Common use of Inconsistent Name and Account Number Clause in Contracts

Inconsistent Name and Account Number. Customer is responsible for the contents of each Payment Order delivered to Centier by Customer or on Customer’s behalf. Customer acknowledges and agrees that Centier and any receiving bank may rely on the account number (or bank identification number) which appears in any Payment Order issued by Customer or on Customer’s behalf without any obligation to look at the name of the receiving person, bank or account which may also appear on the Payment Order, even if that number identifies a person, bank or account different from the person, bank or account identified by name. Unless otherwise provided by applicable law or regulation, if Customer originates a Payment Order containing an inconsistent name and account number (or bank identification number), Customer acknowledges and agrees that Customer will be obligated to pay Centier the amount of the Transfer originated by Centier on the basis of that Payment Order.