Best Practices: A Banker’s Dozen For Reviewing Wire Transfer Agreements

LexisNexis (November 5, 2021, 8:29 AM EDT) -- Article 4A of the Uniform Commercial Code (UCC) sets out a comprehensive set of rules governing funds transfers. Even without a special agreement, parties to a funds transfer may look to Article 4A to understand their rights and obligations. Moreover, unlike the general freedom of contract principle that prevails under Article 4 dealing with checks, Article 4A contains numerous provisions that may not be varied by agreement....