Quality Service Standards/NAV Errors Sample Clauses
The Quality Service Standards/NAV Errors clause establishes the required standards for service quality, particularly in the calculation and reporting of Net Asset Value (NAV) for investment funds. It typically outlines the procedures and benchmarks that service providers must follow to ensure accuracy, and may specify corrective actions or compensation if NAV errors occur. This clause is essential for maintaining trust and transparency between parties, as it helps prevent financial discrepancies and ensures that any mistakes in NAV calculations are promptly addressed and rectified.
Quality Service Standards/NAV Errors. Price Associates and the Fund may, from time to time, agree to certain quality service standards, with respect to the Services hereunder. In the event Price Associates is the party responsible for causing an error in the computation of the net asset value for a Fund or share class of a Fund (“NAV Error”), the actions that are required to be taken as to such NAV Error shall be made in accordance with the Fund’s Net Asset Value Error Correction Policy and Procedures (“NAV Error Policy”).