Natural Persons. If the bank has no doubts that the contracting partner is identical to the beneficial owner, it is exempt from any duty according to article 27, paragraph 1. The bank has to make an appropriate note of this circumstance.
Appears in 2 contracts
Sources: Agreement on the Swiss Banks’ Code of Conduct With Regard to the Exercise of Due Diligence, Agreement on the Swiss Banks’ Code of Conduct With Regard to the Exercise of Due Diligence