Common use of Presumption of Authority Clause in Contracts

Presumption of Authority. Unless we have received written notice from you under Clauses 6.4 or 7.1, we may rely and act on the correct entry of the Security Code(s) as conclusive evidence of the authenticity of an Electronic Instruction and authority of the originator of such Electronic Instruction. You are responsible and liable for all Transactions entered into or purported to be entered into on your behalf.

Presumption of Authority. Unless we have received written notice from you under Clauses 6.4 or 7.1, we may rely and act on the correct entry of the Security Code(s) as conclusive evidence of the authenticity of an Electronic Instruction and authority of the originator of such Electronic Instruction. Notwithstanding anything else in these EB Services Terms and Conditions, we may act on any Electronic Instructions in our sole and absolute discretion, even if we may not be able to verify that an Electronic Instruction is referable to you and/or your User’s Security Code(s). You are responsible and liable for all Transactions entered into or purported to be entered into on your behalf.