Forgery or Alteration Clause Samples

Forgery or Alteration a. The Insurer shall pay for loss resulting directly from Forgery or alteration of checks, drafts, promissory notes, or similar written promises, orders or directions to pay a sum certain in Money that are: (i) made or drawn by or upon the Insured; or (ii) made or drawn by one acting as an agent of the Insured; or that purport to have been so made or drawn. b. If the Insured is sued for refusing to pay any instrument covered in paragraph 2.a. above on the basis that it has been forged or altered, and the Insured has the Insurer’s written consent to defend against the suit, the Insurer shall pay for any reasonable legal expenses that the Insured incurs and pays in that defense. The amount that the Insurer shall pay for such legal expenses is in addition to the Limit of Liability applicable to this Insuring Agreement.

Forgery or Alteration. Loss resulting directly from the Insured having, in good faith, paid or transferred any Property in reliance on any 1. Negotiable Instrument (except an Evidence of Debt); 2. Certificate of Deposit; 3. Letter of Credit;

Forgery or Alteration. Loss resulting directly from: 1. Forgery or alteration of, on or in any: a. request made for a change of beneficiary in any policy issued by the Insured; b. policy Loan agreement made with the Insured; c. assignment to the Insured of any of its policies; or d. Negotiable Instruments (except Evidences of Debt or Substitute Checks), Acceptances, Withdrawal Orders, Written receipts for the withdrawal of Property, Certificates of Deposit or Letters of Credit. 2. transferring, paying or delivering any funds or Property, or establishing any credit or giving any value on the faith of any Original Written instructions or advices directed to the Insured and authorizing or acknowledging the transfer, payment, delivery or receipt of funds or Property, which instructions or advices purport to have been signed or endorsed by any customer of the Insured or by any Financial Institution, but which instructions or advices either bear a signature which is a Forgery or have been altered without the knowledge and consent of such customer or Financial Institution. SPECIMEN 3. transferring, paying or delivering any funds or Property in good faith reliance upon any Substitute Check that is altered or which bears a copy of a handwritten signature of any maker or drawer which is a Forgery.

Forgery or Alteration. Loss through FORGERY or ALTERATION of, on or in any bills of exchange, checks, drafts, acceptances, certificates of deposit. promissory notes, or other written promises, orders or directions to pay sums certain in money, due bills, money orders, warrants, orders upon public treasuries, letters of credit, written instructions, advices or applications directed to the Insured, authorizing or acknowledging the transfer, payment, delivery or receipt of funds or Property, which instructions or advices or applications purport to have been signed or endorsed by any customer of the Insured, shareholder or subscriber to shares, whether certificated or uncertificated, of any Investment Company or by any financial or banking institution or stockbroker but which instructions, advices or applications either bear the forged signature or endorsement or have been altered without the knowledge and consent of such customer, shareholder or subscriber to shares, whether certificated or uncertificated, of an Investment Company, financial or banking institution or stockbroker, withdrawal orders or receipts for the withdrawal of funds or Property, or receipts or certificates of deposit for Property and bearing the name of the Insured as issuer, or of another Investment Company for which the Insured acts as agent, excluding, however, any loss covered under Insuring Agreement (F) hereof whether or not coverage for Insuring Agreement (F) is provided for in the Declarations of this bond. Any check or draft (a) made payable to a fictitious payee and endorsed in the name of such fictitious payee or (b) procured in a transaction with the maker or drawer thereof or with one acting as an agent of such maker or drawer or anyone impersonating another and made or drawn payable to the one so impersonated and endorsed by anyone other than the one impersonated, shall be deemed to be forged as to such endorsement. Mechanically reproduced facsimile signatures are treated the same as handwritten signatures.

Forgery or Alteration. Subject to the terms, conditions and exclusions applicable to this Coverage Part, ▇▇▇▇ will pay all losses which the Named Member shall sustain through Forgery or alteration of, on or in any check, draft, promissory note, or similar written promise, order or direction to pay a sum certain in Money, made or drawn by or drawn upon the Named Member, or purporting to have been made or drawn. If the Named Member shall refuse to pay any of the foregoing instruments made or drawn as herein before set forth, alleging that such instruments are forged or altered, and such refusal shall result in suit being brought against the Member to enforce such payment and ▇▇▇▇ shall give its written consent to the defense of such suit, then any reasonable attorney’s fees, court costs, or similar legal expenses incurred and paid by the Named Member in such defense shall be construed to be a loss under this Coverage Agreement and the liability of ▇▇▇▇ for such loss shall be in addition to any other liability under this Coverage Agreement.