Common use of Reliance on Instruction Clause in Contracts

Reliance on Instruction. The Instruction, notices or other communications (whether given orally or in writing) of the Client or the Authorized Person shall be a full, sufficient and immediate authority for GTJAF. GTJAF may, at its absolute discretion, rely upon and act in accordance with any Instruction, notices or other communications which may be given or made or purported to be given or made by telephone or in writing, and which it believes to have emanated from the Client or an Authorized Person for and on behalf of the Client. GTJAF shall not be under any duty to verify the identity or authority of the persons giving or making or purporting to give or make the Instruction, notices or communications. GTJAF shall be entitled (but not bound) to act on or take such steps in connection with or in reliance upon such Instruction, notices or communications as GTJAF may consider appropriate regardless of the nature of the transaction or agreement or the value, type and quantity of Derivatives involved and notwithstanding any error or misunderstanding, whether apparent or actual, in the terms of such Instruction, notices or communications. All Instruction or orders whether made by telephone, cable, facsimile transmission, internet transmission, electronic mail, mail, orally or otherwise are transmitted at the Client's risks.