Common use of Electronic Security Clause in Contracts

Electronic Security. You are solely responsible for maintaining adequate security and control over your Access IDs, passwords and computer systems. You agree to keep your Access IDs and passwords secret and prevent unauthorized access to your computer systems. You agree to notify SFB immediately if your Access IDs or passwords are lost or stolen or if you believe someone else has discovered your Access IDs or passwords or if you suspect there has been a breach of your computer system. You should change your Access IDs and passwords whenever you believe that security of your Access IDs or passwords has been compromised. SFB also recommends that you regularly change your Access IDs and passwords. SFB is authorized to act on, to release your account information to, and to accept as your authentic instructions, any instructions given to SFB by any person who has entered an Access ID and password assigned to you. If a security breach occurs, unless our internal security is proved to have been breached, there shall be a presumption that your security has been breached. Online Access: You agree that any one owner on an account may request SFB to make online banking services available with respect to that account. Once online banking services are available to a person, that person will be able to access all accounts on which that person is an owner.