Common use of Transaction Responsibility Clause in Contracts

Transaction Responsibility. As between the parties hereto, you agree that (i) you are solely responsible for the performance and enforcement of any Transaction entered into by you with a Counterparty through the use of Online Systems and (ii) neither we nor any of our Affiliates will have any obligation or liability in respect of or be responsible for, or otherwise be deemed to guarantee, the performance of any Transaction entered into by you with a Counterparty through the use of Online Systems. You further agree that you will not bring any legal action, whether in tort, breach of contract or otherwise, against us alleging damages for the failure of any Counterparty to perform or otherwise settle a Transaction entered by you using Online Systems. Instead, you agree that you look only to the relevant Counterparty in question for the performance by such Counterparty of any obligation under a Transaction or to enforce any rights in connection with, or as a result of, such Transaction. Neither we nor any of its Affiliates will have any obligation or responsibility (1) in respect of any Transaction Documentation provided to you by a Counterparty, (2) in respect of requiring any Counterparty to enter into or maintain in force any such Transaction Documentation with you or (3) to assist in any way in respect of compliance by you or any Counterparty with any such Transaction Documentation or the interpretation or enforcement of the obligations of any party under such Transaction Documentation. The eligibility and ability of you to enter into transactions with or submit orders for routing to a Counterparty is subject to the terms and conditions, including fees and credit limits, specified in any Transaction Documentation or otherwise specified in writing to us by such Counterparty. We may, in our sole discretion, assist you or any Counterparty in monitoring and ensuring adherence to applicable credit limits and you hereby authorise us to disclose information to any Counterparty for this purpose. The manner in which such assistance, if any, is provided and the terms and conditions pursuant to which any such assistance is provided shall be determined by us in our sole discretion. Notwithstanding the foregoing, as between you on the one hand and us on the other hand, you shall maintain the sole responsibility for ensuring that you are in compliance with any credit limits imposed on you by any Counterparty and that each Counterparty is in compliance with any credit limits imposed on such Counterparty by you.

Transaction Responsibility. As between the parties hereto, you agree that (i) you are solely responsible for the performance and enforcement of any Transaction entered into by you with a Counterparty through the use of Finalto Online Systems and (ii) neither we nor any of our Affiliates will have any obligation or liability in respect of or be responsible for, or otherwise be deemed to guarantee, the performance of any Transaction entered into by you with a Counterparty through the use of Finalto Online Systems. You further agree that you will not bring any legal action, whether in tort, breach of contract or otherwise, against us alleging damages for the failure of any Counterparty to perform or otherwise settle a Transaction entered by you using Finalto Online Systems. Instead, you agree that you look only to the relevant Counterparty in question for the performance by such Counterparty of any obligation under a Transaction or to enforce any rights in connection with, or as a result of, such Transaction. Neither we nor any of its Affiliates will have any obligation or responsibility (1) in respect of any Transaction Documentation provided to you by a Counterparty, (2) in respect of requiring any Counterparty to enter into or maintain in force any such Transaction Documentation with you or (3) to assist in any way in respect of compliance by you or any Counterparty with any such Transaction Documentation or the interpretation or enforcement of the obligations of any party under such Transaction Documentation. The eligibility and ability of you to enter into transactions with or submit orders for routing to a Counterparty is subject to the terms and conditions, including fees and credit limits, specified in any Transaction Documentation or otherwise specified in writing to us by such Counterparty. We may, in our sole discretion, assist you or any Counterparty in monitoring and ensuring adherence to applicable credit limits and you hereby authorise us to disclose information to any Counterparty for this purpose. The manner in which such assistance, if any, is provided and the terms and conditions pursuant to which any such assistance is provided shall be determined by us in our sole discretion. Notwithstanding the foregoing, as between you on the one hand and us on the other hand, you shall maintain the sole responsibility for ensuring that you are in compliance with any credit limits imposed on you by any Counterparty and that each Counterparty is in compliance with any credit limits imposed on such Counterparty by you.