Common use of Unauthorized Order Clause in Contracts

Unauthorized Order. We may process any Order or other instruction (including an amendment or cancellation of an Order) that we believe is transmitted or authorized by you if we act in compliance with the security procedure (including any applicable callback procedure) agreed upon by you and us. Such Orders will be deemed effective as if made by you, and you will be obligated to pay us in the amount of such Orders, even though they are not transmitted or authorized by you. We strongly recommend that you impose a dual control internal environment in connection with the transmission and confirmation of Orders. We may refuse or delay execution of any Order that we have reason to believe may not be authorized by you. We shall have the right, but no duty, to question the authorization of any Order received with your Access Credentials or compliance with any agreed security procedure (including any applicable callback procedure). If we fail to follow the agreed security procedure but can prove that the Order was originated or authorized by you, then the Order shall be deemed authorized for all purposes.