Common use of WIRE TRANSFER SECURITY PROCEDURES Clause in Contracts

WIRE TRANSFER SECURITY PROCEDURES. ADDITIONAL INFORMATION ---------------------- Telephone Communications - All telephone communication between BFDS and the client will be handled on recorded telephone lines. Transfers Initiated Via Facsimile Transmission - Transfers initiated via fax may use either repetitive wire security procedures, telephone confirmation or a combination of both. Optional Security Procedure - Client may establish telephone confirmation procedures to authenticate repetitive manual wires initiated via telephone, untested facsimile or mail in excess of certain dollar amounts using the attached forms.