Common use of Liability for Loss of Property Clause in Contracts

Liability for Loss of Property. Until Bank, or the Bank’s vault location, has finally received and physically verified any Deposit, Bank accepts no liability for loss of any Depository Bag or Smart Safe Cassette or Deposit or any losses or damages incurred by Customer with respect to the Deposit. Bank shall not be deemed to have finally received and accepted any Deposit until such Deposit has been physically verified by Bank or on Bank’s behalf at a Bank vault location at the direction of Bank. Bank shall not be liable as an insurer of the Property, including Depository Bags and Smart Safe Cassettes. The Bank also ceases to be liable for the delivery of coin or currency shipped to Customer pursuant to a Change Order at such time as the Customer’s Courier or other Representative signs for other otherwise acknowledges receipt of a shipment of a Change Order.