Fraudulent Instruction definition

Fraudulent Instruction means an intentional, fraudulent and unauthorized instruction directed to the Insured or an Investment Adviser, that is:
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Fraudulent Instruction means any fraudulent or unauthorized written, electronic, telegraphic, cable, teletype or telephone instruction that is intended to mislead Purchaser or any other third party through the misrepresentation of a material fact related to the Products purchased or Seller. If Purchaser receives a request to modify / change any agreed upon / utilized payment process (e.g., accounts/wire instructions, updates to lock box) for its account with Seller, Purchaser must promptly direct such request to Seller and verbally receive a confirmed receipt from Seller of a test wire or payment of $1.00, prior to Purchaser accepting any changes to the payment process.
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Fraudulent Instruction means a written, electronic or oral instruction communicated directly to an employee of the Insured by a third party under False Pretenses. Provided, however, this exclusion shall not apply to Securities Claims.
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Examples of Fraudulent Instruction in a sentence

  • Except in the event of gross negligence on their part, the Company, the Manager and/or the Administrator shall not be liable for any damage, loss, expense or liability of any nature which the applicant(s) may suffer due to the reliance by the Company, the Manager and/or the Administrator on a Fraudulent Instruction which the Company, the Manager and/or Administrator believe in good faith to be genuine and to have been given or signed by the applicant(s).

  • Such Fraudulent Instruction received and, if applicable, Callback Verification performed, must be either recorded, logged, or documented by the Insured or an Investment Adviser.

  • This bond does not cover any loss resulting directly or indirectly from a Fraudulent Instruction except when covered under Insuring Agreement I.2. EE.

  • Fraudulent Instruction does not include any instruction that purports to be from a Customer unless the instruction is transmitted by a method that is authorized in the Funds Transfer Agreement between the Insured and the Customer.

  • Except in the event of gross negligence on their part, the Company and/or the Administrator shall not be liable for any damage, loss, expense or liability of any nature which the applicant(s) may suffer due to the reliance by the Company and/or the Administrator on a Fraudulent Instruction which the Company and/or Administrator believe in good faith to be genuine and to have been given or signed by the applicant(s).

  • Loss resulting directly from the Insured having, in good faith, transferred funds on deposit in a Customer’s account as a result of a Fraudulent Instruction when the Insured, prior to transferring the funds, used its reasonable best efforts to verify the identity of the person transmitting the instruction; provided that if the instruction is purported to be from a Customer, the Insured performed an Out-of- Band Verification and followed a Security Procedure with respect to such instruction.

  • Loss resulting from a Fraudulent Instruction directing a financial institution to transfer, pay or deliverMoney or Securities from the Insured’s Transfer Account.

  • Except in the event of negligence on their part, the ICAV and/or the Administrator shall not be liable for any damage, loss, expense or liability of any nature which the applicant(s) may suffer due to the reliance by the ICAV and/or the Administrator on a Fraudulent Instruction which the ICAV and/or Administrator believe in good faith to be genuine and to have been given or signed by the applicant(s).

  • The Insurer will pay the Insured for direct loss of Money or Securities resulting from a Fraudulent Instruction directing a financial institution to transfer, pay or deliver Money or Securities from the Insured Transfer Account.

  • With respect to Commercial Customers, coverage only applies if the transmittal method by which the Insured received the Fraudulent Instruction was a transmittal method authorized by the Commercial Customer in the Funds Transfer Agreement.


More Definitions of Fraudulent Instruction

Fraudulent Instruction means an intentional, fraudulent and unauthorized instruction directed to the Insured, which is:
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Fraudulent Instruction means the transfer, payment or delivery of Money or Securities by an Insured as a result of fraudulent written, electronic, telegraphic, cable, teletype or telephone instructions provided by a third party, that is intended to mislead an Insured through the misrepresentation of a material fact which is relied upon in good faith by such Insured.Fraudulent Instruction will not include loss arising out of:
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Related to Fraudulent Instruction

  • fraudulent practice means a misrepresentation of facts in order to influence a procurement process or the execution of a contract to the detriment of the Procuring Entity, and includes collusive practices among Bidders (prior to or after bid submission) designed to establish bid prices at artificial, non-competitive levels and to deprive the Procuring Entity of the benefits of free and open competition.

  • fradulent practice means a misrepresentation or omission of facts in order to influence a procurement process or the execution of contract;

  • Payment Instruction is as defined in Section 36 of the General Terms, and is further defined as the information provided by you to the Service for a bill payment to be made to the Xxxxxx (such as, but not limited to, Xxxxxx name, Xxxxxx account number, and Scheduled Payment Date).

  • Disbursement Instruction Agreement means an agreement substantially in the form of Exhibit B to be executed and delivered by the Borrower pursuant to Section 6.1.(a), as the same may be amended, restated or modified from time to time with the prior written approval of the Administrative Agent.

  • Margin of purchase preference means the maximum extent to which the price quoted by a local supplier may be above the L1 for the purpose of purchase preference.

  • Fraud means any offence under laws creating offences in respect of fraudulent acts or at common law in respect of fraudulent acts in relation to the Contract or defrauding or attempting to defraud or conspiring to defraud the Crown.