1. UTA’s required forms for merchants specifically in the Automotive Industry

When processing checks, drafts, or electronic funds transfers, it is IMPORTANT to remember that certain transactions require specific forms to be completed and signed.

Note: In some instances, more than one form may be required depending on the nature of the deal/transaction.

-Third Party Form: A transaction is considered a third party transaction when the payor/account holder is different than the purchaser of the goods and not a party to the transaction. This applies to both personal and business transactions. With these types of transactions a “third party” form is required.

Note: When processing third party transactions for authorization, the information and identification used to obtain the approval must be that of the account holder

-Hold Check/Delayed Transaction Form: All hold check/delayed transactions (checks, drafts, or electronic funds transfers) approved by UTA, must have a completed and signed Hold Check Form.

The hold check form is the binding agreement between the purchaser, account holder, merchant, and UTA that establishes the deposit requirements any time a payment is issued where there is an agreement to process said payment at a future date.

-No Financing Form:A No Financing Form must be completed and signed by all parties involved with the purchase of a vehicle when there is no financing on the deal. This may be for the full purchase price of the vehicle or any amount due net of rebates, trade, cash or credit card payments. The No Financing form is intended to give UTA the legal rights to secure collateral which could minimize the potential loss on a return check.

2. Reminder when processing ACH/RDC transactions

The following applies to all Merchants, all Industries using one of our money moving-programs

When processing ACH type transactions

All ACH transactions processed for approval via UTA’s ACHG products (ITRANZ/WEB), MUST be stamped VOID and returned to the check writer. *Excluding checks processed under Verification Only locations. In the event the check writer is not present, you must destroy the check immediately!

Upon receiving an approval, print the ACH Authorization Form or Transaction Receipt. The customer must sign the receipt, providing consent to initiate an ACH transaction. File one copy with the deal/sale and give the other copy to the customer. NOTE: In the event of a cancellation of a transaction, where the transaction has not yet batched, You MUST notify your business office IMMEDIATELY so they may VOID the check/transaction.

When processing RDC type transactions

The check must be filled out completely and signed before scanning it through the terminal. NOTE: All checks processed for approval via UTA’s RDCG products (ITRANZ/WEB), MUST be stamped VOID and returned to the check writer. *Excluding checks processed under Verification Only locations. In the event the check writer is not present, you must destroy the check immediately!

NOTE: In the event of a cancellation of a transaction, where the transaction has not yet batched, You MUST notify your business office IMMEDIATELY so they may VOID the check/transaction.

If you have any other questions, please reach out to your relationship manager at 1.800.858.5256.