Common use of Liability of Client Clause in Contracts

Liability of Client. 12.1.1. The Client is liable for the correctness, completeness, accuracy and timely submission of the information, inter alia the unique identifier and documents, submitted to the Bank and for the lawfulness of transactions. 12.1.2. The Client will compensate the Bank for the damage caused by the failure of the Client or their representative to perform the Account Agreement or by improper performance thereof. 12.1.3. The Client is liable for all of the transactions made on their order, inter alia transactions related to the Account, that have been made by the Client’s representative. 12.1.4. The Client is liable for the damage that the Bank has suffered due to Client's having submitted documents and/or orders that are forged or incorrectly or incompletely filled in. 12.1.5. The Client must immediately inform the Bank about an unauthorised payment or amount transferred to the Client’s Account in error and, in the latter case, guarantee the preservation of such an amount until it is returned to the entitled person.