Common use of User Names and Passwords Clause in Contracts

User Names and Passwords. FFA may supply the Client, in the course of rendering certain Services, with a User Name and Password. In such an event, the Client will be subject to the following: 20.1. The User Name and Password is strictly personal and the Client shall take all the necessary arrangements to ensure the safekeeping of the User Name and Password at all time, at its entire responsibility. 20.2. The Client agrees that the User Name and Password is equivalent to its signature, and that all transactions bearing his User Name and Password will be deemed as being instructed by the Client and as such will be executed. 20.3. The Client is responsible for all transactions on his Account(s) resulting from the use of its User Name and Password. FFA has no responsibility whatsoever for the execution of any transaction with the User Name and Password by an unauthorized third party. 20.4. The Client must notify FFA in writing in the event of loss of the User Name and Password or its unauthorized disclosure to any third party. The Client shall remain liable for any transaction carried out over its Accounts until FFA acknowledges receipt of said notification from the Client. 20.5. FFA will not be held responsible for any transaction incurred over the Account(s) as a result of fraudulent activities, and the Client will always be liable for any transaction over its Account(s) as a result of such activities.