Common use of Dual Control Clause in Contracts

Dual Control. For purposes of segregation of duties and internal controls, you can choose to use the tools available in FC Services to set up and use dual control with the Services. The following FCS Services are available for dual control: manually entering Check Issue Data online, Issue File Upload, Decisioning Positive Pay Suspects, and Decisioning Reverse Positive Pay Presented Items.Dual control means it will take two persons to act, one to input information and the other to release it to SVB. With Dual Control enacted, you agree to access our Online Banking Services with one set of access credentials to enter information, but then to use another person to login for a second session with a second set of access credentials to submit the instructions to us. If you have elected to use dual control through the FC Services, but this process is not completed by both persons by our posted cut-off time on the day a Suspect List is made available to you, you authorize and direct us to use your Payment Default Option with respect to all items on said Suspect List. You agree that any loss, harm or damage suffered by you as a result of your failure to implement dual control procedures offered by us will be your loss, harm or damage and that we will not be responsible for the loss, harm or damage to the extent that implementation and proper use of the dual control tool would have prevented the same.

Dual Control. For purposes of segregation of duties and internal controls, you can choose to use the tools available in FC Services to set up and use dual control with the Services. The following FCS Services are available for dual control: Check issue records, including manually entering Check Issue Data online, ; Check Issue File Upload, Upload and Direct Transmission of check issue files; Decisioning Positive Pay Suspects, Exceptions and Decisioning Reverse Positive Pay Presented Items.Items (only for decisions whether to pay); and Decisioning ACH Debit Entries and ACH Credit Entries (only for decisions whether to pay). Dual control means it will take two persons to act, one to input information (including file transmission) and the other to release it to SVBapprove before the action will proceed. With Dual Control enacted, you agree to access our Online Banking Services with one set of access credentials to enter information, information but then to use another person to login for a second session with a second set of access credentials to submit the instructions to us. If you have elected to use dual control through the FC Services, but this process is not completed by both persons by our posted cut-off time on the day a Suspect List the Transaction History is made available to you, you authorize and direct us to use your Payment Default Option with respect to all items on said Suspect ListTransaction History. You agree that any loss, harm harm, or damage suffered by you as a result of your failure to implement dual control procedures offered by us will be your loss, harm or damage and that we will not be responsible for the loss, harm or damage to the extent that implementation and proper use of the dual control tool would have prevented the same.

Dual Control. For purposes of segregation of duties and internal controls, you can choose to use the tools available in FC Services to set up and use dual control with the Services. The following FCS Services are available for dual control: manually entering Check Issue Data online, Issue File Upload, Decisioning Positive Pay Suspects, and Decisioning Reverse Positive Pay Presented Items., Decisioning ACH Reverse Positive Pay Entries and Establishing ACH Authorization Rules. Dual control means it will take two persons to act, one to input information and the other to release it to SVB. With Dual Control enacted, you agree to access our Online Banking Services with one set of access credentials to enter information, but then to use another person to login for a second session with a second set of access credentials to submit the instructions to us. If you have elected to use dual control through the FC Services, but this process is not completed by both persons by our posted cut-off time on the day a Suspect List is made available to you, you authorize and direct us to use your Payment Default Option with respect to all items on said Suspect List. You agree that any loss, harm or damage suffered by you as a result of your failure to implement dual control procedures offered by us will be a your loss, harm or damage and that we will not be responsible for the loss, harm or damage to the extent that implementation and proper use of the dual control tool would have prevented the same.