Common use of Security Administration Clause in Contracts

Security Administration. When a Security Procedure is required to access a Service or authenticate instructions, you agree to appoint an Administrator with the authority to determine who will be authorized to use the Services on your behalf. You assume sole responsibility for the actions of your Administrator, the authority he or she gives others to act on your behalf, and the actions of the persons designated by the Administrator to use the Services. You or your Administrator will designate which accounts will be used for Service payments and transfers. If your Administrator designates an account that requires more than one signature for the withdrawal or transfer of funds, you agree that we may act upon any Service instruction that is accompanied by the password or Personal Identification Number designated by you or your Administrator for that account and the Service in question.

Security Administration. When a Security Procedure is required to access a Service or authenticate instructions, you agree to appoint an Administrator with the authority to determine who will be authorized to use the Services on your behalf. You assume sole responsibility for the actions of your Administrator, the authority he or she gives others to act on your behalf, and the actions of the persons designated by the Administrator to use the Services. You or your Administrator will designate which accounts will be used for Service payments and transfers. If your Administrator designates an account that requires more than one signature for the withdrawal or transfer of funds, you agree that we may act upon any Service instruction that is accompanied by the password or Personal Identification Number personal identification number designated by you or your Administrator for that account and the Service in question.