Common use of Claim of Loss Clause in Contracts

Claim of Loss. If you claim a credit or refund because of a forgery, alteration, or any other unauthorized withdrawal, you agree to cooperate with the Credit Union in the investigation of the loss, including giving us an affidavit containing whatever reasonable information the Credit Union requires concerning your account, the transaction, and the circumstances surrounding the loss. You will notify law enforcement authorities of any criminal act related to the claim of lost, missing or stolen checks, or unauthorized withdrawals. The Credit Union will have a reasonable period of time to investigate the facts and circumstances surrounding any claim of loss. Unless the Credit Union has acted in bad faith, the Credit Union will not be liable for special or consequential damages, including loss of profits or opportunity, or for attorneys' costs incurred by you. You agree that you will not waive any rights you have to recover your loss against anyone who is obligated to repay, insure, or otherwise reimburse you for your loss. You will pursue your rights or, at our option, assign them to us so that we may pursue them. Our liability will be reduced by the amount you recover or are entitled to recover from these other sources.