Common use of Unwinding (kumimodoshi Clause in Contracts

Unwinding (kumimodoshi. 8.1 If the Customer wishes to cancel a request for transfer after the transfer contract has been entered into, such cancellation shall be processed in accordance with the following unwinding (kumimodoshi) procedures by Fax Banking or other methods accepted by the Bank: (i) When requesting an unwinding (kumimodoshi), the Customer shall submit to the Bank by fax transmission, a request form for unwinding (kumimodoshi) as prescribed by the Bank (the “Unwinding Request Form”) with the Customer’s name and the Customer’s seal (or signature) previously registered with the Bank affixed (or signed), In such a case, the Bank may ask the Customer to provide personal identification documents prescribed by the Bank. (ii) The Bank shall, in accordance with the Unwinding Request Form, issue an unwinding (kumimodoshi) request telegram to the financial institution which is the receiving party. (iii) The transfer fund which has been unwound shall be refunded in accordance with the manner set forth in the Unwinding Request Form (provided, however that such manner must be acceptable to the Bank). . 8.2 When the Bank makes an unwinding (kumimodoshi) after verifying, with reasonable care, that the seal (or signature) used on the Unwinding Request Form matches the one which was used on the Transfer Request Form, the Bank shall not be responsible for any damages caused thereby. 8.3 If the financial institution which is the receiving party or the Related Banks, have already received the notice of transfer, an unwinding (kumimodoshi) pursuant to Article 8.1may not be made. In such a case, the Customer shall negotiate with the recipient.