Common use of Errors in pricing Clause in Contracts

Errors in pricing. (a) It is possible that errors, omissions or misquotes (“Material Error”) may occur in the pricing of CFDs quoted by us, which by fault of either of us or any third party, is materially incorrect when taking into account market conditions and quotes in Underlying Products which prevailed at the time. A Material Error may include an incorrect price, date, time or CFD or any error or lack of clarity of any information. If a trade is based on a Material Error, we reserve the right without your consent to: (i) amend the terms and conditions of the Contract to reflect what we consider to have been the fair price at the time the Contract was entered into and there had been no Material Error; (ii) close the trade and any open Positions resulting from it; (iii) void the Contract from the outset; or (iv) refrain from taking action to amend or void the Contract. (b) We will exercise the right in paragraph 4.14(a) reasonably, in good faith and as soon as reasonably practicable after we become aware of the Material Error. To the extent practicable, we will give you prior notice of any action we take under this clause 4.14; but if it is not practicable we will give you notice as soon as practicable afterwards. In the absence of fraud or gross negligence on our part, we are not liable to you for any loss, cost, claim, demand or expense that you incur or suffer (including loss of profits or indirect or consequential losses), arising from or connected with the Material Error including where the Material Error arising from an information service on which we rely. (c) In the event that a Material Error has occurred and we exercise our rights under paragraph 4.14(a), we may, without notice, adjust your Account or require that any moneys paid to you in relation to Contract the subject of the Material Error be repaid to us as a debt due payable to us on demand.

Errors in pricing. (a) It is possible that errors, omissions or misquotes (“Material Error”) may occur in the pricing of CFDs quoted by us, which by fault of either of us or any third party, is materially incorrect when taking into account market conditions and quotes in Underlying Products which prevailed at the time. A Material Error may include an incorrect price, date, time or CFD or any error or lack of clarity of any information. If a trade is based on a Material Error, we reserve the right without your consent to: (i) amend the terms and conditions of the Contract to reflect what we consider to have been een the fair price at the time the Contract was entered into and there had been no Material Error; (ii) close the trade and any open Positions resulting from it; (iii) void the Contract from the outset; or (iv) refrain from taking action to amend or void the Contract. (b) We will exercise the right in paragraph 4.14(a) reasonably, in good faith and as soon as reasonably practicable after we become aware of the Material Error. To the extent practicable, we will give you prior notice of any action we take under this clause 4.14; but if it is not practicable we will give you notice as soon as practicable afterwards. In the absence of fraud or gross negligence on our part, we are not liable to you for any loss, cost, claim, demand or expense that you incur or suffer (including loss of profits or indirect or consequential losses), arising from or connected with the Material Error including where the Material Error arising from an information service on which we rely. (c) In the event that a Material Error has occurred and we exercise our rights under paragraph 4.14(a), we may, without notice, adjust your Account or require that any moneys paid to you in relation to Contract the subject of the Material Error be repaid to us as a debt due payable to us on demand.