Common use of Reliance on Identifying Numbers and Other Information Clause in Contracts

Reliance on Identifying Numbers and Other Information. The Credit Union may rely, without incurring liability to you, on information (including names, amounts and account numbers) provided by you and/or your Authorized Users on the Authorization, in the Payment Order or otherwise when executing or otherwise processing a Payment Order, even if such information is incorrect. The Credit Union may, in such circumstances, charge your Account(s) and assess Customer with Obligations. Accordingly, you understand that when a Payment Order identifies by name and number a beneficiary financial institution, intermediary financial institution or beneficiary, the Credit Union and every receiving or beneficiary financial institution may rely on the identifying number to make payment, regardless of whether the number matches the named financial institution, person or account. You are responsible for immediately providing the Credit Union with updated Authorization forms reflecting any changes in authorization of your personnel.

Reliance on Identifying Numbers and Other Information. The Credit Union may rely, without incurring liability to youMember, on information (including names, amounts and account numbers) provided by you Member and/or your its Authorized Users on the Authorization, in the Payment Order or otherwise when executing or otherwise processing a Payment Order, even if such information is incorrect. The Credit Union may, in such circumstances, charge your Member's Account(s) and assess Customer Member with Obligations. Accordingly, you understand Member understands that when a Payment Order identifies by name and number a beneficiary financial institution, intermediary financial institution or beneficiary, the Credit Union and every receiving or beneficiary financial institution may rely on the identifying number to make payment, regardless of whether the number matches the named financial institution, person or account. You are Member is responsible for immediately providing the Credit Union with updated Authorization forms reflecting any changes in authorization of your Member's personnel.