LIABILITIES OF THE PARTIES Clause Samples
The "Liabilities of the Parties" clause defines the responsibilities and potential legal obligations each party assumes under the agreement. It typically outlines the circumstances under which a party may be held liable for damages, losses, or breaches, and may specify limits on liability or exceptions, such as cases of gross negligence or willful misconduct. This clause serves to allocate risk between the parties, ensuring that each understands the extent of their exposure and helping to prevent disputes over responsibility if issues arise during the contract's performance.
POPULAR SAMPLE Copied 16 times
LIABILITIES OF THE PARTIES. 6.1 For non-performance or improper performance of obligations under this Agreement, the Parties shall be liable in accordance with the current Legislation.
6.2 The Client shall be liable:
6.2.1 for complying with the security requirements set out in the Remote Banking Servicing Rules (Appendix 3 to this Agreement) as well as for losses and (or) other consequences resulting from failure to comply with these security measures;
6.2.2 for ensuring the security and confidentiality of the System access credentials (Login, Password, OTP device) and Call-Back Contact Details required for additional Call-Back Authorization of the Client's EPD in foreign currency;
6.2.3 for losses that may arise as a result of unauthorized use of the System access credentials (Login, Password and/or OTP device), unauthorized use of Call-Back Contact Details required to perform additional Call-Back Authorization of the Client’s EPD in foreign currency, as well as for non- performance / improper performance of established security and confidentiality measures set out in the Remote Banking Servicing Rules (Appendix 3 to this Agreement);
6.2.4 for unauthorized access by third parties to the use of the System services as a result of the Client own intent or negligence as well as for all consequences caused by such unauthorized access;
6.2.5 for any consequences that may arise as a result of any action or initiative taken by the Client (with or without the Client's knowledge) or third parties using the Client's access credentials (Login, Password, OTP device) for managing the Client's accounts via the System or using Call-Back Contact Details required to perform additional confirmation of the Clients EPD in foreign currency; Information on amendments: in accordance with the Management Board Protocol # 45 dated 07.06.2021, Section 6 of the Public Offer was supplemented by clause 6.2.6 (clause 6.3 in the previous version) (the amendments shall come into force from 21.06.2021)
6.2.6 The Сlient is responsible for complying with the rules for the use of payment instruments, the procedure for drawing up and authorization of ED/EPDs in accordance with the Legislation. Information on amendments: in accordance with the Management Board Protocol # 45 dated 07.06.2021, clause 6.3 of the Public Offer was set out in a new wording (the amendments shall come into force from 21.06.2021)
6.3 The Bank shall be liable for the correct reflection of transactions on the Client’s account and the timely transmi...
LIABILITIES OF THE PARTIES. 11.1. The Parties acknowledge that the Seller has a legitimate interest in ensuring prompt payment under the Contract. Should the Buyer breach the terms of payment stipulated in Clause 6 of the Contract and corresponding additional agreements, the Buyer shall pay to the Seller liquidated damages of 0.05% of the amount outstanding per full calendar day of the payment delay. Should the Buyer fail to make 100% payment of Goods cost within 2 days of the time stipulated for payment, the Seller has the right, at its sole discretion, to terminate the Contract by written notice to the Buyer and without further liability upon the Seller. Should the Buyer breach the terms of signing of additional agreements both on provisional price and on final one, and the terms of fulfillment of final settlement, indicated in cl.8.3, the Seller reserves the right at its sole discretion, not to nominate the future Goods lots with further postponement of the delivery or decrease of the whole amount under the current Contract and / or to terminate the Contract without further liability upon the Seller. The Seller and the Buyer are relieved from any responsibility for the partial or complete default of their obligations under the Supply Сontract, if they prove by the documents that proper fulfillment of their obligations became impossible due to shut-down, unscheduled repairs of JSC Naftan OR facilities or due to force-majeure occurrence. The Parties shall bear no responsibility for the failure to properly fulfil their obligations under the Contract by virtue of provisions of law or other laws and regulations (other documents binding for the Seller / consignor) currently in force that prevent the Contract fulfilment, adopted by the respective state authorities or organizations and Belarusian State Concern of Oil and Chemistry (Belneftekhim concern) in particular, in case they were adopted (published) after the Contract signing and directly affect its fulfillment.
11.2. The Parties acknowledge that the Seller has a legitimate interest in ensuring prompt and full loading of the stipulated quantity of Goods and that any failure of the Buyer to load the full quantity of Goods at the time specified in the Contract could cause the Seller significant loss and inconvenience. In particular, the Buyer understands that any such failure may cause the Seller to incur costs including, but not limited to, terminal storage charges, railway demurrage and / or infrastructure charges, and / or vessel d...
LIABILITIES OF THE PARTIES. Tenant waives all claims against Landlord for damages to goods or for injuries to persons on or about the Premises or common areas from any cause arising at any time other than damages or injuries directly resulting from LANDLORD'S negligence OR WILLFUL MISCONDUCT. The TENANT will indemnify Landlord on account of any damage or injury to any persons, or to the goods of any person, arising from the use of the Premises by the Tenant, or arising form the failure of Tenant to keep the Premises in good condition as provided herein. The Landlord shall not be liable to the Tenant for any damage by or from any act or negligence of any occupant of the same Building, or by any owner or occupant of adjoining or contiguous property. The Tenant agrees to pay for all damages to the Building, as well as all damage or injuries suffered by Tenant or occupants thereof caused by misuse or neglect of the Premises by the Tenant. Landlord is specifically not responsible under any circumstance for any damage to any computer, computer component, or computer peripheral, hardware or software damaged by any interruption, usage or variation for whatever reason in the electrical distribution system in the building. Notwithstanding any other term or provision herein contained, it is specifically understood and agreed that there shall be no personal liability of Landlord (nor Landlord's agent, if any) in respect to any of the covenants, conditions or provisions of this Lease. In the event of a breach or default by Landlord of any of its obligations under this Lease, Tenant shall look solely to the equity of the Landlord in the property for the satisfaction of ▇▇▇▇▇▇'s remedies, INCLUDING ALL SALES, INSURANCE AND CONDEMNATION PROCEEDS.
LIABILITIES OF THE PARTIES. 7.1 Activities performed by the Customer in pursuance hereof do not infringe laws, orders and other rules and regulations applicable to the Customer or to the Customer’s jurisdiction.
7.2 The Broker shall bear no liability for the Customer’s actions or omission.
7.3 The Broker shall bear no liability for default on obligations due to failure in communication channels, technical problems of the Internet service provider. The Broker shall bear no liability for losses incurred to the Customer due to the ignorance of the instructions outlined in the MetaTrader customer terminal user manual.
7.4 Claims for lost profits shall not be accepted for review. The Broker shall not be liable for compensating moral damages.
LIABILITIES OF THE PARTIES. For non-performance or improper performance of the obligations under this Agreement, the parties shall be liable in accordance with the current legislation of the Russian Federation.
LIABILITIES OF THE PARTIES. 5.1. The Bank is responsible for:
5.1.1. disclosure of banking secrecy – in accordance with the applicable legislation of the Republic of Kazakhstan;
5.1.2. delay in crediting the Account received by the Bank in favor of the Customer - in the amount of 0.02% of the untimely credited amount for each day of delay;
5.1.3. error transaction on the Account. The Bank's responsibility in this case is limited to the cancellation of erroneous transaction;
5.1.4. unauthorized payments made by its fault, after notification of the Customer of the loss, theft or unauthorized use of card has entered into force. Losses related to unauthorized payment shall be reimbursed by the Bank as a chargeback on the Account of the amount of unauthorized payment and commission for unauthorized payment;
5.1.5. unjustified denial of execution of payment service to the Customer. If the Customer has paid a commission for the service, the Bank shall compensate the Customer for the damage in the amount of the commission paid by the Customer. If the Customer has not paid the commission for the service, the Bank shall compensate the Customer for the damage in the amount of one monthly calculation index.
5.2. The Bank is not responsible for: 5.2.1. denial of servicing cards/club cards Priority Pass/Dragon Pass by third party;
LIABILITIES OF THE PARTIES. The liability of the parties shall be several, not joint or collective. Each party shall be responsible only for its obligations. It is not the intention of the parties to create, nor shall this agreement be construed as creating, a mining or other partnership, joint venture, agency relationship or association, or to render the parties liable as partners, co-venturers, or principals. In their relations with each other under this agreement, the parties shall not be considered fiduciaries or to have established a confidential relationship but rather shall be free to act on an arm's-length basis in accordance with their own respective interest.
LIABILITIES OF THE PARTIES. The Parties hereto shall be liable for improper performance and non-performance hereunder in a manner prescribed by the laws of the Russian Federation.
LIABILITIES OF THE PARTIES. 4.1. In case it is impossible to render the Services under the Specification, the Contractor shall refund the advance payment except for the expenses incurred in connection with filing the information inquiries as specified in provision 1.1. under this Agreement no later than 6 months after notifying the Customer about such impossibility.
LIABILITIES OF THE PARTIES and settlement of contractual breach