Common use of Payment Orders Failing to Identify Beneficiary's Banks or Intermediary Banks Clause in Contracts

Payment Orders Failing to Identify Beneficiary's Banks or Intermediary Banks. a. If no Beneficiary's Bank or Intermediary Bank is identified: If a Payment Order does not designate the Beneficiary's bank intended to receive such Payment Order, the Bank will not attempt to identify the bank where the Beneficiary maintains an account and will seek further instructions from you prior to acting on the Payment Order. Where appropriate, the Bank will select an Intermediary Bank and you agree that the Bank will have no liability with respect to such selection. b. Use of Correspondents, Agents, and Systems: You agree that in executing any Payment Order, the Bank may make use of correspondents, agents, sub-agents, and fund transfer and communications systems. To the full extent permitted by law: (i) such correspondents, agents, sub-agents, and systems will be deemed to be your agents and the Bank will not be under any liability for any errors, negligence, suspension or default of any of them or for any failure to identify the Beneficiary or any mispayment by any of them; and

Payment Orders Failing to Identify Beneficiary's Banks or Intermediary Banks. a. If no Beneficiary's Bank or Intermediary Bank is identified: If a Payment Order does not designate the Beneficiary's bank intended to receive such Payment Order, the Bank will not willnot attempt to identify the bank where the Beneficiary maintains an account and will seek further instructions from you prior to acting on the Payment Order. Where appropriate, the Bank will select an Intermediary Bank and you agree that the Bank will have no liability with respect to such selection. b. Use of Correspondents, Agents, and Systems: You agree that in executing any Payment Order, the Bank may make use of correspondents, agents, sub-agents, and fund transfer and communications systems. To the full extent permitted by law: (ilaw:(i) such correspondentssuchcorrespondents, agents, sub-agents, and systems will be andsystems willbe deemed to be your agents and the Bank will not be under any liability for any errors, negligence, suspension or default of any of anyof them or for any failure to identify the identifythe Beneficiary or any mispayment by any of them; andand (ii) the Bank will not be liable for any errors, mutilations, delay, misdelivery or failure of delivery in the transmission of any Payment Order or for any suspension of any means of communication or for any imposition of anycensorship, exchange control or other restriction, all such riskbeing borne by you.

Payment Orders Failing to Identify Beneficiary's Banks or Intermediary Banks. ‌ a. If no Beneficiary's Bank or Intermediary Bank is identified: If a Payment Order does not designate the Beneficiary's bank intended to receive such Payment Order, the Bank will not attempt to identify the bank where the Beneficiary maintains an account and will seek further instructions from you prior to acting on the Payment Order. Where appropriate, the Bank will select an Intermediary Bank and you agree that the Bank will have no liability with respect to such selection. b. Use of Correspondents, Agents, and Systems: You agree that in executing any Payment Order, the Bank may make use of correspondents, agents, sub-agents, and fund transfer and communications systems. To the full extent permitted by law: (i) such correspondents, agents, sub-agents, and systems will be deemed to be your agents and the Bank will not be under any liability for any errors, negligence, suspension or default of any of them or for any failure to identify the Beneficiary or any mispayment by any of them; andand (ii) the Bank will not be liable for any errors, mutilations, delay, misdelivery or failure of delivery in the transmission of any Payment Order or for any suspension of any means of communication or for any imposition of any censorship, exchange control or other restriction, all such risk being borne by you.