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A substitute check (also called an Image Replacement Document or IRD) [1] is a negotiable instrument that is a digital reproduction of an original paper check.As a negotiable payment instrument in the United States, a substitute check maintains the status of a "legal check" in lieu of the original paper check, as authorized by the Check Clearing for the 21st Century Act (the Check 21 Act).
The Check 21 Act took effect one year later on October 28, 2004. The law allows the recipient of a paper check to create a digital version of the original, a process known as check truncation, into an electronic format called a "substitute check", thereby eliminating the need for further handling of the physical document. The recipient bank no ...
A substitute check or cheque, also called an image cash letter (ICL), clearing replacement document (CRD), [1] or image replacement document (IRD), [2] is a negotiable instrument used in electronic banking systems to represent a physical paper cheque (check).
What do all the numbers on the check mean? All checks have standard numbers printed on them, as well as areas you will have to fill in to initiate a payment. ... “With a duplicate checkbook, you ...
After voiding the check, record it in your check register (check book) with a brief explanation for voiding it for your personal records, noting the check number. If you’re using duplicate ...
Canceled Checks vs. Returned Checks. A returned check is a check that does not go through because the issuing bank declines it. This could be for varying reasons, but most likely, it is due to the ...
In computer programming, duplicate code is a sequence of source code that occurs more than once, either within a program or across different programs owned or maintained by the same entity. Duplicate code is generally considered undesirable for a number of reasons. [ 1 ]
When you write a check using a duplicate checkbook, you’ll tear out the actual check, leaving behind a carbon copy with all the relevant information: payee, amount and date.
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