Common use of Cascade FCU’s Liability for Errors Clause in Contracts

Cascade FCU’s Liability for Errors. If Cascade FCU does not properly complete a transaction according to this agreement, Cascade FCU may be liable for your losses or damages but not to exceed the amount of the transaction, except as otherwise provided by law. Cascade FCU will not be liable if: (a) through no fault of Cascade FCU, your account does not contain enough money to make the transaction, (b) circumstances beyond Cascade FCU’s control prevents the transaction, (c) your loss is caused by your negligence including your failure to examine your statements, (d) the negligence of another financial institution, or (e) the funds in your account is subject to legal process or other claim. Cascade FCU will not be liable for consequential damages except liability for wrongful dishonor. Cascade FCU’s actions will constitute the exercise of ordinary care if such actions or nonactions are consistent with applicable state law, Federal Reserve regulations and operating letters, clearing house rules, and general banking practices followed in the area serviced by Cascade FCU. You grant Cascade FCU the right, in making payments of deposited funds, to rely exclusively on the form of the account and the terms of this account agreement. Any conflict between oral representations by you or Cascade FCU employees and any written form will be resolved by reference to this agreement and applicable written form.