Table of Contrail
The majority of the TeleCheck business involves the guarantee of checks received by merchants. If the chock is returned. TeleCheck is
required to purchase the cheek from ... liability is relieved and
revenue is recognized when the check clears, is presented to TeleCheck, or the guarantee period expires. The majority of the guarantees arc settled
within 30 days ... December 31. 2014 and 2013. The following table details the check
guarantees of TeleCheck.
Year ended December 31,
2014 2013 2012
Aggregate face value of guaranteed checks (in billions