Common use of Transfer of Financial Instruments Clause in Contracts

Transfer of Financial Instruments. (1) In the case of request for Transfer to the deposit account of the recipient which has been established with any financial institute other than the Bank, the Bank will not accept checks, bills or any other kind of financial instruments as the Transfer Amounts. (2) If, in the case of request for Transfer to the deposit account of the recipient which has been established with any of the domestic branches of the Bank, the Bank approves to accept checks or any other financial instruments as the Transfer Amounts. The Bank will issue the Receipt for the Transfer Amounts with a description of such approval and will dispatch a transfer notice with a presentation of acceptability of such instruments before confirmation of settlement threrof. Provided, however, that the transfer notice may be dispatched after settlement of the relevant instruments. (3) If the instruments accepted by the Bank in accordance with the preceding Paragraph become dishonored, the Bank will immediately make a notice thereof and the transfer notice will be nullified if such notice has already been dispatched before confirmation of settlement. In this case, the Bank will take procedures for the preservation of rights with respect to such instruments if the Bank has received in advance a request therefor in writing. (4) The dishonored instruments will be returned to the branch office which you are dealing with. Please submit the receipt designated by the Bank with your name and seal attached thereon in order to receive such instruments. In such a case, you may be required to present identification documents designated by the Bank or to provide a guarantor. (5) If the Bank returns the certificates after confirming with due care that the submitted Receipt for the Transfer Amounts was definitely issued by the Bank, the Bank shall bear no responsibility arising therefrom.