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Payment Systems

Payment Systems. Summary: Check Truncation and Check 21. Basic concepts. Check 21 Federal statute to encourage and promote check truncation (converting checks to electronic images). Basic concepts. Basic concepts. Basic concepts. Check 21 4(b). Legal equivalence

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Substitute Check The Substitute Check or Image Replacement Document (IRD) is a paper reproduction of the original check. It is the legal equivalent of the original check for all purposes. Front. Back.

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Legal equivalent - PowerPoint PPT Presentation

Payment Systems

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