Common use of Customer’s Instructions Clause in Contracts

Customer’s Instructions. Customer, and any User, must accurately describe transaction beneficiaries, intermediary financial institutions, and the beneficiary’s financial institution in transfer and payment instructions. If Customer or any User describes any beneficiary or institution inconsistently by name and number, the Bank may process the transaction solely on the basis of the number, even if the number identifies a person or entity different from the named beneficiary or institution. Customer agrees to supply the Bank, upon demand, any other information that the Bank may reasonably request, including, but not limited to, money amounts, accounts to be affected, date of transfers, supplemental instructions, and further evidence of any User’s authority to transfer funds or to do any other act contemplated under is Agreement. Customer represents and warrants that any transaction contemplated by this Agreement will not be in violation of state or federal law and that all formalities will be followed with respect to each transfer of funds, including but not limited to, proper authorization of individual transactions and any record keeping requirements with respect thereto.