Legal Seminar, Chicago, IL

Choice Escrow Agreement

 Choice Escrow didn’t opt for any of the daily limits  Choice Escrow didn’t want to use “dual control”  Problematic for its business  Choice Escrow executed a waiver

“Since we wish to waive Dual Control anyone who has a User ID and Password or obtains access to a user ID and Password can wire funds to any other financial institution without restriction by [BSB] or the InView system. We understand that this can occur if our password is stolen. Further if funds are fraudulently wired out in this manner there is a substantial probability that we will be unable to retrieve our funds or recover losses.” Waiver