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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 />CANCELLATION OR AMENDMENT <br />We have no obligation to cancel or amend Requests after we receive them or to cancel or <br />amend any particular funds transfer requested by a standing instl1lction which is in effect. If <br />you send us a Request instructing us to cancel or amend a prior Request and we are able to <br />verify the authenticity of the cancellation or amendment Request using the Secul'ity <br />Procedure, we will make a reasonable effOlt to act on that Request., but we will not be liable if <br />it is not effected. You agree to indemnify us against and hold us harmless from any and all <br />liabilities, claims, costs, expenses and damages of any nature, including Legal <br />Expenses, we incur in connection with your Request to amend or cancel. Your obligations <br />under this provision will survive termination of these Wire Transfer and International <br />Electronic Funds Transfer Services. <br /> <br />PROVISIONAL PAYMENTS <br />Payment by us for any transaction we credit to your account is provisional until we receive <br />final settlement for the transaction. If final settlement is not received, we are entitled to a <br />refund and we may charge your account for the amount credited. We may delay the <br />availability of any amount credited for a transaction if we believe that there may not be <br />sufficient funds in your account to cover chargeback or return of the transaction. <br /> <br />INCONSISTENCY OF NAME AND NUMBER <br />A beneficiary's bank (including us when we are the beneficiary's bank) may make <br />payment to a beneficiary based solely on the account or other identifying number. We or an <br />intermedialY bank may send a Request to an intermediary bank or beneficiary's bank based <br />solely on the bank identifying number. We, any intermediary bank and any beneficiary's <br />banks may do so even if the Requests include names inconsistent with the account or other <br />identifying number as long as the inconsistency is not known by us or such other bank. <br />Neither we nor any other bank has a duty to determine whether a Request contains an <br />inconsistent name and number. <br /> <br />NOTICE OF ACCOUNT STATEMENT DISCREPANCIES <br />Information concerning payments made pursuant to your Requests will be reflected in <br />your account statements and, in some cases, in written or electronic advices and reports <br />produced through one of our Information Reporting Services. You must send us notice, in <br />writing or by electronic means approved by us for such purpose, with a statement of relevant <br />facts, promptly after you receive the first notice or statement indicating a discrepancy <br />between our records and yours. If you fail to give the required notice within 14 days, we will <br />not be liable for any loss of interest or for any compensation for any other loss or cost <br />relating to an unauthorized or erroneous debit to your account or because of any other <br />discrepancy in the notice or account statement. You must notify us promptly by telephone, <br />confirmed in writing, if you learn or discover from any source other than a statement, <br />advice or report from us of information concerning an unauthorized or erroneous <br />debit to your account. <br /> <br />AD-AG-0455B (2004-2) <br /> <br />42 <br />
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