Liability and Default clause Notice from PN Module

[morag-janet-of-the-hill-family]

This is the way I would read it; You would name all of the parties that would be part of the contract you are establishing with the BOE agreement. Including your strawman and any derivatives of that name and if you are dealing on behalf of a private Trust then the name of the trust and the trustees as well as the party/ies you are sending the BOE to.

[shaunm]

Thanks Morag.

[rtw711]

In this notice, is “The Trustee” only referring to any private trusts of the payer i.e. e.g. property trusts? My understanding is it is. Is this correct? So, you don’t need to include “The Trustee” if no private trusts are involved, or are they also able to act as Trustee of the Strawman named trusts of payer in this situation?

[morag-janet-of-the-hill-family]

I think you are right it is only if the bank is dealing with a Trust and you as trustee otherwise if they are just dealing with your strawman only, then you would use any derivitives of the name they have on their documents (your strawman name).

[rtw711]

Yes, that’s what I am going to do. Only include “The Trustee” if I have any private trusts, otherwise I will exclude it but still include derivatives of strawman name e.g. JOHN HENRY DOE, JOHN DOE, JOHN H DOE, J H DOE, John Henry Doe, John Doe, John H Doe & J H Doe.