Common use of Multiple Signatures Clause in Contracts

Multiple Signatures. We have no duty to enforce multiple signature requirements that you may agree among yourselves, whether or not we have notice of such requirements. We are not required to honor your request for more than one Authorized Signer on any item or order for withdrawal drawn on your account. You acknowledge and understand that we do not physically examine each check to determine if it is properly signed. If we do expressly agree in writing to require multiple signatures for a withdrawal order, you acknowledge that you have a continuing duty to review statements as set forth in the "Duty to Review Your Statements" section. If you do not report a missing signature to us within 30 days (14 days for businesses) from the receipt of the first statement containing an item with a missing signature, each item signed by one Authorized Signer thereafter shall be deemed approved by you for payment. An additional fee may be charged for an account which requires multiple signatures.