The Client acknowledges that Investec SA will capture the purpose of the transaction and the appropriate Cross Border Foreign Exchange Transaction Reporting category onto its processing system, as provided by the Client either in writing, electronically (by facsimile or via electronic mail communication), or telephonically.
The Client furthermore agrees that the recording by Investec SA of the information provided by the Client on its processing system shall have the same legal consequences had the Client personally completed and signed the appropriate standard format Outward Payment Application Form used by Investec SA and indicated the purpose thereon.
The Client hereby warrants that it possesses full knowledge concerning the content of the Outward Payment Application Form as may be amended from time to time, and consents and binds itself to the terms and conditions thereof.
The Client hereby warrants that the transaction undertaken shall comply with any Rulings, Regulations and Legislation, in respect of the South African Reserve Bank Exchange Control Regulations and, further the Client warrants that it is not in contravention of any Exchange Control Rules, Regulations and/or Legislation. The Client further undertakes to furnish Investec SA with all documents required by the Financial Surveillance Department of the South African Reserve Bank if requested to do so.
In consideration of Investec SA’s compliance with the Cross Border Foreign Exchange Transaction Reporting requirements the Client hereby indemnifies Investec SA against any and all claims, loss, demands, liability, costs and expenses of whatsoever nature and howsoever caused and arising, which may at any time be made against Investec SA by any person or which Investec SA may sustain or incur arising directly or indirectly out of or in consequence of having relied and acted upon this mandate, and undertakes to make payment of such claim, loss, liability, costs and expenses on receipt of a demand for payment by Investec SA.
The Client acknowledges that Investec SA may amend the BOP category provided by the Client, where the supporting documentary evidence supports the amendment, and that Investec SA may do so without prior referral or confirmation to the Client.
The Client shall be responsible for ensuring that its instructions or confirmations are submitted to Investec SA by an authorised person. The Client indemnifies and holds Investec SA harmless against any and all claims, loss, demands, liability, costs and expenses of whatsoever nature suffered or incurred as a result of the unlawful conduct of any unauthorised person submitting such instruction or confirmation provided there is no negligence, gross negligence or willful misconduct on the part of Investec SA in relying on such unlawful instruction or confirmation. Similarly, Investec SA indemnifies and holds the Client harmless against any and all claims, loss, demands, liability, costs and expenses of whatsoever nature suffered or incurred as a result of the unlawful conduct of any unauthorised person purportedly acting on behalf of Investec SA with regard to any instruction or confirmation of the Client provided there is no the negligence, gross negligence or willful misconduct on the part of the Client in relying on the conduct of such unauthorised person.