Common use of Compensation for breach of duty Clause in Contracts

Compensation for breach of duty. (1) In the event of non-execution, defective execution or late execution of an authorised credit transfer or of an unauthorised credit transfer, You may claim compensation from the Bank for any loss or damage not already covered by Sections 10.1 and 10.2. This shall not apply if the Bank is not responsible for the breach of duty. The Bank shall be liable for any fault attributable to an intermediary body in the same way as for its own fault, unless the essential cause lies with an intermediary body specified by You. If You have contributed to the occurrence of a loss by culpable conduct, the principles of contributory negligence shall determine the extent to which the Bank and the customer shall have to bear the loss.