Common use of Partnership Accounts Clause in Contracts

Partnership Accounts. 3.1 All partners will be liable (individually and together) for any money due to us. 3.2 Each Card, PIN and Personal Security Details are personal to the individual partner. Each partner must not let the other partner(s) use them. Where we send statements, we will only send one statement unless you tell us in writing that you require more than one partner to receive a copy of each statement. Where we make statements available, we will make them available to all partners. 3.3 You must notify us immediately if there is any change in the constitution of the partnership. 3.4 Notice to close the account under Condition 19 in Section A can be given by any partner or by the executors, personal representatives or trustees of a deceased or outgoing partner. However, if you have chosen for all partners to sign on the account, all partners must give the notice under Condition 19 in Section A. 3.5 If a partner ceases to be a member of the partnership, including as a result of death, we will treat the other partners as having full power to carry on the partnership business and they can continue to operate the account unless we receive written notice to the contrary. The account won‘t be considered part of the deceased person‘s estate. Notice can be given by any partner or by the executors, personal representatives or trustees of the outgoing or deceased partner. If only one partner remains, we may block the account until you have appointed a second partner. If you do not wish to appoint a second partner, you should open a new account for sole traders, into which we can transfer the funds. 3.6 If there is a dispute between the members of a partnership, the account shall continue to operate in accordance with the operating instructions provided to us, until such time as we are notified differently. Your right to operate your account is conditional upon us not receiving any notice of dispute between any of you. If one of you tells us of a dispute between you, we may treat this as notice of cancellation of the authority by all of you to operate the account on your own, in which case: a) any new instruction on your account (including Payment Instructions for new standing orders or Direct Debits) will need the authority of all of you; b) we may suspend certain services on your account including Online Banking; c) we may require the return of any Card used on the account. Until all the Cards are returned, all transactions (including those carried out via self-service machines) will continue to be deducted from the account; and d) you will remain liable to us individually and jointly for your account.

Partnership Accounts. 3.1 All partners will be liable (individually and together) for any money due to us. 3.2 Each Card, PIN and Personal Security Details are personal to the individual partner. Each partner must not let the other partner(s) use them. Where we send statements, we will only send one statement unless you tell us in writing that you require more than one partner to receive a copy of each statement. Where we make statements available, we will make them available to all partners. 3.3 You must notify us immediately if there is any change in the constitution of the partnership. 3.4 Notice to close the account under Condition 19 in Section A can be given by any partner or by the executors, personal representatives or trustees of a deceased or outgoing partner. However, if you have chosen for all partners to sign on the account, all partners must give the notice under Condition 19 in Section A. 3.5 If a partner ceases to be a member of the partnership, including as a result of death, we will treat the other partners as having full power to carry on the partnership business and they can continue to operate the account unless we receive written notice to the contrary. The account won‘t won't be considered part of the deceased person‘s person's estate. Notice can be given by any partner or by the executors, personal representatives or trustees of the outgoing or deceased partner. If only one partner remains, we may block the account until you have appointed a second partner. If you do not wish to appoint a second partner, you should open a new account for sole traders, into which we can transfer the funds. 3.6 If there is a dispute between the members of a partnership, the account shall continue to operate in accordance with the operating instructions provided to us, until such time as we are notified differently. Your right to operate your account is conditional upon us not receiving any notice of dispute between any of you. If one of you tells us of a dispute between you, we may treat this as notice of cancellation of the authority by all of you to operate the account on your own, in which case: a) any new instruction on your account (including Payment Instructions for new standing orders or Direct Debits) will need the authority of all of you; b) we may suspend certain services on your account including Online Banking; c) we may require the return of any Card used on the account. Until all the Cards are returned, all transactions (including those carried out via self-service machines) will continue to be deducted from the account; and d) you will remain liable to us individually and jointly for your account.