55E - RESO - AGMT - DEPOSITORY SRVS

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• Reduce costs associated with maintaining in -house print operations. • Free the City resources to focus on core competencies. • Eliminate capital investments in machinery and technology. • Rely on tested and proven disaster recovery capabilities. • Reduce the risk of fraud through advanced fraud prevention technology. The City can submit check print instruction files via: • Direct transmission • Web file upload or check direct entry through ACCESS Online We generate online file confirmations to authenticate each transaction and alert the City to any issues. Validated files are routed to one of our two advanced print facilities, and printed and mailed by the following business day. Then we print, insert and forward the checks and remittance details to you or your payees via U.S. or Canadian mail or courier. Check print requests are sanction screened prior to printing. Checks that pass sanction screening are sent downstream for print. Checks that are flagged as suspect, after the initial review, are not printed until a pass status is received. Any check that may be delayed for print is listed with a status of "pending investigation" in the online reports. Most suspect items pass after the sanction screening team reviews additional information provided by our check print system. If further information is required to complete the sanction screening, your client service professional will contact you. Once the check passes screening, it is sent for printing and mailing, and the online status is updated. Payables fraud protection services are required for check printing. Check issue information is automatically generated and sent to our account reconciliation processing (ARP) platform. Check issues are sent to all Chase teller systems across the country, to offer positive pay fraud protection and payee name match service at the teller window. Upon presentment by the payee, the item would be immediately scanned by the teller and then matched to the authorized check issuance details provided by the City. If there are any variations to the payee name details or the item was not found on our records, the encashment request would be denied and the payee would be advised to contact the City. This level of protection is just one of the many benefits you may realize in choosing J.P. Morgan as your check print outsourcing provider. Checks deposited at a Chase ATM are also screened against the positive pay records. Checks not matching your issue records will have a fund availability hold placed against the check amount, allowing for your positive pay exception review and a pay or return decision before the check amount is available to the depositor. Payee name verification is not part of the ATM positive pay review. Page 1.01 JTMorgan 55E -196