Common use of RECORD PRESERVATION Clause in Contracts

RECORD PRESERVATION. Both the Bank and the Undersigned shall preserve records of the electronic documents of all transaction instructions, and shall ensure the authenticity and integrity of such records. For the preservation of the records described in the preceding Paragraph, the Bank shall fulfill its duty as a good administrator with due care. The preservation period shall be at least 5 years. However, where other laws specify a longer preservation period, such other laws shall prevail.

Appears in 3 contracts

Sources: Account Opening Master Agreement, Account Opening Master Agreement, Account Opening Master Agreement