Common use of Withdrawals from the Account Clause in Contracts

Withdrawals from the Account. 12.1 For all withdrawals of funds from the Account, the Customer may make a verbal request, which the Customer understands will be recorded under FSL's telephone recording system, or in writing, signed and sent to FSL. FSL shall only comply with such withdrawal Instruction if there are sufficient available funds in the Account, less all amounts which FSL is entitled to deduct therefrom under any provision of this Agreement. If the Customer accesses the Electronic Trading Service, the Customer may also complete an on-line funds withdrawal form accessible through FSL Mail. FSL shall either issue a cheque payable to the Customer or transfer the funds to the Customer's bank account specified by the Customer on the Client Information Statement or in such manner as may be agreed from time to time. The Customer shall be responsible for any bank charges incurred. As a security measure, unless otherwise instructed by the Customer and agreed with FSL, FSL will not accept any Instruction for issue of a cheque, or for transfer of funds to a bank account, in the name of a third party. The Customer acknowledges the risk associated with verbal Instructions given under this Clause and the indemnity under Clause 34 of this Section I. 12.2 For all withdrawals or transfers of Securities from the Account, the Customer shall complete the Securities withdrawal form. Upon receipt of such form, FSL shall arrange for the delivery to the Customer or the transfer to another participant of HKSCC (as the Customer shall request) of the Securities described on that form. The Customer shall be solely responsible for instructing any relevant participant of HKSCC to receive Securities transferred from FSL and all handling and transfer fees and charges incurred shall be the Customer's responsibility and FSL is authorized to deduct them from the Account. The Customer further acknowledges that a Securities withdrawal form received by FSL after 3:00 p.m. (Hong Kong time) on any Business Day shall not be acted upon until the next Business Day.

Appears in 3 contracts

Samples: Client Trading Agreement, Client Trading Agreement, Client Trading Agreement

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Withdrawals from the Account. 12.1 For all withdrawals of funds from the Account, the Customer may make a verbal request, which the Customer understands will be recorded under FSL's MSL’s telephone recording system, or in writing, signed and sent to FSLMSL. FSL MSL shall only comply with such withdrawal Instruction if there are sufficient available funds in the Account, less all amounts which FSL MSL is entitled to deduct therefrom under any provision of this Agreement. If the Customer accesses the Electronic Trading Service, the Customer may also complete an on-line funds withdrawal form accessible through FSL MSL Mail. FSL MSL shall either issue a cheque payable to the Customer or transfer the funds to the Customer's ’s bank account specified by the Customer on the Client Information Statement or in such manner as may be agreed from time to time. The Customer shall be responsible for any bank charges incurred. As a security measure, unless otherwise instructed by the Customer and agreed with FSLMSL, FSL MSL will not accept any Instruction for issue of a cheque, or for transfer of funds to a bank account, in the name of a third party. The Customer acknowledges the risk associated with verbal Instructions given under this Clause and the indemnity under Clause 34 of this Section I. 12.2 For all withdrawals or transfers of Securities from the Account, the Customer shall complete the Securities withdrawal form. Upon receipt of such form, FSL MSL shall arrange for the delivery to the Customer or the transfer to another participant of HKSCC (as the Customer shall request) of the Securities described on that form. The Customer shall be solely responsible for instructing any relevant participant of HKSCC to receive Securities transferred from FSL MSL and all handling and transfer fees and charges incurred shall be the Customer's ’s responsibility and FSL MSL is authorized to deduct them from the Account. The Customer further acknowledges that a Securities withdrawal form received by FSL MSL after 3:00 p.m. (Hong Kong time) on any Business Day shall not be acted upon until the next Business Day.

Appears in 2 contracts

Samples: Client Trading Agreement, Client Trading Agreement

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Withdrawals from the Account. 12.1 For all withdrawals of funds from the Account, the Customer may make a verbal request, which the Customer understands will be recorded under FSL's MSL’s telephone recording system, or in writing, signed and sent to FSLMSL. FSL MSL shall only comply with such withdrawal Instruction if there are sufficient available funds in the Account, less all amounts which FSL MSL is entitled to deduct therefrom under any 9 provision of this Agreement. If the Customer accesses the Electronic Trading Service, the Customer may also complete an on-line funds withdrawal form accessible through FSL MSL Mail. FSL MSL shall either issue a cheque payable to the Customer or transfer the funds to the Customer's ’s bank account specified by the Customer on the Client Information Statement or in such manner as may be agreed from time to time. The Customer shall be responsible for any bank charges incurred. As a security measure, unless otherwise instructed by the Customer and agreed with FSLMSL, FSL MSL will not accept any Instruction for issue of a cheque, or for transfer of funds to a bank account, in the name of a third party. The Customer acknowledges the risk associated with verbal Instructions given under this Clause and the indemnity under Clause 34 of this Section I. 12.2 For all withdrawals or transfers of Securities from the Account, the Customer shall complete the Securities withdrawal form. Upon receipt of such form, FSL MSL shall arrange for the delivery to the Customer or the transfer to another participant of HKSCC (as the Customer shall request) of the Securities described on that form. The Customer shall be solely responsible for instructing any relevant participant of HKSCC to receive Securities transferred from FSL MSL and all handling and transfer fees and charges incurred shall be the Customer's ’s responsibility and FSL MSL is authorized to deduct them from the Account. The Customer further acknowledges that a Securities withdrawal form received by FSL MSL after 3:00 p.m. (Hong Kong time) on any Business Day shall not be acted upon until the next Business Day.

Appears in 1 contract

Samples: Client Trading Agreement

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