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Reso 2009-1489
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Reso 2009-1489
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Last modified
7/1/2010 9:43:08 AM
Creation date
10/26/2009 3:45:30 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2009-1489
Date (mm/dd/yyyy)
10/15/2009
Description
Agmts w/Bank of America for Government Banking Srvs
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<br />For the web-based remittance advice delivery selvice, we act as an intermedialY to make data <br />and information available to or from you or your enrolled trading partners <br />reasonably promptly after receipt of such information. We make the information available to <br />your enrolled receivers on the specified website within one Business Day of receipt. The <br />information will be available on the specified website for the time periods specified in the <br />applicable User Documentation. We will not alter the content of any information that we <br />receive from you or the trading partner. We are not responsible for the accuracy of any of <br />the information that we receive. <br /> <br />Payment requests originated via the EDI Services will be subject to the terms and conditions <br />for the underlying payment Services (Check Issuance, ACH and/or Wire Transfer and <br />International Electronic Funds Transfer) as described in their respective sections of this <br />Booklet. <br /> <br />RECEIVING REMl'ITANCE INFORMATION <br />Remittance information can be delivered to you in a mutually acceptable form and manner <br />and will be covered under the Information Reporting section of this Booklet. <br /> <br />ELECfRONIC FOREIGN EXCHANGE <br /> <br />Our Electronic Foreign Exchange SelVice allows you to initiate FX Requests over the intel1let or <br />by telephone. By accessing our website, you can request that we provide an FX Transaction <br />quotation, and by accepting our quotation you can electronically enter into FX Transactions, <br />all in accordance with the instructions provided in the applicable User Documentation. <br /> <br />AUTHORIZED PERSONS <br />Before using an Electronic Foreign Exchange Service, you give us, by completing the <br />applicable Application, a written list of the persons authorized by you, including the <br />Security Administrators, to perform certain duties in connection with the Electronic Foreign <br />Exchange Service. <br /> <br />SECURI'IY PROCEDURE <br />You agree to use the Security Procedure, if any, when you send us FX Requests. The purpose of <br />the Security Procedure is to verify the authenticity ofFX Requests delivered to us in your <br />name and not to detect errors in the transmission or content of the FX Requests. Each <br />time you use an Electronic Foreign Exchange SeIVice, you represent and warrant that, in view <br />of your requirements, the Security Procedure is a satisfactory method of verifying the <br />authenticity ofFX Requests. <br /> <br />You agree that we may act on FX Requests, even if they are unauthorized, ifwe act in good <br />faith and comply with the applicable Security Procedure and any written agreement with you <br />restricting our action on FX Requests. In such cases, we may enforce or retain your payment <br />to us for such FX Requests; provided, however, we may not enforce or retain payment if <br />you prove that the unauthorized FX Requests were not caused by a person (i) entrusted at <br />any time to act for you with respect to FX Requests or the applicable Security <br />Procedure, (ii) who obtained access to your premises, computer equipment or <br />transmitting facilities or (iii) who obtained, from a source controlled by you, information <br />(such as keys and passwords) which facilitated breach of the applicable Security Procedure. <br /> <br />AD-AG-0455B (2004-2) <br /> <br />28 <br />
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