Incorrect Crediting of Account Sample Clauses
The Incorrect Crediting of Account clause defines the procedures and responsibilities when funds are mistakenly credited to the wrong account. Typically, this clause requires the party that received the incorrect funds to promptly notify the other party and return the funds, and may outline the process for correcting the error, such as reversing the transaction or making an adjusting entry. Its core practical function is to ensure that errors in account crediting are rectified efficiently, thereby maintaining accurate financial records and preventing disputes over misallocated funds.
Incorrect Crediting of Account. (a) Limitation of liability: Except in the case of our fraud, we do not accept responsibility for, nor are we liable for, any loss or damage suffered by you as a result of you trading on moneys deposited in or credited to your Account in error by, or upon behalf of, us.
(b) Permitted deductions: We are entitled at any time to deduct, without notice or recourse to you, any moneys deposited in, or credited to, your Account in error by, or on behalf of, us.
Incorrect Crediting of Account. (a) Limitation of liability: Except in the case of our fraud, we do not accept responsibility for, nor are we liable for, any loss or damage suffered by you as a result of you trading on moneys deposited in or credited to your Account in error by, or on behalf of, us.
(b) Permitted deductions: We are entitled at any time to deduct, without notice or recourse to you, any moneys deposited in, or credited to, your Account in error by, or on behalf of, us.
Incorrect Crediting of Account. 33.1. Except in the case of our fraud, we do not accept responsibility for, nor are we liable for, any loss or damage suffered by you as a result of you using moneys deposited in or credited to your Account in error by, or upon behalf of, us.
33.2. We are entitled at any time to deduct, without notice or recourse to you, any moneys deposited in, or credited to, your Account in error by, or on behalf of, us.
Incorrect Crediting of Account