detailed listing of checks paid against a 

disbursement account over a client-defined period of time. This service also details certain other 





categories, such as stopped checks. Checks are typically listed in check serial number sequence with 

the amount and date each check was paid. 

Deposit Reconciliation 

Deposit Reconciliation provides clients with a listing of all deposits identified by department/location 

number as well as miscellaneous debit/credit deposit adjustments on a hard copy report. Reports can 

be sorted by account and department/location. This allows deposits from multiple locations to be 

made into a single account. Deposit slips are preprinted with a Unique Location ID (ULID) for each 

department/location, and deposit history information is sorted by account and ULID. 

Full Reconciliation 

J.P. Morgan offers the District a complete reconciliation of outstanding and paid checks with the 

option of reconciling accounts by the week, month, fiscal or calendar year in format tailored to meet 

your needs. You provide us with detailed check issue data, including account numbers, check 

numbers, issue dates, dollar amounts and reference information. The District chooses how you wish 

to supply this data: either in a file transmission, an upload to the J.P. Morgan ACCESS Payables Web 

Services (PWS) module, or by manual key entry into PWS, as warranted by the check activity in each 

account. 

Clients can manually key issues or deletes via PWS, submit them via direct transmission or contact 

operations to have bank personnel manually key the items. Manual issues and file uploads can be 

sent via PWS until 8:00 p.m. ET or transmitted up until 11:00 p.m. ET. Any entries or files received 

and accepted after the deadlines are included in the next day’s ARP batches. 

With check issued data, J.P. Morgan will perform a full reconciliation of activity in the account, 

delivering a Reconciliation Report Package via the Internet. The Standard Full Reconciliation 

package includes an account statement, balance sheet, paid and outstanding check listing, plus a 

summary including check number, issue date, amount paid and paid date. 





The District can receive Account Reconciliation Reports via the Internet. 

Figure 3 

Payables Web Services (PWS) 

The District’s reconciliation reports and data files will be available online via Payables Web Services 

(PWS), our Internet-based reconciliation product, within five business days after the close of a cutoff 

cycle. 

Data Download 

Clients can use the Data Download feature in PWS to reconcile accounts or perform extensive 

research on activity: 

• Data Download enables clients to download disbursement transaction detail information in a 

Comma Separated Value (CSV) or Quickbook format file (QBO). 

• Transactions available for ARP accounts include outstanding and cancelled check status 

transactions along with paid, stop payment and return transactions. 

• Non-ARP accounts will only have paid, stop payment and return transactions. Filters include 

account number, transaction status category, date paid, effective date. 

• Clients determine filter options; each request is tracked and fulfilled within their own PWS Inbox. 

• Transaction types available for download include: 

• All Item Download 

• Debits 

• Credits 

• Paid Check Returns 

• Stops 





Additionally, clients can modify Data Download results by applying transaction type, date ranges and 

account filters. 

File Incoming/Outgoing 

Clients can upload issue files into PWS in Fixed Text, CSV, or XML formats. 

10.28 Overdrafts: It is not the intention of the District to overdraw any account. In the event of an overdraft, all 

checks presented for payment shall be paid. The Treasurer or designee shall confirm wires or ACH 

transfers that will result in an overdraft. The bank shall complete the wire/ACH transfer after 

confirmation. No service fee shall be charged to the District for overdrafts. 

J.P. Morgan understands the great importance of timely payments to your vendors and employees 

and that unintended situations occur and as such, overdrafts are reviewed daily in careful 

consultation with our clients. J.P. Morgan does not charge for either intra-day credit (IDL) or intra-day 

liquidity (Fed daylight overdraft) usage arising in the context of normal clearing activities at this time. 

The Bank routinely discusses significant use of intra-day liquidity with clients with a view to better 

managing this usage, and we reserve the right to potentially charge. Overdrafts in general are subject 

to J.P. Morgan’s credit approval process and are evaluated on a case-by-case basis. We welcome 

the opportunity to work with the District to define and establish any overdraft facilities needed to 

support your banking operations. 

10.29 SCOPE OF SERVICES – SCHOOL ACTIVITY ACCOUNTS 

10.30 School Activity Accounts: There are currently 176 school centers and each school has one checking 

account. The District intends to select one or more bank(s) to provide banking services to our schools. 

The District’s elementary schools typically have the lowest account balances and high schools have the 

highest account balances. While the balances maintained in these accounts vary during each school 

year, as of June 30, 2011 the aggregate balance was approximately fourteen million dollars. The 

District’s Treasurer must authorize the establishment all bank accounts. Proposers shall propose an 

account and pricing structure for these accounts. Pricing should be independent of the proposer being 

awarded the District’s business. Services required include but are not limited to basic depository 

services, online access to view account activity. 

The District may, in the future, consider consolidation of these accounts to a single bank account. At 

that time, deposit reconciliation with transmission output, positive pay with full reconciliation and 

transmission output, and online access would be required. 

J.P. Morgan’s particular expertise lies in adapting and aligning its vast breadth of solutions to the 

specific operating requirements and unique environments of our clients. We accomplish this by 

listening to our customers to develop an understanding of their operating environments. We then 

move ahead by constructing a solution that not only meets our clients’ existing operational needs, but 

that also challenges them to consider operational improvements. Our solutions are geared toward 

increasing the level of automation in banking account structures while limiting the number of accounts 

contained within those structures. We endeavor to isolate areas where paper processes can be 

eliminated and where manual processes can be reduced. We also look for the best utilization of 

operating cash, both day-to-day operating balances, as well as any excesses. It is our intent to bring 

this same approach to the School District of Palm Beach County as we endeavor to strengthen and 

grow our relationship. 

The Bank is in agreement with the District’s future plans to consolidate all school accounts into a 

single depository account with deposit reconciliation. In preparation for this consolidated account 

model, consideration should be given to grouping schools by specific territories first where one 

checking account can be used to support multiple schools. This future model as well as the District’s 

proposed account structure in this request for proposal would be complimented with the use of 





Remote Deposit Capture in all schools and electronic location reporting for check and cash deposits. 

For billing purposes, J.P. Morgan Chase is recommending that the District manage a separate billing 

group for all school accounts or multiple billing groups depending on the desired group structure. We 

are offering the schools our Market Managed Earnings Credit Rate (ECR) of 0.40% with a floor of 

0.40% to help offset related account fees. As an alternative, the District may choose to switch to an 

indexed based rate of T-Bill Rate: 4-week average of the 91-day T-Bill discount rate + 10 bps. 

J.P. Morgan is also pleased to offer the District the following throughout the term of the contract: 

• Change your base rate up to one time per initial contract period and within each renewal period. 

For example, if you select our proposed Managed Rate today because rates are higher, you will 

have the opportunity to change your ECR to the index rate described above, if that rate is higher. 

You can request a rate change up to one time within the initial term of the contract and within 

each renewal period. 

• Once per year, we propose to meet with you and re-evaluate the available investment options 

and determine what structure or combination of products will allow you to maximize your interest 

income. We will provide the on-going support necessary to assist with your critical decisions 

relative to investing your funds and maximizing interest earnings. 

10.31 Deposits: The District will present two copies of the deposit slip with each deposit. The Bank will return 

one validated deposit slip by mail to the District’s originator of the deposit slip. Bulk coins will be 

deposited on a daily basis and they will be bagged. The Bank will recount and forward any adjustment 

information to the District’s originator of the deposit slip. The fees associated with any special orders for 

cash deposits must be stated in the proposed fee schedule. At this time, the District does not wish the 

Bank to redeposit any returned items but reserves the right to alter that practice in the future. The 

District is interested in utilizing remote deposit. Proposers should include information and pricing 

regarding this service. 

J.P. Morgan offers a variety of check and cash deposit methods. Please refer to Question 10.23 for 

J.P. Morgan’s recommendation for cash and check deposits. 

10.32 Checks: Each school will have four authorized signers and two signatures will be required on each 

check. The Principal or Area Superintendent must be one of the signers on each check. The other two 

authorized signers will be the School Treasurer and an Alternate that is appointed by the School 

Principal. The District Treasurer will provide the bank with the list of approved signatories and will 

coordinate the delivery of revised signature cards as needed to the selected bank. 

Signature verification is not a standard service offered by J.P. Morgan. We recommend positive pay 

or reverse positive pay to combat fraud and manage signature controls. With reverse positive pay a 

dollar threshold can be established by the District and e-mail alerts can be set-up for checks that are 

presented over a certain dollar threshold. This will then offer the District the opportunity to make a 

return decision on an item that does not meet the District’s signature requirements. 

10.33 SCOPE OF SERVICES – CUSTODIAL SERVICES 

10.34 Custodial Services: Custodial services are limited to handling the settlement of fixed-income trades for 

short-term cash positions; however, services will not involve any investment management functions for 


JPM acknowledges that Custody will not involve any investment management functions. 





10.35 The District maintains an investment portfolio for its general operating needs. This portfolio is generally 

limited to a short-term investment horizon with a maximum maturity for any security being five years. To 

a large degree, the maturity structure is oriented toward meeting cash flow requirements dictated 

primarily by debt service obligations, bi-weekly payroll obligations, and the seasonal pattern of property 

tax collections. Accordingly, a sizable portion of the District’s general investment portfolio is made up of 

direct obligations of the United States government and federal agency securities with maturities of one 

year or less. Investments beyond one year are generally associated with bond proceeds and certain 

funds, which have historically carried a stable level of cash reserves. 

J.P. Morgan acknowledges the above mentioned investment strategy and will have no difficulty 

providing custody services under this strategy. 

10.36 School District securities, which must settle delivery vs. payment for delivery through the Federal 

Reserve Bank in book entry form, will credit to the Bank’s Federal Reserve Account for further credit to 

the School District. The Federal Reserve receipt and safekeeping receipt must identify the “CUSIP” 

number and the School District as the beneficial owner. All securities held by the custodian shall be 

segregated from the assets of others and shall remain the sole property of the School District. The 

custodian shall have only the bare custody thereof. 

J.P. Morgan acknowledges this requirement and in the course of normal business utilizes the Federal 

Reserve Bank’s Federal Book Entry system to settle and hold securities on behalf of our clients. 

10.37 The Bank should provide the District with a pricing schedule for safekeeping services. The District 

reserves the right to contract for safekeeping services outside of the Banking Services contract. 

Our fee schedule is included the Cost of Services document. 

10.38 The custodian will collect all coupons and other periodic income on securities held and process any 

instructions received by authorized District personnel. 

Income collection is a normal and customary part of the custody services we intend on delivering to 


10.39 The Proposer shall monitor and record the collection of funds in District accounts. 

All funds collected by the Bank on behalf of the District shall be monitored and recorded in the 

appropriate accounts. 

10.40 Create, maintain, and retain all records relating to securities held in custody in the District’s accounts to 

meet the requirements and obligations under generally accepted accounting principles. 

J.P. Morgan will create and maintain all records related to securities / assets held on behalf of the 

District. Our accounting reports meet generally accepted accounting principles. 

10.41 The Proposer shall provide monthly reports describing all activities within the custodial account. Online 

access to the information, including current day balances and activity, shall also be available. 

Monthly reports including activity and holdings in both hard copy and on-line access will be provided 

for all custody accounts. 

10.42 Calculate the market value of all collateral securities pledged on the District’s accounts and report this 

information, along with a detailed report listing the accounts and deposit balances so secured, to the 

District each month. This report must verify the adequacy of collateral as specified in the District's 

deposit collateralization requirements. 

JP Morgan Chase Bank, N.A. will provide collateral in the form of bank owned securities to cover the 

Palm Beach County School District public fund deposits in excess of FDIC insurance. 

Collateralization of public fund deposits is provided through our National Collateral Management 





Group (NCMG). NCMG is responsible for meeting the collateralization requirements of J.P. Morgan 

Chase Bank, N.A. clients. 

According to Florida regulations, the Bank is required to collateralize all deposits using a pooled 

method (contingent liability) and report all collateral and deposits pledged to the Florida CFO. 

Because of this, the Bank is unable to report market value of securities pledged specifically for Palm 

Beach County School District because the collateral will cover all public fund deposits within the State 

of Florida and will not be segregated to a specific customer. 

A third-party, joint custody account will be established with The Bank of New York (BONY). NCMG 

will monitor the account balances of Palm Beach County School District and the other public 

depositors in the Florida collateral pool on a daily basis. When balances in the Florida collateral pool 

exceed the required collateral pledging level applicable to J.P. Morgan, NCMG will provide additional 

collateral to secure deposits up to the applicable collateral pledging level. The Market Value of 

securities is updated on a daily basis by an independent third party vendor. Adjustments to collateral 

are made daily to compensate for fluctuations in market prices. 

10.43 Provide monthly activity statements and reports for all accounts. The statement cut off should be the 

last day of the month. Statements must be sent by no later than the 10th business day of the following 

month. 

Monthly reports including activity and holdings in both hard copy and on-line access will be provided 

for all custody accounts. Statement cutoff will be the last day of the month. Statements will be 

available on-line and be mailed no later than the 10th business day following period end. 

10.44 The District will transfer funds to and from the account as needed via an online system. 

J.P. Morgan will require properly authorized notification for all fund transfers. 

10.45 During the one-year period ending March 1, 2012, the District maintained an average balance in its 

general investment portfolio of approximately $84 million, exclusive of overnight Repurchase 

Agreements. 

J.P. Morgan acknowledges the average balance in the general investment portfolio of approximately 

$84mm. 

10.46 The Proposer shall be required to provide a SAS 70 or an equivalent that will be accepted by the School 

District’s External Auditors and the Florida Auditor General annually as of June 30. 

J.P. Morgan will provide SAS 70 or equivalent upon request, at least annually as of June 30. 





Time of Completion: 

State your ability to meet the time requirements. 

Over many years we have developed a robust project management methodology that is designed to deliver 

an accurate implementation for our clients within pre-agreed time frames. It is important that we establish up 

front what the District’s timeline requirements are. We will be able to contribute our experience of delivering 

many similar solutions so that realistic deadlines are established at the outset. 

The District’s sample implementation project plan, attached in Appendix 5, clearly illustrates the individual 

tasks involved in the implementation and how they fit in to the overall timeline. Regular meetings/calls to 

discuss issues and provide status updates are key to ensuring that the project remains on track. 





Executive Summary: 

Highlight key areas of proposal and summarize on not more than two (2) pages why the bank should be selected 

for award. 

The School District of Palm Beach County will receive exemplary banking services from JPMorgan Chase 

Bank, N.A.’s local government banking team. We are excited about the opportunity to form a treasury 

services partnership with the District. The proposed solution is comprised of both core and suggested 

services, which represent our understanding, ability and commitment to this important project, as detailed in 

the following response to the District’s Request for Proposal (RFP) for Banking Services. We have the 

financial strength, technology and service organization to 

provide the required services in this RFP. 

Advantage J.P. Morgan 

Our Commitment to the Public Sector and Florida 

Our National Public Sector practice represents the largest 

industry segment of our Commercial Banking line of business 

and receives significant ongoing capital investments so that 

these relationships are well supported. Further, we are now a 

JPMorgan Chase named “Best 

Bank in North America, “Best 

Banks by Region 

Global Finance Magazine - 2012 

State Depository Bank; cementing our commitment to the State of Florida and especially, to the unique needs 

of its counties, cities and municipalities. JPMorgan Chase Bank, N.A. is a Qualified Public Depository (QPD) 

in Florida. 

Within the Treasury Services business, the public sector is a key industry segment in which J.P. Morgan 

continues to invest and enjoy ongoing growth. Our Public Sector Division supports more than 3,500 public 

sector clients at the Federal, State, and municipal levels with solutions for tax processing, electronic benefits 

transfer, unemployment insurance, workers compensation and general banking services. 

With more than 135,000 clients and operations in 60 countries, J.P. Morgan Treasury Services is one of the 

world's largest providers of treasury management services. Across the country, more than 5,200 schools and 

universities bank with J.P. Morgan. 

Improving Treasury Processes 

At J.P. Morgan, our approach is one of alliance - a partnership. We resolve to bring solutions to complex 

treasury management issues, to provide comprehensive support and technical assistance, and to harness 

every appropriate resource that our global organization has to offer. Although we are a global organization, 

we are also very dedicated to serving our local community. J.P. Morgan employs more than 17,500 people in 

Florida, with approximately 800 people working in Palm Beach County. Last year we provided more than $7.1 

million in contributions to charities across the state. 

J.P. Morgan offers you the convenience of access to more than 5,500 bank branches and 17,000 ATMs 

across our 23-state footprint from New York to California. The closest full service branch to the School District 

of Palm Beach County is our Forest Hill West Palm Beach branch, which is located at 4660 Forest Hill Blvd, 

West Palm Beach, FL. 

Solution Overview 

The District can securely utilize J.P. Morgan’s range of cash management products and services to improve 

operational efficiencies. 

ACH 

As a financial institution organized under the laws of the United States, J.P. Morgan has been a founding 

member of the National Automated Clearinghouse Association (NACHA) since 1972. In 1985, we 





incorporated as an ACH bank demonstrating our commitment to the business and our ongoing banking 

service relationship to our clients. 

Full Account Reconciliation and Positive Pay 

Our Full Reconciliation Service offers a complete reconciliation of both outstanding and paid checks in a 

format tailored to meet your needs. 

As part of J.P. Morgan’s suite of fraud protection services, positive pay examines and addresses each 

component of the check presentment process, including emailed exception notification. 

Web-Based Integration of Treasury Services 

The District staff will find the J.P. Morgan ACCESS portal to be an efficient means of executing their daily job 

functions, including generating and reviewing standard and detailed reports; initiating wires, account transfers, 

ACH transactions; and managing the full breath of check disbursements through the Payables Web Services 

module. 

Chase at Work 

A program designed to help the District better manage payrolls, while helping employees bank conveniently 

and receive great discounts – all at no cost to the District. 

Relationship Team 

The Government relationship team located in Florida will be your primary contacts. They will be responsible 

for responding to your inquiries and requests for services, while attending to daily activities regarding the 

District’s money matters and accounts. This team is made up of professionals that provide answers by taking 

time to understand your business, listening carefully and proactively providing ideas. 

Your designated Relationship Manager, Ralph Hildevert, will be your primary point of contact. Ralph is located 

in Miami and has been with J.P. Morgan for over 15 years and works exclusively with Public Sector clients in 

the South Florida region. Your Treasury Sales Manager, Marcos Cordero, will lead the Treasury Services 

team for the District. Marcos has 15 years of banking experience and also supports Public Sector clients in 

the south Florida region. He assists in designing the most efficient account structure and will notify you of 

enhancements to our products and services. Daily client service will be provided by Carol Leonard, located in 

Tampa. Carol has 22 years of banking experience and also supports Public Sector clients in the south Florida 

region. Carol’s backup will be Mayra Perez also located in Tampa. 

Our commitment to Client Service and Quality is what sets us apart from other financial institutions offering 

similar services. 

Conclusion 

In closing, J.P. Morgan would like to once again express our strong interest in and commitment to the 

success of the District’s banking services solution. The J.P. Morgan team is confident that we have presented 

a compelling offering to meet and exceed the District ’s requirements and objectives. We believe our industry 

leadership and depth of experience in core cash management solutions will help deliver considerable cost 

savings and increase efficiency for the District. 

By selecting J.P. Morgan as your service provider, the School District of Palm Beach County can be confident 

that you will be supported by knowledgeable personnel, advanced technology, a consultative approach and a 

strong commitment to your banking needs. 





Cost of Services: 

The pricing portion of the Proposal will be only considered after the other criteria have been scored. Do not 

include your pricing in the body of your proposal. 

The Cost of Services Form is included as a separate document upload in DemandStar as requested. 





Cost and M/WBE: 

Submit Cost of Services and M/WBE portion of your proposal for this project as a separate document upload to 

DemandStar. See Section 16.0. 

The Cost of Services and M/WBE Forms are included as separate document uploads in DemandStar as 

requested. 





Insurance: 

Provide proof of contract awarded proposer(s) insurance as required in Section 28.0 of this RFP or submit a 

letter of contract awarded proposer(s) intention to have the required insurance within ten days of notification by 


J.P. Morgan has delineated below the terms or conditions that we respectfully request be modified along with 

our recommended revisions. We are, of course, willing to discuss mutually agreeable modifications to the 

contract terms. Our proposal is not contingent upon the following requested changes. 

The proposed changes are indicated by additions in italic, underlined, red text and deletions by strikethrough, 

red text. 

All information contained herein is completed and certified to the best knowledge of the undersigned. 

Section 12.13 

Insurance: Provide proof of contract awarded proper(s) insurance as required in Section 

28.0 of this RFP or submit a letter of contract awarded proper(s) intention to have the 

required insurance within ten (10) days of notification by the District. 

Corporate Insurance Services response: Awarded Proposer is attaching certificates of 

insurance on the following pages to evidence that the required coverages are in place. 

Actual certificates of insurance will be evidenced upon award of the contract. 

Section 28.0 

Insurance Requirements 

28.1 Proof of insurance must be furnished by the awarded proposers to the District by 

Certificate of Insurance. All insurance must be issued by a company or companies 

approved by the Board having an A.M. Best’s rating of A-/VIII or better. 

28.2 Original Certificates of Insurance meeting the specific required provision specified within 

his RFP shall be forwarded to the District's Purchasing Department, ATTN: Carol Moore, 

Purchasing Agent, and approved prior to the start of any work or the possession of any 

school property. Renewal certificates must be forwarded to the same department prior to 

the policy renewal date. 

28.3 Thirty days written notice must be provided to the District via certified mail in the event of 

cancellation of insurance. The notice of cancellation must be sent to the Purchasing 

Department. 

28.4 The awarded proposers shall provide complete copies of any insurance policy for 

required coverage within seven days of the date of request by the Purchasing 

Department but in any respect at least 30 days prior to the commencement of any term. 

For all contracts with an amount of $500,000 or more the actual INSURANCE POLICY 

must be included with the Certificate of Insurance. 

A. WORKERS' COMPENSATION: Proposer(s) must comply with Section 440, Florida Statutes, 

Workers’ Compensation and Employees’ Liability Insurance with minimum statutory 

limits. 

B. COMMERCIAL GENERAL LIABILITY: Awarded proposers shall procure and maintain, for the life 

of the contract, Commercial General Liability Insurance. This policy shall provide 

coverage for death, bodily injury, personal injury, products and completed operations 





liability and property damage that could arise directly or indirectly from the performance 

of the contract. It must be an occurrence form policy. THE SCHOOL BOARD OF PALM 

BEACH COUNTY SHALL BE NAMED AS AN ADDITIONAL INSURED AS THEIR 

INTEREST MAY APPEAR RELATIVE TO ANY CLAIMS WHICH ARISE DUE TO 

NEGLIGENT ACTS OR OMISSIONS IN CONNECTION WITH THE PERFORMANCE 

OF THIS CONTRACT ON THE CERTIFICATE FOR COMMERCIAL GENERAL 

LIABILITY INSURANCE. 

The minimum limits of coverage shall be $1,000,000 per occurrence, Combined, Single 

Limit for Bodily Injury Liability and Property Damage Liability. 

C. PROFESSIONAL LIABILITY: The awarded proposer shall procure and maintain 

Professional Liability Insurance for the life of the contract, plus two years after 

completion. This insurance shall provide coverage against such liability for professional 

services resulting in wrongful acts under from the contract. The minimum limits of 

coverage shall be $5,000,000 per wrongful act and in the aggregate with a deductible not 

to exceed $25,000. The deductible shall be the responsibility of the insured. The 

awarded proposer reserves the right to self-insure as respects Professional Liability. 

This policy must be continued or tail coverage provided for two years after completion of 

the contract. 


4/1/12-4/1/13 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

570045781640 

 

 

 

 

 

 

 

 

A 

 

B 

X 

X 

X Blanket Contractual Liability 

X Host Liquor Liability Included 

A 

D 

C 

C 

C 

 

 

 

X 

 

 

X 

 

 

 

 

 

 

 

 

X 

 

X 

 

X 

 

 

 

 

 

N 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

X 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

570045781640

PRODUCER 

DIRECT PLACEMENT 

INSURED 

JPMorgan Chase & Co. and any Subsidiary Company 

270 Park Avenue 

New York, NY 10017 

CERTIFICATE OF INSURANCE 

THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE 

CERTIFICATE HOLDER OTHER THAN THOSE PROVIDED IN THE POLICY. THIS CERTIFICATE DOES NOT AMEND, EXTEND 

OR ALTER THE COVERAGE AFFORDED BY THE POLICIES DESCRIBED HEREIN. 

COMPANIES AFFORDING COVERAGE 

COMPANY 

A Park Assurance Company 

COMPANY 

B 

COMPANY 

C 

COMPANY 

D 

COMPANY 

E 

COVERAGES 

This certificate supersedes and replaces any previously issued certificate for the policy period noted below. 

THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE DESCRIBED HEREIN HAVE BEEN ISSUED TO THE INSURED NAMED HEREIN FOR THE POLICY PERIOD 

INDICTED, NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THE 

CERTIFICATE MAY BE ISSUED OR MAY PERTAIN. THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, CONDITIONS 

AND EXCLUSIONS OF SUCH POLICIES. AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. 

CO 

LT 

GENERAL LIABILITY 

TYPE OF INSURANCE POLICY NUMBER POLICY EFFECTIVE 

DATE (MM/DD/YY) 

POLICY EXPIRATION 


COMMERCIAL GENERAL LIABILITY GENERAL AGGREGATE $ 

CLAIMS MADE OCCUR PRODUCTS-COMP/OP AGG $ 

OWNER’S & CONTRACTOR’S PROT PERSONAL & ADV INJURY $ 

LIMITS 

EACH OCCURRENCE $ 

_____________________________________ 

FIRE DAMAGE (Any one fire) $ 

MED EXP (Any one person) $ 

AUTOMOBILE LIABILITY 

ANY AUTO COMBINED SINGLE LIMIT $ 

ALL OWNED AUTOS 

BODILY INJURY 

(Per Person) $ 

SCHEDULED AUTOS 

BODILY INJURY 

(Per Accident) $ 

HIRED AUTOS PROPERTY DAMAGE $ 

NON-OWNED AUTOS 

__________________________ 

GARAGE LIABILITY AUTO ONLY-EA ACCIDENT $ 

ANY AUTO 

OTHER THAN AUTO ONLY 

__________________________ EACH ACCIDENT $ 

AGGREGATE $ 

EXCESS LIABILITY EACH OCCURRENCE $ 

UMBRELLA FORM AGGREGATE $ 

OTHER THAN UMBRELLA FORM $ 

WORKERS CO MPENSATION AND 

WC STATU- 

OTH- 

TORY LIMIT 

ER 

EMPLOYER’S LIABILITY 

THE PROPRIETOR/ 

PARTNERS/EXECUTIVE 

OFFICERS ARE: 

INCL 

EXCL 

EL EACH ACCIDENT $ 

EL DISEASE-POLICY LIMIT $ 

EL DISEASE-EA EMPLOYEE $ 

A 

OTHER 

Bankers Professional 

Liability Insurance 

030 01/15/12 01/15/13 $100,000,000 aggregate 

DESCRIPTION OF OPERATIONS/LOCATIONS/VEHICLES/SPECIAL ITEMS 

Errors and Omissions Insurance. 

CERTIFICATE HOLDER 

JPMorgan Chase & Co. and any Subsidiary Company 



CANCELLATION 

SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE 

THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERD IN 

ACCORDANCE WITH THE POLICY PROVISIONS. 

PARK ASSURANCE COMPANY 

BY: 

VALID AS OF:

PRODUCER 

DIRECT PLACEMENT 

INSURED 

JPMorgan Chase & Co. 


New York, New York 10017 

CERTIFICATE OF INSURANCE 

THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE 

CERTIFICATE HOLDER OTHER THAN THOSE PROVIDED IN THE POLICY. THIS CERTIFICATE DOES NOT AMEND, EXTEND 

OR ALTER THE COVERAGE AFFORDED BY THE POLICIES DESCRIBED HEREIN. 

COMPANIES AFFORDING COVERAGE 

COMPANY 

A Park Assurance Company 

COMPANY 

B 

COMPANY 

C 

COMPANY 

D 

COMPANY 

E 

This certificate supersedes and replaces any previously issued certificate for the policy period noted below. 

COVERAGES 

THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE DESCRIBED HEREIN HAVE BEEN ISSUED TO THE INSURED NAMED HEREIN FOR THE POLICY PERIOD 

INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THE 

CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, CONDITIONS 

AND EXCLUSIONS OF SUCH POLICIES. AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. 

CO 

LT 

GENERAL LIABILITY 

TYPE OF INSURANCE POLICY NUMBER POLICY EFFECTIVE 


POLICY EXPIRATION 


COMMERCIAL GENERAL LIABILITY GENERAL AGGREGATE $ 

CLAIMS MADE OCCUR PRODUCTS-COMP/OP AGG $ 

OWNER’S & CONTRACTOR’S PROT PERSONAL & ADV INJURY $ 

LIMITS 

EACH OCCURRENCE $ 

_____________________________________ 

FIRE DAMAGE (Any one fire) $ 

MED EXP (Any one person) $ 

AUTOMOBILE LIABILITY 

ANY AUTO COMBINED SINGLE LIMIT $ 

ALL OWNED AUTOS 

BODILY INJURY 

(Per Person) $ 

SCHEDULED AUTOS 

BODILY INJURY 

(Per Accident) $ 

HIRED AUTOS PROPERTY DAMAGE $ 

NON-OWNED AUTOS 

__________________________ 

GARAGE LIABILITY AUTO ONLY-EA ACCIDENT $ 

ANY AUTO 

OTHER THAN AUTO ONLY 

__________________________ EACH ACCIDENT $ 

AGGREGATE $ 

EXCESS LIABILITY EACH OCCURRENCE $ 

UMBRELLA FORM AGGREGATE $ 

OTHER THAN UMBRELLA FORM $ 

WORKERS CO MPENSATION AND 

WC STATU- 

OTH- 

TORY LIMIT 

ER 

EMPLOYER’S LIABILITY 

THE PROPRIETOR/ 

PARTNERS/EXECUTIVE 

OFFICERS ARE: 

INCL 

EXCL 

EL EACH ACCIDENT $ 

EL DISEASE-POLICY LIMIT $ 

EL DISEASE-EA EMPLOYEE $ 

A 

OTHER 

Financial Institution Bond 

Form 24 / Electronic and 

Computer Crime Policy 

200-06 07/01/11 07/01/12 $300,000,000 

DESCRIPTION OF OPERATIONS/LOCATIONS/VEHICLES/SPECIAL ITEMS 

For information purposes only. Insured includes JPMorgan Chase & Co. and all of its subsidiaries. 

CERTIFICATE HOLDER 

JPMorgan Chase & Co. and its subsidiaries 



CANCELLATION 

SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE 

THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERD IN 

ACCORDANCE WITH THE POLICY PROVISIONS 

PARK ASSURANCE COMPANY 

BY: 

VALID AS OF: July 5, 2011




13.0 Information Requested From All Proposers 

13.1 Qualifications and Experience: 

13.2 Describe the organization, ownership, and other business affiliations (please provide number and 

location of affiliated offices). 

JPMorgan Chase & Co. (J.P. Morgan) is a leading global financial services firm with assets of more 

than US $2.3 trillion. The firm is a leader in investment banking, financial services for consumers and 

businesses, financial transaction processing, asset and wealth management, and private equity. A 

component of the Dow Jones industrial average, JPMorgan Chase & Co. has its corporate 

headquarters in New York and its U.S. retail financial services and commercial banking headquarters 

in Chicago. Under the J.P. Morgan and Chase brands, the firm serves millions of consumers in the 

United States and many of the world’s most prominent corporate, institutional and government clients. 

Information about the firm is available on the Internet at www.jpmorganchase.com. 

Our leadership position is illustrated by our number one ranking in the following areas: ACH items 

originated, same-day transfers, information reporting, CHIPS and Fedwire. We have one of the most 

expansive global footprints of any U.S. bank, with offices in 23 states and more than 60 countries, 

and the world’s most extensive correspondent banking network. 

As of March 31, 2012, JPMorgan Chase & Co. has: 

• More than 261,453 full-time employees worldwide 

• Market capitalization of US $175.7 billion 

• Deposits of US $1.1 trillion 

• Loans of more than $720,967 billion 

• Total stockholder equity of US $189.7 billion 

• Tier 1 capital and total capital ratios of 12.6% and 15.6%, respectively (estimated) 

JPMorgan Chase & Co. and the bank are managed on a line of business basis. The business 

segments presented in the following figure reflect the current organization of the firm. There are six 

major business segments: Commercial Banking, Retail Financial Services, the Investment Bank, 

Asset & Wealth Management, Card Services, and Treasury & Security Services. The segments are 

based upon the products and services provided or the type of customer served. 





JPMorgan Chase & Co. Lines of Business 

Figure 4 

The services required to meet the District’s requirements will be provided through our Treasury & 

Securities Services line of business. 

13.3 Provide a brief description of the history your organization, including your history in the State of Florida. 

History of Our Firm 

JPMorgan Chase's corporate headquarters are in New York City. Our retail financial services and 

commercial banking headquarters are in Chicago. Our major legacy institutions — J.P. Morgan, 

Chase Manhattan, Chemical, Manufacturers Hanover, Bank One, First Chicago, and National Bank of 

Detroit — contributed significantly to the development of communities worldwide. Our corporate 

history is intertwined with innovations in finance and the globalization of the world economy. 

Key transactions leading up to the formation of JPMorgan Chase include the following: 

• In 1991, Chemical Banking Corp. combined with Manufacturers Hanover Corp., keeping the 

name Chemical Banking Corp., then the second-largest banking institution in the United States. 

• In 1995, First Chicago Corp. merged with National Bank of Detroit's parent NBD Bancorp., 

forming First Chicago NBD, the largest banking company based in the Midwest. 

• In 1996, Chase Manhattan Corp. merged with Chemical Banking Corp., creating what was then 

the largest bank holding company in the United States. 





• In 1998, Banc One Corp. merged with First Chicago NBD, taking the name Bank One Corp. 

Merging subsequently with Louisiana's First Commerce Corp., Bank One became the largest 

financial services firm in the Midwest, the fourth-largest bank in the U. S. and the world's largest 

Visa credit card issuer. 

• In 2000, J.P. Morgan & Co. merged with Chase Manhattan Corp., in effect combining four of the 

largest and oldest money center banking institutions in New York City (J.P. Morgan, Chase, 

Chemical and Manufacturers Hanover) into one firm called J.P. Morgan Chase & Co. 

• These mergers culminated in July 2004 with the joining of J.P. Morgan Chase & Co. and Bank 

One Corp. to form today's JPMorgan Chase & Co. Fortune magazine said "the combined bank 

will be big and strong in a panoply of businesses," adding that "the deal has been widely lauded" 

by investment analysts. The New York Times said the merger "would realign the competitive 

landscape for banks" by uniting the investment and commercial banking skills of J.P. Morgan 

Chase with the consumer banking strengths of Bank One. 

• In 2008, JPMorgan Chase & Co. acquired The Bear Stearns Companies Inc., strengthening its 

capabilities across a broad range of businesses, including prime brokerage, cash clearing and 

energy trading globally. Also in 2008, JPMorgan Chase & Co. acquired the deposits, assets and 

certain liabilities of Washington Mutual’s (WaMu) banking operations. This acquisition expanded 

Chase's consumer branch network into California, Florida, and Washington State and created the 

nation's second-largest branch network — with locations reaching 42% of the U.S. population. 

The acquisition also extended Chase's retail branch network to additional states, including 

Georgia, Idaho, Nevada and Oregon. 

The story of JPMorgan Chase and its legacy institutions reaches back more than 200 years with the 

founding of its earliest predecessor in 1799. 

Historical Overview 

Figure 5 

JPMorgan Chase Bank and its predecessors have been a part of Florida since 1891. Our roots date 

back to the founding of the Pensacola Home and Savings Association. However, our retail banking 

expansion in the Florida market developed in 2009 as a result of the acquisition of Washington 

Mutual Bank. This acquisition allowed J.P. Morgan to introduce our full service of banking products to 

Florida customers. JPMorgan Chase has recently been approved as a Qualified Public Depository 

according to Florida Statute Chapter 280.17. 





13.4 Provide the address of the office location that will service the account and the address that will accept 

deposits via courier. 

The District’s Banker/Relationship Manager, Ralph Hildevert, and Treasury Sales Manager, Marcos 

Cordero, are located at 1450 Brickell Ave, Floor 33, in Miami, FL, 33131. The District’s dedicated 

Senior Client Service Professional, Carol Leonard, is located at 100 North Tampa Street, Floor 3, in 

Tampa, FL, 33602. The District’s deposits will be processed through our Miami cash vault. 

13.5 List the address of all branch offices in the county boundaries and surrounding area. (Please supply a 

map showing branch locations). 

We have included a list and map as Appendix 6 showing the branch locations in Palm Beach County 

and the surrounding area. 

13.6 Describe the experience of the financial institution in providing similar services for other municipal 

clients. 

Our Government, Not-For-Profit & Healthcare team (GNPH) is a specialized line of business of 

JPMorgan Chase’s Commercial Bank. GNPH has worked with government clients across the country 

for over 25 years. The public sector is a key industry segment in which J.P. Morgan continues to 

invest and enjoy ongoing growth. Our Public Sector Division supports more than 3,700 public sector 

clients at the Federal, State, and municipal levels with many of our treasury, general banking, 

investments, credit and card services solutions. Our National Public Sector practice represents the 

largest industry segment of our Commercial Banking line of business and receives significant ongoing 

capital investments so that these relationships are well supported. 

J.P. Morgan has been privileged to have a number of government and not-for-profit relationships in 

Florida. Valencia College, Orange County, and Miami Parking Authority are a few organizations with 

which we have existing Card programs established. 

Our leadership position in the services we are proposing for the District not only promotes cost 

effective delivery of services, but is also evidence of our ability to support the District’s banking 

needs. 

Each J.P. Morgan professional on the relationship team has many years of experience in providing 

both private and public clients with the benefit of our understanding of the industry and our ability to 

anticipate your specific needs. Additionally, we frequently share our experiences and can leverage 

the knowledge and experience of our banking colleagues across J.P. Morgan to deliver best practices 

to our l clients. To summarize, our relationship model provides for an outstanding client experience. 

Our goal is to exceed your expectations. 

13.7 Provide copies of your most recent annual report, 10-K and 8-K filing. 

The JPMorgan Chase & Co. Annual Report for 2011,10-K and 8-K filings can be accessed online via 

the following link: 

http://investor.shareholder.com/jpmorganchase/ 

This link provides past and current JPMorgan Chase & Co. Annual Reports that can be accessed at 

any time by the District. The 2011 Annual Report and most recent 10-K and 8-K filings are included 

as separate document uploads to DemandStar as requested by the District. 

13.8 Who is responsible for monitoring audit recommendations made to management? Describe the process. 

J.P. Morgan’s business resiliency plans address all parts of the business – including employees, 

facilities, systems, telecommunications and clients. Our business resiliency plans are living 





documents that are updated on an ongoing basis to incorporate lessons learned and tested regularly 

to validate the effectiveness and completeness of the plans. 

Business Resiliency plans are confidential and proprietary to J.P. Morgan not for public disclosure. 

For informational purposes, Appendix 7 provides an overview of the “TSS Business Resiliency” 

planning, testing and implementation approach in place for J.P. Morgan Treasury & Securities 

Services line of business. 

J.P. Morgan uses an integrated Business Resiliency strategy that addresses both the disaster 

recovery and business continuity planning required to resume operations from a disruption and 

provide for continuing operations over the course of a business interruption lasting up to 30 days. 

J.P. Morgan’s firm-wide Business Resiliency program complies with all applicable guidelines from 

The U.S. Office of the Comptroller of the Currency (OCC), the U.S. Federal Financial Institutions 

Examination Council (FFIEC) and the Interagency White Paper on Sound Practices to Strengthen the 

Resilience of the U. S. Financial System. Recovery strategies and plans are documented to account 

for the worst-case scenario, involving loss of life and widespread geographic interruption. 

13.9 Discuss the financial stability of your firm. 

In a turbulent economic environment, the health of your banking institution can directly affect the 

health of the District. We want to offer the District reassurance that J.P. Morgan’s approach to 

financial management has allowed us to achieve our objective of maintaining liquidity, preserving 

capital and maintaining positive income throughout both historical cycles and past market events. 

Most importantly, J.P. Morgan continues to be well capitalized under regulatory definitions. Our 

deposit base represents a stable source of funding for the bank. 

• Total deposits of approximately $1.1 trillion represent balances in both our retail and wholesale 

businesses 

• Total assets of approximately $2.3 trillion with exposures to a diverse group of wholesale and 

consumer markets 

• We have large reserve levels across all of our wholesale and consumer businesses 

• The management team running J.P. Morgan is solid and experienced. Together this team has 

successfully weathered a number of macro financial crises. We are confident that they have 

made, and will continue to make, measured and sound decisions. 

J.P. Morgan is routinely rated by industry experts Moody’s, Standard & Poor’s, and Fitch. As 

evaluated by these credible industry experts, J.P. Morgan has the financial stability to be the trusted 

banking services provider for the District. 

13.10 Provide long term and short term ratings from two of the three nationally recognized rating agencies 

(Standard & Poor’s, Moody’s, Fitch) and also provide Moody’s Bank Financial Strength Rating. 

Ratings as of March 31, 2012 are shown below. 

Credit Ratings – March 31, 2012 

Moody's Standard & Poor’s Fitch 


Commercial paper P-1 A-1 F1+ 

Senior unsecured Aa3 A AA- 

Subordinate A1 A- A+ 

JPMorgan Chase Bank, N.A. and Chase Bank USA, N.A. 

Short-term debt P-1 A-1 F1+ 





Credit Ratings – March 31, 2012 

Moody's Standard & Poor’s Fitch 

Long-term deposits/debt Aa1 A+ AA/AA- 

As of 2/24/09, Deposit ratings are reported separately. 

13.11 Provide five year history of your Tier-One Risk Based Capital and Total Risk Based Capital. 

2007 12/31/2007 9/302007 6/30/2007 3/31/2007 

Tier 1 Ratio 8.4% 8.4% 8.4% 8.5% 

Total Capital Ratio 12.6% 12.5% 12% 11.8% 

Source 

4Q07 Financial 

Supplement 


Supplement 


Supplement 


Supplement 

2008 12/31/2008 9/302008 6/30/2008 3/31/2008 

Tier 1 Ratio 10.8% 8.9% 9.2% 8.3% 

Total Capital Ratio 14.7% 13.6% 13.4% 12.5% 

Source 


Supplement 


Supplement 


Supplement 


Supplement 

2009 12/31/2009 9/302009 6/30/2009 3/31/2009 

Tier 1 Ratio 11.1% 10.2% 9.7% 11.4% 


Source 


Supplement 


Supplement 


Supplement 


Supplement 

2010 12/31/2010 9/302010 6/30/2010 3/30/2010 

Tier 1 Ratio 12.1% 11.9% 12.1% 12% 

Total Capital Ratio 15.5% 15.4% 15.8% 15% 

Source 


Supplement 3Q10 10-Q 3Q10 10-Q 3Q10 10-Q 

2011* 12/31/2011 9/302011 6/30/2011 3/31/2011 

Tier 1 Ratio 12.3% 12.1% 12.4% 12.3% 

Tier 1 Common 

Capital Ratio 

10.0% 

9.9% 10.1% 

10.0% 


Source 


Supplement 


Supplement 


Supplement 


Supplement 

13.12 Provide a history of the funding level required by the State of Florida under the Chapter 280 

Collateralized Deposit Program for the last two years. 

With J.P. Morgan’s entry as a QPD within Florida, we have exceeded the required collateral funding 

of 50% of market values. We typically maintain an excess of 105-110% of requirements at all times. 





13.13 Please describe the extent of your firm’s social responsibility, including local, state and community 

involvement, charitable activities as well as educational opportunities, speaker’s bureaus and other 

value added services that are make a difference in the local community. 

Responding to community needs is at the core of our corporate responsibility strategy. We are 

committed to building vibrant communities, preserving the environment, and promoting sound public 

policies and regulations that benefit the firm’s customers, 

employees, shareholders, neighbors and future generations. 

Community development, of course, is an important component 

of this strategy. It is an integral part of the way we conduct 

business and is executed with a strong sense of commitment 

and shared responsibility across the firm’s many lines of 

business. The firm’s businesses are committed to enhancing the 

quality of the local communities we serve by providing loans, 

investments, grants, and community development services as 

well as leadership, guidance, and expertise. More information on 

J.P. Morgan’s commitment to the Florida community can be 

found in Appendix 8. 

On its most recent federal 

Community Reinvestment Act 

(CRA) performance 

examination, JPMorgan 

Chase Bank earned the 

highest possible CRA rating 

of "Outstanding.” This was 

the eighth consecutive time 

JPMorgan Chase received 

the highest CRA rating. 

Our mission is to strengthen communities in which J.P. Morgan 

does business by expanding access to capital, leadership by example and leveraging the many 

resources of J.P. Morgan. 

Central to this mission is serving low- and moderate-income communities, small businesses 

(particularly minority- and women-owned) and low-to-moderate-income individuals and families. 

We also provide philanthropic support to nonprofit organizations located in the communities we serve. 

For example: 

• Philanthropy – We contributed more than $7.1 million to Florida charities in 2011. 

• Community Revitalization Program – In Florida, J.P. Morgan has donated or discounted over 

240 homes since 2009, helping families become homeowners and getting neighborhoods back 

on track. 

• Helped Transform Miami Northwestern Senior High School – J.P. Morgan donated $1 million 

and partnered with Florida International University to help transform Miami Northwestern Senior 

High School. 

Business Highlights in Florida 

• Lending to consumers and small businesses – J.P. Morgan continues to be there for our 

customers in Florida. We extended 894,664 total new loans and lines of credit to Florida 

consumers and small businesses in 2010. 

• Financing to governments and nonprofits – J.P. Morgan raised more than $4.8 billion in 

financing for local governments and non-profit organizations in Florida in 2010. 

Our Investment in Florida 

• CRA small business loans – We originated more than 21,800 small business loans totaling 

$250 million, of which 15% were made to businesses located in low- or moderate-income 

communities, in 2010. 

• CRA mortgage lending – We made more than 29,300 mortgage loans totaling $5.3 billion, of 

which 36% were made to low- or moderate-income borrowers or for homes located in low- or 

moderate-income communities, in 2010. 





• CRA loans and investments – We provided more than $143 million in community development 

loans and investments in 2010. 

• Branch Presence –J.P. Morgan plans to add at least 375 branches in Florida by 2015. 

Our Economic Impact to Florida 

• Taxes paid – We paid more than $25 million in state and local taxes in 2010. 

• Employee wages and benefits - We paid more than $1 billion in wages and benefits to Florida 

employees in 2010. 

• Goods and services purchased – We purchased more than $294 million in goods and services 

from Florida companies in 2010. 

13.14 All banks selected to provide services to the District must agree to notify the District, in writing, if any of 

this information changes during the term of the contract. 

The bank shall endeavor to notify the District in writing of any changes in Federal or State regulations 

or laws that would affect the contract. 

13.15 Please explain briefly why Palm Beach School District should select your organization to provide the 

required services. 

Our Treasury Services business is a top-ranked, full-service provider of innovative payment, 

collection, liquidity and investment management, trade finance, commercial card and information 

solutions to governments and municipalities, financial services institutions, middle market companies 

and small businesses worldwide. With more than 135,000 clients and operations in 60 countries, J.P. 

Morgan Treasury Services is one of the world's largest providers of treasury management services. 

J.P. Morgan differentiates itself through excellent implementation and project management, as well as 

client service. These are critical components to ensuring the successful rollout and adoption of 

centralized cash management systems, since the District will need to have confidence in the 

capabilities of your selected bank to understand and respond in a timely fashion to your requirements. 

Our leadership position in the services we are proposing for the District not only promotes cost 

effective delivery of services, but is also evidence of our ability to support the District’s needs. We are 

committed to sustaining our leadership position by continuing to develop innovative products and 

make investments in technology. 

13.16 Personnel: 

13.17 Provide biographical information on all bank officers that will be directly involved in the management of 

the District’s accounts. Indicate the primary contacts and who will be designated to handle matters when 

the primary contact is unavailable. Describe the experience these officers have working with municipal 

clients. 

Our partnership with the District will be rooted with a dedicated relationship team responsible for 

addressing your inquiries and requests for services, while attending to daily activities regarding the 

management of your accounts. Ralph Hildevert, the District’s assigned Relationship Manager, will be 

the account representative and primary contact for the School District of Palm Beach County. The 

assigned Treasury Sales Manager is Marcos Cordero. He assists in designing the most efficient 

account structure and will notify you of enhancements to our products and services. Additionally, we 

offer a single point of contact for all client inquiries across product lines. The District will be assigned 

a designated Client Service Professional (CSP), Carol Leonard, who will be your primary contact for 

your day-to-day inquiries and will engage the appropriate J.P. Morgan department on your behalf. 

Biographical information for the individuals on the District’s relationship team can be found below: 





Ralph Hildevert, Relationship Manager & Banker 




Fax Number 305.351.8451 


ralph.hildevert@jpmorgan.com 

Experience 

Ralph Hildevert joined JPMorgan Chase Bank in 1997 and is a vice president in our Government, Not-for- 

Profit, Higher Education, and Healthcare (GNPH) group in Miami. As a GNPH banker, he is responsible for 

proactively assisting government entities, public and private schools, colleges and universities based in 

South Florida with their financial needs, particularly credit, cash management, and treasury services 

solutions. 

Prior to becoming a GNPH banker, Ralph was a Relationship Manager, credit analyst and senior client 

service professional for Chase’s Commercial Bank International Agencies Team, assisting some of the 

largest international, non-governmental, multilateral, humanitarian, and microfinance organizations. Ralph 

has been with the organization and its predecessor banks working in various roles for over 15 years. 

Education 

Ralph holds an Executive MBA degree in International Business from the University of Miami and a B.S. in 

Administrative Studies and Legal Studies from St. John’s University in New York, where he graduated Magna 

Cum Laude. He also completed the Chase Commercial Banking Credit Analyst program. Ralph is proficient 

in Spanish and has conversational knowledge of Portuguese. 



Office Address 450 S Orange Avenue, Floor 10, Orlando, FL, 32801 


Fax Number 407-218-5355 


leif.g.chase@jpmorgan.com 

Experience 

Leif joined J.P. Morgan in March 2010, before which he worked for over 14 years in public finance, including 

local government, a financial advisory firm, regional underwriters, and a regional bank focused exclusively on 

governmental banking. During this time, he focused primarily on publicly underwritten and privately placed 

entities such as utilities, municipalities, school boards, universities, and not-for-profit organizations. 

Leif spent the past four years working for regional investment banks. He has extensive involvement with 

credit evaluation and structure for Certificate of Participation issues, serving as financial advisor to Orange 

County Schools, Duval County Schools, Citrus, Charlotte, and Marion County Schools. 

Education 

Leif received his Undergraduate degree from the University of Central Florida and a Master's degree in 

Public Administration from the University of Central Florida. Leif is currently Series 7 & 63 licensed. 





Marcos Cordero , Treasury Sales Manager 




Fax Number 866.308.9942 


marcos.x.cordero@chase.com 

Experience 

Marcos Cordero is a Treasury Sales Manager in J.P. Morgan’s Treasury Services division, focused on 

serving the needs of clients in the public sector. He has over 15 years of banking experience and a thorough 

understanding of cash management products, sales and service. 

In this role, his responsibilities include business development and relationship management for Public Sector 

clients located in South Florida. 

Education 

Marcos graduated from Nova Southeastern University, receiving a Bachelor of Business Administration with a 

specialty in Business Professional Management. 

Joseph Scharf, Executive Director 

Senior Treasury Management Officer (TMO) 



Fax Number 813-369-5806 


joseph.h.scharf@chase.com 

Experience 

Joseph is the Treasury Management Officer covering the Middle Market / Public Sector in West Florida. In this 

role, he is responsible for providing consultations for our new and existing clients on their Treasury Service 

needs. Joseph has more than 25 years of experience in the financial services industry and has held diverse 

roles managing Operations, Business Development and Product Management domestically and 

Internationally. 

Education 

Joseph received his Bachelor of Science degree in Business Administration from the State University of New 

York, College at Buffalo. 

Additional Treasury Sales support will be provided by Richard Duran, Senior Account Analyst. 

Richard Duran, Senior Account Analyst 

Office Address 

350 East Las Olas Boulevard, Floor 12-STE1250 

Fort Lauderdale, FL, 33301 


Fax Number 866-386-8232 


richard.a.duran@jpmchase.com 





Richard Duran, Senior Account Analyst 

Work History 

Richard serves as the local client sales associate for Complex Treasury Services, providing support, 

solutions and strategic options to the South Florida Market Treasury Sales Managers. Richard joined J.P. 

Morgan November 2005. As an Investigator for operations, he quickly transitioned to a Sr. Investigator, a 

trainer and prior to joining Treasury Sales held a position as a Single Point of Contact Client Service 

Professional for J.P. Morgan’s Toronto and London markets. 

Education 

Richard has a Bachelor’s in Business Administration with Lynn University with a specialization in International 

Business. 





Fax Number 866.914.9910 


carol.a.leonard@jpmorgan.com 

Experience 

Carol Leonard is a Sr. Client Service Professional with the local client service team. She has 22 years of 

Banking experience which includes deposit operations, 16 years of which have been dedicated to providing 

outstanding customer service to our middle market and government clients. 

She has received several accolades based on her performance. These include 3 National awards, team 

recognition and client applause. Most recently she has been recognized for her coaching, mentoring and 

acting as a subject matter expert nationwide. 

Education 

Carol received her High School Diploma from Ouachita Parish High School, Monroe, LA, and Attended 

Tarrant County Junior College – Business Management for two years. 

Additional Education – Supervisory Training and Banking courses with the American Institute of Banking 

Mayra Perez, Client Service Professional (Backup) 




Fax Number 866.914.9910 


mayra.s.perez@jpmorgan.com 

Experience 

Mayra Perez is a Client Service Professional with the local client service team. She has four years of 

Banking experience which includes technical support and client service to our middle market and 

government clients. 

Education 

Mayra received her High School Diploma from Loyola High School, and attended IVYTECH State College 

and the Tucker School of Business. 

Additional Education – Business Program Certification, IndyPendence Job Corps Center 





Kelly A. Barnes, Vice President 

Local Client Service Manager, Commercial Bank Client Services 



Fax Number 866-917-0148 


Experience 

kelly.a.barnes@chase.com 

Kelly Barnes is the Local Client Service Manager responsible for Florida and Georgia. She brings more than 20 

years of banking experience with a management background that includes Deposit Operations, Credit Card 

Operations and Customer Service. 

Kelly began her career with Fleet Bank in New York in 1990 as an Operations Manager. In 1995, she relocated 

to New Orleans, Louisiana and accepted a position with First Commerce Corporation as Customer Service 

Manager. With the acquisition of First Commerce Corporation and Bank One, Kelly assumed the Local Client 

Service Manager Role in Commercial Banking. Just recently, Kelly joined the West and Expansion States 

segment as Local Client Service Manager for Florida and Georgia and is located in Tampa, Fl. 

She has been recognized for her outstanding leadership and teamwork. Kelly is a leader in customer service 

and has received J.P. Morgan national recognition awards for her service excellent and dedication to providing 

exceptional customer service to our clients. 

Education 

She attended SUNY College of Technology in Utica, New York and has earned a Masters in Business 

Administration and Technology Management. 

13.18 Describe the approach to account administration that is used (i.e., account teams, account administrator 

with support group)? 

The Delivering Service Excellence Difference 

Delivering Service Excellence SM demonstrates J.P. Morgan’s commitment to providing outstanding 

service to our clients through the personalized attention of a dedicated client service professional. 

• Personal: With Delivering Service Excellence, you are provided a dedicated Client Service 

Professional (CSP), Carol Leonard, whose role is to support day-to-day banking and treasury 

needs that arise. The CSP is a vital member of our Commercial Banking team along with your 

banker and/or treasury management officer. 

• Experienced: CSPs are highly seasoned and knowledgeable service professionals who have an 

average of 20 years of industry experience. Many have built their careers in the banking industry 

and around the service function, which translates to a first-rate experience. 

• Responsive: According to our 2010 Client Relationship Survey, the top two attributes that our 

clients look for in a service professional are the same attributes that our CSPs were rated highest 

– promptness in following up on requests, and ability to accurately and dependably resolve 

issues. 

• Proactive: Delivering Service Excellence also means using striving to understand our clients’ 

unique banking requirements and to share ideas that help clients save time and money. In 

addition, CSPs use their expertise and training to anticipate issues before they arise, often 

reaching out to clients proactively about their accounts. 





Integrated Service Center 

Your relationship team includes your dedicated CSP, Carol Leonard, and backup CSP, Mayra Perez. 

Carol and Mayra are supported by a fully integrated service center staffed with a team that shares the 

same level of commitment to providing outstanding service. 

Beyond offering extended hours of operations, our service center provides accelerated resolution of 

issues if your CSP is unavailable. It also offers an escalation point if your systems are down or if your 

staff is out of the office, so that you can continue to do business. 

13.19 Provide an organizational chart for the personnel who will be associated with the District’s accounts, 

including the roles of each person, and illustrating the relationship among the personnel. 

The School District of Palm Beach County’s designated J.P. Morgan Relationship Team 

(Primary contacts are denoted in light blue) 

Commercial Banking 

GNPH Government, Notfor-Profit 

& Healthcare 

Treasury Services 

Client Services 

Leif Chase 

GNPH 

Division Manager 

Joseph Scharf 

Executive Director 

Treasury Management Officer 

Kelly Barnes 

Client Service 

Manager 

Ralph Hildevert 

GNPH Banker 

Relationship Manager 

Marcos Cordero 

Treasury Sales Manager 

Carol Leonard 

Senior Client Service 

Professional 

Richard Duran 

Treasury Sales Account Analyst 

Figure 6 

13.20 Customer Service and Quality: 

13.21 Please describe your firm's commitment to service quality and customer service. 

J.P. Morgan has an extensive operational quality improvement program for its Treasury Services. 

Commonly referred to as HPC (High Performance Culture), this program leverages key elements of 

traditional Six Sigma and TQM (Total Quality Management) to drive service quality management 

processes to the front line. 

In addition to these quality control practices, Treasury Services Program Management Office provides 

oversight for significant change events within the business. This department oversees that the 

necessary resources are in place, change management practices are adhered to and testing remains 

central to our quality control practices. It is also common, as new products are developed, that we 

engage with clients to beta test solutions prior to release. 





High Performance Culture 

A critical component of our quality system is the continuous review of performance results and 

prioritization of improvement opportunities. We review key indicators on a daily, weekly and monthly 

basis. Following, are examples of some of our performance reporting, management and review 

processes. 

• Daily Production Assurance Review 

Under the oversight of the Commercial Production Assurance Center, every morning key product 

delivery managers and front line supervisors report on specific operational “wellness” indicators to 

assure that no systemic barriers exist that will prevent the delivery of high quality cash 

management services for that business day. 

• Weekly Operations Review 

On a weekly basis senior leadership within our Treasury Services Operations Groups review the 

week’s key business indicators. This weekly review includes input from Treasury Client Services 

on client inquiry trends for the week, or emerging issues identified by client services leadership 

based on direct interaction with our clients. Critical issues are assigned resolution owners and 

corrective actions taken as appropriate. 

• Client Experience Impact Review 

The Client Experience and Impact Review meetings are cross-functional forums that serve as 

platforms to jointly review key performance indicators, client specific satisfaction results, 

upcoming changes and events and escalated issues or opportunities. 

On a bi-weekly basis, senior executive and mid-level managers representing Treasury Services 

operations, technology, product management, client services and implementation meet with one 

key objective, identification of opportunities that contribute to an improved experience for our 

clients. 

Overall, our processes and dedicated, expert resources provide a focus on excellence in approach 

along with an ongoing commitment to deliver the highest quality products, services and solutions in 

the marketplace today. 

13.22 Indicate the bank’s customer service organizational structure (choose one): 

• Separate customer service department for depository services 

• Centralized customer service department for all cash management services 

• Customer service function contained within depository services operating unit(s) 

• Other – please describe 

Other: Single point of contact for the District 

All Commercial Banking clients are assigned a dedicated, local Client Service Professional who 

provides cross-product support which includes the services detailed in this response. With this oneto-one 

relationship, your Client Service Professional will develop a deep understanding of your 

business, the products you use and your overall business needs. Your Client Service Professional 

and their dedicated backup are your day-to-day contact for all servicing needs or concerns. 

Commercial Banking Client Service Professionals are experienced professionals with a deep 

knowledge of Commercial Banking and Treasury Services products. 

13.23 Will a specific customer service representative be assigned to handle the District? 

Yes. 





a. Describe the responsibilities of the customer service personnel, including the chain of command for 

problem resolution. 

J.P. Morgan’s Client Service Professionals have the authority to engage all levels of Commercial 

Banking management and escalate issues within the client service organization across J.P. 

Morgan business units. For each service provided to you, client service has a detailed matrix of 

contacts and escalation procedures to expedite resolution. These procedures also include 

internal service standards to help ensure that other J.P. Morgan groups are providing timely 

responses. In addition, client service works closely with your full relationship team so that 

everyone supporting you is informed of your relationship activity. 

b. Is local customer service support available to assist with deposits? 

All Commercial Banking clients are assigned a dedicated, local Client Service Professional who 

provides cross-product support which includes the services detailed in this response. With this 

one-to-one relationship, your Client Service Professional will develop a deep understanding of 

your business, the products you use and your overall business needs. Your Client Service 

Professional and their dedicated backup are your day-to-day contact for all servicing needs or 

concerns. Commercial Banking Client Service Professionals are experienced professionals with a 

deep knowledge of Commercial Banking and Treasury Services products. 

13.24 What are the hours of operation of the customer service unit? (Specify time) 

Your Client Service Professional is available during standard business hours within each time zone. 

In addition, our Commercial Banking Client Service Center offers extended hours of operation 

Monday through Friday from 8:00 a.m. ET to 8:00 p.m. ET. 

Our Technical Solutions Group (TSG) is available to assist you with your J.P. Morgan ACCESS 

inquiries around the globe Sunday 4:00 p.m. ET through Friday 8:00 p.m. ET. 

13.25 How does the bank handle inquiries requiring research and adjustments? 

Your research request is handled by your dedicated Client Service Professional, who will work with 

the appropriate operational areas to help ensure your request is handled timely and accurately. In 

addition, your Client Service Professional has the authority to escalate whenever necessary so that 

issue resolution occurs to your satisfaction. 

13.26 How does the bank handle audit confirmation requests? 

Audit Confirmations 

This is a request for information pertaining to your account and/or banking relations. Typically your 

external auditor generates the request. There are two types of audit requests: 

• Balance Request — A request for balances as of a specific date. 

• Detail Request — A request for full details of your account and may include balances, direct and 

contingent liabilities, and securities agreements. 

The District’s dedicated Client Service Professional will coordinate the response to any audit 

confirmations. 

13.27 Are there established turn-around times for research and adjustment items? If yes, specify. 

Yes, our client service organization has established target response times for inquiry and problem 

resolution. Please refer to the table below for a summary of our current response measures. 





Product/Service Type 

Client Service Professional 

Commercial Banking Client 

Service Center 

J.P. Morgan ACCESS 

Technical Solutions Center 

Service Level Name & Description 

Inquiry Response Time - Affirmation of client request targeted within two hours 

of receipt. 

Inquiry Resolution Time – Resolution time established by the Client Service 

Professional upon receipt of the issue if first contact resolution cannot be met. 

The resolution time will vary based on the issue, but regular updates will be 

provided by the Client Service Professional. 

Average Speed of Answer – The average speed in which a call is answered. 

Target for the client service center is 30 seconds or less. 

Average Abandon Call Rate – The percentage of calls that are abandoned 

prior to call pickup. Target is no more than 4.0% of all calls. 

Calls Answered in Less than 30 Seconds - The percent of incoming calls 

answered within 30 seconds. Target is no less than 80% of calls are answered 

within 30 seconds. 

Average Speed of Answer – The average speed in which a call is answered. 

Target is 30 seconds or less. 

Average Abandon Call Rate – The percentage of calls that are abandoned 

prior to call pickup. Abandoned rate target performance is no more than 5.0% of 

all calls. 

Calls Answered in Less than 30 Seconds – The percent of incoming calls 

answered within 30 seconds. Target is no less than 80% of calls are answered 

within 30 seconds. 

13.28 Does the bank provide technical customer support for computer hardware, software, and 

communications problems? 

Yes, our main technical support line is our Technical Solutions Group, and agents are available to 

assist you with your inquiries around the globe Sunday 4:00 p.m. ET through Friday 8:00 p.m. ET... 

Technical support availability for other products can be provided upon request. 

13.29 Compensating Balances: 

13.30 It is anticipated that all deposited funds will be used to offset fees. Describe the method used to 

calculate the earnings credit rate (ECR). Is the reserve requirement deducted from the available balance 

before the ECR is calculated? Please include the bank formula for converting service charges to balance 

requirements and a listing of the bank earnings credits and reserve requirements for the period from 

July 1, 2010 to March 31, 2012. 

Earnings Credit Rate (ECR) is used to calculate the value of balances that can be used to offset 

service fees for the analysis period. 

J.P. Morgan uses the following formula to calculate the earnings credit allowance: 

• Earnings Credit = (Average Balance * ECR * Actual Days in Month) / Actual Days in Year 

The Federal Reserve stated it will pay interest on reserves held by its member banks. Therefore, 

since January 1, 2009, J.P. Morgan has passed this benefit to our customers by giving Earnings 

Credit on 100 percent, up from the previous 90 percent, of the balance on eligible demand deposit 

accounts. As a result of the increased earnings credit, clients receive greater value for balances held 

to offset service fees. 

For the period from July 1, 2010 to March 31, 2012, the premium managed ECR has hovered at 

approximately 40 basis points for clients with similar characteristics, and as stated above, J.P. 

Morgan did not have a reserve requirement during this period. 





Earning Credit (ECE) Rates 

Date Standard Rate Premium Rate Date Standard Rate Premium Rate 

Apr-12 0.30% 0.40% May-11 0.30% 0.40% 

Mar-12 0.30% 0.40% April-11 0.30% 0.40% 

Feb-12 0.30% 0.40% Mar-11 0.30% 0.40% 

Jan-12 0.30% 0.40% Feb-11 0.30% 0.40% 

Dec-11 0.30% 0.40% Jan-11 0.30% 0.40% 

Nov-11 0.30% 0.40% Dec-10 0.30% 0.40% 

Oct-11 0.30% 0.40% Nov-10 0.30% 0.40% 

Sept-11 0.30% 0.40% Oct-10 0.30% 0.40% 

Aug-11 0.30% 0.40% Sept-10 0.30% 0.40% 

Jul-11 0.30% 0.40% Aug-10 0.30% 0.40% 

Jun-11 0.30% 0.40% Jul-10 0.30% 0.40% 

13.31 How and when would the District be notified of a price change after the initial 3-year term? 

The pricing reflected with this offer will be valid for the initial three-year term. Prior to the end of the 

contract term, by mutual agreement, the District will have the opportunity to discuss an optional 

extension of the contract and potential pricing changes with your Relationship Manager. The District 

will be notified in writing 30 days prior to any change. 

Additionally, there are many additional services we offer that could be utilized but not described here. 

These services and transactions are available to the District at any time during the contract term at a 

mutually agreed price prior to the implementation of new services and/or new fees. 

13.32 Implementation and Conversion: 

13.33 Provide a detailed description of the implementation process, including testing and a sample 

implementation schedule. Describe a conversion plan to transfer assets of the District to the bank. 

From the moment the District awards us your business, J.P. Morgan’s commitment is to integrate our 

products and services into the District’s organization smoothly and efficiently. 

We are committed to: 

• Clearly understanding the District’s product and service requests 

• Serving as your primary point of contact throughout the implementation process 

• Developing clear implementation plans and goals for product start-up 

• Coordinating the setup and installation of J.P. Morgan products 

• Earning your satisfaction throughout the implementation process 

Partnership Approach 

We have a dedicated GNPH Implementation Team lead by Amanda J John. She will assign an 

Implementation Project Manager to coordinate all aspects of this project to integrate our products and 

services into the District’s organization smoothly and efficiently. 

An Implementation Project Manager will be assigned to serve as the Districts primary point of contact 

throughout implementation. The assigned Implementation Project Manager has end-to-end ownership 

and accountability of the process, is responsible for communicating regularly with the District and 





coordinates activities across the bank. Regular meetings are held to share information and measure 

progress. 

The Implementation Process 

An established project flow and framework is followed when executing the setup of products and 

services. 

Implementation Project Workflow 

Figure 

Your Implementation Project Manager works with you to validate the solutions you have requested, 

establishes timelines for implementation and then coordinates with the necessary teams across your 

organization and ours to complete the setup. Overall responsibilities include: 

• Forwarding new account documentation, file specifications, start-up packet(s) and procedure 

manuals to the client 

• Contacting the client’s designated representative(s) to complete all required documentation and 

determine specific product instructions 

• Reviewing and completing product questionnaires with the client as appropriate 

• Opening required accounts 

• Ordering necessary depository supplies 

• Coordinating with Operations to make sure all products are set up to the client’s specifications 

• Coordinating any necessary file and transmission testing with the systems implementation 

resource, which includes: 

• Transmission options review and setup 

• File testing 

• File security 

• Ensuring that all test results are reported to appropriate individuals 

• Ensuring that all reports and elements of file testing and processing are examined 

• Updating all parties on progress 

• Providing any required training or other assistance as needed 

• Monitoring initial depository activity and confirming all depository products are working as 

expected 

• Coordinating the hand-off to the client service officer (CSO) for ongoing servicing 

Depository products can be implemented in as little as two weeks with some setups taking up to four 

weeks. The timeline heavily depends on client commitment and is contingent on the client’s ability to 

successfully send/receive any required file(s), whether the client uses ACH to clear items and the 

connectivity solution. Complex and/or large implementations may take longer than four weeks. 





Measuring Satisfaction 

Upon completion of the setup request, we will ask you to complete a survey to help us measure your 

satisfaction with the delivery of the new services. Your feedback helps us evaluate our performance 

and continuously improve our implementation processes. 

Please refer to Appendix 5 for a “Sample Implementation Project Plan.” 

13.34 Does the bank assign an implementation team? What dedicated resources (personnel, equipment, 

training of personnel, consultants, etc.), procedures, and controls will you provide or recommend in the 

conversion period to ensure that the conversion is completed successfully in both a timely and accurate 

manner. 

The J.P. Morgan implementation team is experienced in dealing in all aspects of cash management 

and is committed to working with the District so that your solution is designed, implemented, and 

managed daily to meet your requirements. We will work with you to develop a detailed plan for the 

efficient and timely implementation of all services. 

Once awarded your business we will work with you to determine an appropriate implementation 

timeframe. Our commitment is to integrate our products and services into your organization in a 

smooth and efficient manner. Together, we will determine whether the product/services are 

implemented at once or in a phased approach. We will agree on milestone dates and related 

deliverables. These will be tracked by your designated Project Manager for a seamless migration to 

your new products and related systems. 

J.P. Morgan realizes the full extent of the challenges that implementations can bring and will make 

every effort to help ensure that the integration of our products and services into the District’s business 

will be a smooth process. 

13.35 What is the average lead-time required for implementation, including but not limited to the following 

services? What are the critical factors that may impact that lead-time? 

The implementation lead time is defined in the sample project plan in Appendix 5. The start of 

Documentation and Service Setup phase heavily depends on the client and their availability to 

confirm the setup details as well as provide signed documentation. 

a. Supplies (Encoded Deposit Slips, Endorsement Stamps, etc) 

The following can be delivered within five to 10 business days by our vendors. Standard orders 

are typically processed within three business days and shipped via U.S. Mail. Expedited order 

processing and mailing options are available. 

• Deposit tickets 

• Endorsement stamps 

• Tamper-resistant plastic depository bags 

Deposit ticket MICR specification sheets are available electronically. Your implementation 

consultant will provide these upon request. 

J.P. Morgan allows for third-party deposit tickets as long as they meet our deposit ticket 

specifications. In addition, J.P. Morgan will need to test the deposit tickets to determine if our 

operations and technologies can easily read the data on these items. This testing can be 

performed within 48 hours of the time we receive your tickets. 

b. Account Opening 

Opening an account can take up to three days upon the receipt of completed core 

documentation. Due to the U.S. Patriot Act and “Know Your Customer” regulations, we must 





receive all required original documentation properly and fully completed before we can open an 

account. 

c. Information Reporting Setup 

The time required for a J.P. Morgan ACCESS implementation depends on the client’s 

environment and staff availability, and it can range from 6 to 15 days. The critical factors include 

receipt of signed documentation from the client and participation from the client’s designated 

security administrators to activate their IDs and establish new users with their entitlements. 

J.P. Morgan ACCESS implementation involves several steps and the involvement of the client’s 

designated security administrators. Initial installation and security setup can be accomplished 

quickly with the start-up components available on the J.P. Morgan ACCESS download page. 

Following initial installation, J.P. Morgan ACCESS security administrators at the client site first 

establish their own basic authentication IDs and digital signature authority and then establish and 

approve additional users for accounts, services and functions. 

d. Transmission Tests (Reconciliation and ACH) 

The average lead time for an ACH implementation is four to six weeks. The critical factors include 

successful connectivity and file testing with the client. 

The lead time for ARP without transmission is 10 business days. The lead time for ARP with full 

reconciliation is typically 21 business days. The critical factors that impact the full reconciliation 

timeframe are statement cycle (ARP service must start at the beginning of the account's 

statement cycle), client providing a list of outstanding checks, completion of successful file format 

testing and successful receipt of two live issue files. 

e. Document Tests (Imaging, MICR) 

J.P. Morgan accepts third-party checks and deposit tickets that meet specifications. In addition, 

the Bank requires testing of the District’s documents to verify that operations and technologies 

can easily read the data. J.P. Morgan will generally perform this testing within 48 hours of ticket 

receipt. 

f. Transfer of Assets 

The J.P. Morgan Treasury Implementation Team is experienced in dealing in all aspects of cash 

management and is committed to working with the District to help ensure that your solution is 

designed, implemented, and managed daily to meet your requirements. We will work with you to 

develop a detailed plan for the efficient and timely implementation of all services. 

Once awarded your business we will work with you to determine an appropriate implementation 

timeframe. Our commitment is to integrate our products and services into your organization in a 

smooth and efficient manner. During the scoping of the project, we will confirm the products and 

services to be implemented. Together, we will determine whether the services are implemented 

at once or in a phased approach. We will agree on milestone dates and related deliverables. 

These will be tracked by your designated Implementation Project Manager for a seamless 

migration to your new products and related systems. 

J.P. Morgan realizes the full extent of the challenges that implementations can bring and will work 

closely with the District so that the integration of our products and services will be a smooth 

process. 





13.36 Describe materials available and/or any on-site training provided by the bank in the areas listed below. 

J.P. Morgan will supply all necessary product guides, procedure manuals and user guides required 

for the product suite being implemented. Additionally, we will provide any training that is required or 

requested. Our objective is for you to fully understand our products, so you can take complete 

advantage of our product offerings. 

a. Cash Deposit Preparation 

During the initial implementation meeting, clients will be provided with a number of materials, 

including deposit preparation procedures. Our “Cash Vault Services Deposit Preparation Guide” 

is included as Appendix 9. 

b. Change Order Procedures/Systems 

During the implementation process, clients will be provided with a number of materials, including 

the procedures and worksheets for our automated VRU or Web-based coin and currency ordering 

system, depending on customer preference. 

c. Information Reporting/Detail Transmission Systems 

User guides and comprehensive reference guides for our electronic information 

reporting/transmission products will be provided during the implementation process. 

Support during implementation includes training, technical assistance, user manuals and on-site 

visits. For example, the following training and support tools are available to clients in J.P. Morgan 

ACCESS Cash Reporting: 

• Quick Start Reference Guides - Available on the J.P. Morgan ACCESS dashboard and 

provide step-by-step instruction on how to use the J.P. Morgan ACCESS products and 

modules 

• Webinar Training – Weekly instructor-led sessions are available on the various J.P. Morgan 

ACCESS products and modules 

• Phone Training - Customized one-on-one training conducted over the phone to meet your 

unique needs for all J.P. Morgan ACCESS products and modules 

In addition, ongoing support is provided by the Client Service and Technical Support Team. 

Training, usage and technical assistance are available from the Client Service and Technical 

Support Team via telephone. 

The support provided by the bank does not end once we have implemented your account 

process. We believe continued support is critical to our overall account relationship. For example, 

after account implementation, your client service officer will become your ongoing contact to help 

ensure that your expectations are consistently met. 

d. Technical Support 

Technical support and training is provided for all connectivity and electronic product solutions 

subsequent to the implementation process. 

Our Technical Solutions Group (TSG) supports our ongoing information reporting and electronic 

transaction initiation services. Depending on the technical complexity of a problem, question or 

request, your client service officer may refer you to this group for help in resolving hardware, 

software or communication problems related to these services. The Technical Solutions Group is 

available to assist you with your inquiries around the globe Sunday 4:00 p.m. ET through Friday 

8:00 p.m. ET. 





e. Materials such as deposit slips, checks, etc. 

The following can be delivered within five to 10 business days by our vendors. Standard orders 

are typically processed within three business days and shipped via U.S. Mail. Expedited order 

processing and mailing options are available. 

• Deposit tickets 

• Endorsement stamps 

• Tamper-resistant plastic depository bags 

Deposit ticket MICR specification sheets are available electronically. Your implementation 

consultant will provide these upon request. 

13.37 GENERAL BANKING SERVICES AND SCHOOL ACTIVITY ACCOUNTS 

13.38 Deposit Processing: 

13.39 Provide the address of the office location that will accept deposits via courier. 

J.P. Morgan’s Miami, FL vault will accept the District’s armored courier deposits. Due to the sensitive 

nature of this information, the physical address will be provided during implementation. 

13.40 What is the cut-off time to ensure same day ledger credit? Is it the same for cash as for checks, drafts, 

etc? Are there any options that might affect this cut-off time (e.g., provisional credit, and delayed 

verification)? 

Branch and ATM Deposits 

• ATM deposits - Cutoff times for deposits received at ATMs differ by location. Deposit cutoff times 

are posted on each ATM. 

• Branch deposits - Cutoff times for deposits received at branches differ by location. Local branch 

management will inform your local representative of all cutoff times during the initial set up of your 

depository business. 

• Branch night drop deposits - 7:30 a.m. local time (select branches offer a second opening in the 

early afternoon. Local branch management will inform your local representative of all cutoff times 

during the initial set up of your depository business.) 

• Approximately 1,253 ATMs are available for commercial deposits in our Florida footprint. 

Check Only Deposits 

• Image Deposit Direct (IDD) 

• Standard - 10:00 p.m. ET with availability based on endpoint 

• With ACH - 7:00 p.m. ET for next business day credit. All transactions cleared as ACH debits 

are fully available the next business day, and nonconvertible items are available based on 

endpoint. 

Vault Deposits 

Below are the standard local cutoff times for our Miami vault: 





City 

Cash-Only Deposit Deadline 

for Same Day Credit 

Mixed (Cash and Check) Deposit 

Deadline for Same Day Credit 

Check-Only 

Deposit Deadline 

Miami 8:00 p.m. 3:00 p.m. 3:00 p.m. 

a. For the various deposit options proposed, address any differences in ledger cut-off times. 

Please refer to the previous question. 

13.41 Are weekend or holiday deposit services available? Is there an additional fee or discount for utilizing 

these services? 

Branch Deposits 

Branch deposit services are not offered on bank holidays. However, our night drops located outside 

of branch facilities can accept deposits on holidays and provide ledger credit on the following 

business day. There is no additional charge for this service. 

Electronic Check Deposits via Image Deposit Direct® (IDD) 

Electronic deposits may be sent on holidays and weekends, however, we do not post the deposit until 

the next available business day. Image cash letter transmissions received by 5:00 p.m. ET on Sunday 

are processed that evening so clients may receive some availability of funds Monday morning. IDD 

deposits must be made by 10:00 p.m.ET on Saturday to receive any Monday availability. There is no 

additional charge for receiving and processing a file on a weekend or holiday. 

Paper Check Deposits 

On weekends and some bank holidays, deposits can be delivered to check processing centers for 

ledger credit on the following business day. Your dedicated client service professional (CSP) can 

assist you in determining if a processing center will be available to receive weekend or holiday 

deposits. J.P. Morgan does not charge extra for this service. However, your courier may impose an 

additional charge for this service. 

13.42 What type of deposit bags does the bank allow/require? 

The required deposit bag is a tamper-evident, two-pouch, “cash and check” plastic security bag. One 

pouch is resealable; the other is tamper-evident. One side of the bag must be clear to verify the 

contents, and the bag number must be bar-coded on the outside of the bag. 

J.P. Morgan also requires the District to use disposable plastic coin bags for coin deposits greater 

than $10. Depository bags that are not purchased through J.P. Morgan must meet the minimum 

deposit bag specifications outlined in Appendix 10. 

a. Does the bank provide these bags? 

J.P. Morgan provides its clients with access to the deposit bag vendor at preferred prices. The 

Bank has implemented a full-service program for ordering, billing and drop-shipping deposit bags 

to client locations. Order bags online at www.chasebags.com, or call the vendor directly at 866- 

458-BAGS (866-458-2247), from 8:00 a.m. to 7:00 p.m. ET. Carol Leonard the District’s 

dedicated CSP can answer any questions. 

J.P. Morgan does not require clients to use the Bank’s bags. If the District chooses to provide 

their own bags, they must meet J.P. Morgan’s deposit bag specifications and standards of 

security, strength and durability. 





b. Does the bank charge a fee for these bags? 

J.P. Morgan levies no fees above those charged by the vendor. The cost of bags to the District is 

the same as that paid by Chase branches and vaults. Monthly billing can be itemized by location 

on the District’s statement and billed directly to an account or charged to a credit card. Fees 

include the cost of the bag and standard delivery via UPS Ground. Only sales taxes are 

additional, where applicable. Prices depend on the size of bag ordered. Pricing and bag sizes as 

of Jan 2012. 

Depository 

Channel 

Branch, 

check or 

vault 

Branch, 

check or 

vault 

Vault 

Vault 

Description Features 

Cash only, 

check only, 

or cash and 

check 

Cash only, 

check only, 

or cash and 

check 

Bulk Coin 

Bulk Coin 

10" x 15" Small Dual-Pocket Security Bag 

• Tamper-evident Sentry 3 closure for maximum security 

• Dual-pocket, (top/bottom or side by side bag) for 

separating cash and checks 

• 1,000-note currency capacity 

• 300-check capacity 

• Tri-extruded film for added strength and security 

13" x 21" Large Dual-Pocket Security Bag 

• Tamper-evident Sentry 3 closure for maximum security 

• Dual-pocket , (top/bottom or side by side bag) for 

separating cash and checks 

• 3,000-note currency capacity 

• 600-check capacity 

• Tri-extruded film for strength and security 

11" x 17" Small Coin Bag 

• Can accommodate a “half bag” of any coin 

denomination: 

$500 in quarters 

$500 in dimes 

$100 in nickels 

$25 in pennies 

$100 in dollars 

$500 in halves 

• 6.5-mil film for maximum strength 

• Reinforced handle for easier transportation 

12" x 21" Large Coin Bag 

• Meets all Federal Reserve requirements for coin 

shipments 

• Can accommodate a "full bag" of any coin 

denomination: 

$1,000 in quarters 

$1,000 in dimes 

$200 in nickels 

$50 in pennies 

$2,000 in dollars 

$1,000 in halves 

• 7-mil film for maximum strength and durability 

Reinforced handle for easier transportation 

Price/ 

Number of 

units per 

package 

$25.00/100 

$35.00/100 

$50.00/100 

$60.00/100 





13.43 Are there any benefits to separating currency, checks and coins in separate deposit bags? 

Separating the checks from cash allows the District’s courier to deliver the checks directly to the 

check-processing center to meet ledger cut-off and availability deadlines. Deposit deadlines are later 

for separate cash and check deposits than for mixed deposits. 

If the District requires that we report cash deposits separately from check deposits, then separate 

deposit bags with separate deposit tickets (containing a unique BAI identifier) are required. 

Additionally, separate bags provide a security measure by reducing the possibility of combining cash 

with checks and inadvertently sending the cash to the check-processing center. 

13.44 Does the bank require that cash be deposited in standard straps only? Is there a penalty for depositing 

non-standard straps? 

J.P. Morgan does not require that cash be deposited in standard straps. However, the Bank does 

offer price incentives based on how the deposit is prepared. The “Cash Vault Services Deposit 

Preparation Guide” that illustrates the most advantageous ways to prepare deposits is in Appendix 9. 

13.45 Provide a copy of your deposit preparation instructions. 

Please refer to Appendix 9 for our “Cash Vault Services Deposit Preparation Guide.” 

13.46 Does the bank accept loose and/or rolled coin for deposit at the vault, and branch locations? Is there a 

fee for depositing loose or rolled coin? 

J.P. Morgan accepts loose and rolled coin for deposit at vault, banking center and night drop 

locations. Regular deposits can contain up to $10 in coin. Deposits with greater than $10 in coin are 

strongly recommended to go to corporate vaults using plastic bags specifically made to accommodate 

large coin deposits. Bags should weigh less than 50 pounds each. 

There are price incentives for preparing standard coin bags, sorted by denomination into Fedstandard 

dollar amounts. The Bank accepts mixed and partial bags through the vault. Please see the 

pricing section of this proposal for associated fees. 

13.47 What type of check reader/sorter does the bank use? 

J.P. Morgan offers and supports Panini, Epson and RDM scanners. Our preferred scanners, at this 

time, are Epson’s CaptureOne product line. J.P. Morgan typically deploys the Epson CaptureOne 

60/100, but supports a variety of other scanners including the RDM single feed scanner and Panini 

My Vision X scanners. Scanners have a single input tray that can hold up to 100 checks at a time. 

Please refer to Cost of Services for pricing of scanners, which include a 2-year warranty period, along 

with cleaning supplies, including canned-air, a soft cloth, and isopropyl alcohol – or a scanner 

cleaning kit or cleaning card. Ink cartridges are not required. 

13.48 Do Zero Balance Account (ZBA) reports include float? 

Gross balances and float are transferred from each subaccount to the master account. Float 

information on ZBAs can be provided on deposit information through the balance reporting system. 

13.49 How does the bank determine and calculate availability of deposited items? 

The availability schedule determines availability for each item. Availability is based on the drawee 

bank routing/transit number, the time the deposit is processed, fractional float assignment and, in 

some instances, the dollar amount of the item. 





a. Does the bank give immediate availability for on-us items? 

Availability for on-us items and on-us controlled disbursement items varies by availability 

schedule. For specific details, please refer to the “Availability Schedule” in Appendix 1. 

b. Does the bank calculate availability by item or formula? 

J.P. Morgan calculates availability by item. 

c. Does the bank use a standard schedule? Accelerated schedule? How often is it updated? 

The Image Deposit Direct and Wholesale Lockbox Availability Schedules are designed to provide 

accelerated funds availability, compared with paper deposits. 

J.P. Morgan offers multiple schedules for each depository product, including standard and 

accelerated schedules. The Bank reviews these schedules quarterly to determine appropriate 

changes. 

d. Provide a copy of the availability schedule that will apply to deposits into the District’s accounts. 

Please see Appendix 1 for a copy of the District’s “Availability Schedules.” 

13.50 What are the requirements for depositing checks (e.g. pack size, audit tapes)? 

Please refer to Appendix 9 for our “Cash Vault Services Deposit Preparation Guide.” 

13.51 Does the bank offer remote deposit services? 

In September 2004, J.P. Morgan was the first bank to conduct a live pilot of image exchange with 

another financial institution. 

Image Deposit Direct (IDD) is J.P. Morgan’s remote deposit solution. IDD provides end-to-end 

hardware and software that lets the District deposit checks from any location at any time. This 

eliminates the need to bring checks to a bank location. The technology lets the District scan checks 

for deposit, securely store the images via online archive, convert consumer checks into ACH 

transactions and submit the images to J.P. Morgan for deposit. 

Image Deposit Direct 

Image Deposit Direct (IDD) is implemented by J.P. Morgan’s IDD operations team and includes a 

one-hour training session. RDM is the vendor partner for client software. Epson, Panini or RDM 

scanners are used to scan checks. Here is a detailed overview of how the IDD solution works: 





IDD Solution Overview 

Figure 7 

• The District’s customer drops the payment into a dropbox, brings a check for payment into the 

District’s office or mails a check to an internal lockbox. 

• The District endorses all checks and runs through the scanner. 

• The District enters remittance data, up to 10 additional fields of information that are configurable 

to the District’s requirements (account number, customer name, etc.). 

• For Epson scanner only, the District can include a franking feature that allows the scanner to 

place “ELECTRONICALLY PROCESSED” on the front of the checks as an indicator the checks 

have been processed. This feature mitigates risk, as processed checks will be voided. 

• J.P. Morgan recommends the destruction of checks within 14 days of scanning and submitting 

them. 

• The IDD image repository holds the images for 25 months. They are accessible online in 

case an image of a deposited check is required. 

• The District can scan, virtually encode and upload an IDD deposit throughout the day. 

• IDD Standard: Account is credited on a same-day basis with availability assigned via the 

District’s assigned availability schedule for deposits submitted before 10:00 p.m. ET. 

• IDD with ACH: ARC-eligible checks and nonconvertible checks are combined into a single 

deposit on next-day basis. ARC-eligible checks are available the next business morning, 

while nonconvertible checks are available based on the District’s assigned availability 

schedule for deposits submitted before 7:00 p.m. ET. 

• J.P. Morgan performs an image quality analysis (IQA) on each item. This includes tests for: dots 

per inch (DPI), document length, document height, missing corners, streaks, darkness, noise, 

brightness, contrast, focus, skew, E13b integrity and MICR match. 

• The Bank deems images that fail the initial image quality test “suspect” and manually reviews 

items to determine if the deficiency (e.g., too light, failed contrast, unreadable signature, etc.) 

is within the guidelines of Check 21. If the decision is yes, J.P. Morgan passes the items back 

into the clearing process, since these items have a high probability of acceptance at the 

paying bank. These items require an additional day for availability. 





• The Bank enters images that are unacceptable, nonconforming items (NCIs), into the deposit 

correction system. The District receives an adjustment notice advice for these items. The 

District can then either rescan the item or submit via paper deposit. 

• When the District submits an IDD deposit, the imaged checks are reviewed and sent for clearing: 

• J.P. Morgan clears items drawn on image-exchangeable endpoints via image exchange. The 

Bank clears more than 99% of all checks through image exchange. 

• The Bank clears items drawn on non-image-enabled endpoints via image replacement 

documents (IRDs), also known as substitute checks. 

• If the District chooses optional ARC service, the Bank clears eligible items via ACH (ARC). 

• J.P. Morgan employs some of the most advanced ACH-eligibility decision methodologies in 

the industry to decide the most effective means of clearing items: 

― Zero Administrative Returns (ZAR): Nonfatal ACH returns are automatically represented 

up to two times based on account setup. 

― Preemptive Processing Intelligence (PPI): Ineligible item database logic helps ensure 

clearing as a check via image exchange or IRD. 

― Notification of Change (NOC): The NOC database enables repetitive payment 

processing edits to help ensure ARC processing. 

• The District can use prior-day balance and transaction reporting via the information reporting 

systems to see IDD deposit and adjustment transactions. 

• IDD Resource center (http://www.jpmorgan.com/iddresourcecenter): The site contains 

technical specifications, checklists, user guides in English and Spanish, helpful links, etc. 

Image Deposit Direct – Mobile 

• Image Deposit Direct (IDD) – Mobile extends the reach of a virtual deposit to the point of check 

receipt. It is fully integrated with our existing IDD remote deposit capture product, taking 

advantage of its proven scalability, security and robust functionality. IDD and IDD – Mobile can be 

used together or stand alone. Office workers can use the desktop scanner and mobile workers 

can use a Smartphone device to make check deposits to the corporate DDA. 

• Mobile users, with a certified Smartphone device, connectivity service plan and a wireless signal 

can: 

• Scan checks with a U.S. routing & transit number, in U.S. funds to a U.S. corporate DDA, which 

are uploaded and transmitted to J.P. Morgan for processing. (Available in the U.S. only). 

• Users at the office can review and approve the mobile items (optional). 

• No sensitive data is stored on the mobile device once a deposit is completed. 

• Regardless whether a check image is captured on a desktop scanner or Smartphone, the check 

transactions are captured on one system. 

• Reports and images can be accessed from a PC and an internet connection. 

a. Provide any information on the service including specifications. 

Image Deposit Direct 

J.P. Morgan’s IDD solution has the following minimum system requirements: 

PC Configuration 

• 500 MHz P3 processor 





• 50 MB of free hard drive space for scanner control manager, required ActiveX controls and 

the TIFF viewer 

• Intel® Pentium Processor IV, 2.6 GHz (1.6 GHz for online solution) 

• 5 GB of free hard-drive space for ITMS Client application and transaction data (1 GB for 

online solution) 

• 256 MB RAM 

• USB port 2.0 

• 1024 x 768 screen resolution (wide screen resolutions are not supported) 

Windows Requirements 

• Microsoft ® Windows ® operating system (North American versions only): Windows 32-bit XP 

SP2 or SP3 Home or Professional Edition OR 

• Windows 32-bit Vista SP1 Business Edition, Windows 64-bit Vista SP1 Business or Ultimate 

Edition, Windows 7 64 bit. 

Internet Requirements 

• Must have Microsoft Internet Explorer® browser version 6.x, 7.x, 8.x or 9.x with Microsoft 

128-bit high encryption pack. NOTE: IDD does not support Microsoft Internet Explorer version 

7.x 

• TLS 1.0 setting must be enabled 

• High-speed Internet service such as cable or DSL, minimum 500 Kbps upload speed 

Enabled Services on the local PC 

• Server services 

• Computer browser services 

• Workstation services 

• Administrator rights on local PC 

• File and printer sharing for Microsoft Networks must also be enabled. 

• Compatibility issues may prevent the PC-based software from running properly on a PC that 

has: 

• Great Plains software running on the desktop. 

• Other software running MS SQL Server or MSDE (Microsoft SQL Server Desktop 

Engine) applications on the desktop. 

• Software running a different version of Microsoft Data Access Components (MDAC) on 

the desktop than the IDD software. 

• Epson, Panini and RDM scanners are used to scan check items. 

• High volume 

• Epson Capture One 90-100 

• Panini VisionX 75-100 

• Duplex scanner captures front and back images of checks in one pass. 

• Up to 5,000 items per day 

• Medium volume 





• Epson Capture One 60-100 

• Panini VisionX 50-50 


• Up to 4,000 items per day 

• Low volume 

• RDM EC7000i, single feed 


• Up to 100 items per day. 

b. Will the bank provide the equipment needed? Is there a charge for the equipment? If so, please 

provide. If any contracts or agreements are required for the equipment, please provide. 

Yes, J.P. Morgan will provide the scanners and software necessary for IDD. Fees will be included 

in Cost of Services and Proforma. 

13.52 What courier services does the bank provide, if any, for pick-up and delivery of check deposits? 

J.P. Morgan does not provide armored courier service. 

13.53 Provide a list of the bank’s holidays. 

2012 Bank Holidays 

Monday, January 2, 2012* 

Monday, January 16, 2012 

Monday, February 20, 2012 

Monday, May 28, 2012 

Wednesday, July 4, 2012 

Monday, September 3, 2012 

Monday, November 12, 2012 

Thursday, November 22, 2012 

Tuesday, December 25, 2012 

New Year's Day Observed 

Dr. Martin Luther King, Jr. Day 

Presidents' Day 

Memorial Day 

Independence Day 

Labor Day 

Veterans' Day Observed 

Thanksgiving Day 

Christmas Day 

13.54 Deposit Verification: 

13.55 How will the bank return the validated deposit receipts to us? Within what time frame? 

The vault offers the following notification options to supplement the paper advice: 

• E-Mail: next-day notification for all deposits and adjustments processed during the prior 

processing day. 

• Fax: next-day notification for all deposits and adjustments processed during the prior processing 

day. 

• Receipt Mailer: mailed next day for all deposits, adjustments and change orders processed 

during the prior processing day. 





13.56 If provisional credit is given, when does verification take place? In 24 hours? In 48 hours? 

If we receive your deposit prior to your established local cutoff time (8:00 p.m. for cash-only and 3:00 

p.m. local time for mixed deposit at the Miami, FL vault), we can update your account with a 

provisional same-day ledger credit, allowing for the possibility of cash deposits to be converted into 

usable funds on the same day. 

Your cash-only deposit transactions will post to your designated demand deposit account (DDA) with 

the deposit bag number and deposit ticket date, making accounting for your cash activity easier than 

ever. Verification of the cash will occur within 48 hours. 

13.57 Does the bank identify and adjust all discrepancies? 

J.P. Morgan identifies all discrepancies. The Bank internally manages adjustments in the vault below 

a predetermined sundry amount without posting the corrected entries and related fees to the District’s 

account. Branches process all client adjustments regardless of dollar amount. 

a. If no, at what dollar amount does the bank write off discrepancies? 

J.P. Morgan processes all client adjustment requests regardless of dollar amount. The Bank 

internally manages adjustments below a predetermined sundry amount without posting the 

corrected entries and related fees to the District’s account. 

b. What is the standard procedure for reporting deposit adjustments? What additional options are 

available (e.g., copies to multiple locations)? 


The standard delivery method for cash adjustment advices is the U.S. Postal Service. J.P. 

Morgan mails adjustment advices within one business day of verification. The Bank mails the 

advice to the address listed on the deposit ticket. The store/location number can be included on 

the adjustment advice. The Bank is not able to mail an adjustment advice to an alternate address, 

nor can it send copies to multiple addresses. 

J.P. Morgan also posts the adjustment to electronic information reporting and the bank statement 

as a deposit credit or debit adjustment with the dollar amount and store location number. 

Electronic Check Deposits via Image Deposit Direct (IDD) 

J.P. Morgan prints an image quality failure document if image quality does not meet acceptable 

standards. The Bank mails it to the District. The District may then either deposit the original item 

or rescan and resubmit another image. J.P. Morgan can mail the image quality failure document 

to the same address as the statement or to an alternate address. Client services officers notify 

IDD clients. 

The standard delivery method for cash adjustment advices is via U.S. Postal Service. Within one 

business day of verification, J.P. Morgan mails adjustment advices to the address listed on the 

deposit ticket. The store/location number can be included on the adjustment advice. J.P. Morgan 

can mail a second copy of the adjustment advice to an alternate address. Overnight delivery is 

also available. 

The Bank posts the adjustment to the District’s account and reports it – through electronic 

information reporting tools and on the District’s bank statement – as a deposit debit adjustment 

with the dollar amount and store location number. 








deposit ticket. The store/location number can be included on the adjustment advice. The Bank 

can mail a second copy of the adjustment advice to an alternate address. 

The Bank posts the adjustment to the District’s account and reports it - through electronic 

information reporting tools and on the District’s bank statement - as a deposit debit adjustment 

with the dollar amount and store location number. 


The standard delivery method for adjustment advices is via U.S. Postal Service. Within one 

business day of verification, J.P. Morgan mails adjustment advices to the address provided. The 

store/location number can be included on the adjustment advice. The Bank is not able to mail an 

adjustment advice to an alternate address, nor can it send copies to multiple addresses. 

The vault also offers the following notification options to supplement the paper advice: 



• Fax: next-day notification for all deposits and adjustments processed during the prior 


• Phone: notification by noon the following day for all adjustments greater than $100. 



J.P. Morgan also posts the adjustment to electronic information reporting tools and the bank 

statement as a cash credit or debit adjustment with the dollar amount, store location number, 

original deposit amount, original deposit date, processing vault ID and adjustment reason. 

c. What is the bank’s policy on receipt of tampered bags? 

Branch 

Teller examination of the dual-pouch plastic bags is included in all steps of the process. J.P. 

Morgan removes and logs night depository contents daily under dual control. The Bank then 

distributes them to tellers for processing. 

If a bag appears to have been tampered with, the teller changes the tampered indicator to “Yes” 

on the teller system. He or she then takes the tampered bag to the assistant manager or 

designate. The assistant manager or designate assigns the bag to the “supervisor” on the teller 

system, secures the bag and requests the District’s presence to process the bag. 

Vault 

The Bank examines all depository bags for evidence of tampering when they are received from 

the armored courier. The teller refuses any bag that shows signs of tampering. The bag is 

immediately placed in a new, sealed tamper-evident bag and returned to the armored courier. 

The teller writes “Refused” on the armored courier manifest next to the deposit in question, and 

the deposit is not included in the final piece count. 

J.P. Morgan also completes a Bag Refusal Manifest indicating the District’s name, account 

number, original client bag number, number of the bag in which the deposit is being returned, 

armored courier and the reason for refusing the deposit bag. It is signed by the armored courier 





and placed with the refused deposit. The vault also notifies the District of the refusal by phone 

and the Bank mails a copy of the Bag Refusal Manifest to the address on record. 

13.58 When counterfeit bills are discovered, what is the bank notification and adjustment process? 

J.P. Morgan uses state-of-the-art bill counters with sophisticated counterfeit- and mutilated-bill 

detectors. When the Bank detects counterfeit bills during initial deposit verification, it debits the 

District’s account for the amount of the counterfeit. 

Then, J.P. Morgan completes the required Secret Service document (Form SSF1604), submits it to 

the Secret Service with the counterfeit bill(s) and mails the debit advice and a copy of the SSF1604 

report to the District. 

13.59 Does the bank provide training for the District’s cashiers to ensure proper preparation of deposits and 

regarding procedures to recognize counterfeit bills? 

A copy of J.P. Morgan’s “Deposit Preparation Guide’’ can be found in Appendix 9. The bank does not 

provide training for counterfeit bills. For information on counterfeit currency, please refer to the U.S. 

Treasury website. 

http://www.treasury.gov/Pages/Search.aspx?k=counterfeit+currency&s=allsites 

13.60 Vault Services: 

13.61 Does the bank have an automated vault service? Describe the deposit and change order procedures, 

cut-off times, and other features of this system? 

Utilizing Vault Deposit Processing 

Cash deposits and cash ordering can be handled at the local J.P. Morgan cash vault located in 

Miami, FL. The District should contract directly with the courier for transport and delivery to the vault 

with a mutually agreed upon transport schedule. 

Currency Deposits 

Our goal is to offer the right currency solutions no matter what your needs. We focus on facilitating 

and safeguarding the process with proven products, services and client care. Further, as the #2 

depository bank in the United States, J.P. Morgan is committed to this business, and has made the 

investments to maintain greater control over the quality and efficiency of each transaction. Our cash 

vault services allow you to: 

• Make cash deposits from all your locations via armored courier to any of our over 90 cash vaults. 

• Get same-day provisional credit for cash deposits made one to five hours later than the Federal 

Reserve allows. 

Your selected armored courier will pick up your deposit bags and deliver them to our Miami, FL cash 

vault site, where they will be processed and credited to your account by cash vault processing 

specialists using our state-of-the-art equipment. 

If we receive your deposit prior to your established local cutoff time (8:00 p.m. for cash deposits made 

to the Miami, FL vault, 3:00 p.m. for mixed or check only deposits), we can update your account with 

a provisional same-day ledger credit, allowing for the possibility of cash deposits to be converted into 

usable funds on the same day. 





Your cash-only deposit transactions will post to your designated demand deposit account (DDA) with 

the deposit bag number and deposit ticket date, making accounting for your cash activity easier than 

ever. Verification of the cash will occur within 48 hours. 

Should any discrepancies arise, you will be notified via a mailed advice on the day following 

verification. E-mail notification of adjustment information is also available. 

Adjustments will also post electronically through our information reporting system, as well as on your 

bank statement. A cash credit or debit adjustment with the dollar amount, store/location number, 

original deposit amount, original deposit date, processing vault ID and adjustment reason will be 

included. 

Web Currency Services 

Web Currency Services is J.P. Morgan’s online solution for clients currency needs. This web portal, 

available 24 hours a day, is online real time with the Bank’s nationwide vault network. 

Web Currency Services is designed to help the District simplify cash ordering, uncover ordering 

standardization opportunities and monitor vault deposit credit to its accounts. Additionally, this service 

consolidates information from various sources eliminates the need for the Districts’ staff to deal with 

multiple systems, databases and spreadsheets to reconcile data. 

Web Currency Services is a secure, one-stop location for the District’s authorized staff to: 

• Place currency orders in real time, manage deposits, and view currency and coin denomination 

details 

• Access detailed order and deposit history for the District locations 

• Analyze and evaluate order and deposit trends to uncover efficiency opportunities 

• Filter order and deposit data fields and parameters to speed inquiry resolution efforts 

• View dynamic transaction data reports and graphic illustrations to assist with trending, 

compliance and audit needs 

• Facilitate loss prevention and reduce the potential for fraud 

Web Currency Services provides a variety of detailed views of cash transactions and user-friendly 

analytical dashboards. 

13.62 Are there minimum purchase requirements (e.g., standard straps of currency and full boxes of coin)? Is 

a discount offered for purchasing standard amounts? What settlement options are available for change 

orders (e.g., cash, check, debit to account, wire)? 

J.P. Morgan does not require minimum purchase requirements for change orders. 

13.63 Return Item processing: 

13.64 Can items be automatically redeposited? If so, how many times? 

Yes, J.P. Morgan can automatically redeposit eligible checks returned for the first time. The Bank can 

redeposit all eligible returned checks, only checks under a certain dollar amount, or only checks 

greater than or equal to a certain dollar amount. Collection float for the redeposited items posts to the 

District’s account. 

Redeposit Posting/Notification 

J.P. Morgan offers three options for redeposit posting/notification: 





• Option 1: The redeposit does not appear on either advice or post to the account. 

• Option 2: The redeposit appears on advice and posts as debit and credit to the account. 

• Option 3: The redeposit appears on return item advice but does not post to the account. 

a. Is this service optional by location? 

Redeposit is available per account not by location. 

b. Can copies of all redeposited return items be provided to the depositing location or a central office? 

If so, within what time frame? 

Yes, returned deposited item images are available to the District. The Bank generates advices 

throughout the day and sends them via First Class U.S. mail. The advices also contain actual 

return items and the following information: processing date (debit date), advice number, deposit 

account bank number, deposit account number, alternate chargeback account bank number (if 

applicable), store/location/lockbox number (if applicable), dollar amount of each return, return 

reason for each return, maker name for each return (if applicable), internal bank sequence 

number for each return and total debit amount for the advice. 

Online Image Viewing 

Check Deposit Return Images is a next-day online access tool that stores return and redeposit 

item information and images. This tool allows authorized users to electronically retrieve return 

and redeposited item images, which are stored for up to seven years. 

Check Deposit Return Images provides secure, 24-hour, high-speed online access to the 

District’s return and redeposit images. 

Fax Notification 

J.P. Morgan can fax the front and back of the returned and/or redeposited items to the District. 

The Bank can fax to one number per location. The following options are available: 

• Fax all returns over a certain dollar amount. 

• Fax all returns. 

• Fax redeposits over a certain amount. 

• Fax all redeposits. 

• Fax all returns and redeposits over a certain amount. 

• Fax all returns and redeposits. 

J.P. Morgan can provide faxes throughout the day as the items are processed, or at the end of 

day. 

13.65 Provide the bank’s standard return item processing instructions. List any non-standard options that are 

available. 

J.P. Morgan maintains a comprehensive database that details the District’s return item handling 

instructions. During the check clearing process, the paying bank may return deposited checks for a 

number of reasons, including non sufficient funds (NSF), uncollected funds, stop payment, account 

closed, etc. The Bank routes most returned items through the Federal Reserve System to regional 

return processing areas. 

After processing the District’s return items per the handling instructions, the returns system generates 

a debit to the designated demand deposit account (DDA). The Bank matches the actual return items 





to a return item advice and mails them to the DDA statement address via First Class U.S. mail. The 

return advice lists the dollar amount and the reason for return for each item. 

During the account implementation process, the Bank helps set up the solutions to best meet the 

District’s needs in managing returned checks. J.P. Morgan can provide a variety of optional services 

to meet the District’s needs for handling return items. A few of the available services are listed below: 

J.P. Morgan offers the following advice options: 

• Standard Advice: 

• The standard advice lists up to eight returned checks. 

• If location - store or lockbox - processing is requested, advices are produced by location. 

• If “maker name” is requested, the maker’s name (first initial and last name) is included on the 

advice. 

• Cash Letter Advice: Lists all return checks processed during the current cycle. Multiple advices 

may be created during the processing day. 

• Extended Data Advice: If extended data is keyed, additional fields appear on advice. 

• Single Item Advice: Each return appears on a single advice. 

Return Item Posting Options 

• Single Item Posting: Each return posts individually to the client’s account. 

• Advice-Level Posting: The account debits at the advice level. 

• End-of-Day Posting: All returns for the day’s processing post as a lump sum to the account. 

Store/Location Number 

J.P. Morgan provides the store/location or lockbox number for return item reporting. The 

store/location number can contain up to 10 digits. Deposit tickets should include the store/location 

number in the MICR line. The endorsement stamp for each store/location should also contain that 

number. 

Re-presented Check Entry (RCK) 

Re-presented Check Entry (RCK) is a special redeposit process that converts eligible paper check 

returns into an ACH-formatted debit record to be re-presented via ACH. Compared with paper 

redeposit, RCK rules allow an extra presentment when the District can choose one paper redeposit 

followed by a final ACH presentment or two ACH presentments. RCK can accelerate, and may 

reduce, the costs of returned check collection. 

Only checks that meet the following criteria are eligible for RCK: 

• Returned for NSF or uncollected funds. 

• Written for an amount less than $2,500. 

• Drawn on a consumer bank account. 

• Not drawn on a Federal Reserve Bank or Federal Home Bank. 

• Contain a preprinted serial number. 

• Dated fewer than 180 days prior to ACH debit transaction. 





13.66 Can the bank provide a detailed return item transmission to the District? 

Yes, J.P. Morgan offers detailed return item transmissions. The Bank creates transmissions each 

evening and transmits them early the following morning. The Returns Unit produces the files and the 

Connectivity Services Group delivers them. 

a. Please provide details on this service including the fields available and if there is a separate record 

for each returned item. 

Data in the transmission includes: account number, depositing store/location/lockbox number (if 

applicable), check processing date, check deposit date (if available), check R/T number (if 

readable), check account number (if readable), check serial number (if readable), check amount, 

return reason code, maker name (if keyed) and disposition code (chargeback, redeposit, RCK 

conversion). Each transmission includes both returns and redeposits. 

b. Can these records identify the depositing location and the type of item being returned (e.g., personal 

check, traveler’s check, and money order)? 

Although J.P. Morgan identifies the depositing location in the record if store/location reporting has 

been enabled for the account, the Bank cannot identify the type of item being returned. 

13.67 Does the bank have a policy to refuse return items not sent through the system in a timely manner? 

J.P. Morgan does not refuse untimely check returns. The Bank’s policy of accepting all return items 

helps mitigate financial risk by eliminating further processing delays. This practice is consistent with 

banking regulations and standards that require parties to the payment chain to substantiate financial 

losses by issuing claims of late return for this activity. 

13.68 Does the bank assign float to return items? 

While J.P. Morgan does not assign float to return items debited to the account, the Bank does so for 

redeposited items. Additionally, J.P. Morgan assigns zero-day availability to on-us items within the 

local market and one- to two-day availability to local and transit items. 

13.69 Should the District choose to utilize the services of a collection agency, please describe how the bank 

would interact with the provider of those services. 

By request from the District, for third-party providers, J.P. Morgan can mail the original item or a 

duplicate copy of the advice, provide access to the Bank’s information reporting systems or send 

transmissions. 

13.70 Data Transmission: 

13.71 Describe the technical support available to aid in electronic data transmissions. 

In addition, ongoing support is provided by the Client Service and Technical Support Team. Training, 

usage and technical assistance are available from the Client Service and Technical Support Team via 

telephone. 

13.72 What type of output media is available for deposit reporting, e.g., mailed paper report, CD-ROM, 

download from an online system and/or electronic transmission? 

Deposit reporting is available through a variety of methods including the following: our information 

reporting services, direct transmission of both wholesale and retail lockbox detail, DDA statements 

and account reconciliation processing products, including deposit reconciliation. This information can 

be provided daily, weekly or monthly, depending on your needs. 





13.73 The District requires a check fraud prevention service such as positive pay for the District’s accounts 

payable and payroll accounts. Please provide a brief description of your positive pay process. Can check 

issue information be updated during the day? 

The Payables Web Services (PWS) Positive Pay Exception Processing module will allow the District 

to send positive pay issue files via the Internet. J.P. Morgan’s Internet delivery channel provides a 

foundation for secure, automated and traceable communications between J.P. Morgan and the 

District using standard browser software. 

Additionally, PWS will enable the District to use the Internet to review digital images of all exception 

items and instruct J.P. Morgan to pay or return each item from a single screen. Payee name 

exceptions are conveniently delivered along with all other types of exceptions so the District can 

easily employ the most up-to-date fraud protection services. E-mail notification offers a convenient 

way to know when exceptions are available for review. 

With Payables Web Services (PWS) Positive Pay, each day the District issues checks it also provides 

the Bank with an issue file containing check amounts and serial numbers. Issue data can be simply 

and flexibly supplied to the Bank via file transmission, uploaded to PWS, or manually keyed into 

PWS. We then systematically compare the daily check presentation information against the District’s 

check issue file and generate an exception report on a next day basis identifying any mismatched or 

no-issue information on file items. The deadline for the District to transmit check issuance files to the 

Bank is 11:00 p.m. ET. 

J.P. Morgan reviews and scrubs the exceptions to help ensure that there are no mis-encoded items. 

The report is e-mailed via PWS at the beginning of the following business day, providing the report to 

the authorized District user(s) upon log in for pay/return decisioning. The exception items report 

provides both a front and back image of each item. 

Authorized District users simply click on the check number of each item to view front and back check 

images, and can select the pay or return button for each item or select the pay all or return all button, 

and then electronically submit the decisions to the Bank. The District receives an online confirmation 

indicating the submission was successful, which can be saved electronically or printed for future 

reference. No special software is needed for this functionality. 

To prevent check fraud, the District can view images of positive pay exception checks before 

authorizing payment. 





To prevent check fraud, the District can view images of positive pay exception checks before authorizing 

payment. 

Figure 8 

Payee Verification 

We also recommend the District use Positive Pay Payee Verification which provides an additional 

layer of fraud prevention protection. For Payee Verification, the District provides the Bank with payee 

names in your check issue file transmission, Payables Web Services (PWS) file upload, or PWS 

manual entry. 

While Positive Pay matches the MICR information of your presented check to the issue file, Payee 

Verification takes the additional step of validating that the payee name matches issue file payee 

information. Our payee name review digitally interrogates the payee name and also looks for 

alterations or additions above, below, or to the right of the payee name that would change the payee 

identification. Mismatched items are visually evaluated to eliminate digital interrogation reading errors 

and then are sent to the District in the daily Positive Pay exception reporting for your decisioning. 





As a security enhancement to J.P. Morgan’s Positive Pay service, the District will receive additional 

fraud protection by selecting our Payee Verification product. 

Payee verification 

Interrogates and detects altered 

payee line and any variable data field 

Figure 9 

Traditional positive pay 

MICR verification (account, amount, serial number) 

Teller Line Positive Pay 

J.P. Morgan offers to the District our Teller Line Positive Pay. Teller Line Positive Pay is the strongest 

defense available to prevent check fraud. Within one hour of receipt of the District’s issue file, we will 

update our teller line systems. When a check is presented for payment at a Chase teller window, the 

teller system determines the validity of the check issue prior to payment. Items not found as matching 

open entries on the issue file will be denied encashment. 

Exception Notification 

Payables Web Services (PWS) provides, via “PUSH” technology, a daily Positive Pay e-mail 

notification that indicates accounts with exception items (or discrepancies) that day or “no items 

today”, providing more complete reporting to the District. Notification is sent by 11:00 a.m. ET and 

includes a link to the J.P. Morgan ACCESS logon screen. 

If there are exception items to view, the authorized District user can log in to the J.P. Morgan 

ACCESS portal to review the list. Once logged in via PWS, authorized users can click on the check 

number of each item to view images of the front and back of the check, select the pay or return button 

for each item (or select the pay all or return all button), and submit the decision to the Bank. The 

District has until 4:00 p.m. ET to notify the Bank of your Pay/No Pay decisions. 

If no response is received by 3:00 p.m. ET, we will send out a reminder e-mail notification indicating 

that the bank is awaiting a final payment decision. Any Positive Pay exception item that is still 

awaiting a payment disposition by 4:00 p.m. ET will be returned "unpaid" by default. 





ACH Debit Block and ACH Transaction Review 

To protect the District from unauthorized ACH 

transactions, J.P. Morgan provides both ACH debit 

blocking and more specific ACH Transaction Review 

products. 

ACH Debit Block enables the District to specify which 

companies are authorized to post ACH debits to the 

District’s accounts, blocking those that are not 

authorized. You can also set dollar limit ceilings or 

block all debits from posting. 

With ACH Debit Block Transaction Report, the District 

receives a daily report that provides a listing of all 

transactions that are blocked. Data is transmitted via 

Secure eMail SM to indicate blocked transactions, or an 

optional e-mail indicating that no transactions are 

blocked. 

ACH Debit Block enables the District to: 

Block 

• All ACH transactions 

• Specific originators 

• By dollar amount 

• By date 

Allow 

• All ACH transactions 

• Specific originators 

• By dollar amount 

• By date 

How it Works 

When an originating company attempts to post ACH debits, the system immediately compares the 

incoming company identification (ID) number with the District’s listing of authorized company ID 

numbers. 

This incoming ID number must match exactly – and if you choose, comply with dollar limits – to post 

successfully. If your parameters are not met, the system automatically returns the item without 

posting the debit to your account. 

Using the system’s “block all” option, all ACH debits are prevented from posting to the District’s 

account. 

Choose the option that best meets the District’s needs: 

• All ACH Debits Blocked – All ACH debits presented against the District’s account will be returned 

to the originator. 

• Maximum ACH Debit Dollar Limit Allowed – the District specifies the maximum dollar amount 

acceptable for ACH debits. Those exceeding the maximum amount will be returned. 

• Allowable Company Identification Numbers and Dollar Limits – the District provides a list of 

allowable company ID numbers. Only ACH debits that contain the company ID numbers on your 

list will post to the District’s account. The District can also add criteria for accepting only ACH 

debits up to a dollar limit and during specified time periods. 

• Non-allowable Company Identification Numbers – the District supplies a list of unauthorized 

company ID numbers. All ACH debits with a company ID number that appears on the District’s 

unauthorized list will be returned. 

Debits Not Affected by Debit Blocking 

• In accordance with our customary practices and applicable law and rules, the following types of 

ACH related debits will not be blocked: 

• ACH debits to your account to offset ACH credit entries originated by you through us 

• Reversals of previously received ACH credits 





• Reclamation entries, as defined in the Operating Rules of the National Automated Clearing 

House Association (NACHA) 

• Debits to your account initiated by us to correct processing errors, effect back-valuations or make 

other adjustments 

• Returns or reversals of ACH debits originated by you 

• Fees or charges owed for services provided by us 

ACH Transaction Review 

In addition to ACH Debit Block, J.P. Morgan offers the District our ACH Transaction Review, also 

available through Payables Web Services (PWS). The District will be able to review and confirm ACH 

debit and credit transactions that post to your account and return unauthorized transactions on a 

case-by-case basis. 

The day after ACH transactions post to the District’s J.P. Morgan account we can notify you via e- 

mail, providing you the ability to view all ACH transactions, or a listing of transactions based on the 

filter criteria you define, and make a return decision or allow the ACH transaction(s) to remain posted. 

The following criteria can be used to limit the number of ACH transactions you wish to view: 

• Debits and Credits 

• Company IDs 

• Dollar Amount and/or Dollar Amount Range 

• Transaction Type (i.e. TEL, WEB, ARC, CCD, POP, PPD) 

Transactions blocked by ACH Debit Blocking will not be presented for review. 

13.74 The District will transmit ACH files for employee and vendor payments. Please provide an ACH calendar 

as well as the various windows and cutoffs. 

J.P. Morgan provides the following methods for origination of ACH credits and debits: 

• The FTP (File Transfer Protocol) transmission method for large batch origination. 

• The ACH Initiation and Reporting module of J.P. Morgan ACCESS - a fully integrated, browserbased 

platform that provides easy-to-use applications for all of your information, compliance and 

portfolio management needs – is recommended for lower volume transaction files. 

Originating large volume transactions through batch file transmissions 

• Using any one of industry standard applications, the District sends the file to J.P. Morgan through 

a common protocol such as Secure FTP (sFTP). 

• The transmission is encrypted and sent to J.P. Morgan for final ACH processing. 

• Regular commercial payments to vendors can be submitted on the business day prior to the 

value date. The District’s ACH payments also can be warehoused for up to 90 days in advance of 

the value date for Direct Send or for up to 30 days using J.P. Morgan ACCESS. 

• Once received, J.P. Morgan’s automated warehouse retention system helps bolster data integrity 

and file edit checks identify potential duplicate files. 

• The Bank provides a transaction journal within two hours of receipt of ACH file initiation 

transmission, including item count and dollar amount. 

• J.P. Morgan will maintain an Internet-facing sFTP server and will create a “drop box” directory on 

the server for the District. The server will be mirrored for disaster recovery. 





• The District will be issued a logon and password, giving the District access to the directory. 

• For inbound data, the District can push files to the directory. The District is responsible for 

initiating the sFTP session to push and pull data files. 

• J.P. Morgan offers a file delivery solution that enables the District to send and receive ACH files 

using SSL session encryption, browser-based file exchange (HTTPS) sFTP with PGP (Pretty 

Good Privacy) or GNUPG (GNU Privacy Guard) file encryption or AS2 (Applicability Statement 2). 

• These delivery methods leverage the Internet and readily available software packages to make 

transferring files simple and secure without the added cost of proprietary software installation. 

• Additional file transfer solutions, such as VAN (virtual area network) and VPN (virtual private 

network), are supported. 

The Bank recommends that large batch files containing any consumer credits and debits be 

submitted at least two business days prior to the settlement date. 

Originating through J.P. Morgan ACCESS ACH Initiation and Reporting for lower volumes 

J.P. Morgan recommends that the District use the ACH Initiation and Reporting module of J.P. 

Morgan ACCESS for your lower volume and manual entry ACH payments. Following single sign-on, 

select ACH Initiation from the menu and enter the relevant/required ACH payment details. In addition 

to initiating payroll, this module also facilitates disbursements and concentration. 

For dual control purposes, a second authorized the District employee must release the ACH 

transactions through J.P. Morgan ACCESS. 

J.P. Morgan ACCESS ACH payment initiation screen. 

Figure 10 





ACH Payment Applications 

The J.P. Morgan ACCESS ACH module presents a full complement of vendor, payroll, consumer, 

cash concentration, Federal and State payment templates. J.P. Morgan updates the predefined, 

downloadable templates as regulations change to make sure that the District automatically accesses 

current information. 

The applications selected by the District offer the ability to restrict 

database access at the User level. Once a database has been 

created, each individual transaction record is entered on a Database 

Detail screen. These screens are customized with data-entry fields, 

current NACHA rules and regulatory requirements for a specific 

database application payment type. 

Transactions based on templates are created by the District, batched, 

approved and then released for processing. ACH files generated 

through J.P. Morgan ACCESS are retrieved and processed six times 

each business day for next-day processing. 

All predefined, 

downloadable templates 

are updated as 

regulations change to 

make sure that the 

District automatically 

accesses current 

information. 

Special features 

• An ACH Import and Validation feature supports an automated interface for several file formats, 

including comma-delimited, fixed length and NACHA-formatted files of ACH transactions. 

• One- or two-day settlement from single or multiple accounts may be established, based on the 

ACH transaction types selected when creating a batch. 

• Monitor the status of ACH transactions via variety of reports for single or multiple batches with a 

30-day historical range. Data can be sorted by payee name or ID. 

• Entered: Submitted for approval 

• Released: Approved and released* 

• In Process: Being formatted for delivery to the J.P. Morgan ACH processing unit** 

• Submitted: Has been created** 

* Batch may be unreleased ** Batch may not be unreleased 

ACH Cutoff Times 

Cutoff Time 

Client initiation method Day cycle Night cycle Same-day book 

transfer 

Touch-tone phone 

(cash concentration) 

Terminal 

(cash concentration) 

PC 

(J.P. Morgan ACCESS) 

Other: EDI^ 

(PaySource) 

6:00 p.m. ET 6:00 p.m. ET 6:00 p.m. ET 

6:00 p.m. ET 6:00 p.m. ET 6:00 p.m. ET 

10:00 p.m. ET 10:00 p.m. ET 10:00 p.m. ET 

10:00 p.m. ET 10:00 p.m. ET 10:00 p.m. ET 

Direct Transmission^ ** 10:00 p.m. ET 10:00 p.m. ET 10:00 p.m. ET 





^Same day settlement will occur if both the debit and credit accounts are held at J.P. Morgan. 

Next day settlement will occur when an involved account is not held at J.P. Morgan. 

ACH PPD's must be received two business days in advance 

** Note that if you need later deadlines, this should be discussed with your Relationship Team 

13.75 Wire Transfers: 

13.76 What is the opening hour and cut-off time in Eastern Standard Time for initiating wire transfers to ensure 

same-day execution? List by type of transfer and method of communication. 

J.P. Morgan provides clients with generous cutoff times to help them ensure same-day execution of 

your payment instructions. These time frames are outlined below (all times are Eastern): 

Clearing Time Frames 

Clearing system Open Close 

Book transfer 9:00 p.m. 6:45 p.m. 

CHIPS 9:00 p.m. 5:00 p.m. 

Fedwire 9:00 p.m. 6:00 p.m. 

Straight Through Processing Cutoff Times* 

Type of Transfer 

Input Method 

Telephone Fax PC Internet 

CPU to 

CPU 

Automated 

Standing Transfer 

Fedwire 5:00 p.m. N/A 5:30 p.m. 5:30 p.m. 5:30 p.m. See note below 

Book 

transfer/Internal 

Drawdown (via 

Fedwire) 

International (USD 

via CHIPS) 

6:00 p.m. N/A 6:30 p.m. 6:30 p.m. 6:30 p.m. See note below 



* Payments that require repair will have a cut off time 30 minutes prior to the stated times above. 

Note for Automatic Standing Transfer: As standing orders/payment instructions are repetitive, 

there is no deadline, per se. In most cases, we execute the standing order early each morning. If it is 

to be based on an account balance either in a J.P. Morgan account or in an account at another bank, 

the transfer will be based on the closing balance as of the prior business day. 

Payment instructions received after cutoff times will be completed on a reasonable-effort basis. 

13.77 What is the cut-off time for incoming domestic wire transfers to receive same day credit? 

The cutoff time for incoming credits is at the close of Fedwire. 

13.78 Does the bank provide end of day extensions for processing if Fed wire hours are extended? If so, how 

would the District be advised? 

J.P. Morgan provides end-of-day time extensions for processing if Fedwire hours are extended. 

The District will be notified of an extension through a banner announcement on the 

J.P. Morgan ACCESS initial screen. 





13.79 Can a wire transfer be canceled after the District releases it to the system? What is the procedure? What 

is the latest time in the day to cancel? Is there a charge for cancellation? 

Requests to cancel wires prior to value date can be sent to J.P. Morgan electronically via eServe, our 

Internet-based inquiry facility. We recommend canceling future value-dated transactions by 4:00 p.m. 

ET on the day prior to the value date. Requests received after this time will be completed on a 

reasonable-efforts basis. 

Given the speed with which straight-through transactions are processed, there is a limited window of 

opportunity to cancel same-day valued wires. If you realize that a wire you have released to J.P. 

Morgan should be canceled, we recommend that you call the funds transfer client service hotline as 

soon as possible. If the wire has not been released, the service representative should be able to 

cancel the transfer. If the wire has been released, the service representative can recall the funds from 

the receiving bank per your written authorization. Please note that recalls are on a reasonable-effort 

basis only. The deadline is the end of the Fedwire processing day, 6:00 p.m. ET. 

Requests to cancel pre-advised payments require confirmation by the beneficiary bank that the 

payment is ‘null and void’. All pricing can be found in the Cost of Services. 

13.80 How does the District track the status of transfers once the transfer is in the system (input, approved 

and released)? How does this differ for telephone initiated wire transfers? 

Telephonic Wire Transfer with a PIN 

Telephonic Wire Transfer with a PIN can be used as a primary and/or backup method of Wire 

initiation. Benefits include: 

• Ability to transact higher valued wires 

• Per transaction limit clients may initiate wires based on balance availability 

• Currency clients may initiate in foreign currencies to overseas institutions 

• Extended hours vs. online or branch initiation, which allows for repetitive or free-form transactions 

• Security via segregation of duties: initiation/confirmation 

The District sets up this service via a "Security Procedure Authorization for Telephone Transfers with 

PINs Agreement." For security, users will be assigned a user ID and PIN for initiation and/or 

confirmation, along with a PIN Activation code. Users call a Voice Response Unit system (VRU) to 

confirm PIN activation, change that to a PIN of their choosing, and then can initiate and/or confirm 

wires. 

For wire initiation, callers will be prompted to enter and verify their user ID and PIN using a touch-tone 

telephone keypad. Once the system has validated the security codes, users will be prompted to enter 

and verify the debit account number. For repetitive wires, users may complete transactions via selfservice 

options or by speaking to an operator. Free-form wires will be completed by speaking to an 

operator. 

For callback/confirmation phone calls, a J.P. Morgan operator will contact users and transfer them to 

the telephone system. Users then will be prompted to input the debit account number and numeric 

PIN using a touch-tone telephone keypad. The telephone system will transfer users back to the 

original J.P. Morgan operator to complete confirmation of the wire transfer request. 

Initiation via the Internet — J.P. Morgan ACCESS 

With J.P. Morgan ACCESS, the District enjoys the flexibility of payment initiation via the Internet with 

confidence that its multi-layer security system is designed to protect the privacy and authenticity of 





users, data and transactions. The District maintains local control over user access to functions and 

accounts using the maintenance features of J.P. Morgan ACCESS. 

With the Funds Transfer Initiation module, the District can: 

• Combine U.S. dollar and multicurrency payment activities using repetitive and free-form formats 

for accounts at J.P. Morgan and other financial institutions 

• Enter book transfer, Fedwire, CHIPS, drawdowns and multibank payment instructions through a 

single screen 

• Initiate U.S. dollar transfers up to 15 business days prior to the effective date with future-date 

capability 

• Import transactions from ’s accounting systems using the wire import facility, which supports 

Bank-defined comma-delimited files for streamlined integration 

• Create check and draft payments 

• Generate drawdown transactions against pre-established accounts 

• Establish foreign exchange settlements 

J.P. Morgan ACCESS makes wire transfers simple. 

Figure 11 

For control purposes, user entitlements are established by the District’s system administrators. Users 

may be authorized to add, modify, delete, approve and/or release wire transactions. User 

entitlements can even differ for repetitive vs. non-repetitive transactions. For a process that 

specifically meets company policies and operational needs, these features enable the District to 

balance desired efficiency against needed controls. 





Transactions can be entered as either free-form or repetitive transactions. For free-form transactions, 

all beneficiary and bank routing information must be entered each time. Repetitive lines contain the 

complete banking information and beneficiary name and only the payment amount and value date 

need to be entered. 

There are two types of repetitive lines, bank verified and customer verified. Bank verified lines are 

established on the Bank’s back office system, typically in 24 to 48 hours. The control benefit of bankverified 

transfers is that changes cannot be made to the bank routing information. Customer verified 

transactions are different in that, while past transaction routing information is saved, it can be altered. 

A customer verified line could be thought of as a saved “free-form” transaction. 

The District can establish separate controls and dollar thresholds for control purposes when granting 

user privileges to tailor user rights. 

Additionally, various reports are available via J.P. Morgan ACCESS to assist with tracking the status 

of the District’s transfers. These include: 

From Funds Transfer Initiation and Reporting (for on-line initiated transfers only): 

• Status Report: Same-day and historical summary level transaction information based on transfer 

status: Entered, Approved, Released 

• Pending Approval Report: Summary-level transaction information for transactions with the 

status “Entered” 

• Pending Release Report: Summary-level transaction information for transactions with the status 

“Approved” 

• Transaction Detail Report: Same-day and historical wire transaction detail and status; 

confirmation number will be included for wires with the status “Released” 

From Cash Balances and Transactions Reporting (for both on-line and telephone initiated wires): 

• Balance and Transaction Summary Report: Daily balance information, including closing 

ledger, collected, same-day available balances and total amounts for debits and credits posted to 

the account, followed by a listing of debit and credit activity for the day. A brief description is 

provided for each transaction. This report covers both J.P. Morgan accounts and other financial 

institution accounts worldwide. 

• Balance and Transaction Detail Report: Daily balance information, including closing ledger, 

collected and same-day available balances, plus total amounts for debits and credits. In addition, 

month-to-date, previous month and year-to-date averages are provided, as well as a 

comprehensive listing of credit and debit activity for the day. Detailed descriptions for each J.P. 

Morgan transaction are displayed and may also be included for accounts at other financial 

institutions if provided by that institution. This report covers both J.P. Morgan accounts and other 

financial institution accounts. 

13.82 How and when is the District notified of a failed wire transfer? 

In the unlikely event of J.P. Morgan's processing error, J.P. Morgan will arrange for proper value of 

the funds transfer without cost to the client. 

Upon receipt of rejected wire, The Bank’s Client Service Investigations Team will process and recredit 

your account same day. Clients may view the re-credits through SWIFT and J.P. Morgan’s 

proprietary intra-day and end of day electronic statements. We offer alerts notifying clients about FED 

and CHIPS returns to their accounts. For certain methods of payment initiation, clients are 

automatically notified or contacted concerning returns by our Service team. 





13.83 Describe the most recent major hardware and/or software upgrade. 

J.P. Morgan is continually working to enhance our payments processing, client service, payment 

initiation and information reporting platforms. We have recently introduced, or have plans to introduce 

in the near-term, a number of products and services that reinforce our position as the leading provider 

of innovative, flexible and efficient payment solutions. 

• J.P. Morgan is continuing to invest in our Extended Remittance Information (ERI) capabilities. 

The Federal Reserve Bank and The Clearing House implemented payment format enhancements 

in November 2011 which support additional fields to carry up to 9,000 characters of payment 

remittance detail, J.P. Morgan implemented origination and reporting via internet based services 

in November 2011. In 2012 our host to host delivery channel will be enhanced to carry ERI data 

in a BAI information reporting file format. 

13.84 Does the wire transfer system reside on the bank's central computer system? Do customers interact with 

that system? 

The wire transfer system resides on one of the bank’s central computer systems. Clients interact with 

our various access mechanisms, not with the central computer system directly. 

13.85 How the customer's access to the bank's wire transfer systems controlled? 

J.P. Morgan ACCESS allows the District to designate the rights of each user on the platform. 

Services available on the portal accommodate a wide range of security options, including requests for 

multiple transaction approvals, demands for separate “enter” and “release” functions for users, dual 

control among users, and daily or transaction limits. 

The District’s security administrators are the only individuals able to assign users with transaction 

initiation privileges. 

13.86 Does the bank offer its customers dual control release options (intermediary approval level) for 

electronically initiated transfers? If so, describe. Is this required for repetitive wire transfers? 

Matrix Approval 

This service enables significant customization of the payment approval workflow in Funds Transfer 

Initiation to reflect authorizers’ signatory limits. 

Matrix Approval can be used for tasks as simple as adding an additional approver, to creating 

complex sets of rules for a board resolution requiring a number of different signers based on 

transaction amounts. The service enables the creation of different approval rules for different 

accounts, payment types, initiation method and even beneficiary, as well as by payment value. 

Furthermore, the District can set the order in which approvals should occur and can require up to nine 

approvers. 





As an additional off-line control, the District can also use Matrix Approval to determine the maximum 

value of a payment that can be sent through J.P. Morgan ACCESS. 

Even where Matrix Approval is not required for signing needs, it can be used to: 

• Reduce the amount of time senior management spends on approving payments 

• Help call attention to high-value or higher-risk payments during authorization 

• Add flexibility and control to payment initiation as part of a compliant and efficient process 

The District’s security administrators create groups of approvers with equal signing authority levels. 

They then define the rules of the payment approval process at an account, amount, payment method 

or repetitive template level by assigning one or more of these approval groups. The system then 

routes payments for authorization as appropriate. 

13.87 Is security the same for repetitive and free form wires initiated by all of the methods listed above? If not, 

how does it differ? 

Yes. 

13.88 Are security access codes (passwords) encrypted or authenticated? Is an Audit Report available 

showing all activity over a given period, including User ID, date and time? 

Security access codes are not encrypted or authenticated. Authentication occurs when payments are 

released to J.P. Morgan. 

J.P. Morgan ACCESS makes available to the District a variety of audit reports that detail information 

on each user: 

• Operator Matrix Report: This details all functions and accounts assigned by the security 

supervisors. 

• User Access Report: This lists the last date and time each user has accessed the system. 

• Operator Login Report: This details the number of successful and unsuccessful logins and 

logouts with the corresponding dates and times for each operator for a specific date. 

• Operator Log Report: This reports all transactions created, modified, approved, released and 

deleted for each operator for a specific date. 

13.89 Can limits by user and function be established for single transaction amounts and daily aggregate 

amounts? 

The District’s security administrator can restrict users from the following functions: 

• Debit Account 

• Repetitive Only 

• Data Enter Only 

• Approve Only 

• Inquiry Only 

• Daily amount limit 

• Deletion authority 

• Modification authority 

• Release amount limit 

• Release authority 





• Transaction amount limit 

13.90 Can District create repetitive transactions online? What approvals are required? 

J.P. Morgan provides the following options for establishing repetitive transfers: 

• Internet: Clients can input new, automated, repetitive wire transfer instructions via 

J.P. Morgan ACCESS. 

• Electronic transmission: PaySource clients can establish repetitive lines that will be stored on 

J.P. Morgan’s mainframe. 

• Mail: Written requests for repetitive line setup are handled on an exception basis. 

• Other: Clients who initiate wires via telephone can establish repetitive lines that will be stored on 

J.P. Morgan’s mainframe. 

Additionally, in J.P. Morgan ACCESS, a free-form transfer can be copied and saved as repetitive. 

13.91 What controls has the bank put in place to prevent wire transfer fraud? What has been the bank’s 

experience with fraud in the wire transfer area? 

All wholesale financial messages transmitted through a telecommunications link to or from a 

J.P. Morgan financial application must be properly authenticated. All message authentication 

measures and products must conform to approved American National Standards Institute (ANSI) 

standards. Key management process must be employed and must conform to approved American 

National Standards Institute (ANSI) standards. 

To prevent unauthorized or fraudulent transmission of payment instructions, J.P. Morgan requires that 

authentication be employed on all value-bearing transactions electronically transmitted to the bank. 

Encryption will be implemented based on the client’s request. 

Authentication is mandatory regardless of which avenue your company uses to deliver the payment 

files. 

Message-Level Authentication — Symmetric Key 

Authentication helps ensure the integrity of the data by making any alteration of the data conspicuous 

by using a message authentication code (MAC). The MAC is a cryptographically derived number that 

is calculated based on a confidential key known only to the parties involved in the transmission and 

the Data Encryption Standard (DES) algorithm. The MAC is calculated using all data contained in the 

message: numeric, text and punctuation. Authentication does not modify the text of the message. 

Instead, the MAC is added to the message in a predetermined location, resulting in an authenticated 

message that can pass through the same communications equipment or network that handles 

unauthenticated messages. 

Upon receipt of the data by the bank, the MAC is recomputed and compared to the MAC sent with the 

data. If they are equal, J.P. Morgan can be assured that the data were sent by an authorized sender 

and were not altered. Authentication does not make the file unreadable, only unalterable without 

detection. 

Digital Signature Authentication for Communications via the Internet — PKI Data Security 

J.P. Morgan employs Public Key Infrastructure (PKI) security for communications via the Internet 

(through EC Gateway) to the bank. PKI digital certificates provide authentication, confidentiality, nonrepudiation 

and data integrity. A combination of public and private keys is used to keep data secret. 





J.P. Morgan currently supports two PKI software solutions: Entrust, version 5.0 and Templar, version 

4.0. Both packages offer message authentication and encryption. Entrust, coupled with File Drive, is 

generally used for secure FTP transmissions; Entrust or Templar can be used for SMPT 

transmissions. Through the use of digital signatures, unique encryption and message authentication 

keys, J.P. Morgan is able to verify the validity and integrity of the file delivered. 

Clients choosing to use DES-based authentication for communications via a leased line, VAN, or 

async or bisync communications generally use DESCRYPT/EDI+ software available through 

Peregrine Systems/Prime Factors, or SecureAccess2000 available through bTrade.com. 

As an added measure of verifying accurate file transmissions, clients using EDI file formats may 

choose to send an 831 message type that contains transaction and amount totals. J.P. Morgan will 

hold an 820 payments file until the corresponding 831 is received and verified. This is an optional 

service provided by J.P. Morgan. 

Encryption 

Encryption of data is recommended but not required by J.P. Morgan and may not be used as a 

substitute for authentication. Encryption is a method of helping ensure the confidentiality of data. It 

does not provide detection of accidental or deliberate alteration of messages. Encryption converts the 

text of a message from plain text into a coded form that cannot be read without knowledge of a 

confidential key known only to the sender and the receiver. Encryption adds another level of security 

for clients that do not wish to risk their payment instructions being read by an unauthorized party. 

13.92 On what basis does the bank calculate daylight overdraft positions? 

Daylight overdrafts are referenced in the context of intra-day credit line (IDL) or intra-day liquidity (Fed 

daylight overdraft) usage. At J.P. Morgan, both daylight overdrafts are calculated on a minute by 

minute basis. 

13.93 Describe measures to assure that the District will not be charged for overdrafts due to bank delays in 

posting investment income, incoming wires and other credits. 

J.P. Morgan does not charge for either intra-day credit (IDL) or intra-day liquidity (Fed daylight 

overdraft) usage arising in the context of normal clearing activities at this time, which is current 

market practice. 

13.94 Transaction Research: 

13.95 Does the bank adjust the deposit amount or process an adjusting debit or credit? The District requires 

supporting documentation on any debit or credit correction memo. 

J.P. Morgan’s standard practice is to credit the District for the dollar amount reflected on the deposit 

ticket or in the electronic file. If an adjustment is warranted once the deposit is verified, the adjustment 

amount is then posted to the District’s account as a correction item. 

J.P. Morgan provides a report that includes the deposit ticket date, credit date, verified date, declared 

deposit amount, verified deposit amount, denominational breakdown and any adjustments along with 

the associated reason code. 

13.96 Within what time frame can the bank provide requested copies or documentation? What delivery options 

are available? 

Below we have outlined J.P. Morgan’s standard procedure for reporting deposit adjustments and 

options available (e.g., electronic reporting with location ID attached, adjustment copies to multiple 

locations). 






The standard delivery method for cash adjustment advices is the U.S. Postal Service. J.P. Morgan 

mails adjustment advices within one business day of verification. The Bank mails the advice to the 

address listed on the deposit ticket. The store/location number can be included on the adjustment 

advice. The Bank is not able to mail an adjustment advice to an alternate address, nor can it send 

copies to multiple addresses. 

J.P. Morgan also posts the adjustment to electronic information reporting and the bank statement as 

a deposit credit or debit adjustment with the dollar amount and store location number. 

Electronic Check Deposits via Image Deposit Direct (IDD) 

J.P. Morgan prints an image quality failure document if image quality does not meet acceptable 

standards. The Bank mails it to the District. The District may then either deposit the original item or 

rescan and resubmit another image. J.P. Morgan can mail the image quality failure document to the 

same address as the statement or to an alternate address. The Bank also notifies ICL clients via e- 

mail for any images that do not meet acceptable image quality standards. Client services officers 

notify IDD clients. 



deposit ticket. The store/location number can be included on the adjustment advice. J.P. Morgan can 

mail a second copy of the adjustment advice to an alternate address. Overnight delivery is also 

available. 

The Bank posts the adjustment to the District’s account and reports it – through electronic information 

reporting tools and on the District’s bank statement – as a deposit debit adjustment with the dollar 

amount and store location number. 




deposit ticket. The store/location number can be included on the adjustment advice. The Bank can 

mail a second copy of the adjustment advice to an alternate address. 

The Bank posts the adjustment to the District’s account and reports it - through electronic information 

reporting tools and on the District’s bank statement - as a deposit debit adjustment with the dollar 

amount and store location number. 


The standard delivery method for adjustment advices is via U.S. Postal Service. Within one business 

day of verification, J.P. Morgan mails adjustment advices to the address provided. The store/location 

number can be included on the adjustment advice. The Bank is not able to mail an adjustment advice 

to an alternate address, nor can it send copies to multiple addresses. 

The vault also offers the following notification options to supplement the paper advice: 



• Fax: next-day notification for all deposits and adjustments processed during the prior processing 

day. 

• Phone: notification by noon the following day for all adjustments greater than $100. 







J.P. Morgan also posts the adjustment to electronic information reporting tools and the bank 

statement as a cash credit or debit adjustment with the dollar amount, store location number, original 

deposit amount, original deposit date, processing vault ID and adjustment reason. 

Each depository channel - branch, check and vault - charges a fee for each deposit adjustment 

processed and mail advice created. This fee may differ depending on which operational area created 

the deposit adjustment. The unit of measure is per adjustment. 

13.97 Disaster Recovery and Control: 

13.98 Describe the bank’s electronic data procedures and/or manual system used to provide banking services 

along with backup and recovery capabilities. 

As an integral part of normal business operations within J.P. Morgan every manager in the firm is 

responsible for developing and maintaining resiliency plans as part of the firm wide Resiliency 

Management Program, part of the firm's Global Resiliency and Information Technology Risk 

Management department. 

Resiliency activities of J.P. Morgan must comply with and are governed by several agencies that 

have laws, rules and regulations. Within the firm's policy, requirements have been defined for each 

critical business process to provide essential business and technology service levels to comply with 

resiliency requirements of the Office of the Comptroller of the Currency, the Federal Financial 

Institutions Examination Council and regulatory agencies within the different geographic regions. 

Resiliency planning is also commonly referred to by terms within the industry as business continuity, 

disaster recovery and contingency planning; they all represent the process whereby financial 

institutions ensure the maintenance or recovery of operations and service to their clients. 

Resiliency plans must explicitly address the business, operations and technology components of a 

business process, including those critical processes and functions provided by outside service 

providers and industry utilities. Contingency locations are an integral part of resiliency planning. In 

combination with the firm's testing program the locations ensure that the business resiliency plans 

remain accurate, relevant and operable to minimize disruption to our clients. Critical resiliency plans 

are tested annually, at a minimum, to verify the effectiveness of alternate locations and to 

demonstrate that the plans remain accurate and executable. 

J.P. Morgan resiliency plans are subject to reviews by J.P. Morgan’s Internal Audit Department and 

the Resiliency Risk Management group, which acts as the firm’s governing body for Business 

Resiliency measures. The plans must address and comply with documented organizational 

requirements. All findings are escalated to the business units, Risk Management and division 

executive for review. The firm's Board of Directors reviews the status of the overall resiliency program 

on an annual basis. 

J.P. Morgan exercises commercially reasonable efforts to ensure that the firm meets our obligations 

to you and to all of our clients. The firm's resiliency program provides comprehensive business impact 

analysis, risk assessment, resiliency planning and testing to ensure we can manage our risk and our 

clients risk within a reasonable time period. 

An overview of “TSS Business Resiliency” summary is provided for your review in Appendix 7. If you 

require more detail regarding our business resiliency planning methodology, we will be pleased to 

arrange a meeting for you with members of our business resiliency staff. 





J.P. Morgan’s global footprint provides built-in redundancy for many core processing, operations and 

service delivery functions. J.P. Morgan has strategically located data centers and operation centers 

throughout the world. This geographic distribution helps to reduce the impact of a local disruption on 

our business. Each location has at least one defined and tested recovery site with connectivity to 

applications and a tested plan for relocating to the alternate site and resuming business. 

Further minimizing the likelihood of a full-scale business disruption, J.P. Morgan’s data centers and 

data storage procedures have been designed to minimize the likelihood of a disruption in the event of 

a disaster: 

• Data centers have on-site backup processing resources to address local equipment issues. 

• Data centers and major operations facilities are designed to receive electrical power from two 

separate substations and are also equipped with backup power generation and surge 

suppression systems. 

• Buildings feature stringent physical security, using highly sophisticated systems to prevent 

against and detect fire, smoke, water and intrusion. These measures help to reduce the risk and 

minimize the consequences of these events. Each building is secured, requiring electronic ID 

cards for access. In addition, a trained and equipped security staff provides 24-hour coverage. 

• In major facilities, telephone service is delivered from two separate switching stations and 

delivered to the building so that an interruption to one of the switching stations would not affect 

the entire building’s workspace. 

J.P. Morgan maintains a proprietary telecommunications network across our global operating facilities 

and data centers, which is designed to maintain communications in the event of a disaster. We have 

redundant components for each connection (e.g., routers, switches, etc.) which allow us to 

immediately correct device failures. We have configured our network with multiple diversely routed 

paths that allow us to re-direct traffic in the event of a disruption. This enables us to revert to 

additional options in the event of a provider outage. 

13.99 Where are the bank’s off-site facilities located? 

Due to the sensitive nature of this information, J.P. Morgan does not release specific details on the 

location of primary and backup data centers and processing sites. 

13.100 How quickly can the "hot" site be implemented in case of an emergency? 

Each J.P. Morgan business unit performs a formal Business Impact Analysis (BIA) to assess the 

operational, financial and reputational impact of a service disruption on clients and the firm. The 

results of the business impact analysis are used to determine the criticality of the function and the 

corresponding recovery time objective. 

Recovery time objectives and service levels vary based on criticality of the specific business function. 

For our most critical functions, we apply a two-hour recovery time objective for full resumption of 

normal operations. For other functions, we apply recovery time objectives ranging from 2-73 hours. 

For the least critical functions, we apply a recovery time objective of 73 hours, which results in those 

business functions deferred and/or suspended. 

Business and support group areas must identify their requirements based on their process capacity 

needs to address a loss of an entire zone for a minimum of 30 days. This enables businesses and 

support groups to stage their recoverability over that time period. 





13.101 Provide a detailed description of the controls in place to insure the integrity of the funds transfer system. 

Generally, data is replicated to an application's disaster recovery database servers in a real-time or 

near real-time fashion so the firm is prepared for potential outages. When required to retain data for 

considerably longer times due to regulatory reasons, backup tapes are retained as required for that 

application. 

Within our core data centers, data is backed up on a frequency determined by the application and 

business recovery time objective. For the most critical applications, the data is mirrored real time and 

minimal to no loss of data would be expected. 

Additional information on controls in place to insure the integrity and prevent fraud of the funds 

transfer system can be found in Section 13.91. 

13.102 How will the bank assist the District during a disaster, i.e. backup plans for direct deposit of payroll? 

J.P. Morgan will work with the District to restore previously received transmitted files. This data can 

be reprocessed with appropriate approvals as is without changes to assist with the client needs. 

Further discussions and procedures can be made during the implementation process. 

13.103 Describe the types of insurance and bonding carried. 

Coverage: Workers’ Compensation & Employers Liability 

Risks Covered: All compensation and other benefits required by state law and all sums the insured is 

legally obligated to pay because of bodily injury by accident or disease. 

Carrier: Liberty Mutual Corporation 

Levels/Limits: WC- Statutory 

EL-$1,000,000 

Policy Period: 04/01/12 – 04/01/13 

Coverage: Commercial General Liability 

Risks Covered: Sums which the insured is obligated to pay due to third party bodily injury and 

property damage claims arising out of the conduct of the insured’s business. 

Carrier: Liberty Mutual Fire Insurance Company 

Levels/Limits: $5,000,000 Combined Single Limit 

Policy Period: 04/01/12 – 04/01/13 

Coverage: Bankers Professional Liability (bonding information) 

Risks Covered: Bankers Professional Liability coverage indemnifies against loss arising from claims 

of alleged wrongful acts committed in the performance of professional services. 

Carrier: Park Assurance Company 

Levels/Limits: $100,000,000 

Policy Period: 01/15/12 – 01/15/13 

Coverage: Financial Institution Bond / Electronic and Computer Crime (Bankers Blanket Bond 

Form 24 [Amended]) 

Risks Covered: Loss of money/securities plus other properties resulting from employee dishonesty, 

robbery, burglary or mysterious disappearance; loss of accepting forged or counterfeit checks and 

securities; a third-party interloper who accesses a computer where JPMorgan Chase is held liable. 

Carrier: Park Assurance Company 

Levels/Limits: $300,000,000 

Policy Period: 07/01/11 – 07/01/12 





13.104 Online Access: 

13.105 Will the account reporting system provide beginning and ending ledger (book) balances, collected 

balances, available balances, and float assignment as well as transaction details for both current and 

prior days? 

J.P. Morgan ACCESS combines powerful Web-based cash management tools to provide the District 

with a secure reliable single point of access to a wide range of financial transactions and account 

services, including trust, custody, trade and treasury management applications. Whether your cash is 

in one or multiple accounts located locally or worldwide, J.P. Morgan ACCESS puts critical cash 

management information and tools at your fingertips and the unparalleled experience and backing of 

J.P. Morgan at your service. 

The District can utilize J.P. Morgan ACCESS to make informed cash management decisions. J.P. 

Morgan ACCESS cash management applications integrate payments, investment, inquiry, and 

information delivery tools in a seamless online environment. 

As a leading provider of global electronic banking services, J.P. Morgan actively invests in 

technologies and supports strategic products that meet the needs of a diverse worldwide client base. 

As a key player in financial networks worldwide, J.P. Morgan offers the access and flexibility the 

District needs to transact business. J.P. Morgan ACCESS is a key system that is utilized by our 

customers and it is described in further detail below. 

J.P. Morgan ACCESS Services 

Reporting Services 

Initiation Services 

Inquiry Services 

• Cash (including balances, transactions, multibank, checks paid, 

lockbox, controlled disbursement funding) 

• Disbursement 

• Funds transfer 

• Cash concentration 

• Audit 

• Search and sort facilities that allow clients to pinpoint transactions 

and manage data effectively 

• Export features to facilitate data integration with client accounting 

and decision-support platforms—data from cash reporting is 

available for export 

• Custody and investment reporting options 

• ACH 

• Wire (J.P. Morgan and multibank) 

• Additional inquiry facilities for check disbursement services are 

available in the J.P. Morgan ACCESS Payables Web Services 

module. 

With an online system like J.P. Morgan ACCESS, the District will have the flexibility of assigning 

multiple users to the system, while maintaining security features such as dual authorization capability 

and by-account access restrictions. The District will choose its own Security Administrators (SAs). 

The SAs will be able to manage the District’s users and access. There is no limit to the number of 

users that can access the application simultaneously. 





J.P. Morgan ACCESS provides the District with the efficiency of a single “Dashboard” from which 

authorized users can access the accounts and applications to which they have been entitled using 

their User ID and password. 

J.P. Morgan ACCESS Dashboard shows the variety of modules available in the menu list in the left 

column. 

Figure 12 

Modular systems like J.P. Morgan ACCESS can be deployed to meet the District ’s specific treasury 

needs and can be modified to allow access to multiple products as your needs evolve. You will be 

able to view timely information, initiate transactions, and make inquiries through one consolidated 

window. J.P. Morgan ACCESS integrates the various TSS information delivery, investment and 

transaction services, as well as inquiry tools into a single online portal. 

13.106 How often are current day balances and transaction detail updated? What other current-day reporting 

items are available through the reporting system? 

Depending on the account type being reported, current-day information is generally available 

beginning at 12:01 a.m. ET. Information generally is available within 10 minutes of receipt or creation. 

J.P. Morgan provides updates throughout the business day for established accounts. Current-day 

information is available, based on the operating area of the bank, for funds transfer, letters of credit, 

securities and deposit transactions. 

Wire transfers are updated in near real-time. Other types of transactions updates are available as 

follows. 





13.107 Can multiple users access the information? If so, can the bank restrict users to accessing only portions 

of the information? Please describe the administrative functionality that is available to the School 

District? Can the District add users? 

Yes, multiple users can utilize J.P. Morgan ACCESS. For control purposes, user entitlements are 

established by the District’s system administrators. Users may be authorized to add, modify, delete, 

approve and/or release wire transactions. User entitlements can even differ for repetitive vs. nonrepetitive 

transactions. For a process that specifically meets company policies and operational needs, 

these features enable the District to balance desired efficiency against needed controls. 

13.108 Are ACH returns and ACH Notifications of Change available? 

Yes, via J.P. Morgan ACCESS Special Reports, an electronic version of paper reports includes a 

Returns and Exceptions Report. The Report provides detailed information on your return items, 

including check returns, Automated Clearing House (ACH) returns and ACH notification of changes 

(NOC). 

13.109 Can account analysis detail be downloaded into excel from your system? If not, can it be provided as a 

monthly transmission? 

Account Analysis statements can be delivered via paper, online via the J.P. Morgan ACCESS portal 

and electronically via EDI 822 file format. 

J.P. Morgan supports 822 EDI version 4010, which can be delivered via: 

• Direct Transmission – the monthly file is available by the 6 th business day for download once a 

secure FTP connection has been established. 

• Secure E-Mail Distribution – an embedded link within a secure e-mail can be used to download 

the file via a Web browser. 

All sections of the Account Analysis statement may be viewed, printed and exported through the 

Electronic Statements module. Up to 13 months of statements are made available online. 

13.110 Can balances and transaction detail be downloaded from the system? In what formats (pdf, html, csv, 

excel)? 

The District may export and integrate balance and transaction information from the 

J.P. Morgan ACCESS Cash Balance and Transaction Reporting module in the following formats into 

other systems and applications: 

• Adobe® Acrobat® (PDF)–formatted reports. 

• Export files in comma-delimited (CSV), BAI2, Microsoft Excel and MT 940 formats. 

In addition, if the District desires a transmission directly to internal systems, J.P. Morgan can provide 

a direct transmission of historical data in BAI2 format. This facility, separate from the Bank’s online 

product, is typically requested for large-volume accounts. 

13.111 What time each day is the data available? 

Previous-day information is available 7:00 a.m. ET. 

13.112 How many business days is data stored on the reporting system and available for the District to access? 

J.P. Morgan ACCESS offers 45 calendar days of account balance and transaction data. Upon 

request, the system can store 90 calendar days or one year. 

Please refer to Appendix 11 for “J.P. Morgan ACCESS Sample Reports.” 





13.113 What technical specifications will be required for District employees to access the system? 

J.P. Morgan ACCESS supports the operating systems listed below. J.P. Morgan weighs many factors 

when deciding which versions to support. For optimal performance on J.P. Morgan ACCESS, the 

Bank requests that the District confirms that its systems meet the recommended hardware and 

software standards. Otherwise, performance likely will be affected. 

Use the following checklists to validate the District’s technology environment for potential users of the 

current J.P. Morgan ACCESS and the next generation systems. 

J.P. Morgan ACCESS Specifications 

System 

Operating 

System 

Browsers 

Other Software 

Workstation 

Processor 

Physical RAM 

Installed 

Hard Drive 

Capacity 

Communications 

Monitor/ 

Resolution 

Requirements 

Microsoft Windows 7, Windows Vista Business (32-bit) or Windows ® XP (SP3) 

Note: J.P. Morgan ACCESS does not support Apple MAC computers 

Microsoft Internet Explorer ® (IE) 9, 8 and 7 browsers (128-bit encryption level) 

Recommended: Microsoft Internet Explorer 8 

Note: IE8 users may need to turn ON “compatibility view” mode for certain applications 

or by adding “jpmorgan.com to Compatibility View Settings, under Tools. 

Note: IE8 users should activate the “Smart Screen Filter” (under Safety button) for added 

security. 

Note: The browser must allow “cookies” to be created and retained on the workstation. 

- Adobe ® Reader ® 9.0* and above 

Reader is used by several J.P. Morgan ACCESS products, including: Benefits Payments, Cash 

Balances and Transactions Reporting, eServe SM , Receivables Edge SM , Payables Web Services 

and Views Portfolio Reporting. 

- Oracle Java TM Plug-in version 6 updates 20 thru 30* 

Java is used for the following products: Accounting Reporting 4.1 (Apollo), ACH File Warehouse, ACH 

Initiation, Corporate Action Instructions, eServe, Funds Transfer Initiation, Global ACH, Liquidity 

Initiation, Payables Web Services, Receivables Edge, Supply Chain Finance, TITAN Online and 

Transaction Initiation. 

Recommended: Sun Microsystems® Java® plug-in version 6 update 30** 

- Adobe Flash ® Player 9.0* or later for Online Training and Views Portfolio Reporting 

- Compression software (WinZip ® , etc.) for clients who have elected Cash Reporting file 

export 

- Microsoft Excel® 2003 or above for clients using Cash Balances and Transactions 

Reporting to export data using “CSV Unicode”, which supports multi-byte characters. 

Note: Installation of software/plug-ins may require administrative rights on a workstation. 

Best Practices: Use workstation dedicated to internet banking (not for e-mail or web browsing). 

Use workstation NOT shared by public, such as at library or internet café. 

Recommended: 1.2 GHz or higher 

512 MB RAM minimum – users will see better performance with higher levels of RAM 

Recommended: 1GB RAM or higher (Windows 7 requires at least 1GB) 

300 MB available free space (minimum) 

Recommended: 500 MB or higher 

High speed Internet connection with company and/or personal firewall 

SVGA 1024 x 768 resolution, 256-color (minimum) 

Click here 

to turn ON. 





J.P. Morgan ACCESS Specifications 

System 

Spam Blocking 

Important 

Requirements 

Please check with your company’s technical support department to ensure the following e-mail 

addresses are not blocked for the following services: 

ACCESS Security Administration jpmorgan.access@jpmchase.com 

Cash Reporting Scheduler IMSD.Security.Operations@jpmorgan.com 

gca_technology_production_operations@jpmchase.com 

Corporate Action Instructions cai@jpmorgan.com 

Statements: 

Account Analysis 

tsbilling@jpmchase.com 

PAM 

espmail@ebpp.chase.com 

Payables Web Services: 

ACH Exception Availability AchPWS@jpmorgan.com 

Positive Pay 

PositivePayPWS@jpmorgan.com 

Reverse Positive Pay 

ReversePositivePayPWS@chase.com 

Internet File Delivery (IFD) ReconciliationsPWS@chase.com 

Receivables Edge Alerts Receivables_Edge@jpmchase.com 

Views Portfolio Reporting ViewsEmailNotification.DoNotReply@jpmorgan.com 

J.P. Morgan strongly recommends user workstations are regularly updated with Windows and 

Internet Explorer security updates. Regular virus scans should be completed as well. 

*Available on the J.P. Morgan ACCESS Downloads page 

** Note: Java 6 updates 20-30 are recommended as Oracle states security issues were found in updates 14 – 30 

13.114 Is specific software required to communicate with the bank’s system? 

No specific software other than the browser requirements detailed above is required. 

13.115 Image Services: 

13.116 Describe the bank’s current image processing capabilities. 

We suggest that the District utilize our Payables Web Services (PWS) that provides online image 

history inquiry for seven years. 

PWS provides an advanced upfront check search functionality that provides the District with the 

complete status of each check. The District can perform single and range-based searches by account 

number, check number and amount, sequence number, paid and issue date and payee name. The 

results tell you whether the check is still outstanding, has an active or revoked stop, is canceled 

(voided), was returned or has paid. 

Additionally, batches of images can be requested in an offline request mode for more efficient 

origination of larger numbers of requests. 

Check images are available the same day the check is presented. 

PWS is more efficient than paper or even CD-ROMs, especially when retrieving information quickly. If 

required, CD-ROMs can be supplied five business days after the District’s specified cut-off. 

• With PWS, retrieval time is measured in seconds and minutes, compared with hours or even days 

for physical retrieval, and the quality of the reproduced image is extremely clear (see image 

example below) 

• CD-ROM output provides long-term historical storage 

• For high volume check disbursements clients, image transmissions provide fast automated image 

files directly transmitted to your internal check archive 





Payables Web Services (PWS) – Check Image Service 

Check images of paid items will be available to the District online through Payables Web Services 

(PWS), the disbursement module of J.P. Morgan ACCESS SM . This browser-based solution enables 

the District to retrieve check images for all applicable accounts without waiting for a photocopy or CD- 

ROM to arrive. 

Images are available online the day checks are presented for payment; users enter various search 

criteria and cut and paste paid check images. The solution also offers a number of viewing functions 

(i.e., front and back, zoom, etc.). 

PWS Check Image 

Figure 13 

Long-Term Online Check Image Retrieval 

The District’s authorized users may access paid check images online for accounts to which they have 

the appropriate entitlements and initiate a search using: 

• Account number 

• Check number 

• Paid date 

• Dollar value 

• Payee name 





• Custom search fields chosen by the District, such as general ledger number or vendor number 

PWS displays search results online, allowing a user to select an individual item and view the 

corresponding image. Check images are available the day a check is presented. Images are stored 

and available for online retrieval for a standard period of seven years. 

a. Do they include “on-line” access to return and adjustment images? 

Yes, J.P. Morgan offers images of paid items in different media, depending on your image archive 

preference. 

• Online retrieval via PWS 

• CD-ROM 

• Image transmission 

b. What are the hardware and software requirements for the District? 

As Payables Web Services (PWS) is the disbursement module within the J.P. Morgan ACCESS 

portal, please refer to Section 13.113 for technical specifications required to access the system. 

13.117 Describe images are accessed from CD-Rom? Is there an index function to allow a user to identify when 

CD should be used? 

J.P. Morgan’s CD-ROM viewing software package provides multiple-level search options. If payee 

information is provided, J.P. Morgan places that data on the CD-ROM, and it becomes a searchable 

field within the application. 

Additionally, for sorting and searching, clients can use Payables Web Services to populate up to 10 

client-defined index fields (i.e., payee name, vendor number, GL account number). 

13.118 Additional Services: 

13.119 Include information on any other services currently provided or planned by the bank that may benefit the 

District. 

Based on our initial assessment of the District’s requirements in this RFP, we are pleased to present 

the District with additional services for review and consideration. These services are proposed to 

augment and compliment the requirements included in the RFP. Brief descriptions are included 

below: 

Chase Access Prepaid Payroll Card Program 

J.P. Morgan has tremendous experience in this area and presently provides a variety of card 

solutions for many of the Bank’s government clients. For example, to increase the District’s 

conversion from paper-based processes, such as issuing 

checks, and to reduce payroll processing costs, J.P. Morgan 

recommends that the District consider utilizing Payroll Cards. 

Payroll cards are account based, and offer a low cost solution, 

which is designed specifically for employees who prefer not to 

manage a checking account. 

Chase Access Prepaid offers a turnkey prepaid debit card solution for government clients. The Chase 

Access Prepaid Card program can help the District increase direct deposit rates and save time and 

money, while helping efficiently manage your payment processes. A sample agreement and pricing 

can be found in Appendix 12. 





With the Chase Access Prepaid Card, the District can: 

• Reduce payment processing costs, including those associated with check printing, distribution, 

secure check storage, fraud and escheatment management 

• Expand direct deposit participation to the un-banked portion of your payees 

• Improve productivity by reducing time spend distributing checks 

• Offer a new benefit that saves your employees time and money 

• Use a state-of-the-art, Web-enabled platform to easily manage your Chase Access Prepaid Card 

program. 

The District’s payees can: 

• Obtain immediate access to their funds 24 hours a day, 7 days a week at virtually every ATM in 

the nation, with surcharge-free access at more than 50,000 Chase and Allpoint ATMs in the U.S. 

The card can also be used to make purchases and get cash back at Visa prepaid card retail 

locations worldwide. 

• Avoid time/inconvenience of picking up checks at the office, or waiting for checks in the mail, and 

then cashing them 

• Avoid costly check-cashing fees which can range from 3% to 7% of the check amount 

• Receive the prestige of carrying a Visa-branded card when they might otherwise not qualify, with 

no credit check required 

• Avoid carrying large sums of cash and associated risks 

• Purchase items on the Web or by phone 

• Use the Bill Payment service that allows cardholders to pay bills on-line 

• Experience a higher level of safety with a FDIC-insured account, purchases that are protected by 

Visa Purchase Protection and Zero Liability Policies. 

• Have access to 24 x 7 bilingual customer support and receive assistance whenever they need it 

Enrollment 

J.P. Morgan recommends the use of batch enrollment files as the primary method to exchange 

cardholder enrollment information. Batch enrollment is a fully automated file transfer process for 

account setup (enrollment) activities, such as initial conversion from checks to the Chase Access 

Prepaid Card. Batch enrollment can also be used for ongoing account enrollment and demographic 

updates. The batch transfer process requires no manual entry or intervention to initiate, since this is 

an automated daily process. 

Alternatively, the District can use the Agent Service Center online tool to enroll payees by entering 

payee name, address and security information. The District will receive the payee’s account number 

immediately. The District can also pull up the Customer Profile Report, which contains program 

profile number, cardholder information, account number and account status (active or inactive). 

Once a payee is enrolled, the prepaid card will be mailed directly to the cardholder’s address, unless 

otherwise requested. The cardholder will receive a card carrier with card activation requirements, a 

card user guide, program terms and conditions, and a privacy policy, along with the card. 

Funding 

The District will fund the Chase Access Prepaid Card accounts leveraging your existing direct deposit 

process, with an ACH credit to each individual account. 





Reporting 

The Agent Service Center also provides the District with a number of reports that allow authorized 

users to monitor participation and actively manage the prepaid card program. Standard reports 

include: 

• Customer Profile Report 

• Daily Transaction Report 

• Direct Deposit Information Report 

• Cardholder Status Activity Report 

• Funding Summary and Detail Reports 

• Card Activation Summary and Status Detail Reports 

Check Print Solutions 

J.P. Morgan has been in the print and dispatch business for more than 20 years. Throughout this 

time, we have served the needs of clients across a large number of industries. We offer print-to-mail 

services for checks and advices with file submission through direct transmission or internet upload via 

Payables Web Services. J.P. Morgan offers a solution for generating transactions that will allow the 

District to streamline operations and reduce expense by transferring many of the tasks involved in 

payments initiation and reconciliation from your office to us. 

We also offer solutions for clients to submit consolidated payments files whereby clients can send a 

single file to J.P. Morgan with instructions for wire transfers, checks, ACH and foreign exchange 

transactions. We offer flexible format options that include EDI and proprietary file formats to enable 

efficient interfaces between your systems and our treasury systems. 

J.P. Morgan’s PWS Check Printing platform features include: 

Simplified check templates for accounts payable, payroll, royalty, dividend and Explanation of 

Benefits documents. Use of our simplified templates will offer a quicker and lower cost 

implementation. 

A postal net barcode provides processing efficiencies with the U.S. Postal Service, which translates 

into postal discounts for your mail expense. 

Check paper stock that provides image-survivable security features such as coin reactive mark, 

simulated watermark, and micro-printing. 

Our check print product integrates with our suite of fraud prevention services, whereby we can 

automatically generate and apply check issuance data including payee name to our systems 

eliminating the need for the District to separately submit check issuance data on these transactions to 

the bank. 

Smart Safe 

We propose the District consider Smart Safe with Advanced Credit to help improve your daily cash 

flows. Our virtual vault incorporates U.S. dollar validation, counterfeit detection, secure storage and 

software capabilities, while providing full reporting to your armored courier, schools and the District’s 

administration office. 

How does it Work? 

Place your currency in the Smart Safe secure bill validator throughout the day. At the end of the day, 

the balance is validated and transmitted electronically from the Smart Safes to your armored vendor. 





The armored vendor will consolidate – by account number – cash that was placed in the Smart Safes 

in all of your locations, and transmit the information electronically to us. 

We credit your account with your advanced credit, which you can view the following morning via J.P. 

Morgan ACCESS or your BAI reporting file. 

Deposits are applied at either the account level or unique login identification (ULID) level, depending 

on what information is included in your vendor-prepared file transmission. 

Advanced credit applies only on currency deposited in the safes. Checks and coin can be deposited 

in the safes with deposit tickets and you receive credit on these funds once the armored carrier 

physically collects them and transports them to a J.P. Morgan vault. 

We will provide same day credit for all currency deposits that we receive confirmation of from the 

armored carrier by 5:00 p.m. ET. So if the armored carrier is collecting the deposit information and 

sending a transmission file to J.P. Morgan, we recommend that the District ask the vendor to send 

that file to J.P. Morgan by 5:00 p.m. PT. 

The District will see a separate daily deposit on J.P. Morgan ACCESS for each Smart Safe. Each 

safe will be identified by a unique location identification number (ULID). 

Features and Benefits 

• Improve cash flow with daily credit for currency placed in Smart Safes, without making a physical 

deposit to the bank 

• Lower costs by reducing daily armored service pickups to every fourth day 

• Virtually eliminate deposit adjustments 

• Save time in preparing and managing currency deposits 

• Mitigate opportunity for theft and provide added security 

• These and other efficiencies can help your school managers eliminate time consuming deposit 

preparation – freeing them to spend more time to focus on other tasks 

• The District can further reduce costs by scheduling armored service pickups to occur every third 

or fourth day 

J.P. Morgan is unique in the marketplace with piloting same-day credit for Smart Safe clients with all 

three national armored vendors, Brinks, Garda and Loomis. The District may lease a Smart Safe from 

these vendors and request J.P. Morgan to apply daily credits for currency deposits into the safe. 

Our transactions are communicated and posted automatically and transactions are reconciled 

systematically to provide a seamless and consistent product delivery to our clients, regardless of 

vendor. 

Regional Wholesale Lockbox 

Regional Wholesale Lockbox is a service that would increase the speed of your collections and 

posting process as well as minimize the time for collections. The School District of Palm Beach 

County would authorize J.P. Morgan to collect, process, deposit and report remittances mailed to a 

U.S. Post Office box in the company’s name. By redirecting mailed payments to the bank, this 

collection service improves funds availability, reduces the costs associated with the processing of the 

payments and eliminates fraud risk. Since payments are processed according to customer 

specifications on the same day as they are received, Lockbox also accelerates posting of payment 

detail, allowing the corporation to update account records faster and with greater accuracy. 





Customers can receive posting information via paper-based reports, fax, electronic files via 

transmission or our online Imaging solution, Receivables Edge SM . 

Lockbox Imaging through Receivables Edge 

Receivables Edge is an Internet-based service that provides electronic images of checks, remittance 

documents and envelopes to clients. Through this single portal, you can access images and 

information related to payments received in your J.P. Morgan lockboxes as well as electronic 

payments received via ACH or Fedwire. Easy navigation, advanced queries, payment alerts and 

workflow tools give your accounts receivable, credit and client service staff the ability to make 

informed business decisions quickly without handling paper documents. 

Receivables Edge lets you view transaction data and images that are stored on a server at 

J.P. Morgan. You access the server via the Internet, using a standard Web browser. Beginning with 

your first scheduled deposit time, your lockbox images are available within a half-hour after lockbox 

processing is completed. Further, electronic payments are available on a scheduled basis. Images 

are retained in a high-speed, online storage archive for over a month and provides for unlimited 

retrieval of check and invoice images. For your permanent record retention needs, you may also 

choose to use our long-term, 10-year archive solution or J.P. Morgan can also provide image delivery 

via direct transmission through FTP channels. 

Receivables Edge Welcome Screen 

Figure 14 





eServe 

J.P. Morgan is pleased to offer the District eServe is a Web-based inquiry and research management 

tool available through the J.P. Morgan ACCESS portal. The District can service, report and track 

routine issues involving incoming and outgoing funds transfers and automated clearing house (ACH) 

U.S. dollar origination transactions – all online 24 hours a day, seven days a week from your desktop, 

laptop or a wireless device. 

eServe will be available to the District as a complementary service - free of charge 

eServe will help the District: 

Search, review and research transaction details 

• Confirm transactions 

• Open inquiries and track resolution online 

• Track all inquiries with built-in audit trails 

• Receive rapid funds transfer notifications via e-mail or wireless device 

• Generate easy-to-review service-level reports quickly for your accounts and track resolution 

With eServe, easy-to-handle inquiries are a click away. As always, J.P. Morgan service 

representatives are ready to serve your business needs. 

As part of J.P. Morgan ACCESS, it’s quick and easy to use eServe – no special software or hardware 

needed. You can also customize eServe to fit the District’s particular needs, and since it’s a part of 

J.P. Morgan ACCESS, you’ll be able to use a variety of J.P. Morgan services all in one place. 

13.120 Bank Fees: 

13.121 All fees must be assessed through Account Analysis. No account can be debited. 

All qualifying service fees will be assessed via account analysis and will be billed to the District via 

invoice. No accounts will be debited for service fees without prior approval from the District. 

13.122 Provide the proposed prices for the list of banking services as presented on the Prices and Services 

Chart. Prices must be guaranteed for the initial, 3-year term of the contract. 

Agreed. Please refer to Prices and Services Chart. 

13.123 Would the District order deposit tickets and other supplies through the bank or directly from a vendor? 

Deposit tickets and other supplies can be ordered directly from J.P. Morgan. Deposit tickets, 

endorsement stamps and depository bag fees are handled as a direct debit to your account, while 

other depository supplies may be charged through account analysis. 

For Multicurrency deposit and collections, a transmittal form with instructions will be provided for 

multicurrency deposit and collections at the time your account is set-up for this service. 

13.124 The bank must cash District checks payable to an employee at no charge. Is a check cashing agreement 

required? If yes, include a copy. What controls are in place to minimize check fraud? 

J.P. Morgan understands and acknowledges the requirements stated in the section above. Based on 

historical volumes provided by the District, J.P. Morgan will provide check cashing services for the 

District and its employees at no charge upon receipt of a signed check cashing agreement. Please 

refer to Appendix 13 for “J.P. Morgan’s Sample Check Cashing Agreement.” 





Advanced Technology against Fraud 

J.P. Morgan proactively develops fraud prevention tools to reduce client risk. We work closely with 

our clients to provide up-to-date security features in a controlled environment. 

We use sophisticated technology to provide a multithread approach to detection, including both 

paper-based and electronic-based payment fraud: 

• Positive Pay: Each day that checks are issued, clients will electronically transmit details of all 

issued items against your business checking and controlled disbursement accounts. J.P. Morgan 

will process the daily checks-presented information against your input file and generate an 

exception report (on a next-day basis) identifying all items that are paid with mismatched or no 

issue information on file. 

• Payee Name Verification: Reduces the risk of fraud due to payee line alterations by 

automatically matching the payee name on the issue file to the check presented. Items that do 

not match are sent for review by J.P. Morgan operators, then either accepts or rejected/sent to 

our client for final decision. These exceptions are incorporated with PWS and include check 

images for your review and decision. 

• Teller Line Positive Pay: When activated, provides protection before encashment at the teller 

line in Chase branches nationwide. This service now includes payee name verification at the 

teller line for maximum protection. 

• “Push” Technology: Provides daily e-mail notification to our clients of any exception items 

online, leaving our clients free to manage other business activities. Each business day, J.P. 

Morgan will notify our clients by 11:00 a.m. ET whether or not there are any exception items 

requiring review. If you have any exception items, we require a pay/return decision by 4:00 p.m. 

ET that same day. 

• Post No Checks: Blocks paper/check transactions drawn on that specific account from posting to 

a clients’ depository or electronic-only payment account(s). 

• ACH Debit Block: Protects against unauthorized ACH debit transactions from posting to clients’ 

accounts; provides a means of returning unauthorized ACH debits in a timely manner; helps 

reduce efforts in reconciling and investigating debit transactions. 

• ACH Transaction Review: This enhancement to J.P. Morgan’s ACH debit block service 

empowers clients with an online interface to set filter criteria, view items that do not meet filter 

criteria, and make pay or return decisions on reported ACH exceptions. 

In addition to our suite of fraud prevention services, J.P. Morgan employs the following tools: 

• Use of ASI-16 fraud detection software: a fraud detection filter examines daily check transactions, 

comparing them to the individual’s check writing history through a predefined set of bank 

parameters. 

• Teller system alerts: J.P. Morgan may mark an account with a caution/surveillance restraint as an 

interim step to protect against additional losses while account closing is pending. 

• Large-dollar check review: This offers a review of items above a specified dollar threshold to 

detect fraudulent signatures. 

• Thumbprint: Tellers require non-Chase clients to present multiple forms of identification and a 

thumbprint when cashing checks. 

• Loss Avoidance Warehouse (LAW) system: This system tracks and reports deposit accountrelated 

losses. 

• Proprietary transaction monitoring systems 





• Participation in industry-wide exchanges 

• Enhanced check cashing procedures, including two new fraud prevention tools that will help 

protect your account(s): 

• Check cashing indicator 

• Maximum per check amount 

Please note that these new services only apply to checks drawn on J.P. Morgan that are 

presented by non-J.P. Morgan account holders in our branches. 

13.125 Does the Bank pass on any fees or other assessment for FDIC Insurance? If so, how does the bank 

calculate the charge? 

The FDIC charges are pass-thru fees. The current fees are 13 basis points and are calculated by the 

following formula on a monthly basis: 

Monthly Average Ledger Balances x 13 bps / 365 calendar days x days in month 

13.126 Can the District decide how the balances in its accounts will be grouped for purposes of compensation, 

e.g., assessed individually, by division, or at the relationship level? 

The District may decide how accounts will be grouped for purposes of compensation. The balances in 

a specific account will benefit the group that the account is linked to. The District may create multiple 

pricing groups or have accounts billed on a standalone basis if the account is not part of a billing 

group. 

13.127 When calculating average balances, are positive and negative balances netted? 

Yes, positive and negative balances are netted, when calculating average balance for compensation 

13.128 How does the bank charge for overdrafts? Daylight Overdrafts? Does the bank charge for use of 

uncollected funds? If so, how is the charge calculated? 

Overdrafts are subject to the credit policy of J.P. Morgan and will be evaluated on a case-by-case 

basis. Overdrafts may be paid and waived, with a negative collected fee assessed on analysis or 

invoice at J.P. Morgan’s prime rate. Daylight overdrafts are considered on case-by-case basis. 

J.P. Morgan charges for the use of daily uncollected funds by applying a variable overdraft rate to 

individual Demand Deposit Accounts (DDAs). A Daily Occurrence Fee for overdrafts may be 

assessed on a per-occurrence basis. These fees may be offset by Earnings Credit Allowance. 

Negative Collected Balance Fee = (Negative Collected Balance x OD Rate) / 360 days 

13.129 What billing period options does the bank offer? How and when will the District be billed for 

deficiencies? 

J.P. Morgan offers monthly settlement as a standard option. Other options such as quarterly, semiannual 

or annual settlement periods may be offered in certain regions and are subject to negotiation. 

Billing statements are generated on a monthly cycle, regardless of settlement period. 

For U.S. accounts, clients are debited on the 15 th calendar day of the month following the billing 

period 

13.130 How long are excess balances carried forward and applied to charges in future billing periods? 

J.P. Morgan’s policy is to utilize earnings credit in the billing period in which they were earned. 

Excess earnings credits are not carried forward to future periods as a matter of policy. 





As previously stated in our response in Scope of Services 10.8, regarding Bank Fees, J.P. Morgan 

will comply with the District’s request to have excess earnings credits from compensating balances 

carried forward month to month with settlement at the end of each calendar year. 

13.131 How soon after the close of the billing period is the account analysis available to the District? 

For U.S. based accounts, statements are generated monthly, and are available online the sixth 

business day of the month following close of the billing period. 

J.P. Morgan’s Electronic Account Analysis Statements are available online through the J.P. Morgan 

ACCESS portal. Statements can be downloaded in to Adobe ® Acrobat ® PDF, Microsoft ® Excel ® , CSV 

formats. 

13.132 How are adjustments reflected on the account analysis? Are online analysis statement updated when 

adjustments are made? 

Details of adjustments for prior periods are provided in separate sections within the account analysis 

statement. You should notify the Bank in writing of any errors or non-receipt of an account analysis 

statement within sixty (60) calendar days after the statement is mailed, transmitted or made available 

online to you. Please refer to Appendix 2 for “Sample Account Analysis Statement Guide.” 

13.133 Please describe the procedures used to adjust bank statements and to assure a corresponding 

adjustment to account analysis statement. How is the adjustment handled if the analysis period has 

already ended? 

Details of adjustments for prior periods are provided in separate sections within the account analysis 

statement. You should notify the Bank in writing of any errors or non-receipt of an account analysis 

statement within sixty (60) calendar days after the statement is mailed, transmitted or made available 

online to you. 

Billing errors are thoroughly researched so the appropriate corrections can be applied to your 

account. Any discrepancies on your statement should be brought to the attention of your J.P. Morgan 

representative as soon as possible for timely resolution. 

13.134 Please provide a sample invoice for the District’s account. The District will not permit the bank to debit 

the District’s account for the payment of any bank fees. 

Please refer to Appendix 14 for a “Sample Invoice” for bank fees. 

13.135 CUSTODIAL SERVICES 

13.136 General Investment Portfolio: 

13.137 Provide a listing of cut off times for notification of securities transactions. Please specify if the cut off 

times vary for different types of securities. 

Deadlines for receipt and delivery of U.S. securities are detailed in the following table. Please note 

that for all Fed Book-Entry transactions, J.P. Morgan provides the ability to process reversals during 

the last 15 minutes prior to Fed closing. 

Transaction Type 

Automated Instruction Deadline 

(ET) 

Faxed Instruction Deadline (ET) 

Receive 

Physical 2:00 p.m. on Settlement Date (SD) 1:00 p.m. on Settlement Date (SD) 

Commercial paper 2:45 p.m. SD 2:00 p.m. SD 





FBE * 2:45 p.m. SD 2:00 p.m. SD 

DTC (Non-ID) * 2:45 p.m. SD 2:00 p.m. SD 

DTC (ID) 12:00 p.m. (noon) on Trade Date + 1 12:00 p.m. (noon) on Trade Date + 1 

Deliver 

Physical 1:30 p.m. SD 11:00 a.m. SD 

FBE 2:45 p.m. SD 2:00 p.m. SD 

DTC (Non-ID) 2:45 p.m. SD 2:00 p.m. SD 

DTC (ID) 12:00 p.m. (noon) on Trade Date + 1 12.00 p.m. (noon) on Trade Date + 1 

Same Day Turnaround * 

Physical 

Notification to Physical Receive 

window by 10:00 a.m. SD and 

receipt of securities and instructions 

by 1:30 p.m. SD 

Book Entry (FBE) ** Receipt of securities at least 15 

minutes prior to Fed closing and 

instructions by 2:00 p.m. SD 

Book Entry (DTC) ** Receipt of securities at least 15 

minutes prior to DTC closing and 

instructions by 2:00 p.m. SD 

Not applicable 



* Includes stock/bond loan transactions 

** If required, J.P. Morgan can negotiate a customized deadline for clients with a significant volume of same-day turnaround transactions 

13.138 Describe any sub-custodial arrangements that would be used for securities belonging to the District’s. 

Fully describe the roles and responsibilities of each sub-custodian, if applicable. 

We do not anticipate utilizing sub-custodians in providing custodial services for the School District of 

Palm Beach County, FL. 

13.139 Describe how the financial institution interacts with investment managers. 

J.P. Morgan offers specialized staff to support both third-party and in-house investment managers. 

The third-party and in-house teams are responsible for trade settlement, reporting, cash management 

support and all other aspects of day-to-day interaction. 

We support 558 third-party investment managers from our service centers in Dallas and 

Bournemouth. Within Bournemouth, New York, San Francisco and Dallas we have designated client 

service account managers responsible for coordinating the delivery of services to the investment 

manager community. This approach enables the Client Service Account Managers to become more 

acquainted with an individual manager’s style, securities characteristics and trading patterns. J.P. 

Morgan interacts with managers via telephone, electronic communication, internet reporting, review 

meetings and J.P. Morgan sponsored events and conferences. 

13.140 Does the bank provide custodial information to the District through an on-line inquiry/reporting service? 

Yes, please refer to our response to 13.150. 

13.141 Describe the custodial relationship between the institution and the Federal Reserve Bank. 

Federal Reserve Bank Book-Entry System 

The Federal Reserve Bank is responsible for cash clearing in the U.S. market, as well as the clearing 

of U.S. Treasury and Federal agency securities transactions. J.P. Morgan interacts with FBE via the 

Federal Reserve Bank book-entry network and reconciles cash and securities transactions 

electronically with the Fed daily. J.P. Morgan also has real-time links established to facilitate and 

support intraday settlement. 





13.142 Organization and Background: 

13.143 Briefly describe the organization structure of the bank Custody Department. 

J.P. Morgan Worldwide Securities Services, a division of Treasury & Securities Services, provides 

custody, trust, fund services and clearing to endowments, foundations, asset managers, pension 

funds, insurance companies, banks, broker-dealers, government entities, hedge funds and sovereign 

wealth funds on a global basis. 

We organize this business in the following fashion: 

• Global Custody and Clearing: Trade processing and settlement, securities safekeeping, 

corporate actions, class actions, income processing and proxy voting 

• Global Fund Services: Fund accounting, fund administration, benefit payments, performance 

analytics, compliance reporting, global derivatives services, hedge fund services, private equity 

and property services and outsourcing 

• Financing and Markets Products: Securities lending, foreign exchange, execution products, 

futures and options, transition management, depositary receipts, collateral management and 

commission recapture 

J.P. Morgan maintains various operational/service centers and locations throughout the United States 

and foreign jurisdictions. The services in scope for this proposal will be provided from one or more of 

such locations. Operational/service centers and locations may change from time to time. 

13.144 What is the total of all assets held in custody/safekeeping? How many Custody clients does your 

organization service? 

J.P Morgan provides custody for over 3,000 clients and holds $17.9 trillion (a/o 3/31/12) in custody for 

our clients. 

13.145 List all insurance coverages relevant to the department handling Custody functions. Please indicate the 

type and amount. 

Please refer to Appendix 15 for “Insurance Coverage.” 

13.146 Administration: 

13.147 How many accounts does your typical account representative manage? How do you determine the 

number of accounts assigned to each administrator? 

The members of client service team are crucial to the success of this relationship. After J.P. Morgan 

is appointed, the client coverage officers and other senior staff members meet with the client to 

develop a detailed account profile, including determining which of our service delivery locations will 

be best suited to service the client's account. 

J.P. Morgan uses a capacity model to effectively forecast staffing needs. Criteria used in this model 

include (but is not limited to): account size, fund type, volume, asset types, valuation frequency, 

security complexity and client reporting requirements. 

With this information, we develop a list of qualified individuals who have experience supporting the 

same type of products and investments as the client. Staff in the United States, for example, must be 

knowledgeable about how to identify and escalate prohibited transactions. 

J.P. Morgan's client coverage officers handle an average of 20 client relationships. Assignments are 

based on size, complexity and investment strategies of the relationships. 





13.148 Describe how your organization interacts with investment managers. Explain your procedures for 

notifying investment managers of trades and cash balances. 

Investment managers are given access to One Portfolio View (described in the next section) and can 

thru the following views monitor cash and transactions. 

Transactions/Activity Detail 

This lists all or selected transaction activity within a specific date range including purchases, sales, 

maturities, free receipts, free deliveries, income, capital changes, additions, withdrawals, and other 

transactions. Up to 16 months of transaction data is available. A report can be printed or data can be 

downloaded into a spreadsheet file so that the data can be easily sorted based on user requirements. 

One Portfolio View – Transaction & Activity Detail 

Figure 15 

Anticipated Cash 

This provides cash balance projections based on anticipation of income, maturities, pending trade 

settlement and other activity. Projections can be made 90 days in advance of payment dates. A 

report can be printed or data can be downloaded into a spreadsheet file. 





One Portfolio View – Anticipated Cash Reporting 

Figure 16 

13.149 On-Line Communications: 

13.150 Describe your on-line system for clients and their investment managers. Describe the information 

available, i.e. pending trades; accounting information, asset lists by account including market value, 

transaction history, summary of account market values for the portfolio, and securities on loan. 

One Portfolio View, our online reporting tool, provides clients with real-time access to their account 

information held on the trust accounting system. Using One Portfolio View, clients and investment 

managers can access their accounts at their convenience. One Portfolio View has been available to 

our clients since 2000. The basic service was developed by our vendor SEI and customized for J.P. 

Morgan’s clients. 

Information available on One Portfolio View includes: 

• Holdings/Investment Detail - Provides asset category and security-wise details comprising cost, 

unit price, pricing date, market value, annual income, unrealized gains and losses. 

• Account Summary - Provides a quick high-level view of holdings by asset category. 

• Tax Lot Detail and Unrealized Gain/Loss - Shows the full tax lot detail for each security held. 





• Transactions/Activity Detail - Provides an activity listing of all or selected transactions like 

purchases, sales, maturities, free receipts, deliveries, income, capital changes, etc. 

• Anticipated Cash - Provides a forward looking 90 day cash projection based on anticipated 

income, maturities and other pending trade settlements 

• Statements - Provides monthly settlement-based trust statements 

Data can be printed or downloaded for settlement-based trust statements and are available in a 

spreadsheet format or through other software applications. Up to 16 months of history is available, 

including suppressed transactions, to reference historical data. Access to client’s account information 

is available 24 hours a day, seven days a week (except for nominal periods of time for routine daily 

maintenance). 

Sample screen prints of the reports available within One Portfolio View are as below: 

Holdings/Investment Detail 

This provides asset category and security-wise details for each client and provides up to 16 months of 

‘as of’ holding data. The investment detail contains costs, unit price, pricing date, market value, 

annual income, unrealized gain/loss and current yield for each holding. The investment detail reflects 

the prior day market valuation for most securities in the portfolio. A report can be printed or data can 

be downloaded into a spreadsheet file so that the data can be easily sorted based on user 

requirements. 





One Portfolio View – Holdings/Investment Detail 

Figure 17 

Account Summary 

This provides a quick high-level view of account holdings by asset category. A report printing 

functionality is also available. 





One Portfolio View – Account Summary 

Figure 18 

Tax Lot Detail – Unrealized Gain / Loss 

This shows the full tax lot detail for each security held. A report can be printed or data can be 

downloaded into a spreadsheet file so that the data can be sorted based on user requirements. 

One Portfolio View - Tax Lot Detail – Unrealized Gain / Loss 

Figure 19 





Transactions/Activity Detail 

This lists all or selected transaction activity within a specific date range including purchases, sales, 

maturities, free receipts, free deliveries, income, capital changes, additions, withdrawals, and other 

transactions. Up to 16 months of transaction data is available. A report can be printed or data can be 

downloaded into a spreadsheet file so that the data can be easily sorted based on user requirements. 

One Portfolio View – Transactions/Activity Detail 

Figure 20 

Anticipated Cash 

This provides cash balance projections based on anticipation of income, maturities, pending trade 

settlement and other activity. Projections can be made 90 days in advance of payment dates. A 

report can be printed or data can be downloaded into a spreadsheet file. 





One Portfolio View - Anticipated Cash 

Figure 21 

13.151 How current is on-line information, and how many hours per day is it available? 

SEI Trust 3000 is a real-time “on-line” system that posts intraday related transactions and other 

activities as they occur. However, SEI does have a daily overnight batch component that runs 

various jobs for system generated transactions on a set schedule. Access to client’s account 

information is available 24 hours a day, seven days a week (except for nominal periods of time for 

routine daily maintenance). 

13.152 Can clients retrieve on-line information in a customized reporting format? If so, describe your custom 

reporting flexibility and limitations. Can the data be downloaded to a CSV or Excel file? 

Yes, One Portfolio View, our online reporting tool, provides clients with real-time access to their 

account information held on the trust accounting system. Data can be printed or downloaded for 

settlement-based trust statements through One Portfolio View, our online reporting tool. Statements 

are available in a spreadsheet format or through other software applications. 

13.153 How long have you offered on-line services? Provide a description of remote site hardware and software 

required by clients and investment managers. 

We have offered on-line services since 2000. Access to the web is required to access data. 





13.154 What provisions are made for training of client personnel in the use of the system? 

One Portfolio View is a user-friendly tool that displays account information and does not require any 

training. For users who need extra help, they can receive assistance via an email request to 

OnePortfolioview@JPMorgan.com. The support teams are J.P. Morgan employees, not third-party 

contractors, to ensure high standards of customer service. The support staff is available to answer 

questions from 7:00 am to 6:00 pm ET. 

13.155 What information, current and historical, is provided and available on-line in raw data elements? Indicate 

when and how this information is available/accessible. 

J.P.Morgan provides clients and their service partners with online access to account information. Our 

online products are easy to use and simple to access. 

One Portfolio View sm offers real-time Internet access to your account information with a variety of 

viewing options including: 

• Investment detail with assets grouped by type with links to the unrealized gain/loss section 

• Transaction activity detail with a listing of all additions, withdrawals, income, purchases and sales 

• Account summary with a high-level view of your accounts’ holdings by asset category 

• Cash projections based on each account 

• Monthly statements 

Data can be printed or downloaded for use with a spreadsheet or other software application. Access 

to account information is virtually 24 hours a day, 7 days a week (except for nominal periods of time 

for routine daily maintenance). 

Minimum computer requirements are necessary for access to these programs. Most users' systems 

will meet or exceed these requirements: 

• The browser must support 128-bit encryption to ensure the security of data transfer 

• The Internet connection must be at least 28.8 kilobits per second (kbps) 

• Minimum hardware requirements include using a Pentium 90 with 32 megabytes of RAM 

13.156 Accounting Reporting: 

13.157 Provide a complete description of your accounting system. 

J.P. Morgan has outsourced the system that supports our middle market master trust/custody clients 

to SEI Investments Company (SEI). The SEI core domestic trust and securities accounting, customer 

reporting and management information system has been in place since 1991. The securities 

accounting system accommodates trade settlement, income collections, corporate actions, reporting, 

investment accounting and cash management. The system facilitates real-time, read-only access to 

account information. System upgrades and enhancements are performed on a quarterly basis. 

The entire environment is secured through the TSO security application that identifies and 

authenticates the system user via their TSO ID and password. This ensures that only authorized 

users are able to access the appropriate applications and data. To ensure the availability of the 

application systems, redundant connections are in place between J.P. Morgan and SEI. 

Processing Cycle 

The processing of trade settlements and control of physical movement is provided in the Security 

Movement and Control (SMAC) application of the trust accounting system. This application tracks all 





trades from the trade date to settlement date. Automated collections for maturities are also 

supported, along with other security movements for free receipts, deliveries and transfers. Trade 

entry, daily settlement, income collections, and position reconciliations are streamlined through 

automated and integrated links with DTCC and other depositories and custodians. 

Reconciliation reports and processes 

Reconciliation with the depositories is an automated process. We receive a daily report of our 

positions in detail. These detail positions are integrated with our own reports and exceptions are 

tracked, researched and resolved. 

To ensure the integrity of the custodial data, the trust accounting system is reconciled in total at the 

end of each day. Data from other modules is collected into one database, reconciled and daily 

transaction settlements are processed back to the modules. 

Reports 

We can furnish trust accounting statements on a trade date or settlement date basis and on an 

accrual (except expenses) or cash basis. Statements can be generated on a monthly, quarterly, 

semi-annual or annual basis. We offer a variety of format options such as: 

• Account summary 

• Investment summary 

• Portfolio details by issue 

• Cash receipts/disbursements 

• Income earned 

• Acquired/disposed asset listing 

• Unrealized gain/loss by asset category 

• Total unrealized gain/loss 

Additionally we offer clients data on their accounts through our internet system One Portfolio View. 

13.158 Does your system report or accommodate trade date, contractual settlement date, cash basis accounting 

or a combination? Are any other methodologies available (i.e., tax lot, etc)? Please explain. 



semi-annual or annual basis. 

13.159 What is the lag time between trade execution, availability of on-line transaction date to the client, and the 

posting of the transaction to your accounting system? 

Once the Bank becomes aware of trades, normally trade date they are posted as pending settlement 

to the clients account. 

13.160 Can you carry the book value of securities at original cost, amortized/accreted cost, average cost, or 

some other basis? How do you compute realized gains and losses? 

YES – we can carry book value at what values are provided to us. 

Gains and losses are determined based upon how the assets are established in the account [LIFO, 

FIFO, average, etc.]. Realized gain/loss determined by subtracting the total amount for which the 

asset was purchased from the value of the asset at its latest pricing. An actual gain or loss from the 





sale of an asset is known as a Realized Gain/Loss. The gain or loss is determined by subtracting the 

amount paid for the asset from the amount received from the sale of the asset. 

13.161 Do you have the capacity to report brokerage commissions by account and by transaction? 

Yes, the trust accounting system reports brokerage commissions by account and by transaction. 

13.162 Explain the methodology and policies in place for accrual accounting. What transactions are not 

accrued? 

Our trust accounting system provides statements on either a trade date or settlement date basis and 

either an accrual or cash basis. 

13.163 Describe your ability to implement, establish and maintain a fixed income portfolio based on amortized 

cost. Describe the amortization/accretion methods available to the fund, frequency of processing, 

conversion experience, and the current value of fixed income being maintained by you using this 

application. 

We can receive assets based on amortized values. 

If amortization/accretion is elected, we utilize the straight-line method, which is applied on a monthly 

basis and at the time of asset disposition. 

13.164 What is your source and how do you account for pay down information? Do you maintain a record of the 

original face amount purchased? 

Mortgage – backed securities are priced thru IDC on a monthly basis. Original face amounts are 

maintained. 

13.165 Is reporting provided on a trade date, accrued basis? 

Yes. 

13.166 Describe your standard reporting package. Provide copies of reports available to clients. 



semi-annual or annual basis. We offer a variety of format options such as: 

• Account summary 

• Investment summary 

• Portfolio details by issue 

• Cash receipts/disbursements 

• Income earned 

• Acquired/disposed asset listing 

• Unrealized gain/loss by asset category 

• Total unrealized gain/loss 

13.167 Which standard reports are available on-line? Are they available the next business day? Describe when 

and how we would access these reports. 

All standard reports are available “real time” on One Portfolio View (OPV). 





13.168 How soon after accounting periods are fully audited reports available? 

J.P. Morgan works with its clients to establish acceptable report delivery dates. Settlement datebased 

position and transaction reports are available on-line the first business day of the month with 

hard copies of final monthly statements mailed or available on-line before the fifth business day of the 

month. Trade date based statements are audited and mailed by the tenth business day. 

Settlement date-based reports, which are system generated from One Portfolio View, are not audited. 

13.169 What steps are taken to ensure the accuracy of your reports? Are reports audited before they are mailed 

to clients? If so, by whom? 

Our custody statements are released upon the completion of multiple audit steps taken by our WSS 

Operations Team [pricing, balancing, etc.]. 

13.170 Are you willing and able to prepare special reports from available data? Is there an extra charge for this 

service? 

We are willing and able to prepare special reports, additionally we will work with our clients to insure 

they have the knowledge to create customized reports. Any cost in creating a special report will be 

agreed to prior to our undertaking the project. 

13.171 Custody Safekeeping: 

13.172 Describe your depository memberships (i.e., DTC, FRB, PTC) and the services you use at these 

depositories. 

In the United States, J.P. Morgan uses the services of all major depositories to settle book entry 

securities. We use all of the services provided by these depositories, including settlement, 

safekeeping through the immobilization of assets, and income distribution. J.P. Morgan is linked 

directly to the depositories through mainframe interfaces that enable accurate and efficient 

transaction processing. 

J.P. Morgan also operates our own physical receive/deliver vendor and vault facility in New York’s 

financial district for settlement of physical and book-entry securities, without the involvement of any 

second-party or third-party banks. 

Depository Trust Company - J.P. Morgan has been a direct participant of DTC since inception in 

1973. J.P. Morgan interfaces directly with DTC through automated real-time transmissions and 

terminal interfaces. These links control the flow of data between J.P. Morgan and the depository’s 

systems, including the loading of trade confirmation data onto J.P. Morgan’s front-end systems, 

affirmation of trades back through the depositories, and release of transactions to J.P. Morgan’s 

securities movement and control system. 

Federal Reserve Bank Book Entry System - J.P. Morgan has been a direct participant of FBE since 

inception in 1966. J.P. Morgan interacts with FBE via the Federal Reserve Bank Book Entry Network, 

and reconciles electronically with the Fed in aggregate daily. For purchases, the Fed sends a realtime, 

online advice of security receipt, which J.P. Morgan matches to our pending file. If there is no 

match, the incoming transaction is electronically referred to the customer service unit for resolution. 

13.173 Describe your system for the registration and custody of assets. 

Our core U.S. custody securities movement and control platform tracks securities and cash positions 

for custody clients, operating in a real-time interactive environment. The platform interfaces directly 

with DTC, BDAS (for Fed settlements), the NSCC and our in-house Treasury Services cash 

applications. 





Globally, our core custody securities movement and control platform also tracks securities and cash 

positions for global custody clients, operating in a real-time interactive environment. The system 

interfaces directly with our sub-custodian network via SWIFT, as well as with global depositories 

through SWIFT or dedicated depository interfaces. The system is also linked directly to our global 

cash systems. 

In the vast majority of markets around the world, securities are registered and safe-kept in book-entry 

form at securities depositories, greatly reducing the risks for foreign investors. In the few remaining 

countries where physical securities are safe-kept with sub-custodians, we monitor the registration 

status of each trade. An indicator on our custody system identifies those transactions where a 

certificate is out for registration. 

If the certificate is not received within market specific standards, we instruct our sub-custodian to 

contact the registrar to identify the cause of the delay and ensure completion of the registration 

process in the shortest possible timeframe. 

Our procedures minimize risks for clients, which may range from missed entitlements to stolen 

securities. We work closely with our sub-custodians to identify any particular risks in a given country 

and to create procedures or actions, which reduce the likelihood of such risks. 

The sub-custodians referred to in this response have to do with our non-U.S. asset settlement 

process. We do not anticipate utilizing for this relationship. 

13.174 Describe where and how the receipt and delivery of "physical" securities occur and how are they 

secured. Describe any involvement of second party banks in the clearing of such transactions. 

In the United States, receipt and delivery of physical assets occur at our vault in New York City. In 

addition to physical protection, the vault offers state-of-the-art security features to help provide for the 

safety of physical assets. As an additional safety measure, we maintain insurance coverage for 

losses related to cash, securities and other properties under custody. 

Physical securities are held in J.P. Morgan’s nominee name or bearer form. Receipts and deliveries 

are monitored point-to-point through each step of the settlement process. 

Our system not only tracks the area in which a security resides but also monitors the timeliness of 

movement toward its ultimate destination. Added control is provided by scanning securities each time 

they are settled. 

Normally, at least one day's notice is required for transfers of U.S. securities. When we receive a 

sale instruction for a physical security from a client, edit checks are completed, and the trade is 

passed automatically to the securities movement and control processing system. 

One day prior to settlement, a withdrawal ticket is produced in the vault. Our authorized vault 

personnel withdraw the security from the client’s holdings and route the item on the processing 

system to the delivery department. The delivery department prepares the item for delivery (that is, 

scan, count, examine, negotiate) and presents the item to the purchaser via messenger or mail (free 

deliveries only). The delivery department then recovers payment from purchaser or receipt for mailed 

items and settles the trade. 

All physical securities received at our window are time-stamped, microfilmed and subject to a detailed 

operational procedure. The process includes verification of at least 12 data points, including clearing 

broker, registration, quantity, settlement amount, CUSIP, account, bond form and maturity date. If the 

CUSIP is new, a request is sent electronically to our global market reference database for it to be set 

up on our system. Any security presented that does not match the client’s instructions are referred to 

the client for further instruction or DK’d back to the broker. 





If a security is accepted, a J.P. Morgan transaction number is created and the trade is monitored 

point-to-point through each step of the settlement process. Our system captures the registration 

process for and notifies clients of the registration status of positions on a regular basis. Once the 

assets are re-registered, the system is updated to reflect the registered position. We also record-date 

for each item. 

13.175 Briefly describe your securities settlement process. Describe your procedures and capabilities for 

settling and accounting for same day cash trades. 

The processing of trade settlements and control of physical movement is provided in the securities 

movement and control (SMAC) application of our trust accounting system. Both the trade order and 

execution information are used to create a pending trade in SMAC. The use of Depository Link 

allows the system to match trade executions to DepLink confirms. Affirms are then created for those 

confirms that match executions. Trades are then tracked through settlement. 

The SMAC pending items are identified in an account as pending trades until settlement date. On 

settlement date, the trades post to the account, updating account, position, taxlot and totals. Our 

trust accounting system has automatic interfaces with the various depositories to download this data 

and track the registration and location of all assets. 

Book-entry trades are settled in the following steps: 

1) The investment manager or client instructs a broker to execute a trade. 

2) Broker executes and builds trade details into an electronic confirm transmitted over the DTC 

Institutional Delivery System (IDS). 

3) Investment manager or client affirms trade details. 

4) J.P. Morgan electronically pends trade to internal accounting system. 

5) J.P. Morgan validates transaction details, receives or delivers trade versus payment from or to 

the broker on settlement date. 

For Fed trades, steps 2 and 3 do not occur. Trades for these instruments can either be submitted via 

fax or electronic trade communication such as TradeSuite. 

For cash trades, we require written authorization the same day for settlement. 

For physical settlements, after pending trade to internal accounting system, J.P. Morgan issues 

instructions to withdraw the securities. After verifying that the securities agree with the trade 

instructions and are in good deliverable form, J.P. Morgan settles the trade. The account is credited 

and securities are then delivered from the account holdings. 

13.176 Are purchases and sale settlements made on an actual or contractual basis? If you utilize a contractual 

settlement approach, are there any stipulations or exceptions to this method? 

Trades are posted on contractual settlement date. 

There are no exceptions or stipulations for the type of securities identified by the District. 

13.177 How and when do you record and report (within your system, to clients, to investment managers, etc.) 

corporate actions? 

Corporate actions are processed upon receipt of vendor notifications. 

Upon receipt of the notification, J.P. Morgan’s corporate action unit reviews and interprets all 

documents and updates the trust accounting system with the information. Notification of all corporate 

action offers are given to clients and investment managers. For all mandatory offers, 





J.P. Morgan acts on behalf of the client / investment manager without direction. In the case of a lack 

of response for voluntary action participation, J.P. Morgan would follow up through reminders the 

default of the offer would apply. 

Our Corporate Action Processing System automates the processing, reporting, notification and 

tracking requirements associated with corporate actions. To obtain all current information that affects 

your portfolios, J.P. Morgan subscribes to nationally recognized sources for notification of capital 

structure changes that include DTC, Financial Information, Inc. XCITEK, J.J. Kenny and Bloomberg 

for domestic securities. 

All corporate action claims are processed end-to-end in the corporate action processing module, 

within J.P. Morgan’s Trust 3000 system. 

13.178 What is the source of your pricing data for stocks, bonds, options, and convertibles and including how 

frequently prices are updated? 

Please refer to Appendix 16 for “Pricing Sources.” 

13.179 How do you handle corrections/reversals (i.e., as adjustments or as offsetting purchases and sales)? 

A member of the client service team contacts you or your investment manager to advise of the issue 

preventing the trade and would rely on fax instruction to amend or cancel the pending trade. 

All amendments received within the proper timeframes are processed on a same-day basis. 

J.P. Morgan will provide the ability to process reversals up to the last 15 minutes prior to Fed closing. 

13.180 Cash Management: 

13.181 What is your policy toward crediting of interest and dividends on payable dates? Are income payments 

credited in same day funds? 

Interest and dividends are credited and available for investment on payable date. 

13.182 When are funds withdrawn for purchases? Credited for sales? Fed funds or clearing house funds? 

Funds are debited and credited on contractual settlement date. 

13.183 Describe your system for monitoring cash balances. Do you sweep cash automatically? If so, how often 

and to what balance? Or do you purchase and sell manually each day to accomplish this task? 

J. P. Morgan offers an automated sweep to address un-invested cash balances at the beginning of 

the business day. Once income has posted through night stream, the sweep is automatically 

processed the next business day. The automated sweep runs after the batch date is advanced so 

that it processes cash balances for the coming day. Other sweep options are manually processed 

intraday by the client account administrator, based on client request. Our investment sweep services 

enable you to: 

• Reduce idle cash by investing excess balances 

• Automate the investment process, and save time by eliminating the need to initiate transactions 

by phone or through a broker 

• Ensure daily liquidity 

Sweeping is a way to ensure that available funds are invested, especially hard-to-predict balances 

that may include late-day credits and debits. Available funds that exceed your target balance are 

automatically debited from your account and invested into the vehicle of your choice. Interest 

accrues daily and credits monthly on the first business day of the following month. 





Additionally, J.P. Morgan provides a wide range of other investment options to match clients 

investment policies and risk tolerance. J.P. Morgan offers the J.P. Morgan family of funds, which are 

managed by J.P. Morgan’s Asset Management line of business. Key money market funds are as 

below: 

• J.P. Morgan Prime Money Market Fund 

• J.P. Morgan U.S. Government Money Market Fund 

• J.P. Morgan Federal Money Market Fund 

• J.P. Morgan Treasury Plus Money Market Fund 

• J.P. Morgan 100% U.S. Treasury Securities Money Market Fund 

• J.P. Morgan Tax Free Money Market Fund 

• J.P. Morgan Liquid Assets Money Market Fund 

13.184 How are instructions for investment transactions relayed to you? Are there any time restrictions? What 

procedures are in place to identify, follow-up and resolve failing trades? What percentage of 

transactions failed for the most recent calendar year? 

Clients and their investment managers are serviced from global processing hubs and regional 

customer service centers located around the world. 

Clients have direct access to our customer service operations during local business hours. In 

addition, client service units in each regional service center communicate via automated processing 

hubs in Dallas, Texas, and Bournemouth, England, who in turn communicate electronically with each 

subcustodial agent in J.P. Morgan’s global custody network. 

These centers enable J.P. Morgan to meet the needs of clients and investment managers throughout 

the world, in the time zone, language and culture best suited to each client. 

J.P. Morgan interacts with investments managers through a web-based reconciliation tool which 

allows investment managers to update specific information pertaining to market values, cash flows, 

returns and performance methodology. This procedure allows us to facilitate a comparison of data 

between J.P. Morgan and external parties. 

This reconciliation is a vital part of our performance validation process which is completed for each 

investment portfolio prior to release of final performance reporting. In cases where there are return 

differences, we work with the investment managers and our accounting team to identify and resolve 

the discrepancies. 

13.185 What short-term investment vehicles (describe in detail) are available to your clients? Please review 

attached Investment Policy. Any money market fund recommendation must be either the institutional 

class share or the share class with the overall lowest all-in fee. 

J.P. Morgan offers a complete and leading array of overnight and short-term cash investment 

alternatives to support the client’s overall investment and trading activity. 

As a first step, we work with clients to develop a comprehensive and sound liquidity management 

strategy. J.P. Morgan consults with clients to understand their particular objectives and to fashion the 

optimal overnight and short-term investment approach – one that maintains the right balance of risk, 

liquidity, operating efficiency and total return. 

In doing so, we leverage the expertise of J.P. Morgan’s market-leading investment entities, including 

J.P. Morgan Treasury, J.P. Morgan Asset Management and J.P. Morgan Securities LLC. 





Creating a Liquidity Management Strategy 

A comprehensive and sound liquidity management strategy must address safety, diversification and 

accessibility. We know that cash must be in the right place at the right time. To meet these goals, we 

help our clients create a strategy that adheres to J.P. Morgan’s Five Principles of Liquidity 

Management. Under this approach, we seek to: 

• Understand and segment cash needs and then determine the appropriate (not necessarily 

minimum) liquidity requirement 

• Establish the appropriate overnight and short-term investment guidelines for availability and 

safety 

• Select investment types, within the guidelines, that are appropriate for each cash category 

• Establish and verify diversified contingent funding sources, if needed 

• Maximize the transparency and efficiency of the cash position across geographies and legal 

entities 

Accessing Leading Liquidity Management Entities 

To help you achieve the optimal liquidity management strategy, J.P. Morgan can leverage the 

capabilities and expertise of our leading treasury, asset management and investment banking entities 

for whatever investment chosen, including interest bearing accounts, money market funds and direct 

securities placement. 

J.P. Morgan Treasury provides global leadership and scale in numerous trading markets. 

J.P. Morgan Asset Management has seen continued asset growth and remains the largest 

institutional money market fund provider in the world. And J.P. Morgan Securities LLC is a fullservice 

broker-dealer with global trading capabilities and a full range of securities expertise. 

We also provide access to select third-party providers to fulfill a client’s requirements. 

Proven Market Leadership in Liquidity Management 

The continued recognition we receive demonstrates the success of our approach. Recent awards 

include: 

• Best Overall Bank for Cash in North America, Global Finance, 2006, 2007, 2008, 2009 and 2010 

• European Cash Management Provider of the Year , ICFA Magazine, European Awards, 2010, 

2011 

• Global Cash Management Provider of the Year, ICFA Magazine, Global Awards, 2008, 2009 and 

2010 

• Best Cash Management Bank: Australia, The Asset, Triple A Transaction Banking Awards,2010 

• Best Cash Management Bank: Japan, The Asset, Triple A Transaction Banking Awards, 2010 

While we work with clients to create the optimal liquidity management strategy utilizing our wide 

range of investment and deposit products, our experience has been that pension clients have the 

most interest in the following options: 

J.P. Morgan Money Market Funds 

J.P. Morgan U.S. Money Market Mutual Funds are offered through J.P. Morgan Asset Management, 

the world’s largest provider of institutional money market funds. J.P. Morgan offers the convenience 





of an automatic sweep and the liquidity and stability provided by J.P. Morgan Asset Management’s 

large portfolio size. 

• Investment Philosophy: Clients can choose from eight J.P. Morgan funds, each managed by 

J.P. Morgan Asset Management. Each fund comprises short-term debt instruments with a 

weighted average maturity of the portfolio of 60 days or less. 

• Objectives and Guidelines: All of the funds seek to provide current income while maintaining 

daily liquidity. Suitable for accounts with stable balances (e.g. maximum 10 to 20 percent 

volatility). 

• Management Fees: Investments are subject to certain expenses as set forth in the fund’s 

prospectus. No minimum investment is required; however, clients will be placed in an appropriate 

share class based on invested balances. Expenses vary by share class. Yields are net of 

expenses. 

J.P. Morgan Money Market Mutual Funds (Management fees varies by share class) 

Prime Money Market Fund 

U.S. Government Money Market Fund 

Federal Money Market Fund 

Treasury Plus Money Market Fund 

18 – 51 bps 

18 – 59 bps 

21 – 59 bps 

21 – 59 bps 

100% U.S. Treasury Securities Money Market Fund 18 – 59 bps 

Tax Free Money Market Fund 

Liquid Assets Money Market Fund 

Municipal Money Market Fund 

21 – 59 bps 

18 – 59 bps 

21 – 59 bps 

• Minimum Quality Ratings: All of the funds adhere to 2a-7 guidelines for quality and average 

maturity. 

• Sweep Process: All of the funds are available through an intraday or end-of-day sweep. For 

both intraday and end-of-day sweeps, there is no automatic return of cash. Redemptions are 

triggered by activity in the cash account. The end-of-day sweep cut-off is the last transaction of 

the business day. Standard intraday Standard intraday cut-offs are listed below. 

J.P. Morgan Money Market Mutual Funds Intraday Cut-off Times 

Prime Money Market Fund 

U.S. Government Money Market Fund 

Federal Money Market Fund 

Treasury Plus Money Market Fund 

4:00 PM ET 

4:00 PM ET 

1:00 PM ET 

4:00 PM ET 

100% U.S. Treasury Securities Money Market Fund 1:00 PM ET 

Tax Free Money Market Fund 

Liquid Assets Money Market Fund 

Municipal Money Market Fund 

Earnings Credit 

11:00 AM ET 

4:00 PM ET 

11:00 AM ET 

Clients can earn a credit – a soft dollar value calculation – on USD cash balances held in the U.S. in 

a non-interest bearing account to be used to offset fees for banking services such as Custody, Fund 

Accounting or Investment Analytics. Though it works differently than an explicit interest payment, 





earnings credit can have the same net effect enabling clients to earn value for short term cash 

balances. 

Earnings Credits accrue daily on 100% of cash balances, net of deposit insurance fees. 

Earnings Credit offers additional benefits to our clients: 

• Counterparty risk is reduced: As a provision of the Dodd-Frank Act, the Federal Deposit 

Insurance Corporation (FDIC) introduced a new program on December 31, 2010 that provides 

unlimited insurance coverage on all non-interest bearing transaction accounts, which include 

balances used to pay for service fees, effective until December 31, 2012. After the expiration of 

this unlimited insurance, balances left in the cash accounts are backed by the full faith and credit 

of JPMorgan Chase Bank, N.A. which has current ratings of Moody’s: P-1 / S&P: A-1 / Fitch: F1+. 

• Lowered Expenses: Using the earnings credit facility to pay for bank services is an easy and 

convenient way to lower overall administrative expenses, which ultimately optimizes operating 

income. 

• Efficiency: Operationally the earnings credit product is more efficient for optimizing cash than 

managing a sweep structure or direct investing because the funds remain in the cash account 

and are available for use as needed. 

• Attractive Value: The earnings credit rate is a managed rate set periodically by J.P. Morgan after 

considering a range of factors such as market rate environment, deposit insurance fees, and 

relevant competitor pricing. The managed rate maintains pricing flexibility while protecting clients 

from short-term rate volatility by not linking to any one index. 

Additional Options 

While we have found that our pension clients focus on the above-listed products, we would be happy 

to consult or provide detailed information on other investment products including: 

JPMorgan Chase & Co. Offshore Time Deposit Sweep 

J.P. Morgan can pay interest on U.S. dollar balances through our offshore time deposit sweep. The 

J.P. Morgan offshore time deposit provides a simple, convenient and safe way to invest and earn a 

competitive rate of return. Rated A1/P1 by Moody’s and Standard & Poor’s, this option moves funds 

to an account at the JPMorgan Chase Bank N.A., branch in Nassau (Bahamas) or London (U.K.) and 

provides a good option for clients who cannot predict daily balances with certainty. 

Interest is accrued daily and credited on the first business day of the month. 

• Investment Philosophy: This option is a deposit obligation of JPMorgan Chase, N.A., and 

balances sit on our balance sheet as a liability. 

• Objectives and Guidelines: This option seeks to provide current income while maintaining daily 

liquidity. This is a direct investment, and thus no prospectus is available. 

• Performance: The effective yield is based on Fed Funds effective rate, less a spread. Daily 

yields are calculated on a 360-day basis. 

• Management Fees: Clients earn Fed Funds effective rate, less a spread. Funds are invested 

via our sweep platform and no wire costs are incurred for placing funds. 

• Minimum Quality Ratings: The funds are deposit obligations of JPMorgan Chase Bank N.A., 

which currently enjoys the short term rating of A1+/P1. 

• Sweep Process: Available through the end-of-day sweep process. Clients have full daily 

liquidity. 





JPMorgan Chase & Co. Commercial Paper Sweep 

J.P. Morgan can pay interest on U.S. dollar balances through our JPMorgan Chase & Co. commercial 

paper sweep. Rated A1/P1 by Moody’s and Standard & Poor’s, this option represents an investment 

into a Master Note, representing a commercial paper obligation of JPMorgan Chase & Co. Interest is 

accrued daily and credited on the first business day of the month. 

• Investment Philosophy: The sweep represents an investment into a master note, representing 

a commercial paper obligation of JPMorgan Chase & Co., the bank’s holding company. 

• Objectives and Guidelines: This option seeks to provide current income while maintaining daily 

liquidity. This is a direct investment, and thus no prospectus is available. 

• Performance: The effective yield is based on Fed Funds effective rate, less a spread. Daily 

yields are calculated on a 360-day basis. For clients requiring tiered investments, the 

J.P. Morgan managed rate will be earned on the second tier. 

• Management Fees: Clients earn Fed Funds effective rate, less a spread. Funds are invested 

via our sweep platform and no wire costs are incurred for placing funds. 

• Minimum Quality Ratings: Commercial paper has a short term rating of A1/P1. 

• Sweep Process: Available through the end-of-day sweep process. Clients have access to 

sweep balances on a daily basis. 

13.186 What percentage of fails did you experience in the last three years for sales and for purchases? 

Our fail rates have been very consistent over the past three years at 2.5% purchase fail and 1.3 to 

1.4% sale fail. Below are the volume and market values for 2011. 

The total domestic U.S. trade volume and average fail rates for purchase and sale trades during the 

12 months ending December 31, 2011 are as follows: 

Trades 

Volume 

(Number) 

Total Market Value 

(US$ millions) Fail Rate (%) 

Purchases 9.5 million $47,077,896 2.5% 

Sales 8.1 million $40,516,272 1.4% 

13.187 System Capabilities: 

13.188 What are your systems capabilities (hardware and software)? How long has the current hardware been in 

place? 

There are no capacity limits for transactions, accounts, user sessions and user IDs. The SEI Trust 

3000 system is accessible over a secure, private communication line. The network operating system 

is CISCO IOS. The current arrangement accounting and reporting system has been in place since 

2000. 

13.189 Is the Custody department supported by a dedicated data processing programming and application staff 

How many and what level of vendor support personnel are on-site? 

Yes. 

13.190 What back-up and recovery capabilities are in place in case of malfunctions or emergencies? Where is the 

back-up system located? 

Daily data back-ups and off-site storage protect the continuity and integrity of our system. We have 

contingency arrangements that provide for the use of alternate work sites in case of disaster so that 





normal business operations can continue with minimal interruption. Annually we participate in 

disaster recovery trials to ensure the integrity of the data reprocess. 

13.191 Describe your disaster plan procedure and results of such tests performed in the last year. 

Due to the sensitive nature of this information, J.P. Morgan does not release specific details on the 

location of primary and backup data centers and processing sites. All backup sites and hot site 

locations are in a separate zone or region depending on the product and regulatory requirements of 

the country in which we are operating. J.P. Morgan’s corporate policies use the zone designation to 

measure and depict local diversification of infrastructure and access. 

To address wide scale disruption the term region, as a designation, is used to measure and depict the 

susceptibility of multiple locations to the same wide-scale disruption. An analysis to determine zone 

and region designation is performed by our Corporate Real Estate/Corporate Security/Global Life 

Safety business units with input from Corporate Technology and Corporate Resiliency Risk 

Management. 

To determine if two or more sites are in the same or separate zones, the following resources/risks are 

taken into account: 

• Electric power source or sources 

• Do the sites rely on the same power grids and/or sub-stations? 

• Telecom feeds 

• Do the sites rely on mutually exclusive routing for telecom services? 

• Are there any single points of failure that could impact the sites in terms of telecom 

availability? 

• Water Supply 

• Do the sites rely on a single water source such that a crisis impacting the water source would 

render either sites inhabitable or the cooling systems of the sites unusable? 

• Transportation 

• Do the sites rely on a single method of transportation (e.g., rail) or single road for access? 

• Is there a unique route to get to each site without having to pass in close proximity to the 

other site? 

• Is there a single road shared by the two sites such that one must pass one site to get to the 

other? 

• Accessibility 

• Are the sites located in such close proximity that police or official action could possibly 

barricade both sites due to the same event? 

• Are the sites located in such close proximity that they could fall into the same crime zone or 

hazard zone? 

To determine if two or more sites are in the same or separate regions, the following resources/risks 

are taken into account: 

• Airborne and/or weather threats 

• Is the geography of the area such that the sites are located in the same weather threat zone? 

Are they in the same hurricane-threatened area, same flood plain, etc.? 





• Are the locations subject to threats from the same airborne agents? Hazmat (freight rail or 

interstate freeway or turnpike nearby), chemical manufacturing, nuclear power plants? 

• Additional threats or risks in the area 

• Are the sites near the same high-profile building which might be a terrorist target? 

• Are the sites situated on the same fault line? 

• Is the political or country-wide infrastructure considered to be unstable? 

Current implications of zone and regional designation: 

• One zone designation 

• Sites residing in the same zone cannot serve as recovery locations for any other sites in that 

zone 

• In creating recovery plan, material, facility, or capabilities residing in the same zone must be 

considered unavailable to those recovery plans (e.g., records, supplies, equipment, 

technology, etc.) 

• One region designation 

• Business units and applications supporting processes that are subject to Inter-Agency White 

Paper1 compliance must provide a recovery location out of the region without reliance on 

records, supplies, equipment, technology, etc., from within the region 

13.192 When was the software developed and was it developed internally or externally? 

JPMorgan utilizes a vendor application which was originally developed in 1972. 

13.193 What are your security procedures that protect customer information, especially with respect to 

unauthorized access to data? Please describe in detail all security measures. 

The SEI Trust 3000 system is accessible over a secure, private communication line. 

J.P. Morgan incorporates extensive security procedures and authorization mechanisms to control 

access to its systems and to client account data. The computer programming and securities 

processing departments are in separate physical locations, with segregated duties and 

responsibilities. 

Computer operations personnel do not have the access necessary to enter transaction data. 

Technology security administration personnel maintain a matrix of user access privileges. Within this 

structure, a separation of duties is enforced among information/technology control roles, which helps 

to ensure that no one person can assume an excessive level of control. 

Processes for periodically reviewing access include: 

• Access to systems is reviewed periodically by security administration and department managers. 

• The human resources system automatically passes notification of a change in an employee’s 

status (such as terminations) to security administration, and the employee’s access is revoked 

immediately based on this notification. 

• In the event of an employment transfer, the user’s access is amended to reflect new 

responsibilities. 

• Password configuration standards 





13.194 Custodial Fees: 

13.195 Submit a copy of your proposed fee schedule and/or describe on what basis fees are calculated. Indicate 

frequency with which you intend to submit billings. 

Please refer to the Cost of Services section for Custody pricing. 





14.0 References 

14.1 Complete the Reference Document and include five (5) governmental references including at least one 

public school district (if possible, where similar services were provided). This should include at least one 

reference from a customer who has been with you for a year or less, three references from veteran 

customers with long term or repeat contracts and at least one reference from a past customer who is 

currently not under contract. The District will contact these references during the evaluation process. 

NOTE: The information requested must include a current email address for each reference. 

The completed Reference Document that includes school district references who use General Banking 

Services with J.P. Morgan is attached on the following pages. Custody references are listed below: 

Custody References: 

Oklahoma City Employee Retirement System 

Bob Ponkilla 

Treasurer 

420 W. Main, Suite 120 

Oklahoma City, OK 73102 

bob.ponkilla@okc.gov 

405-297-2965 

City of Tempe 

Wayne Knowles 

Financial Management Accountant 

20 E 6th Street 

Tempe, AZ 85280 

wayne_knowles@tempe.gov 

480-350-8972 

Beloit College 

Sandy Fordell 

Executive Assistant 

700 College Street 

Beloit, WI 53511 

Fordells@belloit.edu 

608-363-2250 

Louisiana State University 

Eddie Parfait, CPA 

Financial Accounting and Reporting 

204 Thomas Boyd Hall 

Baton Rouge, LA 70803 

eparfait@lsu.edu 

225-578-7682 

Wabash College 

Larry Griffith 

P.O. Box 352 

Crawfordsville, IN 47933 

griffitl@wabash.edu 

765-361-6212 


SCHOOL DISTRICT OF PALM BEACH COUNTY 

PURCHASING DEPARTMENT 

12C-009C – REFERENCES 

See Section 14.0 

This information will be used in the evaluation of this bid. 

List five (5) references as stated in the RFP, Section 14.0 which show experience in similar work, to include 

nature and scope of work, which demonstrates an expertise in providing the services as stated herein. 

Please complete all fields of requested information for all five (5) references. These firms will be contacted to 

validate your references. It is important that you list a current contact name and their current email 

address. Please read the title after each Reference No. and enter the appropriate vendor name and 

information. Failure to provide this documentation may result in rejection of bid. 

YOUR COMPANY NAME: __________________________________________________ 


Submitted By:______________________________________________________________ 

Ralph Hildevert 

Reference No. 1 – New Customer of Firm (of 1 year or less) 

Name of Firm: 

___________________________________________________ 

Malverne Union Free School District 

Address of firm: 

___________________________________________________ 

301 Wicks Lane, Malverne, NY 11565 

Phone Number of firm: 516-887-6417 

Hours firm can be reached: ___________________________________________________ 

9:00 a.m. - 5:00 p.m. ET 

Scope of Service: 

___________________________________________________ 

General Banking Services 

Date of Service: 

Contact Person: 

Contact Person Email: 

Contact Person Phone: 

Contact Person Fax: 

Contact Person Cell Phone: 

___________________________________________________ 

March 2011 

___________________________________________________ 

Tom McDaid 

___________________________________________________ 

tmcdaid@malverne.k12.ny.us 

___________________________________________________ 

516-887-6417 

___________________________________________________ 

516-596-2910 

___________________________________________________ 

N/A 

Reference No. 2 – Repeat customer with long term or repeat contracts 


___________________________________________________ 

Milwaukee Public Schools 


P.O. ___________________________________________________ 

Box 2181, Milwaukee, WI 53201 


Hours firm can be reached : ___________________________________________________ 

8:00 a.m. - 4:30 p.m. CT 


___________________________________________________ 

Full Banking Services and Purchasing Card







___________________________________________________ 

Since 2006 

___________________________________________________ 

Dave Kirchgessner 

___________________________________________________ 

kirchge@milwaukee.k12.wi.us 

___________________________________________________ 

414-475-8956 

___________________________________________________ 

414-475-8387 

___________________________________________________ 

N/A 



___________________________________________________ 

Houston Independent School District 


___________________________________________________ 

4400 West 18th St., Houston, TX 77092 

Phone Number of firm: 

Hours firm can be reached : 

713-556-6487 

___________________________________________________ 

8:00 a.m. - 5:00 p.m. CT 


___________________________________________________ 

Comprehensive Treasury Services 







___________________________________________________ 

Since 2005, re-awarded July 2011 

___________________________________________________ 

Rick Fairman 

___________________________________________________ 

rfairman@houstonisd.org 

___________________________________________________ 

713-556-6487 

___________________________________________________ 

713-556-6412 

___________________________________________________ 

N/A 



___________________________________________________ 

Lakeland Central School District 


___________________________________________________ 

1086 East Main St., Shrub Oak, NY 10588 


Hours firm can be reached : ___________________________________________________ 

9:00 a.m. - 5:00 p.m. ET 


___________________________________________________ 

General Banking Services 





___________________________________________________ 

Since 1965 

___________________________________________________ 

Binoy Alunkal 

___________________________________________________ 

balunkal@lakelandschools.org 

___________________________________________________ 

914-245-1700 X 208



___________________________________________________ 

914-245-4391 

___________________________________________________ 

N.A. 

Reference No. 5 – Previous customer with no current contracts 


See ___________________________________________________ 

below* 


___________________________________________________ 

Phone Number of firm: 

Hours firm can be reached : 

___________________________________________________ 


___________________________________________________ 







___________________________________________________ 

___________________________________________________ 

___________________________________________________ 

___________________________________________________ 

___________________________________________________ 

___________________________________________________ 

*J.P. Morgan considers information about our clients proprietary and highly confidential. 

Therefore, we are not at liberty to disclose specific information about




15.0 Sample Reports and Contracts 

15.1 Provide a sample of all of the required service contracts for bank and custodial services. 

Please refer to Appendix 13 for “J.P. Morgan’s Sample Service Agreements.” 

15.2 Please provide samples of the following reports (paper or on-line reports) that you would propose to use 

in meeting the needs of the District, such as: 

a. Reconciliation Reports 

Please refer to Appendix 17 for “Sample Account Reconciliation Reports.” 

b. Daily Balance and Activity Reports 

Please refer to Appendix 11 for “J.P. Morgan ACCESS Sample Reports.” 

c. Repurchase Agreement Calculation Schedule 

Using the following calculation, the interest amount is calculated based on the invested balance 

which is typically the collected balance amount above a client set target balance held in the 

associated demand deposit account (DDA): 

Average Collected Balance x Repurchase Agreement Interest Rate # of Days in Month 

360 Days 

The target balance is typically set to the amount required to offset bank fees but could be any 

amount including zero. 

d. Monthly Bank and Analysis Statements 

Please refer to Appendix 18 for a sample “DDA statement", Appendix 19 for a sample “Custody 

statement” and Appendix 2 for the “Account Analysis User Guide.” 

e. Schedule of Collateral Pledged 

Please refer to Appendix 20 for a sample “Collateral statement.” 

15.3 Not limited to the following, please provide samples of the following agreements you would propose to 

use in conjunction with this engagement: 

a. Master Agreement 

b. Wire (Funds) Transfer Agreement 

c. ACH Agreement 

d. Zero Balance Account Agreement 

e. Sweep Investment Service Agreement 

f. Custodian Agreement 

Please refer to Appendix 13 for “J.P. Morgan’s Sample Service Agreements.” 





Forms 

Form 1. Debarment Certification 

Form 2. Area Representative 

Form 3. Drug Free Workplace Certification 

Form 4. Beneficial Interest and Disclosure of Ownership Affidavit


PURCHASING DEPARTMENT 

AREA REPRESENTATIVE 

RFP 12C-009C Banking Services 

Please list the contact for this contract 

Vendor Name: 

__________________________________ 

Area Representative: __________________________________ 

Address: 

City/Zip Code: 

Telephone: 

Fax Number: 

Cell or Nextel: 

Emergency Number: 

Email Address: 

__________________________________ 

__________________________________ 

__________________________________ 

__________________________________ 

__________________________________ 

__________________________________ 

__________________________________




Appendices 

Appendix 1. Availability Schedules 

Appendix 2. Account Analysis User Guide 

Appendix 3. Chase At Work Program 

Appendix 4. Purchasing Card Proposal 

Appendix 5. Sample Project Plan 

Appendix 6. Chase Branch Network 

Appendix 7. Business Resiliency Program 

Appendix 8. J.P. Morgan CRA Commitment 

Appendix 9. Deposit Preparation Guides 

Appendix 10. Deposit Bag Specifications 

Appendix 11. J.P. Morgan ACCESS Sample Reports 

Appendix 12. Chase Access Prepaid Card 

Appendix 13. Sample Service Agreements 

Appendix 14. Sample Account Analysis Invoice 

Appendix 15. Insurance Coverage 

Appendix 16. Custody Pricing Sources 

Appendix 17. Account Reconcilement Program 

Appendix 18. Sample DDA Statement 

Appendix 19. Sample Custody Statement 

Appendix 20. Sample Collateral Statement




Appendix 1. Availability Schedules

JPMorgan Chase 

Availability Schedule 

11-Sep


Availability Schedule Policy 

The availability of checks deposited is based on the financial institution where the check is 

• Deadlines in this schedule apply to pre-encoded, image cash letter deposits that 

are transmitted directly to JPMorgan Chase. The availability for all other deposits 

is based on capture time at the regional processing center. 

• The Federal Reserve banking system does not allow forward processing of any 

check item over $99,999,999.99. JPMorgan Chase will handle any such item as a 

collection item, with customer credit and availability deferred accordingly. 

• Availability schedules may be changed without notification. 

• The information furnished herein by JPMorgan Chase is CONFIDENTIAL and is 

distributed for the exclusive use in evaluating JPMorgan Chase programs and shall 

not be duplicated, published, or disclosed in whole or part, to any other person or 

entity other than the recipient, or used for other purposes, without the prior 

written permission of JPMorgan Chase.

FLORIDA/GEORGIA AVAILABILITY SCHEDULE 

Sorted by Transit Routing Number 

Sep-11 

TRANSIT ROUTING NUMBER(S) DESCRIPTION AVAILABILITY 

0000-0020, 0000-0119, 0000-0800 Postal Money Orders 1 

0000-0050, 0000-0051 U.S. Treasury Warrants 1 

0000-9000 E-Z Clear Bonds 1 

0110, 0112, 0113, 0114, 0115 Boston RCPC 2 

0111, 0116, 0117, 0118, 0119, 0211 Windsor Locks RCPC 2 

0210, 0220, 0260, 0280 EROC RCPC 2 

0212, 0214, 0219 EROC RCPC 2 

0213, 0223 Utica RCPC 2 

0215, 0216 EROC Country 2 

0310, 0311, 0312, 0313, 0319, 0360 Philadelphia RCPC 2 

0410 Cleveland City 2 

0412 Cleveland RCPC 2 

0420, 0421, 0422, 0423 Cincinnati RCPC 2 

0430, 0432, 0433, 0434 Pittsburgh RCPC 2 

0440, 0441, 0442 Columbus RCPC 2 

0510, 0514 Richmond RCPC 2 

0515, 0519 Charleston RCPC 2 

0520 Baltimore RCPC 2 

0521, 0522, 0540, 0550, 0560, 0570 Baltimore RCPC 2 

0530, 0531 Charlotte RCPC 2 

0532, 0539 Columbia RCPC 2 

0610, 0611, 0612, 0613 Atlanta RCPC 2 

0620, 0621, 0622 Birmingham RCPC 2 

0630, 0631, 0632 Jacksonville RCPC 2 

0640, 0641, 0642 Nashville RCPC 2 

0650, 0651, 0652, 0653, 0654, 0655 New Orleans RCPC 2 

0660, 0670 Miami RCPC 2 

0710, 0711, 0712, 0719 Chicago RCPC 2 

0720, 0724 Detroit RCPC 2 

0730, 0739 Des Moines RCPC 2 

0740, 0749 Indianapolis RCPC 2 

0750, 0759 Milwaukee RCPC 2 

0830 Louisville RCPC 2 

0813, 0839, 0863 Louisville RCPC 2 

CONFIDENTIAL 

A JPMorganChase Company 1 of 2 FLGA 601C

FLORIDA/GEORGIA AVAILABILITY SCHEDULE 


Sep-11 

TRANSIT ROUTING NUMBER(S) DESCRIPTION AVAILABILITY 

0810, 0812, 0815, 0819, 0865 St. Louis RCPC 2 

0820, 0829 Little Rock RCPC 2 

0840, 0841, 0842, 0843 Memphis RCPC 2 

0910, 0918, 0919, 0960 Minneapolis RCPC 2 

0911, 0912, 0913, 0914, 0915 Minneapolis Country 2 

0921 Helena Country 2 

0920, 0929 Helena RCPC 2 

1010, 1011, 1012, 1019 Kansas City RCPC 2 

1020, 1070 Denver RCPC 2 

1021, 1022, 1023 Denver Country 2 

1030, 1039 Oklahoma RCPC 2 

1031 Oklahoma Country 2 

1040, 1049 Omaha RCPC 2 

1041 Omaha Country 2 

1110, 1111, 1119 Dallas RCPC 2 

1113 Dallas Country 2 

1120, 1122, 1123, 1163 El Paso RCPC 2 

1130, 1131 Houston RCPC 2 

1140, 1149 San Antonio RCPC 2 

1210, 1211, 1212, 1213 San Francisco RCPC 2 

1214 San Francisco Country 2 

1220, 1221, 1223 Los Angeles RCPC 2 

1222, 1224 Los Angeles RCPC 2 

1230, 1231, 1232, 1233 Portland RCPC 2 

1240, 1241, 1242, 1243 Salt Lake RCPC 2 

1250, 1251, 1252 Seattle RCPC 2 

8000 Travelers Checks 2 

0610-9238, 0710-0001, 0710-0077, 

0740-0001, 0750-0001, 0830-0013, 

2631-8986, 2670-8413, 2670-9126 

On Us 0 

CONFIDENTIAL 

A JPMorganChase Company 2 of 2 FLGA 601C


Availability Schedule 

Corporate IDD 

Jan-12

JPMorgan Chase Image Deposit Direct (IDD) 

Availability Schedule Policy 

The availability of checks deposited is based on the financial institution where the check is drawn 

and the location where the deposit is made. Please note: 

• Deadlines in this schedule apply to image cash letter deposits that are transmitted 

directly to JPMorgan Chase. 

• The Federal Reserve banking system does not allow forward processing of any check item 

over $99,999,999.99. JPMorgan Chase will handle any such item as a collection item, 

with customer credit and availability deferred accordingly. 

• Availability schedules may be changed without notification. 

• The information furnished herein by JPMorgan Chase is CONFIDENTIAL and is distributed 

for the exclusive use in evaluating JPMorgan Chase programs and shall not be duplicated, 

published, or disclosed in whole or part, to any other person or entity other than the 

recipient, or used for other purposes, without the prior written permission of JPMorgan 

Chase.

Corporate Premium IDD - C; 601 

Availability is shown as Current Day Cycle 

Routing Transit Number(s) Description Deadline Avl Fraction 

JPMC On Us RTs See "On Us" tab 7:00 PM 1 100% 

JPMC Controlled Disbursement RTs See "On Us" tab 7:00 PM 1 100% 

0000-0020, 0119, 0800 Postal Money Orders 7:00 PM 1 100% 

0000-0050, 0051 US Treasury 7:00 PM 1 100% 

0000-9000 Savings Bonds 7:00 PM 1 100% 

0110, 0112, 0113, 0114, 0115 Boston RCPC 7:00 PM 1 70% 

0111, 0116, 0117, 0118, 0119, 0211 Windsor Locks RCPC 7:00 PM 1 70% 

0210, 0212, 0214, 0219, 0260 , 0280 EROC (New York) RCPC 7:00 PM 1 70% 

0213, 0220, 0223 Utica RCPC 7:00 PM 1 70% 

0215, 0216 EROC Country 7:00 PM 2 100% 

0310, 0360 Philadelphia City 7:00 PM 1 70% 

0311, 0312, 0313, 0319 Philadelphia RCPC 7:00 PM 1 70% 

0410 Cleveland City 7:00 PM 1 70% 

0412 Cleveland RCPC 7:00 PM 1 70% 

0420, 0421, 0422, 0423 Cincinnati RCPC 7:00 PM 1 70% 

0430, 0432, 0433, 0434 Pittsburgh RCPC 7:00 PM 1 70% 

0440, 0441, 0442 Columbus RCPC 7:00 PM 1 70% 

0510, 0514 Richmond RCPC 7:00 PM 1 70% 

0515, 0519 Charleston RCPC 7:00 PM 1 70% 

0520, 0521, 0522 Baltimore RCPC 7:00 PM 1 70% 

0540, 0550, 0560, 0570 Baltimore RCPC 7:00 PM 1 70% 

0530, 0531 Charlotte RCPC 7:00 PM 1 70% 

0532, 0539 Columbia RCPC 7:00 PM 1 70% 

0610 Atlanta City 7:00 PM 1 70% 

0611, 0612, 0613 Atlanta RCPC 7:00 PM 1 70% 

0620, 0621, 0622 Birmingham RCPC 7:00 PM 1 70% 

0630, 0631, 0632 Jacksonville RCPC 7:00 PM 1 70% 

0640, 0641, 0642 Nashville RCPC 7:00 PM 1 70% 

0650, 0651, 0652, 0653, 0654, 0655 New Orleans RCPC 7:00 PM 1 70% 

0660, 0670 Miami RCPC 7:00 PM 1 70% 

0710 Chicago City 7:00 PM 1 70% 

0711, 0712, 0719 Chicago RCPC 7:00 PM 1 70% 

0720, 0724 Detroit RCPC 7:00 PM 1 70%

0730, 0739 Des Moines RCPC 7:00 PM 1 70% 

0740, 0749 Indianapolis RCPC 7:00 PM 1 70% 

0750, 0759 Milwaukee RCPC 7:00 PM 1 70% 

0810 St. Louis City 7:00 PM 1 70% 

0812, 0815, 0819, 0865 St. Louis RCPC 7:00 PM 2 100% 

0813, 0830, 0839, 0863 Louisville RCPC 7:00 PM 1 70% 

0820, 0829 Little Rock RCPC 7:00 PM 1 70% 

0840, 0841, 0842, 0843 Memphis RCPC 7:00 PM 1 70% 

0910, 0960 Minneapolis City 7:00 PM 1 70% 

0911, 0912, 0913, 0914, 0915 Minneapolis Country 7:00 PM 2 100% 

0918, 0919 Minneapolis RCPC 7:00 PM 1 70% 

0920, 0929 Helena RCPC 7:00 PM 1 70% 

0921 Helena Country 7:00 PM 1 70% 

1010 Kansas City City 7:00 PM 1 70% 

1011, 1012, 1019 Kansas City RCPC 7:00 PM 2 100% 

1020 Denver City 7:00 PM 1 70% 

1021, 1022, 1023 Denver Country 7:00 PM 2 100% 

1030, 1039 Oklahoma City RCPC 7:00 PM 1 70% 

1031 Oklahoma City Country 7:00 PM 2 100% 

1040, 1049 Omaha RCPC 7:00 PM 1 70% 

1041 Omaha Country 7:00 PM 2 100% 

1070 Denver RCPC 7:00 PM 1 70% 

1110 Dallas City 7:00 PM 1 70% 

1111, 1119 Dallas RCPC 7:00 PM 1 70% 

1113 Dallas Country 7:00 PM 2 100% 

1120, 1122, 1123, 1163 El Paso RCPC 7:00 PM 1 70% 

1130, 1131 Houston RCPC 7:00 PM 1 70% 

1140, 1149 San Antonio RCPC 7:00 PM 1 70% 

1210, 1211, 1212, 1213 San Francisco RCPC 7:00 PM 1 70% 

1214 San Francisco Country 7:00 PM 3 70% 

1220, 1223 Los Angeles City 7:00 PM 1 70% 

1221, 1222, 1224 Los Angeles RCPC 7:00 PM 1 70% 

1230, 1231, 1232, 1233 Portland RCPC 7:00 PM 1 70% 

1240, 1241, 1242, 1243 Salt Lake City RCPC 7:00 PM 1 70% 

1250 Seattle City 7:00 PM 1 70% 

1251, 1252 Seattle RCPC 7:00 PM 1 70%

ON US 

Nationwide On Us RTs 

0210‐0002 0219‐1162 0670‐1310 1020‐0101 1221‐0229 2670‐8413 

0210‐0012 0223‐0017 0710‐0001 1030‐0064 1222‐8706 2670‐9083 

0210‐0023 0280‐0001 0710‐0077 1030‐0081 1232‐7197 2670‐9126 

0210‐0030 0280‐0002 0710‐7452 1070‐0035 1240‐0154 3211‐8074 

0211‐0036 0280‐0012 0711‐0026 1070‐8955 2212‐7025 3222‐7008 

0211‐1420 0280‐0030 0711‐2143 1110‐0061 2212‐7055 3222‐7162 

0212‐0233 0412‐0497 0720‐0032 1110‐0115 2212‐7117 3222‐8621 

0212‐0271 0432‐0240 0724‐1279 1111‐0002 2212‐7153 3243‐7050 

0212‐1008 0440‐0003 0740‐0001 1119‐9377 2260‐7009 3243‐7060 

0212‐7272 0519‐0036 0750‐0001 1120‐0015 2260‐7029 3250‐7076 

0214‐0903 0610‐9238 0750‐1266 1130‐0060 2260‐7069 3250‐7095 

0214‐1058 0631‐0836 0830‐0013 1131‐9372 2260‐7074 

0214‐1063 0654‐0013 0830‐0610 1221‐0002 2631‐8986 

Nationwide CD RTs 

0213‐0046 0311‐0023 0441‐1368 0719‐1904 0759‐0272 1113‐0088 

0213‐0937 0311‐0026 0441‐1544 0719‐2322 1020‐0097 1131‐0140 

0213‐0943 0311‐0028 0441‐1551 0724‐1292 1070‐0109 8000‐0011 

0220‐0084 0440‐0080 0652‐0475

TREASURY SERVICES 

Wholesale Image Lockbox Services 

J.P. Morgan 

Accelerated Availability 

Schedule 

CHARLOTTE, NORTH CAROLINA 


©2010 JPMorgan Chase & Co. All Rights Reserved. JPMorgan Chase Bank, N.A. Member FDIC. All services are subject to applicable laws and regulations and service terms. Not all products 

and services are available in all geographic areas. Eligibility for particular products and services is subject to final determination by J.P. Morgan and or its affiliates/subsidiaries.

J.P. Morgan Accelerated Availability Schedule 


Transit Routing 

Number 

Deadline 

(Military Time) 

MONDAY - FRIDAY SATURDAY SUNDAY 

Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

00000020 1400 0 1.00 0 1.00 0 1.00 

00000050 1400 0 1.00 0 1.00 0 1.00 

00000051 1400 0 1.00 0 1.00 0 1.00 

00000119 1400 0 1.00 0 1.00 0 1.00 

00000800 1400 0 1.00 0 1.00 0 1.00 

00009000 1400 0 1.00 0 1.00 0 1.00 

0110XXXX 2300 0 0.95 0 0.95 0 0.95 

0111XXXX 1430 1 0.95 0 0.95 1 0.95 

0112XXXX 2300 1 0.95 0 0.95 1 0.95 

0113XXXX 1430 1 0.95 0 0.95 1 0.95 

0114XXXX 1430 1 0.95 0 0.95 1 0.95 

0115XXXX 1430 1 0.95 0 0.95 1 0.95 

0116XXXX 2300 1 0.95 0 0.95 1 0.95 

0117XXXX 2300 1 0.95 0 0.95 1 0.95 

0118XXXX 1430 1 0.95 0 0.95 1 0.95 

0119XXXX 1430 1 0.95 0 0.95 1 0.95 

02100001 0400 0 0.95 0 0.95 0 0.95 

02100002 1600 0 1.00 0 1.00 0 1.00 

02100008 0400 0 0.95 0 0.95 0 0.95 

02100012 1600 0 1.00 0 1.00 0 1.00 

02100023 1600 0 1.00 0 1.00 0 1.00 

02100030 1600 0 1.00 0 1.00 0 1.00 

02100067 0400 0 0.95 0 0.95 0 0.95 

0210XXXX 2300 0 0.95 0 0.95 0 0.95 

02110036 1600 0 1.00 0 1.00 0 1.00 

02111420 1600 0 1.00 0 1.00 0 1.00 

0211XXXX 1430 1 0.95 0 0.95 1 0.95 

02120233 1600 0 1.00 0 1.00 0 1.00 

02120271 1600 0 1.00 0 1.00 0 1.00 

02121008 1600 0 1.00 0 1.00 0 1.00 

02127272 1600 0 1.00 0 1.00 0 1.00 

0212XXXX 1430 1 0.95 0 0.95 1 0.95 

02130046 1600 0 1.00 0 1.00 0 1.00 

02130539 1600 0 1.00 0 1.00 0 1.00 

02130937 0400 0 1.00 0 1.00 0 1.00 

02130943 1600 0 1.00 0 1.00 0 1.00 

0213XXXX 2300 0 0.95 0 0.95 0 0.95 

02140903 1600 0 1.00 0 1.00 0 1.00 

02141058 1600 0 1.00 0 1.00 0 1.00 

02141063 1600 0 1.00 0 1.00 0 1.00 

0214XXXX 1430 1 0.95 0 0.95 1 0.95 

0215XXXX 2300 1 0.95 0 0.95 1 0.95 

0216XXXX 2300 1 0.95 0 0.95 1 0.95 

02191162 1600 0 1.00 0 1.00 0 1.00 

0219XXXX 1600 1 0.95 0 0.95 1 0.95 

02200084 1600 0 1.00 0 1.00 0 1.00 

0220XXXX 1600 1 0.95 0 0.95 1 0.95 

NC-2 CONFIDENTIAL | 2




Number 

Deadline 



Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

02230017 1600 0 1.00 0 1.00 0 1.00 

0223XXXX 1430 1 0.95 0 0.95 1 0.95 

0260XXXX 2000 0 0.95 0 0.95 0 0.95 

02800001 1600 0 1.00 0 1.00 0 1.00 

02800002 1600 0 1.00 0 1.00 0 1.00 

02800012 1600 0 1.00 0 1.00 0 1.00 

02800030 1600 0 1.00 0 1.00 0 1.00 

0280XXXX 2000 0 0.95 0 0.95 0 0.95 

03100001 0400 0 0.95 0 0.95 0 0.95 

03100003 0400 0 0.95 0 0.95 0 0.95 

0310XXXX 2300 0 0.95 0 0.95 0 0.95 

03110026 0400 0 1.00 0 1.00 0 1.00 

03110028 0400 0 1.00 0 1.00 0 1.00 

0311XXXX 2300 0 0.95 0 0.95 0 0.95 

0312XXXX 1600 1 0.95 0 0.95 1 0.95 

0313XXXX 1600 1 0.95 0 0.95 1 0.95 

0319XXXX 1600 1 0.95 0 0.95 1 0.95 

0360XXXX 2300 0 0.95 0 0.95 0 0.95 

04100012 0400 0 0.95 0 0.95 0 0.95 

04100068 0400 0 0.95 0 0.95 0 0.95 

04100103 0400 0 0.95 0 0.95 0 0.95 

0410XXXX 2300 0 0.95 0 0.95 0 0.95 

04120497 1600 0 1.00 0 1.00 0 1.00 

0412XXXX 1600 1 0.95 0 0.95 1 0.95 

04200031 0400 0 0.95 0 0.95 0 0.95 

04200039 0400 0 0.95 0 0.95 0 0.95 

04200042 0400 0 0.95 0 0.95 0 0.95 

0420XXXX 2300 0 0.95 0 0.95 0 0.95 

0421XXXX 1600 1 0.95 0 0.95 1 0.95 

0422XXXX 1600 1 0.95 0 0.95 1 0.95 

0423XXXX 1600 1 0.95 0 0.95 1 0.95 

04300009 0400 0 0.95 0 0.95 0 0.95 

04300026 0400 0 0.95 0 0.95 0 0.95 

0430XXXX 2300 0 0.95 0 0.95 0 0.95 

04320240 1600 0 1.00 0 1.00 0 1.00 

0432XXXX 1600 1 0.95 0 0.95 1 0.95 

0433XXXX 2300 0 0.95 0 0.95 0 0.95 

0434XXXX 2000 0 0.95 0 0.95 0 0.95 

04400002 0400 0 0.95 0 0.95 0 0.95 

04400003 1600 0 1.00 0 1.00 0 1.00 

0440XXXX 2300 0 0.95 0 0.95 0 0.95 

04411368 0400 0 1.00 0 1.00 0 1.00 

04411544 0400 0 1.00 0 1.00 0 1.00 

0441XXXX 1600 1 0.95 0 0.95 1 0.95 

0442XXXX 1600 1 0.95 0 0.95 1 0.95 

05100002 0400 0 0.95 0 0.95 0 0.95 

0510XXXX 2300 0 0.95 0 0.95 0 0.95 





Number 

Deadline 



Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

0514XXXX 2300 0 0.95 0 0.95 0 0.95 

05150124 1600 0 1.00 0 1.00 0 1.00 

0515XXXX 2000 0 0.95 0 0.95 0 0.95 

05190036 1600 0 1.00 0 1.00 0 1.00 

0519XXXX 2300 0 0.95 0 0.95 0 0.95 

05200001 0400 0 0.95 0 0.95 0 0.95 

05200011 0400 0 0.95 0 0.95 0 0.95 

0520XXXX 2300 0 0.95 0 0.95 0 0.95 

0521XXXX 2000 0 0.95 0 0.95 0 0.95 

0522XXXX 2000 0 0.95 0 0.95 0 0.95 

05300018 0700 0 1.00 0 1.00 0 1.00 

05300019 0700 0 1.00 0 1.00 0 1.00 

05300021 0700 0 1.00 0 1.00 0 1.00 

05300385 0700 0 1.00 0 1.00 0 1.00 

0530XXXX 0400 0 1.00 0 1.00 0 1.00 

05310049 0400 0 1.00 0 1.00 0 1.00 

05310139 0400 0 1.00 0 1.00 0 1.00 

05310763 0400 0 1.00 0 1.00 0 1.00 

05310798 0400 0 1.00 0 1.00 0 1.00 

0531XXXX 2300 0 1.00 0 1.00 0 1.00 

05320001 0400 0 0.95 0 0.95 0 0.95 

0532XXXX 2300 0 0.95 0 0.95 0 0.95 

0539XXXX 2300 0 0.95 0 0.95 0 0.95 

05400003 0400 0 0.95 0 0.95 0 0.95 

05400004 0400 0 0.95 0 0.95 0 0.95 

0540XXXX 2300 0 0.95 0 0.95 0 0.95 

0550XXXX 2000 0 0.95 0 0.95 0 0.95 

0560XXXX 2000 0 0.95 0 0.95 0 0.95 

0570XXXX 2000 0 0.95 0 0.95 0 0.95 

06100001 0400 0 0.95 0 0.95 0 0.95 

06100005 0400 0 0.95 0 0.95 0 0.95 

06100010 0400 0 0.95 0 0.95 0 0.95 

06100022 0400 0 0.95 0 0.95 0 0.95 

06100025 0400 0 0.95 0 0.95 0 0.95 

06101022 0400 0 0.95 0 0.95 0 0.95 

06109238 1600 0 1.00 0 1.00 0 1.00 

0610XXXX 2300 0 0.95 0 0.95 0 0.95 

0611XXXX 2300 0 0.95 0 0.95 0 0.95 

0612XXXX 2000 0 0.95 0 0.95 0 0.95 

0613XXXX 2000 0 0.95 0 0.95 0 0.95 

06200008 0400 0 0.95 0 0.95 0 0.95 

0620XXXX 2300 0 0.95 0 0.95 0 0.95 

0621XXXX 2000 0 0.95 0 0.95 0 0.95 

0622XXXX 2000 0 0.95 0 0.95 0 0.95 

06300004 0400 0 0.95 0 0.95 0 0.95 

06300005 0400 0 0.95 0 0.95 0 0.95 

0630XXXX 2300 0 0.95 0 0.95 0 0.95 





Number 

Deadline 



Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

06310836 1600 0 1.00 0 1.00 0 1.00 

0631XXXX 2300 0 0.95 0 0.95 0 0.95 

0632XXXX 2000 0 0.95 0 0.95 0 0.95 

06400001 0400 0 0.95 0 0.95 0 0.95 

0640XXXX 2300 0 0.95 0 0.95 0 0.95 

0641XXXX 2000 0 0.95 0 0.95 0 0.95 

0642XXXX 2000 0 0.95 0 0.95 0 0.95 

0650XXXX 2300 0 0.95 0 0.95 0 0.95 

0651XXXX 2000 0 0.95 0 0.95 0 0.95 

06520475 0400 0 1.00 0 1.00 0 1.00 

0652XXXX 1600 1 0.95 0 0.95 1 0.95 

0653XXXX 2000 0 0.95 0 0.95 0 0.95 

06540013 1600 0 1.00 0 1.00 0 1.00 

0654XXXX 1600 1 0.95 0 0.95 1 0.95 

0655XXXX 2000 0 0.95 0 0.95 0 0.95 

06600436 0400 0 0.95 0 0.95 0 0.95 

06600512 0400 0 0.95 0 0.95 0 0.95 

0660XXXX 2300 0 0.95 0 0.95 0 0.95 

06701310 1600 0 1.00 0 1.00 0 1.00 

0670XXXX 2000 0 0.95 0 0.95 0 0.95 

07100001 1600 0 1.00 0 1.00 0 1.00 

07100003 0400 0 0.95 0 0.95 0 0.95 

07100015 0400 0 0.95 0 0.95 0 0.95 

07100028 0400 0 0.95 0 0.95 0 0.95 

07100050 0400 0 0.95 0 0.95 0 0.95 

07100054 0400 0 0.95 0 0.95 0 0.95 

07100077 1600 0 1.00 0 1.00 0 1.00 

07107452 1600 0 1.00 0 1.00 0 1.00 

0710XXXX 2300 0 0.95 0 0.95 0 0.95 

07110026 1600 0 1.00 0 1.00 0 1.00 

07112143 1600 0 1.00 0 1.00 0 1.00 

0711XXXX 1600 1 0.95 0 0.95 1 0.95 

0712XXXX 1600 1 0.95 0 0.95 1 0.95 

07191904 0400 0 1.00 0 1.00 0 1.00 

07192322 0400 0 1.00 0 1.00 0 1.00 

0719XXXX 2300 0 0.95 0 0.95 0 0.95 

07200032 1600 0 1.00 0 1.00 0 1.00 

0720XXXX 2300 0 0.95 0 0.95 0 0.95 

07241279 1600 0 1.00 0 1.00 0 1.00 

07241292 0400 0 1.00 0 1.00 0 1.00 

0724XXXX 2000 0 0.95 0 0.95 0 0.95 

0730XXXX 2300 0 0.95 0 0.95 0 0.95 

0739XXXX 2300 1 0.95 0 0.95 1 0.95 

07400001 1600 0 1.00 0 1.00 0 1.00 

07400005 0400 0 0.95 0 0.95 0 0.95 

07400006 0400 0 0.95 0 0.95 0 0.95 

0740XXXX 2300 0 0.95 0 0.95 0 0.95 





Number 

Deadline 



Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

0749XXXX 1430 1 0.95 0 0.95 1 0.95 

07500001 1600 0 1.00 0 1.00 0 1.00 

07501266 1600 0 1.00 0 1.00 0 1.00 

0750XXXX 2300 0 0.95 0 0.95 0 0.95 

07590272 0400 0 1.00 0 1.00 0 1.00 

0759XXXX 1430 1 0.95 0 0.95 1 0.95 

08100003 0400 0 0.95 0 0.95 0 0.95 

08100005 0400 0 0.95 0 0.95 0 0.95 

08100021 0400 0 0.95 0 0.95 0 0.95 

0810XXXX 2300 0 0.95 0 0.95 0 0.95 

0812XXXX 2300 1 0.95 0 0.95 1 0.95 

0813XXXX 1600 1 0.95 0 0.95 1 0.95 

0815XXXX 2000 1 0.95 0 0.95 1 0.95 

0819XXXX 2300 1 0.95 0 0.95 1 0.95 

08200010 0400 0 0.95 0 0.95 0 0.95 

0820XXXX 2300 0 0.95 0 0.95 0 0.95 

0829XXXX 2300 1 0.95 0 0.95 1 0.95 

08300005 0400 0 0.95 0 0.95 0 0.95 

08300010 0400 0 0.95 0 0.95 0 0.95 

08300013 1600 0 1.00 0 1.00 0 1.00 

08300610 1600 0 1.00 0 1.00 0 1.00 

0830XXXX 2300 0 0.95 0 0.95 0 0.95 

0839XXXX 2000 0 0.95 0 0.95 0 0.95 

08400001 0400 0 0.95 0 0.95 0 0.95 

08400002 0400 0 0.95 0 0.95 0 0.95 

08400008 0400 0 0.95 0 0.95 0 0.95 

08400093 0400 0 0.95 0 0.95 0 0.95 

0840XXXX 2300 0 0.95 0 0.95 0 0.95 

0841XXXX 1600 1 0.95 0 0.95 1 0.95 

0842XXXX 2000 0 0.95 0 0.95 0 0.95 

0843XXXX 2000 0 0.95 0 0.95 0 0.95 

0863XXXX 1600 1 0.95 0 0.95 1 0.95 

0865XXXX 2300 1 0.95 0 0.95 1 0.95 

09100001 0400 0 0.95 0 0.95 0 0.95 

0910XXXX 2300 0 0.95 0 0.95 0 0.95 

0911XXXX 2300 1 0.95 1 0.95 1 0.95 

0912XXXX 2300 1 0.95 1 0.95 1 0.95 

0913XXXX 2300 1 0.95 1 0.95 1 0.95 

0914XXXX 2300 1 0.95 1 0.95 1 0.95 

0915XXXX 2300 1 0.95 1 0.95 1 0.95 

0918XXXX 1430 1 0.95 0 0.95 1 0.95 

0919XXXX 1430 1 0.95 0 0.95 1 0.95 

0920XXXX 1600 1 0.95 0 0.95 1 0.95 

0921XXXX 2000 1 0.95 1 0.95 1 0.95 

0929XXXX 1600 1 0.95 1 0.95 1 0.95 

0960XXXX 2300 0 0.95 0 0.95 0 0.95 

10100001 0400 0 0.95 0 0.95 0 0.95 





Number 

Deadline 



Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

1010XXXX 2300 0 0.95 0 0.95 0 0.95 

1011XXXX 0400 1 0.95 0 0.95 1 0.95 

1012XXXX 0400 1 0.95 0 0.95 1 0.95 

1019XXXX 0400 1 0.95 0 0.95 1 0.95 

10200101 1600 0 1.00 0 1.00 0 1.00 

1020XXXX 2300 0 0.95 0 0.95 0 0.95 

1021XXXX 0400 1 0.95 0 0.95 1 0.95 

1022XXXX 2000 1 0.95 0 0.95 1 0.95 

1023XXXX 2000 1 0.95 0 0.95 1 0.95 

10300064 1600 0 1.00 0 1.00 0 1.00 

10300081 1600 0 1.00 0 1.00 0 1.00 

1030XXXX 2300 0 0.95 0 0.95 0 0.95 

1031XXXX 2300 1 0.95 0 0.95 1 0.95 

1039XXXX 1430 1 0.95 0 0.95 1 0.95 

1040XXXX 2300 0 0.95 0 0.95 0 0.95 

1041XXXX 2000 1 0.95 1 0.95 1 0.95 

1049XXXX 2300 1 0.95 0 0.95 1 0.95 

10700035 1600 0 1.00 0 1.00 0 1.00 

10708955 1600 0 1.00 0 1.00 0 1.00 

1070XXXX 2300 1 0.95 0 0.95 1 0.95 

11100002 0400 0 0.95 0 0.95 0 0.95 

11100061 1600 0 1.00 0 1.00 0 1.00 

11100115 1600 0 1.00 0 1.00 0 1.00 

1110XXXX 2300 0 0.95 0 0.95 0 0.95 

11110002 1600 0 1.00 0 1.00 0 1.00 

1111XXXX 1600 1 0.95 0 0.95 1 0.95 

11130088 0400 0 1.00 0 1.00 0 1.00 

1113XXXX 0400 1 0.95 0 0.95 1 0.95 

11199377 1600 0 1.00 0 1.00 0 1.00 

1119XXXX 1430 1 0.95 0 0.95 1 0.95 

11200015 1600 0 1.00 0 1.00 0 1.00 

1120XXXX 2300 0 0.95 0 0.95 0 0.95 

1122XXXX 0400 1 0.95 0 0.95 1 0.95 

1123XXXX 0400 1 0.95 0 0.95 1 0.95 

11300060 1600 0 1.00 0 1.00 0 1.00 

1130XXXX 2300 0 0.95 0 0.95 0 0.95 

11310140 0400 0 1.00 0 1.00 0 1.00 

11319372 1600 0 1.00 0 1.00 0 1.00 

1131XXXX 1430 1 0.95 0 0.95 1 0.95 

1140XXXX 2300 0 0.95 0 0.95 0 0.95 

11491978 1600 0 1.00 0 1.00 0 1.00 

1149XXXX 1430 1 0.95 0 0.95 1 0.95 

1163XXXX 0400 1 0.95 0 0.95 1 0.95 

12100035 0400 0 0.95 0 0.95 0 0.95 

12100057 0400 0 0.95 0 0.95 0 0.95 

1210XXXX 2300 0 0.95 0 0.95 0 0.95 

12114325 1600 0 1.00 0 1.00 0 1.00 





Number 

Deadline 



Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

12114507 1600 2 1.00 2 1.00 2 1.00 

1211XXXX 1430 1 0.95 0 0.95 1 0.95 

1212XXXX 1430 1 0.95 0 0.95 1 0.95 

1213XXXX 1430 1 0.95 0 0.95 1 0.95 

1214XXXX 2000 1 0.95 1 0.95 1 0.95 

12200004 0400 0 0.95 0 0.95 0 0.95 

12200021 0400 0 0.95 0 0.95 0 0.95 

12200024 0400 0 0.95 0 0.95 0 0.95 

12200066 0400 0 0.95 0 0.95 0 0.95 

12200105 0400 0 0.95 0 0.95 0 0.95 

1220XXXX 2300 0 0.95 0 0.95 0 0.95 

12210002 1600 0 1.00 0 1.00 0 1.00 

12210229 1600 0 1.00 0 1.00 0 1.00 

1221XXXX 1600 1 0.95 0 0.95 1 0.95 

12228706 1600 0 1.00 0 1.00 0 1.00 

1222XXXX 1430 1 0.95 0 0.95 1 0.95 

1223XXXX 1600 1 0.95 0 0.95 1 0.95 

12248749 1600 0 1.00 0 1.00 0 1.00 

1224XXXX 1430 1 0.95 0 0.95 1 0.95 

1230XXXX 2000 0 0.95 0 0.95 0 0.95 

1231XXXX 1430 1 0.95 0 0.95 1 0.95 

12327197 1600 0 1.00 0 1.00 0 1.00 

1232XXXX 1430 1 0.95 0 0.95 1 0.95 

1233XXXX 1430 1 0.95 0 0.95 1 0.95 

12400154 1600 0 1.00 0 1.00 0 1.00 

1240XXXX 2000 0 0.95 0 0.95 0 0.95 

1241XXXX 1430 1 0.95 0 0.95 1 0.95 

1242XXXX 1430 1 0.95 0 0.95 1 0.95 

1243XXXX 1430 1 0.95 0 0.95 1 0.95 

1250XXXX 2300 0 0.95 0 0.95 0 0.95 

1251XXXX 1430 1 0.95 0 0.95 1 0.95 

1252XXXX 1430 1 0.95 0 0.95 1 0.95 

2110XXXX 2300 0 0.95 0 0.95 0 0.95 

2111XXXX 1430 1 0.95 0 0.95 1 0.95 

2112XXXX 2300 1 0.95 0 0.95 1 0.95 

2113XXXX 1430 1 0.95 0 0.95 1 0.95 

2114XXXX 1430 1 0.95 0 0.95 1 0.95 

2115XXXX 1430 1 0.95 0 0.95 1 0.95 

2116XXXX 2300 1 0.95 0 0.95 1 0.95 

2117XXXX 2300 1 0.95 0 0.95 1 0.95 

2118XXXX 1430 1 0.95 0 0.95 1 0.95 

2119XXXX 1430 1 0.95 0 0.95 1 0.95 

2210XXXX 2300 0 0.95 0 0.95 0 0.95 

2211XXXX 1430 1 0.95 0 0.95 1 0.95 

22127025 1600 0 1.00 0 1.00 0 1.00 

22127055 1600 0 1.00 0 1.00 0 1.00 

22127117 1600 0 1.00 0 1.00 0 1.00 





Number 

Deadline 



Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

22127153 1600 0 1.00 0 1.00 0 1.00 

2212XXXX 1430 1 0.95 0 0.95 1 0.95 

2213XXXX 2300 0 0.95 0 0.95 0 0.95 

2214XXXX 1430 1 0.95 0 0.95 1 0.95 

2215XXXX 2300 1 0.95 0 0.95 1 0.95 

2216XXXX 2300 1 0.95 0 0.95 1 0.95 

2219XXXX 1600 1 0.95 0 0.95 1 0.95 

2220XXXX 1600 1 0.95 0 0.95 1 0.95 

2223XXXX 1430 1 0.95 0 0.95 1 0.95 

22607009 1600 0 1.00 0 1.00 0 1.00 

22607029 1600 0 1.00 0 1.00 0 1.00 

22607069 1600 0 1.00 0 1.00 0 1.00 

22607074 1600 0 1.00 0 1.00 0 1.00 

2260XXXX 2000 0 0.95 0 0.95 0 0.95 

2280XXXX 2000 0 0.95 0 0.95 0 0.95 

2310XXXX 2300 0 0.95 0 0.95 0 0.95 

2311XXXX 2300 0 0.95 0 0.95 0 0.95 

2312XXXX 1600 1 0.95 0 0.95 1 0.95 

2313XXXX 1600 1 0.95 0 0.95 1 0.95 

2319XXXX 1600 1 0.95 0 0.95 1 0.95 

2360XXXX 2300 0 0.95 0 0.95 0 0.95 

2410XXXX 2300 0 0.95 0 0.95 0 0.95 

2412XXXX 1600 1 0.95 0 0.95 1 0.95 

2420XXXX 2300 0 0.95 0 0.95 0 0.95 

2421XXXX 1600 1 0.95 0 0.95 1 0.95 

2422XXXX 1600 1 0.95 0 0.95 1 0.95 

2423XXXX 1600 1 0.95 0 0.95 1 0.95 

2430XXXX 2300 0 0.95 0 0.95 0 0.95 

2432XXXX 1600 1 0.95 0 0.95 1 0.95 

2433XXXX 2300 0 0.95 0 0.95 0 0.95 

2434XXXX 2000 0 0.95 0 0.95 0 0.95 

2440XXXX 2300 0 0.95 0 0.95 0 0.95 

2441XXXX 1600 1 0.95 0 0.95 1 0.95 

2442XXXX 1600 1 0.95 0 0.95 1 0.95 

2510XXXX 2300 0 0.95 0 0.95 0 0.95 

2514XXXX 2300 0 0.95 0 0.95 0 0.95 

2515XXXX 2000 0 0.95 0 0.95 0 0.95 

2519XXXX 2300 0 0.95 0 0.95 0 0.95 

2520XXXX 2300 0 0.95 0 0.95 0 0.95 

2521XXXX 2000 0 0.95 0 0.95 0 0.95 

2522XXXX 2000 0 0.95 0 0.95 0 0.95 

2530XXXX 0400 0 1.00 0 1.00 0 1.00 

2531XXXX 2300 0 1.00 0 1.00 0 1.00 

2532XXXX 2300 0 0.95 0 0.95 0 0.95 

2539XXXX 2300 0 0.95 0 0.95 0 0.95 

2540XXXX 2300 0 0.95 0 0.95 0 0.95 

2550XXXX 2000 0 0.95 0 0.95 0 0.95 





Number 

Deadline 



Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

2560XXXX 2000 0 0.95 0 0.95 0 0.95 

2570XXXX 2000 0 0.95 0 0.95 0 0.95 

2610XXXX 2300 0 0.95 0 0.95 0 0.95 

2611XXXX 2300 0 0.95 0 0.95 0 0.95 

2612XXXX 2000 0 0.95 0 0.95 0 0.95 

2613XXXX 2000 0 0.95 0 0.95 0 0.95 

2620XXXX 2300 0 0.95 0 0.95 0 0.95 

2621XXXX 2000 0 0.95 0 0.95 0 0.95 

2622XXXX 2000 0 0.95 0 0.95 0 0.95 

2630XXXX 2300 0 0.95 0 0.95 0 0.95 

26318986 1600 0 1.00 0 1.00 0 1.00 

2631XXXX 2300 0 0.95 0 0.95 0 0.95 

2632XXXX 2000 0 0.95 0 0.95 0 0.95 

2640XXXX 2300 0 0.95 0 0.95 0 0.95 

2641XXXX 2000 0 0.95 0 0.95 0 0.95 

2642XXXX 2000 0 0.95 0 0.95 0 0.95 

2650XXXX 2300 0 0.95 0 0.95 0 0.95 

2651XXXX 2000 0 0.95 0 0.95 0 0.95 

2652XXXX 1600 1 0.95 0 0.95 1 0.95 

2653XXXX 2000 0 0.95 0 0.95 0 0.95 

2654XXXX 1600 1 0.95 0 0.95 1 0.95 

2655XXXX 2000 0 0.95 0 0.95 0 0.95 

2660XXXX 2300 0 0.95 0 0.95 0 0.95 

26708413 1600 0 1.00 0 1.00 0 1.00 

26709083 1600 0 1.00 0 1.00 0 1.00 

26709126 1600 0 1.00 0 1.00 0 1.00 

2670XXXX 2000 0 0.95 0 0.95 0 0.95 

2710XXXX 2300 0 0.95 0 0.95 0 0.95 

2711XXXX 1600 1 0.95 0 0.95 1 0.95 

2712XXXX 1600 1 0.95 0 0.95 1 0.95 

2719XXXX 2300 0 0.95 0 0.95 0 0.95 

2720XXXX 2300 0 0.95 0 0.95 0 0.95 

2724XXXX 2000 0 0.95 0 0.95 0 0.95 

2730XXXX 2300 0 0.95 0 0.95 0 0.95 

2739XXXX 2300 1 0.95 0 0.95 1 0.95 

2740XXXX 2300 0 0.95 0 0.95 0 0.95 

2749XXXX 1430 1 0.95 0 0.95 1 0.95 

2750XXXX 2300 0 0.95 0 0.95 0 0.95 

2759XXXX 1430 1 0.95 0 0.95 1 0.95 

2810XXXX 2300 0 0.95 0 0.95 0 0.95 

2812XXXX 2300 1 0.95 0 0.95 1 0.95 

2813XXXX 1600 1 0.95 0 0.95 1 0.95 

2815XXXX 2000 1 0.95 0 0.95 1 0.95 

2819XXXX 2300 1 0.95 0 0.95 1 0.95 

2820XXXX 2300 0 0.95 0 0.95 0 0.95 

2829XXXX 2300 1 0.95 1 0.95 1 0.95 

2830XXXX 2300 0 0.95 0 0.95 0 0.95 





Number 

Deadline 



Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

2839XXXX 2000 0 0.95 0 0.95 0 0.95 

2840XXXX 2300 0 0.95 0 0.95 0 0.95 

2841XXXX 1600 1 0.95 0 0.95 1 0.95 

2842XXXX 2000 0 0.95 0 0.95 0 0.95 

2843XXXX 2000 0 0.95 0 0.95 0 0.95 

2863XXXX 1600 1 0.95 0 0.95 1 0.95 

2865XXXX 2300 1 0.95 0 0.95 1 0.95 

2910XXXX 2300 0 0.95 0 0.95 0 0.95 

2911XXXX 2300 1 0.95 1 0.95 1 0.95 

2912XXXX 2300 1 0.95 1 0.95 1 0.95 

2913XXXX 2300 1 0.95 1 0.95 1 0.95 

2914XXXX 2300 1 0.95 1 0.95 1 0.95 

2915XXXX 2300 1 0.95 1 0.95 1 0.95 

2918XXXX 1430 1 0.95 0 0.95 1 0.95 

2919XXXX 1430 1 0.95 0 0.95 1 0.95 

2920XXXX 1600 1 0.95 0 0.95 1 0.95 

2921XXXX 2000 1 0.95 1 0.95 1 0.95 

2929XXXX 1600 1 0.95 1 0.95 1 0.95 

2960XXXX 2300 0 0.95 0 0.95 0 0.95 

3010XXXX 2300 0 0.95 0 0.95 0 0.95 

3011XXXX 0400 1 0.95 0 0.95 1 0.95 

3012XXXX 0400 1 0.95 0 0.95 1 0.95 

3019XXXX 0400 1 0.95 0 0.95 1 0.95 

3020XXXX 2300 0 0.95 0 0.95 0 0.95 

3021XXXX 2000 1 0.95 0 0.95 1 0.95 

3022XXXX 2000 1 0.95 0 0.95 1 0.95 

3023XXXX 2000 1 0.95 0 0.95 1 0.95 

3030XXXX 2300 0 0.95 0 0.95 0 0.95 

3031XXXX 2300 1 0.95 0 0.95 1 0.95 

3039XXXX 1430 1 0.95 0 0.95 1 0.95 

3040XXXX 2300 0 0.95 0 0.95 0 0.95 

3041XXXX 2000 1 0.95 0 0.95 1 0.95 

3049XXXX 2300 1 0.95 0 0.95 1 0.95 

3070XXXX 2300 1 0.95 0 0.95 1 0.95 

3110XXXX 2300 0 0.95 0 0.95 0 0.95 

3111XXXX 1600 1 0.95 0 0.95 1 0.95 

3113XXXX 0400 1 0.95 0 0.95 1 0.95 

3119XXXX 1430 1 0.95 0 0.95 1 0.95 

3120XXXX 2300 0 0.95 0 0.95 0 0.95 

3122XXXX 0400 1 0.95 0 0.95 1 0.95 

3123XXXX 0400 1 0.95 0 0.95 1 0.95 

3130XXXX 2300 0 0.95 0 0.95 0 0.95 

3131XXXX 1430 1 0.95 0 0.95 1 0.95 

3140XXXX 2300 0 0.95 0 0.95 0 0.95 

3149XXXX 1430 1 0.95 0 0.95 1 0.95 

3163XXXX 0400 1 0.95 0 0.95 1 0.95 

3210XXXX 2300 0 0.95 0 0.95 0 0.95 





Number 

Deadline 



Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

32118074 1600 0 1.00 0 1.00 0 1.00 

3211XXXX 1430 1 0.95 0 0.95 1 0.95 

3212XXXX 1430 1 0.95 0 0.95 1 0.95 

3213XXXX 1430 1 0.95 0 0.95 1 0.95 

3214XXXX 2000 1 0.95 1 0.95 1 0.95 

3220XXXX 1600 1 0.95 0 0.95 1 0.95 

3221XXXX 1600 1 0.95 0 0.95 1 0.95 

32227008 1600 0 1.00 0 1.00 0 1.00 

32227162 1600 0 1.00 0 1.00 0 1.00 

32228621 1600 0 1.00 0 1.00 0 1.00 

3222XXXX 1430 1 0.95 0 0.95 1 0.95 

3223XXXX 1600 1 0.95 0 0.95 1 0.95 

3224XXXX 1430 1 0.95 0 0.95 1 0.95 

3230XXXX 2000 0 0.95 0 0.95 0 0.95 

3231XXXX 1430 1 0.95 0 0.95 1 0.95 

3232XXXX 1430 1 0.95 0 0.95 1 0.95 

3233XXXX 1430 1 0.95 0 0.95 1 0.95 

3240XXXX 2000 0 0.95 0 0.95 0 0.95 

3241XXXX 1430 1 0.95 0 0.95 1 0.95 

3242XXXX 1430 1 0.95 0 0.95 1 0.95 

32437050 1600 0 1.00 0 1.00 0 1.00 

32437060 1600 0 1.00 0 1.00 0 1.00 

3243XXXX 1430 1 0.95 0 0.95 1 0.95 

32507076 1600 0 1.00 0 1.00 0 1.00 

32507095 1600 0 1.00 0 1.00 0 1.00 

3250XXXX 2300 0 0.95 0 0.95 0 0.95 

3251XXXX 1430 1 0.95 0 0.95 1 0.95 

3252XXXX 1430 1 0.95 0 0.95 1 0.95 

77777777 1600 2 1.00 2 1.00 2 1.00 

80000001 1600 1 0.95 0 0.95 1 0.95 

80000002 1600 1 0.95 0 0.95 1 0.95 

80000005 1600 1 0.95 0 0.95 1 0.95 

80000006 1600 1 0.95 0 0.95 1 0.95 

80000008 1600 1 0.95 0 0.95 1 0.95 

80000010 1600 1 0.95 0 0.95 1 0.95 

80000011 1600 1 0.95 0 0.95 1 0.95 

8000XXXX 1600 2 1.00 2 1.00 2 1.00 





Number 

Deadline 



Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

Float 

(Days) 

Fractional 

Availability 

WHOLESALE LOCKBOX AVAILABILITY SCHEDULE DISCLAIMER 

The cutoff for same day ledger credit for deposits is 4:00 p.m. local time. Items processed for deposits after that deadline will be posted on the next 

business day. 

The Federal Reserve banking system does not allow forward processing of any check item over $99,999,999.99. JPMorgan Chase will handle any 

such item as a collection item, with customer credit and availability deferred accordingly. 

Availability schedules may be changed without notification. 

The information furnished herein by JPMorgan Chase is CONFIDENTIAL and is distributed for the exclusive use in evaluating JPMorgan Chase 

programs and shall not be duplicated, published, or disclosed in whole or part, to any other person or entity other than the recipient, or used for other 

purposes, without the prior written permission of JPMorgan. Deadline times do not apply to Saturday and Sunday deposits. As long as items are 

processed before end of day on each respective weekend day for which a lockbox is configured to be processed, Saturday and Sunday deposits will 

be assigned availability based on float stated in the Saturday or Sunday column. 





Appendix 2. Account Analysis User Guide

TREASURY SERVICES 

Account Analysis 

Statement Guide 

Portrait Format Statement

Account Analysis Statement Guide 

This guide is intended to provide information to help you understand each section of your Account 

Analysis statement(s). All balance terms, column headings and summary line items are defined in 

detail with clear cross references. 

Information About Statements 

Each month, you will receive a detailed Account Analysis statement for your account. If 

you have multiple accounts, you will receive a summary Account Analysis statement for 

your entire billing relationship in addition to a detailed Account Analysis statement for 

each individual account. 

Detailed Account Analysis Statement 

The detailed Account Analysis statement contains three sections: 

• Balance Analysis 

A concise monthly and average year-to-date summary of your average balances, 

service charges, and earnings allowance. This summary provides a step-by-step 

review of how your investable balance and earnings allowance were calculated. 

• Service Analysis 

A review of all services used during the month and the resulting service charge 

and balance equivalent. Services are grouped by product family. 

• Adjustment Pages 

To provide summary and detailed information related to your historical 

adjustments and financial impacts to your bill. 

Summary Account Analysis Statement 

The summary Account Analysis Statement contains four sections. In addition to the 

Balance Analysis, Service Analysis and Adjustment Analysis sections, the summary 

Account Analysis statement also contains a Relationship Account Summary, which 

is a list of all accounts included in your relationship summary. 

Account Analysis Definitions and Formulas 

1

Balance Analysis 

Summarizes your average monthly and year-to-date balances, service charges and earnings 

allowance. It provides a step-by-step review of how your investable balance and earnings 

allowance were calculated. In the following descriptions, the term “month” refers to the number 

of calendar days the account is open within the month. 

1 

2 

3 

4 

5 

6 

7 

8 

9 

Account Number/Group Account 

Number: The demand deposit account 

(DDA) number for this statement. 

For groups, the account number 

designated to represent a group 

of accounts in a relationship. 

Page Numbers: Each page of the 

analysis is numbered consecutively 

and also reflects the total number 

of pages in the entire statement. 

Statement Period: The beginning 

and ending date of the statement. 

Contact: Your JPMorgan Chase 

relationship manager or the 

department managing your 

relationship. 

Account Number: The number of the 

individual or group DDA covered by 

this Balance Analysis section. 

Average Ledger Balance: The net 

sum of the daily positive and negative 

ledger balances for the month, 

divided by the number of days in 

the month. The balance of the last 

preceding business day is used for 

weekends and holidays. 

Less Average Float: The difference 

between the average ledger balance 

and average collected balance for 

the month. JPMorgan Chase assigns 

float on deposited items based on our 

published availability schedules. 

Average Collected Balance: The net 

sum of the daily positive and negative 

collected balances for the month, 


the month. 

Average Negative Collected Balance: 

The sum of the daily negative 

collected balances for the month, 


the month. This balance is used in 

determining the negative collected 

balance fee, which also appears in 

the Service Analysis section of your 

statement. 

10 

11 

12 

13 

14 

15 

16 

17 

Average Positive Collected Balance: 

The sum of the daily positive collected 

balances for the month, divided by 

the number of days in the month. 

Less Reserve Requirement: The 

portion of the DDA balances that 

must be set aside by the bank to meet 

reserve requirements. This amount is 

not available to offset service charges. 

Average Investable Balance: The 

sum of the average positive collected 

balances, less reserve requirements 

(less loan compensating balances, 

if applicable). This is the balance on 

which the earnings credit rate (ECR) 

is applied. 

Balances Not Eligible for Earnings 

Allowance: The portion of the 

investable balances that does not 

receive earnings credit. 

Balances Eligible for Earnings 

Allowance: The portion of the 

investable balances that receives 

earnings credit. 

Less Balance Required: Balance 

required to offset the current month’s 

balance-based service charges. 

Excess (Deficit) Investable Balance: 

The excess or deficit in balances 

remaining after the balances required 

to offset the current month’s balancebased 

service charges have been 

deducted. 

Reserve Adjustment Collected: 

The reserve adjustment is used for 

determining the collected balance 

position after offset of service charges. 

For excess investable balances, the 

reserve adjustment represents surplus 

reserves based on excess collected 

balances. For deficit investable 

balances, the reserve adjustment 

represents additional reserves based 

on deficit collected balances. 

18 

19 

20 

21 

22 

Net Collected Balance Position: The 

net collected balance position is the 

sum of the investable balance and 

the reserve adjustment. For excess 

balances, these positive collected 

funds are available to your company 

to meet other corporate obligations. 

For deficit balances, this is the 

additional positive collected balance 

required to offset all service charges. 

Earnings Credit Allowance: 

The calculated value of balances 

maintained during the month, which 

can be used to offset balance-based 

service charges. The ECR is displayed 

on each corresponding detailed DDA 

statement. 

Total Charge for Services: The sum 

of the charges for services rendered. 

This amount is detailed in the Service 

Analysis section. Will be either: 

A. Net Charge for Services: Amount 

due for services after deducting 

the total charge for services from 

the earnings credit allowance 

where the result is negative. 

B. Net Service Credit: Amount of 

excess credit remaining after 

the total charge for services has 

been deducted from the earnings 

credit allowance where the result 

is positive. 

Service Charge Amount: Net charge 

(total service charge after offset of 

earnings allowance), which will be 

debited from DDA you have specified 

(or invoiced, if applicable). 

2

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

3

Service Analysis 

Provides a review of all services used during the month, product volumes, and the resulting 

service charge and balance equivalent. Services are grouped by product family. 

1 

2 

3 

4 

Account Number/Group Account 

Number: The DDA number for this 

statement. For groups, the account 

number designated to represent a 

group of accounts in a relationship. 




of pages in the statement. 



Account Number: The number of the 

individual or group DDA covered by 

this Service Analysis section. 

5 

6 

7 

8 

Service: This column lists all services 

used during the month. Services are 

grouped by product family. 

Number of Units: This column displays 

total volume for each service used. 

Unit Price ($): The price per unit of 

service is displayed. If accounts within 

a relationship analysis have different 

pricing for the same service, the 

services will be listed at each price 

for that service. 

Charge for Service ($): This column 

displays the total charge for each 

service. 

9 

10 

11 

Balance Required ($): The balance 

required to offset the current month’s 

balance-based service charges. This 

amount is calculated by dividing the 

total charge for services by the ECR, 

then multiplying by the number of 

days in the year, and dividing by the 

number of days in the month. 

Total Charge for Services ($): This 

amount represents the sum of all 

charges for services rendered during 

the month. 

Summary of Accounts: The list 

of all accounts included in your 

relationship. 

4

1 

2 

4 

3 

5 

6 7 8 

9 

10 

11 

5

Adjustment Pages 

Summarizes your financial impacts related to adjustments processed during this period, as well 

as re-states your balance analysis post the adjustments processing. 

1 

2 

3 

4 

Deposit/Group Account Number: The 

demand deposit account (DDA) for 

this statement. For groups, this is the 

account designated to represent a 








Financial Recap: This section will 

list any historical periods that were 

impacted by adjustments and Net 

Adjustment Amount. 

5 

6 

7 

8 

9 

Billing Account: The DDA account 

number that is assessed with the net 

service charge amount. 

Cycle Date: The month and year of 

the adjusted historical period. 

Settlement Date: The date the service 

charges were due. 

Previous Net Charge for Service: The 

service charge amount last assessed 

for the reported period. 

Adjusted Net Charge for Services: 

The service charge amount after the 

adjustment is applied. 

10 

11 

Net Charge/Credit for Service 

Adjustment Amount: The difference 

between the previous and adjusted 

Net Charge for Services. 

Historical Adjustment Summary: 

Refer to page 2 for descriptions of 

each field. This section will show your 

previous balance information as well 

as your adjusted balance information, 

which is after all adjustments were 

processed for this cycle. 

6

1 

2 

3 

4 

5 

6 7 8 9 10 

11 

11 

7

Adjustment Pages (continued) 

Details your balance and volume/pricing adjustments. Information includes change to original 

transaction and impact to charge for service. 

1 

2 

3 

4 

5 

6 

Deposit/Group Account Number: The 

demand deposit account (DDA) for 

this statement. For groups, this is the 

account designated to represent a 








Adjusted Cycle Date: The month and 

year of the adjusted historical period. 

Account Number: The DDA to which a 

balance adjustment has been applied. 

Date Posted: The date we processed 

the balance adjustment. 

7 

8 

9 

10 

11 

Start Date: The first date during the 

month reported that the balance 

adjustment is effective. 

End Date: The last date during the 

month reported that the balance 

adjustment is effective. 

Collected Balance Adjustment 

Amount: The dollar amount of the 

balance adjustment. 

Impact to Average Balance: 

The balance adjustment amount 

multiplied times the number of 

effective days than divided by the 

total number of days in the period. 

Impact to Earnings Allowance: The 

amount that is added or subtracted 

from the Earnings Allowance as a 

result of this balance adjustment. 

This amount does not reflect reserve 

requirements. 

12 

13 

14 

15 

16 

Impact to Net Charge/Credit for 

Services: The amount that is added or 

subtracted from the Net Charge/Credit 

for Services as a result of this balance 

adjustment. This amount does not 

reflect reserve requirements. 

Product Family/Origin Code and 

Service: The product family or Lockbox 

number, if applicable and the service 

description. 

Unit Price: The price per unit of 

service is displayed. 

Number of Units: The total volume for 

each service. 

Charge for Services: The total charge 

for each service. 

8

1 

2 

3 

Adjustment Pages 

Balance Adjustment Detail 

4 

5 

AUG 01 through AUG 31, 2006 

6 

7 8 9 10 11 12 

Date Posted Start Date End Date Collected Balance Impact to Average Impact to Impact to Net 

Adjustment Balance Earnings Charge/Credit 

Amount Allowance for Services 

111 DDA 12345678901 

11-10-2006 08-01-2006 08-31-2006 -1,000.00 -1,000.00 -3.57 -3.57 

Total AUG 2006 -3.57 

SEP 01 through SEP 30, 2006 

Date Posted Start Date End Date Collected Balance Impact to Average Impact to Impact to Net 

Adjustment Balance Earnings Charge/Credit 

Amount Allowance for Services 

111 DDA 12345678901 

11-10-2006 09-01-2006 09-30-2006 -1,000.00 -1,000.00 -3.45 -3.45 

Total SEPT 2006 -3.45 

Volume/Pricing Adjustment Detail 

4 

5 

SEP 01 through SEP 30, 2006 

13 14 15 16 

Product Family/Origin Code Unit Price Number of Units Charge for Services 

and Service 

111 DDA 12345678901 

Account Services 

Checks Paid .5000 10 5.00 Original 

.4000 10 4.00 Adjusted 

-1.00 

Impact to Net Charge/Credit for Services is -1.00 

Account Maintenance 40.0000 1 10.00 Original 

40.0000 2 20.00 Adjusted 

10.00 

Impact to Net Charge/Credit for Services is 10.00 

TOTAL SEP 2006 9.00 

9

Account Analysis Definitions and Formulas 

This listing of terms and definitions is provided so that you can easily 

review how the Account Analysis figures were calculated. 

Average Collected Balance: The net sum 

of the daily ending positive and negative 

collected balances for the month, divided 

by the number of days in the month. The 

average collected balance is the average 

ledger balance, less average float. 

Average Float: The difference between the 

average ledger balance and the average 

collected balance for the month. JPMorgan 

Chase assigns float on deposited items 

based on our published availability 

schedules. 

Average Investable Balance: The average 

positive collected balance, less reserve 

requirement (less loan compensating 

balances, if applicable). This is the balance 

on which the ECR is applied. 

Average Ledger Balance: The net sum 

of the daily positive and negative ledger 

balances for the month, divided by the 


Average Negative Collected Balance: 

The daily negative collected balances 

for the month, divided by the number of 

days in the month. This balance is used 

in determining the negative collected 

balance fee. 

Average Positive Collected Balance: The 

daily positive collected balances for the 

month divided by the number of days in 

the month. 

Average Year to Date: The balance analysis 

line calculations averaged for the calendar 

year. When an account is opened during 

the year, this column represents the 

average since the account was opened. 

Balance-Based Service Charges: Service 

charges that can be offset by the earnings 

credit allowance. 

Balance Required: Balance required to 

offset the current month’s balance-based 

service charges. This amount is calculated 

by dividing the total charge for services by 

the ECR, then multiplying by the number 

of days in the year and dividing by the 


Balances Brought Forward: For accounts 

on a settlement cycle other than monthly, 

this represents the excess balances carried 

over from prior months to be accumulated 

within the current month. 

Balances Taken Forward: For accounts 


this represents the excess balances 

accumulated within the analysis cycle, 

which will be carried over to the next 

month. 

Charges Brought Forward: For accounts 


this represents the amount of service 

charges carried over from prior months to 

be accumulated within the analysis cycle. 

Charges Taken Forward: For accounts on 

a settlement cycle other than monthly, 

this represents the amount of service 

charges accumulated within the analysis 

cycle, which will be carried over to the next 

month. 

Collected Balance: Ledger balance 

less float. 

Credit Requirement: If required, the 

collected balance that must be maintained 

for credit services. The balance has been 

adjusted by the DDA reserve amount. 

Earnings Credit Allowance: Calculated 

value of balances maintained during 

the month, which can be used to offset 

balance-based service charges. This 

amount is calculated by multiplying the 

average investable balance, times the ECR, 

times the number of days in the month, 

divided by the number of days in the year. 

Earnings Credit Rate: The rate used to 

value your average investable balance. 

Excess (Deficit) Earnings Allowance: 

Difference between the earnings credit 

allowance and the balance-based service 

charges. 

Excess (Deficit) Investable Balance: The 

excess or deficit in balances remaining 

after the balances required to offset the 

current month’s balance-based service 

charges have been deducted. 

FDIC Assessment: A pass-through fee 

based on each $1,000 of the monthly 

average ledger balance, times the current 

premium rate. 

Fee-Based Service Charges: Service 

charges that cannot be offset by the 

earnings credit allowance. 

Impact to Average Balance: The balance 

adjustment amount multiplied times the 

number of effective days then divided by 

the total number of days in the period. 

Impact Earnings Allowance: The amount 

that is added or subtracted from the 

Earnings Allowance as a result of balance 

adjustments. 

(continued) 

10

Impact to Net Charge/Credit for Services: 

The amount that is added or subtracted 

from the Net Charge/Credit for Services as 

a result of any adjustments. 

Invoice: The first page of the analysis 

statement designates when service fees 

are to be paid by invoice versus direct 

debit. The analysis invoice is the first page 

of the analysis statement. 

Ledger Balance: End of day balance after 

all accounting entries (debits and credits) 

have posted to your account. 

Net Charge for Services: Amount due for 

services after deducting the total charge 

for services from the earnings credit 

allowance where the result is negative. 

Net Collected Balance Position: The net 

collected balance position is the sum of 

the investable balance plus the reserve 

adjustment. For excess balances, these 

positive collected funds are available to 

your company to meet other corporate 

obligations. For deficit balances, this is 

the additional positive collected balance 

required to offset all service charges. 

Reserve Requirement: The portion of the 

DDA balances that must be set aside by the 

bank to meet reserve requirements. This 

amount is not available to offset service 

charges, and is calculated by multiplying 

the average positive collected balance by 

the current reserve requirement rate. 

Service Charge Amount: Service charge 

that will be debited from (or invoiced to, 

if applicable) the DDA you have specified. 

Settlement Date: When the analysis billing 

period is greater than one month, this 

represents the day for which the analysis 

billing cycle will be complete. For example, 

a quarterly billing cycle may have a 

settlement date of March 31 on the 

January analysis statement. 

Total Charge for Services: Sum of the 

charges for services rendered. 

Total Net Services: The net charge for 

services, plus or minus balances/charges 

brought forward. 

Unit Price: Price per unit of service. 

Net Service Credit: Amount of excess 

credit remaining after deducting the total 

charge for services from the earnings credit 

allowance where the result is positive. 

Reserve Adjustment Collected: The reserve 

adjustment is used for determining the 

collected balance position after offset 

of service charges. For excess investable 

balances, the reserve adjustment 

represents surplus reserves based on 

excess collected balances. For deficit 

investable balances, the reserve 

adjustment represents additional reserves 

based on deficit collected balances. 

11

If you have any questions about your new 

statement, please call your banker, treasury 

management officer or client services contact. 

JPMorgan Treasury Services 

jpmorgan.com/ts 

The services and charges contained in the account analysis statements in this guide are 

provided for illustrative purposes and may differ from a client’s actual services and charges. 

© 2008 JPMorgan Chase & Co. All rights reserved. 

JPMorgan Chase Bank, N.A. Member FDIC




Appendix 3. Chase At Work Program

APRIL 2012 

CONFIDENTIAL 

CHASE STRICTLY AT WORK PRIVATE PROPOSAL: AND CONFIDENTIAL 


CHASE AT WORK: SCHOOL DISTRICT OF PALM BEACH COUNTY

CONFIDENTIAL 

Table of Contents 

Employee Banking Program ......................................................................................... 1 

Benefits to School District of Palm Beach County 1 

Benefits to School District of Palm Beach County Employees 1 

Banking with Chase ...................................................................................................... 2 

Delivering the Program ................................................................................................. 3 

Work with Your Account Representative 3 

Schedule and Conduct On-Site Presentations 3 

CHASE AT WORK PROPOSAL: SCHOOL DISTRICT OF PALM BEACH COUNTY 

Employee Offer .............................................................................................................. 4 

Total Checking 4 

Chase Savings 4 

Premier Plus Checking 4 

Premier Platinum Checking 5 

Military Banking 5 

Personalized Solutions and Financial Management 6 

Chase Exclusives 6 

Financial Education 7 

Dedicated Account Representative .............................................................................. 7 

Disclosures .................................................................................................................. 8,9

Employee Banking Program 

CONFIDENTIAL 

Chase is pleased to offer the Chase At Work program to School District of Palm Beach 

County and its employees. Chase At Work is a powerful program that offers great discounts to 

checking customers, helps make banking convenient for your employees, and helps promote 

direct deposit – all at no cost to your organization. We offer these services through on-site 

banking events where Chase bankers and specialists are available to help your employees 

achieve their goals. And Chase Exclusives ® offers you and your employees better rates, more 

rewards and bigger discounts just for being a Chase customer. 

Benefits to School District of Palm Beach County 


• Enhances your overall benefits package for your employees 

• Delivered at the workplace for the convenience of your employees 

• Helps decrease your payroll costs by increasing employee participation in direct deposit 

• Helps provide financial solutions to your employees delivered by experienced bankers 

form local branches at your workplace – when it’s convenient for you 

Benefits to School District of Palm Beach County Employees 

• Personalized service for your employees – whether their needs are simple or complex, we 

can offer solutions 

• Access to direct deposit, which allows your employees to receive their pay faster, safer 

and cheaper than payroll checks 

• Chase Exclusives ® offers your employees better rates, more rewards and bigger 

discounts for Chase checking customers* 

• A Chase banker will work directly with your employees to explain the value of establishing 

a relationship with Chase 

*Certain restrictions apply, please see a banker for details. The terms of this account, including any fees or features 

may change. 

1

CONFIDENTIAL 

Benefits of Banking with Chase 

When your employees bank with Chase, they receive more than a checking and savings 

account 

Personal Service 

• At over 5,500 Chase branches 

• Bankers and specialists available to help your employees achieve their goals 


Convenience 

• Access to more than 17,000 Chase ATMs nationwide 

• Direct Deposit – get immediate access to your money on payday 

• Free Online Banking and Bill Pay 1 

• Free Chase Mobile and Account Alerts 2 

Strength of JP Morgan Chase 

• A leading global financial services firm 

• Trust the reliability of being backed by JPMorgan Chase 

2

CONFIDENTIAL 

Delivering the Program 

1. Work with Your Account Representative 

School District of Palm Beach County will have a dedicated Account Representative assigned 

as a single point of contact for the program. While meeting with your Account Rep you can 

discuss the best ways to roll out the program and schedule on-site events for your employees. 

Your Account Rep will work with you to arrange events, ensure they go smoothly, and provide 

feedback. 


2. Schedule and Conduct On-Site Presentations 

Delivering the Chase At Work SM program begins with planning on-site visits 

• We’ll work with you to set up convenient on-site options for your employees including: 

o Staff meetings 

o New hire orientations 

o Table top presentations in high-traffic areas 

o Customized events to fit to your business and employee schedules 

• Added convenience for executive level employees 

o Private consultations with an experienced banker and/or advisor team at the 

office or a local branch 

Before the on-site we will provide all of the communications to promote the event 

o Posters, flyers, payroll stuffers and other media 

o Customized emails and a hyperlink to the Chase At Work website 

During the on-site we will 

o Talk with your employees about the discounts Chase offers when they become a 

Chase checking customer 

o Provide access to a Personal Banker to establish a relationship with Chase 

o Address any questions or concerns they may have 

After the on-site we will 

o Return the direct deposit forms to Human Resources or Payroll 

o Provide you with direct feedback on the success of each on-site event 

o Plan for future events as appropriate 

3

CONFIDENTIAL 

Employee Offer 

Chase has a broad range of products and services to meet the diverse needs of your 

employees. A Chase banker will provide personalized service for your employees – whether 

their needs are simple or complex, we can offer solutions. 


Chase Total Checking SM 

• $12 Monthly Service Fee 3 waived with: 

• Monthly direct deposits totaling $500 or more made to this account 

• OR, with a $1,500 minimum daily balance in this account 

• OR with an average daily balance of $5,000 or more in linked deposit 4 /investment 5 

accounts 

Chase Savings SM 

• $5 Monthly Service Fee, waived with: 

• $300 or more minimum daily balance 

• OR, at least one repeating automatic transfer from your Chase checking account 

each month 6 

NEW – Customers who open an account at a Chase At Work on-site event OR at a branch 

after attending an on-site event are now eligible for the checking and savings offers listed 

below 

 

 

FREE order of checks for NEW checking customers if ordered within 60 days of account 

opening (up to a $20 value) 7 

No Monthly Service Fee on a Chase Savings SM account for 12 months when linked to a 

Chase Total Checking SM account 

Chase Premier Plus Checking SM 


• An average daily balance of $15,000 or more in linked deposit 8 /investment 9 accounts 

• Additional Value: 

• Free Chase design checks 

• Free safe deposit box (where available) 10 

• No monthly Service Fee 11 on two additional Chase Premier Plus Checking SM 

accounts and any Chase Plus Savings SM account 

• No Chase fee on 4 non-Chase ATM Inquiries, Transfers and Withdrawals * 

The Chase Total Checking account must be new in order to be eligible for the free order of checks. The Chase 

Savings account must be new in order to be eligible for the Monthly Service Fee waiver to be applied for 12 months. 

Both accounts must be opened and linked before entering the coupon code in order for the Monthly Service Fee 

waiver to be applied to the savings account. The terms of the accounts, including any fees or features, may change. 

4

CONFIDENTIAL 

Employee Offer (continued) 

Chase Premier Platinum Checking SM 


• An average daily balance of $75,000 or more in linked deposit 12 /investment 13 

accounts 


• Exclusive Benefits and Waived Fees: 

• Free personal style checks 

• No monthly Service Fee 14 on nine additional Chase Premier Platinum Checking 

accounts and any Chase Plus Savings account 

• No Chase fee on 4 non-Chase ATM Inquiries, Transfers and Withdrawals * 

• No fee on Incoming Wire Transfers 

• Free rush service if you ever need a replacement debit card 

• Priority service for Premier Platinum Customers: Call 1.888.26.CHASE for 

personalized attention 24/7—you will always reach a live representative. Our goal is 

to have your questions answered or your issues resolved with one call. 

Chase Military Banking for Military veterans and servicemembers with a Chase Premier 

Plus Checking SM account 

• No $25 Monthly Service Fee and no minimum balance requirement on a Chase 

Premier Plus Checking account 

• No Chase fee on 4 non-Chase ATM transactions 15 

• No monthly Service Fee 16 on: 

• 2 additional Premier Plus Checking accounts 

• A Chase Plus Savings SM account 17 

In addition, with direct deposit of your military base pay, 18 active duty military or reserve 

servicemembers also enjoy 

• No Chase fee on ALL non-Chase ATM transactions 19 

• No Chase fee on incoming/outgoing wires 

• No 3% Foreign Exchange Fee on overseas debit card/ATM transactions 

5

CONFIDENTIAL 


Chase Personalized Banking Solutions and Financial Management 

Your Chase banker can introduce you to qualified J.P. Morgan professionals who will work 

with you to understand your unique needs and help to develop comprehensive solutions that 

work towards achieving your personal investment objectives. 


Financial Analysis and Guidance 

• J.P. Morgan’s investment capabilities and advice is offered through a dedicated team that 

is committed to the financial success of their clients 

• Financial Advisors are available to provide complimentary financial analysis that delivers 

clear, personalized recommendations 

• Private banking, investment and asset management, alternative assets, trust services and 

financial planning 

Chase Private Client 

Chase Private Client brings together the convenience and security of Chase banking with the 

storied history and investment insight of J.P. Morgan – one of the most trusted financial 

institutions in the world 

• Private Clients have a dedicated team of trained specialists 

• Personalized banking solutions include preferred rates, enhanced lending capabilities, 

waived fees, and many other complimentary services 

• For more than 160 years, our firm has come to understand the more complex needs of 

people with wealth. Throughout our history, we have helped our clients manage risk and 

navigate economic cycles. Their experience puts us in a unique position to help you 

realize your financial goals. 

Chase Exclusives 

In addition, these special benefits are available for being a Chase checking customer 

• Mortgage 20 - 1% Mortgage Cash Back SM 

• Home Equity Lines of Credit 21 – up to .50% off 

• Auto Loans 22 – Up to .75% off standard rates 

• Certificates of Deposit - Better interest rates 

• Investments ** - IRA annual fee waived 23 

• Chase Freedom ® Credit Card 24 - Get 10% extra points per $1 spent, plus 10 bonus points 

on every purchase 

“Chase Private Client” is the marketing name for a business within JPMorgan Chase & Co., and its subsidiaries. 

Bank products and services are offered by JPMorgan Chase Bank, N.A. and its affiliates. Securities are offered by 

Chase Investment Services Corp. (CISC). Annuities and insurance products are provided by various insurance 

companies and offered through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as 

Chase Insurance Agency Services, Inc. in Florida. CISC, a member of FINRA and SIPC, and CIA are affiliates of 

JPMorgan Chase Bank, N.A. Products not available in all states. The purchase of an insurance or annuity product is 

not a condition of any bank loan, service or product. 

6

CONFIDENTIAL 


Financial Education 

Financial education comes in various forms, including one-on-one interaction with a banker 

and “Money Matters” one-page overviews. 

Money Matters - these overviews provide key facts on topics relevant to consumers. Our 

bankers distribute these pieces and can discuss them during an on-site. 

Topics include: 


• Benefits of Payroll Direct Deposit 

• Preventing and Combating Identity Theft 

• Credit and Debt Management 

• Understanding Your Credit Score 

• Savings and Budgeting 

• Basic Banking 

• Mortgage Basics 

Dedicated Account Representative 

• Chase provides you with a dedicated contact who works with companies just like yours 

and whose sole responsibility is to assure the success of your program 

• For your organization, this dedicated contact is Nicole Kaye, Chase At Work Account 

Representative. Please feel free to reach out to her if you have any questions or would 

like additional information. 

Tel: 617-359-4487 

7

CONFIDENTIAL 

Disclosures: 

The content of this presentation is informational only. The terms of the accounts, including any fees or features, may change. See the 

Deposit Account Agreement booklet and the Deposit Disclosure for the terms and conditions associated with these products. 

* Usage fees may be charged by the institution that owns the ATM. Additional Chase fees may apply when using an ATM outside the U.S., Puerto 

Rico or the U.S. Virgin Islands. 

1. Online Bill Pay: You must be enrolled in Chase Online SM to activate and use Online Bill Payment. Online Bill Payment service is free of charge 

when you designate a qualified account as your Primary Account for Online Bill Payment. A qualified account includes any Chase personal or 

business checking account except Chase Customized Checking SM which will be charged $5 per month for Online Bill Payment Service. 

2. There is no charge from Chase, but message and data rates may apply. Such charges include those from your communications service 

provider. Delivery of alerts may be delayed for various reasons, including service outages affecting your phone, wireless or Internet provider; 

technology failures; and system capacity limitations. 

3. Also avoid the Monthly Service Fee on your Chase Total Checking when you pay $25 or more in qualifying checking-related services or fees. 

Includes all fees charged to your account whether or not identified in the Additional Banking Services and Fees disclosure, except for fees 

refunded to your account, the Monthly Service Fee, safe deposit box fees, fees for Chase Identity Protection Services®, fees bundled as part of 

transaction amounts (e.g. foreign exchange rate adjustments and non-ATM cash fees) and fees for third party provided services. 

4. Qualifying Chase deposit accounts include the following: this checking account, personal savings accounts, CDs, certain Chase Retirement 

CDs, or certain Chase Retirement Money Market Accounts (balances in Money Purchase Pension and Profit Sharing Plans do no qualify). 

5. Qualifying investment accounts include the following: Prior end-of-month balances for Chase Investment Services Corp. investment accounts, 

certain retirement plan investment balances (investment balances in Money Purchase Pension and Profit Sharing Plans do no qualify), JPMorgan 

Funds accounts, annuity products (annuities made available through Chase Insurance Agency, Inc. (CIA) and Chase Insurance Agency Services, 

Inc.) and personal trust accounts. Securities (including mutual funds and variable annuities) and investment advisory services are offered through 

Chase Investment Services Corp. (CISC) or affiliated broker/dealers. Annuities and insurance products are provided by various insurance 

companies and offered through Chase Insurance Agency, Inc. (CIA) a licensed insurance agency, doing business as Chase Insurance Agency 

Services, Inc. in Florida. CISC, a member of FINRA/SIPC, and CIA are affiliates of JPMorgan Chase Bank, N.A.. Products not available in all 

states. 

6. A repeating automatic transfer of $25 or more from a Chase checking account each month is required to waive the Monthly Service Fee. 

7. Checks must be ordered through a Chase branch, telephone banker or chase.com. A refund of the check order, up to $20.00, will be credited to 

the account within 60 days of order. 

8. Qualifying Chase deposit accounts include: this checking account and up to two personal checking accounts (excluding Chase Premier 

Platinum Checking, Chase Private Client CheckingSM, Chase Access CheckingSM and accounts opened with Private Wealth Management), 

personal savings accounts, CDs, certain Chase Retirement CDs, or certain Chase Retirement Money Market Accounts (balances in Money 

Purchase Pension and Profit Sharing Plans do not qualify). 


certain retirement plan investment balances (investment balances in Money Purchase Pension and Profit Sharing Plans do not qualify), JPMorgan 


Inc.), and personal trust accounts. Securities (including mutual funds and variable annuities) and investment advisory services are offered through 


companies and offered through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency 

Services, Inc. in Florida. CISC, a member of FINRA/SIPC, and CIA are affiliates of JPMorgan Chase Bank, N.A. Products not available in all 

states. 

10. Available on small safe deposit box and subject to availability. 

11. Account must be linked to the checking account for no Monthly Service Fee; may also include other account types with no Monthly Service 

Fees when linked to the checking account. 

12. Qualifying Chase deposit accounts include: this checking account and up to nine personal checking accounts (excluding Chase Private Client 

Checking, Chase Access Checking and accounts opened with Private Wealth Management), personal savings accounts, CDs, certain Chase 

Retirement CDs, or certain Chase Retirement Money Market Accounts (balances in Money Purchase Pension and Profit Sharing Plans do not 

qualify). 


certain retirement plan investment balances (investment balances in Money Purchase Pension and Profit Sharing Plans do not qualify), JPMorgan 


Inc.), and personal trust accounts. Securities (including mutual funds and variable annuities) and investment advisory services are offered through 


companies and offered through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency 

Services, Inc. in Florida. CISC, a member of FINRA/SIPC, and CIA are affiliates of JPMorgan Chase Bank, N.A. Products not available in all 

states. 

14. Account must be linked to the checking account for no Monthly Service Fee; may also include other account types with no Monthly Service 

Fees when linked to the checking account. 

15. No non-Chase ATM fee charged by Chase for using another institution’s ATM. Usage fees may be charged by the institution that owns the 

ATM. Additional Chase fees may apply when using an ATM outside the United States, Puerto Rico or the U.S. Virgin Islands. 

16. A Monthly Service Fee waiver is available on either a Chase Premier Plus Checking or Chase BusinessSelect Checking account when linked 

together, but not on both. 

17. Monthly Service Fee is waived when the account is linked to a Chase Premier Plus Checking account. An unlinked Chase Plus Savings 

account has a $20 Monthly Service Fee unless a minimum daily balance of $15,000 or greater is maintained in the account during the monthly 

statement period. 

18. Military base pay does not include allotments and must be direct deposited into this Chase Premier Plus Checking account in last 180 days. 

19. No non-Chase ATM fee charged by Chase for using another institution’s ATM. Usage fees may be charged by the institution owning the ATM. 

8

CONFIDENTIAL 

20. With the patent pending 1% Mortgage Cash Back program, customers can earn up to 1% cash back on their mortgage. This offer is only 

available for new, residential first mortgage purchase and refinance loans submitted directly to Chase. The 1% cash back award is calculated on 

customers’ scheduled monthly principal and interest payments on mortgages applied for and closed only with Chase. The award does not apply to 

extra principal payments or to payments for escrowed items such as taxes and insurance. Customers must enroll in the 1% Mortgage Cash Back 

program online at chase.com within 60 days of closing. Customers without access to chase.com should contact their Loan Officer within 60 days 

of their closing for enrollment help. The award will be calculated and totaled over a 12-month period, starting with the origination date of the loan. 

For a customer’s first year in the program, the award will be calculated based on the number of automatic mortgage payments made during that 

year. Awards will be paid approximately 10 days after the anniversary of a customer’s origination date. Customers can choose to have the award 

paid by direct deposit into a Chase personal checking account or applied to their outstanding principal balance. Customers must choose how they 

want to receive their 1% award when they enroll. Customers can change how they want to receive their award at any time on chase.com or by 

calling Customer Care at the number listed on their mortgage statement. The last year’s award will be calculated on the actual number of 

payments in that year, and paid within 10 business days after a customer pays off their loan. To be eligible, a customer must: 1. Have a new or 

existing Chase personal checking account opened before their loan closing, and 2. Enroll in Chase’s automatic mortgage payment service. With 

this service, their mortgage payment will be automatically deducted from their Chase personal checking account. Payments must go directly from 

a Chase personal checking account to the Chase mortgage and not be managed by third parties. Chase will verify that a checking account is 

active before issuing the annual award. After any of the following events, the offer may be voided and no payment will be made for the 12-month 

period involved and for any time going forward: (a) cancellation of automatic mortgage payments or the Chase personal checking account, 

whether by customer or by Chase (as described in the automatic mortgage payment or Chase personal checking account agreement), or (b) any 

payoff of a mortgage included in the 1% Mortgage Cash Back program, other than at maturity or through a Chase-to-Chase refinance. If the 

mortgage is refinanced with Chase or paid at maturity, the customer will receive their accrued benefit for that year pro-rated through the payoff 

date of the first mortgage. The pro-rated amount will be direct deposited into their Chase checking account. The refinanced mortgage must be 

independently enrolled in the program on terms available at the time for continued participation. This offer is not transferable, is limited to one per 

customer at any given time, and may be discontinued at any time without notice. Loans where servicing is not retained by Chase are excluded. 

There is a $500 calendar year cap on the principal reduction or cash back amount. The 1% Mortgage Cash Back may result in taxable income to 

the customer. We encourage customers to consult with personal tax advisors. All home lending products are subject to credit and property 

approval. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. 

Other restrictions and limitations apply. Visit us at www.chase.com/MortgageCashBack. 

21. The Home Equity Line of Credit rate discount offer is available for new home equity lines. A 0.25% rate discount is offered for customers who 

open a new, or have an existing, Chase personal checking account. An additional 0.25% rate discount is available for customers who open a new, 

or have an existing, Chase Premier PlatinumSM personal checking account or a Chase Private Client CheckingSM account. 

22. Auto Loans are subject to credit approval by JPMorgan Chase Bank N.A. Additional terms and conditions apply. You may qualify for 0.25% off 

the standard rates if you have a Chase personal checking account or 0.50% off the standard rates if you have any Chase Premier CheckingSM, 

Chase Premier Plus Checking or Chase Premier Platinum Checking account. Plus, an additional discount of 0.25% off standard rates if you have 

your monthly loan payment automatically deducted from your Chase checking account when you enroll at loan closing for as long as you continue 

automatic deductions. Rate discounts are subject to change at any time. To open a checking account online, you must live in a state where Chase 

has a branch. Discounts are available only on new auto loans through a branch, online or by phone with Chase, and are not available on dealer 

financing. 

23. The annual fee waiver applies separately to each Chase Traditional IRA, Traditional Rollover IRA, Roth IRA, Roth Conversion IRA, SEP or 

SARSEP (“IRA”) plan you own as long as one of the following applies to such plan as of April 30 (or last business day in April): you maintain a 

Chase checking account, a contribution of $1,000 or more is made to the IRA during the last 12 months ending April 30 (or last business day in 

April); you are a Traditional IRA, Traditional Rollover IRA, SEP or SARSEP participant age 70½ or older and are subject to taking Required 

Minimum Distributions from your plan; or the balance in the IRA is $10,000 or more (including deposits and investments). 

24. You will earn 1 base point for each $1 of net purchases. You will earn an additional 1 point for each $1 of airfare and hotel accommodation net 

purchases when you book at ultimaterewards.com. As a Chase checking customer, you will also earn 1 bonus point for each $10 of net purchases 

(which equates to 10% of base points earned), and an additional 10 bonus points for each individual net purchase. To participate in this program 

for checking customers, the primary cardmember must be the sole owner or a joint owner of an open Chase checking account. Customers who do 

not have an open Chase checking account will automatically be converted together with all unredeemed rewards to the program, which does not 

earn the bonus points described above. You do not earn points on balance transfers, cash advances, cash-like charges such as travelers checks, 

foreign currency and money orders, any checks that are used to access your account, overdraft advances, interest, unauthorized or fraudulent 

charges, or fees of any kind, including fees for products that protect or insure the balances of your account. There is no maximum number of 

points that you can accumulate in the program, including points earned for having a Chase checking account. Bonus/Promotional offers may have 

a maximum accumulation. A service fee of up to $20 per ticket may be charged for the use of our toll-free number to book or change airline 

itineraries. Redemptions made online do not have a service fee. See RewardsProgram Rules and Regulations, which will be mailed after your 

account is established. 

** Securities and investment advisory services are offered through Chase Investment Services Corp. (CISC). CISC, a member of FINRA and 

SIPC, is an affiliate of JPMorgan Chase Bank, N.A. 

INVESTMENT AND INSURANCE PRODUCTS ARE: 

NOT FDIC INSURED - 

NOT GUARANTEED BY THE BANK OR ANY FEDERAL AGENCY - MAY LOSE VALUE 

Deposit products and services offered by JPMorgan Chase Bank, N.A. Member FDIC 

Bank products and services are offered by JPMorgan Chase Bank, N.A and its affiliates 

© 2012 JPMorgan Chase & Co. 

9




Appendix 4. Purchasing Card Proposal

Chase Pricing for Customers in the State of Florida 

STANDARD FINANCIAL PROPOSAL 

January 24, 2012

S T R I C T L Y P R I V A T E A N D C O N F I D E N T I A L 

Disclaimer 

This document was prepared exclusively for the benefit and internal use of the J.P. Morgan Chase customer to 

whom it is directly addressed and delivered (including such customer’s subsidiaries, the “Company”) in order to 

assist the Company in evaluating, on a preliminary basis, certain products or services that may be provided by 

J.P. Morgan Chase. This document contains information which is confidential and proprietary to J.P. Morgan 

Chase, which may only be used in order to evaluate the products and services described herein and may not be 

disclosed to any other person. In preparing this document, we have relied upon and assumed, without 

independent verification, the accuracy and completeness of all information available from public sources or 

which was provided to us by or on behalf of the Company or which was otherwise reviewed by us. This 

document is for discussion purposes only and is incomplete without reference to, and should be viewed solely in 

conjunction with, the oral briefing provided by J.P. Morgan Chase. Neither this document nor any of its contents 

may be used for any other purpose without the prior written consent of J.P. Morgan Chase. J.P. Morgan Chase 

makes no representations as to the legal, regulatory, tax, or accounting implications of the matters referred to 

in this document. 

Notwithstanding anything in this document to the contrary, the statements in this document are not intended to 

be legally binding. Any products, services, terms, or other matters described in this document (other than in 

respect of confidentiality) are subject to the terms of separate legally binding documentation and/or are 

subject to change without notice. 

Neither J.P. Morgan Chase nor any of its directors, officers, employees, or agents shall incur any responsibility 

or liability whatsoever to the Company or any other party in respect of the contents of this document or any 

matters referred to in, or discussed as a result of, this document. 

The financial proposal is valid for 90 days. J.P. Morgan Chase reserves the right to amend this proposal 

thereafter. 

J.P. Morgan Chase is a marketing name for treasury services businesses of JPMorgan Chase Bank, N.A., and its 

subsidiaries worldwide. JPMorgan Chase is licensed under U.S. Pat Nos. 5,910,988 and 6,032,137. 

© 2009 JPMorgan Chase & Co. All rights reserved. 

S O L U T I O N S F R O M J . P . M O R G A N 

2


Assumptions and Incentives 

J.P. Morgan Chase is pleased to present the following proposal for the Customer’s programs. 

Pricing Assumptions 

J.P. Morgan Chase has based the proposed standard pricing for Purchase Card and Single-Use 

Account programs on the following assumptions: 

Purchasing Card 

Single-Use Accounts 

Statement Billing Period Monthly=30 Monthly=30 

Payment Days from 

Statement Date 14 days 14 days 

Contract Term 

Three (3) years initial with annual auto-renewals 

Liability, Billing, and 

Payment 

Corporate, central, corporate 


3


Financial Incentives (U.S. Programs) 

Annual Volume Incentive 

J.P. Morgan Chase is pleased to offer the Customer a volume incentive from the grid below 

based on the combined purchasing card program and single-use account programs annual 

charge volume. The incentive is calculated by multiplying annual charge volume by the 

incentive rate and is paid annually for the prior calendar year’s annual charge volume. 

Qualified 

30/25 

30/14 

30/7 

14/14 

14/7 

7/7 

Annual 

Settlement 

Settlement 

Settlement 

Settlement 

Settlement 

Settlement 

Account 

Terms 

Terms 

Terms 

Terms 

Terms 

Terms 

Charge 

Rebate 

Rebate 

Rebate 

Rebate 

Rebate 

Rebate 

Volume 

Rate 

Rate 

Rate 

Rate 

Rate 

Rate 

$500,000 to 

$1,000,000 

1.10% 1.21% 1.28% 1.29% 1.36% 1.39% 

$1,000,000 

to 

$10,000,000 

1.49% 1.60% 1.67% 1.68% 1.75% 1.78% 

>$10,000,000 1.54% 1.65% 1.72% 1.73% 1.80% 1.83% 

If the Customer selects terms shorter than 30/14, Payments will be made via auto debit. J.P. 

Morgan will be happy to discuss additional payment term options. 


The benefits above are determined based on the average file-turn (average number of days 

that charges are outstanding during a contract year) for each participant. The exact number of 

basis points will be determined based on the actual file-turn achieved by each participant. 

Speed-of-Pay Incentive 

J.P. Morgan Chase offers the Customer the ability to improve your rebate potential through the 

following speed-of-pay rebate enhancement: 

 

0.01% (1.0 basis point) speed-of-pay rebate enhancement for each day of improved payment 

days from statement date (also known as client-held days) 

For illustrative purposes, if the Customer selects terms of monthly billing with payment due 

within 14 days of statement date and pays in 2 days after statement date, an additional 12 

basis points (0.12%) will be earned on annual charge volume as result of a twelve-day 

improvement of payment days. 

Reporting system option 

For entities with program spend of under $10 million annually, the smartdata reporting solution 

will be implemented. 

4


Entities with annual spend of $10 million or above can select J.P. Morgan Chase’s PaymentNet 

reporting platform or smartdata. 

Single-Use Account Programs 

SUA available to qualified approved program participants that meet minimum annual SUA spend 

requirements. 

In any year where the single account program volume for an entity is less than $2.0 million, no 

rebate will be paid on that volume. Although SUA volume less than $2.0 million does not qualify 

for a rebate, it will count towards the participants total spend volume. In any year where the 

single account program volume for an entity is at or above $5 million, but less than $10.0 

million, 25 basis points (0.25%) will be deducted from the applicable rebate rate for the single 

use account volume for that entity. 

In any year where the single account program volume for an entity is at or above $10 million, 

the program will earn rebates based on the schedule above. 


5


Terms and Conditions 

 

 

 

 

This offer will be effective at time of contract signing. 

Charge volume is total U.S. dollar charges made on a J.P. Morgan Chase Commercial Card, 

net of returns, and excluding cash advances, convenience checks, large ticket transactions, 

fraudulent charges, all amounts written off as uncollectible, and any amounts that do not 

qualify for interchange under applicable association rules. 

Credit losses will be deducted from rebates. 

Large-ticket transactions will receive the large-ticket volume incentive grid shown below. 

AVERAGE LARGE-TICKET TRANSACTION SIZE REBATE RATE 

Less than $25,000 0.40% 

$25,000–$99,999.99 0.20% 

Greater than $100,000 0.10% 


 

 

 

 

To qualify for rebates, the Customer must meet settlement terms, be current at the time of 

rebate calculation/payment, have a satisfactory J.P. Morgan Chase credit risk rating, and 

not be in default under the contract. Rebates will be calculated annually in arrears and paid 

in the first quarter for the previous calendar year via wire transfer to an account designated 

by the Customer. 

SUA available to qualified approved programs that meet minimum annual spend 

requirements. 

Single Use Maintenance Fee - In the first quarter of each calendar year at the time of rebate 

calculation, the Bank will calculate the total Single Use Charge Volume. In any calendar 

year in which the Customer’s Single Use Charge Volume is less than $10,000,000, a 25 basis 

point Maintenance Fee will be charged. The Maintenance Fee will be deducted from 

Customer’s rebate, provided, however, if deductions exceed the rebate earned for any 

calendar year, the Bank will invoice the Customer for any amount in excess of the rebate 

which amount shall be payable within 14 days after invoice. 

In the event that the association lowers its interchange rates, J.P. Morgan Chase reserves 

the right to adjust rebates accordingly. 

6


Fees for Programs Using J.P. Morgan Chase’s PaymentNet Solution 

The following are the fees associated with our purchasing card program in the United States: 

PROGRAM FEES 

Annual card fee $0.00 

Cash advance fee 

Convenience check fee 

Rejected convenience check 

2.5% ($2.50 minimum) 

2% of check amount ($1.50/check minimum) 

$0.00 per occurrence 

Convenience check stop payment $0.00 

Standard card replacement 

$0.00 per card 

Card reinstatement $0.00 

Emergency (rush) card replacement 

Return check (payment) 

ACH return 

$25 per card if effected through J.P. Morgan Chase. If effected 

through the association, customer shall pay any fees charged by the 

association. 

$15 per return 


Document retrieval Dispute-related: $0.00 

Non-dispute-related: 3 copy requests free, then $5 per copy request 

Duplicate statement 

Currency conversion fee 

$5 per statement 

1% surcharge (association pass-through) 

Dormant credit balance fee $0.00 

Over-limit fee $0.00 

Miscellaneous fees 

Pass-through charges for other specialized services (case-by-case fee) 

PAST-DUE FEES 


Late fee 

Central Bill: 1% of unpaid balance at cycle; charged on cycle date 

Finance charge 

None 

Delinquency fee 

2.5% of the full amount past due (30- & 60-day+) at cycle and each 

cycle thereafter; charged on cycle date. 

CARD DESIGN 

Basic plastic $0.00 

Customer logo added to Basic plastic $0.00 

Customized plastic $15,000 

TRAINING AND CONSULTING 

Training at J.P. Morgan Chase’s site 

$0.00 (customer T&E not included) 

Training at your site(s) 

$0.00 for first session; additional sessions @ $1,550/day 

TECHNOLOGY SERVICES 

7


PaymentNet setup fee 

EDI setup/transmission 

Waived 

Pass-through on all setup and development costs 

Paper statements $0.00 

Electronic payment fee $0.00 

Custom reporting/mapper programming/postloader 

$250 per hour ($1,000 minimum) 

Should the Customer request services not in this schedule, the Customer agrees to pay the fees 

associated with such services. 


8


Fees for Programs Using the smartdata system 

The following are the fees associated with our purchasing card program in the United States: 

PROGRAM FEES 

Annual card fee $0.00 

Executive Elite card fee $325 

Executive card fee $75 

Cash advance fee 

Convenience check fee 

2.0% ($3.00 minimum) 

2% of check amount ($1.50/check minimum) 

Rejected convenience check $0.00 

Convenience check stop payment $0.00 

Standard card replacement 


Card reinstatement $0.00 

Emergency (rush) card replacement 

Return check (payment) 

$25 per card if effected through J.P. Morgan Chase. If effected 

through the association, customer shall pay any fees charged by the 

association. 


ACH return $0.00 

Document retrieval Dispute-related: $0.00 

Non-dispute-related: $8 per document 

Duplicate statement 

Currency conversion fee 

$8 per statement 

1% surcharge (association pass through) 

Dormant credit balance fee $0.00 

Over-limit fee $0.00 


Miscellaneous fees 

PAST-DUE FEES 

Late fee 

Finance charge 

None 

Individual Bill: 2.5% of balances past due 28 days following the second 

billing date and every 30 days thereafter. 

NOTE: Client can be billed both a late fee and a finance charge. 

Central Bill: None 

Central Bill: Prime + 2% is applied to the average daily, which is 

calculated as follows: (past due balance + any new spend) / number 

of days in cycle. Will be charged on the cycle date. 

Travel Central Bill: Prime + 2% is applied to the average daily, which 

is calculated as follows: (past due balance + any new spend) / 

number of days in cycle. Will be charged on the cycle date. 

Travel Individual Bill: Prime + 6.4% is applied to the average daily, 

which is calculated as follows: (past due balance + any new spend) / 

number of days in cycle. Will be charged on the cycle date. 

9


NOTE: Client can be billed both a late fee and a finance charge. 

Delinquency fee 

Central Bill: None 

Travel Individual Bill: Charged as determined by either late fee or 

finance charge or both as outlined above. Will be the same rate/fee 

as late fee/finance charge. 

CARD DESIGN 

Basic plastic $0.00 

Customer logo plastic 

Customized plastic 

$500 - WAIVED 

At cost (pass-through), based on complexity of design, subject to a 

1,000 card minimum 

TRAINING AND CONSULTING 

Training at J.P. Morgan Chase’s site 

Training at your site(s) 

$0.00 (customer T&E not included) 

$1,550/day 

TECHNOLOGY SERVICES 

Paper statements $0.00 

Electronic payment fee $0.00 

Custom reporting/mapper programming/postloader 

SDOL custom mapper: priced by MasterCard; pass-through charge 

OPTIONAL PROGRAM/TECHNOLOGY SERVICES 

Smartdata setup fee $0.00 

SDOL monthly maintenance fee 

$50 per program per month 

SDOL real time $0.00 

REWARDS PROGRAM 


J.P. Morgan Chase corporate rewards 

A travel rewards annual fee of $75 will be assessed to each 

cardholder’s commercial card account. The annual fee will be divided 

as follows: $35 dollars will cover the Bank’s administrative costs and 

the remaining $40 will be put into the client’s redemption pool. The 

Bank may at any time change the amount of the annual fee and/or 

the allocation of this amount without notice to the client. If the 

travel rewards redemption expenses incurred each calendar year 

(regardless of when points are earned) exceed the amount of funds 

available in the redemption pool (the “excess redemption 

expenses”), the excess redemption expenses will be deducted from 

any rebate to the client. If the rebate earned is not sufficient to 

cover the excess redemption expenses, the Bank will invoice the 

client for the excess redemption expenses. The client shall pay such 

invoice within 14 days of receipt. 

Should the Customer request services not in this schedule, the Customer agrees to pay the fees 

associated with such services 

10




Appendix 5. Sample Project Plan

ID % Complete Task Name Duration Start Finish Predecessors Resource Names 

1 0% Palm Beach County School District Implementation 

Project Plan 

47 days Mon 7/2/12 Tue 9/4/12 

2 0% Initiation Phase 10 days Mon 7/2/12 Fri 7/13/12 

3 0% Submit Implementation Request 1 day Mon 7/2/12 Mon 7/2/12 Sales 

4 0% Assign Implementation Project Manager 1 day Tue 7/3/12 Tue 7/3/12 3 JPM Impl Project Mgr 

5 0% Hold Internal Review Meeting 1 day Wed 7/4/12 Wed 7/4/12 4 JPM Impl Project Mgr 

6 0% Schedule Kick-off Meeting 1 day Thu 7/5/12 Thu 7/5/12 5 JPM Impl Project Mgr 

7 0% Hold Implementation Kick-off Meeting with Client 1 day Fri 7/6/12 Fri 7/6/12 6 JPM Impl Project Mgr 

8 0% Confirm Scope of the Implementation Request 3 days Mon 7/9/12 Wed 7/11/12 7 JPM Impl Project 

Mgr/Client 

9 0% Revise/Confirm Project Target Date 1 day Thu 7/12/12 Thu 7/12/12 8 JPM Impl Project Mgr 

10 0% Identify Stakeholders and Resources Required in Project 1 day Fri 7/13/12 Fri 7/13/12 9 JPM Impl Project Mgr 

11 0% Initiation Phase Completed 0 days Fri 7/13/12 Fri 7/13/12 10 JPM Impl Project Mgr 

12 0% Requirements and Planning Phase 7 days Thu 7/5/12 Fri 7/13/12 

13 0% Draft Project Charter 3 days Thu 7/5/12 Mon 7/9/12 5 JPM Impl Project Mgr 

14 0% Review Project Charter with Client 1 day Tue 7/10/12 Tue 7/10/12 13 JPM Impl Project 

Mgr/Client 

15 0% Sign-off on Scope/Lock Project Charter 3 days Wed 7/11/12 Fri 7/13/12 14 Client 

16 0% Draft Detailed Project Plan 3 days Mon 7/9/12 Wed 7/11/12 7 JPM Impl Project Mgr 

17 0% Review DRAFT Project Plan with Client 1 day Thu 7/12/12 Thu 7/12/12 16 JPM Impl Project 

Mgr/Client 

18 0% Requirements and Design Phase Completed 0 days Thu 7/12/12 Thu 7/12/12 17,16 JPM Impl Project 

Mgr/Client 

19 0% Documentation & Service Set-up Phase 19 days Thu 7/12/12 Tue 8/7/12 

20 0% Legal Agreements 12 days Thu 7/12/12 Fri 7/27/12 

21 0% Provide Client with Legal and Product Set-up Documentation 2 days Thu 7/12/12 Fri 7/13/12 8 JPM Impl Project Mgr 

22 0% Signs and Returns Legal and Product Set-up Documentation 10 days Mon 7/16/12 Fri 7/27/12 21 Client 

23 0% ACH Debit Blocking 6 days Mon 7/16/12 Mon 7/23/12 

24 0% Complete, Execute & Return ACH Debit Blocking Set-up 

2 days Mon 7/16/12 Tue 7/17/12 21 Client 

Forms 

25 0% Submit Set-up Request to Operations 2 days Wed 7/18/12 Thu 7/19/12 24 JPM Impl Project Mgr 



26 0% Advise Client of Completed Set-up 2 days Fri 7/20/12 Mon 7/23/12 25 JPM Impl Project Mgr 

27 0% ACH Debit Block Setup Complete 0 days Mon 7/23/12 Mon 7/23/12 26 

28 0% ACH (US) Direct Transmission 15 days Mon 7/16/12 Fri 8/3/12 

29 0% Confirm ACH Set-up Requirements 2 days Mon 7/16/12 Tue 7/17/12 21 JPM Impl Project 

Mgr/Client 

30 0% Secure Technical Resources for ACH Connectivity Setup 

5 days Wed 7/18/12 Tue 7/24/12 29 Client 

and Testing 

31 0% Submit Set-up Request to Operations 1 day Wed 7/18/12 Wed 7/18/12 29 JPM Impl Project Mgr 

32 0% Assign Systems Implementation Resource 1 day Thu 7/19/12 Thu 7/19/12 31 JPM Systems Impl Mgr 

33 0% Finalize Set-up Details with Client 2 days Fri 7/20/12 Mon 7/23/12 32 JPM Systems Impl Mgr 

34 0% Review ACH File Specifications with Client 2 days Tue 7/24/12 Wed 7/25/12 33 JPM Systems Impl Mgr 

35 0% Provide ACH Origin and Company ID Numbers to Client 2 days Thu 7/26/12 Fri 7/27/12 34 JPM Impl Project 

Mgr/JPM Systems Impl 

36 0% Submit Connectivity Request 1 day Tue 7/24/12 Tue 7/24/12 33 JPM Systems Impl Mgr 

37 0% Connectivity Resource Assigned 5 days Wed 7/25/12 Tue 7/31/12 36 JPM Connectivity 

Analyst 

38 0% Establish and Test Connectivity 3 days Wed 8/1/12 Fri 8/3/12 37 JPM Connectivity 

Analyst/Client 

39 0% Complete and Execute Infodex User Setup Form for File 

5 days Tue 7/24/12 Mon 7/30/12 21,33 Client 

Validation and Release 

40 0% Submit Infodex User Setup Form 1 day Tue 7/31/12 Tue 7/31/12 39 JPM Impl Project Mgr 

41 0% Cash Vault Services 13 days Mon 7/16/12 Wed 8/1/12 

42 0% Identify Store Locations and Armed Courier Services 2 days Mon 7/16/12 Tue 7/17/12 21 Client 

43 0% Review and Agree on Proximity Study 5 days Mon 7/16/12 Fri 7/20/12 21 Sales/Client/JPM Impl 

Project Mgr 

44 0% Interview Client and Complete Cash Services Vault 

2 days Mon 7/23/12 Tue 7/24/12 42,43 JPM Impl Project Mgr 

Questionnaire 


46 0% Cash Disbursements 3 days Wed 7/25/12 Fri 7/27/12 

47 0% Set up Virtual Vault Locations 2 days Wed 7/25/12 Thu 7/26/12 44 JPMorgan 

48 0% If Client is Ordering Cash, JPM to Provide Client with 

1 day Fri 7/27/12 Fri 7/27/12 47 JPMorgan 

VRU Instructions 

49 0% Cash Deposits 6 days Wed 7/25/12 Wed 8/1/12 

50 0% Client to Order Supplies for Making Deposits (Deposit 5 days Wed 7/25/12 Tue 7/31/12 44 Client 

Bags, Deposit Tickets, etc) 

51 0% Advise Client of Completed Set-up 1 day Wed 8/1/12 Wed 8/1/12 50 JPM Impl Project Mgr 



52 0% End of Day Investment Sweep 7 days Mon 7/16/12 Tue 7/24/12 

53 0% Complete, Execute & Return End of Day Sweep Agreement 2 days Mon 7/16/12 Tue 7/17/12 21 Client 


55 0% Advise Client of Completed Set-up 3 days Fri 7/20/12 Tue 7/24/12 54 JPM Impl Project Mgr 

56 0% Host-to-Host (H2H)/Connectivity 16 days Mon 7/16/12 Mon 8/6/12 

57 0% Provide Connectivity Guide, Questionnaire and Security 

1 day Mon 7/16/12 Mon 7/16/12 21 JPM Impl Project Mgr 

Administration Designation Form to Client 

58 0% Complete & Return Connectivity Questionnaire and Security 5 days Tue 7/17/12 Mon 7/23/12 57 Client 

Administration Designation Form 

59 0% Provide Connectivity Questionnaire & Security Adminstration 1 day Tue 7/24/12 Tue 7/24/12 58 JPM Impl Project Mgr 

Designation Form to Systems Implementation/Technical 

60 0% Submit Connectivity Request 1 day Wed 7/25/12 Wed 7/25/12 59 JPM Systems Impl Mgr 

61 0% Connectivity Resource Assigned 5 days Thu 7/26/12 Wed 8/1/12 60 JPM Connectivity 

Analyst 

62 0% Set up Connectivity Test Region 3 days Thu 8/2/12 Mon 8/6/12 61 JPM Connectivity 


63 0% Image Deposit Direct (IDD) 13 days Mon 7/16/12 Wed 8/1/12 

64 0% Interview Client and Complete IDD Questionnaire 2 days Mon 7/16/12 Tue 7/17/12 21 JPM Impl Project Mgr 

65 0% Coordinate and Schedule Training Date with Client and 

1 day Wed 7/18/12 Wed 7/18/12 64 JPM Impl Project Mgr 

Operations 

66 0% Submit Set-up Request to Operations 1 day Thu 7/19/12 Thu 7/19/12 65 JPM Impl Project Mgr 

67 0% Email IDD Questionnaire to Float Management 1 day Fri 7/20/12 Fri 7/20/12 66 JPM Impl Project Mgr 

68 0% IDD Unit Orders Scanner Equipment 5 days Mon 7/23/12 Fri 7/27/12 67 JPMorgan 

69 0% Scanner Equipment Sent to Client 1 day Mon 7/30/12 Mon 7/30/12 68 JPMorgan 

70 0% Confirm Receipt of Equipment 1 day Tue 7/31/12 Tue 7/31/12 69 Client 

71 0% Complete Software Installation and Image Website Training 1 day Wed 8/1/12 Wed 8/1/12 70 JPMorgan/PBCSD 

72 0% Confirms Software Testing and Training is Complete 1 day Wed 8/1/12 Wed 8/1/12 70 Client 

73 0% Configure Client PC workstations into Production 

1 day Wed 8/1/12 Wed 8/1/12 70 JPMorgan 

Environment 

74 0% Receive completion notice from IDD Fulfillment 1 day Wed 8/1/12 Wed 8/1/12 70 JPM Impl Project Mgr 

75 0% Advise Client of Completed Set-up 0 days Wed 8/1/12 Wed 8/1/12 74 JPM Impl Project Mgr 

76 0% JPMorgan Access 17 days Mon 7/16/12 Tue 8/7/12 

77 0% Confirm Accounts & Services; Review & Complete Set-up 

Documents 

2 days Mon 7/16/12 Tue 7/17/12 21 JPM Impl Project 

Mgr/Client 



78 0% Complete, Execute & Return Security Administrator 

1 day Mon 7/16/12 Mon 7/16/12 21 Client 

Designation Form (SADF) 

79 0% Submit Set-up Request to Operations 1 day Tue 7/17/12 Tue 7/17/12 78 JPM Impl Project Mgr 

80 0% SecurID Tokens & Activation E-mail Sent to Client Security 1 day Wed 7/18/12 Wed 7/18/12 79 JPMorgan 

Administrators 

81 0% Security Administrators Complete Token Activation Process 1 day Thu 7/19/12 Thu 7/19/12 80 Client 

82 0% Security Administrators Log onto JPMorgan Access 1 day Fri 7/20/12 Fri 7/20/12 81 Client 

83 0% Coordinate & Schedule Security Administrator Training 1 day Mon 7/23/12 Mon 7/23/12 82 JPM Impl Project 

Mgr/Client 

84 0% Security Administrators Complete User and Entitlement 


Set-up 

85 0% Coordinate & Schedule User/Product Training 1 day Tue 7/24/12 Tue 7/24/12 84 JPM Impl Project 

Mgr/Client 

86 0% Client Users Log onto JPMorgan Access 1 day Wed 7/25/12 Wed 7/25/12 85 Client 

87 0% ACH File Upload via ACCESS 15 days Wed 7/18/12 Tue 8/7/12 

88 0% Provide Client with the ACCESS ACH File Upload 

1 day Wed 7/18/12 Wed 7/18/12 77 JPM Project Mgr 

Specifications 

89 0% Secure ACCESS Technical Resource 2 days Thu 7/19/12 Fri 7/20/12 88 JPM Project Mgr 

90 0% Review ACH File Upload Specifications 3 days Mon 7/23/12 Wed 7/25/12 89 Client/JPM Technical 

Resource 

91 0% Create ACH File for Upload via ACCESS 5 days Thu 7/26/12 Wed 8/1/12 90 Client 

92 0% Test ACH File for Upload via ACCESS 3 days Thu 8/2/12 Mon 8/6/12 91,85 Client/JPM Technical 

Resource 

93 0% Begin Processing ACH File via ACCESS 1 day Tue 8/7/12 Tue 8/7/12 92 Client 

94 0% Payables Web Service (PWS) 11 days Mon 7/16/12 Mon 7/30/12 

95 0% Confirm Accounts & Services; Review & Complete Set-up 

Documents 

2 days Mon 7/16/12 Tue 7/17/12 21 JPM Impl Project 

Mgr/Client 

96 0% Complete, Execute & Return Security Administrator 


Designation Form (SADF) 

97 0% Submit Set-up Request to Operations 1 day Tue 7/17/12 Tue 7/17/12 96 JPM Impl Project Mgr 

98 0% SecurID Tokens & Activation E-mail Sent to Client Security 1 day Wed 7/18/12 Wed 7/18/12 97 JPMorgan 

Administrators 

99 0% Security Administrators Complete Token Activation Process 1 day Thu 7/19/12 Thu 7/19/12 98 Client 

100 0% Security Administrators Log onto JPMorgan Access 1 day Fri 7/20/12 Fri 7/20/12 99 Client 

101 0% Coordinate & Schedule Security Administrator Training 3 days Mon 7/23/12 Wed 7/25/12 100 JPM Impl Project 

Mgr/Client 

102 0% Security Administrators Complete User and Entitlement 

1 day Thu 7/26/12 Thu 7/26/12 101 Client 

Set-up 

103 0% Coordinate & Schedule User/Product Training 1 day Fri 7/27/12 Fri 7/27/12 102 JPM Impl Project 

Mgr/Client 



104 0% Client Users Log onto PWS 1 day Mon 7/30/12 Mon 7/30/12 103 Client 

105 0% Setup Complete 0 days Mon 7/30/12 Mon 7/30/12 104 

106 0% Positive Pay w/ Payee Verification (PVE) 17 days Mon 7/16/12 Tue 8/7/12 

107 0% Confirm Set-up Details with Client 2 days Mon 7/16/12 Tue 7/17/12 21 JPM Impl Project 

Mgr/Client 

108 0% Provide Client MICR Specification Sheet & PVE 


Requirements 

109 0% Provide Overview of Check Testing Requirements & File 


Specifications 

110 0% Submit ARP & PWS Set-up Requests to Operations 5 days Tue 7/17/12 Mon 7/23/12 109 JPM Impl Project Mgr 

111 0% Notify Client when Setup Complete/Begin Testing 1 day Tue 7/24/12 Tue 7/24/12 110 JPM Impl Project Mgr 

112 0% Data File Transmission 11 days Tue 7/24/12 Tue 8/7/12 

113 0% Assign Systems Implementation Resource 1 day Tue 7/24/12 Tue 7/24/12 110 JPM Systems Impl Mgr 

114 0% Contact Client to Review File Creation and Testing 

1 day Wed 7/25/12 Wed 7/25/12 113 JPM Systems Impl Mgr 

Process 

115 0% Provide Client with Check Issue/Paid File Specifications 1 day Thu 7/26/12 Thu 7/26/12 114 JPM Impl Project 


116 0% Submit Connectivity Request 1 day Thu 7/26/12 Thu 7/26/12 114 JPM Systems Impl Mgr 

117 0% Connectivity Resource Assigned 5 days Fri 7/27/12 Thu 8/2/12 116 JPM Connectivity 

Analyst 

118 0% Establish and Test Connectivity 3 days Fri 8/3/12 Tue 8/7/12 117 JPM Connectivity 


119 0% Setup Complete/Begin Testing Phase 0 days Tue 8/7/12 Tue 8/7/12 112,114 

120 0% Zero Balance Account (ZBA) 7 days Mon 7/16/12 Tue 7/24/12 

121 0% Complete, Execute & Return US Cash Concentration 

2 days Mon 7/16/12 Tue 7/17/12 21 Client 

Agreement 


123 0% Advise Client of Completed Set-up 3 days Fri 7/20/12 Tue 7/24/12 122 JPM Impl Project Mgr 

124 0% Documentation & Service Set-up Phase Complete 0 days Tue 8/7/12 Tue 8/7/12 2,63,76,94,120,56 

125 0% Testing and Go Live Phase 39 days Mon 7/2/12 Thu 8/23/12 

126 0% ACH Direct Send File 15 days Thu 7/26/12 Wed 8/15/12 

127 0% Create Test File 4 days Thu 7/26/12 Tue 7/31/12 34 Client 

128 0% Send Test File to JPMorgan via Chosen Connectivity Method 1 day Mon 8/6/12 Mon 8/6/12 38,127 Client 

129 0% Tests File and Provide Feedback to Client 3 days Tue 8/7/12 Thu 8/9/12 128 JPM Systems Impl Mgr 



130 0% Send Transaction Journal/Return File to Client via Chosen 

1 day Fri 8/10/12 Fri 8/10/12 129 JPM Systems Impl Mgr 

Connectivity Method 

131 0% Tests File and Provide Feedback to JPMorgan 3 days Mon 8/13/12 Wed 8/15/12 130 Client 

132 0% Sign-off on File Testing 1 day Tue 8/7/12 Tue 8/7/12 128 JPM Impl Project 


133 0% Execute & Return Security Administration Designation Form 1 day Wed 8/1/12 Wed 8/1/12 127 Client 

134 0% Submit Connectivity Production Keys to Security Team 2 days Thu 8/2/12 Fri 8/3/12 133 Client 

135 0% Confirm Connectivity Production Keys are in Place 2 days Mon 8/6/12 Tue 8/7/12 134 JPM Connectivity 

Analyst 

136 0% Establish Connectivity in Production 5 days Wed 8/8/12 Tue 8/14/12 135 JPM Connectivity 


137 0% Build Infodex Users and Provide Passwords and User Guide 3 days Wed 8/8/12 Fri 8/10/12 132 JPM Systems Impl 

Mgr/JPMorgan 

138 0% Activate ACH Service in Production 2 days Wed 8/8/12 Thu 8/9/12 132 JPM Systems Impl Mgr 

139 0% Transmit First Production ACH File to JPMorgan 1 day Wed 8/15/12 Wed 8/15/12 138,136 Client 

140 0% Confirm Receipt of First Production File 0 days Wed 8/15/12 Wed 8/15/12 139 JPM Systems Impl Mgr 

141 0% Set-up Complete 0 days Wed 8/15/12 Wed 8/15/12 140 

142 0% Host-to-Host (H2H)/Connectivity 13 days Tue 8/7/12 Thu 8/23/12 

143 0% Conduct Connectivity Testing 3 days Tue 8/7/12 Thu 8/9/12 62 JPM Connectivity 


144 0% Sign-off on File Testing 1 day Fri 8/10/12 Fri 8/10/12 143 JPM Systems Impl 

Mgr/Client 

145 0% Submit Connectivity Production Keys to Security Team 2 days Fri 8/10/12 Mon 8/13/12 58,143 Client 

146 0% Confirm Connectivity Production Keys are in Place 2 days Tue 8/14/12 Wed 8/15/12 145 JPM Connectivity 

Analyst 

147 0% Establish Connectivity in Production 5 days Thu 8/16/12 Wed 8/22/12 146 JPM Connectivity 


148 0% Submit/Receive Production Verification File to/from 

1 day Thu 8/23/12 Thu 8/23/12 147 Client 

JPMorgan 

149 0% Confirm Successful Receipt/Send of File 0 days Thu 8/23/12 Thu 8/23/12 148 JPM Connectivity 


150 0% Set-up Complete 0 days Thu 8/23/12 Thu 8/23/12 149 

151 0% MICR Testing & Payee Name Verification 15 days Mon 7/2/12 Fri 7/20/12 

152 0% Provide Client with MICR Specification Sheet & PVE 

1 day Mon 7/2/12 Mon 7/2/12 Carolyn B. 

Requirements for Check Printing 

153 0% Client Creates/Orders Checks 10 days Tue 7/3/12 Mon 7/16/12 152 Children's Hospital 

154 0% Client Forwards 20 Voided and Bursted Checks to JPMorgan 1 day Tue 7/17/12 Tue 7/17/12 153 Children's Hospital 

for MICR Testing 

155 0% Perform MICR & PVE Test 2 days Wed 7/18/12 Thu 7/19/12 154 Carolyn B. 



156 0% Provide Test Feedback to Client 1 day Fri 7/20/12 Fri 7/20/12 155 Carolyn B. 

157 0% If Successful, Advise Client to Begin Issuing Checks & 

0 days Fri 7/20/12 Fri 7/20/12 156 Carolyn B. 

Activate PVE Pos Pay Service 

158 0% MICR Testing Complete 0 days Fri 7/20/12 Fri 7/20/12 157 

159 0% Positive Pay via Direct Transmission 12 days Wed 8/8/12 Thu 8/23/12 

160 0% Client Transmits Test Check Issue File to JPMorgan 1 day Wed 8/8/12 Wed 8/8/12 118 Client 

161 0% Test Check Issue File with Payee Information (if applicable) 2 days Thu 8/9/12 Fri 8/10/12 160 JPM Systems Impl Mgr 

162 0% Provide Test Feedback to Client 1 day Mon 8/13/12 Mon 8/13/12 161 JPM Systems Impl Mgr 

163 0% Provide Test Check Paid File to Client If Included with Full 2 days Mon 8/13/12 Tue 8/14/12 161 JPM Systems Impl Mgr 

Reconciliation 

164 0% Tests File and Provide Feedback to JPMorgan 2 days Wed 8/15/12 Thu 8/16/12 163 Client 

165 0% Sign-off on File Testing 1 day Fri 8/17/12 Fri 8/17/12 164 JPM Systems Impl 

Mgr/Client 

166 0% Execute & Return Security Administration Designation Form 2 days Wed 8/8/12 Thu 8/9/12 118 Client 

167 0% Submit Connectivity Production Keys to Security Team 2 days Fri 8/10/12 Mon 8/13/12 166 Client 

168 0% Confirm Connectivity Production Keys are in Place 2 days Tue 8/14/12 Wed 8/15/12 167 JPM Connectivity 

Analyst 

169 0% Establish Connectivity in Production 5 days Thu 8/16/12 Wed 8/22/12 168 JPM Connectivity 


170 0% Security Administrators Entitle and Approve Users 1 day Fri 8/17/12 Fri 8/17/12 164 Client 

171 0% Activate Positive Pay Service and Payee Verification (if 

2 days Mon 8/20/12 Tue 8/21/12 170 JPM Systems Impl 

applicable) 

Mgr/Client 

172 0% Submit First Check Issue File in Production 1 day Thu 8/23/12 Thu 8/23/12 171,169 Client 

173 0% Confirm Receipt of Production Check Issue File 0 days Thu 8/23/12 Thu 8/23/12 172 JPM Impl Project 


174 0% Setup Complete 0 days Thu 8/23/12 Thu 8/23/12 173 

175 0% Testing & Go Live Phase Complete 0 days Thu 8/23/12 Thu 8/23/12 126,142,159 

176 0% Deal Closure Phase 8 days Fri 8/24/12 Tue 9/4/12 

177 0% Monitor Services During Production Verification Period 5 days Fri 8/24/12 Thu 8/30/12 19,125 JPM Impl Project 


178 0% Sign-off on Project 1 day Fri 8/31/12 Fri 8/31/12 177 JPM Impl Project 


179 0% Conduct Post Implementation Meeting 1 day Mon 9/3/12 Mon 9/3/12 178 JPM Impl Project 


180 0% Transition to Customer Service 1 day Tue 9/4/12 Tue 9/4/12 179 JPM Impl Project 

Mgr/Client 

181 0% Distribute Survey to Client 0 days Tue 9/4/12 Tue 9/4/12 180 JPMorgan 



182 0% BAU Production 0 days Tue 9/4/12 Tue 9/4/12 180 





Appendix 6. Chase Branch Network

Chase Branch List 

PALM BEACH COUNTY 

Address Telephone Address Telephone Address Telephone 

222 Lakeview Avenue, Ste 100 

West Palm Beach, Fl 33401 

(561) 655-2694 

328 E Northlake Blvd 

North Palm Beach, Fl 33408 

(561) 840-4281 

7106 Fairway Dr 

Palm Beach Gardens, Fl 33418 

(561) 624-4002 

285 Sunrise Avenue 

Palm Beach, Fl 33480 

(561) 833-1017 

6710 Forest Hill Blvd 


(561) 642-0601 

9863 Lake Worth Road 

Lake Worth, Fl 33467 

(561) 963-3418 

1325 N Congress Avenue 


(561) 640-4521 

1300 W Lantana Road 

Lantana, Fl 33462 

(561) 586-2298 

1102 Royal Palm Beach Blvd 

Royal Palm Beach, Fl 33411 

(561) 753-1871 

7700 S Dixie Hwy 


(561) 585-7526 

4931 S Military Trail 

Greenacres, Fl 33463 

(561) 642-0107 

555 N Congress Avenue 

Boynton Beach, Fl 33426 

(561) 738-5101 

2959 N Military Trail 


(561) 478-9102 

4470 Northlake Blvd. 


(561) 626-5553 

10160 Northlake Blvd. 


(561) 630-5011 

930 S Military Trail 


(561) 642-5901 

6492 W Lake Worth Road 


(561) 439-1301 

901 S Federal Hwy 

Boyton Beach, Fl 33435 

(561) 732-8184 

2601 10th Avenue North, 1st 

Floor 

Lake Work, Fl 33461 

(561) 642-5501 

2500 PGA Blvd 


(561) 439-1301 

5000 W Boyton Beach Blvd. 

Boton Beach, Fl 33436 

(561) 736-3773 

4660 Forest Hill Blvd 


(561) 967-7501 

3399 PGA Blvd, Suite 100 


(561) 624-4728 

1480 Greenview Shores Blvd. 

Wellington, Fl 33414 

(561) 753-0189 

200 Lake Avenue 


(561) 642-5818 

4660 Hypoluxo Road 

Lakeworth, Fl 33463 

(561) 967-0838 

10815 S Jog Rd. 

Boyton Beach, Fl 33437 

(561) 740-2542 

6835 Okeechobee Blvd 


(561) 471-1344 

6350 Lantana Road 


(561) 964-9934 

525 NE 7th Street 

Delray Beach, Fl 33483 

(561) 265-4331

BROWARD COUNTY 


790 E Broward Blvd. 

Fort Lauderdale, Fl 33301 

(954) 523-8122 

5545 Sheridan Street 

Hollywood, Fl 33021 

(954) 961-4906 

6001 N University Dr 

Tamarac, Fl 33321 

(954) 7267221 

1807 Cordova Road 


(954) 467-8424 

1319 State Road 7 

North Lauderdale, Fl 33068 

(954) 974-0324 

6975 Taft St 


(954) 981-0379 

1800 N Federal Hwy 



Oakland Park, Fl 33306 

5055 N Dixie Hwy 


5096 N Dixie Hwy 


300 E Dania Beach Blvd 

Dania, Fl 33004 

(954) 568-4143 

(954) 564-4457 

(954) 489-0136 

(954) 229-0964 

(954) 925-0122 

101 S Pompano Pkwy 

Pompano Beach, Fl 33069 

200 S Pine Island Rd, Suite 

100 

Plantation, Fl 33324 

8285 W Sunrise Blvd 


6399 W Commercial Blvd 


(Currently Under Construction) 

3300 N University Dr 

Sunrise, Fl 33351 

(954) 974-8501 

(954) 370-5523 

(954) 577-1312 

(855) 251-3301 

(954) 572-7667 

4809 Coconut Creek Pkwy 

Coconut Creek, Fl 33063 

10195 Cleary Blvd 




9499 Sheridan St. 

Cooper City, Fl 33024 

8975 W Atlantic Blvd 

Coral Springs, Fl 33071 

(954) 978-3442 

(954) 236-5272 

(954) 946-0937 

(954) 392-0384 

(954) 755-8993 

4820 W Oakland Park Blvd 

Lakes, Fl 33313 

(954) 485-1061 

1701 E Young Circle 


(954) 923-5361 

8351 NW 88th Avenue 


(954)720-1842 

6529 Nova Dr 

Davie, Fl 33317 

(954)370-3463 

2401 E Atlantic Blvd 


(954) 941-5701 

12590 W Sunrise Blvd 

Sunrise, Fl 33323 

(954) 845-0150 

943 SE 15th Street 


(954) 788-5492 

4223 Hollywood Blvd 


(954) 893-1749 

6860 Miramar Pkwy 

Miramar, Fl 33023 

(954) 962-0071

ST LUCIE COUNTY MARTIN COUNTY INDIAN RIVER COUNTY 


130 S Entrada Avenue 

Port St. Lucie, Fl 34952 

(772) 878-8001 

2998 NW Federal Hwy 

Jensen Beach, Fl 34957 

(772) 692-9346 

1205 US Hwy 1 

Vero Beach, Fl 32960 

(772) 539-3356 

601 Virginia Avenue 

Fort Pierce, FL 34982 

(772) 595-1582 

2260 SE Federal Hwy 

Stuart, Fl 34994 

(772) 220-1803 

660 Beachland Blvd 

Vero Beach, Fl 32963 

(772) 492-0338 

1201 SE Port St. Lucie Blvd 


(772) 335-7401 

2280 SE Federal Hwy 

Stuart, Fl 34994 

(772) 283-4421 

1701 NW St. Lucie W Blvd 


(772) 785-7792 

1710 SW Gatlin Blvd 

Port St. Lucie, FL 34953 

(772) 879-2784

A 

B 

C 

$ 

D E F 

INDIANTOWN 

!( RD $ AND 

PALM RD 

JUPITER 

!( 

$ 

1 1 

$ 

PGA 

$ NATIONAL 

!( 

PALM BEACH 

GARDENS 

!( !( PGA BLVD 

IBIS 

!( 

NORTHLAKE 

BLVD 

!( $ 

EAST 

NORTHLAKE 

!( $ 

2 $ $ 

2 

$ 

$ 

$ 

ROYAL 

PALM 

BEACH 

$ !( 

$ 

OKEECHOBEE 

!( $ 

CROSSTOWN 

!( 

$ $ 

CONGRESS 

PALM BEACH 

AVENUE 

BRADLEY 

!( $ 

PLACE 

WEST PALM !( 

BEACH 

DOWNTOWN 

!( 

WELLINGTON 

!( $ 

US 441 

$ !( 

GREENACRES 

CITY 

$ !( 

LAKE 

WORTH 

PLAZA 

!( $ 

$ 

$ 

3 3 

$ 

$ 

$ 

POLO 

$ !( 

FOREST 

!( HILL WEST$ 

PALM BEACH 

MILITARY 

CROSSINGS 

!( 

$ LAKE WORTH 

LAKE AVE 

!( 

$ 

LANTANA 

PINEWOOD 

$ 

DOWNTOWN 

!( 

!( 

$ 

HYPOLUXO 

VILLAGE $ 

!( 

4 4 

LAKE 

WORTH 

MAIN 

$ !( 

DIXIE 

!( 

$ 

WOOLBRIGHT 

AND JOG 

!( 

$ 

$ 

BOYNTON 

MILITARY 

!( 

$ 

BOYNTON 

BEACH 

MALL 

!( 

$ 

$ 

FEDERAL 

!( 

GEORGE BUSH 

AND FEDERAL 

FOUNTAINS 

!( 

$ 

OF DELRAY 

!( 

$ !( $ 

DELRAY 

5 5 

BEACH 

$ 

FOUNTAINS 

OF DELRAY 

DOWNTOWN 

!( $ 

DRIVEUP 

$ 

$ 

$ YAMATO 

AND JOG 

!( $ 

YAMATO 

!( 

SPANISH 

RIVER 

$ 

!( $ 

MISSION BAY 

BOCA RATON 

BOCA RATON LYONS 

TOWN CENTER 

!( $ !( 

!( 

6 

$ 

BOCA RATON 

BOCA RATON 

DOWNTOWN 

$ $ 

DEL MAR 

!( 

!( 

$ 

6 

$ 

7 

8 

$ 

$ 

WESTON 

!( 

A 

$ 

SAWGRASS 

!( 

$ 

$ 

$ 

PARKLAND 

!( 

$ 

NORTH 

CORAL $ WILES AND 

SPRINGS RIVERSIDE 

!( 

!( 

SAMPLE 

$ 

RD AND 

HWY 441 

$ 

!( 

$ 

$ $ 

COCONUT 

CREEK 

SOUTHGATE 

!( $ 

$ CORAL 

AND PINE !( 

SQUARE $ $ 

ISLAND 

!( 

$ 

CYPRESS 

LAKES 

!( 

$ 

$ 

TAMARAC 

!( 

$ $ 

$ 

OAKLAND 

$ 

LAUDERDALE 

UNIVERSITY 

!( 

LAKES 

$ !( 

JACARANDA 

PLAZA $ 

$ 

$ !( 

CLEARY AND 

NOB HILL 

!( 

$ 

$ 

PLANTATION $ 

!( 

$ 

B 

$ 

DAVIE 

NOVA 

!( 

$ 

PALM 

AIRE 

!( 

$ 

DEERFIELD 

MILITARY 

!( 

$ 

EAST 

HILLSBORO 

$ !( 

MCNAB AND 

$ 

FEDERAL HWY 

!( 

$ 

COMMERCIAL 

AND DIXIE 

COMMERCIAL DRIVEUP 

AND DIXIE $ !( !( 

$ 

$ 

OAKLAND 

PARK 

$ !( $ 

$ 

FEDERAL 

!( HWY AND 

NE 19TH 

$ 

$ FORT $ 

LAUDERDALE 

DOWNTOWN 

$ !( 

$ HARBOR 

SHOPS 

!( $ 

$ 

C 

$ 

POMPANO $ 

CITI 

CENTRE 

!( 

POMPANO 

BEACH 

!( $ 

D 

E 

7 

8 

D 

CHASE BRANCH NETWORK 

WEST PALM BEACH-FORT LAUDERDALE METRO AREA 

!( 

$ 

Existing Chase Branches 

Off-Site Chase ATM Locations 

: 

Miles 

0 1 2 4 6 8 

This Map is a Product of JPMorgan Chase, N.A.; 

Produced by Branch Planning - Columbus; 

Site Data and Production Date: March 31, 2012 

F 

7




Appendix 7. Business Resiliency Program

J.P. Morgan Treasury & Securities Services Business 

Resiliency Summary 

June 2011 

SOLUTIONS STRICTLY PRIVATE FROM JPMORGAN 

AND CONFIDENTIAL 

The information contained in this document is confidential and proprietary to 


The business resiliency plans of JPMorgan Chase & Co. are subject to change 

without notice and do not guarantee that for every disaster or business 

disruption: (i) such plans will be successfully implemented; or (ii) such plans, if 

implemented, will be sufficient and appropriate to avoid, deter or mitigate the 

disaster or business disruption. 

© 2011 JPMorgan Chase & Co. All rights reserved.

Business Resiliency Planning 

CONFIDENTIAL 

Recovering from or even avoiding a service disruption, whether a component failure or a fullscale 

disaster, depends on a comprehensive and effective contingency and business recovery 

planning process combined with experienced people to execute the plan. J.P. Morgan’s 

business resiliency plans address all parts of the business – including employees, facilities, 

systems, telecommunications, third parties, and clients. Our business resiliency plans are living 

documents that are updated on an ongoing basis to incorporate lessons learned and tested 

regularly to validate the effectiveness and completeness of the plans. 

Business Resiliency plans are classified as “company confidential” and cannot be disclosed or 

shared with external entities. For informational purposes, this document provides an overview of 

the Business Resiliency planning, testing and implementation approach in place for J.P. 

Morgan’s Treasury & Securities Services line of business. 

J.P. Morgan uses an integrated Business Resiliency strategy that addresses both the disaster 

recovery and business continuity planning required to resume operations from a disruption and 

provide for continuing operations over the course of a business interruption lasting up to 30 

days. 

J.P. Morgan’s firm-wide Business Resiliency program complies with all applicable guidelines 

from The U.S. Office of the Comptroller of the Currency (OCC), the U.S. Federal Financial 

Institutions Examination Council (FFIEC) and the Interagency White Paper on Sound Practices 

to Strengthen the Resilience of the U. S. Financial System. There are approximately 100 

guidelines worldwide for resiliency and our Corporate policies and LOB guidelines were 

documented to account for the various global regulations and are subject to country audits. 

Recovery strategies and plans are documented to account for the worst-case scenario, involving 

loss of life and widespread geographic interruption. 

SOLUTIONS FROM J.P. MORGAN 

The firm’s Treasury & Securities Services line of business maintains a dedicated staff 

responsible for providing Business Resiliency services to all business units. The BR 

professionals provide governance, oversight and compliance functions for business and 

technology subject matter experts. The team is responsible for ensuring that corporate, 

regulatory and country-specific requirements are met. Disaster recovery strategies and plans 

(also known as information technology recovery plans) address the recovery of critical systems 

and applications from an interruption to normal processing cycles. A full range of technical 

solutions are used, with the specific technologies applied to each application/function depending 

on the criticality and recovery time objective of the specific application. J.P. Morgan data centers 

support a wide range of technology to provide high availability environments and alternate site 

recovery capabilities, including disk mirroring, clustering, geographically dispersed systems, and 

offsite tape backups, depending on the criticality and recovery window of the application(s). 

Documented business continuity strategies and plans address the recovery of functions and/or 

people to one or more viable alternate recovery sites. When similar processes utilizing like 

systems are performed at multiple locations, the use of a sister site or distributed operating 

model is generally the preferred recovery approach. A sister site is defined as a facility that 

performs like processes, using similar systems and equipment, and where local management 

possesses expertise on the processes to be recovered at that location. In situations where only 

1

CONFIDENTIAL 

workspace or access to remote applications is required, other J.P. Morgan locations outside the 

production site zone are the preferred approach. 

Plan Development 

J.P. Morgan uses a formal Business Impact Analysis (BIA) process and a standard tool to gather 

and analyze data with each business unit. For consistency of process and content, a Business 

Resiliency Analyst works with the business unit staff to conduct this assessment. The BIA 

measures the potential impact of disruption to clients, as well as legal, regulatory and financial 

impact to the firm if the business process is not able to function. The business unit then 

establishes a recovery window for processes and supporting infrastructure. The recovery 

window range begins with intraday recovery and extends out based on the criticality and timesensitivity 

of the process. 

Output from the BIA is used to define and develop a preferred recovery strategy consistent with 

the specified recovery window. Standardized methodologies, templates and tools provide 

consistent reporting mechanisms, helping to ensure that the selected strategy and the detailed 

plan address all relevant aspects of the FFIEC guidelines. All business continuity plans are 

required to incorporate and satisfy specific critical elements, including: 

Recovery Strategy Employee Call Tree Customers/Third Parties 

Recovery Time Objective Damage Assessment Equipment/Software 

Emergency Notification Recovery Procedures Telecommunications 

Work-in-process Assessment 

Risk assessment and recovery site selection includes evaluation of sites that will not likely be 

impacted by the same event considering regional geography and critical infrastructure that 

supports the process. In many cases, alternate J.P. Morgan locations or sister sites are the 

primary recovery site. Select business units have established hot site locations for business and 

technology recovery while others have contracts with third party vendors to provide and support 

business and systems recovery. 


Where applicable, business resiliency plans reference command centers, assembly sites, offsite 

storage and recovery sites. A formal process to document and approve recovery sites is in 

place to help avoid the potential double-booking or business unit overlap at recovery sites. 

Additionally, support groups, such as Real Estate and Desktop Support, ensure recovery sites 

can be utilized effectively at the time of an interruption and that plans are established to provide 

required infrastructure within allowable timeframes. 

Testing, Training and Education 

All plans must comply with the firms’ corporate Risk Based Testing policy and test cycle. Each 

resiliency plan is tested annually. Exercises can include: 

• Notification Procedures: Assure the accuracy and completeness of call tree information 

is maintained through organizational changes. 

• Walkthrough: Familiarize the business unit or support group staff with the plan and their 

role in its execution. This validates that the resiliency plan incorporates all critical 

processes and helps to identify gaps or other weaknesses requiring remediation. 

• Simulation / Table Top Testing: Validate and share assumptions, including those related 

to dependencies, and the ability of support groups, third parties, and other vendors to 

provide support. A scenario-based test is an interactive session where participants are 

2

CONFIDENTIAL 

presented with an incident and need to make decision in order to overcome a problem or 

situation. 

• Full Physical: Validate the ability to recover business units, processes, applications, and 

infrastructure within the established recovery time objective without dependency on the 

primary location. 

• Location: Assure resiliency readiness at the site-level to recover from a range of 

scenarios, including full loss of site and validate the ability to recover all processes and 

technology with RTOs of 2 through 72 within recovery time objectives. 

Resiliency plans supporting critical business processes are updated annually or when there are 

significant changes in the environment. Plan maintenance sessions are typically a formal review 

of all aspects of the resiliency plan and updates are made as necessary. Where applicable, we 

educate each shift of the general employee population on how to respond to an event at their 

facility, in addition to the employees that will be directly involved with a recovery effort. 

In addition, J.P. Morgan has a formal, centrally managed, assessment process to evaluate the 

adequacy of security, disaster recovery and business continuity controls in place at critical third 

parties. A critical third party is an external entity, which provides a product or service that has 

client, revenue, regulatory or reputational impact to J.P. Morgan. 

Business Resiliency plans are subject to reviews by J.P. Morgan’s Internal Audit Department 

and the Global Business Resiliency group, which acts as the firm’s governing body for Business 

Resiliency measures. The plans must address and comply with documented organizational 

requirements. All findings are escalated to the business units, Risk Management and division 

executive for review. 


Event Management, Escalation and Response 

J.P. Morgan has regional crisis management teams in place to address emerging risks and 

respond to actual recovery issues. Within each line of business, a crisis management 

framework is in place to manage business units and customers through a potential or actual 

business interruption event. This process is tested on a regular basis and has been successfully 

used to manage through a multitude of planned and unplanned events including hurricanes, 

floods, snowstorms, terrorist attacks, technology interruptions and power outages. The following 

areas are addressed: 

• Notification of employees and activation of the plan 

• Damage assessment of facility, technology and work-in-progress 

• Evaluation and impact of established service level agreements 

• Communication with key support providers and customers 

• Recovery of work-in-progress 

• Recovery site activation 

• Impact on support groups and interdependent processes 

• Movement of work and people 

• Business unit and technology recovery 

• Restoration of the process back to the original production location 

3

CONFIDENTIAL 

J.P. Morgan is a large, geographically dispersed financial institution with the ability to manage 

complex events. Automated notification tools, e-mail, instant messaging, and teleconference 

bridge lines are used to communicate and coordinate activities across all business units and 

support groups. 

In an actual business disruption, it can be critical to determine accurately the extent of damage 

and the resources required to resume and maintain operations. Damage Assessment is 

comprised of three components, coordinated by groups knowledgeable in their established 

discipline: the Facilities and Critical Infrastructure Group evaluates the facility and select 

supporting infrastructure; business unit management evaluates the impact of in-progress and 

expected workload and determines the appropriate level of response; Global Technology 

Infrastructure evaluates the impact on electronic equipment, including computers, network and 

servers. 

Within each line of business at each location, a senior individual is appointed to represent the 

business at the J.P. Morgan’s firm-wide Crisis Command Center. In the event of a business 

disruption, J.P. Morgan will activate the Command Center in order to determine the scope of the 

disruption, the effect on the business and on our clients. When activated, the Crisis Command 

Center is staffed 24 hours a day with senior representatives from Facilities, Security, 

Technology, Infrastructure, Risk Management, Legal/Compliance, Insurance, Audit, Human 

Resources, Corporate Communications/Marketing, Finance and each line of business. 

To keep clients informed during a business disruption J.P. Morgan relies on both written and 

verbal communications. We provide clients with regular updates summarizing the status of the 

situation and the impact to clients. Depending on the nature of the disruption and the number of 

clients impacted, the firm may use direct telephone calls, conference calls, e-mails, faxes, 

recorded messages, and other means to disseminate information. When applicable, 

communications may include contact information for those areas operating at contingency 

locations. 


Minimizing Likelihood and Extent of A Disruption 

J.P. Morgan’s extensive global footprint provides built-in redundancy for many core processing, 

operations and service delivery functions. J.P. Morgan has strategically located data centers 

and operation centers throughout the world. This geographic distribution helps to reduce the 

impact of a local disruption on our business. Each location has at least one defined and tested 

recovery site with connectivity to applications and a tested plan for relocating to the alternate site 

and resuming business. 

Further minimizing the likelihood of a full-scale business disruption, J.P. Morgan’s data centers 

and data storage procedures have been designed to minimize the likelihood of a disruption in the 

event of a disaster, as described below. 

• Data centers have on-site backup processing resources to address local equipment 

issues. 

• Data centers and major operations facilities are designed to receive electrical power 

from dual utility feeds, multiple redundant Uninterruptible Power Supply (UPS) 

protection, and redundant on-site generators. Buildings feature stringent physical 

security, using highly sophisticated systems to prevent against and detect fire, smoke, 

4

CONFIDENTIAL 

water and intrusion. These measures help to reduce the risk and minimize the 

consequences of these events. Each building is secured at the main entrance, requiring 

electronic ID cards for access. In addition, a trained and equipped security staff 

provides 24-hour coverage. 

• In major facilities, telephone service is delivered from two separate switching stations 

and delivered to the building so that an interruption to one of the switching stations 

would not affect the entire building’s workspace. 

J.P. Morgan maintains a proprietary telecommunications network across our global operating 

facilities and data centers, which is designed to maintain communications in the event of a 

disaster. We have redundant components for each connection (e.g., routers, switches, etc.) 

which allow us to immediately correct device failures. We have configured our network with 

multiple diversely routed paths that allow us to re-direct traffic in the event of a disruption. This 

enables us to revert to additional options in the event of a provider outage. 

Wide-scale Staff Disruption (including Pandemic Preparedness) 

Based on the World Health Organization’s pandemic model, J.P. Morgan has prepared a 

process for creating layers of defense to prevent virus transmission and a work-around for the 

possibility of mass employee absenteeism. Our plans not only address a pandemic situation but 

would serve us for other wide-scale staff disruptions. Planning incorporates preparedness and 

expertise from all areas of the firm. Consideration has been given to the unavailability of the 

workforce or closing of locations over extended periods of time. J.P. Morgan will exercise 

commercially reasonable efforts to ensure that the firm will meet its obligations to you and to all 

of our customers. 


5




Appendix 8. J.P. Morgan CRA Commitment

JPMorgan Chase Community Involvement – Palm Beach County, FL 

CRA & Community Development Activities from 2009 through 2011 

J.P. Morgan Chase Bank, NA (JPMC or Chase) has a proven history of commitment to the goals 

of the CRA, and to community service. This commitment is exemplified by the consistent 

rating of OUTSTANDING compliance with the Community Reinvestment Act (CRA), in its past 

examinations by the Federal Reserve Bank of New York, and most recently with the Office of 

the Comptroller of the Currency. 

JPMorgan Chase has distinguished itself as a national leader in community development 

lending. JPMorgan Chase provides financing for affordable housing and economic development 

projects in low- and moderate-income communities served by JPMorgan Chase. During the 

period, the bank originated or purchased $19 million in community development loans or 

letters of credit in Palm Beach County. 

JPMorgan Chase also has a long tradition of market leadership in the area of mortgage lending, 

making innovative mortgage products available to meet the needs of all homebuyers. In this 

period, the bank made over 8,100 mortgage loans totaling $1.7 billion throughout Palm Beach 

County, of which 28.0% were made to low- or moderate-income borrowers and 10.6% were 

made for homes located in low- or moderate-income communities. 

JPMC is also a market leader in the area of small business lending, making available a full range 

of competitively priced products designed to meet the needs of small businesses and their 

owners. JPMC has originated or purchased over 9,000 small business loans totaling $107 million 

throughout Palm Beach County, of which, 16.1% were made to businesses located in low- or 

moderate-income communities. 

JPMorgan Chase has continued to maintain excellent responsiveness to the community 

development needs of its assessment area through its significant level of qualified community 

development investments. JPMorgan Chase makes substantial investments in Low-Income 

Housing Tax Credits (LIHTC) which help finance the creation of low- or moderate-income 

affordable housing, and in New Markets Tax Credits (NMTC) which help provide community 

services and revitalization/stabilization to low- or moderate-income communities. JPMorgan 

Chase provided $15.2 million in qualified investments in Palm Beach County during this period. 

SOLUTIONS FROM J.P.MORGAN 

JPMorgan Chase has long supported economic development, affordable housing, support 

services, education, and other community development initiatives by providing grants to notfor-profit 

organizations and financial intermediaries devoted to these areas. In addition, the 

bank has been a leader in designing and fostering innovative programs to meet the changing 

needs of its communities. During this period, JPMorgan Chase provided over $1.2 million in 

grants for community development purposes throughout Palm Beach County. 

JPMC’s Homeownership Preservation Office is recognized as an industry leader in foreclosure 

prevention. The Homeownership Preservation Office helps families stay in their homes 

whenever possible by connecting homeowners with counselors through a national help line and 

leading foreclosure-prevention workshops and local training programs for community leaders, 

housing advocates, public officials and investors. JPMorgan Chase also maintains Chase 

Homeownership Centers - dedicated walk-in centers where struggling borrowers around the 

country can meet face-to-face with trained counselors who help customers understand the full 

range of options available that could allow them to stay in their homes. During this period, the 

bank has opened 13 Homeownership Centers in the State of Florida, including two in Palm 

Beach County. Statewide, the Chase homeownership centers have provided assistance to more 

than 39,000 homeowners at risk of losing their homes to foreclosure, including over 4,500 

through the Palm Beach County homeownership centers. 

1




Appendix 9. Deposit Preparation Guides

For 

Susan R. Jones 

123 Street Avenue 

City, State 111111 

888-888-8888 



Pay this City, Cheque State 111111 

888-888-8888 

to the Order ofSusan R. Jones 



888-888-8888 

to the Order of 

Pay this Cheque 


07100 13111 450023 15866 701125 

For 

07100 13111 450023 15866 701125 

For 

For 

07100 13111 450023 15866 701125 





888-888-8888 




to the Order 888-888-8888 ofSusan R. Jones 




to the Order 888-888-8888 of 



For 

PLEASE PRINT MAILING LABEL IF NOT SHOWN BELOW 

DEPOSITS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL 

For 

$ 

694 

Dollars 

$ 

694 

Dollars 

$ 

96.00 

+ 18.00 

694 

Dollars 



323.00 

+ 8.47 

+ 24.00 

+ 180.00 

+ 32.00 

102.00 

96.00 

+ 18.00 

IN Pay UNITED this Cheque STATES 

to FIFTY the Order DOLLARS of 

Pay IN UNITED this Cheque STATES 


Dollars 

CURRENCY 



Date 

IN UNITED STATES 


FIFTY DOLLARS 


07100 13111 450023 15866 701125 


FIFTY DOLLARS 


07100 13111 450023 15866 701125 

96.00 

+ 18.00 


FIFTY DOLLARS 

Dollars 

Dollars 

323.00 

8.47 

+ 102.00 

+ 24.00 

+ 180.00 

+ 32.00 


FIFTY DOLLARS 

96.00 

Date + 18.00 

Date 

Date 

HG410 591 059 

Date 

HG410 591 059 

Date 

HG410 591 059 

CREDIT ACCOUNT OF 

PLEASE PRINT MAILING LABEL IF NOT SHOWN BELOW 

DEPOSITS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL 

CURRENCY 

COIN 

CHECKS 

(list singly) 

TOTAL 

DEPOSIT 

Company Name 

Store Number 

Preparer's Initials 

Company Name 

Store Number 


Company Name 

Store Number 


Date 

Company Name 

Store Number 


Date 

Company Name 

Store Number 


Date 

Company Name 

Store Number 


Date 

For 




888-888-8888 




888-888-8888 

to the Order ofSusan R. Jones 



888-888-8888 




Company Name 

Store Number 


96.00 

+ 18.00 

07100 13111 450023 15866 701125 

For 

323.00 

+ 8.47 

07100 13111 450023 15866 701125 

For 

07100 13111 450023 15866 701125 

+ 24.00 

+ 180.00 

+ 32.00 

96.00 

+ 18.00 

+ 323.00 

8.47 

+ 102.00 

Date 

96.00 

+ 18.00 

Date 



Date 



07100 13111 450023 15866 701125 

Pay IN UNITED this Cheque STATES 


+ 18.00 

07100 13111 450023 15866 701125 


FIFTY DOLLARS 

07100 13111 450023 15866 701125 

Dollars 

102.00 

+ 96.00 

Company Name 

Store Number 


Company Name 

Store Number 


Date 

Dollars 

Dollars 

Company Name 

Store Number 


Date 

+ 24.00 

+ 180.00 

+ 32.00 

Company Name 

Store Number 


Company Name 

Store Number 


Date 

BRANCH DEPOSIT INSTRUCTIONS 

1 HOW TO BUNDLE CHECKS AND TRAVELERS CHECKS 2 

HOW TO BUNDLE COIN AND CURRENCY 

a. 

b. 

c. 

d. 

Face all checks and travelers 

checks in the same direction. 

Checks and travelers checks 

should be endorsed including 

your account number. 

Batch checks and travelers 

checks together. No more 

than 300 checks per batch 

and no fewer than 6. 

A separate, totaled adding 

tape is required for each 

batch. The checks should be 

in the same order as the 

adding tape. Secure all 

checks and travelers checks 

together using a rubber band 

with the adding tape on top. 

DO NOT staple, fold or 

paperclip checks. 

ENDORSE HERE 

1125 

$50 

Travelers Cheques $50 

Travelers US 

$50 

$50Cheques 

Travelers Traveles US 

$50 

$50Cheques 

Traveles US Cheques 

07100 13111 450023 15866 Traveles 701125 Cheques 

Check must be endorsed 

within the top 1.5" of the 

check. When turned sideways 

as shown here, the 

top of the check is the 

portion that contains the 

account number. 

100 

Checks 

07100 13111 450023 15866 701125 

TOTAL 

07100 13111 450023 15866 701125 

07100 13111 450023 15866 701125 

$50 

HG410 591 059 

HG410 591 059 


HG410 591 059 

Travelers US 

$50 

$50Cheques 

Travelers US 

$50 

07100 13111 450023 15866 Traveles 701125 $50Cheques 

Cheques 

US 

07100 13111 694 450023 15866 wTraveles 701125 Cheques 

+ 24.00 

+ 180.00 

+ 32.15 

+ 122.00 

+ 96.00 

+ 18.00 

86 

T Checks 

TOTAL 

+ 24.00 

+ 180.22 

+ 32.00 

+ 122.00 

+ 96.45 

+ 18.00 

+ 2,589.29 

694 

07100 13111 450023 15866 Traveles 701125 Cheques 

$ 

+ 4,311.76 

$ 

$ 

694 

a. 

b. 

c. 

d. 

Bills should be separated by 

denomination. 100 bills for one 

denomination equals a full strap. The 

bills should be face-up and batched 

into a full strap for each denomination. 

For less than a full strap of mixed 

denominations, bundle bills face-up 

starting with the lowest denomination 

to the highest. Use the reverse side of 

a currency strap to bundle the bills. 

On each currency strap, legibly print or 

stamp the company name, store 

number, initials of the preparer and 

date. 

Place small amounts of mixed loose 

coin in an envelope. On the outside of 

the envelope, legibly print or stamp the 

amount, the company name, store 

number, initials of preparer and date. 

20 $2,860 20 

1 1 

$247 

Company Name 

Store Number 


100 $1,600 100 

5 Date 

$985 5 10 10 

20 

20 $870 50 

1 1 

5 

Date 5 $249 

1 

10 

$700 100 

1 Date 

1 

100 

1 

Date 

50 50 

50 50 

20 

1 

20 

1 

1 1 

$72 

50 50 

20 Company Name 50 

Store Number 

1 


50 

Date 

1 1 

10 

Amount 

Company Name 

Store Number 


Date 

50 

3 HOW TO PREPARE THE DEPOSIT TICKET 

4 

HOW TO PREPARE THE DEPOSIT BAG 

a. 

b. 

DEPOSIT TICKETS should be preprinted with the following 

information (if not, fill it in): 

1 Company Name 

2 Store Number 

3 MICR Line 

a Store Number 

b Account Number 

6 9 

7 

10 

8 

1 

2 

3 

3 

Bag Serial # 

Date 

Preparer's initials 

CREDIT ACCOUNT OF 

Company Name 

Store Number 

COIN 

CHECKS 

(list singly) 

TOTAL 

DEPOSIT 

II' ########## II' I: ######## I: ############# II' 

Write the following information on the deposit ticket: 

a 

9 

10 

b 

11 

11 

a. 

b. 

c. 

Place currency and coins in the top pouch. 

Place deposit ticket on top so that it is visible through the window 

with checks and travelers checks underneath in the bottom pouch. 

To seal properly, see instructions on the deposit bag. 

50 50 

20 

1 

20 

1 

1 1 

50 $72 50 

20 Company Name 50 

Store Number 

1 50 


1 Date 

1 

20 $2,860 20 

100 $1,600 100 

Date 

5 

$985 5 10 10 

20 

20 $870 50 

Date 1 1 

5 

5 $249 

1 

10 

100 

1 

50 50 

10 

$700 100 

50 

6 Bag Serial Number (printed on upper left of the dual-pouch 

deposit bag) 

- CURRENCY 

7 Date 

8 Preparer's Initials 

Top Pouch 

- COINS 

Company Name Date 

Account Number Store Number 

Cash/Coin $ 

9 FOR COIN and CURRENCY, write total of all strapped bills in the 

box next to ‘currency’. Write the total amount of coins next to the 

‘coin’ box. Write the total of currency and coin in the TOTAL 

DEPOSIT box. 

10 FOR CHECKS, write the total of each batch of checks in the 

‘checks’ box. (No more than 300 checks per batch and no fewer 

than 6.) Write out the amount of each check next to ‘checks’ 

when you have 6 or fewer checks. Write the total of your sums in 

the TOTAL DEPOSIT box. 

11 The bank should receive a duplicate copy of the deposit ticket if 

you require a validated receipt. 

Bottom Pouch 

Bag Serial # 

Date 

Preparer's initials 

Company Name 

Store Number 

II' ########## II' I: ######## I: ############# II' 

- DEPOSIT TICKET 

Checks $ 

Total $ 

- CHECKS AND 

TRAVELERS CHECKS 

100 

Checks 

TOTAL 

+ 24.00 

+ 180.00 

+ 32.15 

+ 122.00 

+ 96.00 

+ 18.00 

$ 

+ 4,311.76 

$50 

HG410 591 059 

HG410 591 059 


HG410 591 059 

Travelers US 

$50 

$50Cheques 

694 Travelers Traveles US 

$50 

$50Cheques 

Cheques 

694 

US 

wTraveles Cheques 

694 

Traveles Cheques 

$ 

$ 

86 

T Checks 

TOTAL 

+ 24.00 

+ 180.22 

+ 32.00 

+ 122.00 

+ 96.45 

+ 18.00 

+ 2,589.29 

© 2006 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC

Cash Vault Services 

Deposit Preparation Guide 

How to Bundle 

Currency and Coin 

How to Fill Out a Deposit Ticket for 

Currency, Coin and Checks 

Bills are separated by denomination. 

100 bills per denomination is a full strap. 

Bills should be faceup and batched into 

a full strap for each denomination. 

 

 

For less than a full strap of mixed 

denominations, bundle bills faceup. 

Use the reverse side of a currency strap 

to bundle bills. 

On each currency strap legibly print or 

stamp: 

• Company name 

• Store number 

• Date 

• Preparer’s initials 

20 20 

20 

$2000 

Company Name 

Store Number 


Date 

20 

Deposit tickets should be preprinted 

with the following information: 

 

 

A Company name 

B Store number 

C Store address 

D MICR line 

1 Store number 

2 Account number 

Write the following information on 

the deposit ticket: 

G Bag serial number 

(preprinted on tamper-evident 

deposit bag) 

H Date 

I 

Preparer’s initials 

J Total deposit amount 

(total amount of currency, 

coin and checks) 

 

For currency and coin, write total of 

all strapped and loose bills in the box 

next to currency. Write the total 

amount of coins next to the coin box. 

Write the total of currency and coin in 

the total deposit box. List loose coin 

deposits of more than $10 on a 

separate deposit ticket and enclose in 

a separate, tamper-evident bag. 

Note the check totals: 

• When you have up to 300 checks 

(and no fewer than six), write the 

total of each batch of checks in the 

checks box. 

• When you have six or fewer checks, 

write out the amount of each check 

next to the checks box. 

• Write the total of your sums 

in the total deposit box. 

 

Place small amounts of mixed loose coin in 

an envelope and legibly write or stamp on it: 

• Company name 

• Store number 

• Date 

• Amount 

• Preparer’s initials 

Sample 

Amount 

Company Name 

Store Number 


Date 

©2009 JPMorgan Chase & Co. All Rights Reserved. JPMorgan Chase Bank, N.A. Member FDIC. All services are subject to applicable laws 

and regulations and service terms. Not all products and services are available in all geographic areas. Eligibility for particular products 

and services is subject to final determination by J.P. Morgan and or its affiliates/subsidiaries. Produced by TS Global Marketing.

Cash Vault Services 

Deposit Preparation Guide 

How to Prepare Deposit Bag for Currency, Coin and Checks 

To seal bag properly, follow the instructions printed on the bag and refer to the accompanying illustration: 

Sample 

©2009 JPMorgan Chase & Co. All Rights Reserved. JPMorgan Chase Bank, N.A. Member FDIC. All services are subject to applicable laws 

and regulations and service terms. Not all products and services are available in all geographic areas. Eligibility for particular products 

and services is subject to final determination by J.P. Morgan and or its affiliates/subsidiaries. Produced by TS Global Marketing.




Appendix 10. Deposit Bag Specifications

DEPOSIT BAG SPECIFICATIONS 

Depository Bag 

• The depository bag must have two separate pouches. One is designated for cash. The other is 

designated for checks, traveler’s checks, deposit slips and other supporting documentation. 

• The pouch designated for cash should have a highly tamper-evident closure. 

• The pouch designated for checks, deposit slips, etc., should have a resealable closure. 

• The two pouches must be clearly separate from each other so there is no access from one pouch to 

the other. The two pouches cannot be stacked back to back, but must be top/bottom or side by side. 

• Pouch sizes should be designed to hold the contents of a majority of the deposits typically made by 

the individual location. 

• The bag should be recyclable. 

• The construction of the bag should withstand customer and carrier handling without failing. J.P. Morgan 

recommends a minimum side-seal strength of 1,500 grams/inch. 

• The printing on the outside of the bag should include: 

• Detailed instructions outlining the expected contents of each pouch. 

• Space to write the delivery and sending location information. 

• A unique numbering system (no alpha characters or symbols) for the identification of each depository 

bag. Print this number on the receipt strip of the bag seal and on the body of the bag. Replicate the 

number in bar-code format: 

― Optimally, the bar code should be placed in the upper section, centered at the top of the bag. 

― The bar code should be Font 39; optimally with 1:2 aspect ratio, 15 mil bar width, 2:1 wide to 

narrow bar ratio 1/4" to 1/2" white border, black bar code color and white background. 

• A clear description of what to look for to determine if tampering has occurred. 

• The bag must provide visible means to detect tampering attempts. 

• The bag must have at least one transparent side so the contents of each pouch can be seen without 

gaining access to the pouch. 

Coin Bag 

• Security 

• Bag should be self-sealing. 

• The seal must be tamper-evident. 

• Durability 

• The bag should incorporate a reinforced handle able to withstand a hang test with greater than a 100- 

pound load. 

• Thickness of material should be a minimum of 6.5 mm. 

• A full bag of coin should be able to withstand 8–10 drops from a height of six-feet. 

• Size and features 

• Fillable space of the bag should not exceed 13"x19". 

• Bag handle should not exceed three inches, with total bag dimensions not to exceed 13"x22". 

• Exterior coefficient of friction (COF) of bag should be sufficient to prevent slipping while stacked with 

other plastic and/or canvas bags. A COF of .95 or higher should meet this standard. 

• Bags may be either clear or tinted. If bag materials are colored, the color should not be opaque. 

Contents must be clearly distinguishable through the packaging material. 





Appendix 11. J.P. Morgan ACCESS Sample Reports

Last Modified: May 10, 2011 

Version: 7 

This document contains information that is confidential and is the property of JPMorgan Chase & Co. 

It may not be copied, published or used, in whole or in part, for any purpose other than as expressly 

authorized by JPMorgan Chase & Co. 

All trademarks, trade names, and service marks appearing herein are the property of their respective owners. 

© JPMorgan Chase & Co., 2011. All Rights Reserved.

J.P. Morgan ACCESS sm 

Sample Reports for Cash Management Applications 

Table of Contents 

Table of Contents ............................................................................................................................... 3 

Overview ............................................................................................................................................ 5 

Cash Balances and Transactions Reporting ....................................................................................... 9 

Standard Reports ....................................................................................................................... 9 

Account Summary View Report ................................................................................................... 9 

Balance Report ........................................................................................................................ 10 

Balance and Transaction Summary Report .................................................................................. 11 

Balance and Transaction Detail Report ....................................................................................... 12 

Statement Report by Cumulative Range ..................................................................................... 14 

Statement Report by Cumulative Range—Expanded View ............................................................. 16 

Statement Report by Location ................................................................................................... 18 

Wire Advice Report .................................................................................................................. 20 

Reports Available with Special Entitlements ................................................................................ 20 

Cash Position Worksheet .......................................................................................................... 20 

Checks Paid Detail Reports ....................................................................................................... 21 

Controlled Disbursements High Order Prefix Report ..................................................................... 23 

Controlled Disbursements Funding Report .................................................................................. 23 

Lockbox Detail Report .............................................................................................................. 25 

Lockbox Summary Report ......................................................................................................... 26 

Special Reports........................................................................................................................ 27 

Returns and Exceptions Report .................................................................................................. 27 

EDI Detail Report ..................................................................................................................... 29 

EDI Summary Report ............................................................................................................... 30 

EDI X12 820 Report ................................................................................................................. 31 

Investment Report ................................................................................................................... 32 

Loan Summary Report.............................................................................................................. 36 

Asia Reports ..................................................................................................................................... 37 

ACH/GIRO Return Report .......................................................................................................... 38 

Check/Draft Collections Report .................................................................................................. 40 

Check/Draft Delivery Report ..................................................................................................... 41 

Check/Draft Status Report ........................................................................................................ 42 

Direct Debit Report .................................................................................................................. 42 

Post Dated Check Report .......................................................................................................... 44 

Standard Collections Report ...................................................................................................... 45 

Withholding Tax Report ............................................................................................................ 46 

Table of Contents Page 3



ACH Reporting.................................................................................................................................. 48 

ACH Batch Summary Report ..................................................................................................... 48 

ACH Import Summary Report .................................................................................................... 50 

ACH Validator Summary Report ................................................................................................. 51 

Funds Transfer Reporting ................................................................................................................ 52 

Lines Report ............................................................................................................................ 52 

Status Report .......................................................................................................................... 53 

Pending Approval Report .......................................................................................................... 54 

Pending Release Report ............................................................................................................ 54 

Transaction Detail Report ......................................................................................................... 56 

Daily Totals Report .................................................................................................................. 56 

Drafts Paid Report.................................................................................................................... 56 

Contract Report ....................................................................................................................... 58 

Held and Cancelled Contracts Report ......................................................................................... 59 

FX Daily Rate Report ................................................................................................................ 60 

Liquidity Reporting .......................................................................................................................... 61 

Money Market Activity Report .................................................................................................... 61 

Money Market Accruals Report .................................................................................................. 63 

Money Market Fund Rates Report .............................................................................................. 65 

Account Summary Report ......................................................................................................... 66 

Investment Summary Report .................................................................................................... 67 

Disbursement Reporting .................................................................................................................. 68 

Daily Transaction Report ........................................................................................................... 68 

Reject Report .......................................................................................................................... 69 

Audit Reporting ................................................................................................................................ 70 

User Access and Activities Report .............................................................................................. 70 

Table of Contents Page 4



Overview 

1 

At J.P. Morgan, we provide solutions to match your treasury needs and work with you 

to develop the right integrated tools for accessing the Bank’s full spectrum of services. 

J.P. Morgan ACCESS reports provide you with the decision support tools you require to 

monitor your cash position via the Internet. 

With the powerful electronic reporting capabilities of J.P. Morgan ACCESS, you can 

analyze and manage your cash flow by taking advantage of the J.P. Morgan data 

collection and aggregation capabilities. Our powerful selection tools let you determine 

the data you require to meet your information needs. You always know where your 

cash is and how it is working for you. 

Cash Balances and Transactions Reporting 

Cash Balances and Transactions Reporting provides the detail needed to plan funding 

and investment strategies: top-line summaries, detail transaction records, and 

historical reports. Most J.P. Morgan ACCESS reports are available for current-day, 

previous-day and historical (date-range) reporting. Value-added reports currently 

available include: 

 

Standard Reports—Seven statement reports available to all clients 

o 

o 

o 

o 

o 

o 

Account Summary View Report: Provides opening balance, detailed 

credit and debit activity transactions, and the closing balance for the 

period specified. 

Balance Report: Provides daily balance information, including closing 

ledger, same-day available balance and total debit and credit amounts. 

Does not include detail credits/debits. 

Balance and Transaction Summary Report: Based on the Balance 

Report, but includes a one-line summary for each credit and debit with 

additional lines for associated float 

Balance and Transaction Detail Report: Based on the Balance and 

Transaction Summary Report, but includes comprehensive transaction 

information for each credit and debit with additional lines for 

associated float 

Statement Report by Cumulative Range: Provides a report of the 

cumulative total of all debits and credits on the balance within a given 

account including the Opening Ledger Balance, Closing Ledger 

Balance, and Closing Available Balance for the selected date range. 

Statement Report by Cumulative Range—Expanded View: 

Contains the same information as the Statement Report by Cumulative 

Range, but the Expanded View provides a new option to generate a 

statement report that better reflects actual DDA statements. It is 

landscape oriented, with credits and debits commingled, and the 

default transaction order is by date. 

Overview Page 5



 

 

o 

o 

Statement Report by Location: Provides balance amounts and 

associated transaction activity for a date or range. Credits are 

subtotaled by “customer reference”, ideal for deposits that contain 

your store location numbers in the serial number field of the deposit 

ticket. 

Wire Advice Report: Provides a comprehensive report containing 

CHIP, BOOK, FED and SWIFT payments, both incoming and outgoing. 

Similar to the Funds Transfer “Transaction Detail Report”, but contains 

all payments posted to the account. 

Reports Available with Special Entitlements—Extra reports available for 

specific needs 

o 

o 

o 

o 

o 

o 

Cash Position Worksheet: A stand-alone spreadsheet that presents 

current day information in a cash position format. A user can add 

manual transactions to create a complete position. 

Checks Paid Detail Report: Provides current day and historical 

check information. Report data can be sorted in ascending check 

number or descending dollar amount order. 

Controlled Disbursements—High Order Prefix (HOP) Report: 

Expands on the Funding Report by providing users with HOP accounts 

presentment totals by location, including location number, description, 

amount and number of items per location. 

Controlled Disbursements Funding Report: Provides interim and 

final presentments and funding across all or selected disbursement 

sites. Optionally includes all detail items and adjustments. 

Guaranteed Funding information is also available. 

Lockbox Detail Report: Provides information on lockbox 

remittances, including check amount and number, as well as remitter 

name, deposit location and invoice information, as requested. 

Lockbox Summary Report: Provides incremental deposit totals and 

float, by Lockbox, throughout the day, based on your reporting needs. 

Special Reports—Electronic versions of paper reports 

o 

o 

o 

o 

o 

o 

Returns and Exceptions Report: Provides detailed information on 

your return items, including check returns, Automated Clearing House 

(ACH) returns and ACH notification of changes (NOC). 

EDI Detail Report: Provides detailed remittance information for 

electronic receivables or payments for a specific settlement date. 

EDI Summary Report: Provides a summary of electronic receivables 

or payment information for a specific settlement date. 

EDI X12 820 Report: Provides a print image of detailed remittance 

data for electronic receivables in an ANSI X12 820 format for a specific 

settlement date (V4010 is the default). 

Investment Report: Investment activity for an account, including the 

invested/sweep amount, interest rate/yield information, and interest 

or dividends earned. 

Loan Summary Report: Provides a preformatted view of the user’s 

loan position. Daily activity is updated each business day. 




 

 

 

Asia Reports—A set of reports designed for clients with accounts in Asia 

o 

o 

o 

o 

o 

o 

o 

o 

ACH/GIRO Returns Report: Provides information about electronic 

debit and credit items that have been returned during the clearing 

process with the Beneficiary Bank or rejected by the Bank, and the 

reason for rejection or return. 

Check/Draft Collections Report: Provides information on paper 

collections, including check status, deposit, invoice and payor details. 

Check/Draft Delivery Report: Displays a list of transactions 

according to their delivery status or Airway Bill Number. 

Check/Draft Status Report: Displays the status of all checks and 

bank drafts issued by the Bank. It can be used as a checklist to see 

which transactions have cleared or are outstanding. 

Direct Debit Report: Provides information about direct debit 

transactions and the status of the transactions. 

Post Dated Checks Report: Is used to review the status of future 

dated checks that have been deposited. 

Standard Collections Report: Lists incoming payments, with detailed 

information about selected instruments, such as incoming wires, direct 

debits, check deposits, cash deposits, drafts and lockbox deposits. 

Withholding Tax Report: Provides a monthly list of tax paid. 

ACH Reporting 

ACH reporting provides detail information on Automated Clearing House 

transactions. 

o 

o 

o 

ACH Batch Summary Report: Provides detail information on 

entered, released and submitted Automated Clearing House 

transactions. 

ACH Import Summary Report: Provides result details of the import 

and is available via a hyperlink, or from the Database List screen. 

ACH Validator Summary Report: Provides the totals of all batches 

that were imported, and to view messages if any errors occurred. 

Funds Transfer Reporting 

Funds Transfer Reporting provides the status of transactions initiated through 

the Funds Transfer Initiation (wires) service as well as predefined wire 

linesheets. 

o 

o 

o 

o 

o 

o 

o 

Lines Report: Provides detailed information on repetitive wire 

instructions (lines). 

Status Report: Provides same day and historical summary level 

transaction information based on a specific data type (Entered, 

Approved, Released). 

Pending Approval Report: Provides summary level information for 

transactions having the last status of entered. 

Pending Release Report: Provides summary level information for 

transactions having the last status of approved. 

Transaction Detail Report: Provides same day and historical details 

of funds transfers entered and their approval/confirmation status. 

Released funds transfers display confirmation numbers. 

Daily Totals Report: Provides users with a report showing the most 

recent daily totals based on their profile. 

Drafts Paid Report: Provides details about FX drafts released by the 

Bank on your behalf. 




 

 

 

o 

o 

o 

Contract Report: Provides the details of FX trades you have made 

and confirmed. 

Held and Cancelled Contracts Report: Lists all held or cancelled FX 

contracts for the selected date range and the associated payments. 

FX Daily Rate Report: Provides the fixed daily FX rate. 

Liquidity Reporting 

Liquidity Reporting provides information on investment activity as well as 

accruals and historical rates. 

o 

o 

Money Market Activity Report: Provides comprehensive investment 

information for account activity for the current and prior month. 

Money Market Accruals Report: Provides opening month-to-date 

positions and fund accruals for each of your accounts. 

o Money Market Fund Rates Report: Provides 1 day, 7 day, and 30 

day rates for each fund. 

o 

o 

Account Summary Report: Provides a summary of DDA accounts, 

money market fund investment accounts and fixed maturity holdings. 

Investment Summary Report: Provides a graphic view of all money 

market fund holdings. 

Disbursement Reporting 

Disbursement Reporting provides special reports for controlled disbursement 

accounts at New York, Syracuse, Delaware and Texas sites: 

o 

o 

Audit 

o 

Daily Transaction Report: Provides transaction details for controlled 

disbursement accounts, including actions taken on individual items— 

inquiry, issue, cancel, stop, revoke, photocopy. 

Reject Report: Provides information on rejected transactions for 

controlled disbursement accounts combined with the reject reason 

(e.g., attempting to cancel an already-cancelled item, attempting to stop 

an already-stopped item). 

User Access and Activities Report: Provides detailed access and 

user information for each authorized J.P. Morgan ACCESS User. 




Cash Balances and Transactions Reporting 

2 

Standard Reports 

Account Summary View Report 

The standard statement reports are available to all clients. 

The J.P. Morgan ACCESS Account Summary View Report provides a statement view of 

your cash transaction activity, showing opening balance and closing balance, and 

details of each credit and debit processed. 

With this report you can: 

 

 

 

 

Access financial data for prior business day or a date range. (Not available for 

current day.) 

View balance and transaction detail for all accounts on one consolidated 

report. 

View reporting detail for each credit and debit. 

Review total balances, credits and debits by currency, when applicable. 

Cash Balances and Transactions Reporting Page 9



Balance Report 

This multi-bank report shows the opening and closing balances for an account. It 

includes the amount available, the float, the total number of debits and credits, and 

the total amount of debits and credits across all or selected reporting banks. 

With the Balance Report you can: 

 

 

 

 

 

Access transaction data for prior business day, current business day, or a date 

range. 

Evaluate account averages for this month, the prior month and year-todate. 

View balances, credit/debit totals and funds availability. 

Review balances, credits and debits by currency when applicable. 

Export the report in CSV or BAI2 format. 




Balance and Transaction Summary Report 

The J.P. Morgan ACCESS Balance and Transaction Summary Report provides the same 

information as the Balance Report, plus a one-line summary for each credit and debit 

transaction. The summary lines include the type and amount of the transaction, the 

bank reference number, date and time, and whether the transaction was processed 

straight through or was repaired. 


 

 

 

 

 

View balance and transaction summary detail for an account on one 

consolidated report. 

Access financial data for prior business day, current business day, or a date 

range. 

Display one-line summary information for credits and debits received and/or 

posted by the Bank. 






Balance and Transaction Detail Report 

This report provides the same information as the Balance and Transaction Summary 

Report, plus comprehensive information on each credit and debit below the summary 

information line. The detail information is determined by the nature of the transaction. 

For example, detail for an ACH includes the standard Entry Class code. 


 

 

View balance and transaction detail for one or more accounts on one 

consolidated report. 

View comprehensive detail for each credit and debit. The information available 

is dependent on the reporting banks. 




 

 

 


range. 


Export the report in CSV, MT940 or BAI2 format. 




Statement Report by Cumulative Range 

The Statement Report by Cumulative Range presents the cumulative total of all debits 

and credits on the balance within a given account, including the opening ledger 

balance, recalculated opening balance for back value dated transactions, closing ledger 

balance, and closing available balance for the selected date range. 


 

 

 

 

View debits, credits, or both debits and credits. 

Include all your accounts or select specific accounts. 

Access transaction data for prior or current business day, date of last access, 

or a date range. 

Export all your transactions into a CSV, CSV Consolidated, or BAI2 file. 







The following sample Statement Report by Cumulative Range shows a Recalculated 

Opening Balance for back-valued transactions. 

Statement Report by Cumulative Range—Expanded View 

The cumulative account balance is also available in the Statement Report by 

Cumulative Range—Expanded View. The expanded view provides an option to 

generate a statement report that better reflects actual DDA statements. It is 

landscape oriented, with credits and debits commingled, and the default transaction 

order is by value date. The report is available for current or prior day reporting, for 

J.P. Morgan and non-J.P. Morgan accounts. 

The Statement Report by Cumulative Range in expanded view is available to all who 

have access to J.P. Morgan ACCESS Cash Balances and Transactions. To serve users 

with accounts in Asia, the Report Criteria window is available in Simplified Chinese, 

Traditional Chinese (Taiwan and Hong Kong) and English. The report supports local 

language data in certain fields for prior day only. 




You can: 

 

 

 

Generate the Statement Report by Cumulative Range for Prior Day, Current 

Day, Last Access date, or a Date Range of up to one year, according to your 

arrangement with the Bank. 

Select Expanded View and Layout Options to show a running balance or 

customized sort order on selected columns. 

Export the report in BAI2, CSV Consolidated, CSV Unicode and MT940 format. 

Note: If you filter by Your Ref, Credits Only, or Debits Only, or specify an Amount 

Range, then transactions that fall outside of the filter criteria are listed as 

Summary rows in the report. 




Statement Report by Cumulative Ranged—Expanded View in Simplified Chinese 

Statement Report by Location 

The Statement Report by Location shows the opening and closing balances for an 

account, including closing ledger and collected balances, and total amounts of debits 

and credits. 


 

 

 

View debits, credits, or both debits and credits. 

Access financial data for previous or current business day, the date of last 

access, or a date range. 








Wire Advice Report 

The J.P. Morgan ACCESS Wire Advice Report displays incoming and outgoing wire 

transactions with complete advice level detail. 


 

 

 

 

View incoming and outgoing wire transactions with complete advice level 

detail. 

View all banks and all currencies or select individual banks and currencies. 

Access financial data for prior and current business day, last access date, or a 

date range. 

Export the report in CSV format 

Reports Available with Special Entitlements 

Cash Position Worksheet 

The Cash Position Worksheet is a Microsoft ® Excel ® spreadsheet based on criteria that 

you define. Use it to determine your daily cash position. 

You can: 

 

 

 

 

Create a Statement Report by Cumulative Range and export the information to 

the Cash Position Worksheet. 

Add information directly to the Cash Position Worksheet. 

Add captions and save them in the spreadsheet for recurring information. 

Export the report in CSV Consolidated format. 




Checks Paid Detail Reports 

There are two J.P. Morgan ACCESS SM Checks Paid reports that give current day and 

historical information related to checks that have cleared through your accounts with 

the Bank. 

The two Checks Paid Detail reports have a similar format, displaying items in either 

ascending order by check number or descending order by dollar amount. 

For each check, the report shows check amount, check number, and reference 

number. 


 

 


range. 

Export the report in CSV format. 







Controlled Disbursements High Order Prefix Report 

The High Order Prefix (HOP) Report displays a summary of checks and ACH 

transactions and adjustments. It is similar to the Controlled Disbursements Funding 

Report, with the additional feature of providing the net amount for locations associated 

with an account so the customer can see the summary of activity for each location. 


 

 

Access financial data for current business day or an As Of date. 

View your presentments, including Prior Day Late Presentment. 

Controlled Disbursements Funding Report 

Use the Controlled Disbursements Funding Report to analyze presentment data across 

reporting banks. You can view interim and final presentment data for all report types, 

or review historical presentment data retained for 10, 45 or 90 calendar days, or one 

year, according to your arrangement with the Bank. 

This report displays existing information from the Controlled Disbursements Funding 

report and detail information found on existing Checks Paid by Ascending Check 

Number Report and the Checks Paid by Descending Dollar Report current day reports. 





 

 

 

 

 

Select Summary only or Summary and Detail information. 

Analyze current day funding requirements by account for the Bank’s U.S.- 

based accounts. 

Set a page break after each account (not available for summary only option). 

Access presentment data for Current Day or an As Of date. 





Lockbox Detail Report 

The Lockbox Detail Report provides information on lockbox remittances, including 

check amount and numbe r, as well as remitter name, deposit location and invoice 

information, customized to your requirements. Use this report to facilitate account 

reconciliation with comprehensive detail (based on your requirements) for each lockbox 

deposit. Deposit information is provided by 10:00 a.m. and 4:30 p.m. Eastern Time. 


 

 

Facilitate account reconciliation with comprehensive detail (based on your 

requirements) for each lockbox deposit. 

Access lockbox detail data for prior business day, current business day, or a 

date range of up to 90 calendar days. 

Export the report data to Microsoft ® Excel ® . 




Lockbox Summary Report 

The Lockbox Summary Report shows the box number, time, total number of items, 

total deposit, total available, and float breakdown for daily a.m. and p.m. deposits for 

the date(s) you specify. 


 

 

 

Review individual current day deposits for each lockbox and account. 

Access lockbox data for prior business day, current business day, or a date 

range. 

Export the report in CSV format. 




Special Reports 

Returns and Exceptions Report 

The J.P. Morgan ACCESS sm Returns and Exceptions Report provides the information 

you need to control the impact of return items on your business. With timely and 

detailed information on your return items, you can limit the potential of multiple 

returns from the same individual and effectively manage sub-unit accounting. 

This report conveniently combines check returns, Automated Clearing House (ACH) 

returns and ACH notification of changes (NOC). The report also includes flexible 

search filters for date ranges and a Comma Separated Value (CSV) export option. 

It will enable you to better manage returns from checks, ACH, and ACH-represented 

checks (RCK). 

Report information is available for a maximum of 45 days. 

You can: 

 

 

 

Generate the report online. You can view the report as it builds in Report 

Viewer and then print and download it in Adobe® Acrobat® or Microsoft® 

Excel® format. 

Create a CSV export file that you can retrieve through your Secure Email or 

from the View Status/History screen. 

Generate the report for As of or a Date Range. The dates can be either “Post 

Date” (default) or “Original Date” 

You can filter the report for: 

 

 

 

Returns within a certain amount or reference (e.g., check) range 

Returns with a certain status (All statuses, ACH Return, ACH NOC, ACH 

Reclaim, ACH Redeposit, ACH Reversals, ACH Unknown, All Check Returns, 

Chargeback, Redeposit, or RCK) 

Returns containing the entered Beneficiary (maker or originator) Name 







EDI Detail Report 

The EDI Detail Report provides detail about current day electronic and remittance 

payments that you can view online. Report information can be saved in Adobe ® 

Acrobat ® (PDF) format and is retained for 45 calendar days. 


 

 

Access financial data for current business day or an As Of date. 

This report is retained for a maximum of 45 days. 

Export report data to Microsoft ® Excel ® . 




EDI Summary Report 

The EDI Summary Report provides current day summary information about electronic 

and remittance payments in text format that you can view online. Information is 

retained for 45 calendar days. 

You can export the report in X12 format, or export the report data to Microsoft ® Excel ® . 




EDI X12 820 Report 

The EDI X12 820 Report provides current day information that can be exported in 

ANSI X12 format. SAs grant entitlements for viewing. Report information is retained 

for a maximum of 45 days. 




Investment Report 

The Investment Report shows investment activity for an account and includes the 

invested/sweep amount, interest rate/yield information, and interest or dividends 

earned. 

With this report, you can: 

 

 

 

Review prior business day or up to 45 calendar days of history for the End of 

Day Investment Sweep, Intraday Sweep and Direct Investment activity 

Run the report for all accounts or for specific accounts 

Save report information by downloading data from Search results from the 

Report Viewer Search utility 

The information that displays in the report is determined by the source. It can include 

the investment account (for Intraday Sweep and Direct Investment), investment type, 

trade date, investment account balance, total amount invested or sweep amount, 

interest or dividends earned, total number of days invested for the trade, target 

balance (for EOD and Intraday Sweep), and month to date and year to date 

interests/dividends earned. 




Offshore Deposits, Commercial Paper, Repurchase Agreements, IBF, Fed 

Funds Invested 

J.P. Morgan Chase Bank, N.A. 

PAGE 1 

MUTUAL INSURANCE COMPANY 

BANK NUMBER: 0001 

DDA NUMBER: 0123456789 

INVESTMENT INFORMATION 

INVESTMENT TYPE: 

Investment Type 

TRADE DATE: 04-19-2008 

TOTAL AMOUNT INVESTED/SWEEP AMOUNT ($): 2,951,968.86 

INTEREST RATE (%): 3.850000 

INTEREST EARNED ($): 315.69 

TOTAL NUMBER OF DAYS INVESTED FOR THIS TRADE: 1 

TARGET BALANCE ($): $1.00 

MONTH TO DATE INTEREST EARNED ($): 4,210.16 

YEAR TO DATE INTEREST EARNED ($): 28,832.35 

Money Market Mutual Funds 

PAGE 1 


BOA LTD 


DDA NUMBER: 0123456789 



Name of Fund, Share Class 

TRADE DATE: 04-19-2008 

TOTAL AMOUNT INVESTED/SWEEP AMOUNT ($): 162,816.98 

FUND YIELD (%): 4.040404 

DIVIDEND EARNED/ACCRUED ($): 18.02 


TARGET BALANCE ($): 1.00 

MONTH TO DATE DIVIDENDS EARNED ($): 344.04 

YEAR TO DATE DIVIDENDS EARNED ($): 1,898.49 




Michigan Money Market Funds 

PAGE 1 


ACME MACHINE INC 


DDA NUMBER: 0123456789 



Name of Fund 

TRADE DATE: 04-19-2008 

TOTAL AMOUNT INVESTED/SWEEP AMOUNT ($): 127,800.82 

FUND YIELD (%): 2.837364 

INTEREST EARNED/ACCRUED ($): 9.93 


TARGET BALANCE ($): 10,000.00 

MONTH TO DATE INTEREST EARNED ($): 34.43 

YEAR TO DATE INTEREST EARNED ($): 242.77 

Fed Funds Borrowed 

PAGE 1 


MUTUAL INSURANCE COMPA 


DDA NUMBER: 0123456789 



OVERNIGHT SWEEP FED FUNDS BORROWED 

TRADE DATE: 04-19-2008 

TOTAL AMOUNT BORROWED/SWEEP AMOUNT ($): 2,951,968.86 

INTEREST RATE CHARGED (%): 3.850000 

INTEREST CHARGED ($): 315.69 

TOTAL NUMBER OF DAYS FOR THIS TRADE: 1 


MONTH TO DATE INTEREST CHARGED ($): 4,210.16 

YEAR TO DATE INTEREST CHARGED ($): 28,832.35 




Loan Sweep with Investment Option 

PAGE 1 


ACME MANUFACTURING CO 


DDA NUMBER: 0123456789 



Investment Type 

TRADE DATE: 04-19-2008 

TOTAL AMOUNT INVESTED/SWEEP AMOUNT ($): 0.00 

INTEREST RATE (%): 0.000000 

INTEREST EARNED ($): 0.00 



MONTH TO DATE INTEREST EARNED ($): 0.00 

YEAR TO DATE INTEREST EARNED ($): 0.00 

LOAN INFORMATION 

TRANSFER DATE: 04-19-2006 OBLIGOR \ OBLIGATION AMOUNT 

TRANSFER TO LINE OF CREDIT 2345678901 307 $0.00 

TRANSFER FROM LINE OF CREDIT 3456789012 307 $98,000.00 

LINE OF CREDIT PRINCIPAL ($): 23,162,496.00 

LINE OF CREDIT AVAILABLE ($): 6,837,504.00 

LOAN FUNDS AVAILABLE TO YOUR DDA ($): 6,837,504.00 

Loan Sweep without Investment Option 

PAGE 1 


ACME MANUFACTURING CO 


DDA NUMBER: 0123456789 



NOT CURRENLTY ENROLLED 

LOAN INFORMATION 

TRANSFER DATE: 04-19-2008 OBLIGOR \ OBLIGATION AMOUNT 

TRANSFER TO LINE OF CREDIT 2591353120 307 $0.00 

TRANSFER FROM LINE OF CREDIT 2591353120 307 $98,000.00 

LINE OF CREDIT PRINCIPAL ($): 23,162,496.00 

LINE OF CREDIT AVAILABLE ($): 6,837,504.00 

LOAN FUNDS AVAILABLE TO YOUR DDA ($): 6,837,504.00 




Loan Summary Report 

The Loan Summary Report is a special report that provides a preformatted view of the 

user’s loan position. The report is preformatted by the loan system and is not 

configurable by the user on Cash Balances and Transaction Reporting. 

With this report you can review prior business day with up to 45 calendar days of 

history. Activity is updated daily. The "AS-OF DATE" is the opening for that day. Loan 

activity displays from the past 10 calendar dates. 

There are special fees for special reports at the customer and user level. 




Asia Reports 

J.P. Morgan ACCESS SM offers a set of reports designed for clients with accounts in 

Asia. 

The Report Criteria window for Asia Reports is available in the following languages: 

 

 

 

Simplified Chinese 

Traditional Chinese (Taiwan and Hong Kong) 

English 

Users can select their preferred language as well as date, time and amount formats in 

User Preferences. 

Note: The Withholding Tax Report is available only in a Thai/English version. 

The procedures for scheduling, running, filtering, saving and viewing Asia Reports are 

the same as other Cash Balances and Transactions reports. With Asia Reports 

entitlements, you can: 

 

 

 

 

Create a report using transaction activity for 10, 45 or 90 calendar days, or 

one year, according to your arrangement with the Bank for retaining historical 

information. 

Customize the report by setting date and account criteria and optional filters 

based on the report type. 


Viewer, and then print and download it in Adobe ® Acrobat ® PDF and Microsoft ® 

Excel ® format. 

Create an export file in CSV or CSV Unicode format that you can retrieve from 

the View Status/History screen. 

Note: Microsoft ® Excel ® 2003 is required to open CSV Unicode files properly. If you 

do not have this version of Microsoft Excel, open CSV Unicode files in 

Microsoft ® Wordpad ® or Microsoft ® Notepad ® . 

The Arial Unicode font is needed for viewing Asian languages. You can download this 

font from the Client Support tab on the J.P. Morgan ACCESS Dashboard. Select Arial 

Unicode MS Font under Resources | Plugins for a link to download instructions. 

The Asia Reports are entitled at the customer level for specified accounts. The “Asia 

Reports with Confidential Trans” or “Asia Reports w/o Confidential Trans” entitlement 

is inherited or optionally assigned to any account that is given the Asia Reports 

entitlement. 




ACH/GIRO Return Report 

The J.P. Morgan ACCESS ACH/GIRO Return Report provides information about 

electronic debit and credit items that have been returned during the clearing process 

with the Beneficiary Bank or rejected by the Bank, and the reason for rejection or 

return. 

You can: 

 

 

 

Create an ACH/GIRO Return Report for Prior Day or a Date Range using 

transaction activity for 10, 45 or 90 calendar days, or one year, according to 

your arrangement with the Bank. 

Export the report in CSV or CSV Unicode format. 

Display confidential and/or non-confidential transactions. 

For each transaction within an account, the report returns the selected date type(s), 

the check’s amount and status, return/reject reason, customer reference, confidential 

(yes/no), and the beneficiary name, account and bank/branch. 




ACH/GIRO Return Report in Simplified Chinese 




Check/Draft Collections Report 

The J.P. Morgan ACCESS℠ Check/Draft Collections Report lists incoming paper 

payments with detailed information about checks and drafts. It is similar to the 

Standard Collections Report, with the inclusion of additional data that is specific to 

accounts in India where collection service for paper instruments is provided by 

J.P. Morgan. The report can be used to reconcile against receivables or to query 

for payment status of an instrument. 

You can: 

 

 

 

 

 

Filter the report by Date, Check Amount or Number, Deposit or Clearing 

Location, Product Type or Payer Name. 

View the report online 

Export the report in CSV or CSV Unicode 

Filter Accounts by Bank and Currency 

Select Accounts to includeU: Select All, Deselect All, Select individual 

account(s) 

Schedule, run and save the report as Microsoft ® Excel ® or Adobe ® Acrobat ® 

PDF file 




Check/Draft Delivery Report 

The J.P. Morgan ACCESS SM Check/Draft Delivery Report displays a list of transactions 

according to their delivery status or Airway Bill Number. 

You can: 

 

 

 

Create a Check/Draft Delivery Report using transaction activity for 10, 45 or 

90 calendar days, or one year, according to your arrangement with the Bank. 


Viewer, and then print and download it in Adobe ® Acrobat ® (PDF) format. 

Create an export file in CSV format that you can retrieve from the View 

Status/History screen. 

For this report, all data is in English. 

For each transaction within an account, the report returns the transaction and 

customer references; check number and check type; Airway Bill number; selected date 

type, payee name, issuing bank, payable at location, delivery status, and a 

confidential or non-confidential indicator. 




Check/Draft Status Report 

The J.P. Morgan ACCESS Check/Draft Status Report displays the status of all checks 

and bank drafts issued by the Bank. It can be used as a checklist to see which 

transactions have cleared or are outstanding. 

You can: 

 

 

 

Create a Check/Draft Status Report for Prior Day or a Date Range using 




Select the Delivery Method(s) you want to include the report. 

For each transaction within an account, the report returns the transaction and 

customer references; check number, transaction type and amount; selected date type, 

payee name, By Order Of, delivery method and status. 




Direct Debit Report 

The J.P. Morgan ACCESS Direct Debit Report provides information about direct debit 

transactions and the status of the transactions. 

You can: 

 

 

 

Create a Direct Debit Report for Prior Day or a Date Range using transaction 

activity for 10, 45 or 90 calendar days, or one year, according to your 

arrangement with the Bank. 


Filter the report by Return/Reject Reason. 

For each transaction within an account, the report returns the amount and status of 

the transaction, return/reject reason, selected date type(s), and payment or customer 

reference. 




Direct Debit Report in Simplified Chinese 

Post Dated Check Report 

The J.P. Morgan ACCESS Post Dated Check Report is used to review the status of 

future dated checks that have been deposited. 

You can: 

 

 

 

Create a Post Dated Check Report for Prior Day or a Date Range using 




Filter the report by All Check Statuses or Cancelled, Cleared, In Collection 

Process, In Custody, Lost, Mutilated, Rejected or Withdrawn checks. 

For each transaction within an account, the report returns the selected date type, 

amount and status of the check; the payer’s name, check number, deposit date, and 

branch; the drawee’s bank/branch, and other references. 




Standard Collections Report 

The J.P. Morgan ACCESS Standard Collections Report lists incoming payments, with 

detailed information about selected instruments, such as incoming wires, direct debits, 

check deposits, cash deposits, drafts and lockbox deposits. The report can be used to 

reconcile against receivables, to query for payment status or to check specific data 

such as third-party payments or timeliness of payment. 

You can: 

 

 

 

Create a Standard Collections report for Prior Day or a Date Range using 



Export the file in CSV or CSV Unicode format. 

Select the types of incoming instruments to include in the reports. 

For each transaction within an account, the report returns the check number, selected 

date type, amount, invoice number, currency, instrument type, customer and bank 

references, and the payer’s name and bank. 




Standard Collections Report in Simplified Chinese 

Withholding Tax Report 

The J.P. Morgan ACCESS Withholding Tax Report provides a monthly list of tax paid. 

This report is available only in a Thai /English version. 

You can: 

 

Generate monthly or bimonthly reports or select other date options. 


For each Tax ID (of person who has received income), the report returns the payment 

and instrument date, the type of withholding tax, the amount of payment before tax 

deduction (gross pay), the amount of tax deducted, and other payment details. The 

report also returns the cumulative payment and tax deduction amount for the six 

persons per page who received taxable income. 







ACH Reporting 

3 

ACH Batch Summary Report 

The J.P. Morgan ACCESS ACH Batch Summary Report provides detail information on 

batches of items in various stages of processing. 


 

 

 

 

 

Review details of items entered before approval. 

Review the status of detail items Approved (“Released”) and Submitted for 

processing. The valid statuses within ACH are “Entered”, “Released” and 

“Submitted”. 

Select individual or multiple batches for review. 

Sort the batch by the ID or the Name associated with each batch entry. 

Sort the report in descending order. 

ACH Reporting Page 48



 

 

View historical information that is stored for submitted batches for 30 days. 

Print report results. 




ACH Import Summary Report 

The J.P. Morgan ACCESS ACH Import Summary Report details the results of the 

import. 


 

 

 

Determine if any records were not imported, or if any records were missing 

information or contained invalid information. 

Review system messages explaining the reasons for these errors. 

Review the total number of and total dollar amounts for records that were 

updated, new records that were created, and records that were not imported. 




ACH Validator Summary Report 

After your NACHA file is imported and validated, you can run an ACH Validator 

Summary Report to view the totals of all batches that were imported, and to view 

messages if any errors occurred. 




Funds Transfer Reporting 

4 

Lines Report 

The J.P. Morgan ACCESS Lines Report provides complete information on individual or 

all predefined funds transfer lines. 


 

 

Review the debit and credit party information. 

Display the most recent date the predefined lines was used. 

Funds Transfer Reporting Page 52



Status Report 

The J.P. Morgan ACCESS Status Report provides summary information on funds 

transfers entered, modified, approved or released. 


 

 

Review the status of funds transfers by category. 

Determine the total dollar value for funds transfers by date and status. 




Pending Approval Report 

The J.P. Morgan ACCESS Pending Approval Report provides summary information for 

funds transfers requiring approval(s). 


 

 

Review funds transfers that have not yet been approved. 

Evaluate total dollars required to send the funds transfers listed. 




Pending Release Report 

The J.P. Morgan ACCESS Pending Release Report provides summary information for 

funds transfers approved and waiting to be released. 


 

 

Review funds transfers that have been approved. 

Determine the total dollar value for funds transfers to be released. 




Transaction Detail Report 

Daily Totals Report 

The J.P. Morgan ACCESS Transaction Detail Report provides comprehensive 

information on each funds transfer. 


 

 

 

 

Review complete details for current day and historical funds transfers. 

Check approval and confirmation status for individual funds transfers. 

For FX Transactions: View the FX rate. 

For Checks/Drafts: View the serial number. 

The J.P. Morgan ACCESS Daily Totals Report provides the most recent daily totals by 

operation and transaction type. The report is used for auditing purposes. 

Notes: 

 

 

The report displays daily totals only for users assigned to a Transaction Limit 

profile through Funds Transfer Administration. A limit is a restriction on the 

type of action(s) a user can perform in the application. For example, a user 

may be able to input payments only up to $500,000. 

Only operations with limits appear on the report. The report does not show daily 

totals for users who have unlimited entitlements in Funds Transfer Initiation. 

Drafts Paid Report 




The J.P. Morgan ACCESS Drafts Paid Report provides details about the drafts released 

by the Bank on your behalf. 

The report is sorted by currency. 

It is available only to users entitled to Foreign Exchange on J.P. Morgan ACCESS. 




Contract Report 

The J.P. Morgan ACCESS Contract Report provides the details of trades you have made 

and confirmed. 

The report is sorted by: 

 

 

 

Contract date 

Buy currency 

Sell currency 





Held and Cancelled Contracts Report 

The J.P. Morgan ACCESS Held and Cancelled Contracts Report lists all held or cancelled 

contracts for the selected date range and the associated payments. It provides 

information that can be used in the event you fail to fund your account and the 

contract and associated payments are cancelled. 





FX Daily Rate Report 

The FX Daily Rates Report provides the fixed daily FX rate. 

When you create an Auto FX (FXW) transaction, this is the rate you will receive if you 

check the “Apply Daily FX Rate” box. This option is available only for transactions under 

$100,000. 




Liquidity Reporting 

5 

Money Market Activity Report 

The J.P. Morgan ACCESS Money Market Activity Report allows you to review fund 

account investment and redemption activities for the current day or any date range 

within the past 63 days. For each of your accounts, the report provides opening and 

closing balances, reference numbers, transaction types, investment transaction 

amount, Demand Deposit Accounts (DDAs), instrument codes and descriptions. 

Notes: 

 

 

The report does not include cancelled transactions. 

The report is sorted by Money Market Fund (MMF) account, instrument code 

and business date. 


 

 

 

Review investments and redemptions in a real-time environment. 

Analyze investments and redemptions by fund. 

Access historical information for the current and prior month. 

Liquidity Reporting Page 61






Money Market Accruals Report 

The J.P. Morgan ACCESS Money Market Accruals Report provides opening month-todate 

positions for all of your accounts. Also included are fund account total balances 

and the month-to-date dividend accruals as per the current business day. The report is 

sorted by Demand Deposit Account (DDA) and Direct Deposit Fund (DDF) type. 


 

 

 

Display fund account totals. 

Review month to date dividend accruals. 

Analyze your current Funds Positions. 







Money Market Fund Rates Report 

The J.P. Morgan ACCESS Money Market Fund Rates Report provides the historic oneday 

rate based on the previous day's close, the historic seven-day average, and the 

historic 30-day average rate for all Money Market Funds (MMFs). Also included are the 

early and late cut-off times. 


 

 

Analyze 1-day, 7-day and 30-day interest rates for each of the funds. 

Review cut-off times for fund investments. 




Account Summary Report 

The J.P. Morgan ACCESS Account Summary provides a summary of DDA accounts, 

money market fund investment accounts and fixed maturity holdings. 

This summary is displayed on the screen in the Investment Reporting section. 




Investment Summary Report 

The J.P. Morgan ACCESS Investment Summary Report provides a graphic view of all 

money market fund holdings 




Disbursement Reporting 

6 

Daily Transaction Report 

The J.P. Morgan ACCESS Daily Transaction Report displays information detailing all the 

transactions that took place on a specific date or range of dates for the accounts and 

action types requested. The report lists this information by account number and time 

of day. 

Disbursement Reporting Page 68



Reject Report 

The J.P. Morgan ACCESS Reject Report displays information detailing all transactions 

rejected for business logic errors, such as: 

 

 

Attempting to cancel an already canceled item 

Attempting to stop an already stopped check item. 

The report does not track system errors; for example, those resulting from 

communications errors. 

With this report, the information is listed by account number, action and time of day. 

Disbursement Reporting Page 69



Audit Reporting 

7 

User Access and Activities Report 

The User Access and Activities Report provides a comprehensive history of all 

application activity that occurs on the ACCESS platform. You may use the Audit Log to 

review the tasks users perform in order to track accidental or deliberate misuse of the 

system. 

This history is displayed on the screen using the Audit Log function located under the 

Utilities Tab section. 

Audit Reporting Page 70




Appendix 12. Chase Access Prepaid Card

CHASE ACCESS PREPAID CARD PROGRAM - 

CLIENT SERVICE AGREEMENT 

This Chase Access Prepaid Card Program Client Service Agreement (“Agreement”) is entered 

into as of the ____ day of __________________, 201_ (“Effective Date”) by and between the (the "Client"), 

having a place of business at __________________ and JPMorgan Chase Bank, NA, a national banking 

association organized under the laws of the United States (“Chase”), having a place of business at 1 Chase 

Manhattan Plaza, New York, New York 10081. 

WHEREAS, the Client desires to offer individuals an alternative to receiving pay or other 

disbursements by check or cash; and 

WHEREAS, Chase offers a program ("Program") to entities whereby individuals (“Individuals”) can 

have certain disbursements deposited to an account (a "Chase Card Account") at Chase; and 

WHEREAS, from that account Individuals can withdraw funds at their convenience through use of a 

debit card (a "Chase Access Prepaid Card") which can be used at automated teller machines ("ATMs") and 

at point of sale (“POS”) terminals; and 

WHEREAS, the Client desires to offer the Program to qualifying Individuals, and Chase is willing to 

provide the Program to the Client upon the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the premises and of the mutual consideration set forth 

herein, the parties hereto agree as follows: 

1. Cardholder Enrollment and Chase Access Prepaid Cards. 

(a) Chase will require each Individual desiring to participate in the Program to be 

enrolled by the Client in a manner consistent with Chase policy (“Enrollment”) and to receive a copy 

of the Cardholder Terms and Conditions ("Terms & Conditions"). Chase shall not accept any 

deposit of payments ("Entries") by the Client to a Chase Access Prepaid Card Account of any 

Individual prior to accepting an Enrollment. 

(b) Upon receipt and acceptance by Chase of the Enrollment, the Individual shall be 

deemed enrolled in the Program (a "Cardholder"). Chase shall open a Chase Access Prepaid Card 

Account in the Cardholder’s name and issue a Chase Access Prepaid Card to the Cardholder. The 

Chase Access Prepaid Card will give the Cardholder electronic access to his or her Chase Access 

Prepaid Card Account, as described in the attached Schedule of Fees and Services (“Attachment 

A”). 

(c) The Client shall send funds to be deposited to the Chase Access Prepaid Card 

Accounts. Chase shall place such funds in the designated Chase Access Prepaid Card Account. 

The Client shall instruct Chase, in a manner that the Client and Chase agree upon, regarding how 

to deposit funds to the Chase Access Prepaid Card Accounts. 

(d) The Client shall coordinate between Chase and the Cardholders all matters related 

to enrollment in the Program. 

(e) Chase will issue all necessary new and replacement Chase Access Prepaid 

Cards to the Cardholders, in such form as Chase determines, and with such ATM, POS and other 

marks or logos on them as Chase determines. Chase may change its affiliation with any ATM or 

POS networks at any time. In the event that it does so, however, Chase shall not be obligated to 

issue replacement Chase Access Prepaid Cards to then-existing Cardholders. 

CONFIDENTIAL DRAFT: For Discussion Purposes Only 

(f) In the event that any Cardholder terminates his or her participation in the Program 

or such Cardholder’s participation is terminated for any reason, the Client will cease funding the 

Chase Access Prepaid Card Account for that Cardholder. The Cardholder shall continue to have

access to his or her funds in the Chase Access Prepaid Card Account until the funds are depleted 

or the Chase Access Prepaid Card Account is closed. The Cardholder may instruct Chase to 

close his or her Chase Direct Card Account and return his or her funds by check. 

(g) If a Cardholder’s Chase Access Prepaid Card Account has a negative balance or 

overdraft, Chase shall apply the next available deposit to the Cardholder’s Chase Access Prepaid 

Card Account to recover such overdrawn funds, if such deposit occurs. The Client shall not be 

responsible for the amount of any overdraft in any Chase Access Prepaid Card Account, or for 

losses that result from fraud or from lost or stolen Chase Access Prepaid Cards, except to the 

extent that the Client’s security administrator causes such overdrafts or losses. 

(h) The Client shall be bound by and comply with this Agreement and applicable state 

and federal laws and regulations and the National Automated Clearing House Association rules 

(“NACHA Rules”), to the extent that the NACHA Rules are applicable (collectively, the "Rules"). 

2. Credit of Entries to Chase Card Accounts. 

(a) The Client shall fund the Chase Access Prepaid Card Accounts by sending funds 

by a method mutually agreed upon by the Client and Chase. 

(b) In the event that the Client fails to deliver, in a timely manner or otherwise, the 

Entries to its Originating Depository Financial Institution (“ODFI”), or otherwise fails to deliver, in a 

timely manner or otherwise, funds to Chase, the Client shall be solely responsible for notifying its 

Cardholders that funds may not be credited to their Chase Access Prepaid Card Accounts until the 

Entries are received and fully reconciled as set forth in the Rules. 

(c) Subject to the terms and conditions of this Agreement, the Rules, and the 

respective Terms & Conditions, Chase will credit the designated Chase Access Prepaid Card 

Account in the amount of each corresponding Entry received by Chase. Chase shall have no 

liability for failure to effect credit to the Chase Access Prepaid Card Accounts due to the failure of 

the Client, the ODFI or its Automated Clearing House (“ACH”) to deliver those Entries to Chase. 

(d) Chase may reject any Entries received on behalf of the Client. The Client shall 

have no right to reverse an Entry after Chase has received such Entry, except in accordance with 

applicable Rules. 

3. Correction of Errors. 

(a) Chase will use commercially reasonable efforts to act upon the Client’s request to 

cancel or amend an Entry. If the Client exercises its rights under the NACHA Rules other than for 

duplications or errors, then, to the extent allowed by applicable federal or state laws, the Client shall 

remain liable to Chase, which may seek immediate payment from the Client, for any Entries already 

credited to a Chase Access Prepaid Card Account. 

(b) Chase, at its expense, shall correct any errors due primarily to malfunctions of its 

equipment or to acts of omission or commission of Chase's personnel or failure of its software. The 

Client agrees to promptly notify Chase of the error but in any event not later than thirty (30) days 

after such error first comes to the attention of the Client. If such notification is made orally, the 

Client must send a written confirmation to Chase within five (5) days. 


4. Client Warranties. The Client warrants that barring error, each Entry shall be for an 

amount (i) due to the Cardholder and not subject to any claims by the Client or (ii) duly authorized to 

be disbursed to the Cardholder. If the Chase Access Prepaid Card is used for the payment of 

wages, the Client further warrants that it is in compliance with all applicable Rules governing the 

payment of wages, and it complies with Section 6 below. 

5. Chase Warranties. Chase warrants that it will perform its obligations under this 

Agreement in a professional manner. 

2

6. Individual Validation. The Client certifies that Individuals have completed and complied 

with all appropriate Enrollments and associated procedures, and that the Client has verified each 

Individual’s identification. Chase has the right to audit Cardholder files for purposes of verifying 

how the Client conducted the identity verification. 

7. Limitations on Damages. Neither Chase nor the Client shall be liable (no matter what 

the cause of action) for any indirect, special or consequential damages of any kind, even in the 

event that it is advised of the possibility that such damages may arise, occur or result. Chase’s 

liability to the Client for direct damages shall be limited solely to actions in which Chase has acted 

with gross negligence or willful misconduct. 

8. Back-Up of Data. The Client agrees to maintain adequate records of the Entries delivered 

to Chase to enable the Client to regenerate any of the information supplied by the Client to Chase. 

9. Force Majeure. 

(a) Chase undertakes to use commercially reasonable efforts to help assure the 

continued delivery of services under this Agreement in the event of any unplanned interruption of 

the operations of or the inaccessibility of Chase's primary facilities for the delivery of services 

hereunder due to any cause, such as those set forth in Paragraph (b) below. 

(b) Notwithstanding the undertakings in Paragraph (a) above, neither Chase nor the 

Client shall be responsible for any errors, delays or nonperformance due to events beyond its 

commercially reasonable control, including, but not limited to acts of God; failure, delay or unavailability 

of power, communications or transportation; changes in law or regulation or other acts of 

governmental authority; strike; or weather conditions. 

10. Confidentiality. 

(a) Chase shall treat all information and data received from the Client, the Cardholder 

or any third party with regard to a Cardholder as confidential and shall use reasonable care to 

safeguard all such information. 

(b) Neither Chase nor the Client may, except as required by the Rules or applicable 

federal or state laws, disclose any confidential information of the other party (or, if Chase, of the 

Client’s Cardholders), without the prior written approval of such party, provided that in the event of a 

planned disclosure under the Rules, the disclosing party shall notify the other party as promptly as 

possible and cooperate with that party (at that party’s expense) in protecting the confidential 

information from disclosure. 

(c) Chase's and the Client's obligations hereunder shall survive the termination or 

expiration of this Agreement. 


3

11. Publicity and Marketing Material. 

(a) Neither Chase nor the Client shall make any advertising or promotional use of any 

name, logo or trademark of the other without the prior written consent of the other. “Advertising or 

promotional use” includes but is not limited to the use of a party’s name on a customer or reference 

list. 

(b) The Client shall not disclose or distribute any materials related to the Program to 

any Individuals, Cardholders or others without the prior written consent of Chase. 

12. Financial Records. Unless the Client is publicly traded, it will produce or allow Chase to 

inspect financial data reasonably relating to the financial condition of the Client within a reasonable 

time after the request of Chase. 

13. Fees. The Client agrees to pay Chase for its services rendered in accordance with the Fee 

Schedule in Attachment A. Chase will also charge the Cardholders for its services rendered in 

accordance with the Fee Schedule in Attachment A, which Chase may change with no less than 

thirty (30) days notice to the Cardholder and to the Client, except that Chase may not change the 

fees within the first twelve months from the Effective Date of the Agreement. 

All pricing is based upon certain assumptions that exist at the time of the effective date of the 

Contract. Changes in federal or state law and regulations may change these assumptions causing 

change in the financial performance of the program to Chase. In the event that this occurs, the 

parties shall review such pricing and determine an agreeable solution to effectuate a change in the 

pricing structure, and the contract shall be amended accordingly by the parties. If the parties 

cannot agree to such an amendment, either party may terminate the Contract by thirty (30) days 

written notice to the other party. 

14. Term and Termination. 

(a) The term of this Agreement shall run from the Effective Date written above and 

shall remain in effect until either party gives the other party at least ninety (90) days’ written notice 

of termination. 

(b) Notwithstanding the foregoing or any other provision of this Agreement, either 

Chase or the Client may terminate this Agreement immediately, without notice, in the event that (i) 

the other materially breaches any of its material obligations under this Agreement; (ii) a bankruptcy, 

reorganization, receivership, insolvency or other similar proceeding for the arrangement of such 

party’s obligations is instituted by the other, or involuntarily against the other and is not dismissed 

within ninety (90) days; (iii) the other is unable to pay its debts as they become due or admits in 

writing its inability to pay its debts generally; or (iv) the other becomes subject to any statutory, 

administrative or court order or other official action which prevents it from continuing to provide or 

receive (respectively) Program services in the manner contemplated hereby. 

15. Notice. Any notice required or permitted under this Agreement shall be in writing. Each 

such notice shall be effective when delivered by hand or, if mailed, shall be mailed postage prepaid, 

return receipt requested, and shall be effective when received. Each such notice shall be 

addressed or delivered, 

if to the Client, at: 

or, if to Chase, at: 



300 South Riverside Plaza, IL1-0092 

Chicago, Illinois 60606 

Attn: Tracy Dangott 

or at such other address as Chase or the Client shall specify in a notice to the other in accordance 

herewith. 

4

16. Miscellaneous. 

(a) This Agreement is binding upon Chase, the Client and their respective successors 

and permitted assigns. Neither Chase nor the Client may assign this Agreement in whole or in part 

without the prior written consent of the other, except that Chase may assign this Agreement to 

another financial institution upon written notice to the Client and at its own expense. Either Chase or 

the Client may assign this Agreement to any affiliate upon written notice to the other. 

(b) Either Chase or the Client may delay or forego exercising any of its rights under 

this Agreement without waiving any of its rights. 

(c) If any part or parts of this Agreement are held to be invalid, the remaining parts of 

this Agreement shall continue to be valid and enforceable. 

(d) This Agreement and performance hereunder shall be governed by and construed 

in accordance with the laws of the State of New York without regard to the choice of law provisions 

thereof. 

(e) This Agreement represents the complete and exclusive statement of the 

agreement between Chase and the Client with respect to the subject matter of this Agreement and 

supersedes any prior understanding between them with respect to such subject matter. This 

Agreement may not be modified or altered except by a written instrument duly executed by both 

Chase and the Client. 

IN WITNESS WHEREOF, Chase and the Client have caused this Agreement to be executed by 

their duly authorized representatives on the date or dates set forth above. 

By: 

Printed 

Name: 

Title: 

(Authorized Signature) 

Date: ___________________________________ 

By: 

Printed 

Name: 


JPMORGAN CHASE BANK, NA 

(Authorized Signature) 


Date: 

5

ATTACHMENT A 

SCHEDULE OF FEES AND SERVICES 

Program Description: Electronic Payment Card program for the Agency’s payees who choose to receive their 

entitlement and/or other receipts via the Chase Access Prepaid Card. 

Enrollment Method: The Client will enroll Cardholders in the program via Web. 

Card Attributes: 

Currency of Issue - US Dollar 

 

 

 

 

 

Card Type - Primary Cards: The Cardholder will have access to the funds in the Chase Card Account through his or 

her Chase Access Prepaid Card. 

Card Design – Standard Chase Access Prepaid Card. 

Card Acceptance – Cardholder may access funds by using his or her Chase Access Prepaid Card for signature-based 

transactions at participating retail locations as specified in the fee schedule; and for PIN-based transactions at 

participating retail locations and Automated Teller Machines (ATMs) supporting the program. Primary Cardholder may 

also use his or her Chase Access Prepaid Card to access funds surcharge-free at ATMs displaying the Chase or 

Allpoint logo(s) as specified in the fee schedule. Cardholders may request cash back through PIN-based transactions 

at participating retail locations and obtain over-the-counter cash advances at participating member bank branches. 

Fraud Prevention –Chase reserves the right to restrict card usage and limit the types of transactions available on the 

Access Prepaid Card to prevent money laundering or restrict cardholders from engaging in other card related fraud. 

In addition, Chase may also take such further actions as it deems necessary to prevent or minimize fraudulent 

activity. The actions which Chase takes may not substantially hinder the cardholder’s use of his/her Card. 

Card Package – Primary Cardholder will receive the Chase Access Prepaid Card, Card Carrier, Terms & Conditions 

and Cardholder Guide. 

Activation Process: Primary Cardholder can activate his or her card via Chase’s toll-free customer service number or by 

first use of his or her PIN (for replacement cards after the first card has been activated). 

Statements: Cardholder will have access to monthly statements of his or her activity by Web or telephone. Mailed 

statements will be provided to Cardholders at a cost upon Cardholder’s request. Statements may not be provided if a 

Chase Card Account is inactive. 

Customer Service: Primary Cardholder may obtain Chase Access Prepaid Card Account balance information, 

transaction history, PIN services, lost or stolen card assistance, and initiate transaction claims via the Web or by calling 

Chase’s toll-free customer service number 24 hours a day, 7 days a week. If a Chase Access Prepaid Card is lost or 

stolen, Primary Cardholder can mitigate his or her fund losses due to fraud by calling Chase immediately. 


- 6 -

Chase Access Prepaid Fee Schedule 

Service 

Fee 

Fees Paid by Agency 

—Program Setup Fee 

$1,500, waived 

—New Cardholder Enrollment 

Waived 

—Monthly Maintenance $100/month, waived in months with >100 

transacting cards 

Fees Paid by Cardholder 

—Account Enrollment 

N/A 

—Account Maintenance 

N/A 

ATM Cash Withdrawal 1 

—At Chase ATMs 

Free 

—At non-Chase ATMs in the US 

2 free per deposit; then $1.00 each 

—At ATMs , International 

$3.00 each 

ATM Balance Inquiry 

— At Chase ATMs Free 

—At non-Chase ATMs in the US 

2 free per deposit; then $0.50 each 

—At ATMs, International 

$1.00 each 

Retail Purchase 

—with signature 

Free 

—with PIN (includes cash back) 

Free 

Teller-assisted Withdrawal at Visa Member Bank 1 free per deposit; then $5.00 each 

Online Bill Payment at www.myaccount.chase.com $0.75 per bill payment 

Transaction Denied for Insufficient Funds 2 

2 free per deposit, then $0.50 each 

Customer Service — web 

Free 

Customer Service — phone 

8 free calls per month; then $0.25 each 

My Alerts Notification Service 

Free 

Card Replacement — standard delivery 

1 free per year; then $7.50 each 

Card Replacement — expedited delivery 


ACH Transfer to Chase Account 

Free 

ACH Transfer to non-Chase Account 

$0.25 each 

Account statement — web 

Free 

Account statement — mail 

$1.00 per month, upon request only 

International Transaction Fee 

3.0% of transaction 

Inactive Account 3 

$1.50 per month 

Account Closure with Check Issuance 

Free 

1 Some ATM owners and operators may charge an additional fee per transaction, called a surcharge. There are no surcharges 

at Chase or Allpoint ATMs. 

2 This fee will be assessed if a POS or ATM transaction is denied due to insufficient funds in your Account. 

3 A monthly fee will be assessed on each Account that has been inactive for 365 days. Fee is not assessed during periods of 

activity. Account activity is defined as a deposit, withdrawal, purchase or any type of financial activity. 


- 7 -




Appendix 13. Sample Service Agreements

V1.6_10_24_11 

Consolidated 

Service Terms 

J.P. Morgan Chase provides an array of treasury services to meet 

your business needs. This booklet contains important information 

about J.P. Morgan Chase solutions that we provide. If you would 

like to add a service that is covered in this booklet, please contact 

your Commercial Banking Representative 

TREASURY SERVICES (United States) 

Commercial Bank

Account Terms 

V1.1_10_04_10 

INTRODUCTION 

This document (the “Account Terms”), contains the general terms and conditions and other disclosures for the accounts and services which 

the Customer may select, and constitutes an agreement between the Bank and the Customer. References to “the Bank”, when used in the 

Account Terms, shall mean JPMorgan Chase Bank, N.A., and any of its affiliates or subsidiaries, as applicable. References to the 

“Customer” in the Account Terms mean the governmental, nonprofit, or business entity to which the Bank provides accounts and services. All 

accounts subject to the Account Terms are, regardless of their location, referred to in this document as “Accounts”. The Account Terms may 

be supplemented or amended by existing or future agreements, terms and conditions, and notices, including, but not limited to any terms 

contained in an account application, country addendum, signature card or similar document for an Account or arrangements regarding specific 

types of Accounts or services (“Services”) offered by the Bank, as described herein or which by their terms (“Service Terms”) are subject to 

the Account Terms. By signing the signature card, account application or similar document or by using or continuing to use any of the 

Accounts or Services, the Customer agrees to the Account Terms and such supplements, amendments, agreements, terms and conditions, 

notices or Service Terms, as applicable. 

The Accounts established with the Bank are subject to the Account Terms and relevant Account documentation, which shall include 

jurisdiction specific provisions set forth in an account application or country-specific addendum for the jurisdiction in which the Accounts are 

held (collectively, “Account Documentation”). The Customer shall not transfer any of its rights and obligations in an Account or with respect to 

a Service, or create any form of security interest over such rights and obligations or in an Account, without the prior written consent of the 

Bank. 

The Account Terms or Service Terms may vary applicable law or regulation to the maximum extent permitted under any such law or 

regulation. Any provision of applicable law or regulation that cannot be varied shall supersede any conflicting term of the Account Terms or 

Service Terms. 

1. Authorized Persons. 

1.1 The Bank is authorized to rely upon any document that indicates the person authorized to act on behalf of the Customer (“Authorized 

Person”) with respect to the Accounts and Services, until the authority for such Authorized Person is withdrawn by the Customer upon 

written notice to the Bank, and the Bank has had a reasonable opportunity to act on the termination instruction. The Customer will 

provide specimen signatures of such Authorized Person to the Bank in the manner requested by the Bank. 

1.2 Each Authorized Person, subject to any written limitation provided by the Customer and received and accepted by the Bank, is 

authorized on behalf of the Customer to: open, operate and close Accounts; overdraw Accounts as permitted by the Bank; appoint and 

remove Authorized Persons; execute or otherwise agree to any form of agreement relating to the Accounts or Services, including, 

without limitation, Account Documentation; execute guarantees, indemnities or other undertakings to the Bank in relation to 

guarantees, letters of credit or other financial transactions, or in relation to missing documents; draw, accept, endorse or discount 

checks, drafts, bills of exchange, notes and other financial instruments (“Items”); receive materials related to security procedures; and 

give instructions (“Instructions”), including, without limitation, requests and payment orders, by means other than the signing of an Item, 

with respect to any Account transaction. Without limitation, such Instructions may be given singly or otherwise regarding: (i) the 

payment, transfer or withdrawal of funds by wire, computer or other electronic means, or otherwise; (ii) money, credits, items or 

property at any time held by the Bank for account of the Customer; or (iii) any other transaction of the Customer with the Bank. 

1.3 If the Customer provides the Bank with facsimile signature specimens, or if the Customer issues Items with a facsimile signature on 

one or more occasions, the Bank is authorized to pay Items signed by facsimile signature (including, but not limited to, computer 

generated signatures) if the actual or purported facsimile signature, regardless of how or by whom affixed, resembles the specimens 

filed with the Bank by the Customer, or resembles a specimen facsimile signature otherwise employed for the Customer’s benefit. 

SAMPLE 

1.4 The Customer represents that, prior to submitting any document or information, including through any electronic transmission, which 

designates the persons authorized to act on the Customer’s behalf, including as a user of the Bank’s electronic access systems, the 

Customer shall obtain from each individual referred to in such document all necessary consents to enable the Bank to process the data 

set out therein for the purposes of providing the Service. 

2. Instructions; Security Procedures. 

2.1 The Bank and the Customer may from time to time agree upon a security procedure to be followed by the Customer upon the issuance 

of an Instruction and/or by the Bank upon the receipt of an Instruction, so as to enable the Bank to verify that such Instruction is 

effective as that of the Customer. A security procedure may require the use of algorithms or other codes, identifying words or 

numbers, encryption, call back procedures or similar security devices. It is understood that such security procedure is designed to 

verify the authenticity of, and not to detect errors in, Instructions. The Customer agrees to safeguard such security procedure and to 

make it available only to authorized persons. Any Instruction, the authenticity of which has been verified through such security 

procedure, shall be effective as that of the Customer. An authenticated SWIFT message issued to the Bank in the name of the 

Customer shall be deemed to have been given by an Authorized Person. The Customer shall be bound by and adhere to the security 

procedures for use of the Service advised to it in writing or electronically by the Bank, as may be revised from time to time upon notice 

to the Customer. 

2.2 The Bank is not obligated to confirm any Instructions. If the Customer, other than with respect to security procedures, chooses to 

confirm an Instruction, any confirmation must be clearly marked as such, and, if there is any discrepancy between an Instruction and a 

confirmation, the terms of the Instruction shall prevail. Subject to Section 5.6, the Bank may, at its option, use any means to confirm or 

clarify any request or Instruction, even if any agreed security procedure appears to have been followed. If the Bank is not satisfied with 

any confirmation or clarification, it may decline to honor the Instruction.

3. Deposits. 

3.1 All Items deposited or cashed are received for collection only, and are received subject to final payment. The Bank may agree with 

other banks and clearing houses to vary procedures regarding the collection or return of Items, and deadlines to the extent permitted 

by applicable law or practice. The Bank chooses the method of collecting Items and may use other banks in the process. The Bank 

will present Items in accordance with the custom and practice of the jurisdiction in which the Items are collected. The Bank is not 

responsible for actions taken by other banks, nor for the loss or destruction of any Item in the possession of other banks or in transit. 

The Customer agrees to use reasonable efforts to assist the Bank in locating or obtaining replacements of Items lost while in the 

Bank’s possession. 

3.2 Credits and deposits to an Account will be available in accordance with the Bank’s availability policy and in accordance with applicable 

laws. If the Bank credits an Account: (i) in contemplation of receiving funds for the Customer’s credit and those funds are not actually 

received by the Bank, or (ii) in reliance on a transaction which is subsequently returned, reversed, set aside or revoked, or if the Bank 

does not receive funds for the Customer’s credit for value on the date advised by or on behalf of the Customer, or if final settlement is 

not received by the Bank for any reason, then the Bank shall be entitled to debit any Account of the Customer with the amount 

previously credited and/or with any other charges incurred, even if doing so creates or increases an overdraft. 

3.3 If the Customer sends an Item to the Bank on a collection basis, the Bank may defer credit or payment for a reasonable time, in 

accordance with its practices, without dishonor; and the Bank shall not be obligated thereon until it has remitted final payment. 

4. Payment of Items. 

4.1 The Bank is authorized to pay any Item drawn on the Account, in accordance with the Bank’s usual procedures, including, without 

limitation, any item that purports to be a substitute check. The Bank is authorized to debit the Account on which the Item is drawn on 

the day the Item is presented, certified or accepted, or at such earlier time that the Bank receives notice by electronic or other means 

that an Item drawn on an Account has been deposited for collection. The Bank may determine Account balances in order to decide 

whether to dishonor an Item for insufficient funds at any time between receiving such presentment or notice and the time of the return 

of the Item, and need make no more than one such determination. 

4.2 The Bank is authorized to pay all Items presented to it or cashed at the Bank, regardless of amount and without inquiry as to the 

circumstances of issue, negotiation or endorsement or as to the disposition of proceeds, even if drawn, endorsed or payable to cash, 

bearer or the order of the signer or any Authorized Person or to a lender in payment of that individual’s obligations. 

4.3 The Customer shall immediately notify the Bank if it becomes aware that any Items (whether completed or blank) are lost or stolen. 

The Customer shall not use its Account to allow any third party to issue checks or otherwise use the Account unless specifically agreed 

to in writing by the Bank. The Customer shall not issue Items that are post-dated, and the Bank shall not be liable for any damages 

caused by premature payment or certification of a post-dated Item. Further, the Customer shall not put any condition, restriction or 

legend on any Item, and the Bank is not required to comply with any such condition, restriction or legend. 

4.4 The Bank may process any Item by electronic means. All Items the Customer draws against any Account must comply with the Bank’s 

check specifications and image standards, published from time to time, and industry standards. The Bank shall not be liable for 

damages or losses due to any delay or failure in procuring, collecting or paying Items not conforming to such specifications or 

standards, except to the extent such losses or damages are the result of the Bank’s gross negligence or willful misconduct. 

5. Funds Transfer Instructions. 

SAMPLE 

5.1 The Customer may issue funds transfer Instructions against Accounts, subject to the Bank’s acceptance. Funds transfer Instructions 

will be received, processed and transmitted only on the Bank’s funds transfer business days, and within the Bank’s established cut-off 

hours on such days. Communications requesting cancellation or amendment of payment orders must be received at a time and in a 

manner affording the Bank a reasonable opportunity to act on the communication. The Customer may reverse, amend, cancel or 

revoke any Instructions only with the consent of the Bank and the beneficiary’s bank. The Bank will debit the Account for the amount 

of each funds transfer Instruction accepted by the Bank, and the Customer authorizes the Bank to debit the Account for all fees 

associated with any funds transfer Instruction, including debit and credit processing charges, or to otherwise deduct such fees from the 

amount of the payment order. In processing the funds transfer, other banks may deduct fees from the payment order issued to them. 

No restrictions upon the acceptance of funds transfer Instructions by the Bank or upon the Accounts that the Bank may debit shall be 

binding unless agreed to by the Bank in writing. The Bank shall not be required to inquire into the circumstances of any transaction. 

5.2 Notwithstanding any instructions by the Customer to the contrary, the Bank reserves the right to use any funds transfer system and any 

intermediary bank in the execution of any funds transfer Instruction and may otherwise use any means of executing the funds transfer 

Instruction which the Bank deems reasonable in the circumstances. 

5.3 In connection with any funds transfer, the Bank and other financial institutions may rely upon the identifying number of the beneficiary, 

the beneficiary’s bank or any intermediary bank included in the funds transfer. Also, the beneficiary’s bank in the funds transfer 

Instruction may make payment on the basis of the identifying number even though it identifies a person different from the named 

beneficiary. Accordingly, the Customer shall be responsible for the consequences of any inconsistency between the name and 

identifying number, as instructed, of any party in such a funds transfer Instruction. 

5.4 In accepting a funds transfer Instruction issued in the Customer’s name for payment in currency other than the currency of the 

Account, the Bank is authorized to debit the Account for the equivalent amount of the foreign currency transferred at the Bank’s 

prevailing rate of exchange or as otherwise agreed. If the Bank accepts funds transfer Instructions issued in a foreign currency where 

the Customer is the beneficiary, the Bank may convert the funds to the currency of the Account at the Bank’s applicable currency 

exchange rate and charge the Customer a fee for such currency conversion. In accepting a funds transfer instruction issued in the

Customer’s name for payment to a receiving bank located outside of the United States, the Customer agrees that, subject to any 

restrictions under applicable law or regulations, the Bank may convert the funds to the local currency of the location of the receiving 

bank at the Bank’s then prevailing rate of exchange. The Bank may deduct its fee for such conversion from the payment amount. 

Notwithstanding any prior action or course of dealing, subject to applicable law and regulations, the Bank has no obligation to cancel, 

reverse or otherwise buy back foreign currencies purchased by the Customer under a Service and, the Bank makes no commitment to 

buy back currencies. The Customer acknowledges that it may not be able to sell back certain foreign currencies once purchased. 

5.5 If the Customer elects to settle foreign exchange transactions by draft, the Customer acknowledges and agrees that in the event the 

draft is not presented for payment within one hundred eighty (180) calendar days from the date of issuance, the Bank, subject to any 

restrictions under applicable law or regulations, shall have the right to cancel the draft, and the Customer authorizes the Bank to 

reconvert the funds into the original currency at the then current rate and re-credit the Customer’s Account. If the remitter is no longer 

a customer of the Bank, the Bank may, in its discretion, transfer balances to an unclaimed moneys account, or issue a cashier’s check, 

sending it to the address of the Customer on the books and records of the Bank. In the event that the payee, holder or other third party 

claims against the Bank on a cancelled draft, the Customer agrees that it shall be responsible for any losses in connection with such 

cancellation, including any amount recredited or otherwise paid to the Customer. The Customer acknowledges and agrees that 

applicable service charges and expenses, including stop payment and periodic maintenance fees, may be charged to the Customer’s 

Account or otherwise deducted from the amount to be paid to the Customer. 

5.6 Unless the Customer and the Bank have agreed in writing to an alternate security procedure, the authenticity of oral or written 

(including those transmitted by facsimile) funds transfer Instructions may, at the Bank’s discretion, be verified by telephonic call-back 

confirmation with an Authorized Person. The Customer agrees that this security procedure is commercially reasonable for such 

Instructions. The Customer further agrees to be bound by such funds transfer Instructions, whether or not authorized, if issued in the 

name of the Customer using such security procedure. 

6. Interest; Fees; Taxes. 

6.1 The Bank may pay interest on certain interest-bearing Accounts at a rate determined by the Bank. The Bank may adjust interest paid 

(or principal, if permitted by law) and/or impose any charges on time deposit Accounts or fixed term Accounts from which withdrawals 

are made prior to maturity. Early withdrawal charges may require a reduction in the principal amount if the amount of accrued and 

unpaid interest on the deposit is less than the charge. 

6.2 The Bank may impose, charge, pass-through and modify fees and/or charges for Accounts and Services provided by the Bank, 

including, but not limited to, transaction, maintenance, balance-deficiency, and service fees and other charges, including those levied 

by any governmental authority and taxes (collectively “Fees”). The Customer will pay all Fees. The Bank may debit any Account for 

Fees, whether or not such debit may result in an overdraft of the Account. All payments to the Bank shall be in full, without set-off or 

counterclaim, and free of any deduction or withholdings related to any tax or other claim. 

6.3 The Customer will pay or reimburse the Bank for any taxes, levies, imposts, deductions, charges, stamp, transaction and other duties 

and withholdings (together with any related interest, penalties, fines, and expenses) in connection with the Account or Services 

(including payments or receipts to an Account) except if imposed on the overall net income of the Bank. The Customer will provide the 

Bank such documentation, declarations, certifications and information as the Bank may require in connection with taxation and 

warrants that such information is true and correct in every respect and shall immediately notify the Bank if any information requires 

updating or correction. 

7. Account Statements. 

SAMPLE 

7.1 The Bank will issue Account statements, confirmations, or advices (“Account Statements”) at the frequency and in the manner advised 

to the Customer from time to time. The Customer is responsible for ensuring that an Authorized Person promptly examines each 

Account Statement and any accompanying Items which it receives or are made available to it by the Bank, and reporting any 

irregularities to the Bank in writing, including any claim of improper or unauthorized funds transfer activity. The Bank shall not be 

responsible for the Customer’s reliance on balance, transaction or related information that is subsequently updated or corrected or for 

the accuracy or timeliness of information supplied by any third party to the Bank. Internet Account Statements or electronic Account 

Statements, if applicable, shall be deemed by the Customer and the Bank to be available to the Customer when the Account 

Statements are posted on the Internet and the Bank sends an electronic mail notification of availability to the Customer, or when the 

Bank sends the electronic Account Statement to the Customer. For purposes of determining when an Item is sent to the Customer, an 

image of an Item or information identifying the Item (i.e. Item number, amount and date of payment) is a sufficient substitute for the 

actual Item. 

8. Overdrafts. 

8.1 The Bank may debit the Account even though the debit may bring about or increase an overdraft. Unless otherwise agreed in writing, 

any overdraft shall be immediately due and payable by the Customer to the Bank. If the Bank permits an overdraft, the Bank is 

authorized to charge interest on the amount of the overdraft as long as the overdraft is outstanding, at the rate determined by the Bank, 

up to the maximum rate permitted by law at the time of the overdraft or at the specific rate agreed in writing between the Customer and 

the Bank. Subject to applicable laws and regulations, interest shall remain applicable to any negative balance in the Account 

notwithstanding closure of the Account and/or termination of these Account Terms. Whether or not the Bank pays an Item that brings 

about or increases an overdraft, the Bank may deduct the applicable overdraft fees and expenses from the Account without notice. 

Unless agreed in writing, the Bank is under no obligation to permit any overdraft or to continue to permit overdrafts after having 

permitted an overdraft, notwithstanding any prior action or course of dealing.

8.2 When Items and other debits to the Account are presented to the Bank for payment on the same day and there are insufficient 

available funds in the Account to pay all of these transactions, the Bank may choose the order in which it pays transactions, including, 

without limitation, the largest transaction first or any other order determined by the Bank, in its sole discretion. 

9. Set Off. 

The Bank may at any time, without prejudice to any other rights which it may have, and without prior notice or demand for payment, 

combine, consolidate or merge all or any of the Accounts of the Customer or may retain, apply or set off any money, deposits or 

balances held in, or standing to the credit of, any Account in any currency towards payment of any amount owing by the Customer to the 

Bank or any of its affiliates. The Bank shall be entitled to accelerate the maturity of any time deposit or fixed term deposit. For the 

purposes of this Section the Bank may effect currency conversions at such times or rates as it may think reasonable and may effect 

such transfers between any Accounts as it considers necessary. The Customer grants to the Bank a lien and security interest in any 

Accounts of the Customer at the Bank, in order to secure any and all obligations and liabilities of the Customer to the Bank. 

10. Agents; Information. 

The Customer authorizes the Bank to retain an agent to perform data processing, collection and other services that the Bank considers 

necessary or desirable and to modify or terminate the Bank’s arrangements with the Bank’s agents at any time. The Customer agrees 

that requests, Instructions, and information with respect to Accounts, the Customer itself, or transactions to be disclosed in accordance 

with the Account Terms, may be transmitted across national boundaries and through networks, including networks owned and operated 

by third parties. The Customer authorizes the Bank to disclose the Customer’s Accounts and service agreements, in addition to 

information with respect to any Account and Service, the Customer itself, or any transaction in which: (i) the disclosure, in the Bank’s 

opinion, is necessary or desirable for the purpose of allowing the Bank to perform its duties and to exercise its powers and rights 

hereunder; (ii) the disclosure is to a proposed assignee of the rights of the Bank; (iii) the disclosure is to a branch, affiliate, subsidiary, 

employee or agent of the Bank or to its auditors, regulators or legal advisers; (iv) the disclosure is to the auditors of the Customer; or (v) 

the disclosure is permitted or required by law, regardless of whether the disclosure is made in the country in which the Customer 

resides, in which the Account is maintained, or in which the transaction is conducted. 

11. Liability Limitation; Force Majeure. 

11.1 The Bank, its agents, employees, officers and directors, shall not be liable for any damage, loss, expense or liability of any nature 

which the Customer may suffer or incur, except to the extent of direct losses or expenses attributable to the gross negligence or willful 

misconduct of the Bank, its agents, employees, officers or directors. The Bank, its agents, employees, officers and directors shall not, 

in any event, be liable for indirect, special, consequential or punitive loss or damage of any kind (including, but not limited to lost 

profits), whether or not foreseeable, even if the Bank, its agents, employees, officers or directors have been advised of the likelihood of 

such loss or damage, and regardless of whether the claim for loss or damage is made in negligence, gross negligence, for breach of 

contract or otherwise; provided, however, that the foregoing shall not apply to the extent such loss or damage is caused by fraud on 

the part of the Bank, its agents, employees, officers or directors. 

11.2 Neither the Bank nor the Customer shall be liable for any loss or damage to the other for its failure to perform or delay in the 

performance of its obligation resulting from an act of God, act of governmental authority, de jure or de facto, legal constraint, war, 

terrorism, catastrophe, fire, flood or electrical, computer, mechanical or telecommunications failure, or failure of any agent or 

correspondent, or unavailability of a payment system, or any cause beyond its reasonable control. 

12. Indemnity. 

SAMPLE 

The Customer agrees to indemnify and hold the Bank, and its agents, employees, officers and directors, harmless from and against any 

and all claims, damages, demands, judgments, liabilities, losses, costs and expenses (including attorneys’ fees) resulting directly or 

indirectly from: (i) the Bank’s acceptance or execution of any request or direction, including, without limitation, Items and Instructions 

issued in the name of an Authorized Person; or (ii) the Bank’s payment of any taxes, interest or penalty otherwise due from the 

Customer paid on the Customer’s behalf, or for which the Bank has no responsibility under the Account Terms. 

13. Notices. 

All Account Statements and notices may be sent to the Customer by ordinary mail, courier, facsimile transmission, electronic 

transmission (including but not limited to SWIFT communication), through internet sites, or by such other means as the Customer and 

the Bank agree upon from time to time, at the address of the Customer on the books and records of the Bank. Unless otherwise 

arranged, all notices to the Bank must be sent to the Bank to the officer or service representative managing the Account, and must be 

sent by ordinary mail, by courier, by facsimile transmission, by electronic transmission or by such other means as the Customer and the 

Bank agree upon from time to time. The Bank shall have a reasonable time to act on any notices received. 

14. Termination. 

Unless otherwise agreed, either the Bank or the Customer may close an Account or terminate a Service by giving the other party not 

less than thirty (30) calendar days’ prior written notice of intent to close or terminate. Notwithstanding the foregoing, either party may 

terminate an Account or a Service upon written notice to the other party in the event of: (i) a breach of the Account Terms or Service 

Terms by the other party; (ii) the other party’s inability to meet its debts as they become due, receivership, administration, liquidation, or 

voluntary or involuntary bankruptcy; or the institution of any proceeding therefor, any assignment for the benefit of the other party’s 

creditors, or anything analogous to the foregoing in any applicable jurisdiction, or a determination in good faith by the terminating party 

that the financial or business condition of the other party has become impaired; (iii) a determination by the terminating party, in its sole 

opinion, that termination is necessary or required by law or regulation, or as a result of a court or regulatory agency order or proceeding; 

or (iv) a good faith belief by the terminating party that the other party is engaged in activities that are inconsistent with the terminating

party’s policies. The Bank shall have a reasonable opportunity to act upon any termination request. The Bank may (but shall not be 

obliged to) complete all requests and instructions received by it prior to receipt of the termination request, in addition to any request or 

instruction accepted on the day termination is to become effective. Notwithstanding anything to the contrary in any Service Terms, upon 

the closing of an Account, all Services linked to such Account are simultaneously terminated (unless otherwise specifically agreed to by 

the parties) and the Bank’s obligations in respect of such Account or Services will terminate. However, any such closing or termination 

shall not affect the Customer’s liabilities to the Bank arising prior to, or on, such closing or termination, all of which shall continue in full 

force and effect. Interest on overdrafts as provided for in Section 8.1 of the Account Terms shall remain applicable to any negative 

balances on the Account after termination hereof. In the absence of Instructions from the Customer, the Bank may transfer balances to 

an unclaimed moneys account, or issue a cashier’s check, sending it to the address of the Customer on the books and records of the 

Bank. 

15. Account Disclosures. 

15.1 The Bank may return or refuse to accept all or any part of a deposit or credit to an Account, at any time, and will not be liable to the 

Customer for doing so, even if such action causes outstanding Items to be dishonored and returned, or payment orders to be rejected. 

Refused deposits will be returned to the Customer. 

15.2 The Bank may refuse to allow a withdrawal from any Account in certain cases including, but not limited to, cases where: (i) there is a 

dispute about the Account (unless a court or other competent authority has ordered the Bank to allow the withdrawal); (ii) a legal 

garnishment or attachment is served, including, but not limited to, a levy, restraining notice or court order; (iii) the Account is being 

used as collateral to secure a debt; (iv) Account Documentation has not been presented; or (v) the Customer fails to pay a Bank loan 

or other debt or obligation to the Bank on time. 

15.3 Any amount standing to the credit of any Account with the Bank is payable exclusively at the branch at which the Account is held; 

however, payment may be suspended from time to time in order to comply with any law, regulation, governmental decree or similar 

order, in any jurisdiction, for the time being affecting the Bank, its officers, employees, affiliates, agents or correspondents. The 

Customer acknowledges that deposits held in a branch of the Bank located outside the United States: (i) are not insured by the Federal 

Deposit Insurance Corporation or any other United States governmental agency; (ii) are subject to cross-border risks; and (iii) have a 

lesser preference as compared to deposits held in the United States in the event of a liquidation of the Bank. 

16. Governing Law. 

16.1 The Account Terms, the relevant Account Documentation and the rights and obligations of the Customer and the Bank in respect of 

each Account shall be governed by and construed in accordance with the laws of the country in which the branch holding the relevant 

Account is located. 

16.2 The Customer and the Bank hereby irrevocably waive all right to, and will not seek, trial by jury in any action, proceeding or 

counterclaim, of whatever type or nature, arising out of these Account Terms or the relationship established hereby. Any claim in 

connection with Accounts which are the subject of these Account Terms, unless a shorter period of time is expressly provided, must be 

brought against the Bank within two (2) years of the occurrence of the cause of action, except as prohibited by applicable law. 

16.3 In relation to each Account, the courts of the country or state in which the branch of the Bank at which the relevant Account is held 

shall have exclusive jurisdiction to settle any disputes that arise out of or are connected with the Account Terms, the relevant Account 

Documentation and/or the relevant Account. This section is for the benefit of the Bank only and does not prevent the Bank from taking 

proceedings in the courts of any other country or state with jurisdiction including, to the extent allowed by law, concurrently in any 

number of countries or states. 

17. Miscellaneous. 

SAMPLE 

17.1 If the Account Terms, Account Documentation, including, without limitation, Service Terms, are translated into, or appear in a language 

other than English, the English language version shall control. 

17.2 The term Bank shall include any successors of the Bank including, without limitation, an assignee or successors of JPMorgan Chase 

Bank, N.A. or any affiliate or subsidiary of such bank or any person who, under the laws of the jurisdiction of incorporation or domicile, 

has assumed the rights and obligations of the Bank, affiliate or subsidiary hereunder or to which under such laws the same have been 

transferred. 

17.3 Any terms of any supplement, amendment, agreement, Service Terms or notice that are inconsistent with a provision of the Account 

Terms shall supersede the Account Terms’ provision for purposes of the particular account or Service which is the subject thereof. 

The Account Terms supersede and replace any other account conditions previously sent to the Customer. 

17.4 Section headings are for convenience only and shall not affect the meaning of the Account Terms. If any provision of the Account 

Terms shall be held to be illegal, invalid, or unenforceable the validity of the remaining portions of the Account Terms shall not be 

affected. 

17.5 The Customer represents and warrants that it shall comply with all applicable laws and regulations. The Bank will not be obligated to 

execute payment orders or effect any other transaction hereunder where the beneficiary or other payee is a person or entity with whom 

the Bank is prohibited to do business by any law or regulation applicable to the Bank in any jurisdiction (including without limitation, 

applicable laws and regulations regarding persons or entities which may be subject to sanctions), or in any case where compliance 

would, in the Bank’s opinion, conflict with applicable law or banking practice or its own policies and procedures. Where the Bank does 

not execute a payment order or effect a transaction for such reasons, the Bank may also take any other such action as is required

under any law or regulation applicable to the Bank in any jurisdiction including, without limitation, freezing or blocking of funds. 

Transaction screening may result in delays in the posting of such transactions and/or funds availability. 

17.6 The Bank may change or update these Account Terms or impose other restrictions on the Accounts or Services, as the Bank deems 

necessary in the course of its business, at any time, by the sending of notice by means of ordinary mail or through electronic channels. 

Changes to the Account Terms which are required by law may be implemented immediately or as required by law. The Bank may 

waive any of these Account Terms, but such waiver shall apply only on that occasion. Such waiver shall not constitute a waiver of any 

other provision of the Account Terms or Account Documentation. Any such waiver shall not affect the Bank’s right to enforce any of its 

rights with respect to other customers or to enforce any of its rights with respect to later transactions with Customer and is not sufficient 

to modify the terms and conditions of this Agreement. 

17.7 To the extent that the Customer has or hereafter may acquire any immunity (including sovereign, crown or similar immunity) from 

jurisdiction of any court, suit or legal process (whether from service of notice, injunction, attachment, execution or enforcement of any 

judgment or otherwise), the Customer irrevocably waives and agrees not to claim such immunity. 

17.8 The Customer agrees at its sole expense: (i) to advise each of its employees, officers, agents or other persons accessing any Service 

by or on behalf of Customer (“Users”) of their obligations under the Account Terms or under any Service Terms or ancillary Service 

material, including, but not limited to, the obligation to refrain from using the Service via the Internet in the countries identified by the 

Bank; and (ii) to provide the Bank with all information reasonably necessary to setup and provide Services for the Customer, including, 

but not limited to, advising the Bank of the countries from which Users will access any Service via the Internet. Customer shall 

promptly provide the Bank with a notice of any claims it receives regarding a Service. 

17.9 The Bank or the Customer, at its sole discretion, may make recordings and retain such recordings of telephone conversations between 

the Customer and the Bank. 

17.10 All payment Instructions, whether Items, payment orders or otherwise, are subject to applicable law and payment system rules. 

17.11 The Bank may retain copies (paper, electronic or otherwise) of any documents or Items relating to the Accounts and Services in a form 

preserving an image of any such documents or Items, including signatures, or a regular business record and discard the original 

documents or Items. The Customer hereby waives any objection to the use of such records in lieu of their paper equivalents for any 

purpose and in any forum, venue or jurisdiction, including, without limitation, objections arising from the Bank’s role or acquiescence in 

the destruction of the originals. 

17.12 All intellectual property rights in or relating to a Service, including any trademarks, service marks, logos, and trade names used in 

conjunction with a Service are the property of the Bank or its licensors and are protected by applicable copyright, patent, trademark 

and other intellectual property law. Except as provided herein, the Customer shall not reproduce, transmit, sell, display, distribute, 

establish any hyperlink to, provide access to, modify, or commercially exploit in whole or in part any part of a Service, without the prior 

written consent of the Bank. 

17.13 To assist in the fight against the funding of terrorism and money laundering activities, applicable law or regulations may require 

financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for 

the Customer: When the Customer opens an account, the Bank may ask for the Customer’s name, address, date of birth (for 

individuals), and/or other information and documents that will allow the Bank to identify the Customer. The Customer agrees that the 

Bank also may request and obtain certain information from third parties regarding the Customer. For purposes of this provision, the 

Customer, to the extent required by law or regulation, shall include any signatory on an Account. If the Customer fails to provide or 

consent to the provision of any such information, the Bank may close any Account or discontinue providing any Service without further 

notice. 

SAMPLE 

17.14 The Customer agrees that the Bank may deliver, make available and/or make accessible terms and conditions applicable to Accounts 

and Services to the Customer via electronic means and channels (including but not limited to by posting such terms on a Bank 

website). The Bank may request that the Customer “click” its approval of such terms. Subject to applicable law and regulations, the 

Customer agrees that the act of “clicking” its approval (or any similar act which has the same effect) with respect to any such terms will 

be evidence of Customer’s acceptance of the applicable terms and conditions, to the same extent, and with the same force and effect, 

as if Customer had manually executed a written version of such terms and conditions. 

18. Disputes over Account Funds. 

The Bank may refuse to pay out any money from an Account until any dispute over the deposits or funds (including, without limitation, 

any dispute over what persons are authorized to represent or act for the Customer) has been resolved by a court, or by agreement of 

the parties that is documented to the Bank’s satisfaction. The Bank may file an action in interpleader with respect to any money where 

the Bank has been notified of disputed claims to that money. If any person asserts that a dispute exists, the Bank is not required to 

determine whether that dispute has merit in order to refuse to pay funds or interplead the funds. The Customer agrees to reimburse the 

Bank for any expenses, including legal and attorneys’ fees that the Bank incurs because of any dispute. 

19. Provisional Recredit. 

In connection with any dispute regarding an Account, the Bank may choose to credit the Account pending completion of the Bank’s 

investigation of the dispute. If the Bank determines that the Customer is not entitled to such credit, then, the Bank may reverse the 

provisional recredit to the Account, even if that reversal results in an overdraft.

Addendum to Account Terms l United States 

V1.1_10_04_10 

This addendum (“Addendum”) supplements the Bank’s Account Terms and applies solely to Accounts maintained in the United 

States (and to Services provided in connection with such US Accounts). Capitalized terms used in the Addendum, not otherwise 

defined, have the meanings set forth in the Account Terms. By using Accounts maintained in the United States, the Customer 

acknowledges receipt of, and agrees to be bound by the Account Terms and this Addendum, each as may be amended or 

supplemented from time to time. 

United States 

Section 3 of the Account Terms is hereby supplemented with the following provisions: 

3.4 The Bank may provide or make available upon request a receipt or similar document for certain deposits to your Account. However, the 

amount on such receipt or similar document is based solely on the deposit ticket. Credits for all deposits whether or not accompanied by 

a deposit ticket, including bulk deposits, are subject to verification. The Bank reserves the right to make adjustments to the Account for 

any errors, including any errors appearing on the deposit ticket, occurring during processing or otherwise, but the Bank has no obligation 

to do so for de minimis discrepancies. 

3.5 The Bank may handle Items drawn on a non-U.S. bank or Items payable in a foreign currency on a collection basis, not for deposit, even 

if the Bank has received the Items as part of a deposit. The Customer may not receive provisional credit for such Items, or if provisional 

credit has been given the Bank may revoke it. Credit for Items payable in a foreign currency will be in U.S. dollars at the Bank’s 

exchange rate, for the Account credited. 

3.6 The Customer must place its endorsement on the back of a check only in the area within 1.5 inches from the trailing edge of the check. 

The trailing edge of the check is defined as the left-hand edge of the check looking at it from the front. If the Customer is authorized in 

writing to endorse checks on the Bank’s behalf, the Customer agrees to comply with the endorsement standards of the Bank. 

3.7 If the Customer pre-encodes Items, the Customer should not use carrier documents (Items placed inside envelopes) in either high-speed 

forward or return cash letters. The Customer shall be solely responsible for any delays, losses or claims resulting from its use of carrier 

documents in high-speed forward or return cash letters. 

3.8 If the payor bank, drawer or payee on any Item that was deposited to Customer’s Account returns the Item to the Bank or makes a claim 

against the Bank based on an asserted unauthorized signature or endorsement or an asserted alteration, the Bank may accept that 

return or pay that claim and charge the Customer’s Account for all or any part of the amount of the Item, even if the claim is made after 

the payor bank’s return deadline. If the Customer deposits or cashes an Item drawn on the Bank and the Item or any endorsement is 

asserted to be forged, unauthorized or altered, the Bank may charge back all or any part of the amount of the Item, even if the charge 

back is made after the Bank’s midnight deadline. 

3.9 The Customer agrees that the Bank may collect any Item deposited to Customer’s Account by electronic means. The Customer will not 

deposit any substitute checks (that are not returned Items) unless the Bank expressly agrees to accept such deposit. In the event the 

Bank processes any substitute checks in the absence of such express agreement, the Customer agrees that the processing of it shall not 

be deemed to be the Bank’s agreement to accept any substitute checks for deposit and that it will be solely responsible for any loss or 

claim in connection with the deposit. 

SAMPLE 

3.10 The Bank is not liable for any deposit made through the use of the Bank’s night depositories until the Bank issues a deposit ticket or 

other receipt acknowledging the deposit. The Bank’s count of the amount deposited in a night depository will be conclusive. The 

Customer is solely responsible for any loss incurred from the disappearance, theft, or loss of any envelope, bag, or money before the 

Bank verifies the contents of the deposit. 

3.11 If the Customer deposits a remotely created check (“RCC”), as such term is defined in Section 229.2(fff) of Federal Reserve Regulation 

CC, the Customer warrants to the Bank, with respect to each RCC, that the person on whose account the RCC is drawn authorized the 

issuance of such RCC in the amount and to the payee stated on the RCC. The Customer authorizes the Bank to debit the Customer’s 

account for any claim or return based upon an unauthorized RCC and the Customer agrees to indemnify and hold the Bank harmless 

from and against any claims, liabilities, costs and expenses (including attorneys’ fees) resulting directly or indirectly from any breach of 

the foregoing warranty. All other terms governing a check will apply to an RCC. 

3.12 The Bank may issue one or more automated teller machine (“ATM”) cards (“Cards”) and personally identifiable numbers (“PINs”) to 

Customer’s employees or agents for use in initiating certain Account transactions at Bank owned ATMs. Customer agrees to use and 

cause its employees and agents to use the Cards only at ATMs owned by the Bank and Customer shall be responsible for each Card 

and liable for any transactions initiated using such Card. The Customer agrees that the types of transactions offered through the use of 

the Card may be limited by the Bank in the Bank’s sole discretion. The Bank has the right to cancel any Card at any time and for any 

reason, and will notify Customer of such cancellation. All ATM transactions are subject to verification. Any deposit transaction through 

an ATM that is not made on a business day or made after the Bank’s designated cut-off time will be processed on the Bank’s next 

business day. The Customer agrees to obtain possession and return to the Bank or destroy all cancelled Cards. If the Customer 

believes a Card or PIN has been lost or stolen, the Customer shall immediately contact the Bank’s ATM call center. 


4.5 The Bank may, in its discretion, cash Items drawn on an Account when presented by the holder. If a payee who is not a deposit 

customer of the Bank presents an Item drawn on the Account for cash, the Bank may refuse to cash the Item and may charge the payee

a fee if the Bank does cash the Item. 

4.6 Requirements for two or more signatures on Items drawn on the Account or limits on the amount for which any an Item can be drawn are 

solely for the Customer’s own internal control purposes and the Bank will not be liable for paying any Item (a) lacking the required 

number of signatures, or (b) drawn in an amount exceeding the maximum limit assigned to the signer, provided the Bank followed its 

customary procedures when paying the Items. 

4.7 The Bank offers the Customer Services reasonably designed to detect and/or deter check fraud and reduce the likelihood that a 

fraudulent, unauthorized, counterfeit or altered check will be paid. Customer agrees that if it fails to utilize any of these Services, that 

failure will constitute Customer negligence contributing to the making of an unauthorized signature and the Customer will assume the risk 

that checks or drafts presented for payment against its Account may be forged or altered and Customer will be precluded from asserting 

any claims against the Bank for paying any unauthorized, altered, counterfeit or other fraudulent Items that such Service was designed to 

detect or deter and the Bank shall not be required to recredit Customer’s Account or otherwise have any liability for paying such Items to 

the extent that the Services the Bank offers may have prevented such loss. In the event the Bank receives or is presented with Items 

which appear to be duplicates of each other, the Bank may return one or more of such Items. 

4.8 The Customer assumes all responsibility and liability for any claims or losses that the Customer or the Bank may suffer as a result of the 

Customer’s: (i) issuance of an Item in such a manner that information, marks or bands on the back of the Item obscures endorsements; 

or (ii) placement of an endorsement on the back of the Item which obscures other endorsements; and which thereby causes a delay in 

the forward and/or return processing of the Item. The Bank retains the right to refuse to accept an Item for deposit if the back of the Item 

is obscured. 

4.9 If an Item issued by the Customer is transferred or negotiated outside of the United States and is subsequently sent to the Bank for 

deposit, collection or payment in the United States, the Customer shall be deemed to make, to the Bank, the transfer and presentment 

warranties under the Uniform Commercial Code, as if such Item were negotiated or otherwise transferred in the United States. 

4.10 A stop payment Instruction from the Customer will be effective on an Item if: (i) the Bank receives the stop payment Instruction with a 

reasonable opportunity to act on such Instruction, which shall be at least one (1) full Business Day following the Business Day of the 

Bank’s confirmed receipt of the Instructions at the applicable Bank location; (ii) the Instruction is in the form required by the Bank and the 

information is complete; and (iii) the Item is not yet paid or cashed. For purposes of this Section, “Business Day” means a day on which 

the Bank is generally open for business in the jurisdiction where the Account is maintained. Stop payment Instructions on Items, unless 

otherwise provided, will be valid for one (1) year and will automatically renew up to six (6) additional years unless the Bank confirms 

receipt of the Customer’s revocation of a stop payment Instruction. The Customer may request, through the Bank’s call center or other 

authorized representative, a non-renewable stop payment, which will be effective for a 180-day period. The Bank shall not be liable for 

any Item properly paid or cashed prior to the effective date of a stop payment request. Stop payment Instructions on Items are effective 

in having the Item returned unpaid by the Bank. However, such Instructions have no effect on the rights of a holder in due course of the 

Item to make a claim against the Customer. 

Section 5 of the Account Terms is hereby supplemented with the following provision: 

5.7 Automated Clearing House (“ACH”) entries will be subject to the rules of the National Automated Clearing House Association and any 

other applicable ACH rules. The Customer agrees to be bound by such ACH rules. Credit given by the Bank to the Customer for an 

ACH entry shall be provisional until the Bank receives final settlement. If the Bank does not receive final settlement, the Bank may 

revoke the provisional credit and charge back the amount to the Account or obtain a refund from the Customer, in which case the 

originator of the credit entry shall not be deemed to have paid the Customer the amount of such entry. The Bank shall not be obligated 

to notify the Customer of the receipt of a payment order or ACH entry for credit or debit to an Account. 

SAMPLE 


7.2 The Customer must notify the Bank in writing of any unauthorized, improper, or missing endorsements within six (6) months after the 

Account Statement is mailed, transmitted or made available to the Customer. The Customer must notify the Bank in writing of any other 

errors, discrepancies or irregularities in any Account Statement, or in the Items and documents summarized or detailed in the Account 

Statement, or of the non-receipt of an expected Account Statement (“Error”), within sixty (60) calendar days after the Account 

Statement is mailed, transmitted or made available to the Customer. The Customer must provide the Bank with all information 

necessary for the Bank to investigate the alleged error, discrepancy or irregularity, and must provide all supporting affidavits and 

testimony that the Bank requests. Failure to report an Error within the time frame set forth above, shall be deemed conclusive proof 

that Customer failed to report such Error within such time frame, and that Customer failed to exercise reasonable care and promptness 

in examining the Items and Account Statements and notifying Bank of the Error. Customer agrees that such Error shall therefore be 

fully enforceable against Customer and Customer shall have no claim against Bank for same and shall be barred from bringing any 

action against the Bank that is in any way related to the Error. 

7.3 The Bank strictly prohibits the use of any Account to conduct transactions (including, without limitation, the acceptance or receipt of 

credit or other receipt of funds through an electronic funds transfer, or by check, draft or similar instrument, or the proceeds of any of 

the foregoing) that are related, directly or indirectly, to unlawful Internet gambling. The term “unlawful Internet gambling,” as used in 

this section, shall have its meaning set forth in 12 C.F.R. Section Part 233, Section 132.2(bb). The Customer agrees not to conduct 

any transactions through the Account that directly or indirectly involve or are related to unlawful Internet gambling, including, without 

limitation, the acceptance or receipt of any funds or deposits in connection therewith. 


15.4 U.S. federal regulations limit the number of pre-authorized or automatic transfers or withdrawals or telephonic/electronic instructions 

(including check, draft, debit card or similar order payable to third parties) that can be made from a savings account (including a money

market deposit account) to a total of six (6) per calendar month or statement cycle or similar period. The Customer agrees to comply at 

all times with such restrictions. Exceeding these withdrawal limits may result in the Bank converting the savings account into a noninterest 

bearing demand deposit account, with any attendant changes in pricing and account terms and conditions. Further, the Bank is 

required by U.S. law to reserve the right to require at least seven (7) days notice prior to a withdrawal from a savings account. 

15.5 The Customer, if eligible, may open an interest bearing checking account (“NOW Account”). The Bank is required by U.S. law to 

reserve the right to require at least seven (7) days notice prior to a withdrawal from a NOW Account. 

15.6 The Bank is authorized, for regulatory reporting and internal accounting purposes, to divide an Account: (i) in the case of a demand 

deposit checking Account, into a non-interest bearing demand deposit sub-account and a non-interest bearing savings sub-account; (ii) 

in the case of a NOW Account, into an interest bearing NOW sub-account and an interest bearing savings sub-account, and, in both 

cases, to transfer funds between these sub-accounts in accordance with U.S. law at no cost to the Customer. The Bank will record the 

sub-accounts and any transfers between them on the Bank’s books and records only. The sub-accounts and any transfers between 

them will not affect the Account number, balance requirement or use of the Account. 

15.7 The Bank, for its administrative purposes may designate a branch of the Bank as the branch of record of an Account which may be 

different from the branch at which the Account is opened. This designation requires no action on the part of the Customer and will not 

change the Bank’s operations, Services or customer support. 

Section 16.1 of the Account Terms is replaced with the following provision: 

16.1 With respect to Accounts maintained in the United States, the Account Terms, the Account Documentation and the rights and 

obligations of the Customer and the Bank in respect of each Account also shall be governed by and construed in accordance with the 

laws of the State of Ohio, United States (without regard to its conflict of laws rules). Unless otherwise specified in the Service Terms, 

the rights and obligations of the Customer and the Bank under any Service Terms shall be governed by and construed in accordance 

with the laws of the State of Ohio, United States (without regard to its conflict of laws rules). For purposes of clarity, unless otherwise 

specified in the Service Terms or Account Terms, for Accounts maintained in the United States and for all Services, such governing law 

shall include U.S. federal laws and regulations, Federal Reserve Bank rules and Operating Circulars, clearing house rules, automated 

clearing house rules and general commercial bank practices applicable to the type of Account and Services provided to the Customer. 

In the event the Bank is required to remit funds to any state as abandoned property, the Account may be charged for fees in remitting 

funds to that state. In addition, the Bank may charge fees in connection with its handling of dormant funds and accounts. These 

charges are not refundable. If an Account has no activity other than charges assessed or interest credited by the Bank for a period of at 

least six (6) months, the Bank is not required to provide an Account statement until the Account has additional activity. If an Account 

has no activity other than charges assessed or interest credited by the Bank for a period of at least twelve (12) months, the Customer 

may be unable to access the Account until appropriate contact is made between the Customer and the Bank. 

Section 17 of the Account Terms is hereby supplemented with the following provision: 

17.15 If the Customer is a bank or financial institution not organized under the laws of the United States, it shall not permit its customers to 

conduct banking transactions in the United States through the Customer’s Account, and shall not provide its customers with check 

stock, drafts, wire transfer capabilities or any other means by which its customers are able to draw on the Customer’s Account. These 

types of arrangements are typically called “payable through accounts” and are prohibited under these Account Terms. The Customer 

acknowledges that the sale of U.S. dollar checks or drafts to third parties is explicitly prohibited without the express written approval of 

the Bank. 

Availability Policy - FOR ACCOUNTS MAINTAINED IN THE U.S. 

SAMPLE 

The Bank’s policy is to make funds available to the Customer on the same, next or second business day after the day of deposit depending on 

the type of deposit and when the deposit is made as described below. If the Customer will need the funds from a deposit immediately, the 

Customer should ask the Bank when the funds will be available. 

A. Determining the Day of a Deposit. If a deposit is made to an account on a business day before the Bank’s cutoff time established for 

that location (which will be no earlier than 2 p.m. local time), then the Bank will consider that day to be the day of deposit. However, if a 

deposit is made after the cutoff time or on a day that is not a business day, then the Bank will consider the deposit to have been made no 

later than the next business day. For determining the availability of deposits, every day is a business day, except Saturdays, Sundays, 

and federal holidays. Availability with respect to any deposit will be determined by the location of the banking center or other facility 

where the deposit was received. For deposits made at the Bank’s automated teller machines (ATMs) the cutoff time is 11 p.m. Eastern 

Time unless otherwise noted on the ATM screen. 

B. Same Day Availability. Funds from the following deposits made at a banking center or at an ATM that do not require deposit envelopes 

will be available on the business day the Bank determines the deposit is made: 

• Cash; 

• Wire transfers; and 

• Electronic direct deposits to an account. 

C. Next Day Availability. Funds from the following deposits are available on the first business day after the business day the Bank 

determines the deposit is made:

• U.S. Treasury checks that are payable to the Customer; 

• Checks drawn on a Bank affiliate that holds the applicable account (excluding a Controlled Disbursement site); and 

• At least, the first $100 from a day’s total deposits. 

If the deposit is made in person to a Bank employee, funds from the following deposits are also available on the first business day after 

the business day the Bank determines the deposit is made: 

• State and local government checks that are payable to the Customer, if a special deposit slip, available upon request at any Bank 

banking center is used; 

• Cashier’s, certified, and teller’s checks that are payable to the Customer, if a special deposit slip, available upon request at any Bank 

banking center, is used; and 

• Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, if these items are payable to the 

Customer. 

If a special deposit slip is not used, availability of funds from these deposits will follow the schedule identified in the Availability of Other 

Check Deposits section below. 

D. Availability of Other Check Deposits. Generally, funds from all other deposits of checks drawn on banks (as defined in Federal 

Reserve Regulation CC) will be available no later than the second business day after the day of deposit. 

Checks that require special handling may receive delayed availability. 

The amount of funds available to the Customer will be reduced by the amount of any deposited check that is returned unpaid. If the 

Bank reprocesses the check, the funds will become available no later than the second business day after the business day in which the 

check is reprocessed. 

E. Longer Delays May Apply. In some cases the Bank may not make all of the funds that are deposited by check available. Depending 

on the type of check deposited, funds may not be available as set forth above. However, the first $100 of the aggregate deposit will be 

available on the first business day after the day of deposit. 

If the Bank is not going to make all of the funds from a deposit available at the times shown above, it will notify the Customer and specify 

when the funds will be available. If a deposit is not made directly to a Bank employee, or if the Bank decides to take this action after the 

Customer has left the premises, the Bank will mail or otherwise send the notice to the Customer by the business day after the day of 

deposit. 

Funds deposited by check may be delayed for a longer period under the following circumstances: 

• The Bank believes a deposited check will not be paid; 

• Deposited checks for all of the Customer’s accounts total more than $5,000 in any one day; 

• The Customer redeposited a check that has been returned unpaid; 

• The Customer has overdrawn one or more of its accounts repeatedly in the last six months; or 

• There is an emergency, such as failure of communications or computer equipment. 

SAMPLE 

In such circumstances, funds will generally be available no later than the seventh business day after the day of deposit. Inclement weather or 

transportation problems may lead to additional delays under certain availability schedules. Customer may have specific availability schedules 

related to a banking service. 

F. Special Rules for New Accounts. If the account is a new account, the following special rules may apply during the first thirty days the 

account is open: 

• Funds from deposits of the first $5,000 of that day’s total deposits of cashier’s, certified, teller’s, traveler’s and federal, state and 

local government checks will be available on the first business day after the day of deposit if the deposit meets certain conditions. 

For example, the checks must be payable to the Customer. The excess over $5,000 will be available no later than the ninth 

business day after the day of deposit. If the deposit of checks (other than U.S. Treasury checks) is not made in person to one of the 

Bank’s employees, the first $5,000 may not be made available until the second business day after the day of deposit; and 

• Funds from all other check deposits will be made available no later than the fifteen business day after the day of deposit. 

This Availability Policy and availability schedules may be changed without notice. 

© 2010 JPMorgan Chase & Co. All rights reserved. JPMorgan Chase Bank, N.A. Member FDIC.

Account Terms Acceptance Letter 

V1.6_09_27_10 

Customer Name: 

Tax Identification Number: 

Dear Valued Customer: 

Thank you for choosing JPMorgan Chase Bank, National Association or any of its affiliates or subsidiaries for your cash 

management banking services. 

Enclosed you will find our standard Account Terms and United States Addendum to Account Terms that outlines our 

customary banking practices and provisions in connection with your accounts and services. 

Your signature below represents your receipt and acceptance of the Account Terms and United States Addendum to Account 

Terms, and any service terms applicable to any services that your organization may use, as they may be amended or 

supplemented. 

Please sign and return this form to your JPMorgan Chase Implementation Consultant. 

We appreciate your business and look forward to servicing your future banking needs. 

Printed Name 

Title 

Signature 

Date 

E-Mail Address 

Phone Number 

SAMPLE 

Printed Name 


Signature 

Date 


Phone Number

Certificate Regarding Accounts 

V 1.5_09_27_10 

Instructions: Complete all relevant spaces with the requested information as applicable to the type of organization. Obtain signature of 

certifying signer(s) at the conclusion of the Certificate. 

HEADING 

Customer Name: 

(“Customer”) 

Tax Identification Number: 

(“Client Entity”) 

Business Name: 

(“Business”) 

Jurisdiction of Organization: 

(Applicable only for Sole Proprietorship or business operating under an assumed name) 

Type of Organization 

(Check One) 

Corporation Sole Proprietorship Trust Unincorporated Association 

Limited Liability Company 

Partnership (including Limited Liability Partnership) 

Business Trust (under Delaware or Massachusetts law only) 

SAMPLE 

Joint Venture 

Governmental Entity (specify type):__________________________________ 

Other:_________________________________________________________ 

A. DESIGNATION OF DEPOSITORY. This Certificate Regarding Accounts (this “Certificate”) is provided to any bank subsidiary of J.P. 

Morgan Chase & Co. (collectively, “Bank”) with respect to any and all deposit accounts, related products and all Treasury Services 

products or services, that Customer currently has or may open in the future with Bank (collectively, the “Accounts”). 

B. CERTIFICATION (as applicable to Type of Organization) 

1. Corporation, Limited Liability Company, Partnership/LLP, Unincorporated Association, Business Trust. I am an officer, 

member, manager, director, or general partner (or person authorized to represent the member, manager, director or general 

partner), as applicable, of Customer. I certify to Bank that the governing body of Customer has adopted resolutions authorizing all 

actions and agreements described in this Certificate. Those resolutions were adopted in accordance with all requirements of law 

and of Customer’s organizational documents, have been entered in the regular minute books of Customer, have not been 

rescinded, or modified, and are now in full force and effect. 

2. Governmental Entity. I am either the custodian of the official records of Customer (the “Certifying Official"), or the public official 

authorized by law to establish and administer the financial accounts of Customer (the "Financial Officer"), and authorized to take 

all actions described in this Certificate. 

Bank has been designated a depository for funds of Customer in the manner required by applicable law. I certify to Bank that the 

governing body of Customer, if any, has adopted resolutions authorizing all actions and agreements described in this Certificate. 

Those resolutions were adopted in accordance with all requirements of law and of Customer’s organizing statutes, charter, by-laws, 

ordinances, or other applicable laws and documents, have been entered in the regular minute books of Customer, and are now in 

full force and effect. 

3. Trust. (Other than a business trust) I am (we are) all of the duly appointed and acting trustee(s) of the trust. I (we) certify to Bank 

that Customer’s trust agreement and all other governing documents authorize the trustees to take all actions and enter into all 

agreements described in this Certificate, and that such authorization is in accordance with all requirements of law now in full force 

and effect. 

4. Joint Venture. We are all the joint venturers of Customer. We certify to Bank that the joint venturers of Customer have authorized 

all actions and agreements described in this Certificate, and that such authorization is now in full force and effect. 

5. Sole Proprietor. I am the Customer, and I individually am the sole owner of the Business. The Business is not a corporation, 

partnership, limited liability company, or any other form of business entity. This Certificate constitutes a durable power of attorney 

appointing agents, each acting singly, to take any and all action authorized under this Certificate or any other document described in 

this Certificate. This power of attorney will survive my incompetence, incapacity, or disability. "Attorney-in-Fact" means any of the 

following listed persons, acting singly unless otherwise provided in this Certificate: 

C. AUTHORIZATIONS (applicable to all Types of Organizations)

6. Account Opening. 

Each Account Manager is authorized to open one or more Accounts from time to time with Bank. “Account Manager” means each 

person holding an officer title with Customer. If Customer is a limited liability company or partnership, “Account Manager” means 

any member, manager, general partner, or trustee (or authorized official of a member, manager, general partner, or trustee) of 

Customer. However, if any names or titles are listed in the following line, “Account Manager” means only the following 

listed persons: . If Customer is a sole proprietor, 

“Account Manager” means only Customer individually (i.e., the owner of the Business) or an Attorney-in-Fact, if designated by 

Customer. If Customer is a trust (other than a business trust), “Account Manager” means only each individual trustee and each 

person authorized to act on behalf of any entity trustee of Customer. If Customer is a joint venture, “Account Manager” means only 

each joint venturer and each person authorized to act on behalf of the joint venture. If Customer is a governmental entity whose 

financial affairs are directed by a Financial Officer, “Account Manager” means only the Financial Officer. If Customer is a 

governmental entity whose financial affairs are directed by a governmental body, “Account Manager” means only the Certifying 

Official. Opening any Account will constitute Customer’s agreement to be bound by all of Bank's account terms, conditions, 

documents, and agreements (as they may be amended from time to time) executed or delivered in connection with the Account. 

7. Banking Services. 

“Authorized Person” means any Account Manager as designated above in Section C6. An Authorized Person may perform any 

or all of the functions listed below. Subject to any written agreement (and other forms applicable to the products and services), 

between Customer and Bank, any one Authorized Person is authorized to: (1) sign checks, drafts, notes, acceptances and other 

instruments (collectively referred to as “Items”); (2) take any action and/or give in instructions in writing, verbally, electronically or 

otherwise, (“Instructions”) as provided in the account terms, United States addendum to account terms or other agreement 

between Customer and Bank; and (3) identify, implement and contract with Bank for cash management product and services 

relating to an Account and/or other general banking services for the benefit of Customer, including without limitation electronic funds 

transfer services, electronic information services, automated clearinghouse services, lockbox services, fraud prevention services, 

and automated sweep investment services. Use of any such service will constitute Customer’s agreement to Bank's standard 

agreements applicable to the products or services requested. 

8. Changes to Authorized Persons. 

The Secretary, any Assistant Secretary, or any Account Manager may instruct Bank to add, delete or otherwise make changes to 

Authorized Persons by a written notice to Bank (“Change Notice”). The Change Notice should identify all changes to Authorized 

Persons, including persons added or deleted, certify the name, title, and signature of each additional Authorized Person, and set 

forth any limitations to the authority of Authorized Persons. 

9. Deposits. 

Bank is authorized to accept for deposit, credit, collection, or any other purpose, items or electronic deposits payable to (1) 

Customer by any trade name or style used by Customer, or (2) any owner, shareholder, partner, member, manager, trustee, or 

venturer of Customer (“Owner”), or (3) more than one Owner, either jointly or in the alternative. All Items may be deposited to any 

Account with or without endorsement. 

10. Continued Effectiveness. 

This Certificate will continue in full force and effect until Bank actually receives written notice from Customer revoking or modifying 

this certificate and Bank has had a reasonable opportunity to act on it. Bank may conclusively presume that this Certificate is in 

effect and that the persons identified from time to time as Account Managers or Authorized Persons by this Certificate, any signature 

card, or any Change Notice have been duly elected or appointed and continue to hold such positions. Customer releases Bank 

from any liability and will indemnify Bank against any loss, liability, or expense arising from Bank’s reliance on this Certificate or any 

other certification or instructions provided by the Secretary, any Assistant Secretary, or any Account Manager. 

SAMPLE 

D. ADDITIONAL PROVISIONS (Only applicable to Trust or Governmental Entity) 

11. Delegation of Authority for Trusts. 

If Customer is a trust (other than a business trust), each of the trustees expressly represents that the delegation of authority 

provided in this Certificate is for the ministerial act of executing instruments payable by, providing instructions to, or making deposits 

in Bank with respect to trust assets in an Account, which are authorized by the trust instrument. Bank is entitled to rely on this 

representation in conducting any business relating to any Account of the trust. 

12. Death, Resignation, or Inability of Trustee to Act. 

If Customer is a trust (other than a business trust) and any trustee dies, resigns, declines to serve, or is unable to act as trustee, 

each surviving trustee or successor trustee is obligated to notify Bank and to provide Bank with a new Certificate authorizing Bank to 

act on the order or instruction of any newly appointed trustee. 

13. Authority of Governmental Entity. 

If Customer is a governmental entity and Bank at any time determines that Customer is not authorized, or may not be authorized, 

under applicable law or its organizational documents to open any Account or to engage in any transaction or purchase any services 

relating to the Accounts, Bank may demand conclusive evidence of Customer's authority. Notwithstanding any agreement to the 

contrary, if Customer fails to provide conclusive evidence of its authority upon demand, Bank may immediately and without prior 

notice terminate any Account or service provided to Customer, and Bank will not be liable to Customer for any damages in 

connection with that termination. 

E. CERTIFYING SIGNATURES 

1. Applicable to all Types of Organizations EXCEPT Governmental Entity

X 

Certifying Signature 

X 

Certifying Signature 

Print Name: 

Print Name: 

Capacity/Title 

Capacity/Title 



Phone Number 

Phone Number 

Executed this _________________day of ______________________________, ___________. 

SAMPLE

2. Applicable ONLY to Governmental Entity 

a) Certifying signer is: Financial Officer Certifying Official 

X 

Official’s Signature 

Printed Name 



Phone Number 

For a Governmental Entity certified by a Financial Officer, the following must also be completed by an official other than the 

Financial Officer: 

I certify that the Financial Officer named above holds the office indicated in the foregoing Certificate, and is authorized by law to 

establish and administer the Accounts of Customer and to take all actions and enter into all agreements described in the foregoing 

Certificate. I further certify that the signature set forth above is the Financial Officer’s signature. 

X 

Official’s Signature 

Printed Name 



Phone Number 

Executed this _________________day of ______________________________, ___________. 

SAMPLE

CRA Instruction Sheet 

HEADING 

1. Jurisdiction of Organization – This is the state, territory, or country where the entity was organized. 

2. Tax Identification Number – Used by Internal Revenue Service (IRS) in the administration of tax laws. 

3. Business Trust – A “business trust” as used in this Certificate (CRA) is a legal trust set up for the purpose of business in Delaware 

and Massachusetts. The purpose of a business trust is to operate a profit venture for the beneficiaries of the trust. 

4. Governmental Entity (specify type) – Examples of governmental entities include municipality, county, state, government agency, 

school board, etc. 

A. DESIGNATION OF DEPOSITORY 

This is a statement regarding the purpose of this Certificate (CRA). 

B. CERTIFICATION – By Entity Type 

1. Corporation, Limited Liability Company, Partnership/LLP, Unincorporated Association, or Business Trust – The appropriate 

officer must certify that the governing body of the Customer has adopted resolutions authorizing the actions and agreements 

described in this Certificate (CRA). After reading this paragraph, proceed to Section C. 

2. Governmental Entity – There are 2 types of officials who may make the certifications in this Certificate (CRA) for a governmental 

entity, either a Certifying Official, or a Financial Officer. 

• Certifying Official – This is a person who has been elected/appointed/charged with the responsibility for the official records of the 

governmental entity that they represent, and holds an office comparable to a corporate secretary, e.g., for example, the Town or 

County Clerk, the Secretary of the School Board 

• Financial Officer - This is used for persons holding a specific governmental office which has been authorized by law to establish 

and administer Accounts for the governmental entity they represent, e.g., State Treasurer. 

After reading this paragraph, proceed to Section C. 

3. Trust – (Other than a business trust) - The trustee or trustees must certify that all actions and agreements described in this 

Certificate (CRA) are in accordance with all requirements of law and of the Customer’s trust agreement and all other governing 

documents. After reading this paragraph, proceed to Section C. 

4. Joint Venture – Each joint venturer must certify that all actions and agreements described in this Certificate (CRA) are authorized. 

After reading this paragraph, proceed to Section C. 

5. Sole Proprietor – This section indicates who may take the actions described in this Certificate on behalf of the owner of the sole 

proprietorship. If any person will be authorized to act on the behalf of the sole proprietor, they must be designated in this Certificate 

(CRA). This person will be known as “Attorney-in-Fact”. A sole proprietor is not required to have an “Attorney-In-Fact”. After 

reading and filling in this paragraph, if applicable, proceed to Section C. 

C. AUTHORIZATIONS (Applicable to all Types of Organizations) 

SAMPLE 

6. Account Opening – This section identifies those persons (Account Managers) who will have authority to open Accounts for the 

entity described in this Certificate (CRA). 

Entity Type 

Corporation, Unincorporated Association 

LLC, Partnership, LLP 

Sole Proprietor 

Trust (Other than a Business Trust) 

Joint Venture 

If this section is left blank, the following persons are “Account Managers” 

authorized to open accounts 

Any person holding an officer title with Customer 

Any member, manager, general partner, or trustee, as applicable, of Customer 

The Customer individually (i.e., the owner of the Business) or an Attorney-in-Fact, if 

designated by the owner of the business 

Each individual trustee or as specified in the trust agreement 

Each joint venturer 

Governmental Entity • If Customer is a governmental entity whose financial affairs are directed by a Financial 

Officer, “Account Manager” means only the Financial Officer. 

• If Customer is a governmental entity whose financial affairs are directed by a 

governmental body, “Account Manager” means only the Certifying Official

CRA Instructions/Explanations 

Account Opening, continued: 

If paragraph 6 is filled in with one or more specific position titles/functions, such as “vice president or controller”, then only those 

persons holding that title and/or function will be allowed to open Accounts for Customer. 

If paragraph 6 is filled in with names of specific individuals, then only those individuals will be allowed to open Accounts for 

Customer. 

7. Banking Services – Describes persons who are authorized to perform banking transactions for Customer and what those 

transactions may entail. “Authorized Persons”/”Account Managers” are designated in section C6 of this Certificate (CRA). 

8. Changes to Authorized Persons – Describes how changes, additions, or deletions to those who are named as Authorized 

Persons may be made. 

9. Deposits – Describes what Customer is authorizing Bank to do with deposits made into its Accounts. 

10. Continued Effectiveness – Describes the terms under which this Certificate (CRA) will remain in full force and effect. 

D. ADDITIONAL PROVISIONS (Only applicable to Trust or Governmental Entity) 

11. Delegation of Authority for Trusts (Other than Business Trust) – Declaration of the trustees as to the purpose of the delegation 

of authority described in this Certificate (CRA). 

12. Death, Resignation or Inability of Trustee to Act – Describes the obligations of the trustees in the event that any trustee is 

unwilling or unable to perform his or her role. 

13. Authority of Governmental Entity – Describes what actions Bank may take should Bank determine that Customer is not or may 

not be authorized to open Accounts or transact banking business. 

E. CERTIFYING SIGNATURES (Who can sign the Certificate (CRA)) 

Entity Type 

Corporation, Limited Liability Company, Unincorporated 

Association, Business Trust 

Partnership, Limited Liability Partnership 

Trust (Other than Business Trust) 

Joint Venture 

Governmental Entity represented by a Financial Officer 

authorized by law as described in these instructions: page 1, 

section B2. 

Certifying Signature must be: 

The CEO, CFO, COO, President, Vice President, Treasurer 

Secretary or Assistant Secretary of the organization or other 

equivalent officer 

Only 1 signature is required, or as specified in the customer’s 

organizational documents 

Managing Partner or each Partner, if a Managing Partner has not 

been designated 

SAMPLE 

All trustee(s) or as specified in the trust agreement 

Joint Venturer(s) 

Each Joint Venturer should sign 

Financial Officer accompanied by a second official signer who 

certifies that the person signing holds the office indicated 

Governmental Entity represented by a “Certifying Official” as 

described in these instructions: page 1, section B2. 

Sole Proprietorship 

Certifying Official 

Owner

Certificate of Incumbency | JPMorgan Chase Bank, N.A. 

Check if below signatures are applicable to a Lender or Secured Party of a Multi-Party Blocked Agreement 

V1.2_02_19_10 

The undersigned certifies that: I am an authorized official of (Lender/Secured Party), and that the persons named below are presently holding 

the offices set forth opposite their respective signatures below; and each such signature is his or her genuine signature; and each are authorized to 

act on behalf of the Lender/Secured Party. 

The undersigned certifies that: I am an authorized official of , duly organized and existing under the laws of the State of , (“Organization”); 

that the information presented below is correct and the persons named below are presently holding the offices set forth opposite their respective 

signatures below; and each such signature is his or her genuine signature: 

Type or Print Name Signatures (Please sign inside the box) Phone and Fax 

(Name) 

(Title) 

(Phone) 

(Fax) 


(Name) 



(Name) 



(Name) 



(Name) 



(Phone) 

(Fax) 

(Phone) 

(Fax) 

(Phone) 

(Fax) 

(Phone) 

(Fax) 

SAMPLE 

In Witness Whereof, I have hereunto subscribed my name and affixed the seal of the Organization, if applicable, this 

Day of 20 . 

By: 

Signature 

Print Name 


By: 

Signature 

Print Name 

Title

Business Signature Card 

CHECK 

ONE: 

Signatures for New Account(s) 

Additional Signatures for 

Account(s) 

Replace All Signatures on 

Account(s) 

For BANK USE ONLY This Signature Card is for a New Account This is the first DDA for this client 

Client Name/Account Holder: 

(For Sole Proprietor or Disregarded Entity, 

indicate the name of the owner.) 

Account Title: 

Card 

V1.8_05_16_11 

of 

Address: 

City, State, Zip 

Account 

Number(s): 

Telephone Number: 

Tax ID Number: 

(For Sole Proprietor or 

Disregarded Entity, indicate TIN 

of owner.) 

INSTRUCTIONS: Use BLACK OR BLUE ink. Place the Manual or Facsimile signature within the box boundaries only. Do Not overlap signatures. Indicate if the 

signature is Manual or a Facsimile in the “PRINT NAME” box. When providing a Facsimile Signature, provide a Manual Signature too. For your security, cross out all 

unused signature boxes before signing the signature card below. 

Manual 

Facsimile 

Manual 

Facsimile 

Manual 

Facsimile 

Manual 

Facsimile 

old the BanTITLE TITLE SIGNATURE 

E-MAIL ADDRESS 

PHONE NUMBER 

PRINT NAME TITLE SIGNATURE 


PHONE NUMBER 



PHONE NUMBER 



SAMPLE 

PHONE NUMBER 

The undersigned, an authorized representative of the Account Holder, certifies that he/she has reviewed the information contained in this 

Signature Card, the Certificate Regarding Accounts, account authorization documents, and/or organizational documents of the Account Holder 

(“Authorized Documents”), and finds the information in this Signature Card accurate on this date and in accordance with the Authorization 

Documents. The Account Holder acknowledges receipt of, and agrees to be bound by, the terms and conditions governing the operation of 

accounts and services provided by JPMorgan Chase Bank, National Association, (“the Bank”), including the Account Terms and Service Terms, 

as may be amended or supplemented from time to time. 

The undersigned is authorized to certify the names, titles, and signatures of authorized signers named in this Signature Card on this/these 

account(s) pursuant to the Authorization Documents. The undersigned certifies that the (No.) signatures presented on these pages are 

the signatures of persons authorized to sign and otherwise act on behalf of the Account Holder with respect to its account(s), banking 

transactions or services. The Bank is entitled to rely on the authority of the named person(s) until the Bank receives written revocation of such 

authority. No notice of revocation will be effective until the Bank has a reasonable opportunity to act on it. 

Authorized Signature: Title: Date: 

Authorized Signature: Title: Date: 

INTERNAL USE ONLY 

THE ABOVE INFORMATION AND SIGNATURE(S) WERE VERIFIED BY: 

Print Name: Initials: Dept. No./Br. No.: 

Completion Date: 

Entity Type:Select Entity Type

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Account Title: Tax ID Number: Card of 

Account 

Number(s): 

Telephone Number: Date: 6/9/2011 

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Not-On-Us Check Cashing Indemnification Agreement 

V1.5_082010 

THIS AGREEMENT is by and between the undersigned [+CLIENT.NAME+]_______________________________ (“Customer”) and 

JPMorgan Chase Bank, N.A. on behalf of itself and any subsidiary of JPMORGAN CHASE & CO. (the “Bank”), which may be providing the 

Service. Customer wishes to refer certain persons (“Named Payees”) (who may or may not be customers of the Bank), to the Bank for the 

purpose of having the Bank cash checks (the “Checks”) drawn on Customer’s accounts not with the Bank (the “Service”). The Bank is willing 

to provide the Service subject to the terms and conditions of this Agreement. In consideration of the mutual covenants contained herein, the 

Bank and Customer hereby agree as follows: 

1. Procedures. 

(a) 

(b) 

(c) 

(d) 

(e) 

(f) 

In order to avail themselves of the Service, Named Payees must present a Check and identification satisfactory to the Bank in 

accordance with the Bank’s policies and procedures for cashing checks drawn on an account with the Bank and payable to noncustomers 

as may be in effect from time to time (the “Policies”); however, the Bank makes no warranty that the individual cashing 

the check is the intended Named Payee of the Customer. 

Customer hereby acknowledges that the Bank has the unrestricted right to refuse to cash any Check drawn or purported to be 

drawn by Customer and to cash any Check, which purports to contain the correct routing/transit number and account number as 

documented in the attachment. The Bank agrees not to cash any Check for an amount in excess of the maximum check amount set 

by the Customer as documented in the attachment. 

Customer agrees to pay the Bank’s charges and fees applicable from time to time for the Service or as otherwise agreed between 

the Customer and the Bank. Customer understands and agrees that the Bank may charge the person presenting the check for 

payment a check cashing fee at the time of encashment. 

Customer agrees that this Service may be provided only at specific location(s) as the Bank in its sole discretion may allow. 

Customer will instruct the Named Payees to present the Checks only to such locations for encashment. 

Customer agrees that it will keep this Agreement confidential and will not provide a Named Payee, any other branch location or any 

other third party with a copy of this Agreement. 

Customer understands that it must otherwise maintain a banking relationship with the Bank in order to continue to receive this 

Service. If the banking relationship is terminated by either party, the Bank will have the right to terminate this Service immediately 

upon notice to the Customer. 

2. Indemnification. Customer agrees to unconditionally release, indemnify, defend and hold the Bank harmless against any and all 

liability, loss, damage, or expense of any kind which the Bank may suffer or incur in connection with providing the Service; including 

without limitation, any claim related to (i) unauthorized or forged endorsement of the Named Payees, (ii) unauthorized or forged maker’s 

signature, (iii) altered or counterfeit checks, (iv) Bank’s cashing of Checks not drawn by Customer but containing the correct 

routing/transit number and account number, or (v) checks which are returned by the drawee bank as account closed, insufficient funds, 

payment stopped, or for any other reason whatsoever. 

3. Credit. As part of this Agreement, the Customer agrees that the Bank has the right as part of the decisioning process to inquire and 

obtain credit ratings and/or credit bureau reports of the Customer. 

4. Returned Check. If the drawee bank does not make payment to the Bank on any Check for any reason or makes a claim against Bank 

for return of any payment on the Check, then the Bank will debit any of Customer’s depository accounts or credit lines then in existence 

with Bank even if such debit causes an overdraft in Customer’s depository account. If there are insufficient funds in Customer’s 

depository account(s), Customer will pay to the Bank the full amount of the Check together with interest at the Bank’s current prime rate 

accrued from the day the Check was paid within 10 business days from receipt of written demand from Bank. 

5. Term. This Agreement may be terminated at any time by either party hereto by giving not less than thirty days’ prior written notice of 

such termination to the other party. Notwithstanding the foregoing, the Bank may terminate this Agreement with such termination to be 

effective immediately upon written notice to Customer if (i) Customer fails to comply with the terms of the Agreement, or (ii) the Bank 

reasonably believes it to be at risk of loss. No termination of this Agreement shall affect the rights or obligations of either party which 

may have arisen or accrued prior to such termination or expiration of either party. 


6. Applicable Law. This agreement shall be governed by and interpreted in accordance with the laws of the State where the Bank 

maintains its principal office and applicable federal laws. 

7. Entire Agreement. This Agreement supersedes and acts to rescind all prior agreements between the parties with regard to the subject 

matter of the Agreement. Except as specifically provided herein, this Agreement can be amended by the Bank upon 30 days’ prior 

written notice to the Customer. Notwithstanding the foregoing, Bank may expand the Locations for this service without prior notice to the 

Customer. 

8. Severability. If any provision of this Agreement is held to be invalid, illegal or unenforceable, such provision shall be deleted and the 

remainder of this Agreement shall be enforced as if such invalid, illegal, or unenforceable provision had never been contained herein. 

Page 1 of 3

9. Parties Bound. This Agreement is a legal, valid, and binding obligation of Customer and the Bank. This Agreement shall be binding 

upon and inure to the benefit of the parties hereto and their respective heirs, successors, and assigns; however, this Agreement may not 

be assigned by Customer without prior written consent of the Bank. 

10. Notice. Except as otherwise provided herein, all notices required or permitted under this Agreement shall be deemed to have been 

given when delivered in hand or when sent mail by regular United States mail, or registered or certified mail, return receipt requested, 

postage prepaid. 

11. Non Waiver. No delay or omission by either party to exercise any right or power hereunder shall impair such right or power or be 

construed to be a waiver thereof. A waiver by either party of any covenant to be performed by the other or any breach by the other shall 

not be construed to be a waiver of any succeeding breach or of any other covenant. 

Executed as of __________________________________________ by the duly authorized representatives of the parties hereto. 

The Bank 

By: 

Name: 


Customer: 

By: 

Name: 




Attachment to Not-On-Us Check Cashing Indemnification Agreement 

Customer agrees that this Service is only being provided for the following Customer account(s) not with the Bank. 

Customer also agrees that this Service is only being provided up to the designated maximum check amount(s). 

Bank Name Routing/Transit Number Account Number 

Max Check Amount 

($2500 Max) 



Welcome to JPMorgan Chase Bank, National Association (“J.P. Morgan”, “Chase”, or “Bank”). We are 

pleased that you have decided to maintain a banking relationship with us. This Consolidated Service 

Terms booklet (“Booklet”) contains the terms and conditions for certain cash management services 

(“Service Terms”) J.P. Morgan may provide to you. By executing the Account Terms Acceptance Letter, 

Certificate Regarding Accounts, Business Signature Card, service implementation form or similar 

document, or by using or continuing to use any of the services referenced herein after receipt of this 

Booklet, you agree that the Service Terms included in this Booklet, in addition to the Account Terms 

and such supplements, amendments, notices and additional service terms provided to you from time to 

time will govern your existing and future deposit accounts maintained with us, in addition to those 

services that the Bank provides to you, as applicable. 

Part I includes Treasury Services Service Terms applicable to all Commercial Banking customers. Part 

II includes Service Terms for additional services that the Bank may provide to you. Part III includes 

Service Terms applicable for Liquidity Solution services which the Bank may provide to you. All Service 

Terms are subject to the Bank’s Account Terms. Any modifications to this Booklet, including but not 

limited to any changes, amendments, deletions, and/or additions, will not be binding upon the Bank 

unless such modifications are acknowledged and agreed to it writing by an officer of JPMorgan Chase. 

We look forward to serving your business needs and thank you again for choosing Chase. 

I. SERVICES FOR COMMERCIAL BANKING CUSTOMERS 

A. ACH Origination .....................................................................................................................3 

B. ACH Debit Block and Transaction Review .............................................................................5 

C. USD Funds Transfer ..............................................................................................................6 

D. USD Funds Transfer By Check ..............................................................................................6 

E. Lockbox .................................................................................................................................7 

F. Coin & Currency ....................................................................................................................8 

G. Positive Pay, Reverse Positive Pay & Payee Verification ......................................................9 

H. Controlled Disbursement .....................................................................................................10 

I. Image Cash Letter ...............................................................................................................11 

J. Check Printing .....................................................................................................................12 

K. Telephone Tax Payment ......................................................................................................13 

L. Client Access .......................................................................................................................14 

II. 

ADDITIONAL SERVICES FOR COMMERCIAL BANKING CUSTOMERS 

A. Multicurrency Deposits & Collections ...................................................................................18 

B. International Cash Letter ......................................................................................................20 

C. Foreign Exchange Payment .................................................................................................22 

III. 

LIQUIDITY SOLUTION SERVICES FOR COMMERCIAL BANKING CUSTOMERS 

A. US Cash Concentration Service Terms (Single Entity) ........................................................23 

B. US Cash Concentration Service Terms (Multi Entity) ......................................................... 24 

C. Cross-Border (U.S./U.K.) Concentration Service Terms (Single Entity) ..............................25 

D. Cross-Border (U.S./U.K.) Concentration Service Terms (Multi Entity) ................................26 

©2011 JPMorgan Chase & Co. All Rights Reserved. JPMorgan Chase Bank, N.A. Member FDIC. 

Eligibility for particular products and services is subject to final determination by J.P. Morgan and/or its affiliates. 


The services described herein (each a “Service”) are subject to the Bank’s Account Terms (as may be amended from time to 

time), which are hereby incorporated by reference into each Service Terms. By using any of the Services described 

hereunder, the Customer acknowledges that it has received and agreed to the Account Terms, as supplemented by these 

Service Terms. Capitalized terms in the Service Terms, unless otherwise defined herein, shall have the meanings set forth in 

the Account Terms 

Part I: Service Terms – Consolidated Service Terms Booklet 

A. ACH Origination 

The Automated Clearing House (ACH) is a batch processing payment system that U.S. banks use to exchange and settle credit and debit 

transactions on behalf of their clients or themselves. The origination of ACH Entries and the transmission and issuance of related transactions 

and information will be pursuant to these terms and the Operating Rules and Guidelines (collectively the “Rules”) of the National Automated 

Clearing House Association. Capitalized terms used in this subpart, unless otherwise defined in this subpart shall have the same meanings as 

set forth in the Rules. The Customer and the Bank agree to comply with and be bound by the Rules as in effect from time to time, including 

without limitation, the provision making payment of a Credit Entry by an RDFI to the Receiver provisional until receipt by the RDFI of final 

settlement for such Credit Entry and the Customer acknowledges that it has received notice of such rule and of the fact that if such settlement 

is not received, the RDFI will be entitled to a refund from the Receiver of the amount credited and the Customer will not be deemed to have 

paid the Receiver the amount of such Credit Entry. 

1. Service. The Bank provides ACH origination Services that will enable the Customer to do one or more of the following: (1) originate 

ACH Debit Entries; (2) originate ACH Credit Entries; and (3) issue paper drafts in lieu of ACH Debit Entries (“Drafts”). In conjunction 

with originating Entries or Drafts, the Customer may instruct the Bank to issue or transmit pre-notifications, requests for reversal or 

return, notifications of change or other information pertaining to the Entries. Origination of ACH credit Entries and origination of ACH 

Debit Entries (or Drafts) are two separate Services and approval or setup of one ACH Service does not automatically create the ability 

to utilize the other. 

It is the Customer’s responsibility to provide Entries and instructions to the Bank with all the necessary information to complete the 

Customer’s requested transactions. The Bank may reject or delay processing transactions or information if instructions are not 

complete or are inaccurate, contain an inactive Company ID or otherwise do not meet the criteria the Bank specifies for acceptance. 

All instructions to the Bank must be received by the Bank before the Bank’s established cutoff time in order for processing to 

commence on that ACH processing day. Any instruction that is incomplete or that the Bank finishes receiving after the relevant cutoff 

time will be processed by the Bank on the next day the Bank processes ACH transactions. All transactions are subject to acceptance 

by the Bank. 

The Bank will notify the Customer of any transactions or other transmissions that are rejected or returned. If the Customer wants the 

Bank to reprocess those transactions or transmissions, the Customer must correct them and resubmit them. The Customer agrees to 

furnish the Bank with copies of any authorizations or notifications, if requested. 

2. Security and Data Protection Procedures; Examination. If the Bank follows agreed upon security procedures, the Bank may 

process and transmit transactions or information in the Customer’s name. Unless the Customer and the Bank otherwise agree, 

transmissions to the Bank will be authenticated and/or encrypted using commercially reasonable security technologies meeting 

standards acceptable to the Bank. If the Customer uses a security procedure other than as described in the preceding sentence, the 

Customer acknowledges that the Customer chose such other security procedure after the Bank offered, and the Customer declined, 

the option of authenticating or encrypting and the Customer agrees to be bound by any transaction, whether or not authorized, issued 

in the Customer’s name and accepted by the Bank in compliance with the security procedure the Customer chose. If the Customer 

elects not to utilize recommended message authentication and/or encryption technology, the Customer assumes all responsibility for 

unauthorized disclosure or unauthorized access to the Customer’s data that occurs during transmission or while such data is in 

storage. 

The Customer shall provide the Bank with ongoing access, at Bank’s request, to all Originators’ files. Further, upon notice from Bank, 

the Customer shall provide such auditors and other Bank personnel as Bank may, from time to time, designate in writing with 

reasonable access at all reasonable times to the Customer’s facilities, data and records relating to the initiation of Entries for the 

purpose of performing audits to verify the Customer’s compliance with these Service Terms and the Rules. The Customer shall 

provide, and shall cause its subcontractors to provide, such auditors and personnel any assistance that they may reasonably require. 

3. Settlement and Exposure Limits. Subject to this subpart, on the settlement date, the Bank will credit the Customer’s account with the 

Bank that the Customer specifies for the total of: (1) the Customer’s debit Entries that the Bank processed for settlement that day; (2) 

drafts issued for deposit to the Customer’s account on that day; and (3) any returned or reversed Credit Entries. The Bank may delay 

the availability of funds deposited into the Customer’s account by debit Entry or draft until those transactions cannot be reversed in 

accordance with the Rules or applicable law. 

The Bank will debit the Customer’s Account with the Bank that the Customer specifies for the total of credit Entries processed in the 

Customer’s name and for any returned Debit Entries and Drafts. The Bank may require the Customer to pay the Bank the amount of 

any credit Entries on the date of transmission to the Bank or otherwise prior to the settlement date. The Bank also may require the 

Customer to maintain collateral with the Bank in an amount the Bank specifies. 




The Bank may from time to time establish or revise maximum dollar limits for the total value of all outstanding files of credit Entries 

and/or debit Entries and Drafts that the Bank will release on the Customer’s behalf. The Bank may change or cancel the limits at any 

time without prior notice to the Customer, although the Bank will try to notify the Customer before the Bank does that. 

4. Warranties; Indemnity. Except as specified below, the Customer will be deemed to make the same warranties to the Bank as the 

Bank makes pursuant to the Rules. In the case of an Entry originated to another account with the Bank, warranties will be deemed to 

be given as of the time the Bank first processes the Entry. The Customer will not be deemed to warrant the power of the Bank under 

applicable law to comply with the requirements of the Rules or the conformity of Entries and other data the Bank transmits to the file 

specifications contained in the Rules. The Customer further represents, warrants and acknowledges that each Entry and Draft it 

originates will comply with all applicable U.S. laws and regulations and acknowledges that Entries may not be initiated that violate the 

laws of the United States. 

The Customer agrees to indemnify the Bank and the Bank’s employees, officers, directors and agents and hold all of them harmless 

from and against any and all claims, demands, losses, liabilities or expenses (including attorneys’ fees and costs) resulting directly or 

indirectly from (1) the Customer’s breach of any warranty made under this section and (2) compliance by Bank and the RDFI with any 

request the Customer makes for a cancellation, stop payment, reversal or recall of any Entry. 

5. Stop Payments; Reversals and Recalls. Customer’s instruction to cancel, stop payment of, reverse or recall one or more Entries 

must be received by Bank in such time and manner as Bank specifies. Bank will process these transactions in accordance with Bank’s 

procedures advised to Customer. Entries or other instructions may not be amended or modified. 

6. Third-Party Service Providers. The Customer may choose to use a third-party service provider or service bureau to issue Entries or 

other instructions, handle returned Entries or perform other functions for and on the Customer’s behalf. If the Bank accepts such 

Entries or other instructions, the Customer will be bound by them. The Customer is responsible for all actions taken or not taken by the 

Customer’s provider, and the Customer is responsible for all costs and expenses of the Customer’s provider. 

7. Third-Party Sender. If the Customer is a Third-Party Sender, as such term is hereafter defined, (a) the Customer warrants that the 

Originator has agreed to be bound by the Rules and has satisfied the obligations of an Originator under the Rules; (b) in any case 

where the Originator fails to perform its obligations under the Rules as an Originator, the Customer shall indemnify, defend and hold 

the Bank harmless from and against any and all claims, demands, losses, liabilities and expenses, including attorneys’ fees and costs, 

that result directly or indirectly from the failure of the Originator to perform its obligations as an Originator under the Rules; (c) the 

Customer agrees to cooperate with the Bank regarding any request for information concerning the identity of any Originator; and (d) the 

Customer represents, warrants and covenants that neither these Service Terms nor anything related to the ACH Origination Services 

violates, contravenes or is inconsistent with any of the terms, conditions or provisions of any agreement, understanding or arrangement 

between the Customer and the Originator. Further, the Bank will rely on the Customer to evaluate the legitimacy of the Originators and 

their transactions originated by the Customer and for ensuring that instructions do not involve illegal activities. The Customer hereby 

represents and warrants to Bank that Customer (a) conducts due diligence on each Originator for which the Customer is initiating 

Entries in accordance with “Know Your Customer” policies and procedures maintained by Customer that provide for the gathering of 

information relating to the originator’s principal business activities and geographic location and verification that the Originator is 

operating a legitimate business and (b) regularly monitors its Originator’s transactions for suspicious activities. Upon request by the 

Bank, the Customer shall promptly provide to the Bank Customer’s written due diligence policies and procedures and results of 

monitoring activities. 

The Customer must notify the Bank immediately if the Customer suspects or becomes aware of any activity or transaction of an 

Originator that the Customer believes may be of an illegal or illegitimate nature or that involves the proceeds of illegal activity or that 

was conducted, in part or whole, for the purpose of disguising the source of funds. The Bank will be entitled at any time upon notice to 

the Customer to decline to provide the ACH Origination Services, or terminate the provision of ACH Origination Services, for any 

Originator on whose behalf the Customer is originating Entries if the Bank determines that there are excessive returns or reversals of 

Entries originated on behalf of such Originator or if the Bank becomes aware of any information indicating suspicious, fraudulent or 

illegal activity related to such Originator or for any other reason. Customer shall provide the Bank with ongoing access, at Bank’s 

request, to all Originators’ files. Further, upon notice from the Bank, the Customer shall provide such auditors and other Bank 

personnel as the Bank may, from time to time, designate in writing with reasonable access at all reasonable times to the Customer’s 

facilities, data and records relating to the initiation of Entries for the purpose of performing audits to verify the Customer’s compliance 

with this section. As used herein, “Third-Party Sender” shall mean a person who is not an Originator, who has authorized an ODFI or 

another Third-Party Sender to transmit, for the account of the Third-Party Sender or another Third-Party Sender, (i) a credit entry to the 

account of a Receiver with an RDFI, or if the Receiver is also the RDFI, to such Receiver, in order to effect a payment from the 

Originator to the Receiver, or (ii) a debit entry to the account of a Receiver, or if the Receiver is also the RDFI, to such Receiver, in 

order to effect a payment from the Receiver to the Originator. 

8. IAT Entries. If Customer is originating Entries that are required to be formatted under the Rules as IAT Entries, Customer will comply 

with all applicable Rules relating thereto, and Customer will originate such Entries only through one of Bank’s ACH origination channels 

that support IAT origination. Some of Bank’s ACH origination channels do not accommodate IAT Entries; upon request, the Bank will 

advise Customer as to which of Bank’s ACH origination channels can be used for IAT origination. 

If a foreign currency conversion is performed by Bank in connection with an IAT Entry, Customer acknowledges that the foreign 

currency exchange rates fluctuate, and accepts the risk of such fluctuation, including fluctuations in rate between the time Customer 

submits the Entry Data Instructions and the time the transaction is executed and/or reversed, returned or recalled. Any payment 

returns and/or reversals will be credited to Customer’s account in the currency in which Customer’s account is denominated, and 

Customer is responsible for any rate fluctuations. 




In the event of an erroneous or duplicate IAT Entry originated for payment to a receiving bank outside the United States, the rights of 

Bank and Customer with respect to reversal or recall of such Entry are subject to the laws, regulations and payment system rules of 

the receiving bank’s jurisdiction. 

Customer acknowledges and agrees that IAT Entries may be delayed in processing or posting due to the Bank’s or RDFI’s review of 

such Entries for OFAC compliance. Further, Customer understands and acknowledges that unlike PPD Credit Entries, there is no 

requirement under the Rules that IAT Credit Entries that are made available to an RDFI by its ACH operator by 5:00 pm on the 

banking day prior to the Settlement Date be made available to the Receiver at the opening of business on the Settlement Date; 

cleared IAT Credit Entries must be made available no later than the Settlement Date of the entry, but funds are not required to be 

available at opening of business on the Settlement Date. 

B. ACH Debit Block & ACH Transaction Review 

ACH Debit Block is a Service that allows a customer to return ACH debit entries originated to the Customer’s account with the Bank. ACH 

Transaction review allows the Customer to review ACH debit and credit entries originated and posted to the Customer’s account with the Bank 

and to instruct the Bank to return some or all of these transactions. 

1. ACH Debit Block: 

(a) 

(b) 

Service. The Customer can select from a variety of authorization or blocking criteria and advise the Bank in a manner and form 

acceptable to the Bank. The Bank will return any blocked transaction indicating that the ACH debit was not authorized. 

Company ID Numbers. If the Customer elects an option that blocks or allows ACH debits from specified companies, the 

Customer must supply the Bank with the applicable ACH Company ID Number of the Originator as it appears on the 

Company/Batch Header Record. The Company ID Number will be the sole criterion for blocking Debit Entries (unless Customer 

has also set maximum dollar limits) and Bank will have no obligation to take any other steps to determine the identity of the 

Originator. The Customer will be solely responsible for obtaining the correct Company ID Number for each such Originator. 

The Customer understands that Company ID Numbers are not unique and that a Company ID Number may identify more than 

one Originator and one Originator may have multiple Company ID Numbers. The Customer understands that Company ID 

Numbers are not a perfect filter and that transactions from Originators may be blocked or allowed if the Originator uses a 

Company ID Number other than the one Customer identifies. The Bank will not be responsible for transactions blocked or allowed 

in accordance with the instructions the Customer provides for the Company ID Number. 

(c) 

Debits Not Affected by Blocking. ACH debit blocks do not apply to certain transactions. The following types of ACH-related debits 

will not be blocked: 

debits to the Customer’s account to offset any ACH credit Entries originated by the Customer through Bank; 

reversals of previously received ACH credit Entries; 

returns or reversals by the RDFI of ACH Debit Entries originated by the Customer through the Bank; 

Reclamation Entries; 

debits to the Customer’s account initiated by the Bank or Bank’s agent to correct processing errors, effect back valuations, 

make other adjustments or for fees, charges or other amounts the Customer owes the Bank; and 

debits to the Customer’s account that the Bank posts pursuant to its internal procedures in order to comply with applicable law, 

regulations or payment system rules or guidance. 

2. ACH Transaction Review: 

(a) 

(b) 

(c) 

(d) 

The Customer shall use filter criteria available through the service to select the types or categories of incoming ACH debit and/or 

credit transactions to be reviewed or the Customer may elect to review all incoming ACH transactions subject to Section 2(d) 

below. 

Based upon the filter criteria selected by the Customer, ACH transactions meeting that criteria will be made available for the 

Customer to review not later than a designated time on the banking day following the day on which the transactions are posted to 

the Customer’s account. The details provided by the Bank for each Entry will include account number, dollar amount, company 

ID, receiver’s name, standard entry class code and settlement date. 

The Customer shall advise the Bank by means of an agreed upon transmission method not later than the Bank’s designated cutoff 

time on the same day as transaction information is made available for those transactions, if any, that are unauthorized and that 

the Customer wishes to return. The Bank is entitled to rely on any instructions that it receives and that it reasonably believes to be 

genuine. The Bank shall return all such transactions and make corresponding adjustments to the Customer’s account to which 

the transactions had been posted. All transactions reported to the Customer as to which Bank does not receive a timely return 

instruction from the Customer will remain posted. 

The following types of ACH transactions will not be made available for the Customer’s review and decisioning: 

debits or credits to the Customer’s account to offset any ACH Entries originated by the Customer through the Bank; 

reversals of previously received ACH Entries; 

returns or reversals by the RDFI of ACH Entries originated by the Customer through the Bank; 




Reclamation Entries; 

debits or credits to the Customer’s account initiated by the Bank or Bank’s agent to correct processing errors, effect back 

valuations, make other adjustments, or to comply with legal requirements or for fees or charges the Customer owes the Bank; 

and 

if the Customer is also subscribing to the ACH Debit Block service, any transactions blocked and returned pursuant to that 

service. 

(e) 

Certain transactions reviewed and approved by the Customer may nevertheless be returned by the Bank. This will happen if (i) 

there are insufficient funds in the Customer’s account to cover the amount of an ACH debit or other charge, (ii) a stop payment 

was previously placed on the transaction or (iii) the Bank determines the transaction must be returned for legal or regulatory 

reasons. Certain transactions that the Customer advises should be returned may nevertheless be posted by the Bank; these 

include ACH debits or credits to the Customer’s account that the Bank posts pursuant to its internal procedures in order to comply 

with applicable law, regulations or payment system rules or guidance. 

C. U.S. Funds Transfer 

J.P. Morgan’s Funds Transfer Service enables the electronic transfer and settlement of funds between the Customer and a beneficiary of the 

payment to destinations around the world. Customers use USD funds transfer services (as opposed to checks or ACH payment services) 

when they seek same-day settlement with intraday finality and irrevocability of payments. 

1. Service. The Customer may issue payment orders against its accounts with the Bank by means of SWIFT, electronically, by telephone 

or by such other method as the Customer and the Bank may agree upon. All funds transfer instructions sent to the Bank shall be in the 

format specified by the Bank and must be received by the Bank no later than such time as may be established by the Bank upon notice 

to the Customer. The Bank will determine the order in which it processes payment orders. If the Customer’s payment order bears the 

codeword “PRIORITY” or “TIMED” in such field as the Bank specifies, the Bank will use reasonable efforts to move such payment order 

to the front of the Bank’s processing queue, and such payment shall be handled in accordance with the Bank’s procedures for 

processing such payments 

2. Security Procedures. All payment orders and communications requesting amendment of payment orders issued in the Customer’s 

name are subject to verification by the Bank in accordance with the security procedures agreed upon between the Customer and the 

Bank. Such security procedures may be set forth in written agreements between the Customer and the Bank. 

3. Advices. The Customer may subscribe to Bank services for the delivery of account-related activity and information (“Advices”), to a 

party designated by the Customer, including but not limited to information relating to credits and debits to a Customer account, and the 

return or rejection of certain payments. Advices may be sent via SWIFT or to devices capable of receiving text messages, such as 

alphanumeric pagers and cellular phones, or as otherwise agreed upon by the parties. The Customer is responsible for maintaining 

the accuracy of the information that is required to deliver such Advices, including but not limited to the address and/or telephone 

number of the recipient and, if applicable, the messaging components and conditions that will trigger the transmission of the Advices. 

4. Processing. The Bank reserves the right to use any funds transfer system and any intermediary bank in the execution of any funds 

transfer Instruction and may otherwise use any means of executing the funds transfer Instruction which the Bank deems reasonable in 

the circumstances. The Bank and other financial institutions may rely upon the identifying number of the beneficiary, the beneficiary’s 

bank or any intermediary bank included in the funds transfer. Also, the beneficiary’s bank in the funds transfer Instruction may make 

payment on the basis of the identifying number even though it identifies a person different from the named beneficiary. 

5. Same-Day Amendment and Cancellation Service. The Customer may subscribe to a service to enable same-day amendment and 

cancellation of payment orders. Once the Bank has expressly approved the customer’s use of the service, all cancellation or 

amendment messages sent to the Bank shall be in the format specified by the Bank and must be received by the Bank no later than 

such time as may be established by the Bank upon notice to the Customer. 

6. Reference Pattern Search. The Customer may subscribe to a service to enable the Customer to instruct the Bank to repair 

information on incoming and outgoing payment orders, and to perform additional services related to beneficiary deduction services. 

The Customer shall comply with such formatting requirements specified by the Bank in connection with such services. In connection 

with beneficiary deduction services, the Customer represents and warrants that it has obtained all necessary authorizations to enable 

the Bank to deduct transaction charges from the funds transfer amount payable to the beneficiary. 

D. U.S. Funds Transfer by Check 

J.P. Morgan’s U.S. Funds Transfer by Check Service allows the Customer to instruct the Bank (as the Customer’s agent) to draw U.S. dollar 

checks (“Disbursement Checks”) payable to the order of payees and in amounts designated by the Customer for distribution. 

1. Requests for Disbursement Checks. All requests for Disbursement Checks must be transmitted to the Bank via authenticated 

SWIFT transmission, or one of the Bank’s proprietary access mechanisms. The Customer shall transmit the requests in such format as 

the Bank specifies from time to time. The Bank may (but shall have no obligation to) process requests that do not conform to these 

Service Terms and may impose additional fees for such processing. 




2. Issuance. Unless the Customer specifies a future issuance date in the Customer’s request, each Disbursement Check will be issued 

within one banking day of the day on which the Bank receives the issuance request. The Bank will not honor requests to draw 

Disbursement Checks to any person or entity with whom or with which the Bank is prohibited to do business by law or regulation, or in 

any case where compliance would, in the Bank’s judgment, conflict with applicable law or good banking practice. Disbursement Checks 

will be signed by the Bank on the Customer’s behalf substantially as follows: 

Drawer: 

By: 

[Customer Name] 

JPMorgan Chase Bank, N.A. as Agent 

for the Above-Named Drawer 

As of the day a Disbursement Check is issued, the Bank will debit the Customer’s designated demand deposit account in the amount of 

the issuance instruction. 

3. Stop Payments Orders. The Customer may issue a stop payment order in respect of any Disbursement Check only by a message 

sent via authenticated SWIFT to a Bank location to be designated by the Bank and in the format designated by the Bank from time to 

time. Any stop payment order must include the reference number assigned by the Bank to the Customer’s request for the issuance of 

such Disbursement Check. The Customer shall pay a service fee for each stop payment order in the amount then in effect at such time 

the Customer issues the stop payment request. 

E. Lockbox 

Lockbox is a remittance processing Service offered to customers to support their accounts receivables business needs. Through this service, 

the Customer’s remittance deposits are sent to a Post Office Box and picked up by the Bank and delivered to or via courier for further 

processing and posting to the Customer’s deposit account. 

1. Service. The Bank will maintain the Post Office Box for the Customer's remittances and will have unrestricted and exclusive access to 

the Post Office Box while providing the Lockbox Service. Customers requiring Caller Service or Business Reply Mail Service for 

remittance collection must obtain prior approval from the Bank. Upon approval, the Customer will secure such services directly with the 

United States Postal Service (the “USPS”) and ensure the Bank is authorized to collect the mail. The Bank shall not be responsible for 

delays in processing due to the Customer’s failure to pay the USPS for such services or any other action taken or not taken by USPS. 

The Bank may direct clients to include specific codes or formats within their assigned address in order to ensure mail is identified 

correctly. The Customer is responsible for ensuring their customers’ remittances are properly addressed in order to prevent delays in 

processing. 

2. Deposit; Endorsement. The Bank will collect all mail delivered to the designated Post Office Box, and will open the mail, process the 

checks eligible for this service (the “Items”) and credit the funds to the Customer account or process for collection the Items received, 

except: i) Items which the Customer has instructed the Bank in writing, and the Bank has agreed not to process; ii) Items which the Bank 

believes should receive the Customer's special attention; iii) Items for which the Customer is not the payee, unless the Customer has 

provided proper authorization to process for credit or collection of such Items; and iv) any other matter or merchandise received. The 

Bank will not process such excepted Items or other matters or merchandise, but will forward them to the Customer unprocessed. The 

Bank assumes no responsibility for the inadvertent processing of Items excepted from processing. The Bank will process credit card 

payments as point of sale transactions, obtaining authorization as required by applicable card rules; provided, however, the Bank will not 

place phone calls for authorization of referrals or process credit transactions. The Bank shall not be deemed a merchant processor and 

shall not be liable for any data entry errors or any chargeback. The Bank assumes no liability for any matter or merchandise received 

through the Post Office which is not a depositable Item, including cash. Any failure by the Bank to process an Item other than as 

provided herein does not constitute a failure by the Bank to exercise ordinary care. The Customer shall be liable to the Bank as a 

general endorser on all Items processed by the Bank. 

3. Differing Amounts. If the amount of an Item written in words and figures differ, the Item will be processed for amount written in words. 

If the Item is accompanied by an invoice or statement and the amount on the statement matches the amount written in figures, and the 

Customer has requested, and the Bank has agreed, to process such Item for the amount written in figures, the Item may be processed 

for the amount written in figures. In the event the Bank processes the Item for the amount written in figures, the Customer indemnifies 

the Bank for any claim which may arise from that action. 

4. Foreign Items. 

a. Canadian Item Processing. Unless the Bank has agreed otherwise, the Bank will submit both U.S. Dollar and Canadian Dollar 

Canadian items for processing through correspondent banks in Canada. The Customer must maintain an adequate line of credit to 

cover the total value of all outstanding Canadian Items in order to avoid Canadian items being processed for Collection. The Bank 

assumes no liability for delays in processing due to an insufficient credit line. Additional fees may apply for items handled through 

Collection. Canadian Dollar checks drawn on banks in Canada will be deposited to the Account unless otherwise agreed to by the 

Bank and the Bank will subsequently make any adjustments to the Account for the currency difference and the currency exchange 

rate fee. The Bank will credit the Customer Account for Items processed for collection as set forth in the Bank’s collection policies as 

amended from time to time, less all fees and charges. The Customer bears all risk of any fluctuation in currency exchange rates. 

b. All Other Foreign Items. Unless the Bank has agreed otherwise, the Bank will process for collection any foreign Items received, in 

accordance with the Bank’s usual collection procedures for such Items. The Bank will credit the Customer Account for Items 

processed for collection as set forth in the Bank’s collection policies as amended from time to time, less all fees and charges. The 

Customer bears all risk of any fluctuation in currency exchange rates. 




5. Returned Items; Re-presentment. If any Item is returned to the Bank unpaid for any reason or there is a claim involving an Item 

deposited to the Customer Account, the Bank will charge back that Item, together with any fees or other amounts allowed on such claims 

or for returned Items, against the Customer Account, regardless of whether such debit causes an overdraft to the Customer Account. If, 

however, the Bank has been instructed in writing by the Customer to re-present Items which have been dishonored or returned to the 

Bank unpaid for reasons other than account closed, the Bank may do so automatically and without notice to the Customer, and the Bank 

reserves the same rights to debit the Customer Account should any such Items remain unpaid after the re-presentment. 

6. Security for Imaged Items. The Bank has specified Security Procedures for receiving and accessing Imaged Items, Imaged Documents 

and lockbox transaction data. The Bank is not obligated to send any images or data or allow access through the Delivery Media to any 

images or data which are not requested or accessed in accordance with the Security Procedures. The Customer acknowledges that 

once a CD-ROM is received, or it has accessed images by any Delivery Media, persons having access to the Customer's computers and 

image archives may have access to the Imaged Items, Imaged Documents and lockbox transaction data. . 

7. Image Option. If the Customer elects and this image option is available at the designated Bank processing location, the Bank will 

provide images of the Items ("Imaged Items") received together with images of related documents ("Imaged Documents"), through the 

media ("Delivery Media") and at the intervals agreed upon between the Bank and the Customer. The Customer may receive additional 

service material, including user guides, software licenses and other terms in connection with the selection of this option. 

8. Original Documents; Image Storage. Unless the Bank has agreed otherwise, the Bank will image all Items and associated remittances 

and retain original documents on site for no longer than 14 days. All original documents will be destroyed 14 days after processing. If 

the Customer uses the Bank’s Regional Retail Lockbox product, associated original documents are retained on site no longer than 7 

days. The Bank will store Imaged Items for a period of seven (7) years from the date of the applicable transaction regardless of any 

additional imaging service requested by the Customer. If the Customer elects storage of Imaged Documents, the Bank will store Imaged 

Documents for a period of thirty (30) days (Short Term Storage) to ten (10) years (Long Term Storage) from the processing date of the 

applicable transaction., per the Customer’s selection If the Customer elects to image and not store Imaged Documents with the Bank, 

such images will be delivered to the Customer via daily Direct Image Transmission. 

9. Accuracy; Legibility. The information delivered to the Customer through the Delivery Media will be the same as the information in the 

data entry file provided to the Customer for the applicable time period. If the data entry file contains errors, those errors will also occur on 

the Delivery Media. The Bank will provide images that are as legible as possible given the legibility of the underlying remittance 

documents and the selected Delivery Media. The Bank has no liability or responsibility for the condition of the original remittance items 

provided to the Bank, and it reserves the right to review and approve sample remittance items for legibility prior to providing this service. 

The Customer is responsible for reviewing images obtained through the Delivery Media and to promptly notify the Bank of any images 

that are not clear. 

10. Disclosures. As between the Customer and the Customer’s clients, if applicable, certain payments collected hereunder may be 

subject to various cut-off times and payment deadlines (the “Disclosures”). The Customer acknowledges and agrees that the Bank has 

no duty to inquire as to the content of any such Disclosures, is not bound by them, and makes no representations or warranties, explicitly 

or implicitly, regarding same. The Customer is responsible for ensuring that the processing and payment cut-off times established by the 

Bank are in compliance with the Disclosures and Customer’s responsibilities under applicable laws and regulations. The Customer 

further acknowledges and agrees that the data processed by the Bank belongs to the Customer or the Customer’s clients. 

F. Coin & Currency 

Coin and Currency Services, also referred to as Cash Vault Services, provides coin and currency delivery and deposit services to companies 

that use large quantities of cash. With a nationwide vault network, Customers can place orders for currency, make deposits 24/7 and track 

activity by location through electronic reporting options. 

1. Cash Orders. The Customer may issue written instructions for the Bank to deliver coin and currency to an armored courier service as 

designated by the Customer (the “Courier”) in accordance with the Bank’s guidelines (“Cash Order”). The Customer acknowledges that 

orders for cash can be transmitted to the Bank only during such time as set forth in the Cash Order. The Bank is authorized to debit 

the Customer’s designated account for the amount set forth in the Cash Order (the “Cash”). If the Bank has agreed to such an 

arrangement, the Customer may also place a Cash Order directly at one of its branch locations by issuing a check to debit the 

Customer’s account at the Bank or as a “cash for cash” exchange. The Bank and the Customer may agree to a limit on the amount of 

Cash that may be delivered pursuant to a Cash Order (“Cash Limit”). 

2. Cancellations and Amendments. A Cash Order may be cancelled by the Customer orally, telephonically, electronically or in writing 

by a person the Bank reasonably believes to be authorized to act for the Customer and only if the cancellation is received within a 

reasonable time before the Cash is delivered to the Courier (“Cancellation”). A Cash Order may only be amended orally or 

telephonically and the Bank will not be responsible for any change in a Cash Order it has received. Any attempt to amend a Cash 

Order electronically may result in duplicate Cash being delivered or other error, at the sole risk of the Customer. 

3. Notice of Rejection/Execution. If the Bank rejects a Cash Order request, it will promptly notify the Customer of the reason. The 

Bank will notify the Customer when it has executed a Cash Order. Unless, within three (3) business days after receipt of notification of 

the execution of a Cash Order, the Customer notifies the Bank in writing that a Cash Order was unauthorized or otherwise 

unenforceable against the Customer, the Bank shall not be liable for executing the Cash Order as notified, including any loss of 

interest. 

4. Security Procedure. The Bank must receive a Cash Order using a touch-tone telephone, or other electronic communications device 

mutually agreed upon by the Customer and the Bank, based upon codes assigned by the Bank to the Customer that identify the 




Customer and the location (collectively, “Codes”). The Customer agrees that: (a) use of Codes constitutes a security procedure for 

verifying the authenticity of a Cash Order as being that of the Customer (“Security Procedure”); and (b) the Customer is bound by any 

Cash Order, the authenticity of which is verified as being that of the Customer by the Bank using the Security Procedure; and any 

Cancellation. The Customer and the Bank will maintain reasonable security and control of the Codes. The Bank is not responsible or 

liable for detecting any error in the transmission or content of any Cash Order or Cancellation and the Security Procedure is not 

intended to detect any such error. No agreement or instruction of the Customer restricting acceptance of any Cash Order or 

Cancellation is binding on the Bank, except as set forth in these Service Terms or in a writing signed by the Customer and the Bank. 

These Security Procedures do not apply to Cash Order requests made by the Customer at one of our branch locations when the 

Customer is making a “cash for cash” exchange or issuing a check to debit the Customer’s account at the Bank. 

5. Courier Service. The Customer may deliver and pick up shipments of cash or checks to or from the Bank by using the services of a 

courier that has been authorized by the Bank, who will act solely as the Customer’s agent. The courier must comply with the Bank’s 

guidelines, as amended from time to time, and must maintain all licenses and permits required by law in addition to adequate insurance 

to cover its liabilities in providing courier services. The Bank may refuse to permit any courier to enter its premises with or without 

cause, in which case the Bank will use reasonable efforts to promptly notify the Customer. With regard to Customer's couriers, 

Customer is responsible for any individual's actions while at the Bank's facilities including theft, property damage, intentional crimes 

and any other act or omission even if such actions would be considered outside the scope of their employment and whether the 

individual is impersonating an employee of the courier if the Bank has followed its customary procedures for identifying the individual. 

6. Deposit Presentment and Processing. With regard to deposits delivered to one of the Bank’s vault areas, the Customer must deliver 

deposits in sealed tamper-proof plastic security deposit bags that meet the standards described in the Bank’s guidelines and contain 

only cash, coin and checks. The bags may also contain food stamps if the Customer provides proof satisfactory to the Bank of the 

Customer’s authority to redeem food stamps. The Bank will open the bags and process the deposits. 

(a) 

(b) 

(c) 

Delivery to Vault. If the Bank agrees to accept the Customer deposits at a vault location, the Bank will provide a receipt indicating 

the number of bags it has received. This receipt is not an acknowledgment of the contents of any bag, nor is any telephonic or 

other acknowledgment of a deposit. 

Delivery to Branch for Delayed Processing. If the Bank agrees to accept the Customer deposits at a branch location, the Bank will 

not verify the amount of the deposits at the time of receipt but will provide the Customer with a receipt showing the amount 

indicated in the Customer’s deposit slip. This receipt is not an acknowledgment of the contents of any bag. 

Delivery to Unattended Facility. If the Bank agrees to allow the Customer to use one of the Bank’s unattended facilities (including 

but not limited to a night depository or commercial ATM), the Bank may provide the Customer with an access device (such as a 

key or card that may require a personal identification number (“PIN”). The Customer must return all access devices to the Bank 

upon request. We will process any deposits delivered to an unattended facility as provided for in the Bank’s guidelines. If the 

Customer receives a receipt from an unattended facility, the receipt is not an acknowledgment of the contents of any bag or of the 

receipt of any bag. While the Customer or the Customer’s Courier is physically present at one of the Bank’s unattended facilities, 

the Customer is a licensee only and the Bank has no responsibility for the safety of the Customer or its Courier while at such 

facility. 

7. Discrepancies. All deposits are subject to verification. If there are differences between the amount credited by the Bank and the 

amount shown on the deposit slip prepared by the Customer or the receipt provided to the Customer or its Courier upon initial 

presentment, the count will be recounted. The Bank’s determination and records as to its receipt of any bag and as to the contents of 

any bag is conclusive and binding on the Customer, and the Bank may correct any credit made to the Customer’s account. The Bank 

will notify the Customer’s representative designated in the service implementation questionnaire if the difference is more than the 

minimum amount specified in the Bank’s guidelines. All Cash Orders must be validated by the Customer within 24 hours of receipt. If 

a currency strap, coin bag or wrapped coin difference is identified, contact Cash Services Customer Support at 888-872-0517 to 

request a Cash Order Claim Form. The completed form and proper documentation must be postmarked within 48 hours of receipt of 

the Cash Order. Any claims postmarked after the 48-hour period will be denied and Customer will have no right to request or receive 

an adjustment after such time period. 

8. Relationship upon Delivery of Bags. Until the Bank recounts the contents of the bags and enters a final credit to the Customer’s 

account as provided in these terms, the Bank is not responsible for any authorized contents or the value of any such authorized 

contents based upon any deposit ticket included with the bag. 

9. Liability at Unattended Facility. The Customer assumes all risks of using any unattended facilities, including risks of theft, robbery 

and personal injury; the Bank is not responsible if a facility fails to operate properly in any way, including failing to open, close, lock or 

unlock. It is the Customer’s responsibility to verify that its bags have dropped down completely into the facility, and the Customer 

agrees that it will not leave any bags in any facility that does not appear to be operating properly. The Bank will not be liable to the 

Customer if any unattended facility, tele-entry or online system is closed or otherwise unavailable for use at any time. 

G. Positive Pay, Reverse Positive Pay and Payee Verification 

Positive Pay, Reverse Positive Pay and Payee Verification services help prevent check fraud on Customers accounts by identifying 

discrepancies between checks presented to the Bank for payment and those checks issued by Customers. With Positive Pay, the Customer 

sends check issuance information to the Bank and the Bank compares such information to checks being presented for payment. With Reverse 

Positive Pay, the Bank sends the Customer information on checks being presented for payment and the Customer does its own comparison. 

Payee Verification is an enhanced feature for Positive Pay whereby the Customer includes payee name information and the Bank compares 

such information against the payee names on checks being presented. As a condition precedent for receiving Payee Verification, the 

Customer must be receiving Positive Pay in connection with the same Account. 




1. Issuance Information. The following information is defined as “Issuance Information” for each Item: i) Account number; ii) Item serial 

number; iii) dollar amount; iv) issue date [for Positive Pay and Payee Verification only]; and v) the payee name [for Payee Verification 

only]. For Positive Pay and Payee Verification, the Customer will provide the Bank the Issuance Information by the Banking Day on 

which the Customer issues Items, by means of a mutually agreed upon transmission method the Issuance Information. The Bank will 

compare the Issuance Information with the Items presented to the Bank for payment against the Account. For Reverse Positive Pay, 

the Bank will send the Customer the Issuance Information and the Customer will compare such information with the checks they have 

issued. 

2. Discrepancies. For Positive Pay and Payee Verification, if Items are presented to the Bank for which it has not received timely 

Issuance Information or containing information different from the Issuance Information for that Item, the Bank will notify the Customer 

by means of a mutually agreed upon method, by the designated time of the Banking Day following the Banking Day the Item is 

presented. The Customer shall advise the Bank by means of a mutually agreed upon method by the designated time on that same 

Banking Day whether any such Item is authorized for payment (“Presentment Decision”). In the event that the Customer fails to timely 

inform the Bank about any Item for which a Presentment Decision is requested, as required above, the Bank is authorized to return 

such Item unless otherwise agreed by the Customer and the Bank. For Reverse Positive Pay, the Bank will provide Issuance 

Information to the Customer of Items presented for payment; the Customer shall advise the Bank by means of a mutually agreed upon 

method by the designated time on that same Banking Day whether any such Item is authorized for payment; and in the event that the 

Customer fails to timely inform the Bank as required, the Bank is authorized to pay such Item(s) unless otherwise agreed by the 

Customer and the Bank. The Bank is entitled to rely on any instructions that it receives and reasonably believes to be genuine. 

3. Payee Verification Additional Terms. For Payee Verification, Customer acknowledges that Items that have been converted to ACH 

transactions prior to being presented for payment will not be eligible for this service and the payee name information will not be 

compared to the Issuance Information for Items that have been converted to ACH transactions. If the Customer fails to provide the 

Issuance Information in the file format required by the Bank, the Bank will not be liable for not detecting any discrepancy between the 

Item and the Issuance Information or for processing such Item. The Bank reserves the right to set a threshold amount for Items (as 

may be revised by the Bank from time to time) to be reviewed under the Payee Verification (the “Threshold Amount”). The Items below 

the Threshold Amount will be handled according to the standard Account Documentation governing the Customer’s Account; however, 

the Customer will not be liable for such Items if the discrepancy would have otherwise been detected under this Service. With regard to 

payee name comparison, the Bank will compare the payee name provided in the Issuance Information to the payee lines in the 

name/address block identified on the Item presented as provided for in the Bank’s setup requirements and will be limited to those 

parameters specifically agreed to by the Customer and Bank. 

4. Voided Items. The Customer agrees to place a void on an Item in the Issuance Information only with respect to Items that are not in 

circulation. If the Customer wants to stop pay on a check that has been issued, the Customer is required to issue any Stop Payment 

request pursuant to the Bank’s Account Terms, outside of these services. 

5. Item Payment. The Bank is not obligated to maintain signature cards for the Account and whether or not the Bank does maintain such 

signature cards; in no event shall the Bank be obligated to inspect any check for the presence or authenticity of any signature or to 

determine whether any signature is authorized. The Customer acknowledges that the Bank’s adherence to these procedures in these 

terms, in lieu of signature examination, will constitute the exercise of good faith and ordinary care by the Bank in handling Items 

presented for payment against the Account. 

6. Over the Counter Presentment. The Bank may, without liability to the Customer, refuse to pay any Item presented for encashment at 

any of the Bank’s branch locations. If an Item is presented for encashment at one of the Bank’s branch locations at the teller line, the 

Customer authorizes the Bank to pay such Item based upon the Positive Pay information at the teller line. The Bank may charge a 

person who cashes an Item drawn on the Customer’s Account a fee at the time of encashment. 

H. Controlled Disbursements 

Controlled Disbursement Accounts help customers effectively manage the disbursement process to gain control over idle balances and 

automate funding transfers and is designed to provide disbursement totals early each business day. 

1. Controlled Disbursement Account. Each Controlled Disbursement Account, except as set forth herein, shall be opened and 

maintained in accordance with the Bank's Account Documentation. Customer agrees that if it fails to utilize one of the Bank’s positive 

pay services on the Controlled Disbursement Account, that failure will constitute Customer negligence contributing to the making of any 

unauthorized signature and Customer assumes the risk that Items presented against the Controlled Disbursement Account may be 

forged or altered, to the extent that the positive pay services the Bank offers may have prevented any loss. The Bank will have no 

liability for any loss related to an Item presented against the Controlled Disbursement Account which would otherwise generally have 

been returned under such positive pay services. 

2. Payment of Items. Bank, on each banking day, will advise Customer of the total amount of Items drawn against the Controlled 

Disbursement Accounts that are presented for payment, on that day, to the Bank by a Federal Reserve Bank or another depository 

institution pursuant to a same-day settlement arrangement. Bank will honor checks or drafts (“Items”) which are properly payable, but 

shall have no obligation to pay any Item should sufficient immediately available funds to cover such Items not be transferred to the 

Controlled Disbursement Account in accordance with these Service Terms and the Account Documentation. 

3. Over-the-Counter Presentment. Bank may, without liability to Customer, refuse to pay any Item presented for encashment at any of 

the Bank’s branch locations. 




4. Funding Account for Controlled Disbursement. Customer will maintain with Bank a designated account for purposes of funding the 

Controlled Disbursement Account, or the funding account may be maintained at an affiliated bank or other financial institution (the 

"Funding Account"). Customer authorizes Bank to debit the Funding Account for the total amount of the Items presented and any 

funds transfers against the Controlled Disbursement Account, and to promptly transfer such amount to the Controlled Disbursement 

Account even though such a debit may bring about or increase an overdraft. All funds transfers from the Funding Account to the 

Controlled Disbursement Account shall be in immediately available funds. Customer will maintain sufficient available funds in the 

Funding Account to cover Items and funds transfers presented against the Controlled Disbursement Account, and the Bank shall have 

no obligation to transfer funds, process Items for payment or complete any funds transfers unless there are sufficient available funds in 

the Funding Account. The Bank is authorized to debit the Funding Account for any obligations owed directly or indirectly on the 

Controlled Disbursement Account. The Bank shall not be liable for failure to pay any Item presented for payment against any Controlled 

Disbursement Account due to insufficient funds in the Funding Account. 

5. Media. Bank will transmit to Customer by the transmission method or media agreed to by Customer and Bank information regarding 

Customer’s Controlled Disbursement Account. 

6. Routing Transit Number. Customer agrees to use the designated controlled disbursement account routing transit number on the 

Items it issues from the Controlled Disbursement Account. Customer acknowledges that if it fails to use such designated controlled 

disbursement account routing transit number the Bank is authorized to terminate this Service or any Service feature upon notice to the 

Customer. 

7. Financial Condition. In the event of the deterioration of the financial condition of the Customer, as determined in the Bank’s sole 

discretion, the Bank may immediately terminate the Service, any Service feature, and/or may convert any Controlled Disbursement 

Account to a stand-alone demand deposit account without prior notice to the Customer. 

I. Image Cash Letter 

The Image Cash Letter Service allows the Customer to make certain deposits electronically by using a capture device to create an electronic 

image of a paper check and transmit it and related data to the Bank. As part of the Service, the Customer must use software and hardware 

provided by or acceptable to the Bank. 

1. Transmission and Processing. The Customer shall provide through its own methods or devices the captured check images and 

check data, including the magnetic ink character recognition formatting (MICR) information through electronic transmissions (the 

“Transmissions”) in the format and specifications required by the Bank’s File Standards and within the cutoff times provided by the 

Bank. The Customer authorizes the Bank to process the Transmissions as Substitute Checks, Electronic Images or Photos in Lieu, as 

may be applicable for further clearing through or with any other financial institution, clearinghouse or Federal Reserve Bank. If the 

Customer has chosen to have items processed as ACH transactions, the Bank will convert eligible items to ARC or POP entries, as 

defined and provided for in the ACH Origination Service Terms. The Customer agrees that it is solely responsible for the creation and 

sending of these Transmissions to the Bank. If any Transmission (including any source document for purposes of these Service Terms) 

does not meet the Bank’s or any transferee’s standard requirements for processing, the Customer assumes all risk of loss or delay in 

processing such Transmission and authorizes the Bank to either (a) return the Transmission to the Customer without further 

processing, (b) process the Transmission as sent from the Customer, (c) process the Items as photocopies in lieu of the originals or (d) 

repair or attempt to repair the Transmission for further processing. 

2. Image Cash Letter File Deposit Time. The Transmissions must be sent to the Bank prior to the deposit deadline. Any Transmission 

will be deemed to have been received when the entire file has been written onto the Bank’s system and made available for the Bank to 

validate. Based upon the size of the Transmission file, there may be a significant delay between the time Customer begins to send the 

file and the completion of the transfer as stated above. As a result, the Customer will make every effort to send the Transmission file 

as early as possible. Files that are received after a deposit deadline will be considered deposited as of the next deposit deadline. 

Processing fees and funds availability will be assessed based on the deposit deadline that is met. 

3. Customer Responsibility. The Customer shall be solely responsible if any Transmission for which the Customer has been given 

provisional credit is returned or reversed, and neither the Bank nor its subcontractors shall be liable or responsible for same. The 

Customer acknowledges that all credits received for deposit are provisional, subject to verification, final settlement or return. 

Information and data reported hereunder: (a) may be received prior to final posting and confirmation and is subject to correction and (b) 

is for informational purposes only and may not be relied upon. The Customer agrees that the Bank shall have no liability for the 

content of payment-related information. The Customer shall be solely responsible for the original checks, including storage and 

retrieval. The Customer agrees to provide a legible copy of an image or the original check if requested by the Bank within five (5) 

business days of such request. If the Customer is unable to provide the original or legible copy, the Customer shall be liable for any 

associated loss or claim involving the check. 

4. Suspension/Cancellation of Service. The Bank reserves the right to suspend or terminate the Service, in whole or in part if the Bank 

believes Customer is in breach of these Service Terms or is otherwise using or accessing the service in a manner inconsistent with the 

rules and regulations relating to the service being provided and such breach. Further, this service will automatically terminate if the 

Customer’s account with the Bank is closed for any reason. Either party may terminate the service upon thirty (30) days’ prior written 

notice to the other party; provided, however, that the terms of Section 10 will apply to any termination prior to the time period set forth in 

the pricing schedule. 




5. Warranties. 

(a) 

(b) 

(c) 

Customer warranty. The Customer warrants and represents to the Bank that: (a) each Transmission contains accurate and 

legible images of all of the information on the front and back of the original checks at the time each check was truncated; (b) each 

Transmission also contains a record of all applicable micro-line information required for a substitute check and the accurate 

amount of the check; (c) each Transmission complies with the technical standards for an electronic item under Regulation J, 

Federal Reserve Operating Circulars 3 and 5, and for a substitute check under Federal Regulation CC; (d) no person will receive 

a transfer, presentment or return of, or otherwise be charged for, the check (either the original check, or a paper or electronic 

representation of the original check) such that the person will be asked to make payment based upon a check it has already paid; 

(e) the Customer will not redeposit through this service any transmission representing a check previously deposited and returned 

to the Customer; (f) the Customer will employ commercially reasonable security measures and firewalls sufficient to protect the 

Transmissions and storage to ensure no unauthorized access to or use of the original checks or duplicate presentment; and (g) 

the Customer will only create transmissions for checks that originated as paper checks. 

If the Customer is a financial institution or is otherwise transmitting Items payable to third parties, the Customer also represents 

and warrants to the Bank that: (1) In connection with each Item deposited through the service, the payee of the Item has 

authorized the electronic transmittal of the Item for deposit to Customer’s account; if the Customer is scanning Items from a 

location outside of the United States, such authorization covers the cross-border transmittal of the Item; and (2) the Customer has 

established an anti-money laundering program in compliance with anti-money laundering laws and regulations applicable to it and 

such anti-money laundering program includes policies, procedures and controls designed to detect and prevent money 

laundering, including “know your customer” policies and procedures, monitoring of transactions for suspicious activities and 

reporting of suspicious activities, which the Customer believes effectively prevents the use of the Customer’s operations, 

personnel or facilities for money laundering purposes. 

The Bank and its subcontractors make no representations or warranties, whether express, implied or statutory regarding or 

relating to any of the technology or service and/or access to or use of the service or technology provided to the Customer 

hereunder. The Bank and its subcontractors specifically disclaim any and all implied warranties of merchantability, fitness for a 

particular purpose and noninfringement. The Bank and its subcontractors also do not guarantee that the Customer’s access to 

the service provided under these terms will be uninterrupted, error free or secure. 

6. Third-Party Service Provider. The Customer may choose to use a third-party service provider or service bureau to submit Items or 

perform other functions for and on the Customer’s behalf. If the Bank accepts such Items or other instructions from the Customer’s 

provider or service bureau, the Customer will be bound by them. The Customer is responsible for all actions taken or not taken by the 

Customer’s provider including all costs and expenses incurred by the Customer’s provider. 

7. Pricing Schedule/Volume/Termination Penalties. The Bank and the Customer may agree to a pricing schedule incorporated herein 

by reference, including the length of time the service will be provided, the charges/fees and the volumes, as may be stated in the 

pricing schedule. If the Customer terminates the Service or the service is otherwise terminated without fault of the Bank prior to the 

period of time set forth in the pricing schedule, the Customer shall pay the Bank a termination fee equal to twelve (12) times the 

average monthly transaction fee for the service for the period of time the service was provided to the Customer. Such termination fee 

shall be paid within thirty (30) days’ after the effective termination date. 

8. Limitation of Liability. In no event will the Bank’s liability under these terms for any damages of any kind exceed an amount equal to 

the fees the Customer paid the Bank for the service during the twelve (12) months preceding the date on which the Customer made the 

corresponding claim. If the Customer makes a claim during the first twelve (12) months of the service, the Bank’s liability will be limited 

to the average monthly fee the Customer paid during that time multiplied by 12. This limitation of liability is in addition to the terms set 

forth in the Account Terms. 

9. Indemnification. The Customer agrees to indemnify the Bank for any loss or expense (including attorney’s fees and expenses of 

litigation) resulting from: breach of any of the warranties made by the Customer pursuant to these service terms or the Account 

Documentation; any claim pertaining to any warranty or indemnity that the Bank makes with respect to an Item under the Check 

Clearing for the 21 st Century Act, Federal Reserve Board Regulations CC and J and all other laws, regulations and industry and 

clearinghouse rules applicable to Items. These indemnities are in addition to those in the Account Terms and relevant Service Terms. 

10. Miscellaneous. The provisions of Sections 3, 5, 7, 8 and 9 shall survive termination of these Service Terms. 

J. Check Printing 

The Check Printing Service enables the Customer instruct the Bank to issue checks and/or documents on behalf of the Customer. 

1. Payment Orders. The Bank will execute each payment order issued by the Customer which is received by the Bank in a manner 

described in these Service Terms or as otherwise provided by the Bank (the “Payment Order”). Payment Orders may include printing 

of non-payment documents (“Documents”) if agreed to by the Bank based upon these Service Terms. 

2. Cancellations. A Payment Order may be cancelled by the Customer if notice of cancellation is received by the Bank in writing from a 

person it reasonably believes is authorized to cancel the Payment Order for the Customer (“Cancellation”); provided, however, that a 

Cancellation will not be effective unless and until it is received by the Bank so that the Bank has a reasonable time to act upon such 

Cancellation and that the related Payment Order has not already been accepted by the Bank or the related check has not already been 

issued by the Bank. A Payment Order may not be amended or modified. The Bank has no obligation to adjust or stop payment or 

posting of a Payment Order it has accepted. 




3. Receipt of Payment Orders and Cancellations. Customer shall transmit Payment Orders to the Bank to the location and in 

compliance with the formatting and other requirements provided by the Bank in the operating procedures prepared for the Customer. 

The Bank may reject any Payment Order that does not comply with this Section. 

4. Identifying Number. The Customer acknowledges that: (a) if a Payment Order identifies its beneficiary or specifies the owner of the 

account to be debited, as applicable, by both a name and an identifying or bank account number and the name and number identify 

different persons, execution, or transmittal of the Payment Order, payment to the beneficiary or debit to the account to be debited may 

be made solely on the basis of the number; and (b) if a Payment Order identifies any bank both by a name and an identifying number 

and the number identifies a person different from the bank identified by name, any bank may rely solely on the identifying number. 

5. Issuance of Checks/Documents. For each Payment Order accepted by the Bank, the Bank will: (a) cause a check to be printed and 

completed; (b) cause a laser facsimile signature authorized by the Customer to be placed on the check; (c) if agreed upon, cause other 

Documents to be completed; and (d) mail the check or send the check by courier along with any Document as agreed upon 

(collectively, “Issue”). The Customer expressly grants the Bank the authority to Issue each check and Document. 

6. Notice of Rejection. The Bank will promptly notify the Customer if a Payment Order is rejected by the Bank and will advise the 

Customer as to the reason. The notice or advice shall be deemed commercially reasonable if made available through the Service or 

given electronically, orally, by telephone or facsimile transmission. 

7. Control. The Bank is not responsible or liable for the detection of errors contained in any Payment Order as received from Customer 

and is entitled to rely on the information contained therein. No agreement or instruction of the Customer restricting acceptance of any 

Payment Order is binding on the Bank, except as set forth in these Service Terms or in a writing signed by the Customer and the Bank 

and the Bank has had a reasonable opportunity to act before any affected Payment Order is executed, made or transmitted by the 

Bank. 

8. Reliance Upon Instructions. The Customer is responsible for, and the Bank may rely upon, the contents of any notice or instructions 

that the Bank believes in good faith to be from the Customer without any independent investigation. The Bank shall have no duty to 

inquire into the authority of the individual giving such notice or instruction. In the event that the Bank receives conflicting notices or 

instructions, the Bank can act on either notice or instruction or can refuse to act. Customer shall indemnify the Bank, its officers and 

employees and hold it and them harmless for and from any and all claims, losses liabilities and expenses arising or resulting from 

actions taken or not taken by the Bank in conformity with the notice or instruction it receives from Customer. 

9. Limitation of Liability. The Bank will exercise reasonable care in the performance of the Service. The Bank shall not be liable to 

Customer, other than as imposed by law or by these Service Terms for failure to act in accordance with reasonable commercial 

standards in the banking industry. Reasonable care in providing these Check Print Services shall be measured by the relevant 

provisions of any service levels or business requirements and the standard of reasonableness of the procedures established for the 

transaction involved. Mere inadvertence or an honest mistake of judgment shall not constitute a failure to perform such obligations or a 

failure to exercise reasonable care and in no case will be deemed wrongful. The Bank shall not be liable for consequential, indirect or 

special damages even if it has been advised of the possibility of them. 

K. Telephone Tax Payment 

The Telephone Tax Payment Service is a Service whereby the Customer can direct the Bank, via touchtone telephone, pc dial-up or browserbased 

platform, to make tax payments via ACH from an account with the Bank that the Customer specifies. The Bank may pay taxes from the 

Customer’s account in accordance with any instructions issued in the Customer’s name that the Bank verifies pursuant to the security 

procedures specified in these Service Terms. The ACH Origination Service Terms are incorporated into these Service Terms by reference. 

1. Receipt of Instructions and Cancellations. The Customer may send instructions and cancellations only during service hours the 

Bank specifies. The Bank may change the service hours upon prior notice to the Customer. The Bank must receive instructions not 

later than the cut-off time the Bank establishes. The cut-off time will be on or before one or two banking days, depending upon the type 

of tax payment, prior to the banking day the appropriate taxing authority is to be paid. 

The Bank must receive any cancellations by the cut-off time the Bank establishes for cancellations on the banking day prior to the 

scheduled posting of the debit to the Customer’s account. The Customer may only cancel a tax payment instruction before the Bank 

processes it. Cancellation instructions must be received through this tax payment service. If the Customer missed the cut-off time but 

still wants to cancel a tax payment, the Customer must communicate the request directly to the Bank’s Customer Service area. The 

Bank will request a return of the tax payment from the taxing authority. The taxing authority may assess a penalty for processing the 

return. 

2. Tax Payment Security Procedure. Instructions or Cancellations may be initiated only by entering, via touchtone telephone, pc dial-up 

or browser-based platform, a user ID, password and/or other access code that the Bank assigns to the Customer or that the Customer 

selects using the parameters the Bank specifies. Cancellations may also be initiated by contacting the Bank’s Customer Service area 

and providing the Customer’s valid user ID, password and/or other access code. 

3. Funding. The Customer authorizes the Bank to debit the Customer’s applicable account for the amount of each tax payment and for 

any applicable bank fees and charges when due. In the event the Customer does not have sufficient funds in the Customer’s 

applicable account to cover the amount of a tax payment, the Bank shall have no obligation to make the tax payment for the Customer 

but if the Bank does, the Customer agrees to reimburse the Bank immediately. Funds the Bank receives and hold pursuant to this 

service shall be held as a deposit liability to the Customer and not in trust for the Customer or the taxing authority. 




4. Limitation of Liability. If because of the Bank’s negligence or willful misconduct the Bank fails to make the Customer’s tax payment in 

a timely manner and that directly results in the Customer being penalized or owing interest, the Bank’s maximum aggregate liability 

shall be limited to the lesser of the amount of any penalty or interest actually imposed by the applicable taxing authority or the total fees 

the Customer paid the Bank during the prior 12 months. The Customer agrees to reasonably cooperate with the Bank in the Bank’s 

attempts to persuade the taxing authority to abate any penalty or interest. 

L. Client Access 

Client Access provides for electronic access to the Customer’s account information, reports and data (collectively, “Data”) and for the 

electronic transmission to the Bank of messages, service requests, and payment and nonpayment instructions (each an “Instruction”). The 

Bank reserves the right to modify the applications and products (each an “Application”) available via the Service, upon notice to the Customer. 

1. Security Procedures: 

(a) 

A Bank issued or approved security device (a “Security Device”) is required to access the Service. The Customer shall be bound 

by and adhere to the security procedures for use of the Service advised to it in writing through any medium by the Bank, as may 

be revised from time to time upon notice to the Customer, including without limitation the procedures set forth herein. The 

Customer shall notify the Bank immediately of loss or theft of a Security Device, any unauthorized use of a Security Device, or any 

other breach of security. The Bank may dishonor or disable any Security Device at any time and will inform the Customer of the 

same. 

The Customer agrees that any use of the Service with a Security Device is deemed to be carried out directly by and on behalf of 

the Customer. The Customer agrees to safeguard all Security Devices and to instruct each Authorized User, as defined below. 

The Customer will be responsible for ensuring that the Security Devices are known to and used only by Authorized Users. 

(b) 

(c) 

The Customer shall designate security administrators who shall have equal authority in accordance with the administrative control 

procedure for each Application. The Customer agrees to notify the Bank of any change in security administrators in the manner 

and form designated by the Bank. Any such changes shall be effective at such time as the Bank has received such notice and 

has had a reasonable opportunity to act upon it. 

The security administrators shall be responsible for (i) designating individuals as users (“Authorized Users”); (ii) identifying the 

functions of the Service that each user may access; (iii) requesting, creating, controlling, disseminating, and/or canceling user 

entitlements; (iv) receiving and distributing materials, notices, documents and correspondence relating to the security procedures; 

and (v) advising each user of his/her obligations hereunder or under any of the applicable Account Documentation. The security 

administrators shall provide to the Bank, upon the Bank’s request, a list of Authorized Users. In the absence of a valid designation 

of a security administrator at any time, the Bank may deliver Security Devices and materials to any person authorized to act on 

behalf of the Customer with respect to the accounts. 

2. Open Network Access; Equipment. The Customer acknowledges that there are certain security, corruption, transmission error and 

access availability risks associated with using open networks such as the Internet, and the Customer assumes all such risks. The 

Customer shall make an independent assessment of the adequacy of the Internet and the Bank’s security procedures. The Customer 

further acknowledges that the selection and use by it of any third party security and communications software and third party service 

providers is the sole responsibility of the Customer, and the Bank disclaims all risks related thereto, notwithstanding that the Bank may 

recommend certain security and/or communications software and services. The Customer agrees to, at its sole expense, procure and 

maintain all hardware, browsers, software and telecommunications equipment necessary to access the Service in accordance with the 

Bank’s recommended system configuration. 

3. Instructions; Data: 

(a) 

(b) 

(c) 

The Customer shall be solely responsible for the genuineness and accuracy, both as to content and form, of all Instructions 

properly received by the Bank. 

The Customer acknowledges that Data may not have been reviewed by the Bank, may be inaccurate, and may be periodically 

updated and adjusted. The Bank is not obligated to assure the accuracy of Data and will not be liable for any loss or damage 

arising out of the inaccuracy of Data. Further, the Bank shall have no liability for the receipt or viewing by any party of Data sent to 

the destinations designated by the Customer, including but not limited to email addresses, fax and telephone number(s). 

The Customer acknowledges that the Secure eMail Application is not intended for the transmission of Instructions to transfer cash, 

securities or other assets. The Customer shall not transmit, and the Bank shall have no obligation to act upon, any such 

Instructions transmitted through Secure eMail. 

4. Customer Warranties. The Customer represents and warrants to the Bank that: (i) prior to submitting any document which designates 

Authorized Users, the Customer shall obtain from each individual referred to in such document all necessary consents to enable the 

Bank to process the data set out therein for the purposes of providing the Service; (ii) the Customer has accurately designated in 

writing the geographic location of its Authorized Users and shall provide all updates to such information; and (iii) the Customer shall not 

access the Service from any jurisdiction which the Bank informs the Customer or where the Customer has knowledge that the Service 

is not authorized. The Customer hereby represents and warrants to the Bank that these Terms constitute its legal and binding 

obligations enforceable in accordance with its terms. 

Jurisdiction Specific Provisions Exhibit to Client Access Service Terms 




The additional jurisdiction specific provisions set forth below are applicable to the Customer based on the domicile of the Customer. Where 

any local laws or regulations of any jurisdiction apply as a result of the Customer’s users accessing the Service from such jurisdiction or as a 

result of the location of such accounts in such jurisdiction, the jurisdictional specific provisions of that jurisdiction shall apply to the use of the 

Service by such users. 

A. Australia & New Zealand – See further Paragraph L and P herein. 

The Bank’s liability to Customer for loss or damage of any kind in contract, tort (including negligence), under any statute or otherwise 

arising from or relating in any way to this Customer and/or its subject matter, is reduced to the extent that Customer caused and/or 

contributed to the loss or damage. 

Fees: 

To the extent that any supply made by the Bank under these Service Terms is a taxable supply for the purposes of the Australian Goods 

and Services Tax, or that goods and services tax under the New Zealand Goods and Services Tax Act 1985 is payable in respect of any 

supply under this License Agreement, (“GST”), the fees payable in respect of that taxable supply (“original amount”) will be increased by 

the amount of GST payable in respect of that taxable supply. Customer must pay the increased amount at the same time and in the 

same manner as the original amount. 

Consumer Warranties: 

1. Australia 

The following provision applies if, despite the terms of these Service Terms and the Account Documentation as applicable to the 

services provided under these Service Terms, the proper law of this Agreement is the law in force in an Australian jurisdiction: 

The Warranty and Limitation of Liability provisions of these Service Terms and the Account Documentation as applicable to the 

services provided under these Service Terms are subject to the following and only apply to the extent permitted by law: 

“Notwithstanding anything in this Agreement, consumers may have the benefit of certain rights and remedies pursuant to the Trade 

Practices Act 1974 (Cth) and similar state laws in Australia in respect of which liability may not be excluded. If so, then to the 

maximum extent permitted by law, such liability is limited, at the Bank’s option, in the case of goods to either (a) replacement of the 

goods; or (b) correction of defects in the goods; and in the case of services to either (a) re-supply of the services; or (b) the cost of 

re-supply of the services.” 

2. New Zealand 

If the Customer is acquiring software in New Zealand, the Customer confirms it is acquiring the software for the purposes of a 

business (as that term is defined in the Consumer Guarantees Act 1993), and that the Consumer Guarantees Act does not apply to 

the software. 

Miscellaneous. The following provision shall apply if, despite the terms of these Service Terms and the Account Documentation as 

applicable to the services provided under these Service Terms, the proper law of these Service Terms is the law in force in the New 

Zealand jurisdiction: 

The Limitation of Liability and Warranty provisions of these Service Terms and the Account Documentation as applicable to the 

services provided under these Service Terms are subject to the following and only apply to the extent permitted by law: 

Notwithstanding anything in these Service Terms and the Account Documentation as applicable to the services provided under 

these Service Terms, a customer may have the benefit of certain rights and remedies pursuant to the Consumer Guarantees Act 

1993 in respect of which liability may not be excluded. If so, then to the maximum extent permitted by law, such liability is limited, at 

the Bank’s option to (a) re-supply of the Service; or (b) the cost of re-supply of the Service. 

B. Cambodia – See further Paragraphs L, M and P herein. 

C. Peoples Republic of China – See further Paragraphs L, M and P herein. 

The Customer undertakes to be bound by the Service Terms, the terms of which have been read and accepted by the Customer. IN 

PARTICULAR, THE CUSTOMER HAS READ, UNDERSTOOD, AND AGREED TO SECTION 4 (INSTRUCTIONS; DATA), THE SECOND 

PARAGRAPH UNDER SECTION C AND SECTION P OF THE JURISDICTION SPECIFIC PROVISIONS EXHIBIT OF THE SERVICE TERMS. 

The Customer agrees that: (i) the Bank shall be liable only for direct damages which are the result of its failure to exercise ordinary care 

or its willful misconduct; and to the maximum extent permitted by law, (ii) the Bank shall not be liable for incidental, indirect, special, or 

consequential damages, regardless of the form of action and even if the Bank has been advised of the possibility of such damages. 

Nothing in these general terms shall limit any party’s liability for fraud. 

Notwithstanding any other provision to the contrary, where an overdraft condition may exist, to the extent permitted by law (including the 

law where the Customer is incorporated), the Bank may debit the Customer Account even though the debit may bring about or increase 

an overdraft. If any debit to the Customer Account brings about or increases an overdraft, such overdraft shall be immediately due and 

payable, to the extent permitted by law (including the law where the Customer is incorporated), without further notice or demand. 




The Customer represents that prior to submitting any document which designates the persons authorized to act on the Customer's 

behalf, including, but not limited to a security administrator designation form, Customer shall obtain from each individual referred to in 

such document all necessary consents to enable the Bank to process the data set out therein for the purposes of providing the Service. 

Laws, Rules, Regulations and Practices: The Customer agrees to and shall always abide by and comply with all laws, rules and 

regulations (whether or not having the force of law including without limitation rules from time to time made by the People’s Bank of China 

and all determinations made thereunder) from time to time applying or relating to any or all of the Accounts and/or deposits the Customer 

may place with or through the Bank. The Bank has the right, without prior notice to the Customer (or upon notice if a prior notice is 

required by law), to do such acts, deeds and things and adopt such practices as the Bank may in its absolute discretion consider 

necessary or appropriate to ensure due compliance with or implementation of any or all of such laws, rules and regulations, 

notwithstanding any contrary provisions of the Account Terms and the Account Application forms. The Customer further agrees to abide 

by and comply with such practices(s) as the Bank may from time to time in its absolute discretion adopt in connection with such 

compliance or implementation. 

These Service Terms shall be governed by and construed in accordance with the laws of the Peoples Republic of China. 

Any dispute arising from or in connection with these Service Terms, including any question regarding its existence, validity, breach or 

termination, between the parties, shall be submitted to the China International Economic and Trade Arbitration Commission (“CIETAC”) 

in Beijing, for arbitration which shall be conducted in accordance with its arbitration rules in effect at the time of applying for arbitration. 

The language of the arbitration shall be in English. The tribunal shall consist of three arbitrators who must be able to conduct the 

arbitration in English. The parties hereby agree to the appointment of arbitrators who may not be on CIETAC’s Panel of Arbitrators nor on 

any unofficial panel of arbitrators. The party initiating arbitration shall appoint one arbitrator and the party responding to the notice of 

arbitration shall appoint the other arbitrator. The third arbitrator (the “Presiding Arbitrator”) shall not be a national of the PRC and shall 

be selected by agreement between the parties or, failing agreement within 20 Business Days after the date of appointment of the second 

of the two arbitrators appointed by the respective party, by the chairman of CIETAC. Any arbitral award a) shall be made in English and 

Chinese; b) shall be final and binding on both parties; and c) may be enforced in accordance with the provisions of the award. 

D. Hong Kong – See further Paragraph L and P herein. 

Nothing in these Service Terms shall limit any party’s liability for death or personal injury caused by negligence of that party or its 

employees or for fraud. Any contractual limitation of liability shall be modified so that such provision shall be applicable to the services 

provided hereunder to the maximum extent permitted by law. 

The Customer represents that prior to submitting any document which designates the persons authorized to act on the Customer's 

behalf, including, but not limited to a security administrator designation form, Customer shall obtain from each individual referred to in 

such document all necessary consents to enable the Bank to process the data set out therein for the purposes of providing the Service. 

E. India – See further Paragraphs L, M and P herein. 

F. Indonesia – See further Paragraphs L, N and P herein. 

The Bank and the Customer agree that, for the effectiveness of any termination of these Service Terms or the Services provided 

hereunder, they hereby waive any provisions, procedures and operation of any applicable law to the extent a court order is required for 

the termination of these Service Terms and the Account Documentation as applicable to the services provided under these Service 

Terms. 

To the maximum extent permitted by law, the Bank may, at its sole discretion, make recordings and retain such recordings of telephone 

conversations and data transmissions between the Customer and the Bank. 

G. Malaysia – 

(i) 

The following terms shall apply in relation to the Service where it is provided in relation to accounts in Malaysia and/or where the 

Service is provided in Malaysia: 

(a) 

(b) 

(c) 

Paragraph L and P shall apply. 

Any references in the Service Terms to the term “Bank,” shall mean J.P. Morgan Chase Bank Berhad. 

The Bank shall give prior notice to the Customer of any change to these terms. 

(d) The Customer acknowledges that it may, through its security administrators, create maximum limits (at a user entitlement level) 

in relation to funds transfers that may be conducted using the Service, to limit the Customer's risks. Notwithstanding anything 

to the contrary in these terms, the Customer shall not be liable for any loss which is not attributable to or contributed to by the 

Customer. 

(e) The Service Terms shall be governed by and construed in accordance with the laws of Malaysia (without reference to the 

conflict of laws rules thereof). 




(ii) 

If the Service is to be accessed by a Customer (1) who is domiciled or incorporated in Malaysia, or (2) in Malaysia, that Customer 

undertakes not to access or utilize or attempt to access or utilize the Service provided by J.P. Morgan Chase Bank Berhad through 

any JPMorgan website other than http://www.jpmorganaccess.com.my. 

H. Philippines – See further Paragraph L and P herein. 

Subject to giving reasonable notice in writing the Bank, may amend the Account Documentation. The Customer will be deemed to have 

agreed to any such amendment, if the Customer fails to object thereto within five (5) days from receipt of such notice. 

I. Singapore – See further Paragraph L and P herein. 

Nothing in these Service Terms and the Account Documentation as applicable to the services provided under these Service Terms shall 

limit any party’s liability for death or personal injury caused by negligence of that party or its employees or for fraud. For the avoidance of 

doubt, to the maximum extent permitted by law, the Customer hereby expressly agrees that nothing done or omitted to be done by the 

Bank pursuant to this agreement shall amount to a breach of the Bank’s obligations under the bank secrecy laws of any jurisdiction. 

The provisions in Paragraph L, as applicable to Singapore, shall be without prejudice and in addition to any other right of the Bank to 

disclose any information on the Customer under any applicable law. 

J. Republic of China (Taiwan) – See further Paragraphs L, N and P herein. 

The Customer hereby acknowledges that the Account Documentation and other related documents have been delivered to the Customer 

for review for a period of at least five (5) days before the execution. The Customer executes and delivers the Account Application after 

fully understanding the content of the above documents and hereby agrees to comply with the terms and conditions contained therein. 

K. Thailand – See further Paragraphs L, M and P herein. 

Nothing in of these Service Terms and the Account Documentation as applicable to the services provided under these Service Terms 

shall limit any party’s liability for gross negligence of that party or its employees or for fraud. 

L. The following provisions are applicable to Customers (or, where applicable, Authorized Users) located in the following jurisdictions: 

Australia, Cambodia, Peoples Republic of China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Pakistan, Philippines, Singapore, 

Sri Lanka, Republic of China, Thailand and Vietnam. 

The Customer hereby consents to the disclosure of any information relating to the Customer to (i) any bank examiner(s), governmental 

authority, the Bank's head-office and other branch offices, its affiliates and associates, assignees or prospective assignees, (ii) the Bank's 

auditors, counsel and other professional advisers and (iii) any other Bank’s sub-contractors or agents , in each case whether in India or 

elsewhere, as the Bank may, in good faith, consider necessary or desirable including, without limitation: 

1. for the collation, synthesis, processing and management of data and the storing of data relating to any Accounts held or transactions 

undertaken by the Customer; 

2. the reporting of transaction details and other customer-related information for global risk management, MIS and regulatory reporting 

and monitoring; 

3. the monitoring of the Bank's global credit exposure to its clients and others; 

4. for effecting any instruction by the Customer or any transaction for the benefit of the Customer, or effecting any disclosure that may 

be required of the Bank by any such party; 

5. enhanced operational, technology, finance and other support function efficiencies, or 

6. as may be required by law, regulations or legal process, provided that the Bank shall take such measures as it considers reasonable 

to preserve the confidentiality of such information or documents. The Bank shall at all times maintain in confidence all confidential 

information and documents relating to the Customer that are in the Bank's possession subject to the Bank's right to disclose such 

information and documents or requirements under the applicable law. 

M. The following provisions are applicable to Customers (or, where applicable, Authorized Users) located in the following jurisdictions: 

Cambodia, India and Thailand. 

Any dispute arising out of or in connection with the services provided pursuant to these Service Terms, including any question regarding 

its existence, validity or termination, shall be referred to and finally resolved by arbitration in Singapore in accordance with the Arbitration 

Rules of the Singapore International Arbitration Centre for the time being in force, which rules are deemed to be incorporated by 

reference in this clause. The International Arbitration Act (Cap 143A) shall apply. The tribunal shall consist of a single arbitrator to be 

appointed by the Chairman of the Singapore International Arbitration Centre. The arbitral proceedings shall be conducted in the English 

language and any award or awards shall be rendered in English. The award of the arbitrator shall be final and conclusive and binding 

upon the parties, and the parties shall be entitled (but not obliged) to have judgment. 




The arbitrator shall in all instances be required to apply the substantive law of the State of Ohio, United States of America (without 

reference to the conflict of laws rules thereof) and to enforce and apply the terms of these Service Terms and the Account 

Documentation as applicable to the services provided under these Service Terms. Under no circumstances shall the arbitrator be 

permitted to award: (i) punitive damages; or (ii) damages of any nature in excess of the amount claimed. In addition, all statutes of 

limitation that would be applicable in any court proceeding involving the same subject matter shall apply in any arbitration proceeding 

brought hereunder. Nothing in this clause shall be deemed to exclude the right of either party to apply for interim injunctive relief from the 

State or Federal courts of the State of New York, United States of America, provided that any court proceedings shall be restricted to 

such purposes only, unless the parties agree otherwise. 

Notwithstanding the above, any disputes related solely to a Customer Account opened and maintained in a state or jurisdiction other than 

New York shall be governed by the laws of that state or jurisdiction (without reference to the conflicts of law rules thereof). 

N. The following provisions are applicable to Customers (or, where applicable, Authorized Users) located in the following jurisdictions: 

Indonesia and Republic of China (Taiwan). 

Notwithstanding anything to the contrary contained in these Service Terms and the Account Documentation as applicable to the services 

provided under these Service Terms, the Bank shall have the right to proceed against the Customer in any other competent court in any 

other jurisdiction where the Customer’s assets are situated from time to time and the Customer agrees to submit to the jurisdiction of any 

court so chosen by the Bank. The Customer further agrees to waive any objections on the ground of venue or forum non coveniens or 

any similar ground. The taking of proceedings in any jurisdiction shall not preclude the taking of proceedings in any other jurisdiction 

whether concurrently or not. The Customer irrevocably and unconditionally waives any objection it may now or subsequently have to the 

choice of venue of any legal action arising out of or relating to these Service Terms and the Account Documentation as applicable to the 

services provided under these Service Terms. The Customer also agrees that a final judgment against it in any such legal action shall be 

final and conclusive. 

O. European Union 

The Customer acknowledges that it is not a "consumer" for the purpose of the European Union’s Electronic Commerce Directive ("ECD") 

(i.e. that it is not an individual) and agrees that the Bank shall not be required to make any disclosures or do any other thing which a nonconsumer 

may agree not to require under the UK rules and legislation implementing the ECD. For further information on the Bank, please 

see "Notice regarding EU e-commerce information" in the Terms & Conditions on http://www.jpmorgan.com. 

1. The Bank will collect information about the Customer and the Customer’s employees and agents (such as, without limitation, 

authorized signatory details) which may constitute personal data for the purposes of the Data Protection Act 1998 (the “Act”) and 

other relevant data protection legislation. Such personal data may be collected by or on behalf of the Bank in a number of ways (the 

“Collection Methods”), including via documentation relating to the provision to or use by the Customer of electronic banking services, 

or via the Customer’s use of such electronic banking services, and via other correspondence or communications between the 

Customer and the Bank. 

2. The Bank will use personal data collected by it or on its behalf via the Collection Methods for the following purposes (the 

“Purposes”), namely for the purpose of providing the services to the Customer in accordance with these Terms and the Product 

Terms, for the Bank’s internal administrative purposes, for contacting the Customer about products and services which the Bank or 

other members of the Bank’s group offer which the Bank believes may be of interest to the Customer, and as may be otherwise 

required by law or applicable regulatory or governmental authorities, and such purposes may include transfer of such personal data 

outside of the European Economic Area to the Bank’s subsidiaries or other connected companies or to other organizations as may 

be required by law or other applicable regulatory or governmental authorities. 

3. The Customer shall ensure that any disclosure of personal data made by it or by its employees or agents via the Collection Methods 

which relate to the Customer’s employees or agents is only made following notification by the Customer to data subjects of the 

Purposes for which their personal data may be processed by or on behalf of the Bank, and is otherwise fair and lawful. 

P. As part of the Service, the Bank may (at its sole discretion, and subject to the Customer agreeing to any additional terms) make available 

an Application which allows the Customer to access information, issue Instructions and/or service requests in relation to and/or for the 

commencement of certain products which may include, without limitation, time deposits, call deposits, cash sweeping services, entrust 

loans, as applicable. Where the Service is used for the above purpose, the Customer agrees that all actions conducted, and Instructions 

and service requests issued shall bind the Customer and, where applicable, be subject to review and acceptance by the Bank. The Bank 

shall be under no duty to verify any Instructions, service requests or actions of the Customer. Where applicable, the Bank may confirm 

its acceptance of any service requests/Instructions through the applicable Application or through any other means acceptable to the Bank 

Part II: Additional Service Terms – Consolidated Service Terms Booklet 

A. Multicurrency Deposits & Collections 

The Bank will provide Multicurrency Deposit and Check Collection Services to the Customer which will enable the Customer to accept checks 

drawn in a wide variety of currencies from its own deposit customers, sending such checks to a single location and receiving ledger credit or 

final payment to the Customer’s USD account at the Bank in a cost efficient manner, eliminating the need for the Customer to hold 

correspondent accounts with a multitude of banks in a multitude of locations. The Bank can handle a number of currencies on a deposit basis 

(see appendix A) and other currencies will be accepted but will be processed on a collection basis with the paying banks. 




A. Checks Processed on a Multicurrency Cash Letter Basis 

(1) Deposits will be posted with ledger credit (uncollected funds) on the processing date with forward value applied. The Bank’s cutoff 

time for same day processing is 2:00pm CST. Processing of checks through this Service is subject to the Bank’s credit risk 

review. Checks received through this Service that are ineligible for cash letter processing will be handled on a collection basis. 

Any returned checks will be debited to Customer’s account using the FX rate applied by the paying bank on the date of return. 

(2) The information reporting on checks processed through the Multicurrency Cash Letter services will appear as available on D+3 

and will continue to roll for one day until collected and is limited to the country of origin as listed in Appendix A. 

(3) Bank will process checks under the Multicurrency Cash Letter services by following the Bank’s own internal policies as to the 

method of collection. 

B. Checks Processed on a Collection Basis 

(1) A check will be processed on a Collection Basis if: 

 

 

 

 

requested by the Customer 

denominated in a non-standard currency (not one of the listed currencies handled on a cash letter basis) 

the check is a "third country cheque” (denominated in a currency other than the national currency of the country where the 

drawee bank is located) or 

the check is ineligible for cash letter processing for credit risk issues 

(2) Checks under certain threshold amounts as determined in the Bank’s sole discretion will not be processed by the Bank as the 

total charges for such processing may exceed the value of the check or paying banks may not accept such checks on a collection 

basis. For checks that the Bank does process on a Collection Basis, the proceeds will be credited to the Customer’s account in 

US currency within two banking days from receipt of good funds from the paying bank. Checks will be sent to the paying banks in 

accordance with the Bank’s own internal policies. If payment is not received from the paying bank, the Bank will send the first 

tracer after three weeks and subsequent tracers may be sent at two week intervals. Collection cases will typically be closed after 

two months and the Customer will be advised of the closure in writing. Once funds are credited to Customer’s account, such 

credit will not be reversed except in situations where a claim is made due to fraud or that the check was not authorized. 

C. Miscellaneous 

(1) Customer agrees that any losses resulting from rate fluctuations associated with adjustments or exception processing will be 

absorbed by the Customer. The mailing address for this Service is: JPMorgan Chase, Collection Department, 1111 Fannin St., 

Houston, TX 77002. 

(2) The availability policy and availability schedules may be changed without notice. 

(3) The provisions of the Bank’s account documentation, including account terms and conditions governing the operation of business accounts and services 

(“Account Documentation”) are incorporated into these Service Terms by reference. By signing the applicable Account Documentation or by using or 

continuing to use the Service, Customer agrees to these Service Terms. 




Appendix A: 

Cash Letter Currencies 

AUD 

CAD 

CHF 

DKK 

EUR 

GBP 

HKD 

NOK 

NZD 

SEK 

SGD 

Dollar 

Canadian 

Franc 

Krone 

Euro 

Pound 

Dollar 

Krone 

Dollar 

Krona 

Dollar 

B. International Cash Letter 

International Cash Letter is a Service wherein the Bank provides the Customer with U.S. dollar check deposit, processing and clearing 

services (the “Service”). The Service shall also be subject to the operating procedures contained in the Bank’s International Deposits 

Packaging Procedures 

1. Eligible Items: The following items are the only items eligible for transport via the Service (“Eligible Items”): 

Cash Letter: Checks and drafts drawn in U.S. dollars on, or payable through, banks located in the United States (including 

Puerto Rico, Guam and the U.S. Virgin Islands), endorsed for deposit to the Customer’s account at the Bank. Such items shall 

not be considered deposited to the Customer’s account until received and processed by the Bank’s United State’s location 

responsible for processing deposits to the Customer’s account. 

Check Collection: Checks and drafts submitted for clean collection and endorsed for deposit to the Customer’s account 

received at the Bank’s United State’s location for check collection services. 

Should the Customer include for carriage any documents or items that are not Eligible Items, the Customer agrees that the Bank has no 

responsibility or obligation with regard to such non-Eligible Items and agrees to hold the Bank harmless from and against all claims or liabilities 

relating in any way to such non-Eligible Items. 

2. Pick-Up Times: If the parties otherwise agree, the Bank may arrange with a designated courier to pick up Eligible Items from the 

Customer’s specified location at specific hours and deliver such Eligible Items to a Bank location for processing, and credit to specified 

the Customer account(s) on an agreed schedule. 

3. Appointment of Agent: If the parties otherwise agree, a designated courier may be selected by the Bank acting as the Customer’s 

agent with regard to such courier, the Customer acknowledges and agrees that the Customer has the authority to and does authorize 

the Bank to select and appoint this courier in such capacity to carry Eligible Items in accordance with these Service Terms. The Bank 

will notify the Customer promptly of any subsequent replacement of the courier. 

4. Delivery of Checks: The Customer will either deliver Eligible Items to the Bank at the designated locations using the Customer’s own 

courier or deliver Eligible Items to the Bank via the designated courier at such address as the Bank advises Customer from time to 

time. 




5. Processing the Customer’s Cash Letter: The Bank will receive and process the Customer’s Eligible Items in accordance with the 

normal U.S. Bank Check Clearing Guidelines. Processing at a foreign branch location may include receipt of the original checks, 

scanning and electronic transmission of the check information and check images to the Bank’s processing location in the United States 

as well as the retention and destruction of the original checks. 

6. Return Items: The Bank will notify the Customer promptly of all Return Items for Eligible Items received and processed under this 

Service. The Bank will advise the Customer’s designated office via S.W.I.F.T. or other agreed upon method of all Eligible Items of 

$2,500 and over. Return Items of less than $2,500 will be advised to the Customer via mail. If the Customer desires, the Bank will 

advise the Customer of all Return Items regardless of the amount of the Eligible Item. All Return Items will be delivered to the 

Customer’s designated location and may include substitute checks or imaged copies and not the original checks. 

7. Lost Items: The Customer agrees to maintain copies of both sides of all items sent to the Bank under this Service and agrees to 

furnish the Bank with such copies upon request. In the absence of such copies, Customer agrees to maintain detailed records of such 

items and to provide them to the Bank upon request. If Customer is unable for any reason to provide such copies or records, the Bank 

will be unable to facilitate reconstruction or collection in cases of lost or stolen items and the Customer agrees that the Bank will have 

no liability or responsibility in such situations with regard to such items. 

8. Insurance: If the Bank acts as agent for the Customer with regard to retaining the designated courier as stated in paragraph 3 above, 

the Bank will obtain from the designated courier limited insurance coverage to reimburse costs of reconstructing a lost cash letter (up to 

US$ 2,500) and consequential interest expenses (up to US$ 100,000) on the Customer’s behalf. In the event of loss of a cash letter by 

the designated courier, the Customer will receive this insurance for so long as such insurance is in place. The Bank does not assure 

that (1) it will continue to maintain such coverage during the entire term of this Service or for any specified period, (2) it will purchase 

insurance at any other rate than currently offered or (3) that the designated courier remains the provider of courier services to the 

Customer hereunder. 

9. Limitation of Liability: Unless resulting directly from the Bank’s failure to exercise ordinary care or lack of good faith, the Bank nor its 

branches, subsidiaries or affiliates will be liable to the Customer for loss, destruction, damage, misdelivery, theft, unexplained 

disappearance, confiscation or seizure by governmental or quasi-governmental authorities, or for delay in transmittal of any item, 

transmitted by, or for any matter in connection with the Service even though consolidation of the Customer’s sending may have been 

accomplished within a Bank controlled location. The Customer acknowledges that the courier may employ subagents in connection 

with the courier service, and that neither the courier nor its subagents will be liable for confiscation or seizure by governmental or quasigovernmental 

authorities, or for delay in transmittal of any item delivered to them unless directly resulting from courier’s or its 

subagent’s negligence or lack of good faith. 

10. Representations and Warrants: The Customer represents and warrants to the Bank, its foreign branches, subsidiaries and affiliates 

that: 

(a) 

(b) 

(c) 

In connection with each item delivered to the courier, that transmittal by courier of such items has been expressly authorized by 

the owner of the item, and the Customer agrees to indemnify and hold the Bank harmless against any losses, liabilities, claims, 

damages or expenses of whatsoever kind, including reasonable attorney’s fees, resulting from unauthorized transmittal. 

The Customer will not use the courier service for any purpose prohibited by foreign exchange regulations, postal regulations, or 

any other treaty, statute, regulation or authority and will not send via the courier service any non-Eligible Item or freely negotiable 

item via this Service. 

The Customer has established an anti-money laundering program in compliance with anti-money laundering laws and regulations 

applicable to it and such anti-money laundering program includes policies, procedures and controls designed to detect and 

prevent money laundering that the Customer believes effectively prevents the use of the Customer’s operations, personnel or 

facilities for money laundering purposes. 

11. Amendments: These Service Terms and any processing and packaging instructions may be amended by the Bank at any time upon 

15 days’ prior notice to the Customer. The Bank will provide prompt notice of any amendment. 

12. Termination/Suspension: The Customer may terminate the Service at any time upon written notice to the Bank. The Service Terms 

will continue to apply to all items processed under this Service. If the Bank decides to terminate this Service, the Bank will send the 

Customer notice thirty (30) days’ prior to the discontinuance of the Service. The Bank agrees to notify the courier if the courier was 

arranged by the Bank of such termination. Notwithstanding the foregoing, the Bank may immediately suspend the Service for so long 

as required to arrange substitute courier services, if necessary or if the Service under existing terms becomes at any time contrary to 

applicable law, regulations or order in any jurisdiction where the Bank is required to act. The Bank will give prompt notice of any 

suspension. 

13. Choice of Law: Jurisdiction: These Service Terms will be governed and construed in accordance with the laws of the State of New 

York, without regard to its conflicts of laws provisions. Both the Customer and the Bank irrevocably consent to the nonexclusive 

jurisdiction of the courts of the State of New York and United States Federal Courts in connection with any suit, action or proceeding 

arising out of or relating to the Service Terms. 




C. Foreign Exchange Payment 

Foreign Exchange (FX) transactions are payments and receipts where the currency of the transaction is different from the currency of the 

underlying account. The funds transfer may consist of more than one transaction in order to move funds from an originator’s account to a 

beneficiary’s account. The FX Payment Service allows the Customer to purchase or sell foreign currency as principal or agent (“Trader 

Contracts”) and to include related settlement instructions by means of an electronic communication system or a Bank access system (each an 

“Access System”). As used herein, “Value Date” means the date specified in each Trader Contract for the delivery of the currency to be 

bought or sold. 

1. Trading Currencies. Trader Contracts will be limited to the sale or purchase of the lawful currency of such countries or any composite 

currency as the Bank shall determine and advise the Customer from time to time. The Value Date may not be more than one year after 

the date on which the Customer enters into the Trader Contract. If the Customer chooses to make payment by checks to be issued 

with respect to the settlement of Trader Contracts, such checks shall be limited to such currencies as the Bank may announce to the 

Customer from time to time; and such currencies are subject to change or termination without prior notice. 

2. Contracting a Trade: 

(a) 

(b) 

(c) 

(d) 

(e) 

Data Input. The Customer shall enter into each Trader Contract by following the procedures set forth in the Service Material and 

by otherwise following the instructions provided through the Access System when using the Service. “Service Material” shall 

mean any administrative rules, clearing house rules, payment system rules, service terms or service guides, software licenses, 

Internet “click wrap” terms or disclosures, user guides or implementation forms that may contain operating procedures, security 

procedures, specifications or other requirements applicable to the Services. 

Contract Rate. The Bank, in its sole discretion, will determine all rates quoted by the Bank through the Access System. Such 

rates are based on various factors, including market information and information concerning the Customer and the proposed 

Trader Contract. The Bank shall have no obligation to quote a rate based on any particular rate existing in the market or by using 

any particular formula. 

Offer by the Customer. 1. For interactive services, the Bank and the Customer agree that the information displayed through the 

Access System relating to the contract rate shall be deemed an invitation by the Bank to the Customer to submit an offer to the 

Bank to enter into a Trader Contract. If the Customer wishes to make such an offer to the Bank, the Customer will enter the 

required information prior to the expiration time set for the quoted rate. 2. For straight-through process services, the Customer 

shall enter into each Trader Contract by following the procedures set for in the Documentation for that Service. The Bank and the 

Customer agree that when the Customer electronically transmits the instructions specified in the Documentation to the Bank, and 

in the manner and format specified in the Documentation, the Customer will be deemed to have made an irrevocable offer to the 

Bank to enter into a Trader Contract at such rate as is applied to that transaction by the Bank. 

Confirmation. The Bank may, but shall not be required to, accept any offer of the Customer solely by transmitting to the Customer 

through the Access System a confirmation (the “Confirmation”). At the moment the Bank transmits (as evidenced by its records) 

the Confirmation, the Bank and the Customer will have entered into the Trader Contract. The Confirmation will be sent to the 

Customer’s terminal (which depending on the Service used by Customer could be by return confirmation file), and the Customer 

may print the Confirmation, provided, however, that the Trader Contract will be valid notwithstanding the failure of the Customer to 

receive or print a Confirmation. Each Trader Contract will give rise to an obligation for the Customer to buy from the Bank, and for 

the Bank to sell to the Customer, the currency shown by the Confirmation as being purchased by the Customer, or for the Bank to 

buy from the Customer, and the Customer to sell to the Bank, the currency shown by the Confirmation as being sold by the 

Customer, on the terms shown in the Confirmation, for settlement on the Value Date. 

Buy Back of Currency. Trader Contracts, once entered into, are final and irrevocable. The Customer acknowledges and agrees 

that the Bank has no obligation to cancel, reverse or otherwise buy back foreign currencies purchased by the Customer under the 

Service. The Customer acknowledges that it may not be able to sell back certain foreign currencies once purchased (whether via 

the Client Access System, telephone with Bank representatives or otherwise). Although the Bank may elect to facilitate buy back 

of certain major currencies (in the Bank’s sole discretion), the Bank makes no commitment to buy back currencies notwithstanding 

any prior action or course of dealing. 

3. Settlement: 

(a) 

(b) 

Processing Settlement Instructions. The Customer shall provide settlement instructions for each Trader Contract no later than 

5:00 p.m. Eastern Time on the Value Date. If the Customer fails to provide settlement instructions by the Value Date as required 

herein, the Bank reserves the right to reconvert the currency into the original currency and the Customer will bear the risk of any 

change of currency rates. The Customer will enter settlement instructions pursuant to the procedures set forth in the Service 

Material and as provided to the Customer through the Access System. As a condition precedent to using this Service, the 

Customer is required to complete documentation provided by the Bank applicable for each service used for settlement. 

Funding Currency Transactions. Whenever purchasing a currency pursuant to a Trader Contract, the Customer shall make the 

requisite amount of available funds being used to make such purchase available to the Bank by depositing such funds into an 

account designated by the Bank no later than close of business for the currency being sold on the Value Date. Whenever selling 

currency, the Customer shall deposit such currency to an account designated by the Bank no later than close of business for the 

currency being sold on the Value Date. The Bank is authorized to reverse any payment orders transmitted by the Bank with 

respect to any Trader Contract if the Customer fails to deliver full and final payment to the Bank by the Value Date. 

Notwithstanding anything to the contrary in this Agreement, the Bank’s obligation to process settlement instructions for purchases 




of currency in advance of the Bank’s receipt of full and final payment from the Customer is subject to the limitation that the 

aggregate dollar value of Trader Contracts for purchases having the same Value Date shall not be in excess of an amount 

established by the Bank for the Customer from time to time; such amount shall be subject to revision or cancellation by the Bank 

at any time without prior notice, although the Bank will endeavor to notify the Customer prior to any revision or cancellation. 

(c) 

(d) 

(e) 

Cash Basis Customer. Customers who are established by the Bank as “Cash Basis” Customers may only execute spot 

transactions for the purchase of the lawful currency of such countries or any composite currency as the Bank shall determine and 

advise the Customer from time to time. The spot transaction will have a Value Date one or two business days from the 

“Transaction Date” (the date the Trader Contract is entered into) for most currencies, as established by the Bank. Cash Basis 

Customers will be debited on the Transaction Date instead of the Value Date. If the Customer’s account does not have sufficient 

funds available to cover the Trader Contract on the Transaction Date, the Bank, on the following business day, will cancel the 

Trader Contract and any associated payment order. The Bank shall have no liability to the Customer in the event the Bank 

cancels a Trader Contract due to the Customer not having sufficient funds available to cover the Trader Contract on the 

Transaction Date. 

Payment in Specified Currency. The receipt or recovery by either party of any amount in respect of an obligation of the other in a 

currency other than that specified for payment hereunder, whether pursuant to a judgment of any court or pursuant to a separate 

closeout agreement or otherwise, shall discharge such obligation only to the extent that on the business day immediately following 

such receipt, the recipient shall be able, in accordance with normal banking procedures, to purchase the relevant currency 

specified for payment in the amount specified with the other currency so received. If the amount of the relevant currency specified 

for payment hereunder or under a Trader Contract so purchasable shall be less than the amount specified hereunder of such 

obligation, the obligor shall, as a separate obligation and notwithstanding any judgment of any court, indemnify the recipient 

against any loss sustained by it. The obligor shall in any event indemnify the recipient against any costs incurred by it in making 

any such purchase of the relevant currency specified for payment. 

Settlement by Draft. For all Trader Contracts that the Customer elects to settle by draft, the Customer acknowledges and agrees 

that in the event the draft is not presented for payment within one hundred eighty (180) days from the date of issuance, the Bank 

shall have the right to cancel the draft, and the Customer authorizes the Bank to reconvert the funds into the original currency at 

the then-current rate and recredit the Customer’s Account. If the remitter is no longer a customer of the Bank, the Bank may, in its 

discretion, transfer balances to an unclaimed monies account, or issue a cashier’s check, sending it to the address of the 

Customer on the books and records of the Bank. In the event that the payee, holder or other third-party claims against the Bank 

on a cancelled draft, the Customer agrees that it shall be responsible for any losses in connection with such cancellation, including 

any amount recredited or otherwise paid to the Customer. The Customer acknowledges and agrees that applicable service 

charges and expenses, including stop payment and periodic maintenance fees, may be charged to the Customer’s Account or 

otherwise deducted from the amount to be paid to the Customer. 

4. General Provisions: 

(a) 

(b) 

Representations and Warranties. The following representations and warranties shall be deemed to be made and repeated by the 

Customer upon entry into any Trader Contract. The Customer represents and warrants that: i) each Trader contract or other 

Bank currency contract is entered into by the Customer for the purpose of hedging its exposure to currency fluctuation and not for 

purposes of speculation; and ii) the Customer has sufficient knowledge and experience to be able to evaluate the merits and risks 

of entering into each Trader Contract or other Bank currency contract, is acting in light of its own judgment or upon professional 

advice it obtained independently of the Bank or any agent of the Bank as to those merits and risks including, where relevant, its 

own judgment of the correct tax and accounting treatment of the Trader Contract or other Bank currency contract and it is not 

relying upon the view or advice by the Bank. 

Master Foreign Exchange Agreements. If the Customer and the Bank have entered or hereafter enter into any master agreement 

relating to foreign exchange contracts, Trader Contracts shall be subject to the cancellation and closeout provisions of any such 

agreement providing for liquidation of foreign exchange contracts upon the occurrence of specified events (including those 

provisions relating to closeout netting), but shall not be subject to the other provisions of such agreement such as those relating to 

the creation of foreign exchange contracts and (unless otherwise agreed) payment netting. 

Part III: Liquidity Solutions Service Terms – Consolidated Service Terms Booklet 

A. US Cash Concentration Service Terms (Single Entity) 

1. Service. JPMorgan Chase Bank, N.A. (the “Bank”) will provide the customer (the “Customer”) with its Cash Concentration Service (the 

“Service”) by which the Bank will automatically transfer funds in the amounts and in accordance with the instructions and selections set 

forth in the service implementation form or schedule for the Service (“Schedule A”) to and/or from the U.S. dollar demand deposit 

accounts maintained at the Bank in the U.S and listed on Schedule A (“Customer Accounts”). The provisions of the Bank’s account 

documentation, including terms and conditions governing the operation of accounts and services (“Account Documentation”), are 

incorporated into these Service Terms by reference. Capitalized terms used in these Service Terms, unless otherwise defined in these 

Service Terms, shall have the same meanings as set forth in the Account Documentation. By signing the Schedule A for the Service or 

by using or continuing to use the Service the Customer agrees to these Service Terms. 

2. Balances. The Customer shall maintain sufficient balances in the Customer Accounts to cover any amounts scheduled to be 

transferred. The Bank may refuse or reverse any transfer if there are insufficient balances to effect such transfer without creating an 

overdraft. If the Bank effects a transfer that causes or increases an overdraft to a Customer Account, such overdraft shall be 




immediately due and payable by the Customer, without further notice or demand, together with interest thereon for the period of the 

overdraft. 

3. Representations. The Customer represents and warrants: (i) that each Customer Account is not restricted in any way, and is owned 

and held outright by the Customer, and (ii) its obligations under these Service Terms are legal, valid and binding, and enforceable in 

accordance with their terms 

4. Authorized Changes. The Customer may, upon reasonable notice to the Bank, and consented to by the Bank, authorize additions, 

deletions or changes to the Schedules, which notice shall extend the representations, acknowledgments and terms of this Service 

Terms to such changes. 

5. Intercompany Reports. If the Customer selects, as a feature of the Service, the Intercompany Reporting Service feature (the “InterCo 

Feature”), that selection and affected Customer Accounts shall be specified on Schedule A for the Service. Under the InterCo Feature, 

the Bank will provide the Customer with reports, for the Customer Accounts, detailing: (i) a tracking of accumulated inter-account 

balance transfers; and (ii) a calculation of intracompany earnings and borrowing charges. In addition, the Bank, through the InterCo 

Feature, will provide the Customer with automated posting, to the affected Customer Accounts, of applicable intracompany earnings 

and borrowing charges. 

6. Required FDIC Disclosures. In the event of a failure of the Bank, funds transferred as part of a Service will be considered deposits of 

the account in which the funds are held, as reflected on the Bank’s end-of-day ledger balance, by the Federal Deposit Insurance 

Corporation after completion of all transactions related to the Service and will be insured by the Federal Deposit Insurance Corporation 

under its applicable insurance rules and limits. 

7. Term; Termination. These Service Terms shall be in effect as of the date of the applicable Schedule A, and shall remain in effect 

unless and until terminated. These Service Terms may be terminated by the Customer by sending written notice to the Bank. Any 

notice of termination sent to the Bank shall only be effective when actually received by the Bank and after the Bank shall have a 

reasonable time to act on such notice. These Service Terms may be terminated by the Bank, effective immediately upon the sending 

of written notice to the Customer. 

8. Notices. All notices to the Bank, pertaining to the Service, shall be sent to: JPMorgan Chase Bank, N.A. c/o JPMorgan Treasury 

Technologies Corporation – Liquidity Management Operations, 10420 Highland Manor Drive – 2nd Floor, Tampa, FL 33610. All 

notices to a Customer shall be sent to the Customer's last known address on the Bank's books and records. 

9. Governing Law. These Service Terms shall be governed by and construed in accordance with the laws of the State of New York, 

without reference to the conflict of laws provisions thereof. 

B. US Cash Concentration Service Terms (Multi Entity) 

1. Service. JPMorgan Chase Bank, N.A. (the “Bank”) will provide the customers (each a “Customer” or collectively the “Customers”) with 

its Cash Concentration Service (the "Service") by which the Bank will automatically transfer funds in the amounts and in accordance 

with the instructions and selections set forth in the service implementation form or schedule for the Service (“Schedule A”) to and/or 

from the U.S. dollar demand deposit accounts maintained at the Bank, in the U.S., and listed on Schedule A ("Customer Accounts"). 

The provisions of the Bank’s account documentation, including terms and conditions governing the operation of accounts and services 

(“Account Documentation”), are incorporated into these Service Terms by reference. Capitalized terms used in these Service Terms, 

unless otherwise defined in these Service Terms, shall have the same meanings as set forth in the Account Documentation. By signing 

the Schedule A for the Service or by using or continuing to use the Service the Customer agrees to these Service Terms. 

2. Balances. The Customers shall maintain sufficient balances in the Customer Accounts to cover any amounts scheduled to be 




overdraft. 

3. Representations. Each Customer represents and warrants, with respect to itself: (i) that each of its Customer Accounts is not 

restricted in any way, and is owned and held outright by the Customer, and (ii) that its obligations under these Service Terms are legal, 

valid and binding, and enforceable in accordance with their terms. 

4. Service Requirements. 

(a) 

(b) 

The Bank will provide the Service to the Customers, only if each Customer is an affiliate of the other Customers (an “Affiliate”). 

“Affiliate” means an entity controlling, controlled by, or under common control with each Customer. 

Each Customer appoints the Affiliate identified in Schedule A as its agent (the “Agent”) for the purpose of (i) representing it with 

respect to any matter arising under these Service Terms, and (ii) executing and signing any agreements, documents or 

amendments on its behalf (x) in order to effect the transaction or actions contemplated by or (y) related to any matter arising under 

the Service Terms. 




5. Authorized Changes. The Agent with respect to any Customer, may, upon reasonable notice to the Bank and consented to by the 

Bank, authorize additions, deletions or changes to the Schedules, which notice shall extend the representations, acknowledgments and 

terms of these Service Terms to such changes for the affected Customer. 

6. Intercompany Reports. If the Customer selects, as a feature of the Service, the Intercompany Reporting Service feature (the "InterCo 

Feature") provided by the Bank, that selection and affected Customer Accounts shall be specified on Schedule A for the Service. 

Under the InterCo Feature, the Bank will provide the affected Customer with reports, for the Customer Accounts, detailing: (i) a tracking 

of accumulated inter-account balance transfers; and (ii) a calculation of intercompany or intracompany earnings and borrowing 

charges. In addition, the Bank, through the InterCo Feature, will provide the Customer with automated posting, to the affected 

Customer Accounts, of applicable intercompany and intracompany earnings and borrowing charges. 

7. Indemnity. Each Customer, jointly and severally, shall indemnify and hold the Bank harmless from and against any and all claims, 

damages, demands, liabilities, losses, costs and expenses (including reasonable attorneys' fees and claims caused by overdrafts in 

Customer Accounts), arising under these Service Terms, except and to the extent directly caused by the negligence or willful 

misconduct of the Bank. 

8. Set Off. Each Customer agrees that the Bank shall have the unrestricted right, at any time, without notice, to (i) set off, in whole or in 

part, any funds in any Customer Account, against any overdraft in any other Customer Account; and (ii) transfer or otherwise apply, in 

whole or in part, any overdraft in any Customer Account, to any other Customer Account, even if so doing places such other Customer 

Account into or further into an overdraft. 






unless and until terminated. These Service Terms may be terminated by any one Customer with respect to itself, or by the Agent with 

respect to any one Customer, by sending written notice to the Bank. These Service Terms may be terminated by the Agent on behalf 

of all of the Customers by the sending of written notice to the Bank. Any notice of termination sent to the Bank shall only be effective 

when actually received by the Bank and after the Bank shall have a reasonable time to act on such notice. These Service Terms may 

be terminated by the Bank, with respect to any one Customer, or with respect to all Customers, effective immediately upon the sending 

of written notice to the affected Customer or the Agent. 

11. Notices. All notices to the Bank, pertaining to the Service, shall be sent to: JPMorgan Chase Bank, N.A. c/o JPMorgan Treasury 

Technologies Corporation – Liquidity Management Operations, 10420 Highland Manor Drive – 2nd Floor, Tampa, FL 33610. All 

notices to a Customer shall be sent to the Customer's last known address on the Bank's books and records. 

12. Governing Law. These Service Terms, shall be governed by and construed in accordance with the laws of the State of New York, 

without reference to the conflict of laws provisions thereof. 

C. Cross-Border (U.S./U.K.) Cash Concentration Service Terms 

(Single Entity) 

1. Service. JPMorgan Chase Bank, N.A. (the “Bank”) will provide the customer (the “Customer”) with its Cash Concentration Service (the 

"Service") by which the Bank will: (i) automatically transfer funds in the amounts and in accordance with the instructions and selections 

set forth in the service implementation form or schedule for the Service (“Schedule A”) to and/or from the U.S. dollar demand deposit 

account maintained at the Bank in the U.S. and the U.S. dollar deposit account in London which are listed on Schedule A (“Customer 

Accounts”); and (ii) if the Customer selects this feature, the automatic return of such funds to the original deposit account. The 

provisions of the Bank’s account documentation, including terms and conditions governing the operation of accounts and services 

(“Account Documentation”), are incorporated into these Service Terms by reference. Capitalized terms used in these Service Terms, 

unless otherwise defined in these Service Terms, shall have the same meanings as set forth in the Account Documentation. By signing 

the Schedule A for the Service or by using or continuing to use the Service the Customer agrees to these Service Terms. 

2. Accounts. The Customer has or will open the following Customer Accounts, as specified in Schedule A: (i) a U.S. dollar demand 

deposit account on the Bank's books in the U.S. ("US DDA"); and (ii) a U.S. dollar deposit account on the Bank's books in its London 

Branch ("London Account"). 

3. Balances. The Customer shall maintain sufficient balances in the Customer Accounts to cover any amounts scheduled to be 




overdraft. 

4. Acknowledgments. 

(a) 

The Customer acknowledges that deposits held in a branch of the Bank located outside the U.S. are payable exclusively at the 

branch at which the account is held and are not payable in the U.S. Such deposits: (i) are not insured by the Federal Deposit 




Insurance Corporation (the “FDIC”) or any other governmental entity; (ii) are subject to cross-border risks; and (iii) have a lesser 

preference as compared to deposits held in the U.S. in the event of a liquidation of the Bank than U.S. domestic deposits. 

(b) 

The Customer further acknowledges that, notwithstanding anything to the contrary herein, if the Bank becomes aware of any legal 

or regulatory action which, in the Bank's sole opinion, inhibits the operation of the Service then the Bank may suspend the Service 

until the Bank’s concerns are resolved to its satisfaction. 

5. Representations. The Customer represents and warrants: (i) that each Customer Account is not restricted in any way and is owned 

and held outright by the Customer; and (ii) its obligations under these Service Terms are legal, valid and binding, and enforceable on 

accordance with their terms. 

6. Initial Transfers. If, in Schedule A, the Customer selects a one way transfer of funds from the US DDA then the provisions of Section 

6(a) will apply. If, in Schedule A, the Customer selects a one way transfer of funds from the London Account, then the provisions of 

Section 6(b) will apply. If, in Schedule A, the Customer selects a two way transfer of funds, then the provisions of Sections 6(a) and 

6(b) will apply. In all events, the Customer will select, in Schedule A, a target balance for the US DDA (“Target Balance”). The Bank, 

at the close of a banking business day in New York, U.S.A. (“Day 1”) will determine the available balance in the US DDA and make the 

transfers as described below. 

(a) 

(b) 

If the US DDA has positive balances which exceed the Target Balance (“Positive Balance”), then the Bank will transfer an amount, 

in accordance with the selection and instructions on Schedule A, from the US DDA to the London Account, with a debit to the US 

DDA on Day 1, and a credit to the London Account on the next business day in London, value dated Day 1 – if Day 1 is a London 

banking business day, and otherwise on the current banking business day, provided, however, that with respect to U.S. residents, 

as such term is defined in Section 204.2(s) of Regulation D of the Federal Reserve Board, the Bank will only make the transfer to 

the London Account if the amount to be transferred, together with the amount on deposit in the London Account, exceeds US 

$100,000. 

If the US DDA is in an overdraft position or falls short of the Target Balance (collectively, “Short fall Balance”), then the Bank will 

transfer an amount, in accordance with the selection and instructions on Schedule A, from the London Account to the US DDA. 

The London Account will be debited for the entire amount of the Shortfall Balance, even if so doing places the London Account 

into or further into an overdraft. Funds transferred from the London Account to the US DDA will be credited provisionally to the US 

DDA on Day 1, and debited to the London Account on the next banking business day, value dated Day 1. The provisional credit 

will be final following the Bank’s approval of the debit to the London Account. 

7. Authorized Changes. The Customer may, upon reasonable notice to the Bank, and consented to by the Bank, authorize additions, 

deletions or changes to the Schedules, which notice shall extend the representations, acknowledgments and terms of this Service 

Terms to such changes. 

8. Required FDIC Disclosure. In the event of a failure of the Bank, funds transferred as part of a Service will be considered deposits of 

the account in which the funds are held, as reflected on the Bank’s end-of-day ledger balance, by the FDIC after completion of all 

transactions related to the Service and will be insured by the FDIC under its applicable insurance rules and limits. 


unless and until terminated. These Service Terms may be terminated by the Customer by sending written notice to the Bank. Any 

notice of termination sent to the Bank shall only be effective when actually received by the Bank and after the Bank shall have a 

reasonable time to act on such notice. These Service Terms may be terminated by the Bank, effective immediately upon the sending 

of written notice to the Customer. 

10. Notices. All notices to the Bank shall be sent to: JPMorgan Chase Bank, N.A. c/o J.P. Morgan Treasury Technologies Corporation, 

Liquidity Management Operations, 10420 Highland Manor Drive – Bldg 2 – 2nd Floor, Tampa, FL 33610 or such other address 

subsequently specified by the Bank. All notices to the Customer shall be sent to the Customer's last known address on the Bank's 

books and records. 


U.S.A., without reference to the conflict of law provisions thereof. 

D. Cross-Border (U.S./U.K.) Cash Concentration Service Terms 

(Multi Entity) 

1. Service. JPMorgan Chase Bank, N.A. (the “Bank”) will provide the customers (each a “Customer” or collectively the “Customers”) with 

its Cash Concentration Service (the "Service") by which the Bank will: (i) automatically transfer funds in the amounts and in accordance 

with the instructions and selections set forth in the service implementation form or schedule for the Service (“Schedule A”) to and/or 

from the U.S. dollar demand deposit account maintained at the Bank in the U.S. and the U.S. dollar deposit account in London which 

are listed on Schedule A (“Customer Accounts”); and (ii) if the Customer selects this feature, the automatic return of such funds to the 

original deposit account. The provisions of the Bank’s account documentation, including terms and conditions governing the operation 

of accounts and services (“Account Documentation”), are incorporated into these Service Terms by reference. Capitalized terms used 

in these Service Terms, unless otherwise defined in these Service Terms, shall have the same meanings as set forth in the Account 

Documentation. By signing the Schedule A for the Service or by using or continuing to use the Service the Customer agrees to these 

Service Terms. 




2. Accounts. The Customers have or will open the following accounts ("Authorized Accounts"), as specified in Schedule A: (i) a U.S. 

dollar demand deposit account on the Bank's books in the U.S. ("US DDA"); and (ii) a U.S. dollar deposit account on the Bank's books 

in its London Branch ("London Account") 

3. Balances. The Customers shall maintain sufficient balances in the Customer Accounts to cover any amounts scheduled to be 




overdraft. 

4. Acknowledgments. 

(a) 

(b) 

The Customer acknowledges that deposits held in a branch of the Bank located outside the U.S. are payable exclusively at the 

branch at which the account is held and are not payable in the U.S. Such deposits: (i) are not insured by the Federal Deposit 

Insurance Corporation (the “FDIC”) or any other governmental entity; (ii) are subject to cross-border risks; and (iii) have a lesser 

preference as compared to deposits held in the U.S. in the event of a liquidation of the Bank than U.S. domestic deposits. 

The Customer further acknowledges that, notwithstanding anything to the contrary herein, if the Bank becomes aware of any legal 

or regulatory action which, in the Bank's sole opinion, inhibits the operation of the Service then the Bank may suspend the Service 

until the Bank’s concerns are resolved to its satisfaction. 

5. Representations. Each Customer represents and warrants, with respect to itself: (i) that each of its Customer Accounts is not 

restricted in any way, and is owned and held outright by the Customer, and (ii) that its obligations under these Service Terms are legal, 

valid and binding, and enforceable in accordance with their terms. 

6. Initial Transfers. If, in Schedule A, the Customers select a one way transfer of funds from the US DDA then the provisions of Section 

6(a) will apply. If, in Schedule A, the Customers select a one way transfer of funds from the London Account, then the provisions of 

Section 6(b) will apply. If, in Schedule A, the Customers select a two way transfer of funds, then the provisions of Sections 6(a) and 

6(b) will apply. In all events, the Customers will select, in Schedule A, a target balance for the US DDA (“Target Balance”). The Bank, 

at the close of a banking business day in New York, U.S.A. (“Day 1”) will determine the available balance in the US DDA and make the 

transfers as described below. 

(a) 

(b) 

If the US DDA has positive balances which exceed the Target Balance (“Positive Balance”), then the Bank will transfer an amount, 

in accordance with the selection and instructions on the Implementation Form, from the US DDA to the London Account, with a 

debit to the US DDA on Day 1, and a credit to the London Account on the next business day in London, value dated Day 1 – if 

Day 1 is a London banking business day, and otherwise on the current banking business day, provided, however, that if the 

London Account is maintained by a U.S. resident, as such term is defined in Section 204.2(s) of Regulation D of the Federal 

Reserve Board, the Bank will only make the transfer to the London Account if the amount to be transferred, together with the 

amount on deposit in the London Account, exceeds US $100,000. 

If the US DDA is in an overdraft position or falls short of the Target Balance (collectively, “Short fall Balance”), then the Bank will 

transfer an amount, in accordance with the selection and instructions on the Implementation Form, from the London Account to 

the US DDA. The London Account will be debited for the entire amount of the Shortfall Balance, even if so doing places the 

London Account into or further into an overdraft. Funds transferred from the London Account to the US DDA will be credited 

provisionally to the US DDA on Day 1, and debited to the London Account on the next banking business day, value dated Day 1. 

The provisional credit will be final following the Bank’s approval of the debit to the London Account. 

7. Service Requirements. 

(a) 

(b) 

The Bank will provide the Service to the Customers, only if each Customer is an affiliate of the other Customers (an “Affiliate”). 

“Affiliate” means an entity controlling, controlled by, or under common control with each Customer. 

Each Customer appoints the Affiliate identified in Schedule A as its agent (the “Agent”) for the purpose of (i) representing it with 

respect to any matter arising under these Service Terms, and (ii) executing and signing any agreements, documents or 

amendments on its behalf (x) in order to effect the transaction or actions contemplated by or (y) related to any matter arising under 

the Service Terms. 

8. Authorized Changes. The Agent with respect to any Customer, may, upon reasonable notice to the Bank and consented to by the 

Bank, authorize additions, deletions or changes to the Schedules, which notice shall extend the representations, acknowledgments and 

terms of these Service Terms to such changes for the affected Customer. 

9. Indemnity. Each Customer, jointly and severally, shall indemnify and hold the Bank harmless from and against any and all claims, 

damages, demands, liabilities, losses, costs and expenses (including attorneys' fees and claims caused by overdrafts in an Authorized 

Account) arising under these Service Terms, including, without limitation, claims resulting from any breach or alleged breach of any 

representation or warranty hereunder, except, and to the extent, any such claims, damages, demands, liabilities, losses, costs and 

expenses are directly caused by the gross negligence or willful misconduct of the Bank. 

10. Set Off. Each Customer agrees that the Bank shall have the unrestricted right, at any time, without notice, to (i) set off, in whole or in 

part, any funds in any Customer Account, against any overdraft in any other Customer Account; and (ii) transfer or otherwise apply, in 




whole or in part, any overdraft in any Customer Account, to any other Customer Account, even if so doing places such other Customer 

Account into or further into an overdraft. 






unless and until terminated. These Service Terms may be terminated by any one Customer with respect to itself, or by the Agent with 

respect to any one Customer, by sending written notice to the Bank. These Service Terms may be terminated by the Agent on behalf 

of all of the Customers by the sending of written notice to the Bank. Any notice of termination sent to the Bank shall only be effective 

when actually received by the Bank and after the Bank shall have a reasonable time to act on such notice. These Service Terms may 

be terminated by the Bank, with respect to any one Customer, or with respect to all Customers, effective immediately upon the sending 

of written notice to the affected Customer or the Agent. 

13. Notices. All notices to the Bank shall be sent to: JPMorgan Chase Bank, N.A. c/o J.P. Morgan Treasury Technologies Corporation, 

Liquidity Management Operations, 10420 Highland Manor Drive – Bldg 2 -- 2nd Floor, Tampa, FL 33610. All notices to a Customer or 

the Agent shall be sent to the Customer's or the Agent’s, as applicable, last known address on the Bank's books and records. 


U.S.A., without reference to the conflict of law provisions thereof. 




D O M E S T I C C U S T O D Y A G R E E M E N T 

B E T W E E N 

[ C U S T O M E R ] 

A N D 

J P M O R G A N C H A S E B A N K , N . A . 

W O R L D W I D E S E C U R I T I E S S E R V I C E S 

jpmorgan.com 


Domestic Custody Agreement 

November 8, 2011 – General Version (OH) 

Rel Cd [Rel Cd]

TABLE OF CONTENTS 

1. INTENTION OF THE PARTIES; DEFINITIONS ............................................ 1 

1.1 Intention of the Parties ................................................................... 1 

1.2 Definitions; Interpretation ................................................................ 1 

2. WHAT J.P. MORGAN IS REQUIRED TO DO .............................................. 3 

2.1 Set Up Accounts ............................................................................ 3 

2.2 Cash Account ................................................................................ 4 

2.3 Segregation of Assets; Nominee Name ................................................. 5 

2.4 Settlement of Transactions ............................................................... 5 

2.5 Contractual Settlement Date Accounting .............................................. 6 

2.6 Actual Settlement Date Accounting ..................................................... 6 

2.7 Income Collection .......................................................................... 6 

2.8 Miscellaneous Administrative Duties .................................................... 7 

2.9 Corporate Actions .......................................................................... 7 

2.10 Class Action Litigation ..................................................................... 8 

2.11 Proxies ........................................................................................ 8 

2.12 Statements of Account .................................................................... 9 

2.13 Access to J.P. Morgan’s Records ....................................................... 10 

2.14 Tax Reclaims .............................................................................. 10 

2.15 Notification ................................................................................ 10 

3. INSTRUCTIONS ............................................................................. 10 

3.1 Acting on Instructions; Method of Instruction and Unclear Instructions ........ 10 

3.2 Verification and Security Procedures ................................................. 11 

3.3 Instructions Contrary to Law/Market Practice ...................................... 11 

3.4 Cut-Off Times ............................................................................. 11 

3.5 Electronic Access ......................................................................... 11 

4. FEES, EXPENSES AND OTHER AMOUNTS OWING TO J.P. MORGAN ................ 11 

4.1 Fees and Expenses ....................................................................... 11 

4.2 Overdrafts ................................................................................. 12 

4.3 J.P. Morgan’s Right Over Securities; Set-off ........................................ 12 

5. USE OF SECURITIES DEPOSITORIES ..................................................... 12 

6. ADDITIONAL PROVISIONS ................................................................. 13 

6.1 Representations of Customer and J.P. Morgan ...................................... 13 

6.2 Customer to Provide Certain Information to J.P. Morgan ......................... 13 

6.3 Customer is Liable to J.P. Morgan Even if it is Acting for Another Person ..... 13 

6.4 Special Settlement Services ............................................................ 13 


7. WHEN J.P. MORGAN IS LIABLE TO CUSTOMER ....................................... 14 

7.1 Standard of Care; Liability .............................................................. 14 


November 8, 2011 – General Version 

(OH) 

Rel Cd [Rel Cd] 

i

7.2 Force Majeure ............................................................................. 14 

7.3 J.P. Morgan May Consult With Counsel ............................................... 15 

7.4 J.P. Morgan Provides Diverse Financial Services and May Generate Profits as a 

Result ....................................................................................... 15 

7.5 Assets Held Outside J.P. Morgan’s Control .......................................... 15 

7.6 Ancillary Services ......................................................................... 15 

8. TAXATION ................................................................................... 16 

8.1 Tax Obligations ........................................................................... 16 

8.2 Tax Reclaims With Respect to American Depository Receipts.................... 16 

9. TERMINATION .............................................................................. 17 

9.1 Term and Termination ................................................................... 17 

9.2 Exit Procedure ............................................................................ 18 

10. MISCELLANEOUS ........................................................................... 18 

10.1 Notices ..................................................................................... 18 

10.2 Successors and Assigns ................................................................... 18 

10.3 Entire Agreement ......................................................................... 18 

10.4 Insurance ................................................................................... 19 

10.5 Security Holding Disclosure ............................................................. 19 

10.6 USA PATRIOT Act Disclosure ............................................................ 19 

10.7 Governing Law and Jurisdiction ........................................................ 19 

10.8 Severability; Waiver; and Survival .................................................... 20 

10.9 Confidentiality ............................................................................ 20 

10.10 Counterparts .............................................................................. 20 

10.11 No Third Party Beneficiaries ............................................................ 20 

SCHEDULE AND ANNEX ......................................................................... 22 

Schedule 1 Secretary’s Certificate ................................................................ 22 

Annex A Electronic Access ......................................................................... 23 



November 8, 2011 – General Version 

(OH) 


ii

DOMESTIC CUSTODY AGREEMENT 

This agreement (“Agreement”), dated ____________________, 20_____, is between JPMorgan 

Chase Bank, N.A. (“J.P. Morgan”) and [Customer Name] (“Customer”). 

1. INTENTION OF THE PARTIES; DEFINITIONS 

1.1 Intention of the Parties 

(a) 

(b) 

(c) 

This Agreement sets out the terms on which J.P. Morgan will be providing custodial, 

settlement and other associated services to Customer. J.P. Morgan will be 

responsible for the performance of only those duties set forth in this Agreement. 

Customer acknowledges that J.P. Morgan is not providing any legal, tax or 

investment advice in connection with the services under this Agreement. 

It is the intention of the parties that the services offered by J.P. Morgan under this 

Agreement with respect to the custody of Securities and related settlement 

services will be limited to Securities that are issued in the United States (“U.S.”) 

by an issuer that is organized under the laws of the U.S. or any state thereof, or 

that are both traded in the U.S. and eligible for deposit in a U.S. Securities 

Depository. 

1.2 Definitions; Interpretation 

(a) 

As used herein, the following terms have the meaning hereinafter stated. 

“Account” has the meaning set forth in Section 2.1 of this Agreement. 

“Affiliate” means an entity controlling, controlled by, or under common control 

with, J.P. Morgan or Customer, as the case may be. 

“Applicable Law” means any applicable statute, treaty, rule, regulation or 

common law and any applicable decree, injunction, judgment, order, formal 

interpretation or ruling issued by a court or governmental entity. 

“Authorized Person” means any person who has been designated by written 

notice from Customer in the form as provided by J.P. Morgan (or by written notice 

in the form as provided by J.P. Morgan from any agent designated by Customer, 

including, without limitation, an investment manager) to act on behalf of Customer 

under this Agreement and any person who has been given an access code by a 

security administrator appointed by Customer which allows the provision of 

Instructions. Such persons will continue to be Authorized Persons until such time 

as J.P. Morgan receives and has had reasonable time to act upon Instructions from 

Customer (or its agent) that any such person is no longer an Authorized Person. 


“Cash Account” has the meaning set forth in Section 2.1(a)(ii). 

“Confidential Information” means and includes all non-public information concerning 

Customer or the Accounts which J.P. Morgan receives in the course of providing 

services under this Agreement. Nevertheless, the term Confidential Information shall 




1

not include information which is or becomes available to the general public by means 

other than J.P. Morgan’s breach of the terms of this Agreement or information which 

J.P. Morgan obtains on a non-confidential basis from a person who is not known to be 

subject to any obligation of confidence to any person with respect to that information. 

“Corporate Action” means any subscription right, bonus issue, stock repurchase plan, 

redemption, exchange, tender offer, or similar matter with respect to a Financial 

Asset in the Securities Account that requires discretionary action by the beneficial 

owner of the Financial Asset, but does not include rights with respect to class action 

litigation or proxy voting. 

“Entitlement Holder” means the person named on the records of a Securities 

Intermediary as the person having a Securities Entitlement against the Securities 

Intermediary. 

“Financial Asset” means a Security and refers, as the context requires, either to 

the asset itself or to the means by which a person’s claim to it is evidenced, 

including a Security, a security certificate or a Securities Entitlement. “Financial 

Asset” does not include cash. 

“Instruction” means an instruction that has been verified in accordance with a 

Security Procedure or, if no Security Procedure is applicable, which J.P. Morgan 

believes in good faith to have been given by an Authorized Person. 

“J.P. Morgan Indemnitees” means J.P. Morgan, its Affiliates, and their respective 

nominees, directors, officers, employees and agents. 

“Liabilities” means any liabilities, losses, claims, costs, damages, penalties, fines, 

obligations, taxes (other than taxes based solely on J.P. Morgan’s income) or 

expenses of any kind whatsoever (including, without limitation, reasonable 

attorneys’, accountants’, consultants’ or experts’ fees and disbursements). 

“Securities” means shares, stocks, debentures, bonds, notes or other like obligations, 

whether issued in certificated or uncertificated form, and any certificates, receipts, 

warrants or other instruments representing rights to receive, purchase or subscribe 

for the same that are commonly traded or dealt in on securities exchanges or 

financial markets or other obligations of an issuer, or shares, participations and 

interests in an issuer recognized in the country in which it is issued or dealt in as a 

medium for investment and any other property as may be acceptable to J.P. Morgan 

for the Securities Account. 

“Securities Account” means each Securities custody account on J.P. Morgan’s 

records to which Financial Assets are or may be credited under this Agreement. 


“Securities Depository” means any securities depository, dematerialized book entry 

system or similar system for the central handling of Securities. 

“Securities Entitlement” means the rights and property interests of an Entitlement 

Holder with respect to a Financial Asset as set forth in Part 5 of Article 8 of the 

Uniform Commercial Code of the State of Ohio, as the same may be amended from 

time to time. 




2

(b) 

(c) 

(d) 

“Securities Intermediary” means J.P. Morgan, a Securities Depository and any other 

financial institution which in the ordinary course of business maintains Securities 

custody accounts for others and acts in that capacity. 

“Security Procedure” means security procedures to be followed by Customer upon 

the issuance of an Instruction and/or by J.P. Morgan upon the receipt of an 

Instruction, so as to enable J.P. Morgan to verify that such Instruction is authorized, 

as set forth in service level documentation in effect from time to time between the 

parties with respect to the services set forth in this Agreement, or as otherwise 

agreed in writing by the parties. A Security Procedure may, without limitation, 

involve the use of algorithms, codes, passwords, encryption or telephone call backs, 

and may be updated by J.P. Morgan from time to time upon notice to Customer. 

Customer acknowledges that Security Procedures are designed to verify the 

authenticity of, and not detect errors in, Instructions. For the avoidance of doubt, 

the parties agree that a SWIFT message issued in the name of Customer through any 

third party utility agreed upon by the parties as being a method for providing 

Instructions and authenticated in accordance with that utility’s customary procedures 

shall be deemed to be an authorized Instruction. 

Headings are for reference and convenience only and are not intended to affect 

interpretation. 

References to Articles and Sections are to Articles and Sections of this Agreement 

and references to sub-sections and paragraphs are to sub-sections of the Sections 

and paragraphs of the sub-sections in which they appear. 

Unless the context requires otherwise, references in this Agreement to “persons” 

shall include legal as well as natural entities; references importing the singular 

shall include the plural (and vice versa); use of the generic masculine pronoun shall 

include the feminine; use of the term “including” shall be deemed to mean 

“including but not limited to,” and references to appendices and numbered 

sections shall be to such addenda and provisions herein; all such addenda are 

hereby incorporated in this Agreement by reference. 

2. WHAT J.P. MORGAN IS REQUIRED TO DO 

2.1 Set Up Accounts 

(a) 

J.P. Morgan will establish and maintain the following accounts (“Accounts”): 

(i) 

one or more Securities Accounts in the name of Customer (or in another 

name requested by Customer that is acceptable to J.P. Morgan) for 

Financial Assets, which may be held by J.P. Morgan or a Securities 

Depository for J.P. Morgan on behalf of Customer, including as an 

Entitlement Holder; and 


(ii) 

one or more accounts in the name of Customer (or in another name 

requested by Customer that is acceptable to J.P Morgan) (“Cash Account”) 

for any and all cash received by or on behalf of J.P. Morgan for the account 

of Customer. For purposes of clarity, “Account” shall consist of the 

Securities Account and the Cash Account. 




3

(b) 

At the request of Customer, additional Accounts may be opened in the future, and 

such additional Accounts shall be subject to the terms of this Agreement. 

(c) 

(d) 

In the event that Customer requests the opening of any additional Account for the 

purpose of holding collateral pledged by Customer to a securities exchange, 

clearing corporation, or other central counterparty (a “Counterparty”) to secure 

trading activity by Customer, or the pledge to a Counterparty of cash or individual 

Securities held in an Account, that Account (or the pledged cash or Securities) shall 

be subject to the collateral arrangements in effect between J.P. Morgan and the 

Counterparty in addition to the terms of this Agreement. 

J.P. Morgan’s obligation to open Accounts pursuant to Section 2.1(a) is conditional 

upon J.P. Morgan receiving such of the following documents as J.P. Morgan may 

require: 

(i) 

(ii) 

(iii) 

(iv) 

(v) 

2.2 Cash Account 

(a) 

(b) 

a certified copy of Customer's constitutional documents as currently in 

force; 

evidence reasonably satisfactory to J.P. Morgan of the due authorization 

and execution of this Agreement by Customer (for example by a certified 

copy of a resolution of Customer's board of directors or equivalent 

governing body, substantially in the form set out in Schedule 1); 

a letter to open accounts and appoint any investment managers 

substantially in the form as provided by J.P. Morgan; 

for each investment manager appointed, an investment manager 

certification, substantially in the form as provided by J.P. Morgan; and 

in the case of any Account opened in a name not that of Customer, 

documentation with respect to that name similar to that set forth in subsections 

(i) – (iv). 

Any amount standing to the credit of the Cash Account is a debt due to Customer 

from J.P. Morgan as banker. Except as otherwise provided in Instructions 

acceptable to J.P. Morgan, all cash held in the Cash Account will be deposited 

during the period it is credited to the Accounts in one or more deposit accounts at 

J.P. Morgan. 

Any amounts credited by J.P. Morgan to the Cash Account on the basis of a notice 

or an interim credit from a third party, may be reversed if J.P. Morgan does not 

receive final payment in a timely manner. J.P. Morgan will notify Customer 

promptly of any such reversal. 


(c) 

Whenever Customer instructs J.P. Morgan to do so, J.P. Morgan will arrange for the 

automatic investment of cash in the Cash Account in mutual funds (including, 

without limitation, the J.P. Morgan Money Market Funds and any other mutual fund 

with respect to which J.P. Morgan or an Affiliate of J.P. Morgan serves as an 

investment adviser, administrator, shareholder servicing agent, and/or custodian 

or subcustodian, and regardless of whether or not J.P. Morgan or its Affiliate 

receives any fees for services rendered to any such mutual fund in addition to the 




4

fees received by J.P. Morgan pursuant to this Agreement, all of which such fees 

J.P. Morgan is specifically authorized to retain) which J.P. Morgan makes available 

for such purposes and which Customer selects through Instructions to J.P. Morgan. 

Furthermore, in this regard, J.P. Morgan is directed automatically to arrange for 

the redemption of such mutual fund shares as may be necessary to avoid any 

potential overdraft hereunder that J.P. Morgan perceives, based upon the 

information available to J.P. Morgan at the time of such redemption or withdrawal. 

Customer agrees that it will read the prospectus for any mutual fund prior to 

investing and acknowledges that investments in mutual fund shares are not insured 

by the Federal Deposit Insurance Corporation (“FDIC”) and are not obligations of 

or guaranteed by J.P. Morgan. Customer further acknowledges that certain 

services for which J.P. Morgan is paid fees by mutual funds in which Customer 

invests may overlap with the services J.P. Morgan provides under this Agreement. 

2.3 Segregation of Assets; Nominee Name 

(a) 

(b) 

J.P. Morgan will identify in its books that Financial Assets credited to Customer’s 

Securities Account belong to Customer (except as otherwise may be agreed by 

J.P. Morgan and Customer). 

J.P. Morgan is authorized, in its discretion: 

(i) 

(ii) 

(iii) 

(iv) 

2.4 Settlement of Transactions 

to hold in bearer form, such Financial Assets as are customarily held in 

bearer form or are delivered to J.P. Morgan in bearer form; 

to hold Financial Assets in or deposit Financial Assets with any Securities 

Depository or settlement system; 

to hold Financial Assets in omnibus accounts on a fungible basis and to 

accept delivery of Financial Assets of the same class and denomination as 

those deposited with J.P. Morgan; and 

to register in the name of Customer, J.P. Morgan, a Securities Depository, 

or their respective nominees, such Financial Assets as are customarily held 

in registered form. 

Subject to Article 3 and Section 4.2 of this Agreement, J.P. Morgan will act in accordance 

with Instructions with respect to the settlement of transactions. Settlement of 

transactions will be conducted in accordance with prevailing standards of the market in 

which the transaction occurs. Without limiting the generality of the foregoing, Customer 

authorizes J.P. Morgan to deliver Securities or payment in accordance with applicable 

market practice in advance of receipt or settlement of consideration expected in 

connection with such delivery or payment, and Customer acknowledges and agrees that 

such action alone will not of itself constitute negligence, fraud, or willful misconduct of 

J.P. Morgan, and the risk of loss arising from any such action will be borne by Customer. 

In the case of the failure of Customer’s counterparty (or other appropriate party) to 

deliver the expected consideration as agreed, J.P. Morgan will contact the counterparty to 

seek settlement and will notify Customer of such failure. If Customer’s counterparty 

continues to fail to deliver the expected consideration, J.P. Morgan will provide 

information reasonably requested by Customer that J.P. Morgan has in its possession to 

allow Customer to enforce rights that Customer has against Customer’s counterparty, but 





5

J.P. Morgan will not be obliged to institute legal proceedings, file proof of claim in any 

insolvency proceeding or take any similar action. 

2.5 Contractual Settlement Date Accounting 

(a) 

(b) 

J.P. Morgan will effect book entries on a contractual settlement date accounting 

basis as described below with respect to the settlement of transactions in those 

markets where J.P. Morgan generally offers contractual settlement date 

accounting. 

(i) 

(ii) 

Sales: On the settlement date for a sale, J.P. Morgan will credit the Cash 

Account with the proceeds of the sale and, if not already delivered, 

transfer the relevant Financial Assets to an account at J.P. Morgan pending 

settlement of the transaction. 

Purchases: On the settlement date for a purchase (or earlier, if market 

practice requires delivery of the purchase price before the settlement 

date), J.P. Morgan will debit the Cash Account for the settlement amount 

and credit a separate account at J.P. Morgan. J.P. Morgan then will post 

the Securities Account as awaiting receipt of the expected Financial Assets. 

Customer will not be entitled to the delivery of Financial Assets until 

J.P. Morgan actually receives them. 

J.P. Morgan reserves the right to restrict in good faith the availability of 

contractual settlement date accounting for credit or operational reasons. 

J.P. Morgan may reverse any debit or credit made pursuant to Section 2.5(a) prior 

to a transaction's actual settlement, upon notice to Customer, in cases where 

J.P. Morgan reasonably believes that the transaction will not settle in the ordinary 

course within a reasonable time. Customer will be responsible for any costs or 

Liabilities resulting from such reversal. Customer acknowledges that the 

procedures described in Section 2.5 are of an administrative nature, and 

J.P. Morgan does not undertake to make loans and/or Financial Assets available to 

Customer. 

2.6 Actual Settlement Date Accounting 

With respect to any settlement of a transaction that is not posted to the Account on the 

contractual settlement date as referred to in Section 2.5, J.P. Morgan will post such 

transaction on the date on which the cash or Financial Assets received as consideration for 

the transaction is actually received and settled by J.P. Morgan. 

2.7 Income Collection 


(a) 

J.P. Morgan will monitor information publicly available in the applicable market 

about forthcoming income payments on the Financial Assets. 

(b) 

Unless Customer is notified otherwise, J.P. Morgan will credit the Cash Account 

with income and redemption proceeds on Financial Assets on or after the 

anticipated payment date, net of any taxes that are withheld by J.P. Morgan or any 

third party (“Auto Credit”). J.P. Morgan may reverse such credits to Customer if 

J.P. Morgan believes that the corresponding payment will not be received by 

J.P. Morgan within a reasonable period or the credit was incorrect. 




6

(c) 

In markets where J.P. Morgan does not provide an Auto Credit service, income and 

redemption proceeds on Financial Assets, net of any taxes withheld by J.P. Morgan 

or any third party, will be credited only after actual receipt and reconciliation by 

J.P. Morgan. 

(d) 

J.P. Morgan will use reasonable efforts in its discretion to contact appropriate 

parties to collect unpaid interest, dividends or redemption proceeds, but 

J.P. Morgan will not be obliged to file any formal notice of default, institute legal 

proceedings, file proof of claim in any insolvency proceeding or take any similar 

action. 

2.8 Miscellaneous Administrative Duties 

(a) 

(b) 

(c) 

Until J.P. Morgan receives Instructions to the contrary, J.P. Morgan will: 

(i) 

(ii) 

(iii) 

2.9 Corporate Actions 

(a) 

present all Financial Assets for which J.P. Morgan has received notice of a 

call for redemption or that have otherwise matured, and all income and 

interest coupons and other income items that call for payment upon 

presentation; 

execute in the name of Customer such certificates as may be required to 

obtain payment in respect of Financial Assets; and 

exchange interim or temporary documents of title held in the Securities 

Account for definitive documents of title. 

In the event that, as a result of holding Financial Assets in an omnibus account, 

Customer receives fractional interests in Financial Assets arising out of a Corporate 

Action or class action, J.P. Morgan will credit Customer with the amount of cash it 

would have received had the Financial Assets not been held in an omnibus account, 

and Customer shall relinquish to J.P. Morgan its interest in such fractional interests. 

If some, but not all, of an outstanding class of Financial Assets is called for 

redemption, J.P. Morgan may allot the amount redeemed among the respective 

beneficial holders of such a class of Financial Assets on a pro rata basis or in a 

similar manner J.P. Morgan deems fair and equitable. 

J.P. Morgan will act in accordance with local market practice to obtain information 

concerning Corporate Actions that is publicly available in the local market. 

J.P. Morgan also will review information obtained from sources to which 

J.P. Morgan subscribes for information concerning such Corporate Actions. 

J.P. Morgan will promptly provide that information (or summaries that reflect the 

material points concerning the applicable Corporate Action) to Customer or its 

Authorized Person. 


(b) 

J.P. Morgan will act in accordance with Customer’s Instructions in relation to such 

Corporate Actions. If Customer fails to provide J.P. Morgan with timely Instructions 

with respect to any Corporate Action, neither J.P. Morgan nor its nominees will 

take any action in relation to that Corporate Action, except as otherwise agreed in 

writing by J.P. Morgan and Customer or as may be set forth by J.P. Morgan as a 




7

default action in the notification it provides under Section 2.9(a) with respect to 

that Corporate Action. 

2.10 Class Action Litigation 

(a) 

(b) 

(c) 

(d) 

(e) 

(f) 

Any notices received by J.P. Morgan’s corporate actions department about settled 

securities class action litigation that requires action by affected owners of the 

underlying Financial Assets will be promptly notified to Customer if J.P. Morgan, 

using reasonable care in the circumstances, identifies that Customer was a 

shareholder and held the relevant Financial Assets in custody with J.P. Morgan at 

the relevant time. The services set forth in this Section 2.10 are available only in 

certain markets, details of which are available from J.P. Morgan on request. 

J.P. Morgan shall make class action filings on behalf of Customer where, according to 

J.P. Morgan’s records, Customer is eligible to participate. J.P. Morgan will make 

such filings in respect of Customer’s Financial Assets holdings, unless Customer has 

timely directed J.P. Morgan not to file the class action. 

After this Agreement is terminated, J.P. Morgan will continue to make filings in the 

name of Customer in respect to such notices; however, no notification thereof shall 

be sent to Customer. Any proceeds received shall be sent to Customer at Customer’s 

last recorded address. 

By making these filings for Customer, J.P. Morgan is not representing any view in 

relation to any class action, nor is J.P. Morgan making any representation or warrant 

as to the likely outcome of any such class action, participation in which is done 

wholly with Customer’s consent and at Customer’s risk. 

Customer acknowledges that in relation to any securities class action it is 

important that only one claim is filed on Customer’s behalf in respect of a 

custodial holding or securities transaction. If, in the same securities class action, 

multiple claims are submitted on Customer’s behalf for the same custodial holding, 

then all such claims might be rejected by the claims administrator. Therefore, 

where a claim is to be submitted by J.P. Morgan, Customer agrees that no other 

party will submit a claim on Customer’s behalf for the same custodial holding or 

securities transaction in the same securities class action and J.P. Morgan shall have 

no duty to check whether any other claims have been filed by any third party on 

Customer’s behalf in the same securities class action. J.P. Morgan will have no 

responsibility in the event that a claim is rejected on the basis that a duplicate 

claim has been filed by Customer or another party. 

Customer agrees that J.P. Morgan’s annual aggregate liability with respect to losses 

arising out of the class action filings provided under this Agreement (whether for 

breach of contract, tort, or otherwise, but excluding losses caused by fraud on the 

part of J.P. Morgan) that may be incurred during any calendar year shall not exceed 

the lesser of (i) fees paid or payable by Customer under this Agreement during such 

calendar year or (ii) USD 30,000, and that this shall be Customer’s exclusive remedy. 


2.11 Proxies 

(a) 

J.P. Morgan will monitor information distributed to holders of Financial Assets 

about upcoming shareholder meetings, promptly notify Customer or Authorized 




8

Person of such information and, subject to Section 2.11(c), act in accordance with 

Customer’s Instructions in relation to such meetings (the “Proxy Voting Service”). 

(b) 

The Proxy Voting Service is available only in certain markets, details of which are 

available from J.P. Morgan on request. Provision of the Proxy Voting Service is 

conditional upon receipt by J.P. Morgan of any additional documentation that may 

be required for certain markets. 

(c) 

(d) 

The Proxy Voting Service does not include physical attendance at shareholder 

meetings. Requests for physical attendance at shareholder meetings can be made 

but they will be evaluated and agreed to by J.P. Morgan on a case by case basis. 

Customer acknowledges that the provision of the Proxy Voting Service may be 

precluded or restricted under a variety of circumstances. These circumstances 

include, but are not limited to: 

(i) 

(ii) 

(iii) 

(iv) 

(v) 

2.12 Statements of Account 

(a) 

(b) 

the Financial Assets being on loan or out for registration; 

the pendency of conversion or another Corporate Action; 

the Financial Assets being held in a margin or collateral account at 

J.P. Morgan or another bank or broker, or otherwise in a manner which 

affects voting; 

local market regulations or practices, or restrictions by the issuer; and 

J.P. Morgan being required to vote all shares held for a particular issue for 

all of J.P. Morgan’s customers on a net basis (i.e., a net yes or no vote 

based on voting instructions received from all its customers). Where this is 

the case, J.P. Morgan will notify Customer. 

J.P. Morgan will provide Customer with a statement of account for each Account, 

identifying cash and Financial Assets held in the Account and any transfers to and 

from the Account. Statements of account may be delivered electronically or online 

over the Internet in accordance with the agreed-upon frequency for 

statements of account and are deemed delivered when sent electronically or 

posted on the Internet. Customer will review its statement of account and give 

J.P. Morgan written notice of (i) any suspected error or omission or (ii) non-receipt 

of a statement of account within a reasonable time after the statement of account 

is sent or made available to Customer, as the case may be. 

Customer acknowledges that information available to it electronically with respect 

to transactions posted after the close of the prior business day may not be 

accurate due to mis-postings, delays in updating Account records, and other causes. 

J.P. Morgan will not be liable for any loss or damage arising out of any such 

information accessed electronically that is subsequently updated or corrected by 

the close of business on the first business day after the original transaction was 

posted. 





9

2.13 Access to J.P. Morgan’s Records 

(a) 

J.P. Morgan will allow Customer's auditors and independent public accountants 

such reasonable access to the records of J.P. Morgan relating to the Accounts as is 

required in connection with their examination of books and records pertaining to 

Customer's affairs. 

(b) 

2.14 Tax Reclaims 

J.P. Morgan will, upon reasonable written notice, allow Customer reasonable 

access during normal working hours to the records of J.P. Morgan relating to the 

Accounts. J.P. Morgan may impose reasonable restrictions on the number of 

individuals allowed access, the frequency and length of such access, and the scope 

of the records made available. Customer shall reimburse J.P. Morgan for the 

reasonable cost of copying, collating and researching archived information. 

J.P. Morgan will provide tax reclaims as provided in Section 8.2. 

2.15 Notification 

If Customer has agreed to access information concerning the Accounts through 

J.P. Morgan’s website, J.P. Morgan may make any notifications required under this 

Agreement by posting it on the website. 

3. INSTRUCTIONS 

3.1 Acting on Instructions; Method of Instruction and Unclear Instructions 

(a) 

(b) 

(c) 

Customer authorizes J.P. Morgan to accept, rely upon and/or act upon any 

Instructions received by it without inquiry. Customer will indemnify J.P. Morgan 

Indemnitees against, and hold each of them harmless from, any Liabilities that may 

be imposed on, incurred by, or asserted against J.P. Morgan Indemnitees as a 

result of any action or omission taken in accordance with any Instruction. 

To the extent possible, instructions to J.P. Morgan shall be sent via electronic 

instruction or trade information system acceptable to J.P. Morgan or via facsimile 

transmission. In lieu of facsimile transmission, where reasonably practicable, 

Customer will use automated and electronic methods of sending Instructions. 

J.P. Morgan shall promptly notify an Authorized Person if J.P. Morgan determines 

that an Instruction does not contain all information reasonably necessary for 

J.P. Morgan to carry out the Instruction. J.P. Morgan may decline to act upon an 

Instruction if it does not receive clarification or confirmation satisfactory to it. 

J.P. Morgan will not be liable for any loss arising from any reasonable delay in 

carrying out any such Instruction while it seeks information, clarification or 

confirmation or in declining to act upon any Instruction for which it does not 

receive clarification satisfactory to it. 


(d) 

In executing or paying a payment order, J.P. Morgan may rely upon the identifying 

number (e.g., Fedwire routing number or account) of any party as instructed in the 

payment order. Customer assumes full responsibility for any inconsistency 




10

etween the name and identifying number of any party in payment orders issued to 

J.P. Morgan in Customer’s name. 

3.2 Verification and Security Procedures 

(a) 

(b) 

J.P. Morgan and Customer shall comply with any applicable Security Procedures 

with respect to the delivery or authentication of Instructions and shall ensure that 

any codes, passwords or similar devices are reasonably safeguarded. 

Either party may record any of their telephone communications. 

3.3 Instructions Contrary to Law/Market Practice 

J.P. Morgan need not act upon Instructions which it reasonably believes to be contrary to 

law, regulation or market practice and J.P. Morgan shall be under no duty to investigate 

whether any Instructions comply with Applicable Law or market practice. In the event 

J.P. Morgan does not act upon such Instructions, J.P. Morgan will notify Customer where 

reasonably practicable. 

3.4 Cut-Off Times 

J.P. Morgan has established cut-off times for receipt of Instructions, which will be made 

available to Customer. If J.P. Morgan receives an Instruction after its established cut-off 

time, J.P. Morgan will attempt to act upon the Instruction on the day requested if 

J.P. Morgan deems it practicable to do so or otherwise as soon as practicable after that 

day. 

3.5 Electronic Access 

Access by Customer to certain applications or products of J.P. Morgan via J.P. Morgan’s 

web site or otherwise shall be governed by this Agreement and the terms and conditions 

set forth in Annex A. 

4. FEES, EXPENSES AND OTHER AMOUNTS OWING TO J.P. MORGAN 

4.1 Fees and Expenses 

Customer will pay J.P. Morgan for its services under this Agreement such fees as may be 

agreed upon in writing from time to time, together with J.P. Morgan's reasonable 

out-of-pocket or incidental expenses, including, but not limited to, legal fees and tax or 

related fees incidental to processing charged directly or indirectly by governmental 

authorities, issuers, or their agents. Invoices will be payable within thirty (30) days of the 

date of the invoice. If Customer disputes an invoice, it shall nevertheless pay, on or 

before the date that payment is due, such portion of the invoice that is not subject to a 

bona fide dispute. J.P. Morgan may deduct amounts invoiced from the Cash Account 

except to the extent that Customer has objected to the invoice within thirty (30) days of 

the date of the invoice (or such other period as the parties may agree in writing). Without 

prejudice to J.P. Morgan’s other rights, J.P. Morgan reserves the right to charge interest 

on overdue amounts from the due date until actual payment at such rate as J.P. Morgan 

customarily charges for similar overdue amounts. 





11

4.2 Overdrafts 

If a debit to the Cash Account results (or will result) in a debit balance, then J.P. Morgan 

may, in its discretion, (i) advance an amount equal to the overdraft, (ii) refuse to settle in 

whole or in part the transaction causing such debit balance, or (iii) if any such transaction 

is posted to the Securities Account, reverse any such posting. If J.P. Morgan elects to 

make such an advance, the advance will be deemed a loan to Customer, payable on 

demand, bearing interest at the applicable rate charged by J.P. Morgan from time to time, 

for such overdrafts, from the date of such advance to the date of payment (including after 

the date any judgment may be entered against Customer with respect to any overdraft) 

and otherwise on the terms on which J.P. Morgan makes similar overdrafts available from 

time to time. No prior action or course of dealing on J.P. Morgan’s part with respect to 

the settlement of transactions on Customer’s behalf will be asserted by Customer against 

J.P. Morgan for J.P. Morgan’s refusal to make advances to the Cash Account or to settle 

any transaction for which Customer does not have sufficient available funds in the Account. 

Customer shall be deemed to be in default with respect to any such advance upon the 

occurrence of any event of the type specified in section 365(e)(1) of the U.S. Bankruptcy 

Code, as amended from time to time. 

4.3 J.P. Morgan’s Right Over Securities; Set-off 

(a) 

(b) 

Without prejudice to J.P. Morgan’s rights under Applicable Law, J.P. Morgan and 

its Affiliates shall have, and Customer grants to J.P. Morgan a security interest in 

and a lien on the Financial Assets held in the Securities Account and as security for 

any and all Liabilities outstanding from time to time (whether actual or contingent) 

of Customer to J.P. Morgan or any of its Affiliates, and J.P. Morgan shall be 

entitled without notice to Customer, to withhold delivery of such Financial Assets, 

sell or otherwise realize any of such Financial Assets and to apply the proceeds and 

any other monies credited to the Cash Account in satisfaction of such Liabilities. 

Without prejudice to J.P. Morgan’s rights under Applicable Law, J.P. Morgan may 

set off against any Liabilities of Customer to J.P. Morgan or any of its Affiliates any 

amount in any currency standing to the credit of any of Customer’s accounts 

(whether deposit or otherwise) with any J.P. Morgan branch or office or with any 

Affiliate of J.P. Morgan. For this purpose, J.P. Morgan shall be entitled to 

accelerate the maturity of any fixed term deposits. 

5. USE OF SECURITIES DEPOSITORIES 

(a) 

(b) 

J.P. Morgan may deposit Financial Assets with, and hold Financial Assets in any Securities 

Depository on such terms as such Securities Depository customarily operates and Customer 

will provide J.P. Morgan with such documentation or acknowledgements that J.P. Morgan 

may require to hold the Financial Assets in such Securities Depository. 


J.P. Morgan is not responsible for the selection or monitoring of any Securities Depository 

and will not be liable for any act or omission by (or the insolvency of) any Securities 

Depository. In the event Customer incurs a loss due to the negligence, willful misconduct, 

or insolvency of a Securities Depository, J.P. Morgan will make reasonable efforts, in its 

discretion, to seek recovery from the Securities Depository, but J.P. Morgan will not be 

obligated to institute legal proceedings, file proof of claim in any insolvency proceeding, 

or take any similar action. 




12

6. ADDITIONAL PROVISIONS 

6.1 Representations of Customer and J.P. Morgan 

(a) 

(b) 

Customer represents, warrants and covenants that (i) it has full authority and 

power, and has obtained all necessary authorizations and consents, to deposit and 

control the Financial Assets and cash in the Accounts, to use J.P. Morgan as its 

custodian in accordance with the terms of this Agreement, to borrow money (both 

any short term or intraday borrowings in order to settle transactions prior to 

receipt of covering funds) and grant a lien over Financial Assets as contemplated 

by Section 4.3; (ii) assuming execution and delivery of this Agreement by 

J.P. Morgan, this Agreement is Customer’s legal, valid and binding obligation, 

enforceable against Customer in accordance with its terms and it has full power 

and authority to enter into and has taken all necessary corporate action to 

authorize the execution of this Agreement; (iii) it has not relied on any oral or 

written representation made by J.P. Morgan or any person on its behalf, and 

acknowledges that this Agreement sets out to the fullest extent the duties of 

J.P. Morgan; (iv) J.P. Morgan may rely upon the certification of such other facts as 

may be required to administer J.P. Morgan’s obligations under this Agreement and 

Customer shall indemnify J.P. Morgan against all losses, liability, claims or 

demands arising directly or indirectly from any such certifications; and (v) it is a 

resident of the U.S. and shall notify J.P. Morgan of any changes in residency. 

J.P. Morgan represents and warrants that (i) assuming execution and delivery of 

this Agreement by Customer, this Agreement is J.P. Morgan’s legal, valid and 

binding obligation, enforceable against J.P. Morgan in accordance with its terms 

and (ii) it has full power and authority to enter into and has taken all necessary 

corporate action to authorize the execution of this Agreement. 

6.2 Customer to Provide Certain Information to J.P. Morgan 

Upon request, Customer will promptly provide to J.P. Morgan such information about itself 

and its financial status as J.P. Morgan may reasonably request, including Customer’s 

organizational documents and its current audited and unaudited financial statements. 

Upon J.P. Morgan’s request, Customer shall provide to J.P. Morgan such similar 

information concerning any person other than Customer in whose name any Account is 

opened. 

6.3 Customer is Liable to J.P. Morgan Even if it is Acting for Another Person 

If Customer is acting as an agent or for another person as envisaged in Section 2.1(a) in 

respect of any transaction, cash or Financial Asset, J.P. Morgan nevertheless will treat 

Customer as its principal for all purposes under this Agreement. In this regard, Customer 

will be liable to J.P. Morgan as a principal in respect of any transactions relating to the 

Account. The foregoing will not affect any rights J.P. Morgan might have against 

Customer's principal or the other person envisaged by Section 2.1(a). 


6.4 Special Settlement Services 

J.P. Morgan may, but shall not be obliged to, make available to Customer from time to 

time special settlement services (including continuous linked settlement) for transactions 

involving Securities, cash, foreign exchange, and other instruments or contracts. 

Customer shall comply, and shall cause its Authorized Persons to comply, with the 




13

equirements of any external settlement agency through which such settlements may be 

processed, including, without limitation, its rules and by-laws, where applicable. 

7. WHEN J.P. MORGAN IS LIABLE TO CUSTOMER 

7.1 Standard of Care; Liability 

(a) 

(b) 

(c) 

(d) 

J.P. Morgan will use reasonable care in performing its obligations under this 

Agreement. J.P. Morgan will not be in violation of this Agreement with respect to 

any matter as to which it has satisfied its obligation of reasonable care. 

J.P. Morgan will be liable for Customer’s direct damages to the extent they result 

from J.P. Morgan’s fraud, negligence or willful misconduct in performing its duties 

as set out in this Agreement. Nevertheless, under no circumstances will 

J.P. Morgan be liable for any indirect, incidental, consequential or special damages 

(including, without limitation, lost profits) of any form incurred by any person or 

entity, whether or not foreseeable and regardless of the type of action in which 

such a claim may be brought, with respect to the Accounts, J.P. Morgan’s 

performance under this Agreement, or J.P. Morgan’s role as custodian. 

Customer will indemnify the J.P. Morgan Indemnitees against, and hold them 

harmless from, any Liabilities that may be imposed on, incurred by or asserted 

against any of the J.P. Morgan Indemnitees in connection with or arising out of (i) 

J.P. Morgan’s performance under this Agreement, provided the J.P. Morgan 

Indemnitees have not acted with negligence or engaged in fraud or willful 

misconduct in connection with the Liabilities in question or (ii) any J.P. Morgan 

Indemnitees’ status as a holder of record of Customer’s Financial Assets. 

Without limiting Subsections 7.1(a), (b) or (c), Customer agrees that J.P. Morgan 

provides no service in relation to, and therefore has no duty or responsibility to: 

(i) 

(ii) 

(iii) 

(iv) 

question Instructions or make any suggestions to Customer or an Authorized 

Person regarding such Instructions; 

supervise or make recommendations with respect to investments or the 

retention of Financial Assets; 

advise Customer or an Authorized Person regarding any default in the 

payment of principal or income of any Security other than as provided in 

Section 2.7(b) of this Agreement; or 

evaluate or report to Customer or an Authorized Person regarding the 

financial condition of any broker, agent or other party to which J.P. Morgan 

is instructed to deliver Financial Assets or cash. 


7.2 Force Majeure 

J.P. Morgan will maintain and update from time to time business continuation and disaster 

recovery procedures with respect to its custody business that it determines from time to 

time meet reasonable commercial standards. J.P. Morgan will have no liability, however, 

for any damage, loss, expense or liability of any nature that Customer may suffer or incur, 

caused by an act of God, fire, flood, civil or labor disturbance, war, terrorism, act of any 




14

governmental authority or other act or threat of any authority (de jure or de facto), legal 

constraint, fraud or forgery (other than on the part of J.P. Morgan or its employees), 

malfunction of equipment or software (except where such malfunction is primarily and 

directly attributable to J.P. Morgan’s negligence in maintaining the equipment or 

software), failure of or the effect of rules or operations of any external funds transfer 

system, inability to obtain or interruption of external communications facilities, or any 

other cause beyond the reasonable control of J.P. Morgan (including, without limitation, 

the non-availability of appropriate foreign exchange). 

7.3 J.P. Morgan May Consult With Counsel 

J.P. Morgan will be entitled to rely on, and may act upon the advice of professional 

advisers in relation to matters of law, regulation or market practice (which may be the 

professional advisers of Customer), and will not be liable to Customer under this 

Agreement for any action taken or omitted pursuant to such advice. 

7.4 J.P. Morgan Provides Diverse Financial Services and May Generate Profits as a Result 

Customer hereby authorizes J.P. Morgan to act under this Agreement notwithstanding that: 

(a) J.P. Morgan or any of its divisions, branches or Affiliates may have a material interest 

in transactions entered into by Customer with respect to the Account or that 

circumstances are such that J.P. Morgan may have a potential conflict of duty or interest, 

including the fact that J.P. Morgan or its Affiliates may act as a market maker in the 

Financial Assets to which Instructions relate, provide brokerage services to other 

customers, act as financial adviser to the issuer of such Financial Assets, act in the same 

transaction as agent for more than one customer, have a material interest in the issue of 

the Financial Assets; or earn profits from any of the activities listed herein and (b) 

J.P. Morgan or any of its divisions, branches or Affiliates may be in possession of 

information tending to show that the Instructions received may not be in the best interests 

of Customer. J.P. Morgan is not under any duty to disclose any such information. 

7.5 Assets Held Outside J.P. Morgan’s Control 

J.P. Morgan will not be obliged to (a) hold Financial Assets or cash with any person not 

agreed to by J.P. Morgan or (b) register or record Financial Assets in the name of any 

person not agreed to by J.P. Morgan. Furthermore, J.P. Morgan will not be obliged to 

register or record on J.P. Morgan’s records Financial Assets held outside J.P. Morgan’s 

control. If, however, Customer makes any such request and J.P. Morgan agrees to the 

request, the consequences of doing so will be at Customer’s own risk. J.P. Morgan shall 

not be liable for any losses incurred as a result and may be precluded from providing some 

of the services referred to in this Agreement (for example, and without limitation, income 

collection, proxy voting, class action litigation and Corporate Action notification and 

processing). 


7.6 Ancillary Services 

J.P. Morgan may use third party delivery services and providers of information regarding 

matters such as pricing, proxy voting, corporate actions and class action litigation and use 

local agents to provide extraordinary services such as attendance at annual meetings of 

issuers of Securities. Although J.P. Morgan will use reasonable care in the selection and 

retention of such third party providers and local agents, it will not be responsible for any 

errors or omissions made by them in providing the relevant information or services. 




15

8. TAXATION 

8.1 Tax Obligations 

(a) 

Customer will pay or reimburse J.P. Morgan, and confirms that J.P. Morgan is 

authorized to deduct from any cash received or credited to the Cash Account any 

taxes or levies required by any revenue or governmental authority for whatever 

reason in respect of Customer's Accounts. 

(b) Customer will provide to J.P. Morgan such certifications, declarations, 

documentation, and information as it may require in connection with taxation, and 

warrants that, when given, this information is true and correct in every respect, 

not misleading in any way, and contains all material information. Customer 

undertakes to notify J.P. Morgan immediately if any information requires updating 

or correcting. J.P. Morgan provides no service of controlling or monitoring, and 

therefore has no duty in respect of, or liability for any taxes, penalties, interest or 

additions to tax, payable or paid that result from: 

(c) 

(d) 

(i) 

(ii) 

(iii) 

(iv) 

the inaccurate completion of documents by Customer or any third party; 

the provision to J.P. Morgan or a third party of inaccurate or misleading 

information by Customer or any third party; 

the withholding of material information by Customer or any third party; or 

any delay by any revenue authority or any other cause beyond 

J.P. Morgan’s control. 

If J.P. Morgan does not receive appropriate certifications, documentation and 

information then, as and when appropriate and required, additional tax shall be 

deducted from all income received in respect of the Financial Assets issued 

(including, but not limited to, U.S. non-resident alien tax and/or backup 

withholding tax). 

Customer will be responsible in all events for the timely payment of all taxes 

relating to the Financial Assets in the Securities Account; provided, however, that 

J.P. Morgan will be responsible for any penalty or additions to tax due solely as a 

result of J.P. Morgan’s negligent acts or omissions with respect to paying or 

withholding tax or reporting interest, dividend or other income paid or credited to 

the Cash Account. 

8.2 Tax Reclaims With Respect to American Depository Receipts 

(a) 

Subject to the provisions of this Section, J.P. Morgan will apply for a reduction of 

withholding tax in respect of income payments on Financial Assets comprised of 

American Depository Receipts credited to the Securities Account that J.P. Morgan 

believes may be available to Customer. To defray expenses pertaining to nominal 

tax claims, J.P. Morgan may from time to time set minimum thresholds as to a de 

minimis value of tax reclaims which it will pursue in respect of income payments 

under this Section. 


(b) 

The provision of a tax reclamation service by J.P. Morgan is conditional upon 

J.P. Morgan receiving from Customer (i) a declaration of its identity and place of 




16

(c) 

9. TERMINATION 

residence and (ii) certain other documentation (pro forma copies of which are 

available from J.P. Morgan), prior to the receipt of Financial Assets comprised of 

American Depository Receipts in the Account or the payment of income. If 

Financial Assets comprised of American Depository Receipts credited to the 

Account are beneficially owned by someone other than Customer, this information 

will be necessary with respect to the beneficial owner. Customer acknowledges 

that J.P. Morgan will be unable to perform tax reclamation services unless it 

receives this information. 

J.P. Morgan will perform tax reclamation services only with respect to taxation 

levied by the revenue authorities of the countries advised to Customer from time 

to time and J.P. Morgan may, by notification in writing, in its absolute discretion, 

supplement or amend the countries in which this tax reclamation service is offered. 

Other than as expressly provided in this Section 8.2, J.P. Morgan will have no 

responsibility with regard to Customer’s tax position or status in any jurisdiction. 

9.1 Term and Termination 

(a) 

(b) 

The initial term of this Agreement shall be for a period of three years following the 

date on which J.P. Morgan commenced providing services under the Agreement. 

Following the initial term, Customer may terminate this Agreement on sixty (60) 

days' written notice to J.P. Morgan and J.P. Morgan may terminate this Agreement 

on sixty (60) days’ written notice to Customer. 

Notwithstanding Section 9.1(a): 

(i) 

(ii) 

(iii) 

Either party may terminate this Agreement immediately on written notice 

to the other party in the event that a material breach of this Agreement by 

the other party has not been cured within thirty (30) days of that party 

being given written notice of the material breach; 

Either party may terminate this Agreement immediately on written notice 

to the other party upon the other party being declared bankrupt, entering 

into a composition with creditors, obtaining a suspension of payment, being 

put under court controlled management or being the subject of a similar 

measure; 

J.P. Morgan may terminate this Agreement on thirty (30) days’ written 

notice to Customer in the event that J.P. Morgan reasonably determines 

that Customer has ceased to satisfy J.P. Morgan’s customary credit 

requirements; and 


(iv) 

Customer may terminate this Agreement at any time on sixty (60) days’ 

written notice to J.P. Morgan upon payment of a termination fee. The 

termination fee will be an amount equal to six (6) times the average 

monthly fees paid during the six month period prior to Customer’s notice of 

termination, or since the date J.P. Morgan commenced providing services 

under this Agreement if that period is less than six months. 




17

9.2 Exit Procedure 

Customer will provide J.P. Morgan full details of the persons to whom J.P. Morgan must 

deliver Financial Assets and cash within a reasonable period before the effective time of 

termination of this Agreement. If Customer fails to provide such details in a timely 

manner, J.P. Morgan shall be entitled to continue to be paid fees under this Agreement 

until such time as it is able to deliver the Financial Assets and cash to a successor 

custodian, but J.P. Morgan may take such steps as it reasonably determines to be 

necessary to protect itself following the effective time of termination, including ceasing to 

provide transaction settlement services in the event that J.P. Morgan is unwilling to 

assume any related credit risk. J.P. Morgan will in any event be entitled to deduct any 

amounts owing to it prior to delivery of the Financial Assets and cash (and, accordingly, 

J.P. Morgan will be entitled to sell Financial Assets and apply the sale proceeds in 

satisfaction of amounts owing to it). Customer will reimburse J.P. Morgan promptly for all 

out-of-pocket expenses it incurs in delivering Financial Assets upon termination. 

Termination will not affect any of the liabilities either party owes to the other arising 

under this Agreement prior to such termination. 

10. MISCELLANEOUS 

10.1 Notices 

Notices pursuant to Section 9 of this Agreement shall be sent or served by registered mail, 

nationally recognized delivery services, such as Federal Express (FedEx) or United Parcel 

Service (UPS), etc., courier services or hand delivery to the address of the respective 

parties as set out on the signature page of this Agreement, unless notice of a new address 

is given to the other party in writing. 

10.2 Successors and Assigns 

This Agreement will be binding on each of the parties' successors and assigns, but the 

parties agree that neither party can assign any of its rights or obligations under this 

Agreement without the prior written consent of the other party, which consent will not be 

unreasonably withheld or delayed; except J.P. Morgan may assign this Agreement without 

Customer’s consent to (a) any Affiliate or subsidiary of J.P. Morgan or (b) in connection 

with a merger, reorganization, stock sale or sale of all or substantially all of J.P. Morgan’s 

custody business. 

10.3 Entire Agreement 

This Agreement, including the Schedule, Annex and any riders (and any separate 

agreement which J.P. Morgan and Customer may enter into with respect to any Cash 

Account), sets out the entire Agreement between the parties in connection with the 

subject matter hereof, and this Agreement supersedes any other agreement, statement or 

representation relating to custody, whether oral or written. Amendments must be in 

writing and, except where this Agreement provides for amendments by notice from 

J.P. Morgan, signed by both parties. 





18

10.4 Insurance 

Customer acknowledges that J.P. Morgan will not be required to maintain any insurance 

coverage specifically for the benefit of Customer. J.P. Morgan will, however, provide 

summary information regarding its own general insurance coverage to Customer upon 

written request. 

10.5 Security Holding Disclosure 

With respect to Securities and Exchange Commission Rule 14b-2 under the U.S. 

Shareholder Communications Act regarding disclosure of beneficial owners to issuers of 

Securities, J.P. Morgan is instructed not to disclose the name, address or Security positions 

of Customer in response to shareholder communications requests regarding the Account. 

10.6 USA PATRIOT Act Disclosure 

Section 326 of the Uniting and Strengthening America by Providing Appropriate Tools 

Required to Intercept and Obstruct Terrorism Act of 2001 (“USA PATRIOT Act”) requires 

J.P. Morgan to implement reasonable procedures to verify the identity of any person that 

opens a new account with it. Accordingly, Customer acknowledges that Section 326 of the 

USA PATRIOT Act and J.P. Morgan’s identity verification procedures require J.P. Morgan to 

obtain information which may be used to confirm Customer's identity including without 

limitation Customer's name, address and organizational documents (“identifying 

information”). Customer may also be asked to provide information about its financial 

status such as its current audited and unaudited financial statements. Customer agrees to 

provide J.P. Morgan with and consents to J.P. Morgan obtaining from third parties any such 

identifying and financial information required as a condition of opening an account with or 

using any service provided by J.P. Morgan. 

10.7 Governing Law and Jurisdiction 

This Agreement will be construed, regulated and administered under the laws of the U.S. 

or State of Ohio, as applicable, without regard to Ohio’s principles regarding conflict of 

laws, except that the foregoing shall not reduce any statutory right to choose Ohio law or 

forum. The U.S. District Court for the Southern District of Ohio will have the sole and 

exclusive jurisdiction over any lawsuit or other judicial proceeding relating to or arising 

from this Agreement. If that court lacks federal subject matter jurisdiction, the Court of 

Common Pleas, Franklin County, Ohio will have sole and exclusive jurisdiction. Either of 

these courts will have the proper venue for any such lawsuit or judicial proceeding, and 

the parties waive any objection to venue or their convenience as a forum. The parties 

agree to submit to the jurisdiction of any of the courts specified and to accept service of 

process to vest personal jurisdiction over them in any of these courts. The parties further 

hereby knowingly, voluntarily and intentionally waive, to the fullest extent permitted by 

Applicable Law, any right to a trial by jury with respect to any such lawsuit or judicial 

proceeding arising or relating to this Agreement or the transactions contemplated hereby. 

To the extent that in any jurisdiction Customer may now or hereafter be entitled to claim, 

for itself or its assets, immunity from suit, execution, attachment (before or after 

judgment) or other legal process, Customer shall not claim, and it hereby irrevocably 

waives, such immunity. 





19

10.8 Severability; Waiver; and Survival 

(a) 

If one or more provisions of this Agreement are held invalid, illegal or 

unenforceable in any respect on the basis of any particular circumstances or in any 

jurisdiction, the validity, legality and enforceability of such provision or provisions 

under other circumstances or in other jurisdictions and of the remaining provisions 

will not in any way be affected or impaired. 

(b) 

(c) 

10.9 Confidentiality 

(a) 

(b) 

(c) 

Except as otherwise provided herein, no failure or delay on the part of either party 

in exercising any power or right under this Agreement operates as a waiver, nor 

does any single or partial exercise of any power or right preclude any other or 

further exercise, or the exercise of any other power or right. No waiver by a party 

of any provision of this Agreement, or waiver of any breach or default, is effective 

unless it is in writing and signed by the party against whom the waiver is to be 

enforced. 

The parties’ rights, protections, and remedies under this Agreement shall survive 

its termination. 

Subject to Section 10.9(b), J.P. Morgan will hold all Confidential Information in 

confidence and will not disclose any Confidential Information except as may be 

required by Applicable Law, a regulator with jurisdiction over J.P. Morgan’s 

business, or with the consent of Customer. 

Customer authorizes J.P. Morgan to disclose Confidential Information to: 

(i) 

(ii) 

(iii) 

(iv) 

any subcontractor, agent, Securities Depository, securities exchange, 

broker, third party agent, proxy solicitor, issuer, or any other person that 

J.P. Morgan believes it is reasonably required in connection with 

J.P. Morgan’s provision of relevant services under this Agreement; 

its professional advisors, auditors or public accountants; 

its Affiliates and branches; and 

any revenue authority or any governmental entity in relation to the 

processing of any tax reclaim. 

Except as otherwise required by Applicable Law or as needed to enforce the terms 

of this Agreement, the parties shall hold the terms and conditions, including, 

without limitation, any commercial terms, of this Agreement in confidence. 


10.10 Counterparts 

This Agreement may be executed in several counterparts each of which will be deemed to 

be an original and together will constitute one and the same agreement. 

10.11 No Third Party Beneficiaries 

A person who is not a party to this Agreement shall have no right to enforce any term of 

this Agreement. 




20

IN CONSIDERATION OF THE FOREGOING, the parties have caused this Agreement to be executed 

and delivered by their duly authorized officers as of the day and year first above written. 


[Customer] 

By: 

(Signature) 

By: 

(Signature) 

(Printed Name) 


(Date) 

(Printed Name) 


(Date) 

Address: 1111 Polaris Parkway, Suite 3J 

OH1-0634 

Columbus, OH 43240 

Address: [Street Address 1] 

[Street Address 2] 

[City, ST Zip Code] 

Customer’s Tax ID: [Tax ID] 





21

SCHEDULE AND ANNEX 

Schedule 1 

Secretary’s Certificate 

[CUSTOMER] 

Secretary’s Certificate 

The undersigned does hereby certify that he/she is the duly elected and qualified Secretary of 

[Customer] (the “Company”). 

I further certify that the following is a true copy of resolutions duly adopted by the governing body 

(“Board”) of the Company: 

WHEREAS, the Board has reviewed a form of custody agreement (together with the 

schedule, annex and any riders) and ancillary documents provided by JPMorgan Chase 

Bank, N.A. (“J.P. Morgan”) for use in connection with the opening of one or more cash 

and securities accounts and the conduct of such other transactions between the 

Company and J.P. Morgan as referred to therein. The form of custody agreement had 

been reviewed by an officer of the Company, and the indemnities given to J.P. Morgan 

in the custody agreement were noted. The Board considered the form of the custody 

agreement. 

NOW, THEREFORE, IT IS RESOLVED that the Board hereby approves the custody 

agreement (together with the schedule, annex and any riders) and ancillary documents 

completed in the manner and form presented to the Board. 

FURTHER RESOLVED, that J.P. Morgan is appointed as custodian for the Company. 

I further certify that the individuals whose names, titles and specimen signatures appear below are 

duly elected, qualified and acting officers of the Company holding the positions set forth opposite their 

names, that their signatures as set forth below are true and genuine and that they have been duly 

authorized by the Board, in accordance with our By-Laws, to execute the custody agreement, tax 

documents and any related documentation with respect to our custody account(s) with J.P. Morgan. 

Name Title Signature 

IN WITNESS WHEREOF, I have subscribed my name this ________ day of ____________________, 

20_____. 


Secretary 




22

Annex A 

Electronic Access 

1. J.P. Morgan may permit the Customer and its Authorized Persons to access certain electronic 

systems, applications and Data (as defined below) in connection with the Agreement 

(collectively, the “Products”). J.P Morgan may also permit any third party that has been 

designated as a statement recipient by the Customer or an Authorized Person to view account 

information via electronic means. J.P. Morgan may, from time to time, introduce new features 

to the Products or otherwise modify or delete existing features of the Products in its sole 

discretion. J.P. Morgan shall endeavor to give the Customer reasonable notice of its 

termination or suspension of access to the Products, but may do so immediately if J.P. Morgan 

determines, in its sole discretion, that providing access to the Products would violate 

Applicable Law or that the security or integrity of the Products is at risk. Access to the 

Products shall be subject to the Security Procedures. 

2. In consideration of the fees paid by the Customer to J.P. Morgan and subject to any applicable 

software license addendum in relation to J.P. Morgan-owned or sublicensed software provided 

for a particular application and Applicable Law, J.P. Morgan grants to the Customer a nonexclusive, 

non-transferable, limited and revocable license to use the Products and the 

information and data made available through the Products (the “Data”) for the Customer’s 

internal business use only. The Customer may download the Data and print out hard copies for 

its reference, provided that it does not remove any copyright or other notices contained 

therein. The license granted herein will permit use by Customer’s Authorized Person, provided 

that such use shall be in compliance with the Agreement, including this Annex. 

3. The Customer acknowledges that there are security, corruption, transaction error and access 

availability risks associated with using open networks such as the Internet, and the Customer 

hereby expressly assumes such risks. The Customer is solely responsible for obtaining, 

maintaining and operating all software (including antivirus software, anti-spyware software, 

and other Internet security software) and personnel necessary for the Customer to access and 

use the Products. All such software must be interoperable with J.P. Morgan’s software. Each 

of the Customer and J.P. Morgan shall be responsible for the proper functioning, maintenance 

and security of its own systems, services, software and other equipment. 

4. In cases where J.P. Morgan’s web site is unexpectedly down or otherwise unavailable, 

J.P. Morgan shall, absent a force majeure event, provide other appropriate means for the 

Customer or its Authorized Persons to instruct J.P. Morgan or obtain reports from J.P. Morgan. 

J.P. Morgan shall not be liable for any Liabilities arising out of Customer’s use of, access to or 

inability to use the Products via J.P. Morgan’s web site in the absence of J.P. Morgan’s gross 

negligence or willful misconduct. 

5. Use of the Products may be monitored, tracked, and recorded. In using the Products, the 

Customer hereby expressly consents to such monitoring, tracking, and recording. Individuals 

and organizations should have no expectation of privacy unless local law, regulation, or 

contract provides otherwise. J.P. Morgan shall own all right, title and interest in the data 

reflecting Customer usage of the Products or J.P. Morgan’s web site (including, but not limited 

to, general usage data and aggregated transaction data). J.P. Morgan may use and sublicense 

data obtained by it regarding the Customer’s use of the Products or J.P. Morgan’s website, as 

long as J.P. Morgan does not disclose to others that the Customer was the source of such data 

or the details of individual transactions effected using the Products or web site. 


6. The Customer shall not knowingly use the Products to transmit (i) any virus, worm, or 

destructive element or any programs or data that may be reasonably expected to interfere 

with or disrupt the Products or servers connected to the Products; (ii) material that violates 




23

the rights of another, including but not limited to the intellectual property rights of another; 

and (iii) “junk mail”, “spam”, “chain letters” or unsolicited mass distribution of e-mail. 

7. The Customer shall promptly and accurately designate in writing to J.P. Morgan the geographic 

location of its users upon written request. The Customer further represents and warrants to 

J.P. Morgan that the Customer shall not access the service from any jurisdiction which 

J.P. Morgan informs the Customer or where the Customer has actual knowledge that the 

service is not authorized for use due to local regulations or laws, including applicable software 

export rules and regulations. Prior to submitting any document which designates the persons 

authorized to act on the Customer’s behalf, the Customer shall obtain from each individual 

referred to in such document all necessary consents to enable J.P. Morgan to process the data 

set out therein for the purposes of providing the Products. 

8. The Customer will be subject to and shall comply with all applicable laws, rules and regulations 

concerning restricting collection, use, disclosure, processing and free movement of the Data 

(collectively, the “Privacy Regulations”). The Privacy Regulations may include, as applicable, 

the Federal “Privacy of Consumer Financial Information” Regulation (12 CFR Part 30), as 

amended from time to time, issued pursuant to Section 504 of the Gramm-Leach-Bliley Act of 

1999 (15 U.S.C. §6801, et seq.), the Health and Insurance Portability and Accountability Act of 

1996 (42 U.S.C. §1320d), The Data Protection Act 1998 and Directive 95/46/EC of the European 

Parliament and of the Council of 24 October 1995 on the protection of individuals with regard 

to processing of personal data and the free movement of such data. 

9. The Customer shall be responsible for the compliance of its Authorized Persons with the terms 

of the Agreement, including this Annex. 





24




Appendix 14. Sample Account Analysis Invoice




Appendix 15. Insurance Coverage




Insurance Coverage 

A summary of J.P. Morgan’s existing insurance policies, including risks covered and the amount of 

coverage are provided below. J.P. Morgan considers information regarding deductibles on insurance 

policies to be proprietary. However, deductibles are not material in view of the size and financial 

strength of J.P. Morgan. 

Please note that policies contain standard industry policy exclusions. 

Park Assurance is a subsidiary of JPMorgan Chase & Co. None of its shares are held by any of the 

J.P. Morgan entities that would be providing the in-scope services. 

Type/Amount 

Risks Covered 

Financial Institution Bond & Computer Crime (Bankers Blanket Bond Form 24 [Amended]) 

$300,000,000 Loss of money/securities plus other properties resulting from 

employee dishonesty, robbery, burglary, or mysterious disappearance; 

loss of accepting forged or counterfeit checks and securities; a thirdparty 

interloper who accesses a computer or telex communication line 

and modifies or creates a message that results in a loss where 

JPMorgan Chase & Co. is held liable. 

Carriers: 

Park Assurance Company 

Excess Transit & Premises 

$750,000,000 

(excess of Financial Institution 

Bond) 

Carriers: 

Physical loss of securities worldwide on premises and while in transit 

by authorized employees, designated messenger, or recognized 

armored carrier. 

Lloyd’s of London 

Global Property 

$1,750,000,000 Worldwide for 

Property Damage 

$200,000,000 Boiler & 

Machinery 

$500,000,000 Business 

Interruption/Extra Expense 

$50,000,000 Transit 

Carriers: 

All risks of direct physical loss or damage (including flood and 

earthquake) to all real and personal property located anywhere in the 

world except where the U.S. government imposes sanctions which 

prohibit JPMorgan Chase and the insurance company from transacting 

business. 


International Terrorism (excluding U.S., U.K. and France) 

$100,000,000 aggregate (with 

various sub-limits) 

Carriers: 

Insures against direct physical loss or damage caused by an act of 

Terrorism occurring during the policy term to JPMorgan Chase & Co. 

real and personal property located anywhere in the world (as per 

specific locations declared to and on file with the Underwriter), 

including debris removal, business interruption and extra expense. 

Underwriters at Lloyd’s 





Type/Amount 

Risks Covered 

U.S. Terrorism (TRIA) 

$1,500,000,000 Property Insures against all risk of direct physical loss or damage caused by an 

act of Terrorism as defined in the Terrorism Risk Insurance Act of 

2002 (TRIA), and as amended by the Terrorism Risk Insurance 

Extension Act of 2005 (TRIEA) and the Terrorism Risk Insurance 

Program Reauthorization Act of 2007 (TRIPRA), collectively "TRIA", to 

JPMC real and personal property located in the United States, 

including ORE property, mortgage impairment, EDP equipment, boiler 

and machinery, etc. Business interruption and Extra Expense are also 

covered. 

Carriers: 


Workers’ Compensation & Employer’s Liability 

Statutory Workers 

Compensation 

$1,000,000 Employers Liability 

Carriers: 

All compensation and other benefits required by state law and all sums 

the insured is legally obligated to pay because of bodily injury by 

accident or disease. 

Liberty Mutual 

Commercial General Liability 

$5,000,000 combined single 

limit 

Carriers: 

Sums which the insured is obligated to pay due to third-party bodily 

injury and property damage claims arising out of the conduct of the 

insured’s business. 


Business Automobile Liability 

$5,000,000 combined single 

limit 

Carriers: 

Sums which the insured is obligated to pay due to third-party bodily 

injury and property damage claims arising out of the use of owned, 

non-owned and hired vehicles. 


International Casualty 

$5,000,000 Provides primary and excess liability coverage for international 

operations in situations where local coverage (i.e., general, 

automobile, and workers’ compensation) is limited in application 

(primary coverage) or insufficient (excess coverage). 

Carriers: 

Insurance Company of the State of PA 

Directors and Officers Liability (Side A- Non Indemnifiable) 

$300,000,000 Indemnification for loss arising from any claims made against any 

Director or Officer of JPMorgan Chase & Co. and majority owned 

subsidiaries by reason of any alleged wrongful acts (breach of duty, 

neglect, error, misstatement, misleading statements, omission) for 

which JPMorgan Chase & Co. cannot or will not provide 

indemnification. 

Carriers: 

XL Insurance (Bermuda) Ltd. and other companies 

Bankers Professional Liability 

$100,000,000 Bankers Professional Liability coverage indemnifies against loss 

arising from claims of alleged wrongful acts committed in the 

performance of professional services. 

Carriers: 






Type/Amount 

Risks Covered 

Mail and Transit Policy 

$50,000,000 (maximum) All risk mail and transit insurance for all types of securities and other 

valuable property. 

(Level of coverage varies depending on method of transit) 

Carriers: 

Federal Insurance Company 





Appendix 16. Custody Pricing Sources




Pricing Sources 

Pricing activities as well as exceptions are managed by J. P. Morgan’s data management and pricing 

unit located at Columbus, Ohio. 

The following table outlines the sources and frequency of our pricing: 

Type Pricing Service Frequency 

U. S. Equities IDC, Bloomberg Daily 

Over The Counter Equities Bloomberg, External Daily/Monthly 

Mortgage-Backed Securities 

(GNMA, FNMA, FHLMC) 

IDC 

Monthly 

U.S. Corporate Bonds & Notes IDC Daily 

Federal Agencies CMO IDC Monthly 

Federal Agencies Pass Throughs IDC Monthly 

Federal Agency Notes & Bonds IDC Daily 

U.S. Treasury Receipts 

U.S. Treasury Bills 

IDC 

Daily 

U.S. Treasury Strips IDC Daily 

Asset Backed Obligations IDC Monthly 

Discount Agencies IDC Daily 

Unit Investment Trusts IDC, Bloomberg, External Brokers Daily 

Bankers Acceptance System Matrix Stay at Par 

Commercial Paper Par Daily 

Discount Commercial Paper IDC, Matrix Daily 

Mutual Funds IDC, Bloomberg Daily 

Municipal Bonds J.J. Kenny Monthly 

Convertibles, Futures, Options, Rights, 

Warrants 

IDC, External Brokers 

Daily 

Mortgages & Real Estate Real Estate Group Monthly 

Commingled Funds External Brokers Daily/Monthly 

GICs Par Monthly




Type Pricing Service Frequency 

Eurobonds IDC, Bloomberg Daily/Monthly 

Foreign Bonds IDC, Bloomberg Daily/Monthly 

Foreign Mutual Funds IDC, Bloomberg Daily/Monthly 

Foreign Equities IDC, Bloomberg Daily/Monthly 

Private Placements IDC/External Brokers Daily/Monthly 

In case the above preferred pricing sources are unable to provide a viable price either due to lack of 

availability or other issues at a particular point in time, J. P. Morgan would use it’s secondary or 

tertiary sources as appropriate, 

The data management and pricing unit reviews changes beyond industry-recognized tolerances, and 

any other unusual changes in an asset’s price. The pricing unit manager reviews all activity related to 

discrepancies in asset pricing. We maintain a clear protocol with pricing vendors regarding clientinitiated 

pricing challenges. The asset valuations include accrued income and pending transactions.




Appendix 17. Account Reconcilement Program

ARP STANDARD INPUT & OUTPUT SPECIFICATIONS 

POSITION SIZE DATA ELEMENT FIELD TYPE FORMAT/JUSTIFICATION COMMENTS 

Input codes - I = issues , S = stopped items, V = void or cancel items 

Output codes - P = paid items, R = reconciled items, O = outstanding 

One character field which identifies the 

items, S = stopped items, V = void or cancel items, C = 

1 1 Record Type Alpha 

item type as specified to the right 

miscellaneous credit item, D = miscellaneous debit item 

2 1 Filler Alpha Spaces 

3 - 22 20 Account Number Numeric Right Justified/Zero Filled 

The account number field should contain the JPMorgan Chase supplied 

number associated with the account. 


24 - 41 18 Serial/Check Number Numeric Right Justified/Zero Filled 

This field has been maximized to 18 digits for future growth. The current 

ARP system supports serial numbers up to 10 digits in length. The 

remaining 8 digits should contain zeros. 


43 - 60 18 Amount Numeric - 2 Decimal Places Right Justified/Zero Filled 9(16)V99 

The amount field should not contain signed data or decimal points. This 

field has been maximized to 18 digits for future growth. The current 

check processing system supports amount up to 10 digits in length. The 

8 digits should contain zeros. 


62 - 69 8 Issue Date Numeric YYYYMMDD 

The issue date field is used only on input files or output file that are 

processed as a full reconcilement. 


71 - 78 8 Paid Date Numeric YYYYMMDD 

The paid date field is used only with the output files. *Input files should 

contain spaces in this field. 


80 - 94 15 Additional Data Alpha-Numeric Content Specific 

The addl data field is an optional field used by both input and output files. 

It can contain payee information or other important data. *if the field is 

not used it should contain spaces. 

95-144 50 

Expanded Additional 

Data (Payee Name) Alpha-Numeric Content Specific 

145-194 50 2nd Payee Name Alpha-Numeric Content Specific 

195-200 6 Filler Alpha Spaces 

The expanded additional data field is an optional field used by both input 

and output files. It can be used for customer that want more than 15 

characters of additional data on their output files(not reports). Payee 

Name data is placed in these positions for interrogation/verification. *If 

the field is not used is should contain spaces. 

The 2nd payee name field is an optional field used by input files only. It 

can be used for customer that want to use a second payee name. The 

2nd Payee Name data is placed in these positions for 

interrogation/verification. *If the field is not used is should contain 

spaces. 

SAMPLE LAYOUT (RECORD LENGTH 200) NOTE: 200 Record length is for the Input Only to accommodate Payee Name - Output length is 150. 

1 2 3 4 5 6 7 8 9 0 1 2 3 4 5 6 7 8 

12345678901234567890123456789012345678901234567890123456789012345678901234567890123456789012345678901234567890123456789012345678901234567890123456789012345678901234567890123456789012345 

--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------ -------------------------------------------------------------------------------------------------- 

P 000000000000123456789 000000001122334455 000000000000500000 20030514 20030525 Additional Data PAYEE NAME 2nd Payee Name 

P 000000000000123456789 000000001122334455 000000000000500000 20030514 20030525 Additional Data PAYEE NAME 



^------------------------------^ ^------------------------^ ^-------------------------^ ^----------^ ^----------^ ^------------------^ ^------------------------------------------------------------------------^ ^--------------------------------------- 

ACCOUNT SERIAL AMOUNT ISSUE PAID ADDL DATA PAYEE NAME 2nd PAYEE NAME 

Special Notes: 

* Some of the numeric fields may be larger than your system can support. Splitting the fields into two parts and filling the unused portion with zeros may be necessary. 

* All numeric values should be right justified and zero filled.

Appendix 

Reports 

Account Reconcilement Balance Sheet (Full Reconciliation) 

At the end of each cycle, you will receive a reconciliation package including 

reconciled reports for your business checking accounts. The Balance Sheet 

provides a consolidated profile of your checking activity for the reconcilement 

period. 

This example illustrates the information provided on your Deposits Debit 

Reconciliation Report (see form on the following page): 

1 

2 

3 

4 

5 

Account: The company checking account number. 

Account Name: The customer name. 

Balance Forward from previous statement dated mm/dd/yyyy: The 

ending balance from date of last statement. 

Deposits on Reconciliation: The total of all deposits located on Deposit 

on Reconciliation Report. 

Miscellaneous Credits Posted: The total of all credits on Miscellaneous 

Credits Report. 

6 Add Total Credits This Statement Period: The total of deposits 4 

credits 5 for this reconciliation period. 

and 

7 

8 

Checks Paid on Reconcilement: The total of all checks listed on Recap of 

Posted Items Report. 

Miscellaneous Debits Posted: The total of all miscellaneous debits from 

Miscellaneous Debits Report. 

9 Total Debits This Statement Period: The total of all checks 7 

miscellaneous debits 8 for the reconciliation period. 

and all 

10 

11 

Debit Adjustments to Reconcile: The total of debit adjustments typically 

made due to encoding errors, duplicate posted checks, returned 

checks, and MICR line encoding errors. 

Credit Adjustments to Reconcile: The total of credit adjustments made 

due to encoding errors, typically MICR Line Encoding Errors. 

12 

Miscellaneous Adjustments to Reconcile: The total of all other 

adjustments made to accounts not listed as debit or credit 

adjustments. 

Non-Monetary miscellaneous adjustments typically reflect Duplicate 

Issue, Cancel or Stop Deletions, Invalid Issue Amount, Cancel Amount 

or Stop Amount Deletions, Stop On Paid Item, or Cancel On Stopped 

Item. 

13 

14 

15 

Ending Balance: The reconciliation ending balance. 

Bank Statement Ending Balance: The balance on statement for this 

reconciliation period. The balance should match the reconciliation 

ending balance 13 . 

Previous Outstanding Balance: The total of outstanding issues from last 

reconciliation period located on Outstanding Settlement Report. 

JPMorgan Chase & Co. 1 Account Reconciliation Services User Guide

Appendix 

Reports 

16 

17 

18 

19 

20 

21 

22 

Adjustments to Prior Outstanding: The total of all adjustments 

performed to Outstanding issues from last reconciliation period. 

New Issues (net added): The total of new issues submitted and system 

accepted located on Outstanding Settlement Report. 

Canceled Issues: The total of all cancels submitted and system 

accepted located on Outstanding Settlement Report. 

Stopped Issues: The total of all stopped issues located on Outstanding 

Settlement Report (only applicable to accounts electing to have 

stopped issues removed from the outstanding balance). 

Paid Checks Matched to Issues: The total of all reconciled items located 

on Outstanding Settlement Report. 

Current Outstanding Balance: The total of all fields above 

15 - 20 . 

Total Outstanding from Recon Reports: The New Outstanding Balance 

located on Outstanding Settlement Report. The New Outstanding 

balance should match the Current Outstanding Balance 21 . 


Account Reconcilement 

Balance Sheet 

as of mm/dd/yyyy 

1 

2 

Account: 

Account Name: 

___________________________ 

_____________________________________________ 

3 

4 

5 

Balance Forward from previous statement dated mm/dd/yyyy _______________ 

Add total of: 

Deposits on Reconciliation 

_______________+ 

Miscellaneous Credits Posted _______________ + 

6 

7 

8 

9 

Add Total Credits This Statement Period: 

Deduct the total of: 

Checks Paid on Reconcilement _______________ – 

Miscellaneous Debits Posted _______________ – 

Total Debits This Statement Period 

+______________ 

-______________ 

10 

11 

12 

13 

Debit Adjustments to Reconcile 

-______________ 

Credit Adjustments to Reconcile 

+______________ 

Miscellaneous Adjustments to Reconcile ______________ 

Ending Balance 

=______________ 

14 

Bank Statement Ending Balance 

_______________ 

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * 

Outstanding Balance 

15 

16 

17 

18 

19 

20 

21 

Previous Outstanding Balance 

Adjustment to Prior Outstanding 

New Issues (net added) 

Canceled Issues 

Stopped Issues 

Paid Checks Matched to Issues 

Current Outstanding Balance 

+______________ 

+______________ 

-______________ 

-______________ 

-______________ 

=______________ 

22 

Total Outstanding from Recon Reports 

_______________

Appendix 

Reports 

Account Reconcilement Balance Sheet (Partial Reconciliation) 

At the end of each cycle you will receive a reconciliation package including 

reconciled reports for your business checking accounts. The Balance Sheet 

provides a consolidated profile of your checking activity for the reconcilement 

period. This report is prepared by the Bank and is returned to you each period. 

This example illustrates the information provided on your ARP Cover Sheet 

- Partial Reconciliation (see form on the following page): 

1 

2 

3 

4 

5 

Account: The company checking account number. 

Account Name: The customer name. 

Balance Forward from previous statement dated mm/dd/yyyy: The 

ending balance from date of last statement. 

Deposit on Reconciliation: The total of all deposits located on Deposit 

on Reconciliation Report. 

Miscellaneous Credits Posted: The total of all credits on Miscellaneous 

Credits Report. 

6 Add Total Credits This Statement Period: The total of deposits 4 

credits 5 for this reconciliation period. 

and 

7 

8 

Checks Paid on Reconcilement: The total of all checks listed on Recap of 

Posted Items Report. 

Miscellaneous Debits Posted: The total of all miscellaneous debits from 

Miscellaneous Debits Report. 

9 Total Debits This Statement Period: The total of all checks 7 

miscellaneous debits 8 for the reconciliation period. 

and all 

10 

11 

12 

13 

14 

Debit Adjustments to Reconcile: The total of debit adjustments typically 

made due to encoding errors, duplicate posted checks, returned 

checks, and MICR line encoding errors. Refer to page 33 for details. 

Credit Adjustments to Reconcile: The total of credit adjustments made 

due to encoding errors, typically MICR Line Encoding Errors. Refer to 

page 33 for details. 

Miscellaneous Adjustments to Reconcile: The total of all other 

adjustments made to accounts not listed as debit or credit 

adjustments. 

Non-Monetary miscellaneous adjustments typically reflect Duplicate 

Issue, Cancel or Stop Deletions, Invalid Issue Amount, Cancel Amount 

or Stop Amount Deletions, Stop On Paid Item, or Cancel On Stopped 

Item. 

Ending Balance: The reconciliation ending balance. 

Bank Statement Ending Balance: The balance on statement for this 

reconciliation period. The balance should match the reconciliation 

ending balance 13 . 


Appendix 

Reports 

Account Reconcilement 

Balance Sheet 

as of mm/dd/yyyy 

1 Account: ___________________________ 

2 Account Name: _______________________________________________________ 

3 Balance Forward from previous statement dated mm/dd/yyyy: ______________ 

Add total of: 

4 Deposits on Reconciliation ______________+ 

5 Miscellaneous Credits Posted ______________+ 

6 Add Total Credits This Statement Period: +_____________ 

Deduct the total of: 

7 Checks Paid on Reconcilement ______________– 

8 Miscellaneous Debits Posted ______________– 

9 Total Debits This Statement Period –_____________ 

10 Debit Adjustments to Reconcile –_____________ 

11 Credit Adjustments to Reconcile +_____________ 

12 Miscellaneous Adjustments to Reconcile _____________ 

13 Ending Balance =_____________ 

14 Bank Statement Ending Balance ______________ 

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * 


Appendix 

Reports 

Debit Adjustment, Credit Adjustment, and Miscellaneous Adjustment 

Schedules (Full & Partial) 

The Debit Adjustment, Credit Adjustment and Miscellaneous Adjustment 

Schedules may be included in your reconciliation package to provide further 

definition of monetary and non monetary adjustments referenced on the 

Balance Sheet. 

This examples on illustrate the information provided on these schedules 

(see forms on the following page): 

1 

2 

3 

4 

5 

6 

7 

8 

Cutoff Date: Checking account statement ending date 

Date: The date adjustment was made, in Month/Day/Year (mmddyy) 

format 

CHK Num: Check number of item (if applicable) with adjustment 

Explanation: Reason for adjustment 

Amount: Amount of adjustment 

Total Credit Adjustments to Reconciliation: Total amount reflected on 

the Balance Sheet for field 11 . See pages 31-32. 

Total Debit Adjustments to Reconciliation: Total amount reflected on 

the Balance Sheet for field 10 . See pages 31-32. 

Total Misc Adjustments to Reconciliation: These non-monetary 

transactions are reflected on the Balance Sheet in field 12 and equal 0. 

See “Account Reconcilement Balance Sheet - Full Reconciliation” on 

pages 28-29 and “Account Reconcilement Balance Sheet - Partial 

Reconciliation” on page 31. 


Appendix 

Reports 

ACCOUNT RECONCILEMENT 

BALANCE SHEET 

1 AS OF mm/dd/yy 

2 

******************************* Credit adjustments ************************* 

Date 3 CHK Num 4 Explanation 5 Amount 

090402 6536260 ENCODINGERRORPAID=52.74,ADJUSTMENT= 10.00 

090502 8151529 ENCODINGERRORPAID=69.86,ADJUSTMENT= .10 





=============== 

TOTAL ADJUSTMENTS TO RECONCILIATION .....................: 11.31 

6 

******************************** Debit adjustments ************************** 


090302 8151622 NOT YOUR ITEM 101.00 

090302 8151495 DOUBLE POST 100.00 




090902 701041445 RETURN ITEM(STOP) 1,000.00 






================ 

TOTAL ADJUSTMENTS TO RECONCILIATION .....................: 1,205.81 

7 

************************* Miscellaneous adjustments ************************** 


100202 3001309 DELETE DUPLICATE CANCEL=100.00 .00 

100202 0 DELETE DUPLICATE ISSUE(61)=136390.10 .00 

101502 0 DELETE DUPLICATE ISSUE(367)=419356.77 .00 

101502 0 DELETE DUPLICATE CANCEL(10)=3023.33 .00 

101602 2495607 DELETE DUPLICATE STOP=200.00 .00 

101602 12345 ISSUE=50.00,CANCEL=75.00,CANCELDELETED .00 

101602 67890 ISSUE=90.00,PAID=85.00,ISSUEDELETED .00 

101602 49582 ISSUE=60.00,STOP=70.00,STOPDELETED .00 

101602 3029762 STOP DELETED DUE TO PAID ITEM ON FILE .00 

101602 35890 CANCEL DELETED DUE TO STOP ON FILE .00 

================ 

TOTAL ADJUSTMENTS TO RECONCILIATION .....................: 0.00 

8 


Appendix 

Reports 

Recap of Posted Items Report (Full & Partial) 

The Recap of Posted Items Report provides a daily recap of all items posted 

during the reconciliation period. The Recap report also summarizes per day 

the number and amount of issues, stops placed, stops removed, and 

canceled items. The report is printed in sequenced vertically by day. 

This example illustrates the information provided on your Recap of Posted 

Items Report (see form on the following page): 

1 

2 

3 

4 

5 

6 

7 

8 

9 

For Account No.: The company checking account number. 

As Of MM-DD-YY: The reconciliation cut-off date. 

Date: The date the activity occurred. 

Paid items: The item count and the dollar amount of total checks paid. 

Issues: The items count and the dollar amount of total checks issued 

(applies only to full reconciliation). 

Stops Placed: The items count and dollar amount of stop payments 

placed. 

Stops Removed: The items count and dollar amount of stop payments 

removed. 

Cancelled: The items count and dollar amount of checks canceled 

(voided). 

Totals: The reconciliation period totals for each category of the posted 

items. 


R E C A P O F P O S T E D I T E M S 

DATE- 05/26/01 FOR ACCOUNT NO. 001 1 0987654321 2 AS OF 05-26-01 PAGE 1 

3 DATE 4 PAID CHECKS 5 ISSUES 6 STOPS PLACED 7 STOPS REMOVED 8 CANCELLED 

ITEMS AMOUNT ITEMS AMOUNT ITEMS AMOUNT ITEMS AMOUNT ITEMS AMOUNT 

05-01-01 10 1,472.50 .00 1 70.41 .00 .00 

05-02-01 3 32.78 .00 1 160.68 .00 .00 

05-03-01 10 132.76 .00 1 48.50 .00 .00 

05-04-01 4 153.49 .00 .00 .00 .00 

05-05-01 4 272.87 .00 3 202.25 .00 .00 

05-08-01 7 261.64 .00 1 15.49 .00 .00 

05-09-01 8 169.59 .00 .00 .00 1 .00 

05-10-01 8 2,106.98 .00 .00 .00 .00 

05-11-01 1 21.54 .00 .00 .00 .00 

05-12-01 5 154.99 .00 .00 .00 .00 

05-15-01 4 171.60 .00 .00 .00 .00 

05-16-01 4 73.09 .00 3 148.24 .00 .00 

05-17-01 3 97.36 .00 .00 .00 .00 

05-18-01 4 1,405.39 .00 3 56.83 .00 .00 

05-19-01 6 761.16 .00 1 35.57 .00 .00 

05-22-01 5 137.50 .00 .00 .00 .00 

05-23-01 .00 .00 2 125.50 .00 .00 

05-24-01 1 11.75 .00 1 32.72 .00 .00 

05-25-01 5 126.92 .00 .00 .00 .00 

05-26-01 1 62.55 .00 5 365.68 .00 .00 

9 TOTALS 92 7,626.46 .00 22 1,261.87 .00 1 .00

Appendix 

Reports 

Outstanding Settlement Report (Full Only) 

The Outstanding Settlement Report provides the balances pertaining to the 

issue information submitted during the reconcilement period. 

This example illustrates the information provided on your Outstanding 

Settlement Report (see form on the following page): 

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

Account No.: The company checking account number. 

Name: The company name. 

As Of MM-YY-YY: The reconciliation cut-off date. 

Previous Outstanding: The ending outstanding balance from the 

previous reconciliation. 

New Issues: The total amount of new issues added during the current 

reconciliation period. 

Paid-No-Issues: The total amount of checks paid this period for which 

no issues were received. 

Stops Removed: The total amount of stops reversed or expired in the 

current period (if you elected to have your stopped issues removed 

from the outstanding balance). 

Stop Payments: The total amount of stops posted in the current period 

(if you elected to have your stopped issues removed from the 

outstanding balance). 

Cancellations: The total amount of cancels or voids posted in the 

current period. 

Prev PNI Issue Recvd: The issue received for a check paid in a previous 

reconciliation period. 

Prev Stop Issue Recvd: The issue received for a stop payment placed in 

a previous reconciliation period. 

Prev Cancel Iss Recvd: The issue received for a cancellation placed in a 

previous reconciliation period. 

Paid Checks: The checks paid during the current period. 

Prev O/S Deleted: The checks outstanding in a previous period deleted 

during the current period. 

New Outstanding: The ending outstanding check balance for the 

current reconcilement period. 


CRP920053-33 BANK 

OUTSTANDING SETTLEMENT REPORT 

BANK NO. 001 TEAM NO. 003 DATE 6/01/01 

1 ACCOUNT NO. 0987654321 2 XYZ CORPORATION 3 

AS OF 5/31/01 

4 PREVIOUS OUTSTANDING 8,072,794.78 

5 + NEW ISSUES 7,959,232.46 

6 + PAID-NO-ISSUES 2,674,227.89 

7 + STOPS REMOVED .00 

8 - STOP PAYMENTS 74,594.35 

9 - CANCELLATIONS 4,000.00 

10- PREV PNI ISSUE RECVD .00 

11 - PREV STOP ISSUE RECVD .00 

12 - PREV CANCEL ISS RECVD .00 

13 - PAID CHECKS 12,974,892.35 

14 - PREV O/S DELETED .00 

15 NEW OUTSTANDING 5,652,768.43

Appendix 

Reports 

Reconciliation Diagnostic Summary Report (Full & Partial) 

The Reconciliation Diagnostic Summary Report provides an itemized listing 

of all issued and paid check exception items during the reconciliation 

period. 

The following exception conditions are reported: 

• Paid, No Issue (Full) 

• Canceled Item 

• Paid, No Issue, Last Period (Full) 

• Stopped Item 

• Stopped, Check Presented 

• Force Posted Item 

• Previous Paid, No Issue, Issue Received (Full) 

• Previous Cancel, Issue Received (Full) 

This example illustrates the information provided on your Diagnostic 

Summary Report (see form on the following page): 

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

Account No.: The company checking account number. 

Name: The company name. 

Serial Number: The MICR check number. 

Amount: The dollar amount of each check paid, if applicable. 

Paid Date: The date the check was paid, if applicable, or the effective 

date of a canceled (voided) issue or stop payment. 

Seq No.: The bank sequential trace number (for research purposes). 

Issue Date: The date the check was issued (Full only). 

Additional data: additional information submitted on the issue file (Full 

Reconciliation only). 

Page No.: The page number where items appear on the reconcilement 

report. 

Exception Condition: See “Exception Codes” on page 26. 

Total CNT: The total number of exception items. 

Total Amount: The total dollar amount of exception items for each 

category. 


05/31/01 R E C O N C I L I A T I O N D I A G N O S T I C S U M M A R Y PAGE 1 

1 ACCOUNT NO. 001 0987654321 2 XYZ CORPORATION 

3 

SERIAL PAID5 SEQ ISSUE ADDITIONAL PAGE EXCEPTION 

6 7 8 9 10 

NUMBER AMOUNT 4 

DATE NO. DATE DATA NO. CONDITION 

80130 34.14 03-01-01 40727986 04-28-01 1 PREV PD-NO-ISS, ISSUE RECVD 









287505 2.16 10-12-01 34342829 1 PAID, NO ISSUE, LAST PERIOD 

483789 214.66 02-14-01 41274597 2 PAID, NO ISSUE, LAST PERIOD 

529348 66.08 05-25-01 12-15-01 2 STOPPED ITEM 

535260 35.50 03-30-01 12-29-01 2 STOPPED ITEM 

554430 61.03 04-27-01 02-09-01 2 STOPPED ITEM 

558458 249.94 03-30-01 02-23-01 2 STOPPED ITEM 

559435 22.47 04-12-01 02-23-01 2 STOPPED ITEM 

560363 198.86 04-04-01 02-23-01 2 STOPPED ITEM 

11 

TOTAL CNT 12 TOTAL AMOUNT 

PAID, NO ISSUE 0 .00 

VOIDED ITEM 0 .00 

PAID, NO ISSUE, LAST PERIOD 2 216.82 

STOPPED ITEM 6 633.94 

STOPPED, CHECK PRESENTED 0 .00 

FORCE POSTED ITEM 0 .00 

PREV PD-NO-ISS, ISSUE RECVD 9 545.42 

PREV STOP, ISSUE RECEIVED 0 .00 

PREV VOID, ISSUE RECEIVED 0 .00

Appendix 

Reports 

Miscellaneous Credits Report (Full & Partial) 

The Miscellaneous Credits Report lists all credit transactions posted during 

the reconciliation period. Miscellaneous credits include deposits, electronic 

credits, or credit adjustments processed by the bank. Descriptive 

information relative to the item is provided where applicable. 

This example illustrates the information provided on your Miscellaneous 

Credits Report (see form on the following page): 

1 

2 

3 

4 

5 

6 

87 

8 

9 

10 

Bank-No/Account No: The company checking account number 

Customer Name: The company name 

Date: The date of the report and (as of) reconciliation cut-off date 

Serial Number: The serial number of the transaction (if provided on 

deposit slip MICR line) 

Check Amount: The dollar amount of the credit 

Date Issued: The date the credit posted 

Seq. No.: The bank sequential trace number 

Payee Identification: Descriptive information for the transaction 

The total amount of the deposit credit transactions 

The total number of deposit credit transactions 


SMS565C- 31 PAGE 1 

BANK-NO. 0000021 TEAM-NO. 531 RECONCILIATION REPORTS DATE 04-01-02 

ACCOUNT NO. 12345 1 2 

ABC COMPANY REPORT MISC-CREDITS AS OF 03-29-02 

C SERIAL C H E C K A M O U N T DATE DATE SEQ PAYEE C SERIAL C H E C K A M O U N T DATE DATE SEQ PAYEE 

D NUMBER PD/POST O/S PD/PST ISSUED NO. IDENTIFICATION D NUMBER PD/POST O/S PD/PST ISSUED NO. IDENTIFICATION 

9876543210 34,567,890,123.45 03-29-02 456789012345 MISC CREDIT 

4567890123 34,567,890,123.46 03-29-02 456789012346 MISC CREDIT 

4 5 6 7 8 

3 

MISC 69,135,780,246.90 2GT 

9 10 

M = Missing Items EXPLANATION OF CODES 4 = Stop Payment in effect 

1 = Check Paid This Period; No Issue Received 3 = Prior Period Paid No Issue, Not added into Totals 5 = Stop Payment in Effect; Check Presented and Returned 

2 = Check Voided; Issue Removed, Not Added into Totals 6 = Forced Item Duplicate

Appendix 

Reports 

Miscellaneous Debits Report (Full & Partial) 

The Miscellaneous Debits Report lists all debit transactions, other than 

checks, posted during the reconciliation period. 

Miscellaneous debits include adjustments processed by the bank such as 

debit memos, or debit advises and electronic debits to the account, 

including ACH and wire transfer activity. Descriptive information relative to 

the debit is provided where applicable. 

This example illustrates the information provided on your Miscellaneous 

Debits Report (see form on the following page): 

1 

2 

3 

4 

5 

6 

87 

8 

9 

10 




Serial Number: The serial number of the transaction 

Check Amount: The amount of the debit 

Date PD/PST: The date the debit posted 

Seq No: The bank sequential trace number 


Total: The total amount of the deposit debit transactions 

Number: The total number of deposit debit transactions 



3 


ACCOUNT NO. 12345 1 

ABC COMPANY 2 

REPORT MISC-DEBITS AS OF 03-29-02 



1 5.00 03-01-02 456789012340 MISC DEBIT 

1234567890 34,567,890,123.45 03-15-02 456789012376 MISC DEBIT 

4 5 6 7 8 

MISC 34,567,890,128.45 2GT 

9 10 




Appendix 

Reports 

Paid Only Report (Full & Partial) 

The Paid Only Report lists all checks paid during the reconciliation period. 

The standard Paid Only Report is printed in serial number sequence. Serial 

numbers are sequenced vertically. A grand total of paid items is printed at 

the end of the report. 

This example illustrates the information provided on your Paid Only Report 

(see form on the following page): 

1 

2 

3 

4 

5 

6 

87 

8 

9 

910 

11 




Serial Number: The MICR check number 

Check Amount: The dollar amount of the paid check 

Date Paid/Posted: The date the check was paid and posted to the 

account 

Date Issued: The date the check was issued 

Seq No: The bank sequential trace number (provided for research 

purposes) 


Total Paid: The dollar amount of checks paid during the reconciliation 

period 

Total Number: The total number of checks paid during the reconciliation 

period 

Note: 

For Full Account Reconciliation, the paid only report is printed in 

serial number sequence. It includes columns for the issue date and 

payee description or any additional information. 



BANK-NO. 0000021 TEAM-NO. 531 2 

RECONCILIATION REPORTS DATE 04-01-02 


ABC COMPANY REPORT PAID ONLY AS OF 03-29-02 

C SERIAL C H E C K A M O U N T DATE DATE 7 8 SEQ 9 PAYEE C SERIAL C H E C K A M O U N T DATE DATE SEQ PAYEE 


3 

38006 268.38 03-18-02 03-15-02 000031239446 MILLER,BOBBY 

4 38007 700.98 6 03-20-02 03-15-02 000030767035 BONE,DANIEL 

38008 5 429.00 03-18-02 03-15-02 000031220906 MARTIN,PATTY 

38009 437.94 03-15-02 03-15-02 000029246637 ALLEN,SAMUEL 

38010 648.80 03-19-02 03-15-02 000030619938 KENDALL,ALEN 

38011 295.50 03-18-02 03-15-02 000031266599 DRAKE,LOUISA 

38012 327.55 03-18-02 03-15-02 000028733712 DRAKE,TAMMY 

38013 479.92 03-18-02 03-15-02 000031234750 GILBERT,SARA 

38014 445.03 03-18-02 03-15-02 000027591236 KIRBY,DAN 

38015 567.06 03-15-02 03-15-02 000028463827 RANDALL,JOHN 

38016 655.20 03-19-02 03-15-02 000032849441 MORRIS,SHERR 

38017 639.17 03-18-02 03-15-02 000029432365 O'BRIAN,PAUL 

38018 582.27 03-18-02 03-15-02 000031220907 PERRY,ELIZAB 

38020 532.89 03-18-02 03-15-02 000029387947 PERRY,CHRIST 

38021 550.66 03-18-02 03-15-02 000031246674 PORTER,THOMA 

38022 511.52 03-18-02 03-15-02 000029328086 SAMUEL,DENIS 

38023 709.45 03-18-02 03-15-02 000031250133 MARTIN,JENNY 

38024 531.80 03-15-02 03-15-02 000032333437 HURST,RANDAL 

38025 572.02 03-15-02 03-15-02 022092849481 GREEN,CHARLE 

38026 610.63 03-15-02 03-15-02 022092857479 MILLER,SALLY 

38027 583.89 03-19-02 03-15-02 022092021579 STEPHENS,RAY 

38028 573.98 03-19-02 03-15-02 000032849564 COLLER,WENDY 

38029 663.31 03-18-02 03-15-02 000031202114 JANKOWSKI,TE 

38030 394.61 03-19-02 03-15-02 000029701452 ROSS,FRANCES 

38031 187.16 03-19-02 03-15-02 000030626029 WEST,NANCY 

38033 543.93 03-15-02 03-15-02 000032238917 CASTRO,ROBER 

38034 625.76 03-15-02 03-15-02 000029167649 DROVER,RHODA 

38035 369.46 03-15-02 03-15-02 000029155809 FLINT,ANTONI 

38037 286.06 03-19-02 03-15-02 000032008280 HOOPER,TOM 

38038 587.28 03-18-02 03-15-02 000029413521 KING,MARTIN 

38039 553.33 03-18-02 03-15-02 000029430474 RANDALL,BARB 

38040 536.55 03-18-02 03-15-02 000028732388 SANDINE,ANNE 

38041 446.17 03-19-02 03-15-02 000032906414 DAVIS,TERRY 

38042 585.51 03-15-02 03-15-02 000032238916 LAWRENCE,TRA 

38043 43.51 03-15-02 03-15-02 022092867297 REED,WILLIAM 

38044 386.07 03-18-02 03-15-02 000029425534 SUNDAY,VALER 

38045 634.27 03-15-02 03-15-02 022092866967 ZIMMER,GORDE 

1 4567890123 12,345,678,901.23 03-20-02 456789012345 

1 4567890321 99,345,678,901.23 03-20-02 456789012345 

1 4567890322 88,345,678,901.23 03-20-02 456789012345 

10 

PAID 200,037,151,875.49 240GT 

11 




Appendix 

Reports 

Unpaid Only Report (Full Only) 

The Unpaid Only Report lists all outstanding checks and exception items, 

including stops and cancels, as of the end of the reconciliation period. The 

total of outstanding items is printed at the end of the report. 

This example illustrates the information provided on your Unpaid Only 

Report (see form on the following page): 

1 

2 

3 

4 

5 

6 

87878787878787 

8 

9 

10 

11 




Code: The exception item code (see explanation of codes at the bottom 

of report ) 

Check Number: The MICR check number 

Check Amount Paid O/S: The dollar amount of outstanding checks 

Dates in the PD/POST column refer to prior paid dates or stop payment 

dates. 

Date Paid: The date the exception item posted. 

Date Issued: The issue date of the check 

Payee Identification: The payee description or any additional 

information submitted (Full Reconciliation only). 

O/S Total: The total dollar amount of unpaid checks at end of 

reconcilement period. 

O/S Number: The total number of unpaid items. 



BANK-NO. 0000021 TEAM-NO. 531 RECONCILIATION REPORTS 3 DATE 04-01-02 

ACCOUNT NO. 12345 1 ABC COMPANY 2 

REPORT UNPAID ONLY AS OF 03-29-02 



1622 37.22 05-11-01 JOHNSON,MARY 9 

38075 525.01 03-22-02 BROCK,JEROME 

11817 1,226.82 05-30-01 8 

MOORE,FRANCI 38076 505.22 03-22-02 COGAR,SAMUEL 

4 34616 413.30 05-22-01 38077 712.48 03-22-02 EFREMOV,ALEK 

44 

348225 6 454.97 06-07-01 7 

38078 345.27 03-22-02 FENTON,ROBER 

4 35178 456.72 07-12-01 38079 358.54 03-22-02 FENTON,STEVE 

4 35303 280.15 07-31-01 38080 334.13 03-22-02 GIVENS,SANDR 

4 35578 354.70 08-28-01 08-17-01 BAKER,WILLIA 38081 554.77 03-22-02 KIRCHOFF,DAN 

4 35824 274.65 09-10-01 38082 567.05 03-22-02 KOWALSKI,EDW 

4 36150 138.31 10-01-01 09-28-01 BROWN,DAVID 38083 561.04 03-22-02 MORIN,SHERRO 

4 36457 111.47 11-06-01 38084 640.38 03-22-02 O'BRYAN,SHER 

4 37188 374.83 01-02-02 12-28-01 SMITH,DENNIS 38085 451.60 03-22-02 PENA,ERNEST 

4 37198 425.89 01-03-02 12-28-01 WALSH,RICH 38086 571.97 03-22-02 PERRY,TRACEY 

37704 323.49 02-22-02 BROOKS,JERRY 38087 480.39 03-22-02 PETTY,CHARLE 

37789 143.57 02-25-02 MILLER,ALBER 38088 520.01 03-22-02 POUPARD,TODD 

37803 211.11 02-25-02 PIKE,CINDY 38089 426.11 03-22-02 SIMPSON,DENI 

37831 179.40 02-25-02 MURPHY,PHIL 38090 649.63 03-22-02 VICKERS,JERA 

37896 148.63 03-01-02 WOODS,RICH 38091 381.25 03-22-02 ASHENHURST,R 

37977 99.50 03-15-02 RENO,MARIAN 38092 461.58 03-22-02 GASSER,CHARL 

38019 449.40 03-15-02 PORTER,THOMA 38093 569.44 03-22-02 MILLER,MARGA 

38032 746.97 03-15-02 CANTON,PAUL 38094 547.85 03-22-02 STEPHENS,JOH 

38036 487.99 03-15-02 FRANCES,MIKE 38095 590.46 03-22-02 COLEMAN,WAND 

38046 101.26 03-22-02 RENO,MARIAN 38096 595.09 03-22-02 JARCZEWSKI,S 

38047 456.90 03-22-02 BROWN,MARK 38097 576.25 03-22-02 WINDEY,RICH 

38048 263.21 03-22-02 MANTON,RON 38098 414.52 03-22-02 CANNON,PETER 

38049 147.70 03-22-02 NEELY,JO 38099 545.40 03-22-02 CASEY,ROBERT 

38050 696.66 03-22-02 DANIELS,PAUL 38100 552.55 03-22-02 DYER,RHODA A 

38051 477.39 03-22-02 MEAD,LARRY 38101 260.08 03-22-02 FLYNT,ANNETT 

38052 551.51 03-22-02 SANDERS,BARB 38102 603.61 03-22-02 FRAZIER,PENN 

38053 566.92 03-22-02 SHEAN,MARSHA 38103 593.75 03-22-02 HOVIS,TOM D 

38054 980.48 03-22-02 SHARP,PAUL 38104 579.29 03-22-02 KING,JESSE 

38055 491.60 03-22-02 BAKER,HOLLY 38105 615.18 03-22-02 RIOUX,BARBAR 

38056 499.54 03-22-02 BENTON,DOROT 38106 451.61 03-22-02 SANTURE,ANNE 

38057 716.95 03-22-02 COLLIER,DAVE 38107 661.88 03-22-02 DAVIS,STEVE 

38058 754.71 03-22-02 ELLIS,JAMES 38108 566.86 03-22-02 LAYNE,TRACY 

38059 565.52 03-22-02 HALE,HOLLY 38109 259.01 03-22-02 SUMMERS,VALD 

38060 397.97 03-22-02 HILL,WILLIA 38110 614.33 03-22-02 ZOELLNER,GOR 

38061 441.52 03-22-02 JOHNSON,KAY 

38062 630.85 03-22-02 JONES,DELLA O/S 38,966.32 80GT 

38063 643.52 03-22-02 MANDER,ROBER 

10 11 

38064 681.93 03-22-02 MATTHEWS,FAY 

38065 563.49 03-22-02 KINNEY,LISA 

38066 276.39 03-22-02 MOORE,GERALD 

38067 419.92 03-22-02 SANFORD,KATE 

38068 449.37 03-22-02 SANDERS,JIM 

38069 571.39 03-22-02 WRIGHT,SAM 

38070 153.02 03-22-02 CARLSON,JAKE 

38071 702.79 03-22-02 RYDER,WILL 

38072 754.04 03-22-02 MILLER,RAYMO 

38073 305.90 03-22-02 BAYLEY,BILL 

38074 712.45 03-22-02 WILL,DANNY 




Appendix 

Reports 

Consolidated Report (Full & Partial) 

The Consolidated Report lists both unpaid and paid checks for the 

reconciliation period. Full and Range Reconciliation customers may receive 

this report in addition to or in lieu of the Paid and Unpaid Reports. This 

report reflects the status of every check written whether paid, outstanding, 

or assigned a special status such as cancel or stop payment. The standard 

report is printed in serial number sequence. Serial numbers are sequenced 

vertically. 

This example illustrates the information provided on your Consolidated 


1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 





of report) 


Check Amount PD/POST: The dollar amount of each check paid 

Check Amount O/S (outstanding): The dollar amount of each 

outstanding check (Full Reconciliation only) 

Date PD/POST: The date the check was paid and posted to the account 

Date Issued: The issue date of the check (Full Reconciliation only) 

Sequence Number: The processing sequence number of the check 

(used for research purposes) 


information submitted (Full Reconciliation only) 

O/S Total: The total dollar amount of unpaid checks at the end of the 

reconciliation period 

O/S Number: The total number of unpaid items (Full Reconciliation only) 

Total Paid: The total dollar amount of checks paid during the 

reconciliation period 

Number Paid: The total number of checks paid during the reconciliation 

period 



2 


1 

3 

ACCOUNT NO. 12345 ABC COMPANY 11 

REPORT CONSOLIDATED AS OF 03-29-02 

C SERIAL C H E C K A M O U N T DATE DATE 9 10SEQ PAYEE C SERIAL C H E C K A M O U N T DATE DATE SEQ PAYEE 

D NUMBER PD/POST 7 O/S PD/PST ISSUED NO. IDENTIFICATION D NUMBER PD/POST O/S PD/PST ISSUED NO. IDENTIFICATION 

4 1622 5 6 

37.228 

05-11-01 JOHNSON,MARA 37796 200.14 03-04-02 02-25-02 000033174823 MARTIN,PEGGY 

11817 1,226.82 05-30-01 MOORE,FRANCI 37797 184.02 03-05-02 02-25-02 000028176670 MORIN,SHERRO 

12081 154.26 03-04-02 02-25-02 000030168296 HERD,MARLENE 37802 181.34 03-11-02 02-25-02 000028601616 PETTY,CHARLE 

12083 221.64 03-04-02 02-25-02 000029690861 HARPER,ANNET 37803 211.11 02-25-02 PIPER,CYNTHI 

12092 182.35 03-04-02 02-25-02 000030174791 WOOD,THOMAS 37806 186.54 03-04-02 02-25-02 000027553390 SIMPSON,DENI 

12095 195.02 03-04-02 02-25-02 000032809012 CARVER,WAYNE 37810 189.89 03-05-02 02-25-02 000035833170 MILLER,MARGA 

12101 2,470.91 03-04-02 02-28-02 000030035812 PAUL,SAMANT 37813 194.02 03-04-02 02-25-02 000028464949 CECIL,SUSAN 

12103 1,392.23 03-04-02 02-28-02 000030174792 WINSTON,THOM 37814 194.31 03-05-02 02-25-02 000028172195 COLEMAN,WAND 

12105 1,964.63 03-04-02 02-28-02 000028562166 TENBERT,LARR 37816 170.00 03-04-02 02-25-02 000028381698 MONHOLLEN,FR 

12107 1,367.03 03-18-02 03-15-02 000031257344 CARLSON,SALL 37818 189.11 03-19-02 02-25-02 000030582597 WINDEY,RICH 

12108 1,599.03 03-15-02 03-15-02 000028464352 SULLIVAN,TED 37826 179.58 03-04-02 02-25-02 000032681098 FRAZIER,PENN 

12109 2,130.90 03-18-02 03-15-02 000027591597 PARKER,EDWAR 37829 189.89 03-04-02 02-25-02 000028467907 KING,JESSE 

12110 789.90 03-18-02 03-15-02 000028194791 LORENZ,KATHL 1 37830 179.40 03-29-02 654321098765 

12112 1,206.97 03-15-02 03-15-02 022092839906 PRYOR,CYNTHI 37835 159.99 03-11-02 02-25-02 000028821472 ANDREWS,MICH 

12113 1,985.44 03-19-02 03-15-02 000032906350 TAYLOR,BILL 37840 184.37 03-08-02 02-25-02 022092525608 ZOELLNER,GOR 

12114 1,521.42 03-15-02 03-15-02 000028455330 WARD,ELIZABE 37841 81.14 03-11-02 03-01-02 000033450396 RENO,JILLIAN 

4 34616 413.30 05-22-01 37842 260.27 03-06-02 03-01-02 000028520086 BROWN,BETTY 

4 34822 454.97 06-07-01 37843 521.95 03-04-02 03-01-02 000028558643 MANCOS,RONAL 

4 35178 456.72 07-12-01 37844 144.35 03-04-02 03-01-02 000030028895 NEFCY,JOSEPH 

4 35303 280.15 07-31-01 37845 779.14 03-04-02 03-01-02 000028476969 DZIURGOT,PHI 

4 35578 354.70 08-28-01 08-17-01 BAKER,SHIRLE 37846 741.72 03-04-02 03-01-02 000032831098 RISHELL,TIMO 

4 35824 274.65 09-10-01 37847 549.06 03-04-02 03-01-02 000030034898 MEAD,DUANE 

4 36150 138.31 10-01-01 09-28-01 BROWN,LINDA 37848 351.56 03-04-02 03-01-02 000030167839 SANDERS,DANN 

4 36457 111.47 11-06-01 37849 730.26 03-04-02 03-01-02 000028465828 SHEARER,MARS 

4 37188 374.83 01-02-02 12-28-01 SMITH,DENISE 37850 670.53 03-04-02 03-01-02 022092267820 STEIN,PAUL 

4 37198 425.89 01-03-02 12-28-01 WINTERS,RICH 37851 523.88 03-04-02 03-01-02 000035479633 BAKER,SANDRA 

37676 98.32 03-07-02 02-22-02 000035653859 RENFORD,CYNT 37852 341.64 03-04-02 03-01-02 000030042686 BENTLEY,DORO 

37704 323.49 02-22-02 BROCK,JAKE 37854 723.04 03-05-02 03-01-02 000035001069 ELLIOTT,JAME 

37771 194.31 03-04-02 02-25-02 000035414616 SOLMAN,JENNI 37871 244.83 03-07-02 03-01-02 000028057151 BONE,DANIEL 

37773 189.11 03-04-02 02-25-02 000029646656 WRIGHT,LARRY 37872 537.21 03-04-02 03-01-02 000029641368 BROCK,JEROME 

38014 445.03 03-18-02 03-15-02 000027591236 KIRBY,DAVID 38064 681.93 03-22-02 MATUSIEWICZ, 

38021 550.66 03-18-02 03-15-02 000031246674 PORTER,TOM 38071 702.79 03-22-02 RYMER,JEFF 

38022 511.52 03-18-02 03-15-02 000029328086 SIMPSON,MARK 38072 754.04 03-22-02 YEBOAH,RAYMO 

38023 709.45 03-18-02 03-15-02 000031250133 VICKS,JESSIC 38073 305.90 03-22-02 BASLEY,TABAT 

38024 531.80 03-15-02 03-15-02 000032333437 ASHE,RONALD 38074 712.45 03-22-02 BONE,DANIEL 

38025 572.02 03-15-02 03-15-02 022092849481 GASTON,CHARL 38075 525.01 03-22-02 BROCK,JEROME 

38026 610.63 03-15-02 03-15-02 022092857479 MILLER,PHILI 38076 505.22 03-22-02 COGAR,SAMUEL 

38033 543.93 03-15-02 03-15-02 000032238917 CASE,WILLIAM 38083 561.04 03-22-02 MORIN,SHERRO 

38034 625.76 03-15-02 03-15-02 000029167649 DOVER,RHONDA 38084 640.38 03-22-02 O'BRYAN,SHER 

38035 369.46 03-15-02 03-15-02 000029155809 FLAGG,ANN 38085 451.60 03-22-02 PENA,ERNEST 

38036 487.99 03-15-02 FRANKS,PENNY 38086 571.97 03-22-02 PERRY,TRACEY 

38037 286.06 03-19-02 03-15-02 000032008280 HOMER,TOMMY 38087 480.39 03-22-02 PETTY,CHARLE 

38089 426.11 03-22-02 SIMS,DIANE 

38110 614.33 03-22-02 ZOPP,GORDON 

1 4567890123 12,345,678,901.23 03-20-02 456789012345 

1 4567890321 99,345,678,901.23 03-20-02 456789012345 

1 4567890322 88,345,678,901.23 03-20-02 456789012345 

O/S 38,966.32 80GT PAID 200,037,151,875.49 240GT 

12 

13 14 15 




Appendix 

Reports 

Paid-No-Issue Report (Full & Partial) 

The Paid-No-Issue Report lists separately all the current and prior period 

paid items with no corresponding issue information on file. Items will 

remain on the report until issue information is submitted. The Bank can 

generate a Paid-No-Issue Report upon request. 

This example illustrates the information provided on your Paid-No-Issue 


Note: 

This data is also included with other exceptions on the 

Reconciliation Diagnostic Summary report. 

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 




Code: The exception item code. See “Exception Codes” on page 26). 

Check Number: The MICR check number 

Amount Pd/Post: The dollar amount of each check 

Date Pd/Pst: The date the check was paid 

Date Issued: The issue date of the check (This field will be blank as this 

report lists checks we have paid without an issue record.) 

Seq No: The bank sequential trace number (for research purposes). 

Payee identification: The payee description or additional information 

submitted (Full Reconciliation only). 

Total Amount: The total dollar amount of paid-no-issue items. 

Total Number: The total number of paid-no-issue items. 



BANK-NO. 0000021 TEAM-NO. 531 2 RECONCILIATION REPORTS 3DATE 04-01-02 


ABC COMPANY REPORT PD NO ISSUE AS OF 03-29-02 


D 4 NUMBER PD/POST O/S PD/PST ISSUED NO. IDENTIFICATION D NUMBER PD/POST O/S PD/PST ISSUED NO. IDENTIFICATION 

1 37830 179.40 03-29-028 

65432109876510 

1 4567890123 12,345,678,901.23 03-20-02 456789012345 

1 4567890321 99,345,678,901.23 03-20-02 456789012345 

1 4567890322 88,345,678,901.23 03-20-02 456789012345 

5 6 7 

9 

PREV 0.00 0GT CURR 200,037,036,883.09 4GT 

11 12 




Appendix 

Reports 

Unmatched Reconciliation Report (Full Only) 

The Unmatched Reconciliation Report lists all unmatched paid and issued 

items (outstanding checks and paid-no-issues) as of the reconciliation 

period date in amount sequence. 

This example illustrates the information provided on your Unmatched 


1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 





Check Amount: The dollar amount of each check paid (listed in PD/Post 

column) or outstanding (listed in the O/S column) 

Date PD/Post: The date the check was paid and posted to the account 

(when applicable) 

Date Issued: The date the check was issued (when applicable) 

Seq No: The bank sequential trace number (for research purposes) 


information for the transaction 

The total amount of unmatched outstanding transactions 

The total number of unmatched outstanding transactions 

The total amount of unmatched paid transactions 

The total number of unmatched paid transactions 



3 

BANK-NO. 0000021 1 TEAM-NO. 531 RECONCILIATION REPORTS DATE 04-01-02 

ACCOUNT NO. 12345 2 ABC COMPANY 7 8 9 

REPORT UNMATCH AMT AS OF 03-29-02 



4 5 

1622 37.22 6 05-11-01 JOHNSON,MARY 38069 571.39 03-22-02 WRIGHT,KEVIN 

37977 99.50 03-15-02 KENTON,JILL 38086 571.97 03-22-02 PERRY,TRACEY 

38046 101.26 03-22-02 KENTON,JILL 38097 576.25 03-22-02 WINDEY,RICH 

37789 143.57 02-25-02 MORRIS,ALEXA 38104 579.29 03-22-02 KING,JESSE 

38049 147.70 03-22-02 NANCY,JOSIE 38095 590.46 03-22-02 COLEMAN,WAND 

37896 148.63 03-01-02 WINTER,RICH 38103 593.75 03-22-02 HOVIS,TOM D 

38070 153.02 03-22-02 CARLSON,MARK 38096 595.09 03-22-02 JARCZEWSKI,S 

37830 179.40 03-29-02 WALTON,SANDY 38102 603.61 03-22-02 FRAZIER,PENN 

37831 179.40 02-25-02 MURPHY,MARIS 38110 614.33 03-22-02 ZOELLNER,GOR 

38109 259.01 03-22-02 SUMMERS,DIAN 38105 615.18 03-22-02 RIOUX,BARBAR 

38101 260.08 03-22-02 FRANK,ANN 38062 630.85 03-22-02 JONES,DEBORA 

38048 263.21 03-22-02 MANTON,MARY 38084 640.38 03-22-02 O'BRYAN,SHER 

38066 276.39 03-22-02 MOORE,GERALD 38063 643.52 03-22-02 MANCOS,RONAL 

38073 305.90 03-22-02 BEASLEY,BREN 38090 649.63 03-22-02 VICKERS,JERA 

37704 323.49 02-22-02 BROCK,CHARLE 38107 661.88 03-22-02 DAVIS,STEVE 

38080 334.13 03-22-02 SIMMS,SANDRA 38064 681.93 03-22-02 MATUSIEWICZ, 

38078 345.27 03-22-02 FOSTER,JOSEP 38050 696.66 03-22-02 DZIURGOT,PHI 

38079 358.54 03-22-02 FOSTER,JEFFR 38071 702.79 03-22-02 RYMER,JEFF 

38091 381.25 03-22-02 HURST,RICHAR 38074 712.45 03-22-02 BONE,DANIEL 

38060 397.97 03-22-02 HILL,BETH J 38077 712.48 03-22-02 EFREMOV,ALEK 

38098 414.52 03-22-02 CANNON,PAUL 38057 716.95 03-22-02 COLLINS,DAWN 

38067 419.92 03-22-02 SANDERS,BARB 38032 746.97 03-15-02 CANNON,PETER 

38089 426.11 03-22-02 SIMPSON,JOHN 38072 754.04 03-22-02 YEBOAH,RAYMO 

38061 441.52 03-22-02 JOHNSON,FRAN 38058 754.71 03-22-02 ELLIOTT,JAME 

38068 449.37 03-22-02 SANDERS,JESS 38054 980.48 03-22-02 STEIN,PAUL 

38019 449.40 03-15-02 PERRY,MATTHE 11817 1,226.82 05-30-01 NM6MOORE,CHERYL 

38085 451.60 03-22-02 PPICE,BETTY 1 4567890123 12,345,678,901.23 03-20-02 456789012345 

38106 451.61 03-22-02 SANFORD,ANNE 1 4567890322 88,345,678,901.23 03-20-02 456789012345 

38047 456.90 03-22-02 BROWN,JENNY 1 4567890321 99,345,678,901.23 03-20-02 456789012345 

38092 461.58 03-22-02 GARBER,CHARL 

38051 477.39 03-22-02 MEAD,PAULA O/S 37,461.48 75GT PAID 200,037,036,883.09 

38087 480.39 03-22-02 PENNY,CHRIST 

10 11 

12 

4GT 

38036 487.99 03-15-02 FRANKS,PERRY 

13 

38055 491.60 03-22-02 BAKER,SAM 

38056 499.54 03-22-02 BENNEY,DOROT 

38076 505.22 03-22-02 COOK,SAMUEL 

38088 520.01 03-22-02 PORTER,TOMMY 

38075 525.01 03-22-02 BROOKS,JEN 

38099 545.40 03-22-02 CASPER,ROB 

38094 547.85 03-22-02 STEPHENS,JAY 

38052 551.51 03-22-02 SANDERSON,BA 

38100 552.55 03-22-02 DOVER,RHONDA 

38081 554.77 03-22-02 KIRBY,DANIEL 

38083 561.04 03-22-02 MORRIS,SALLY 

38065 563.49 03-22-02 KINNEY,LISA 

38059 565.52 03-22-02 HALE,HOLLY 

38108 566.86 03-22-02 LAKE,TERESA 




Appendix 

Reports 

Stop Reconciliation Report (Full & Partial) 

The Stop Reconciliation Report lists all stops on file for an account as of the 

reconciliation period date. 

This example illustrates the information provided on your Stop 


1 

2 

3 

4 

5 

6 

7 

8 

9 

10 




Code: The exception item code (see explanation of codes at bottom of 

report) 

Serial Number: The MICR check number of the stopped transaction 

Check Amount O/S: The dollar amount of each check 

Date Pd/Pst: The date the stop payment was posted to the account 

Date Issued: The date the check was issued (Full Reconciliation only) 

Payee identification: The payee description or additional information 

submitted (Full Reconciliation only) 

Totals: The total amount and number of stopped items 



BANK-NO. 0000021 TEAM-NO. 531 RECONCILIATION REPORTS 3 DATE 04-01-02 


ABC COMPANY REPORT STOP REPORT AS OF 03-29-02 

C SERIAL C H E C K A M O U N T DATE 2 DATE SEQ PAYEE C SERIAL C H E C K A M O U N T DATE DATE SEQ PAYEE 


4 34616 413.30 05-22-01 

4 34822 454.97 06-07-01 

4 4 35178 456.72 07-12-01 

4 35303 280.15 07-31-01 

4 35578 354.70 08-28-01 08-17-01 BAKER,SAM 

4 35824 274.65 09-10-01 

4 36150 6 138.31 10-01-01 09-28-01 BROWN,MARY 

4 36457 5 

111.47 11-06-01 

4 37188 374.83 01-02-02 12-28-01 MANTON,JOHN 

4 37198 425.89 01-03-02 12-28-01 WINTERS,BOB 

7 8 

TOTAL 3,284.99 10GT 

10 

9 




Appendix 

Reports 

Aged Issues Report (Upon Request) 

The Aged Issue Report is an optional report that lists outstanding issues on 

file for an account that were issued prior to a specific date (customer 

defined). The report is used to identify aged issue items. 

This example illustrates the information provided on your Aged Issue 


1 

2 

3 

4 

5 

6 

7 

8 

9 

10 





of report) 

Serial Number: The MICR check number of the transaction 

Check Amount O/S: The dollar amount of each outstanding issue 

Date Issued: The date the check was issued 

Payee Identification: The payee description or additional information 

submitted (Full Reconciliation only) 

Total O/S Amount: The total dollar amount of aged issues. 

Total O/S Number: The total number of aged issues. 



2 

3 


1 

ACCOUNT NO. 12345 ABC COMPANY REPORT AGED ISSUES AS OF 03-29-02 



1622 37.22 05-11-01 JOHNSON,SID 38086 571.97 03-22-02 PERRY,TRACEY 

4 5 6 

7 8 

11817 1,226.82 05-30-01 MOORE,MARTHA 38087 480.39 03-22-02 PETTY,CHARLE 

37704 323.49 02-22-02 BROOKS,JERRY 38088 520.01 03-22-02 POUPARD,TODD 

37789 143.57 02-25-02 ALBERTS,ALAN 38089 426.11 03-22-02 SIMPSON,DENI 

37831 179.40 02-25-02 MURPHY,DAN 38090 649.63 03-22-02 VICKERS,JERA 

37896 148.63 03-01-02 WINTERS,RAY 38091 381.25 03-22-02 ASHENHURST,R 

37977 99.50 03-15-02 RENTON,JILL 38092 461.58 03-22-02 GASSER,CHARL 

38019 449.40 03-15-02 PENNY,TRISH 38093 569.44 03-22-02 MILLER,MARGA 

38032 746.97 03-15-02 CANNON,PAUL 38094 547.85 03-22-02 STEPHENS,JOH 

38036 487.99 03-15-02 FRANCES,PEGG 38095 590.46 03-22-02 COLEMAN,WAND 

38046 101.26 03-22-02 RENTON,JILL 38096 595.09 03-22-02 JARCZEWSKI,S 

38047 456.90 03-22-02 BROWN,SALLY 38097 576.25 03-22-02 WINDEY,RICH 

38048 263.21 03-22-02 MANTON,JAMES 38098 414.52 03-22-02 CANNON,PETER 

38049 147.70 03-22-02 NORRIS,JOHN 38099 545.40 03-22-02 CASEY,ROBERT 

38050 696.66 03-22-02 DANIELS,PHIL 38100 552.55 03-22-02 DYER,RHODA A 

38051 477.39 03-22-02 MEAD,DONNA 38101 260.08 03-22-02 FLYNT,ANNETT 

38052 551.51 03-22-02 SANFORD,DANI 38102 603.61 03-22-02 FRAZIER,PENN 

38053 566.92 03-22-02 SHEARS,MARK 38103 593.75 03-22-02 HOVIS,TOM D 

38054 980.48 03-22-02 STEIN,PAUL 38104 579.29 03-22-02 KING,JESSE 

38055 491.60 03-22-02 BAKER,FRANCI 38105 615.18 03-22-02 RIOUX,BARBAR 

38056 499.54 03-22-02 BENTON,DOROT 38106 451.61 03-22-02 SANTURE,ANNE 

38057 716.95 03-22-02 COLLINS,RUTH 38107 661.88 03-22-02 DAVIS,STEVE 

38058 754.71 03-22-02 ELLIOTT,BILL 38108 566.86 03-22-02 LAYNE,TRACY 

38059 565.52 03-22-02 HALE,HOLLY 38109 259.01 03-22-02 SUMMERS,VALD 

38060 397.97 03-22-02 HILL,WILLIAM 38110 614.33 03-22-02 ZOELLNER,GOR 

38061 441.52 03-22-02 JOHNSON,BARB 

38062 630.85 03-22-02 JONES,DENNIS TOTAL 37,461.48 75GT 

9 

38063 643.52 03-22-02 MANTON,RON 

10 

38064 681.93 03-22-02 MATTHEWS,BIL 

38065 563.49 03-22-02 KINNEY,LINDA 

38066 276.39 03-22-02 MOORE,GERALD 

38067 419.92 03-22-02 SANFORD,PAUL 

38068 449.37 03-22-02 SANDERS,BILL 

38069 571.39 03-22-02 WRIGHT,MARION 

38070 153.02 03-22-02 CARLSON,BOB 

38071 702.79 03-22-02 RYDER,JENNY 

38072 754.04 03-22-02 KELLY,KATHY 

38073 305.90 03-22-02 BARRY,DONALD 

38074 712.45 03-22-02 BONNEY,DAN 

38075 525.01 03-22-02 BROCK,CINDY 

38076 505.22 03-22-02 COOK,SAM 

38077 712.48 03-22-02 CHARLES,AL 

38078 345.27 03-22-02 FELLOWS,ROB 

38083 561.04 03-22-02 MORRIS,SUE 

38084 640.38 03-22-02 O'MALLEY,SAM 

38085 451.60 03-22-02 PERRY,EDWIN 




Appendix 

Reports 

Float Report (Upon Request) 

The Float Report provides you with a summary of disbursement float 

information and can be used as a tool to make crucial money management 

decisions. 

This example illustrates the information provided on your Float Report (see 

form on the following page): 

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

Account Number: The company checking account number 


Period Ending MM/DD/YY: The period ending date 

Days: The number of float days (business days) 

Days: The number of float days (actual days) 

Count: The number of items that were outstanding for the number of 

float days 

PCT: The percent of total items that were outstanding for the number of 

float days: 

PCT = Count x 100 

Total Count 

Amount: The dollar amount of items that were outstanding for the 

number of float days 

PCT: The percent of total dollar amount of items that were outstanding 

for the number of float days: 

PCT = Amount x 100 

Total Amount 

Deposit Generation: The check float contribution to balances: 

Deposit Generation = Days Outstanding x Amount 

# of Days in Statement Period 

In the example on page 60, the number of days in the statement period 

is 22 for Business Days and 31 for Actual Days. 

11 

12 

13 

14 

15 

Weighted Average Days Out: The average number of days, weighted by 

the amount outstanding, for which funds are available during the float 

period. This value can be used to estimate the Deposit Generation for 

each period by using the following formula: 

Weighted Average = # of Days x Total Deposit Generation 

Days Out 

Total Dollar Amount 

PD-NO- ISS: The number and dollar amount of paid items without 

issues for this account during the report period 

Dropped: The number and dollar amount of dropped items for this 

account during this report period 

Date Err: The items not included in report due to problems or errors 

with the paid and/or issue date 

Balance: The balance number and amount 


FLOAT REPORT PAGE 1 

REPORT - 50 DATE: 3/31/01 

BANK NO. 087 BRANCH 00000 

1 ACCOUNT NO. 0010018901 2 ABC COMPANY 3 PERIOD ENDING 10/31/XX 

B U S I N E S S D A Y S A C T U A L D A Y S 

4 6 7 8 9 10 DEPOSIT 5 

DAYS COUNT PCT AMOUNT PCT GENERATION DAYS COUNT PCT AMOUNT PCT 

DEPOSIT 

GENERATION 

0 6 .72 84,497.14 13.29 .00 0 6 .72 84,497.14 13.29 .00 

1 13 1.56 101,004.25 16.84 4,863.82 1 9 1.08 3,776.95 .59 121.83 

2 48 5.19 207,828.40 32.70 18,893.50 2 35 4.22 35,162.83 5.53 2,268.56 

3 09 10.73 31,409.92 4.94 4,283.17 3 44 5.30 115,300.00 18.14 11,158.06 

4 139 16.76 44,909.56 7.06 11,530.25 4 41 4.94 180,956.15 28.48 123,349.18 

5 156 18.81 52,768.33 7.99 11,530.25 5 49 5.91 19,337.22 3.06 3,118.90 

6 121 14.59 32,952.57 5.18 8,987.06 6 111 13.38 36,619.18 5.76 7,007.58 

7 94 11.33 31,492.55 4.95 10,020.35 7 156 18.01 50,768.33 7.99 11,463.81 

8 63 3.59 16,607.39 2.61 6,039.05 8 103 12.42 27,655.04 4.35 7,136.78 

9 25 3.01 18,010.59 2.83 7,367.96 9 74 .92 28,913.95 4.55 8,194.31 

10 19 2.29 2,076.53 .32 943.87 10 58 6.99 14,351.77 2.25 4,629.60 

11 11 1.32 2,165.00 .34 1,002.00 11 26 3.11 3,110.57 .48 1,103.75 

12 7 .84 691.04 .10 376.93 12 23 2.77 7,553.15 1.18 2,293.80 

13 0 .96 1,158.52 .18 684.58 13 19 2.29 17,478.62 2.75 7,329.74 

14 8 .96 457.20 .07 292.24 14 19 2.29 2,076.53 .32 937.78 

15 3 .36 702.33 .11 478.86 15 8 .96 1,868.37 .29 904.05 

16 3 .36 521.00 .08 378.90 16 4 .48 407.45 .06 210.29 

17 5 .50 777.55 .12 609.74 17 8 .96 779.79 .06 421.22 

18 3 .36 148.45 .02 121.45 18 5 .60 448.55 .12 260.44 

19 3 .36 674.36 .07 413.31 

20 6 .72 294.37 .10 189.88 

21-40 20 2.41 3,195.21 .05 

over 40 2 .24 149.24 .02 

20-40 9 1.08 1,195.23 .18 

TOTAL 829 100.00 635,374.72 100.00 85,791.87 TOTAL 829 100.00 635,374.72 100.00 93,429.33 

11 WEIGHED AVERAGE DAYS OUT 2.98 WEIGHTED AVERAGE DAYS OUT 4.55 

12 PD-NO-ISS .00 PD-NO-ISS .00 

13 DROPPED 209 2,065.90 DROPPED 209 2,065.90 

14 DATE ERR 4 874.20 DATE ERR 4 874.20 

15 BALANCE 1,042 639,114.90 BALANCE 1,042 639,114.90

Appendix 

Reports 

Report of Checks Exceeding $XXX (Full or Partial) 

The Report of Checks Exceeding $XXX provides detailed float information on 

individual checks exceeding a certain dollar amount (customer determined) 

for the period requested. 

This example illustrates the information provided on your Report of Checks 

Exceeding XXX Report (see form on the following page): 

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

$XXX.XX: The minimum dollar amount to be reported. 

For Account: The company checking account number. 

Date: The date of the report. 

Serial Number: The MICR check number. 

Date Paid: The date the check was paid. 

Date Issued: The date the check was issued. 

Days Out: The number of calendar days between the date issued and 

the date paid. 

Check Amount: The dollar amount of the paid check. 

Additional Data: Any additional information for the account. 

Deposit Generation: The check float contribution to balances: 

Deposit Generation = Days Outstanding x Amount 

# of Days in Statement Period 


REPORT OF CHECKS EXCEEDING 1 $XXX.XX 2 FOR ACCOUNT: 0049 1-234-567 

3 

DATE: 10/31/01 

4 SERIAL 

5 DATE 

6 DATE 

7 DAYS 

8 CHECK 

9 ADDITIONAL 

10 DEPOSIT 

NUMBER 

PAID 

ISSUED 

OUT 

AMOUNT 

DATA 

GENERATION 

6551 10/02/01 09/22/01 10 354.44 MM BJ JOHNSON 144.33 

6530 10/02/01 09/22/01 10 1,125.00 MM ABC CORP 162.90 

6528 10/03/01 09/19/01 14 396.97 MM AB MORRIS 179.27 

6366 10/09/01 09/16/01 23 506.50 MM N BROOKS 375.79 

6166 10/09/01 09/10/01 29 695.59 MM ELLIS MERCH 650.61 

6812 10/03/01 10/03/01 19,934.26 MM WINTERS .00 

6002 10/06/01 09/29/01 7 522.46 MM MJ SMITH 117.97 

6789 10/06/01 09/29/01 7 602.17 MM CENTRAL 134.01 

6768 10/06/01 09/29/01 9 600.00 MM RICE 174.19 

6767 10/08/01 09/29/01 9 18,683.31 MM RICE 5,424.18 

6755 10/08/01 09/29/01 7 2,953.84 MM M JACKSON 666.99 

6754 10/06/01 09/29/01 7 2,953.84 MM M JACKSON 666.99 

6751 10/06/01 09/29/01 7 1,668.22 MM M JACKSON 666.99 

6740 10/06/01 09/29/01 4 628.92 MM TEXAS IND 186.86 

6730 10/03/01 09/26/01 13 358.27 MM A CAMPBELL 263.74 

6722 10/09/01 09/26/01 5 1,345.37 MM SOUTHWEST CO 57.78 

6716 10/01/01 09/26/01 6 2,896.51 MM B MORRIS 260.39 

6715 10/02/01 09/26/01 5 4,647.37 MM PARKS FOOD 467.17 

6714 10/01/01 09/26/01 7 2,072.37 MM M BROWN 1,049.40 

6713 10/03/01 09/26/01 7 2,372.37 MM M BROWN 567.95 

6608 10/03/01 09/25/01 7 2,159.06 MM M BROWN 535.69 

6687 10/03/01 09/25/01 7 500.00 MM M BROWN 407.52 

6670 10/06/01 09/25/01 11 481.72 MM H PORTER 177.41 

6656 10/02/01 09/24/01 7 923.96 MM SOUTHWEST CO 100.77 

6628 10/02/01 09/23/01 8 129.18 MM CREST MFG 238.44 

6579 10/09/01 09/23/01 15 811.89 MM NORTH IND 353.11 

6528 10/01/01 09/23/01 8 348.59 MM J L GRAY 209.52 

8140 10/31/01 10/31/01 8 422.50 MM AMERICAN MFG 89.95 

8045 10/01/01 10/28/01 8 1,975.18 MM WOODS IND 108.95 

8017 10/31/01 10/27/01 1,214.83 MM PETERSON CO .00 

8015 10/31/01 10/24/01 3 415.69 MM SP WEST 117.56 

7999 10/31/01 10/24/01 4 332.95 MM J RANDALL 53.63 

7995 10/31/01 10/24/01 4 461.28 MM BJ MOORE 42.96 

7948 10/31/01 10/24/01 4 754.43 MM MARTIN 59.52 

7945 10/30/01 10/24/01 3 100,000.00 MM M SMITH 73.00 

7918 10/27/01 10/24/01 3 1,953.03 MM R PARKS 9,677.41 

7935 10/29/01 10/24/01 5 441.05 MM SOUTHWEST CO 315.00

Appendix 

Reports 

Automated Issue File Transmittal Report 

The Issue File Transmittal report verifies your issue file transmissions to JPMorgan Chase. 

This report will be automatically provided to you with one hour of receipt of your transmission. 

FILE STATUS AND CUSTOMER 

VERIFICATION 

“AWAITING POSTING”; SUMMARY 

INFORMATION MATCHES 

TRANSMISSION (NUMBER OF ITEMS 

AND DOLLAR AMOUNTS) 

“AWAITING POSTING”; SUMMARY 

INFORMATION DOES NOT MATCH 

DESCRIPTION 

CUSTOMER ACTION 

TRANSMISSION SUCCESSFUL NO ACTION REQUIRED – 

TRANSMISSION NOT RECEIVED AS 

SENT 

TRANSMISSION SUCCESSFULLY 

RECEIVED AS SENT 

CONTACT ARP OPERATIONS TO 

DELETE FILE AND RE-SEND 

TRANSMISSION (NUMBER OF ITEMS 

AND DOLLAR AMOUNTS) 

“UN-POSTABLE” TRANSMISSION ERROR CONTACT ARP OPERATIONS FOR 

NO TRANSMITTAL 

RECEIVED 

TRANSMISSION NOT RECEIVED 

RESOLUTION 

RE-SEND TRANSMISSION 

The following examples illustrate the information provided on your Issue File Transmittal 

Report: 

1. Account Number 

2. Issues, Cancels, Voids 

3. Item Count 

4. Total Amount 

5. Status Message 

• Fax Report 

• Web Report 


Automated Transmittal - Sample FAX Report 

Transmittal Acknowledgement – ARP Operations 

To: John Q Public Fax # (614) 888-1111 

Date/Time: 07/31/03 09:31:15 Source ID: 1032120807011 

File Reference Name: ARPD.BINP0.N.ARP1REST.G0023V00 

Total number of items on file: 677 

Total dollar amount for file: $ 1,052,344.10 

File Summary: 

Transaction Type Item Count Amount 

2 

1 

Account #: 0000123456789 

Issues 3 47 4 19,219.35 5 AWAITING POSTING 

Cancels 5 100.00 AWAITING POSTING 

Account #: 0000987654321 

Issues 573 1,025,999.57 AWAITING POSTING 

Account #: 0000456123789 

Automated Transmittal – Sample Web Report: 

ARPD.BEIF0.N.ARPATRPT 

----+----1----+----2----+----3----+----4----+----5----+----6----+----7----+----8----+- 

---9----+----0----+----1----+----2----+----3-- 

*********************************************************** Top of Data 

************************************************************ 

ARP/SERVICE MANAGEMENT SYSTEM 

FILE NAME: ARPP.BINP0.NFTS.COLS724D.G0603V00 

FILE STATUS: AWAITING POSTING 

5 

REPLY: 07/31/2003 09:31:15 

SOURCE ID: 103212100047 

REPLY - IS 431 1,015,425.16 CN 5 17,155.55 

1 

TRANSACTION: IS 

001 000000611810524 2 

14 3 4,455.19 4 

001 000000611811860 2 886.00 

001 000000611811878 210 693,744.60 

001 000000611811886 30 23,279.33 

001 000000611811894 25 25,735.77 

001 000000611811910 18 12,033.40 

001 000000611811928 52 96,670.51 

001 000000611811936 12 3,022.97 

001 000000611819947 33 67,206.57




Appendix 18. Sample DDA Statement

January 31, 2010 - 

February 28, 2010 

JPMORGAN CHASE BANK, N.A. 

TEXAS MARKET 

P O BOX 260180 

BATON ROUGE LA 70826-0180 

Page 1 of 4 

Account Number 

000000123456789 

Customer 

Service 

00000005CEN 201 X 32606 - NNN 

1 000000065 42 TEST 

STANDARD STATEMENT SAMPLE FORMAT 16 

XYZ Corporation 

123 Main Street 

Your City OH 12345-1234 

If you have any questions 

about your statement, please 

contact 1-888-434-3030 or 

your Customer Service 

Professional. 

Commercial Checking 

Summary 

Number 

Amount 

Opening Ledger Balance $250,000.00 

Deposits and Credits 16 $427,378.42 

Withdrawals and Debits 5 $141,063.22 

Checks Paid 5 $21,707.07 

Ending Ledger Balance $514,608.13 

Deposits and Credits 

Ledger 

Date Description Amount 

10/04 FED WIRE CREDIT VIA: STATE STREET BANK & TRUST 

$209,773.03 

COMP/012345678 B/O: NRECA NJZA ATTN SALLY CRISS REF: CHASE 

NYC/CTR/BNF=AIM FUND SERVICES INC HOUSTON TX 

77046-/AC-000000001233 RFB=302149197 OBI=REF: CONTACT 

PAI AT 800-236-5555 OPT. 5, THIMAD: 0801A1Q002BC001533 TRN: 

0523903213FF 

YOUR REF: 302149197 

10/04 DEPOSIT 1601505 

$50,303.44 

10/04 DEPOSIT 1601506 

$40,303.44 

10/04 LOCKBOX DEPOSIT 99394 

$5,699.50 

10/04 CTS HOLDINGS,LLCSETTLEMENT 055555550010731 CCD 

$1,266.26 

10/04 ORIG CO NAME:PPD CREDITS ORIG ID:1580772778 DESC 

$721.00 

DATE:050129 CO ENTRY DESCR:XXXXXXXXXXSEC:PPD 

TRACE#:021000020321131 EED:060703 IND ID:ER306-CR 

IND NAME:PPD-ER306-TEXAS TRN: 1840321131TC 

10/04 AIM MANAGEMENT DDAAccount 000000000000000 CCD 

$200.00 

10/11 DEPOSIT 101532168 

$21,964.80 

Please examine this statement of account at once. By continuing to use the account, you agree that: (1) the account is 

subject to the Bank's deposit account agreement, and (2) the Bank has no responsibility for any error in or improper charge 

to the account (including any unauthorized or altered check) unless you notify us in writing of this error or charge within sixty 

days of the mailing or availability of the first statement on which the error or charge appears.

January 31, 2010 - 




000000123456789 




(continued) 

Deposits and Credits 

Ledger 


10/11 DEPOSIT 

$21,576.32 

10/11 AUTOMATIC DOLLAR/FLOAT TRANSFER FROM ACCOUNT 

$18,329.13 

000000000000000 TRN: 0023820400XF 

10/17 LOCKBOX DEPOSIT 99394 

$9,586.48 

10/25 DEPOSIT 1096 

$39,505.48 

10/25 BANK CREDIT 

$400.00 

10/25 AMERICAN EXPRESSSETTLEMENT 1455555559 CCD 

$126.16 

10/31 DEPOSIT 1095 

$6,874.70 

10/31 DEPOSIT 

$1,469.68 

Total $427,378.42 

Withdrawals and Debits 

Ledger 


10/04 BOOK TRANSFER DEBIT A/C: D9304019012 MLPF&S REF:/BNF/ATTN 

$135,128.13 

RALPH EL LIN ATTN JOHN JONES 01722228 TRN: 3231900213JO 

YOUR REF: CAP OF 06/08/01 

10/11 DEPOSITED ITEM RETURNED 361556 

$81.00 

# OF ITEMS00001 

10/17 FEDWIRE DEBIT VIA: FIRST ALAMOGORDO/112255555 A/C: BLUE 

$3,685.60 

STONE IMAD: 0817B1QGC03C005006 TRN: 0017100229GP 

YOUR REF: PHN OF 06/08/17 

10/25 AUTOMATIC DOLLAR/FLOAT TRANSFER TO ACCOUNT 

$745.68 

000005555555514 TRN: 0020530400XF 

10/31 IRS USATAXPYMT 555555555839456 CCD 

$1,422.81 

Total $ 141,063.22 

Stops 

Low Range or High Range 

Date Description Check Number or Amount 

10/03 STOP PLACED 345126 $4,723.52 

CHECK DATE: 10/02/2006 

CHECK LOST

January 31, 2010 - 




000000123456789 




(continued) 

Stops 

Low Range or High Range 

Date Description Check Number or Amount 

10/03 STOP PLACED 345130 

CHECK DATE: 10/13/2006 

CHECK STOLEN 

10/03 STOP PLACED 345162 345300 

CHECK DATE: 07/03/2006 

CHECK LOST 

10/03 STOP REMOVED $1,265.79 

CHECK DATE: 10/17/2006 

10/03 STOP REMOVED $15,777.05 $16,777.05 

CHECK DATE: 10/04/2006 

Checks Paid 

Check Date Paid Amount Check Date Paid Amount Check Date Paid Amount 

............................................................................. ............................................................................. ............................................................................. 

346195 10/04 $1,275.06 

346200 * 10/11 $18,865.34 

346205 * 10/17 $633.75 

346196 10/11 $907.92 

346201 10/11 $25.00 

Total 5 check(s) $21,707.07 

* indicates gap in sequence 

Daily Balance 

Ledger 

Ledger 

Date Balance Date Balance 

....................................................................................................... ....................................................................................................... 

10/04 $421,863.48 

10/25 $508,407.56 

10/11 $463,854.47 

10/31 $515,329.13 

10/17 $469,121.60 

Your service charges, fees and earnings credit have been calculated through account analysis.

January 31, 2010 - 




000000123456789 




(continued) 

Stop Payment Renewal Notice 

Account Number 000000123456789 Bank Number: 201 

The following Stop Payments will automatically renew for a 1-year period. You may revoke a Stop prior to the 

renewal date by simply returning a signed copy of this form with an 'X' placed next to each item you may wish 

to revoke. The revoking of stop payments will be effective on the renewal date listed on your statement. To 

immediately remove a current stop payment, please contact your Customer Service Professional. Please 

allow 10 - 15 days for mail and processing times. Please ensure that an authorized signature is placed in the 

space provided and mailed to the return address listed at the bottom of the page. Any stops that are revoked 

will expire on the renewal date. 

Revoke Sequence Date Renewal Low Range or High Range 

Stop Number Entered Date Check Number or Amount 

00028 11/16/2000 11/16/2006 175609 $1,064.78 

00029 11/16/2000 11/16/2006 175732 $2,401.50 

00044 11/16/2000 11/16/2006 176434 $1,516.86 

00045 11/16/2000 11/16/2006 176771 $304.70 

Authorized 

Signature: 

Date: 



123 Main Street 

Your City OH 12345-1234 

JPMORGAN CHASE BANK, N.A. 

TEXAS MARKET 

P O BOX 260180 

BATON ROUGE LA 70826-0180




Appendix 19. Sample Custody Statement

***07146801A29200 TESTT7 2012040120120430T7 

JPMORGAN CHASE BANK, NA 

STATEMENT OF ACCOUNT 

340 S. CLEVELAND AVE. BLDG 350 FOR PERIOD 04/01/12 THROUGH 04/30/12 

WESTERVILLE, OHIO 43081 

TRUST COMPANY TRUSTEE FOR 

WSS OPERATIONS 

340 SOUTH CLEVELAND AVENUE 

350 MC COY BUILDING FIRST FLOOR 

WESTERVILLE OHIO 43081 

ACCOUNT NUMBER 6801A29200 

FOR ASSISTANCE, PLEASE CONTACT 

UNASSIGNED 

. 

JIM STOCKER-T7 (SJ) 

PAPERLESS STATEMENT JPMORGAN 

340 S CLEVELAND AV 350 BLDG 

WESTERVILLE OH 43081

STATEMENT MESSAGES 

ACCOUNT NO. 6801A29200 CAROL C PAULL TRUST TEST ACCOUNT #01 

JPMORGAN CHASE & CO. AFFILIATES MAY RECEIVE AND ACCEPT FROM TIME TO TIME 12B-1 FEES, SHAREHOLDER SERVICING FEES, SUB- 

TRANSFER AGENCY FEES, NETWORK REIMBURSEMENT FEES, OR OTHER FEES AS DESCRIBED IN THE PROSPECTUS FOR THE FUND WITH 

RESPECT TO ELIGIBLE ACCOUNTS. WE HAVE TAKEN STEPS TO AVOID RECEIVING FEES WITH RESPECT TO INELIGIBLE ACCOUNTS. IN 

THOSE CASES WHERE WE INADVERTENTLY RECEIVE ANY SUCH FEES FOR INELIGIBLE ACCOUNTS, SUCH FEES WILL BE RETURNED TO THE 

FUND'S DISTRIBUTOR OR OTHER PAYOR. 

MARKET VALUE AND PRICES FOR PUBLICLY-TRADED SECURITIES HAVE BEEN OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE WITHOUT 

GUARANTEE OF ACCURACY. CERTAIN ASSETS MAY NOT BE HELD BY US AND THEIR REPORTING IS AT THE REQUEST OF AND FOR THE 

CONVENIENCE OF THE ACCOUNT OWNER. CERTAIN ASSETS, INCLUDING BUT NOT LIMITED TO, NON-PUBLICLY TRADED AND INFREQUENTLY 

TRADED SECURITIES, DERIVATIVES, PARTNERSHIP INTERESTS, TANGIBLE ASSETS, AND LIFE INSURANCE POLICY CASH VALUES MAY NOT BE 

DETERMINED BY US AND MAY HAVE BEEN PROVIDED TO US BY THIRD PARTIES WHO ARE NOT INDEPENDENT OF THE ISSUER OR MANAGER. 

SUCH INFORMATION IS REFLECTED AS OF THE LAST DATE PROVIDED TO US, MAY BE CARRIED AT COST AND IS NOT INDEPENDENTLY 

VERIFIED. WHERE APPLICABLE REFER TO YOUR BROKER, INVESTMENT MANAGER OR OTHER THIRD PARTY STATEMENT FOR VALUATION. 

PRICING AND TRANSACTION INFORMATION. LIFE INSURANCE VALUES ARE SHOWN AT CASH SURRENDER VALUE AS MOST RECENTLY REPORTED 

BY YOU OR THE INSURANCE COMPANY. IF THE VALUE SHOWN IS $1.00 WE HAVE NOT RECEIVED A CASH SURRENDER VALUE. 

JPMORGAN FUNDS ARE NOT BANK DEPOSITS, NOT FDIC INSURED, NOT OBLIGATIONS OF OR GUARANTEED BY JPMORGAN CHASE BANK, N.A. OR 

ITS AFFILIATES, OR ANY FEDERAL OR STATE GOVERNMENT, GOVERNMENT AGENCY OR GOVERNMENT SPONSORED AGENCY AND INVOLVE 

INVESTMENT RISKS (INCLUDING POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED). JPMORGAN CHASE BANK, N.A., AND ITS AFFILIATES, 

INCLUDING THE LEGAL ENTITY PROVIDING THIS STATEMENT, RECEIVE FEES FOR PROVIDING VARIOUS SERVICES TO THE FUNDS. 

PROSPECTUSES, FEE DISCLOSURE STATEMENTS AND ANNUAL REPORTS FOR PROPRIETARY FUNDS ARE ALWAYS AVAILABLE. PLEASE CONTACT 

YOUR ADVISOR, OR MUTUAL FUND SERVICE CENTER AT (800) 480-4111 (WWW.JPMORGANFUNDS.COM) FOR FURTHER INFORMATION. 

*ASSETS HELD IN CLIENT NAME ARE NOT HELD IN CUSTODY BY J.P. MORGAN AND ARE NOT SUBJECT TO J.P. MORGAN'S CONTROL. AS 

SUCH, CUSTOMERS HAVE NO SECURITIES ENTITLEMENT OR OTHER RIGHT AGAINST J.P. MORGAN WITH RESPECT TO THESE ASSETS, AND J.P. 

MORGAN WILL NOT BE LIABLE WITH RESPECT TO THESE ASSETS. 

CLIENTS WITH AUCTION RATE SECURITIES(ARS): PLEASE REVIEW THE IMPORTANT INFORMATION ON ARS BELOW. CONTACT YOUR 

INVESTMENT REPRESENTATIVE IF YOU NEED ASSISTANCE IDENTIFYING IF ANY OF THE SECURITIES LISTED ON YOUR STATEMENT ARE ARS. 

IMPORTANT INFORMATION REGARDING AUCTION RATE SECURITIES (ARS). ARS ARE DEBT OR PREFERRED SECURITIES WITH AN INTEREST OR 

DIVIDEND RATE RESET PERIODICALLY IN AN AUCTION. ALTHOUGH THERE MAY BE DAILY, WEEKLY AND MONTHLY RESETS, THERE IS NO 

GUARANTEE THAT THERE WILL BE LIQUIDITY. IF THERE ARE NOT ENOUGH BIDS AT AN AUCTION TO REDEEM THE SECURITIES AVAILABLE 

FOR SALE, THE RESULT MAY BE A FAILED AUCTION. IN A FAILED AUCTION, THERE IS NO ASSURANCE THAT A SECONDARY MARKET WILL 

DEVELOP OR THAT THE SECURITY WILL TRADE AT PAR OR ANY OTHER PRICE REFLECTED ON STATEMENTS. ACCORDINGLY, INVESTORS SHOULD 

NOT RELY ON PRICING INFORMATION APPEARING IN THEIR STATEMENTS WITH RESPECT TO ARS. 

THIS STATEMENT IS 

NOT AN OFFICIAL DOCUMENT FOR INCOME TAX REPORTING PURPOSES.

ACCOUNT SUMMARY 

ACCOUNT NO. 6801A29200 

APRIL 1, 2012 TO APRIL 30, 2012 

CAROL C PAULL TRUST TEST ACCOUNT #01 PAGE 1 

MARKET VALUE (WITHOUT ACCRUED INCOME) ON 03/31/12 $20,641,529.00 

INVESTMENT ACTIVITY 

CHANGE IN UNREALIZED GAIN/(LOSS) 83,874.00- 

TOTAL INVESTMENT ACTIVITY 83,874.00- 

MARKET VALUE ON 04/30/12 20,557,655.00 

ACCRUED INCOME ON 04/30/12 392.88 

TOTAL VALUE (WITH ACCRUED INCOME) ON 04/30/12 $20,558,047.88

PORTFOLIO SUMMARY 


AS OF 4/30/12 


TAX MARKET UNREALIZED ACCRUED YLD AT 

ASSET CATEGORY COST VALUE GAIN/LOSS INCOME MKT/MAT 

PRINCIPAL 

FIXED INCOME TAXABLE 971,537.12 1,188,172.24 216,635.12 0.17 4.48 

0.60 

FIXED INCOME NON-TAXABLE 1,900,000.00 1,900,000.00 0.00 243.10 0.00 

EQUITIES 228,053.79 13,488,526.16 13,260,472.37 149.61 0.24 

MISCELLANEOUS 113,250.00- 113,220.00- 30.00 0.00 0.00 

CASH 3,910,426.62 3,910,426.62 0.00 0.00 0.00 

TOTAL PRINCIPAL 6,896,767.53 20,373,905.02 13,477,137.49 392.88 0.42 

INCOME 

CASH 183,749.98 183,749.98 0.00 0.00 0.00 

TOTAL INCOME 183,749.98 183,749.98 0.00 0.00 0.00 

TOTAL ACCOUNT 7,080,517.51 20,557,655.00 13,477,137.49 392.88 0.41

SCHEDULE OF ASSETS 


AS OF 4/30/12 


SHARES/UNITS TAX MARKET UNREALIZED ACCRUED 

OR PAR VALUE ASSET DESCRIPTION COST VALUE GAIN/LOSS INCOME 

PRINCIPAL 

FIXED INCOME TAXABLE 

1,200,000.00 UNITED STATES TREAS BD STRIPPED PRIN 969,397.84 1,186,464.00 217,066.16 0.00 

PMT FROM 11.250% TREAS BD DUE 

02/15/2015 

2,139.28 WAMU MTG PASS-THROUGH CTFS 2005-AR6 2,139.28 1,708.24 431.04- 0.17 

MTG PASSTHRU CTF CL 2-A-1A FLTG RT 

DUE 05/25/2045 

TOTAL FIXED INCOME TAXABLE 971,537.12 1,188,172.24 216,635.12 0.17 

FIXED INCOME NON-TAXABLE 

100,000.00 DELAWARE VALLEY PA REGL FIN AUTH LOC 100,000.00 100,000.00 0.00 68.67 

GOVT REV BMTF MODE 1 DTD 08/28/1986 

VAR RT DUE 08/01/2016 

400,000.00 NEW YORK N Y CITY HSG DEV CORP 400,000.00 400,000.00 0.00 38.33 

MULTIFAMILY RENT HSG REV RELATED 

MONTEREY SER A DTD 10/31/1997 VAR RT 

DUE 11/15/2019 

100,000.00 COHASSET MINN REV -REF-MINN PWR & LT 100,000.00 100,000.00 0.00 21.93 

CO PJ-A DTD 06/24/1997 VAR RT DUE 

06/01/2020 

500,000.00 NEW YORK N Y CITY TRANSITIONAL FIN 500,000.00 500,000.00 0.00 114.17 

AUTH REV NYC RECOVERY SER 1 SUB 1A 

DTD 07/11/2002 VAR RT DUE 11/01/2002 

800,000.00 TRIBOROUGH BRDG & TUNL AUTH N Y REVS 800,000.00 800,000.00 0.00 0.00 

GEN SER A DTD 05/11/2005 VAR RT DUE 

11/01/2035 

TOTAL FIXED INCOME NON-TAXABLE 1,900,000.00 1,900,000.00 0.00 243.10



AS OF 4/30/12 




EQUITIES 

BANKS 

105.00 BANK NEW YORK MELLON CORP 2,622.51 2,483.25 139.26- 13.65 

CAPITAL EQUIPMENT 

116.00 GENERAL ELEC CO 4,029.48 2,271.28 1,758.20- 0.00 

CONSUMER NON-DURABLE 

8,900.00 COCA-COLA CO 101,183.02 679,248.00 578,064.98 0.00 

ASSET HELD AT MELLON BANK IN 

PITTSBURGH, PA 

FINANCE 

106.00 ALLEGHANY CORP DEL 4,384.87 36,347.40 31,962.53 0.00 

100.00 BERKSHIRE HATHAWAY INC DEL 5,000.00 12,080,000.00 12,075,000.00 0.00 

CL A 

100.00 LEHMAN BROS HLDGS INC 1.00 3,150.00 3,149.00 0.00 

PFD CONV SER A 5% 

INDUSTRIAL COMMODITIES 

9,385.87 12,119,497.40 12,110,111.53 0.00 

100.00 UNITED STS STL CORP NEW 10,040.01 2,833.00 7,207.01- 0.00 

TECHNOLOGY 

2,201.00 INTERNATIONAL BUSINESS MACHS CORP 6,246.86 455,783.08 449,536.22 0.00 

14.00 MOTOROLA INC 7,294.26 714.42 6,579.84- 0.00 

NEW



AS OF 4/30/12 




12.00 MOTOROLA MOBILITY HLDGS INC 5,239.51 465.84 4,773.67- 0.00 

TRANSPORTATION 

18,780.63 456,963.34 438,182.71 0.00 

1,300.00 INTERNATIONAL CONS AIRLS GROUP SA 1,600.00 18,473.00 16,873.00 0.00 

SPONSORED ADR 

2,250.00 KLM ROYAL DUTCH AIRLS N Y REG NEW 3,000.00 10,125.00 7,125.00 0.00 

TELEPHONE UTILITIES 

4,600.00 28,598.00 23,998.00 0.00 

309.00 AT & T INC 1,330.08 10,169.19 8,839.11 135.96 

OTHER UTILITIES 

100.00 ALABAMA PWR CO 1.00 10,100.00 10,099.00 0.00 

PFD 6.88% 

REAL ESTATE INVESTMENT TRUSTS 

1,000.00 HEALTH CARE REIT INC 1,000.00 56,695.00 55,695.00 0.00 

OTHER 

1,000.00 BANK ONE S & P 500 INDEX STOCK FD 41,234.95 42,006.48 771.53 0.00 

FOR PERSONAL TRUSTS 

57.32 CLIPPER FD INC 4,929.93 3,898.97 1,030.96- 0.00 

251.56 FIDELITY CONTRAFUND INC 10,876.65 19,483.24 8,606.59 0.00



AS OF 4/30/12 




660.00 ISHARES INC 13,967.94 29,106.00 15,138.06 0.00 

MSCI PACIFIC EX-JAPAN INDEX FD 

176.45 LEGG MASON PARTNERS FDS INC 2,098.23 3,102.01 1,003.78 0.00 

LARGE CAP VALUE FD CL A 

1,000.00 VANGUARD SPECIALIZED PORTFOLIOS 1,000.00 21,760.00 20,760.00 0.00 

REIT INDEX PORTFOLIO 

100.00 ZWEIG FD INC 973.49 311.00 662.49- 0.00 

75,081.19 119,667.70 44,586.51 0.00 

TOTAL EQUITIES 228,053.79 13,488,526.16 13,260,472.37 149.61 

MISCELLANEOUS 

113,250.00- LIABILITY DEFERRED COMMISSION 113,250.00- 113,250.00- 0.00 0.00 

15.00 MORTGAGE NOTE RECEIVABLE 0.00 30.00 30.00 0.00 

SECURITY TYPE 110 

MORTGAGE/NOTE PAYABLE 

MINOR INDUSTRY CODE 185 

TOTAL MISCELLANEOUS 113,250.00- 113,220.00- 30.00 0.00 

CASH 3,910,426.62 3,910,426.62 0.00 0.00 

TOTAL PRINCIPAL 6,896,767.53 20,373,905.02 13,477,137.49 392.88 

INCOME CASH 183,749.98 183,749.98 0.00 0.00 

TOTAL ACCOUNT 7,080,517.51 20,557,655.00 13,477,137.49 392.88

ACCOUNT ACTIVITY SUMMARY 


APRIL 1, 2012 TO APRIL 30, 2012 


INVESTMENTS 

REALIZED 

INCOME CASH PRINCIPAL CASH AT TAX COST GAIN/LOSS 

ENDING BALANCE PRIOR PERIOD 04/01/12 183,749.98 3,910,426.62 2,986,340.91 

TOTAL RECEIPTS 0.00 0.00 0.00 0.00 

TOTAL DISBURSEMENTS 0.00 0.00 0.00 

ENDING BALANCE THIS PERIOD 04/30/12 183,749.98 3,910,426.62 2,986,340.91




Appendix 20. Sample Collateral Statement

Bank of New York Sample Collateral Statement

Title Page - The School District of Palm Beach County

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