Liability; Interest Payable. We may be responsible for your direct expenses if we fail to exercise ordinary care in carrying out your instructions in connection with a wire transfer transaction. In no event, however, will we be liable for any special, indirect, exemplary, or consequential damages (including lost profits) of any kind. We are not required to pay interest on any amount we may owe to you due to an unauthorized wire transfer arising out of our error unless you exercise ordinary care to discover the unauthorized transfer and promptly advise us of the relevant facts within the time period set forth below in the Account Statements paragraph. Any rate of interest that we might be obligated to pay to you as a matter of law for a delay or incorrect transfer arising out of our error will be the lower of the federal funds rate at the time of the correction or the dividend or interest rate that we pay on the Account to or from which the funds transfer should have occurred.
Liability; Interest Payable. We may be responsible for your direct expenses if we fail to exercise ordinary care in carrying out your instructions in connection with a wire transfer transaction. IN NO EVENT, HOWEVER, WILL WE BE LIABLE FOR ANY SPECIAL, INDIRECT, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS) OF ANY KIND. WE ARE NOT REQUIRED TO PAY INTEREST ON ANY AMOUNT WE MAY OWE TO YOU DUE TO AN UNAUTHORIZED WIRE TRANSFER ARISING OUT OF OUR ERROR UNLESS YOU EXERCISE ORDINARY CARE TO DISCOVER THE UNAUTHORIZED TRANSFER AND PROMPTLY ADVISE US OF THE RELEVANT FACTS WITHIN THE TIME PERIOD SET FORTH BELOW IN THE ACCOUNT STATEMENTS PARAGRAPH. ANY RATE OF INTEREST THAT WE MIGHT BE OBLIGATED TO PAY TO YOU AS A MATTER OF LAW FOR A DELAY OR INCORRECT TRANSFER ARISING OUT OF OUR ERROR WILL BE THE LOWER OF THE FEDERAL FUNDS RATE AT THE TIME OF THE CORRECTION OR THE DIVIDEND RATE THAT WE PAY ON THE ACCOUNT TO OR FROM WHICH THE FUNDS TRANSFER SHOULD HAVE OCCURRED. RBFCU WILL NOT BE LIABLE FOR ANY LOST OR MISAPPLIED FUNDS CAUSED BY ERRONEOUS TRANSFER DETAILS PROVIDED TO US. PLEASE ENSURE YOU VERIFY ALL TRANSFERS DETAILS TO ENSURE PROMPT AND ACCURATE DELIVERY. For additional terms governing Remittance Transfers, please see Section 15 below. The Credit Union will not be liable for failure to comply with the terms of a wire transfer agreement caused by legal constraint, interruption, or failure of transmission and/or communications facilities, war, emergency, labor dispute, act of nature, or other circumstances beyond our control.
Liability; Interest Payable. We may be responsible for your actual losses or expenses, to the extent recoverable under Chapter 4A or other applicable law, if we fail to exercise ordinary care in carrying out your instructions in connection with a wire transfer transaction. We are not responsible for the acts or omissions of third parties though whom payments are sent, even if those parties have acted as our agent. We are not responsible for detecting errors in any wire transfer or other payment order provided to us. In no event, will we be liable for any special, indirect, exemplary, or consequential damages (including lost profits) of any kind arising out of a wire transfer transaction, even if we have been advised or should have known of the possibility of such damages. We are not required to pay interest on any amount we may owe to you due to an unauthorized wire transfer arising out of our error unless you exercise ordinary care to discover the unauthorized transfer and promptly advise us of the relevant facts within the time period set forth below in the Account Statements section below. Any rate of interest that we might be obligated to pay to you as a matter of law for a delay or incorrect transfer arising out of our error will be the lower of the federal funds rate at the time of the correction or the dividend or interest rate that we pay on the account to or from which the funds transfer should have occurred. You agree to indemnify and hold us harmless from any cost, liability, expense (including reasonable attorney’s fees) arising out of any claim by a third party alleging that any payment order of yours contravenes or compromises the rights, title, or interest of any third party or contravenes any law, rule, regulation, ordinance, court order, or other mandate or prohibition with the force an effect of law (a “Claim”), unless the Claim arises out of our failure to exercise ordinary care, failure to act in good faith, or failure to act in accordance with your instructions given pursuant to this Agreement.
