MIFT definition

MIFT means a manually initiated Instruction to transfer or receive Securities and/or Cash.

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MIFT means a manually initiated Instruction to effect a transfer of assets owned by the Client or an Investor.

MIFT means the Recipient’s Ministry of Investment and Foreign Trade, or any successor thereto acceptable to the Association.

Examples of MIFT in a sentence

• The Client expressly acknowledges that it is aware that a MIFT increases the risk of error, security, privacy issues and fraudulent activities.

• If the Custodian acts on a MIFT and complies with the applicable security procedures, the Client shall be responsible for any costs, losses and other expenses suffered by the Client or the Custodian.

• If the Service Provider acts on a MIFT and complies with the applicable security procedures, the Client shall be responsible for any costs, losses and other expenses suffered by the Client or the Service Provider.

• In the event of a MIFT, Service Provider will make a confirmation call to the Client or take such other additional safeguards as may be mutually agreed.

• If the Service Provider acts reasonably on a MIFT and complies with the applicable security procedures and the standard of care under clause 6.1 of the Agreement, the Client shall be responsible for any costs, losses and other expenses suffered by the Client or the Service Provider.

• The committee will be made up of two (2) members selected by the Union (MIFT), two (2) members selected by the Paraprofessional Union, and two (2) members selected by Administration.

• If the Service Provider acts on a MIFT and complies with its security procedures (provided the Service Provider reasonably believes that such security procedures are commercially reasonable), the Client shall be responsible for any costs, losses and other expenses suffered by the Client or the Service Provider (other than those costs, losses and other expenses caused as a result of the Service Provider’s negligence, willful misconduct or bad faith).

• A hard copy of the contract will be delivered to the MIFT President and posted to the District website under the transparency icon.

• An electronic copy of the posting shall be sent via e-mail to all members of the MIFT.

• If the Service Provider acts on a MIFT and complies with the applicable security procedures, the Funds shall be responsible for any costs, losses and other expenses suffered by the Funds or the Service Provider.

More Definitions of MIFT

MIFT means a manually initiated Instruction to transfer or receive Securities and/or Cash. “NSCC” means the National Securities Clearing Corporation.