Common use of Error Detection Clause in Contracts

Error Detection. Financial Institution has no obligation to discover and shall not be liable to Third-Party Sender for errors made by Third-Party Sender, including but not limited to errors made in identifying the Receiver, or an Intermediary or RDFI or for errors in the amount of an Entry or for errors in Settlement Dates. Financial Institution shall likewise have no duty to discover and shall not be liable for duplicate Entries issued by Third-Party Sender. Notwithstanding the foregoing, if the Third-Party Sender discovers that any Entry it has initiated was in error, it shall notify the Financial Institution of such error. If such notice is received no later than four (4) hours prior to the ACH processing deadline, the Financial Institution will utilize reasonable efforts to initiate an adjusting Entry or stop payment of any On-Us” credit Entry within the time limits provided by the Rules. In the event that Third-Party Sender makes an error or issues a duplicate Entry, Third-Party Sender shall indemnify, defend all claims, and hold Financial Institution harmless from any loss, damages, or expenses, including but not limited to attorney's fees, incurred by Financial Institution as result of the error or issuance of duplicate Entries.

Error Detection. Financial Institution has no obligation to discover and shall not be liable to Third-Party Sender for errors made by Third-Party Sender, including but not limited to errors made in identifying the Receiver, or an Intermediary or RDFI or for errors in the amount of an Entry or for errors in Settlement Dates. Financial Institution shall likewise have no duty to discover and shall not be liable for duplicate Entries issued by Third-Party Sender. Notwithstanding the foregoing, if the Third-Party Sender discovers that any Entry it has initiated was in error, it shall notify the Financial Institution of such error. If such notice is received no later than four (4) hours prior to the ACH processing deadline, the Financial Institution will utilize reasonable efforts to initiate an adjusting Entry or stop payment of any On-Us” credit Entry within the time limits provided by the Rules. In the event that Third-Third- Party Sender makes an error or issues a duplicate Entry, Third-Party Sender shall indemnify, defend all claims, and hold Financial Institution harmless from any loss, damages, or expenses, including but not limited to attorney's fees, incurred by Financial Institution as result of the error or issuance of duplicate Entries.

Error Detection. Financial Institution Bank has no obligation to discover and shall not be liable to Third-Party Sender for errors made by Third-Party Sender, including but not limited to errors made in identifying the Receiver, or an Intermediary or RDFI or for errors in the amount of an Entry or for errors in Settlement Dates. Financial Institution Bank shall likewise have no duty to discover and shall not be liable for duplicate Entries issued by Third-Party Sender. Notwithstanding the foregoing, if the Third-Party Sender discovers that any Entry it has initiated was in error, it shall notify the Financial Institution Bank of such error. If such notice is received no later than four (4) hours prior to the ACH processing receiving deadline, the Financial Institution Bank will utilize reasonable efforts to initiate an adjusting Entry process any received request or file or stop payment of any “On-Us” credit Credit Entry within the time limits provided by the Rules. In the event that Third-Party Sender makes make an error or issues a duplicate Entry, Third-Party Sender shall indemnify, defend all claims, and hold Financial Institution Bank harmless from any loss, damages, or expenses, including but not limited to attorney's fees, incurred by Financial Institution Bank as result of the error or issuance of duplicate Entries.