Common use of Unclaimed Monies Clause in Contracts

Unclaimed Monies. In certain circumstances, MTC may hold client money for a Client which has been allocated but not claimed by them. MTC will cease to treat any unclaimed balances as client money after a period of six years, provided that all reasonable steps have been taken by MTC to contact the Client regarding this balance. MTC undertake to make good any valid claim against balances that were released from being treated as client money, upon the provision by the Client of information to evidence the validity of their claim.

Appears in 4 contracts

Samples: General Terms and Conditions, General Terms and Conditions, General Terms and Conditions

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