Common use of Bank’s Responsibility Clause in Contracts

Bank’s Responsibility. The Bank will not be responsible for any loss or damage suffered or incurred by the Customer except in a case where there has been gross negligence on the part of the Bank, and in any such case the Bank will not be liable for any indirect, consequential or exemplary damages (including but not limited to loss of profits), regardless of the cause of action. In no event will the Bank be liable for any loss or damage suffered by the Customer that is caused by: a) the actions of, or any failure to act by, any third party (and no third party will be considered to be acting as an agent for the Bank); except if said third party is acting under specific instructions from the Bank. b) inaccuracies in or inadequacies of any information furnished by the Customer to the Bank; c) a forged or unauthorized signature or a material alteration on any Instrument, unless (A) it was made by a person who was at no time the Customer’s employee, officer, director or agent and (B) its occurrence was beyond the Customer’s control; or d) Any delay, error or interruption or failure by the Bank to perform or fulfill any of its obligations to the Customer due to any cause beyond the Bank’s control (including but not limited to any systems malfunction, technical failures, or if the information retrieved by the Bank is not timely, complete or accurate); e) any missing, incomplete or fraudulent endorsement of any instrument or any counterfeit cheques f) the communication facilities that are not under the Bank’s control that may affect the timeliness, completeness or accuracy of any information or that may cause a delay in the retrieval or presentment of any information; g) the Bank relying or acting upon any electronic communication pursuant to this Agreement; h) The Customer’s failure to fulfill any of its obligations under this Agreement or to comply with any instructions the bank may provide to the Customer from time to time in connection with any services provided by the Bank; i) The Customer leaving the Bank’s website and linking to and from any third party’s website and linking to and from any third party’s website or otherwise not securing its banking information, passwords, security codes, and anything incidental thereto from a third party; or j) The transmission of viruses or other destructive or contaminating properties and any related damage to the Customer’s computer system.

Bank’s Responsibility. The Bank will not be responsible for any loss or damage suffered or incurred by the Customer except in a case where there has been gross negligence on the part of the Bank, and in any such case the Bank will not be liable for any indirect, consequential or exemplary damages (including but not limited to loss of profits), regardless of the cause of action. In no event will the Bank be liable liab le for any loss or damage suffered by the Customer that is caused by: a) the actions of, or any failure to act by, any third party (and no third party will be considered to be acting as an agent for the Bank); except if said third party is acting under specific instructions from the Bank. b) inaccuracies in or inadequacies of any information furnished by the Customer to the Bank; c) a forged or unauthorized signature or a material alteration on any Instrument, unless (A) it was made by a person who was at no time the Customer’s employee, officer, director or agent and (B) its occurrence was beyond the Customer’s control; or d) Any delay, error or interruption or failure by the Bank to perform or fulfill any of its obligations to the Customer due to any cause beyond the Bank’s control (including but not limited to any systems malfunction, technical failures, or if the information retrieved by the Bank is not timely, complete or accurate); e) any missing, incomplete or fraudulent endorsement of any instrument or any counterfeit cheques f) the communication facilities that are not under the Bank’s control that may affect the timeliness, completeness or accuracy of any information or that may cause a delay in the retrieval or presentment of any information; g) the Bank relying or acting upon any electronic communication pursuant to this Agreement; h) The Customer’s failure to fulfill any of its obligations under this Agreement or to comply with any instructions the bank may provide to the Customer from time to time in connection with any services provided by the Bank; i) The Customer leaving the Bank’s website and linking to and from any third party’s website and linking to and from any third party’s website or otherwise not securing its banking information, passwords, security codes, and anything incidental thereto from a third party; or j) The transmission of viruses or other destructive or contaminating properties and any related damage to the Customer’s computer system.