Application Fraud Sample Clauses
The Application Fraud clause defines the consequences and procedures if a party is found to have provided false, misleading, or fraudulent information during the application process. Typically, this clause allows the other party—often a lender, insurer, or service provider—to void, terminate, or rescind the agreement if fraud is discovered, regardless of when it is detected. Its core function is to protect the integrity of the contract by deterring dishonest behavior and providing a clear remedy if fraud occurs, thereby allocating risk and ensuring trust between the parties.
Application Fraud. Client agrees that it shall be responsible for, and liable to Bank, for all losses arising out of any fraudulent Application, up to and including the full amount of any credit extended by Bank in connection such fraudulent Application. Client further agrees that it shall be responsible for, and liable to Bank, for claims from a consumer related to any fraudulent Application submitted on their behalf, except to the extent such claim arise out of Bank’s (i) error or omission, gross negligence, willful misconduct or bad faith, or (ii) the failure of Bank to comply with, or to perform its obligations under, this Agreement.
Application Fraud. Customer is solely responsible for fraud and/or misrepresentation by Subscriber with respect to completion and submission for application of Services.