Unclaimed client money Sample Clauses

Unclaimed client money. Where, for a minimum period of six years, your account has been dormant, and, notwithstanding our reasonable efforts to trace you (which will include at least three attempts to contact you, at least two of which will be in writing at your last known address), we are unable to contact you to obtain your instructions, you agree that we may, where the amount is over £100 and in accordance with the FCA Rules, cease to hold your money as client money and donate it to a registered charity of our choice. Where we subsequently obtain your instructions, we undertake unconditionally to make good any valid claim and we shall make repayment to you from our funds of the sum previously held by us as client money.
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Unclaimed client money. You agree that we may cease to treat your money as client money if there has been no movement on your balance for six years. We shall write to you at your last known address informing you of our intention of no longer treating your balance as client money and giving you 28 days to make a claim. Otherwise, your balance will be transferred to a special bank account held for such cases.
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Unclaimed client money. You consent to us releasing the balance of any unclaimed Client Money held on your behalf by us from our Client Money bank account and paying the balance to a registered charity of our choice, in which case we will no longer treat it as Client Money, where: (a) we have been unable to trace you after taking reasonable steps to contact you as required by the FCA Rules; and (b) where the balance on the account is £25 or more and there has been no movement on your balance for at least 6 years (except for our periodic charges or debit or credit interest). Where we do this, however, we undertake to make good any valid claim made by you or on your behalf against any balances we treat in this way where you have provided evidence to support your claim. Where the balance is under £25.00 and we have taken the steps required by the FCA Rules to contact you, we may stop treating the balance as Client Money and donate it to a registered charity of our choice but we will not make good any claim by you against the balance.
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Unclaimed client money. D.11.2.1 In the circumstances where Platform Securities have held a client money balance for you for at least six years following the last movement on your account (disregarding any payment or receipt of interest, charges or similar items) and providing that they have taken steps to trace you and return the client money balance to you Platform Securities may pay away that client money balance to a registered charity of our choice. D.11.2.2 If the amount of the client money balance is £25 or more Platform Securities will keep records indefinitely relating to the transactions and our attempts to contact you and unconditionally undertake to pay you or your successor or assignee an amount equal to the client money balance so transferred in the event that you or your legal representatives contact us and claim the client money balance. D.11.2.3 All transactions and the keeping of records in relation to them for the transfer of unclaimed investments and / or unclaimed client money balances will be carried out in compliance with the FCA Rules.
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Unclaimed client money. The Client agrees that: (a) the Firm may, in its sole discretion, decide to pay to a registered charity of its choice any money that the Firm holds for the Client as Client Money, and in that case the Firm shall cease to treat that money as Client Money, if: (i) there has been no movement on the Client's balance for six (6) years (notwithstanding any payments or receipts of charges, interest or similar items); and (ii) the Firm has been unable to contact the Client having taken reasonable steps in accordance with the Client Money Rules to trace the Client and return the money. In those circumstances, subject to clause 9.11(b) below, the Firm unconditionally undertakes to pay the Client (or ensure that a member of its group unconditionally undertakes to pay the Client) a sum equal to the relevant Client Money balance paid to charity in the event that the Client seeks to claim the Client Money balance in future; (b) if the aggregate balance of the Client Money the Firm holds for the Client is GBP 100 or less, the Firm may, in its sole discretion, decide to pay the money to a registered charity of its choice, in which case the money shall cease to be Client Money, if: (i) there has been no movement on the balance for six (6) years (disregarding any payments or receipts of charges, interest or similar items); and (ii) the Firm has made at least one attempt to contact the Client to return the balance using the most up-to-date contact details the Firm has for the Client, and the Client has not responded to the relevant communication within twenty-eight (28) days of it having been made.
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Unclaimed client money. You agree that we may, in our sole discretion, decide to pay away to a registered charity of our choice any money that we hold for you as client money if there has been no movement on your balance for six years (notwithstanding any payments or receipts of charges, interest or similar items) and we have been unable to contact you having taken reasonable steps in accordance with the Client Money Rules to trace you and return the money, in which case we shall cease to treat such money as client money. In such circumstances, we (or a member of our group) will unconditionally undertake to pay you a sum equal to the relevant client money balance paid away in the event that you seek to claim the client money balance in future.
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Related to Unclaimed client money

  • Unclaimed Money If money for the payment of principal or interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Company at its request unless an abandoned property law designates another Person. After any such payment, Holders entitled to the money must look only to the Company and not to the Trustee for payment.

  • Unclaimed Funds If funds for the payment of principal or interest remain unclaimed for two years, the Trustee and the Paying Agent will repay the funds to the Company at its written request. After that, all liability of the Trustee and such Paying Agent with respect to such funds shall cease.

  • Unclaimed Property If there is no record of Card activity for an extended period of time, applicable state law may require the Bank to report the balance on the Card as unclaimed property. If this occurs, we may try to locate the owner of the Card at the address shown in our records. If we are unable to locate you, we may be required to deliver any value remaining on the Card to the state as unclaimed property.

  • Unclaimed Deposits Fifteen (15) months following the Bank Closing Date, the Assuming Institution will provide the Receiver a listing of all deposit accounts, including the type of account, not claimed by the depositor. The Receiver will review the list and authorize the Assuming Institution to act on behalf of the Receiver to send a “Final Legal Notice” in a form substantially similar to Exhibit 2.3A to the owner(s) of the unclaimed deposits reminding them of the need to claim or arrange to continue their account(s) with the Assuming Institution. The Assuming Institution will send the “Final Legal Notice” to the depositors within thirty (30) days following notification of the Receiver’s authorization. The Assuming Institution will prepare an Affidavit of Mailing and will forward the Affidavit of Mailing to the Receiver after mailing out the “Final Legal Notice” in a form substantially similar to Exhibit 2.3B to the owner(s) of unclaimed deposit accounts. If, within eighteen (18) months after Bank Closing, any depositor of the Failed Bank does not claim or arrange to continue such depositor’s Deposit assumed pursuant to Section 2.1 at the Assuming Institution, the Assuming Institution shall, within fifteen (15) Business Days after the end of such eighteen (18) month period, (i) refund to the Receiver the full amount of each such deposit (without reduction for service charges), (ii) provide to the Receiver a schedule of all such refunded Deposits in such form as may be prescribed by the Receiver, and (iii) assign, transfer, convey, and deliver to the Receiver, all right, title, and interest of the Assuming Institution in and to the Records previously transferred to the Assuming Institution and other records generated or maintained by the Assuming Institution pertaining to such Deposits. During such eighteen (18) month period, at the request of the Receiver, the Assuming Institution promptly shall provide to the Receiver schedules of unclaimed deposits in such form as may be prescribed by the Receiver.

  • Return of Unclaimed Monies Subject to the requirements of applicable law, any monies deposited with or paid to the Trustee for payment of the principal of, premium, if any, or interest on Notes and not applied but remaining unclaimed by the holders of Notes for two years after the date upon which the principal of, premium, if any, or interest on such Notes, as the case may be, shall have become due and payable, shall be repaid to the Company by the Trustee on demand and all liability of the Trustee shall thereupon cease with respect to such monies; and the holder of any of the Notes shall thereafter look only to the Company for any payment that such holder may be entitled to collect unless an applicable abandoned property law designates another Person.

  • Return of Unclaimed Moneys Any moneys deposited with or paid to the Trustee or any paying agent for payment of the principal of or premium, if any, or interest on Securities and not applied but remaining unclaimed by the holders of Securities for two years after the date upon which the principal of or premium, if any, or interest on such Securities, as the case may be, shall have become due and payable, shall be repaid to the Company by the Trustee or such paying agent on written demand; and the holder of any of the Securities shall thereafter look only to the Company for any payment which such holder may be entitled to collect and all liability of the Trustee or such paying agent with respect to such moneys shall thereupon cease.

  • Client Money We are not authorised to handle client money; any payments received from you or which need to be refunded to you, will be held by Coversure Insurance Services Limited. Client money is money that is received and held on behalf of our clients during the course of our dealings such as premium payments, premium refunds and claim payments. This money will be held either as agent of the insurer or agent of the client, determined by the agreement in place with each insurer. Where money is held as agent of the insurer, this means that when your cleared premium funds are received, the premium is deemed to have been paid to the insurer. The FCA require that all client monies, including yours, are held in a trust account, the purpose of which is to protect you in the event of our financial failure since, in such circumstances, our general creditors would not be able to make claims on client money as it will not form part of our assets. Coversure Insurance Services Limited hold all client monies with one or more approved banks, as defined by the FCA, in a Non-Statutory Trust bank account in accordance with the FCA client money rules. Under these arrangements, Coversure Insurance Services Limited assume responsibility for such monies and are permitted to, and may: • Use such monies received on behalf of one customer to pay another customer’s premium, before the premium is received from that other customer. However, we are not entitled to pay ourselves commissions before we receive the relevant premium from the customer; • For the purpose of effecting a transaction on your behalf, pass your money to another intermediary, including those resident outside the UK who would therefore be subject to different legal and regulatory regimes. In the event of a failure of the intermediary, this money may be treated in a different manner from that which would apply if the money were held by an intermediary in the UK. Please inform us if you do not agree to this. • Retain for our own use, any interest earned on client money. Unless we receive your written instruction to the contrary, we shall treat receipt of payment from you and of any claim payment and/or refund of premium which falls due to you, as being with your informed consent to the payment of those moneys into our Non-Statutory Trust bank account.

  • Unclaimed Property and Lost Shareholders The Transfer Agent shall report unclaimed property to each state in compliance with state law and shall comply with Section 17Ad-17 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), for lost Shareholders. If the Fund is not in compliance with applicable state laws, there will be no charge for the first two years for this service for such Fund, other than a charge for due diligence notices (reflected on Schedule 5.1) provided that after the first two years, the Transfer Agent will charge such Fund its then standard fee plus any out-of-pocket expenses.

  • Return of Moneys Held by Trustee and Paying Agent Unclaimed for Two Years Any moneys deposited with or paid to the Trustee or any paying agent for the payment of the Principal of or interest on any Security of any series and not applied but remaining unclaimed for two years after the date upon which such Principal or interest shall have become due and payable, shall, upon the written request of the Company and unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property law, be repaid to the Company by the Trustee for such series or such paying agent, and the Holder of the Security of such series shall, unless otherwise required by mandatory provisions of applicable escheat or abandoned or unclaimed property laws, thereafter look only to the Company for any payment which such Holder may be entitled to collect, and all liability of the Trustee or any paying agent with respect to such moneys shall thereupon cease.

  • Money Unless expressly stipulated otherwise, all references herein to "dollars," "money," "funds," "payments," "prepayments" or other similar financial or monetary terms, are references to currency of the United States of America.

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