Canadian Payments Association By-law No. 3 — Payment Items and Automated Clearing Settlement System

Marginal note:Exception

13 Despite sections 11 and 12, if a clearing agent has affixed its stamp, trace number or other identification to a payment item on behalf of an indirect clearer, the clearing agent is not required to provide the missing necessary endorsement or to reimburse the amount of the payment item if the request for it is made after the clearing agent has ceased to act as such for the indirect clearer.