§ 355.5. What warranties does a presenting bank make?
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/us/cfr/t31/s§ 355.5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A presenting bank makes the warranties required of a sender under subpart A of regulation J (12 CFR part 210). This paragraph does not limit any warranty by a presenter or other party arising under State law.
(b)We are not barred from recovering on a breach of warranty solely because:
(1)Our negligence contributed to a fraudulent endorsement or material alteration;
(2)We did not promptly discover an unauthorized signature or alteration;
(3)An impostor fraudulently caused the issuance of a fiscal agency check in the name of any existing payee; or
(4)Our employee fraudulently caused the issuance of a fiscal agency check in the name of any existing payee.
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- 12 CFR 210
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§ 355.5
What warranties does a presenting bank make?
Cite12 CFR 210
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