Common use of RESPONSIBILITY FOR COMMUNICATIONS Clause in Contracts

RESPONSIBILITY FOR COMMUNICATIONS. The Client alone shall bear all the risks associated with the use of postal or courier services. All other means of transmission of instructions and information (including, without limitation, by telephone, fax, e-mail or any other similar means of communication) shall be referred to in these terms and conditions as "Unauthenticated Messages". The Client accepts responsibility for and agrees that the Bank will incur no liability (save for fraud, negligence or wilful misconduct) for all consequences of using Unauthenticated Messages (including transmission errors, misunderstandings, damage, delays, loss or interference by third parties). In particular, the Client agrees that the Bank shall not be liable as a result of the Bank acting correctly or incorrectly (or failing to act) upon Unauthenticated Messages communicated to it by the Client where (i) such action or inaction is attributable to a reasonable misunderstanding or uncertainty on the Bank’s part concerning the contents, source or meaning of the Unauthenticated Message or (ii) such action or inaction is attributable to receipt by the Bank of an Unauthenticated Message which does not originate from the Client (or from his specified agent or representative). In the absence of the Bank’s fraud, negligence or wilful misconduct, the Client accepts responsibility for all losses and / or expenses incurred or sustained by the Bank which may be brought against the Bank as a result of the Bank having acted correctly or incorrectly (or having failed to act) on the basis of Unauthenticated Messages communicated to it by the Client. The Client is solely responsible and liable for all activities conducted using the e-mail address(es) provided to the Bank and any unauthorised disclosure of such information resulting from the use of such e-mail addresses. The Bank shall not be responsible for the security of any information or data contained in such e-mail correspondence or for the accuracy, completeness or timeliness of any information sent to or received from such e-mail addresses.