printing was introduced to the check printing industry
as a result of the Check Clearing for the 21st Century
Act, also known as Check
Signed on October 28, 2003 the Act went into effect on
October 28, 2004. IRD which stands for Image Replacement
Document is also referred to as a substitute check and
is the new negotiable instrument of the 21st Century.
ANSI (American National Standards Institute) has worked to create specifications for an Image Replacement Document. The specifications are documented in the X9.100-140-2004 standard.
According to the act, if the document meets the acts requirements,
then it is the legal equivalent of the original paper check.
IRDs are paper reproductions that contain both a front and back image
of the original check and are printed by either a financial institution
or check clearing house. With all of the functionality of a check
each IRD contains a MICR (Magnetic Ink Character Recognition) line containing all of the information from the original check.
are that a fully image enabled clearing process will one day be the
industry standard. However, industry experts anticipate that a
fully image enabled clearing process is still several years away.
IRD printing has been created as a way to help streamline the check
clearing process and allow banks to transition to check image exchange
during the interim period.
TROY provides all of the components necessary for IRD Printing including: