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Custodian

Overview#

Custodian is an Organizational Entity that is holds and is responsible for an asset for a Trustee.

Custodian secures the Resource, but may not be granted Authorization to manage the Resource.

A custodian is Accountable to protect the resource from theft, but the Custodian does not have Fiduciary Responsibility to the Beneficiary.
This implies that a custodian MUST conduct a financial transaction for the trustee even if the custodian believes it is a bad decision.

Custodian Example#

In a Financial transaction you, which are considered the Trustor, may delegate a Bank Teller, considered your Trustee to direct your bank, which is the Custodian of your money, to process the a specific Payment Transaction.

More Information#

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