Common use of Verification of Customer Identity and Identifying Transaction Details Clause in Contracts

Verification of Customer Identity and Identifying Transaction Details. 2.1 The Customer shall enter the details of a requested Designated Transaction on the request form prescribed by the Bank with the Customer’s seal (or signature) which has been registered with the Bank and send the form to the Bank by facsimile. Due to the nature of communication via facsimile machine, if a problem arises, the Service will be discontinued and the Customer will be required to request transactions of the Bank via proper methods. 2.2 If the Bank receives a request described in Article 2.1 by facsimile (the Bank’s prescribed request form received from a Customer by facsimile is called the “Fax Request Form”), it will investigate the items enumerated below and when the Bank h a s verified them by measures it deems appropriate, the Bank will deem it has received a valid request for a transaction under the Service from the Customer. (i) The location of the Customer or its agent, and transaction details; (ii) The Fax Request Form contains items that allow adequate identification of the Customer and is sufficient to clearly verify the requested transaction details; and (iii) The seal or signature of the Customer or its agent that appears on the Fax Request Form corresponds to the seal or signature registered with the Bank in advance. 2.3 In addition to the verification procedures in Article 2.2, if the Bank deems it necessary it will verify that the user of the Service is, in fact, the Customer itself by measures prescribed by the Bank (together with the verification procedures in Article 2.2, “the Customer Identification Procedures”). If the Bank deems it necessary, the Service will not be provided until the Customer Identification Procedures have been completed. 2.4 Except in the case of negligence by the Bank, in providing the Service based on the Bank’s verification through the Customer Identification Procedures that the person initiating the transaction is actually the Customer, the Bank shall not be liable even if the Service is utilized fraudulently by a third party.