Electronic Payment Trading Partner Enrollment Agreement (Page 2 of 2) in pdf

ELECTRONIC PAYMENT TERMS AND CONDITIONS

The Debit Collection Improvement Act of 1996 mandates all Federal government payments be made by Electronic Funds Transfer (EFT) as of 1 Jan 99. As

such, payment terms between NAFI and Contractor is by EFT.

Contractor agrees to accept payment from the NAFI through EFT. The NAFI can rely exclusively on the information provided by the Contractor on this

enrollment form. This applies to and amends all existing agreements with the NAFI by incorporating the following terms and conditions for electronic payment.

NAFI will initiate payment to Contractor based on the following:

1. EFT payment will be made to the financial institution to credit the account number as stated on enrollment form.

2. EFT payment is in a National Automated Clearing House (NACHA) CCD+ format.

3. Remittance information is limited to repetitive (non-changing) information, such as, customer number, store number, etc.

4. The bank information contained on this enrollment form signed by Contractor's authorized representative contains the Contractor's correct account

information. Contractor's authorized representative must notify NAFI in writing of any change to said Contractor's bank account information 10 days prior NAFI's

forthcoming payment due date. This allows the NAFI to make the necessary account information changes within their EFT payment system. The NAFI will be

considered harmless for any loss that may arise solely by reason of error, mistake or fraud regarding the bank information provided by Contractor on an original

enrollment or corrected enrollment form.

5. EFT payment is initiated within the normal terms of NAFI's agreement with Contractor. NAFI's EFT terms and conditions neither enlarge or diminish the

respective rights and obligations of NAFI within any applicable commercial agreement. The payment due date is not affected. NAFI will consider payment

made when Contractor's financial institution has received or has control of the payment transaction. This will generally occur within three (3) calendar days

following EFT payment by the NAFI. Any loss of data at that point will be borne by Contractor unless the loss is due to sole negligence of the NAFI's originating

bank.

If the NAFI EFT payment value date is a non-banking day, the EFT value date automatically changes to the next banking business day. In all cases, the

banking day is defined as the day the EFT originating bank (NAFI) and the receiving bank (Contractor) is available to transmit and receive the EFT payment.

Contractor should notify the NAFI immediately if payment is not received as described in item 4 (above). The NAFI shall have a reasonable time (not to exceed

ten (10) business days)) to make said payment.

6. The NAFI has the right to adjust future payments or initiate either an EFT reversal or an ACH debit (with REVERSAL as the entry description) for an EFT

payment amount if EFT payment previously paid is a duplicate payment, overpayment, fraudulent payment or payment error.

CONTRACTOR'S AUTHORIZED REPRESENTATIVE

SIGNATURE

DATE