Common use of Transaction Authorization Clause in Contracts

Transaction Authorization. You acknowledge that by utilizing the Services available under this Agreement you will be entitled to authorize various transactions electronically that otherwise would require written authorization. You agree that we are authorized to complete each transaction initiated electronically by means of the Internet, including but not limited to transfer of funds, extension of credit under notes and issuance of checks or electronic payment.

Transaction Authorization. You acknowledge that by utilizing the Services available under this Agreement you will be entitled to authorize various transactions electronically that otherwise would require written authorization. You agree that we are authorized to complete each transaction initiated electronically by means of the Internet, including but not limited to transfer of funds, extension draws under line of credit under notes and credits, issuance of checks or electronic payment.