Common use of Identifying Number Clause in Contracts

Identifying Number. Customer is notified and acknowledges and agrees that: (i) if Instructions identify the beneficiary by both a name and an identifying number and the name and number identify different persons, execution of the Wire Transfer, or payment to the beneficiary may be made solely on the basis of the identifying number, or AB&T may refuse to execute such Instruction; and (ii) if Instructions identify any financial institution by both a name and an identifying number and the name and number identify different financial institutions, any financial institution may rely solely on the identifying number to identify the financial institution with respect to the Instructions. Customer shall be solely liable for any claims, expenses, losses or damages resulting from the inconsistency of names and identifying numbers in Instructions.