Common use of Processing and Records Clause in Contracts

Processing and Records. Our records respecting the time of presentment, payment or dishonour of any Instrument will be conclusive evidence of same. You may be required to complete or execute additional documentation in connection with certain Transactions. In such case, the timing and our ability to process such Transactions may depend on when we receive all required documentation. Any Transactions or any update of records of Transactions made on a weekend or non-business day may be processed by us on our next business day in the affected jurisdiction. We may decline or delay acting on any instruction for any Transaction (including any post-dated Transactions) for any reason, including, but not limited to, if instructions are incomplete, ambiguous, or cannot be processed due to insufficient funds or limits imposed by us or otherwise, or if the authenticity or lawfulness of any instruction is doubted. You agree that instructions acted upon by us will, in the absence of our gross negligence or wilful misconduct, be conclusively deemed to be valid instructions given or made by you, whether or not authorized by you and whether or not accurately communicated or received. You acknowledge and agree that we may request additional information in connection with certain Transactions, including without limitation information regarding the sender or recipient or other parties to a certain Transaction whether our request is made before or after the Transaction is processed, and that you will provide us with such information in a timely manner. If we require additional information prior to processing a Transaction, the timing and our ability to process such Transactions may depend on when we receive all required information. We may report any improper or unauthorized activity that is in any way connected to the Account(s) to any law enforcement agency or credit reporting agency. At our sole discretion, we may verify any communications or the source of a communication before we accept or act on them. We are not liable for any instructions or communications that are not accepted, or for delays in acting upon any instructions or communications. Our records will be conclusive evidence of your communications. You consent to us recording your verbal communications with us. Any Transaction information that you may receive is solely for your convenience in keeping your banking records. In the event of any dispute as to the accuracy of any such information, our decision based upon our internal records will be conclusive and binding on you.