Common use of Liability of the Bank Clause in Contracts

Liability of the Bank. Neither the Bank nor any Group Entity nor any of their agents, business associates, officers or employees shall be liable for any losses suffered by the Client as a result of any transaction or service provided or not provided to the Client except to the extent that such losses are a direct result of the wilful misconduct, fraud or negligence of the Bank, or of any agent, broker, dealer, market maker or sub-custodian appointed by the Bank which is a Group Entity. In particular, without limitation, the Bank shall not be liable for any losses, costs or expenses: (a) incurred as a result of, or existing from, causes or conditions beyond the Bank's reasonable control, including but not limited to a breakdown or failure of transmission, communication or computer facilities, industrial action, act of terrorism, adverse market action, regulatory or governmental action, the failure of any exchange or clearing house; or (b) attributable to any act or omission of any agent, broker, dealer, market maker or sub-custodian appointed in connection with its services to the Client other than a Group Entity, provided that the Bank has not acted negligently in selecting that third party, or utilising its services or (c) incurred as a result of delays caused by compliance investigations relating to or in connection with the detection, investigation and prevention of financial crime. This may include intercepting and investigating any instruction, communication, application or any payment sent to or by you, or on your behalf. BANK HOLIDAYS The days on which the Bank is closed due to applicable laws or local practice, including Saturdays and Sundays, are deemed official bank holidays. The Bank accepts no responsibility for any damage or loss which might result from the Bank being closed on such bank holidays. CHARGE CARDS Should the Client order a charge card, the Client acknowledges and accepts that the Bank may be obliged to transmit to the issuing company the Client's identity and other details relating to the card holder. By using a charge card, the Client is aware that third parties might become aware of the existence of the Client's relationship with the Bank.