Erroneous Transactions Clause Samples
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Erroneous Transactions. If CERES receives written notice of an erroneous transaction, such as sending transactions to an incorrect account or sending an incorrect number of Coins to a correct account, C▇▇▇▇ will adjudicate and confirm the error. Once adjudicated and confirmed, CERES will reverse the transaction by sending an offsetting transaction to the CERES Platform. Then, CERES will reprocess the transaction to correct the error. Any losses resulting from this activity will be Ceres’ responsibility.
Erroneous Transactions. 7.1 The QFII Applicant, in its capacity as QFII and on behalf of the Funds, shall send to the Bank through the Global Custodian its settlement instructions in respect of executed securities transactions and shall procure the relevant PRC Broker to send to the Bank execution reports regarding the orders such PRC Broker has executed on behalf of the QFII Applicant for a Fund on each Trading Day in such format, by such means, and within such time frame as agreed by the Bank, the QFII Applicant, and the relevant PRC Broker. In any event, the Bank shall not be liable for any Losses incurred by the QFII Applicant due to any acts or omissions committed by any PRC Broker, the QFII Applicant, a Fund, CSDCC, CSRC, SAFE, the Stock Exchanges, the clearing bank of CSDCC and any other relevant PRC authorities.
7.2 The Bank shall notify the QFII Applicant through the Global Custodian by the deadline and by such means as agreed between the QFII Applicant, and the Bank on each day on which any settlement of transactions is to take place of any discrepancy between the execution report provided to the Bank by the relevant PRC Broker, the settlement instructions provided to the Bank by the QFII Applicant on behalf of a Fund through the Global Custodian, and/or the securities trading and clearing data received by the Bank from CSDCC; provided that the Bank receives the report from the relevant PRC Broker, the settlement instructions from the QFII Applicant on behalf of a Fund through the Global Custodian, and/or data from CSDCC by such deadlines as have been agreed by the QFII Applicant, and the Bank, and where applicable, CSDCC.
7.3 The QFII Applicant, in its capacity as QFII and on behalf of the Funds, agrees to notify the Bank through the Global Custodian immediately on becoming aware of any discrepancy between its trading instructions to the relevant PRC Broker and the orders executed by such PRC Broker. The QFII Applicant, in its capacity as QFII and on behalf of the Fund, acknowledges that if any discrepancies cannot be resolved on such Trading Day, the settlement of securities and cash will be conducted in accordance with the securities trading and clearing data held by the CSDCC and undertakes that the QFII Applicant shall, and to procure the relevant PRC Broker to use their best endeavors to resolve the discrepancy as soon as reasonably practicable and notify the Bank through the Global Custodian of the solution or action to be taken accordingly.
7.4 In the event of a...
Erroneous Transactions a. The Bank reserves the right, and the Customer does hereby authorize the Bank to debit the Customer’s Account with respect to any funds erroneously credited to the Customer’s Account due to a computer system error, technical error or malfunction, human error, clearing system error or any other reason, without any liability and/or claim arising against the Bank.
Erroneous Transactions. If the Sending Organization determines that it had sent a transaction in error, then the organization has the option to report the matter to the TreasuryDirect ACH Operational Staff. The TreasuryDirect staff will handle each instance of an erroneously transmitted ACH credit on a case-by-case basis. The specific regulations governing this process are cited in Title 31 of the Code of Federal Regulations Section 363.