Common use of Your Personnel Clause in Contracts

Your Personnel. You are solely responsible for all acts and omissions of your officers, directors, partners, employees, agents, representatives, contractors, and third party service providers, including persons granted signature authority on your accounts and personnel who are permitted to initiate and/or give us instructions with respect to your entries (collectively, “Your Personnel”). We are entitled, without further inquiry or investigation, to assume that the actions of Your Personnel are appropriate and authorized by you. This authorization will remain in effect unless we receive written notice to the contrary from you and have had a reasonable opportunity to react thereto. You are strongly advised to establish and maintain policies and procedures and accounting and auditing controls (including separation of duties for statement review and other activities) that will prevent and/or allow the prompt detection of fraud or other unauthorized activity by Your Personnel. As between you and us, you agree to accept sole responsibility for losses attributable to any and all acts and omissions of Your Personnel.