Dual Controls definition

Dual Controls means measures which require cross checking or accounting by at least two people, which restrict access of funds to no less than two individuals, which segregate duties or money handling procedures with checks and balances.
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Examples of Dual Controls in a sentence

  • You hereby agree to establish those Dual Controls, and you hereby agree to indemnify and hold us harmless against all losses or liabilities that we may suffer or incur that could have otherwise been eliminated, avoided, prevented or mitigated had you implemented those Dual Controls.

  • In addition, WE REQUIRE that you implement Dual Controls available within your Treasury Internet Banking Service for the following functions: initiating and approving payment orders; initiating and approving payment templates; designating or changing Accounts associated with the Service; establishing or modifying Administrators and Authorized Users and their respective Access Credentials and functional entitlements.

  • Even when Dual Controls are not required by this Agreement, your failure to use available Dual Control features may constitute negligence, in which you shall be responsible for resulting losses which could have been prevented by having Dual Control features in place.

  • You acknowledge that the above security procedure may offer fewer controls than our standard ACH processing service whereby you manually enter ACH entry instructions into Treasury Internet Banking after log-in via Access Credentials, with Dual Controls.

  • WE REQUIRE that you implement Dual Controls available within your Business Online Banking service for the following functions: initiating and approving ACH and Wire payment orders and approving payment templates.

  • Segregation of Duties and Dual Controls Duties and areas of responsibility of Service Provider’s Staff shall be segregated to reduce opportunities for unauthorized or unintentional modification or misuse of Service Provider Systems or Information.

  • Dual Controls and T ransaction Limits The dual controls and transaction limits described in this ACH Services Agreement and its Schedules also constitute security procedures required to process ACH credit or debit transactions.

  • Dual Controls: the use of a system whereby a Senior Administrator or Authorized User is given entry authorization to provide instructions to the Bank.

Related to Dual Controls

  • Institutional Controls or “ICs” shall mean Proprietary Controls and state or local laws, regulations, ordinances, zoning restrictions, or other governmental controls or notices that: (a) limit land, water, or other resource use to minimize the potential for human exposure to Waste Material at or in connection with the Site; (b) limit land, water, or other resource use to implement, ensure non-interference with, or ensure the protectiveness of the RA; and/or (c) provide information intended to modify or guide human behavior at or in connection with the Site.

  • Interim controls means a set of measures designed to temporarily reduce human exposure or likely exposure to lead-based paint hazards, including specialized cleaning, repairs, maintenance, painting, temporary containment, ongoing monitoring of lead-based paint hazards or potential hazards, and the establishment and operation of management and resident education programs.

  • Engineering controls means constructed containment barriers or systems that control one or more of the following: downward migration, infiltration, or seepage of surface runoff or rain; or natural leaching migration of contaminants through the subsurface over time. Examples include caps, engineered bottom barriers, immobilization processes, and vertical barriers.

  • Internal Controls has the meaning set forth in Section 4.07(d).

  • Controls have meanings correlative thereto.)