Common use of Fax Instructions Clause in Contracts

Fax Instructions. The Customer hereby authorizes the Bank to accept, rely on and act in accordance with any instructions given by the Customer or Authorized Signatory by facsimile (“Fax Instructions”) in respect of any of the Customer’s accounts maintained with the Bank and any of the Customer’s affairs and dealings with the Bank and any services provided by the Bank. The faxed copies of any Fax Instruction shall bear the seal(s)/chop(s) and/or signature(s) which the Bank in good faith considers correspond with the impression of the seal(s)/chop(s) and/or signature(s) of the Customer or Authorized Signatory left with the Bank; Unless otherwise requested by the Bank, the original of the documents transmitted by Fax Instruction are not required to be delivered to the Bank. Unless otherwise required hereunder, the Customer agrees that the Bank may rely on and is authorized to act in accordance with and execute any Fax Instruction apparently or purporting to be given or made by the Customer or by any Authorized Signatory immediately upon the Bank’s receipt thereof without enquiry on the Bank’s part as to the authority or identity of the person making or purporting to make such Fax Instruction or any other verification and regardless of the circumstances prevailing at the time of such Fax Instruction. The Bank may treat such Fax Instruction as fully authorized by and binding on the Customer and may (but shall not be bound to) take such steps in connection with or in reliance on such Fax Instruction as the Bank may in good faith consider appropriate, whether such Fax Instruction includes instructions to pay money or otherwise, to debit or credit any account, or relates to the disposition of any money, securities or documents or purports to bind the Customer to any agreement or other arrangement with the Bank or with any other person or to commit the Customer to any other type of transaction or arrangement whatsoever, regardless of the nature of the transaction or arrangement or the amount of money involved.