Common use of Responsibility for Data Clause in Contracts

Responsibility for Data. J▇▇ will use reasonable care in the processing of the accounts for Client and reports to Client. Client agrees to promptly check and verify all of the reports received from J▇▇ to ascertain that all data has been processed and reported correctly, and to report any discrepancies to J▇▇ not later than three (3) business days following receipt of such reports. Business days will be defined to be Monday through Friday, from 8:00 A.M. to 5:00 P.M. EST. Failure to report any discrepancies within the time prescribed in the previous sentences shall constitute a conclusive presumption that such reports are correct and accurate. J▇▇ will provide safeguards determined at its discretion to ensure protection against destruction of records and Software by fire or other disasters, loss of data in transit or machine or human error, or unauthorized manipulation of data or reports insofar as can reasonably be expected using then current techniques and/or then current accepted business practices for storage and transfer of magnetic media.