Common use of Acting on Direction Clause in Contracts

Acting on Direction. The Custodian shall act on the Account Owners directions for transfers, investments and distributions of Fiat when the Account Owner has submitted directions in the manner required by Custodian. Custodian will also act on Investment Directions submitted by your Authorized Agent and any other authority granted by the Account Owner in compliance with Custodian’s then current policies and procedures. The Custodian is not responsible for losses or damages resulting from the delay of acting on a direction if the direction is unclear, incomplete and not in acceptable form to the Custodian. The Custodian has no responsibility to question any investment direction received in good order from the Account Owner or their Authorized Agent. When the Custodian is directed to invest assets that are not publicly traded, the Custodian shall not have any responsibility or liability of the entity or the broker/agent involved does not settle the trade in accordance with the trade executed by the account owner.