Common use of Client's Liability Clause in Contracts

Client's Liability. The client agrees to notify Alterna immediately if the client becomes aware of unusual, suspicious or fraudulent activity on any Account, a mobile device used to conduct banking with Alterna is lost or stolen, or if the Password becomes known to anyone other than the client or a Signing Authority on the Account. The client will not be liable for unauthorized Transactions that occur after the client has notified Alterna that the client’s online or telephone banking has been compromised or that the Password has become known to someone else, provided Alterna is able to confirm the date and time of the report and the clarity of the information provided in the client’s notification.