Form PD F 5441 PD F 5441 U.S. Treasury Auctions Submitter Agreement

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PD F 5441 E
Department of the Treasury
Bureau of the Fiscal Service
(Revised February 2014)

OMB No. 1535-0137

U.S. Treasury Auctions
Submitter Agreement ("Agreement")
Definitions
1. In this Agreement, "you" and "your" refers to the institution submitting the Agreement. Please print
your institution's legal name, address, and if your institution is a depository institution, your
institution’s ABA number, in the space provided below.
Institution Name: _____________________________________________________
Address: ____________________________________________________________
City/State/Zip: ________________________________________________________
ABA: (if applicable) ____________________________________________________
2. In this Agreement, "we" or "us" refers to the Secretary of the Treasury and the Secretary's
representatives at the U.S. Department of the Treasury and/or the Bureau of the Fiscal Service. The
term also extends to the Federal Reserve Banks designated by Treasury to act on its behalf.
3. In the section herein entitled, "Terms and Conditions," the term "service provider" refers to the entity
or institution with whom you have contracted or made arrangements to enter and transmit bids on
your behalf.

Terms and Conditions
1. You certify that for every bid you submit, you will comply with the following:
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•
•
•
•

The regulations in 31 CFR Part 356 (governing the sale and issue of Treasury securities);
The applicable offering announcement;
The regulations in 31 CFR Part 370 (governing electronic transactions);
The regulations in 31 CFR Part 357 (governing TreasuryDirect transactions);
Federal Reserve Operating Circular No. 5 (governing electronic access standards and
requirements, excluding the Certification Practice Statement, but including in its place the
TAAPS Certification Practice Statement.
A copy of this document is available at:
http://www.newyorkfed.org/aboutthefed/fedpoint/taaps_cps.pdf).

2. You certify that all information submitted to us on your behalf is accurate, true and complete and
that, to the best of your knowledge, all information submitted on behalf of your customers is accurate,
true and complete and is based on information given to you by your customers or intermediaries.
3. You certify that, if any information in this Agreement changes, you will notify us immediately and
update this Agreement in the manner that we require.
4. You certify that you will not conduct a transaction in an attempt knowingly or willfully to defraud and
that you will not knowingly or willfully make any oral or written statements (including information
submitted electronically) that is false or misleading, or which omits any fact necessary to make such
statements not misleading.
5. We will issue electronic authentication credentials (such as logon IDs, passwords, and/or tokens) to
individuals you identify to us pursuant to this Agreement. The presentment of such authentication
credentials to access TAAPS will serve as that individual's electronic signature for all transactions
submitted to us using those credentials to access our electronic systems. Any transaction conducted
electronically is the equivalent of a written transaction. You are responsible for all transactions that
occur in our electronic systems, whether or not you authorized such transactions.
U.S. Treasury Auctions Submitter Agreement - Page 1 of 3

PD F 5441 E
Department of the Treasury
Bureau of the Fiscal Service
(Revised February 2014)

OMB No. 1535-0137

6. You certify that each individual who has authentication credentials for Treasury auction applications
will keep his/her electronic authentication credentials strictly confidential. You must take action to
stop access and notify us immediately if:
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•

Any individual no longer requires, or should not have, access to our electronic systems; or
Any individual may have had their electronic authentication credentials compromised.

7. The timestamp of an auction bid represents the time when we receive it. We may provide one or
more confirmation messages upon our receipt of any auction bid. Our determination of the official
time of receipt of any auction bid is final.
8. We are not liable for any disruptions, errors or failures in the operation of any computer systems or
communication facilities or lines between you and us. We are not liable for the delays in the
submission or receipt of bids.
9. We reserve the right to limit, condition, suspend or terminate the TAAPS access rights and privileges
of any or all TAAPS users. We reserve the right to accept, reject or refuse to accept any and all bids.
10. For you to terminate this Agreement, you must provide us not less than five (5) business days prior
written notice. A "business day" is the day other than a Saturday, Sunday or other day on which we
are not open for business. We may terminate this Agreement at any time without prior notice.
11. In those cases where an auction bid is transmitted by a service provider on your behalf, you are
responsible to the same extent had the bid been transmitted by you.
12. In those cases where awarded securities are to be delivered to your securities account at a Federal
Reserve Bank, and you have a funds account at such Federal Reserve Bank, you authorize us to
charge your funds account upon delivery of the securities, unless other prior arrangements have been
made.
13. You must review any information about a submission that we make available to you, such as the
award notification. You must notify us immediately of any errors in this information before we issue
securities to you. If you notice an error, or upon reasonable review an error should have been
noticed by you, and you fail to report the error to us before we issue securities to your account, we
shall not be liable for any losses incurred as a result of issuance consistent with the information in the
award notification we provided.
14. After we issue securities awarded in an auction, if we reject a bid or determine that a transaction is
unauthorized or in violation of law, we reserve the right to require you to return any securities
improperly issued to you. If you no longer have possession of the securities, we have the right to,
upon notice, require that you obtain securities of the same term and maturity and provide those
securities to us.
15. This Agreement supersedes and merges all prior understandings, proposals and agreements
between you and us relating to the subject matter.
16. We reserve the right to reject this form if it is not an original, does not contain original
signatures (stamped signatures are unacceptable), or is altered in any manner.
Paperwork Reduction Act Notice. We estimate it will take you about 05 minutes to complete this form. However,
you are not required to provide information requested unless a valid OMB control number is displayed on the form.
Any comments or suggestions regarding this form should be sent to the Bureau of the Fiscal Service, Forms
Management Officer, Parkersburg, WV 26106-1328.

U.S. Treasury Auctions Submitter Agreement - Page 2 of 3

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PD F 5441 E
Department of the Treasury
Bureau of the Fiscal Service
(Revised February 2014)

OMB No. 1535-0137

Agreement to Terms
TYPE OR PRINT CLEARLY IN INK ONLY *Denotes required field
* Institution Name: ____________________________________________________________________
* Print Name of Primary Approving Officer: _________________________________________________
* Title: ________________________________________

* Phone: __________________________

* E-mail Address: _____________________________________________________________________
* Signature of Primary Approving Officer: ____________________________ * Date ________________
(Appointing a Secondary Approving Officer is optional but highly recommended)
* Print Name of Secondary Approving Officer: _______________________________________________
* Title: ________________________________________

* Phone: __________________________

* E-mail Address: _____________________________________________________________________
* Signature of Secondary Approving Officer: __________________________ * Date _______________

Certification of Authority
I certify that (1) ___________________________ [name of Primary Approving Officer listed above] and
_______________________ [name of Secondary Approving Officer listed above, if any], whose identity
and position is known or was proven to me, personally appeared before me at [Time] ______ on [Date]
_______ at [Location] _________________ and signed this document and (2) she/he/they, and each of
his/her/their successors in office, is/are authorized in accordance with our institution's by-laws or by a
resolution of its Board of Directors, or is otherwise authorized, on behalf of the Institution, to
(a) submit bids in U.S. Treasury auctions, to purchase securities awarded in such auctions, to agree to
any and all terms and conditions relating to such transactions that may be required by the Secretary
of the Treasury or the Federal Reserve Bank of New York in connection with such transactions,
including this Agreement and to undertake any and all acts that may be necessary or incidental to, or
designed to carry out the purpose of, the foregoing, and
(b) designate those persons to be recognized as authorized to undertake such activities on behalf of the
Institution.
Print Name of Certifying Officer**: ________________________________________________________
* Title: ________________________________________

* Phone: __________________________

* E-mail Address: _____________________________________________________________________
* Signature of Certifying Officer: __________________________________ * Date __________________
**The Certifying Officer should be the Corporate Secretary or, if there is no Corporate Secretary, the Chief
Executive Officer or officer of similar rank, in any case someone other than the Primary or Secondary
Approving Officer.
U.S. Treasury Auctions Submitter Agreement - Page 3 of 3

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