Common use of Red Flags Rule Clause in Contracts

Red Flags Rule. To the extent that Service Provider has been engaged to provide services with respect to individual financial accounts that are “covered accounts” as defined under 16 C.F.R. § 681.2 (the “Red Flags Rule”), Service Provider shall comply with the Red Flags Rule with respect to those covered accounts. Without limiting the foregoing, Service Provider shall maintain reasonable polices and procedures designed to detect, prevent, and mitigate the risk of identity theft and to detect Red Flags (as such term is defined in the Red Flags Rule) that may arise in the course of providing the Services. Service Provider shall promptly report any Red Flags to BC and shall take reasonable steps to prevent or mitigate identity theft, including any reasonable steps requested by BC.

Red Flags Rule. To the extent that Service Provider has been engaged to provide services with respect to individual financial accounts that are “covered accounts” as defined under 16 C.F.R. § 681.2 (the “Red Flags Rule”), Service Provider shall comply with the Red Flags Rule with respect to those covered accounts. Without limiting the foregoing, Service Provider shall maintain reasonable polices policies and procedures designed to detect, prevent, and mitigate the risk of identity theft and to detect Red Flags (as such term is defined in the Red Flags Rule) that may arise in the course of providing the Services. Service Provider shall promptly report any Red Flags to BC and shall take reasonable steps to prevent or mitigate identity theft, including any reasonable steps requested by BC.