Common use of Liability Exclusion Clause in Contracts

Liability Exclusion. The Credit Union is not liable to you or any person for any delay, loss, lost profit, lost business or any loss, damage or inconvenience claim relating to the Account or arising or resulting from the Credit Union’s actions, activities or processes pursuant to this agreement regardless of any negligence, fault or wrongdoing by the Credit Union or any person the Credit Union is responsible. Deposit holds and verifications: You acknowledge and agree that the Credit Union has the right to place a “hold” on all or part of the proceeds of any Instrument deposited to the Account, and to defer your right to withdraw funds represented by such a deposit. All deposits are subject to verification and acceptance by the Credit Union and, if not accepted, or if accepted but subsequently determined to be in error, unauthorized, or worthless, the Credit Union may reverse them from the Account. Verification may take place at a date later than the date you authorized the deposit, which may affect the deposit date. We have the option to send any negotiable item on collection rather than hold the proceeds.