Common use of Payment Procedures and Liability Clause in Contracts

Payment Procedures and Liability. If you have instructed us or Clearing Firm to make regular payments out of your Account, you can stop such payments by writing or calling us or Clearing Firm at (000) 000-0000, XX XXX 000000, XXXXXXXXXXX, XX 00000 in time for us or Clearing Firm to receive your request three (3) business days or more before the payment is scheduled to be made. If a regular payment will vary in amount, the payee needs to tell you how much the payment will be at least ten (10) days prior to when it is due. If you instruct us or Clearing Firm to stop one of these payments three (3) business days or more before the Transfer is scheduled, and we or Clearing Firm do not do so, we or Clearing Firm will be liable for your losses or damages. These stop payment procedures apply to institutional accounts (as defined in Section 1(a) above) as well. However, in no event will we or Clearing Firm guarantee the effectuation of, or be liable for, any stop payment request from an institutional account. You agree (if an institution) to hold us and Clearing Firm harmless for the amount(s) of any stop payment order(s) entered by you or on your behalf, and for all costs and expenses (including attorney fees) incurred by reason of the refusal to honor said payments), and you further agree that if, contrary to such stop payment order(s), payment is nevertheless inadvertently made through accident or oversight, we and Clearing Firm shall not be liable. This provision shall survive the termination of your Account. Please note that stop payment orders will not appear on your periodic account statement.

Payment Procedures and Liability. If you have instructed us or Clearing Firm to make regular payments out of your Account, you can stop such payments by writing or calling us or Clearing Firm at (000the address and telephone numbers shown in Section 1(b) 000-0000, XX XXX 000000, XXXXXXXXXXX, XX 00000 above in time for us or Clearing Firm to receive your request three (3) business days or more before the payment is scheduled to be made. If a regular payment will vary in amount, the payee needs to tell you how much the payment will be at least ten (10) days prior to when it is due. If you instruct us or Clearing Firm to stop one of these payments three (3) business days or more before the Transfer is scheduled, and we or Clearing Firm do not do so, we or Clearing Firm will be liable for your losses or damages. These stop payment procedures apply to institutional accounts (as defined in Section 1(a) above) as well. However, in no event will we or Clearing Firm guarantee the effectuation of, or be liable for, any stop payment request from an institutional account. You agree (if an institution) to hold us and Clearing Firm harmless for the amount(s) of any stop payment order(s) entered by you or on your behalf, and for all costs and expenses (including attorney fees) incurred by reason of the refusal to honor said payments), and you further agree that if, contrary to such stop payment order(s), payment is nevertheless inadvertently made through accident or oversight, we and Clearing Firm shall not be liable. This provision shall survive the termination of your Account. Please note that stop payment orders will not appear on your periodic account statement.