Financial Institution Bond
For Investment Companies
Actual physical possession, and continued actual physical possession if taken as collateral,
of the items listed in a.(1) through a.(4) above by an Employee, Custodian, or a federal or state chartered deposit institution of the Assured is a condition precedent to the Assured having relied on such items. Release or
return of such collateral is an acknowledgment by the Assured that it no longer relies on such collateral.
For the purpose of this
Insuring Clause 5, a reproduction of a handwritten signature is treated the same as the handwritten signature. An electronic or digital signature is not treated as a reproduction of a handwritten signature.
Loss resulting directly from the receipt by the Assured in good faith of counterfeit Money.
Loss resulting directly from the:
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a. |
withdrawal, transfer, payment, or delivery of Property; or |
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b. |
creation, deletion, debiting, or crediting of an account of the Assured or Customer,
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which results directly from a Network Intrusion.
Claims Expenses incurred by the Assured in determining the amount of covered loss under this Bond in excess of the applicable
Deductible Amount.
Audit Expenses incurred by the Assured by reason of the discovery of loss covered under Insuring Clause 1.
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10. |
Uncollectible Items Of Deposit |
Loss resulting directly from the Assured having credited an account of a customer, shareholder, or subscriber on the faith of any
Items of Deposit which prove to be uncollectible, provided that the crediting of such account causes:
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a. |
redemptions or withdrawals to be permitted; |
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b. |
shares to be issued; or |
from an account of an Assured.
As a condition precedent to coverage under this Insuring Clause 10, the Assured must hold Items of Deposit for the minimum number
of days stated in the Application before permitting any redemptions or withdrawals, issuing any shares, or paying any dividends with respect to such Items of Deposit.
Items of Deposit shall not be deemed uncollectible until the Assureds standard collection procedures have failed.
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11. |
Voice Initiated Funds Transfer Instruction |
Loss resulting directly from the Assured having, in good faith, transferred, paid, or delivered Money or Securities in
reliance upon any Voice Initiated Funds Transfer Instruction that purports, and reasonably appears, to have originated from:
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b. |
an Employee acting on instructions of such Customer; or |
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c. |
a financial institution acting on behalf of such Customer with authority to make such instructions,
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but which Voice Initiated Funds Transfer Instruction was, in fact, fraudulently issued without the knowledge of
the Assured, Employee, or Customer.
As a condition precedent to coverage under this Insuring Clause 11, the Voice
Initiated Funds Transfer Instruction must be received and processed in accordance with the Designated Procedures as outlined in the Application furnished to the Company.
PF-52903 (08/21)
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