Xerox 6180N Generic MICR Fundamentals Guide  - Page 47

4. Document design Although other applications are possible, a MICR document is typically a negotiable document, very often a check. However, all types of MICR documents must be produced in accordance with the standards and methods that have been established for checks, in order for the automated payment systems to process them. Check document content A check is an unconditional order in writing that: • Is addressed by a person or legal entity to another person or legal entity. • Is signed by the person giving it. • Requires the bank to pay, on demand, a sum of money, after a specific date. The design of a check should enable anyone to quickly and easily enter and extract the necessary information. A blank check normally has the characteristics that are described in the following sections. An issued check has the same characteristics, plus the variable data: payee, date, amounts, and signature. Security features Security should be present on all negotiable documents to protect against tampering and duplication. They may be incorporated at the time the paper is manufactured or can be part of the preprinted form, and a given sheet may include features from both sources. Form production considerations are discussed in chapter 3, "Paper facts." Issues related to document design are discussed in the next section. For additional information on security paper and tampering methods, refer to "Security" chapter. Generic MICR Fundamentals Guide 4-1