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Facsimile Signatures
by Andy Zavoina, BOL Guru
Guru Bio
Question: I am looking for an example of appropriate "hold harmless" language for a statement to be signed by commercial customer(s) who requests that the bank accept a facisimile signature(s) on their checks.
Answer: This is from our Deposit Agreement. You may want to go beyond commercial accounts on this as companies now advertise digitizing a persons signature so it can be printed on their checks.
"Facsimile Signatures. If your items are signed with the use of any facsimile signature or other non-manual form of signature, you acknowledge
that the use of such signature is solely for your benefit and convenience. You accept sole responsibility for maintaining security over any device for affixing such signature. Such signature will be effective as your signature regardless of whether the person affixing the signature was authorized to do so. Owner agrees to indemnify and hold us harmless from all losses resulting from our honoring an item in any instance in which the item bears or purports to bear a facsimile signature resembling a facsimile signature on file with us, regardless by whom or by what means the actual or purported signature was affixed to the item."
First published on BankersOnline.com 4/21/08
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