ANSI X9-37:2001 pdf free download – Specifications For Electronic Check Exchange
1.1 Scope
This standard establishes the file sequences, record types, and field formats to be used for the electronic exchange of check MICR line and associated check processing data. This standard does not address operational, implementation, or settlement issues. These issues may include, but are not limited to: choice of compression (e.g., Blank compression), encryption (e.g., DES, Clipper), transmission specifications (e.g., protocols, line spreads), and data representation (e.g., ASCII, EBCDIC). The informative annexes attached to this standard provide information which may prove useful to those planning on implementing the standard.
1.2 Presentment disclaimer
“Presentment” is used throughout this standard in a colloquial sense only: to refer to or to describe an operational process, the movement of checks and check- related data from a collecting bank to a paying bank. In no instance shall use of the term “presentment” in the standard be construed as a legal definition of presentment, or as a description of when presentment as a legal event occurs. Nor does its use in any way define the legal rights and responsibilities of parties participating in the check clearing process, or parties otherwise interested in a check. This standard shall not be used by parties in dispute to define legal standards of conduct in the check clearing process, and cannot be relied upon in that context. Parties interested in the legal standards governing the check clearing process should consult the Uniform Commercial Code, Regulation CC – Availability of Funds and Collection of Checks, Federal Reserve Operating Circulars, Clearinghouse rules, other clearing agreements, relevant case law, and other sources of applicable law.
3.8 bundle: A subset of a cash letter usually containing about 300-400 checks. The dollar amount of the bundle serves as a control total and is listed on the cash letter.
3.9 cash letter: A group of checks sent by a bank or its agents to another bank, a clearing house, or a Federal Reserve office. A cash letter contains a number of negotiable items, usually checks, accompanied by a transmittal letter that lists the dollar totals of the check bundles.
3.10 electronic check exchange (ECE): The exchange of check information electronically, in lieu of or in addition to the exchange of paper checks. For forward presentment, usually referred to as electronic check presentment (ECP).
3.11 ECE institution: The institution that creates and sends the electronic cash letter information.
3.12 external processing code (EPC) field: An optional, single digit field located to the left of the routing field on a check. The EPC field is used for special purposes as authorized by the Accredited Standards Committee X9B.
3.13 fixed format: A term applied to the required and optional fields for which the location, digit sequence and structure are completely specified.
3.14 magnetic ink character recognition (MICR): The common machine language speci-fied for the paper-based payment transfer system. It consists of magnetic ink printed characters of a special design, called the E13B font, that can be recognized by high speed magnetic recognition equipment.
3.15 On Us field: The MICR print band area between the closing amount symbol and the opening routing symbol. Arrangement of the on us field is variable, specified by the bank on which the check is written. It may include such information as the user’s account number, a consecutive number, or processing code.
3.16 payor: The party issuing a check. The payor also is known as the maker or writer.
3.17 payor bank: The institution by or through which a check is payable. The payor bank is also referred to as paying bank.