Authorisation and Security Clause Samples

Authorisation and Security. 4.5.1 The customer authorises the Bank to carry out any and all instructions given via the facility, including the debiting of and transfer of funds from the account by way of the Caribbean Union Bank’s Internet Banking interface, and the furnishing of information on the accounts, provided that the instructions are authenticated by the use of: 4.5.1.1 The customer’s username; 4.5.1.2 The customer’s password; 4.5.1.3 The customer’s transaction password; 4.5.1.4 Any other procedures which may be agreed to in writing between the customer and the Bank. 4.5.2 On request of paying of accounts/third party payments, the customer will not hold the Bank responsible for any loss, damage or liability which may arise out of the non-payment or late payment of any account for which a payment instruction has been given to the Bank, or which may arise out of the failure or unavailability of the third party’s facilities or systems, or the inability of any third party to process a transaction. 4.5.3 The customer indemnifies the Bank in respect of any loss or damage or claim that may be instituted against the Bank arising from non -payment or late payment in this respect. For purposes of this clause, “third party”, includes, without limitation, any Electronic Clearing House (ECH) and all other financial institutions where the destination accounts are kept. 4.5.4 The customer accepts the financial limits imposed on transfer and collection of funds, which limits may be altered at any time by the Bank. 4.5.5 It is the customer's responsibility to control and restrict access to the facility. The Bank will supply the customer with the means to register customer’s passwords for each nominee. All nominees, accompanied by the customer, will need to call on the branch, identify themselves and select an individual customer password. The customer can change his/her password on the site or by giving written instructions to the Bank at any time. It is the customer's responsibility to ensure that the customer’s passwords supplied to nominees are changed regularly. 4.5.6 The customer must keep the details of his password secret. The customer must not disclose his password, thereby giving access to any unauthorised person. The customer must notify the Bank immediately on becoming aware that his customer password may have fallen into the hands of an unauthorised person. In the event that a customer believes that his customer password has been taken or used without authorization or permission,...