Responsibilities for Security Clause Samples
The 'Responsibilities for Security' clause defines the obligations of each party to maintain and protect the security of data, systems, or premises involved in the agreement. Typically, this clause outlines specific security measures that must be implemented, such as encryption, access controls, or regular security audits, and may assign responsibility for reporting and responding to security breaches. Its core function is to ensure that both parties understand and adhere to agreed-upon security standards, thereby reducing the risk of data breaches and clarifying accountability in the event of a security incident.
Responsibilities for Security. 36.1 The Customer shall exercise reasonable care, take reasonable precautions and (where any Authorised Signatory, attorney or other agent is appointed) establish adequate controls and security arrangements to prevent unauthorised fund withdrawal Instructions or other misuse of or forgery in relation to any Account, Service, or other services or products provided (as applicable). The Customer must notify the Bank immediately upon becoming aware of any actual or possible unauthorised use, misuse, or forgery. The Bank does not assume any liability or responsibility to the Customer or any third party for the consequences arising out of or in connection with such actual or possible unauthorised use, misuse, or forgery, save only for direct losses to the extent directly due to negligence wilful misconduct or fraud by the Bank or its employees.
Responsibilities for Security a. I agree to duly acknowledge receipt of my Password Mailer as per the method set out in the Application form as per the requirement of the Bank. I also agree that the Bank has a right to retain my NSB Internet Banking Facility User ID in disabled status until proper acknowledgement is received from me by the Bank.
b. I am aware that it is my responsibility to obtain and maintain any equipment which may be necessary for the use of NSB Internet Banking Facility in proper working condition with adequate safeguards against malicious threat to such equipment or to NSB Internet Banking Facility.
c. I undertake not to access NSB Internet Banking Facility using defective or insecure equipment or by any manner which might adversely affect the NSB Internet Banking Facility.
d. I do hereby agree to change the password assigned to me on first accessing the NSB Internet Banking Facility and thereafter at the end of every 03 month period.
e. I will set up and maintain adequate measures to safeguard the NSB Internet Banking Facility (including all information and data related to payment beneficiaries) from disclosure to and from access or use by, anyone who is not authorized to do so.
f. I undertake that I shall inform the Bank immediately if I am aware of any unauthorized use of the User ID and passwords by anyone.
Responsibilities for Security. 2.1 The Company agrees to duly acknowledge the receipt of its Password Mailer according to the Bank’s requirements. The company also agrees tat Bank has a right to retain the Company’s BoCiNet User ID in disabled status till the Bank receives proper acknowledgement from the Company.
2.2 The Company is aware that it is the Company’s responsibility to obtain and maintain any equipment, which may be necessary for using BoCiNet, in proper working condition and with adequate safeguards against malicious threats to such equipment or to BoCiNet.
2.3 The Company undertakes not to access BoCiNet service using defective or insecure equipment, or by any manner which might adversely affect BoCiNet service.
2.4 The Company does hereby agree to the change, from time to time the Password/s assigned to the Company at the Bank’s discretion.
2.5 The Company will set up and maintain adequate measures to safeguard the BoCiNet Service (including all information and data relating to payment beneficiaries) from disclosure to, and from access or use by, anyone who is not authorized to do so.
2.6 The Company shall inform the Bank immediately if it becomes aware of any unauthorized use of the User ID and Passwords by anyone.