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• Next -Day Settlement option for transfers to /from J.P. Morgan accounts. <br />• Option to create addendum record for all payments. <br />Originating Transactions through Patch File <br />Transmissions <br />• Using any one of industry standard NACHA file formats (e.g., ARC, CCD <br />or PPD), the City sends the file to J.P. Morgan through a common <br />protocol, such as secure file transfer protocol (SFTP). <br />• The transmission is encrypted and sent to J.P. Morgan for final ACH <br />processing. <br />• Regular commercial payments to vendors can be submitted on the <br />business day prior to the value date. The City can also warehouse ACH <br />payments for up to go days in advance of the value date for direct. <br />• Once received, J.P. Morgan's ACH system helps bolster data integrity and <br />file edit checks to identify potential duplicate files. <br />• The bank provides a transaction journal within two hours of receipt of <br />ACH file initiation transmission, including item count and dollar amount. <br />• J.P. Morgan will maintain an Internet - facing SFTP server and will create <br />a "drop box" directory on the server for the City. The server will be <br />mirrored for disaster recovery. <br />• The City will be issued a logon and password, giving the City access to the <br />directory. <br />• For inbound data, the City can push files to the directory. The City is <br />responsible for initiating the SFTP session to push and pull data files. <br />• J.P. Morgan offers a file delivery solution allowing the City to send and <br />receive ACH files using SSL session encryption, browser -based file <br />exchange (HTTPS), SFTP with PGP (Pretty Good Privacy) or GNUPG <br />(GNU Privacy Guard) file encryption or AS2 (Applicability Statement 2). <br />• These delivery methods leverage the Internet and readily available <br />software packages to make transferring files simple and secure without <br />the added cost of proprietary software installation. <br />• Additional file transfer solutions, such as VAN (virtual area network) and <br />VPN (virtual private network), are supported. <br />The bank recommends that large batch files containing any consumer credits be <br />submitted at least two business days prior to the settlement date. <br />Page 70 J, C: Morgan <br />55E -165 <br />