ACCOUNT OPENING FORMALITIES Sample Clauses

The 'Account Opening Formalities' clause sets out the requirements and procedures that must be completed before a party can open an account with a financial institution or service provider. Typically, this involves submitting identification documents, completing application forms, and providing any additional information required for regulatory compliance, such as anti-money laundering checks. By clearly outlining these steps, the clause ensures that both parties understand the prerequisites for account activation, thereby reducing the risk of delays or misunderstandings during the onboarding process.
ACCOUNT OPENING FORMALITIES. 2.1 To open a MSIA, I/We shall at the Bank's request duly execute and give to the Bank such mandate (if any) specimen signature card and any other document(s) required by the Bank for the operation of the MSIA. Upon the due completion and delivery to the Bank of such documents (in form and substance satisfactory to the Bank) and the processing of the initial purchase (hereinafter refer to as "initial purchase") order in whatever form that the Bank may prescribe and determine, a Maybank Silver Investment Account Passbook ("the Passbook") will be issued to me/us to record entries of all transactions through my/our account for my/our reference. 2.2 In establishing a MSIA, I/we represent and warrant that I/we am/are: (a) 18 years old or above and am/are not of unsound mind; (b) not an undischarged bankrupt; (c) have full rights, power and authority to make purchases and sales of silver and to enter into and exercise my/our rights and perform my/our obligations under this Agreement; (d) the obligations created under this Agreement are valid, legally binding and enforceable against me/us; (e) all actions, conditions and things required to be taken, fulfilled and done (including the obtaining of any necessary consents) in order to enable me/us lawfully to enter into, exercise my/our rights and perform and comply with my/our obligations under this Agreement, to ensure that those obligations are legally binding and enforceable to make this Agreement admissible in evidence have been taken, fulfilled and done; (f) my/our entry into, exercise of my/our rights and/or performance of or compliance with my/our obligations under this Agreement do not and will not violate: (i) any law to which I/we am/are subject to; or (ii) any of the documents constituting it; or (iii) any other agreement to which I/we am/are party to; (g) no litigation, arbitration or administrative proceeding is current, pending, threatened or anticipated which could: (i) restrain my/our entry into, performance of or compliance with or enforcement of my/our obligations under this Agreement; or (ii) have a material adverse effect on my/our performance or compliance with or enforcement of my/our obligations under this Agreement.
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ACCOUNT OPENING FORMALITIES. To open a MGIA, I/we shall at your request duly execute and give to you such mandate (if any), specimen signature card and any other document(s) required by you for the operation of the MGIA. Upon the due completion and delivery to you of such documents (in form and substance satisfactory to you) and the processing of the initial purchase order in whatever form that you may prescribe and determine, a Gold Savings Passbook ("the Passbook") will be issued to me/us to record entries of all transactions through my/our account for my/our reference.
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ACCOUNT OPENING FORMALITIES. To open a MGIA, I/we shall at the Bank’s request duly execute and give to the Bank such mandate (if any), specimen signature card and any other document(s) required by the Bank for the operation of the MGIA. Upon the due completion and delivery to the Bank of such documents (in form and substance satisfactory to the Bank) and the processing of the initial purchase order in whatever form that the Bank may prescribe and determine, a Maybank Gold Investment Account Passbook ("the Passbook") will be issued to me/us to record entries of all transactions through my/our account for my/our reference.
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ACCOUNT OPENING FORMALITIES 
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