Bank definition: Copy, customize, and use instantly
Introduction
The term "Bank" refers to any financial institution that provides services such as deposit accounts, loans, and other financial transactions under the terms of the agreement. It is crucial for identifying the institution that will hold funds, process payments, or provide financing in connection with the contractual obligations.
Below are various examples of how "Bank" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Bank" as a financial institution
This definition ties "Bank" to a general financial institution.
"Bank" means any commercial or savings bank, credit institution, or other entity that is authorized by the applicable regulatory authorities to engage in banking activities and provide the services described in this Agreement.
Definition of "Bank" as a specified entity
This definition connects "Bank" to a specific institution mentioned in the contract.
"Bank" refers to [Bank Name], a financial institution organized and existing under the laws of [Country/State], and located at [Address], which will provide the services described in this Agreement.
Definition of "Bank" as a custodian of funds
This definition links "Bank" to its role as a custodian of funds.
"Bank" means the institution designated to hold, manage, and disburse funds under this Agreement, ensuring the safe custody of all financial assets entrusted to it by the parties.
Definition of "Bank" as an intermediary in financial transactions
This definition applies "Bank" to an intermediary in transactions.
"Bank" refers to any institution acting as an intermediary to facilitate the transfer of funds, payment processing, or financing arrangements in accordance with the provisions of this Agreement.
Definition of "Bank" as a lending institution
This definition ties "Bank" to its role in providing loans.
"Bank" means any financial institution that provides loans, lines of credit, or other forms of credit facilities, as specified in this Agreement, to the parties involved in the transaction.
Definition of "Bank" as a clearinghouse
This definition connects "Bank" to its role as a clearinghouse for transactions.
"Bank" refers to any institution or entity that operates as a clearinghouse to facilitate the settlement of financial transactions between the parties, ensuring the proper reconciliation of payments and transfers.
Definition of "Bank" as a depository institution
This definition applies "Bank" to its role as a depository institution.
"Bank" means any depository institution or financial service provider that maintains accounts for the parties and manages the deposit of funds in accordance with this Agreement.
Definition of "Bank" as a designated institution for transactions
This definition links "Bank" to its designation for particular transactions.
"Bank" refers to the institution designated in this Agreement to handle payments, transfers, or other financial activities as specified by the parties, and to ensure compliance with applicable laws.
Definition of "Bank" as a central bank or regulatory authority
This definition ties "Bank" to a central bank or regulatory role.
"Bank" means the central bank or regulatory authority designated by the relevant government or jurisdiction to oversee and regulate financial transactions, currency exchange, and other related services as outlined in this Agreement.
Definition of "Bank" as a financial services provider
This definition applies "Bank" to its broader role in providing financial services.
"Bank" refers to any institution, including commercial banks, investment banks, or other financial service providers, offering a range of banking services such as deposits, loans, and investments under this Agreement.
Definition of "Bank" as a commercial institution
This definition ties "Bank" to a commercial institution.
"Bank" means a licensed commercial bank that offers a full range of financial services including savings accounts, loans, and investment products, as specified in this Agreement.
Definition of "Bank" as a savings institution
This definition connects "Bank" to a savings institution.
"Bank" refers to any financial institution primarily engaged in accepting savings deposits and making mortgage loans, as described in this Agreement.
Definition of "Bank" as a transactional intermediary
This definition links "Bank" to its role as an intermediary for transactions.
"Bank" means the financial institution acting as an intermediary in processing and facilitating all financial transactions in connection with the Agreement.
Definition of "Bank" as a trustee
This definition applies "Bank" to its role as a trustee.
"Bank" refers to any institution acting as a trustee under this Agreement, responsible for managing trust assets, disbursing funds, and ensuring compliance with fiduciary duties.
Definition of "Bank" as an electronic payment processor
This definition ties "Bank" to its role as an electronic payment processor.
"Bank" means any financial institution responsible for processing electronic payments, including credit card payments, wire transfers, and digital transactions in accordance with the terms of this Agreement.
Definition of "Bank" as a lender
This definition connects "Bank" to its role as a lender of funds.
"Bank" refers to any lending institution that extends loans or lines of credit to the parties involved in this Agreement, subject to the specified terms and conditions.
Definition of "Bank" as a custodian for escrow
This definition links "Bank" to its role as an escrow agent.
"Bank" means the institution appointed as an escrow agent, responsible for holding and managing funds in escrow during the course of the transaction until all conditions are met.
Definition of "Bank" as a clearinghouse
This definition applies "Bank" to its function as a clearinghouse.
"Bank" refers to any financial institution that operates as a clearinghouse for the settlement and reconciliation of payments, transfers, and other financial obligations.
Definition of "Bank" as a fiduciary
This definition ties "Bank" to its fiduciary responsibilities.
"Bank" means any financial institution acting in a fiduciary capacity under this Agreement, required to act with the utmost good faith and in the best interests of the beneficiaries.
Definition of "Bank" as a partner in joint accounts
This definition connects "Bank" to its role in joint accounts.
"Bank" refers to any financial institution that holds a joint account in partnership with the undersigned parties, for the purposes outlined in this Agreement.
Definition of "Bank" as a source of financing
This definition links "Bank" to its function in providing financing.
"Bank" means the institution that provides financial resources, including loans, investment capital, or credit facilities, to facilitate the completion of the transactions as set forth in this Agreement.
Definition of "Bank" as a regulatory authority
This definition ties "Bank" to its role as a regulatory authority.
"Bank" refers to any government-authorized regulatory body or central bank responsible for overseeing banking operations and ensuring compliance with legal requirements.
Definition of "Bank" as a collateral holder
This definition applies "Bank" to its role in holding collateral.
"Bank" means the institution that holds collateral on behalf of the parties to secure obligations and guarantee performance under this Agreement.
Definition of "Bank" as a depositary for funds
This definition connects "Bank" to its role as a depositary.
"Bank" refers to any financial institution that serves as a depository for funds, holding funds on behalf of the parties as specified under the terms of this Agreement.
Definition of "Bank" as a recipient of payments
This definition links "Bank" to its role in receiving payments.
"Bank" means the financial institution designated to receive payments from the undersigned parties for the transactions outlined in this Agreement.
Definition of "Bank" as a credit card issuer
This definition ties "Bank" to its role in issuing credit cards.
"Bank" refers to any financial institution that issues credit cards, including handling related payments, interest, and credit facilities.
Definition of "Bank" as an agent for foreign exchange
This definition connects "Bank" to foreign exchange operations.
"Bank" refers to any institution providing foreign exchange services under this Agreement, facilitating currency conversions and international money transfers.
Definition of "Bank" as a financial advisor
This definition links "Bank" to its role as a financial advisor.
"Bank" means any institution acting as a financial advisor under this Agreement, providing advice on investments, loans, and other financial services to the parties involved.
Definition of "Bank" as an institution for investment services
This definition ties "Bank" to its role in investment services.
"Bank" refers to any financial institution that provides investment products, such as stocks, bonds, and other securities, as described in this Agreement.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.