Common use of Safekeeping Services Clause in Contracts

Safekeeping Services. 20.1 Unless otherwise agreed to by us, we may (but shall not be obliged to), at your request, accept monies or other items (approved by us) for temporary safekeeping for no more than one (1) Business Day (or such other period as we may agree), on such terms and conditions as we may determine. Without prejudice to the foregoing, we reserve the right, at any time, to refuse to accept any item for safekeeping without assigning any reason for such refusal. 20.2 In the absence of any Instruction from you as to the subsequent transfer or disposal of such monies or items, you authorise us to open a safekeeping account or safe deposit box at any of our Branches or with any of our Affiliates or Nominees, on your behalf, and to deposit such monies or items in such safekeeping account or safe deposit box. In such event, you agree to comply with the terms and conditions governing such safekeeping account or safe deposit box, as the case may be. 20.3 Where your monies or items are deposited with any of our Affiliates or Nominees, you accept that while we will exercise reasonable care in the selection of such Affiliate or Nominee, such monies or items are placed with such Affiliate or Nominee at your sole risk and we shall not be liable for any act, omission, neglect or default of such Affiliate or Nominee. 20.4 You may request and we may require a withdrawal of all or part of your monies or items being safekept with us or our Affiliate or Nominee at any time. Delivery of such monies or items shall be carried out at your expense, on such terms and conditions as we may stipulate, and you shall in all circumstances accept full responsibility for any Losses arising out of or in connection with such delivery.

Safekeeping Services. 20.1 Unless otherwise agreed to by us, we may (but shall not be obliged to), at your request, accept monies or other items (approved by us) for temporary safekeeping for no more than one (1) Business Day (or such other period as we may agree), on such terms and conditions as we may determine. Without prejudice to the foregoing, we reserve the right, at any time, to refuse to accept any item for safekeeping without assigning any reason for such refusal. 20.2 In the absence of any Instruction from you as to the subsequent transfer or disposal of such monies or items, you authorise us to open a safekeeping account or safe deposit box at any of our Branches or with any of our Affiliates Affiliates or Nominees, on your behalf, and to deposit such monies or items in such safekeeping account or safe deposit box. In such event, you agree to comply with the terms and conditions governing such safekeeping account or safe deposit box, as the case may be. 20.3 Where your monies or items are deposited with any of our Affiliates Affiliates or Nominees, you accept that while we will exercise reasonable care in the selection of such Affiliate Affiliate or Nominee, such monies or items are placed with such Affiliate Affiliate or Nominee at your sole risk and we shall not be liable for any act, omission, neglect or default of such Affiliate Affiliate or Nominee. 20.4 You may request and we may require a withdrawal of all or part of your monies or items being safekept with us or our Affiliate Affiliate or Nominee at any time. Delivery of such monies or items shall be carried out at your expense, on such terms and conditions as we may stipulate, and you shall in all circumstances accept full responsibility for any Losses arising out of or in connection with such delivery.