Common use of Notice of Errors Clause in Contracts

Notice of Errors. All transfers will appear on the Member’s regular account statement. It is the Member’s obligation to examine their statement for any errors concerning any Wire Transfer. If offered, for subject international wire transfers an error includes: (i) an incorrect amount paid by the Credit Union, (ii) a computational or bookkeeping error by the Credit Union, (iii) the failure to make the amount of currency available to the designated recipient as stated on any prepayment or receipt disclosure except estimated amounts or (iv) the failure to make funds available to the designated recipient as stated on any prepayment or receipt disclosure except a failure due to extraordinary circumstances outside the Credit Union’s control that could not have been reasonably anticipated. If the Member fails to notify the Credit Union of any errors within one hundred and eighty (180) days after the disclosed date of availability of the foreign wire transfer funds, the Credit Union shall not be liable for such error. In the event that the funds transfer is delayed or erroneously executed and a loss is suffered as a result of the Credit Union’s error, its sole obligation is to pay or refund such amounts as may be required by applicable law. If the Credit Union becomes obligated under Article 4A to pay interest, the rate of interest to be paid shall be equal to the dividend rate on a daily basis, applicable to the account at the Credit Union to which the funds transfer should have been made or from which the funds transfer was made.

Notice of Errors. All transfers will appear on the Member’s regular account statement. It is the Member’s obligation to examine their statement for any errors concerning any Wire Transfer. If offeredotfered, for subject international wire transfers an error includes: (i) an incorrect amount paid by the Credit Union, (ii) a computational or bookkeeping error by the Credit Union, (iii) the failure to make the amount of currency available to the designated recipient as stated on any prepayment or receipt disclosure except estimated amounts or (iv) the failure to make funds available to the designated recipient as stated on any prepayment or receipt disclosure except a failure due to extraordinary circumstances outside the Credit Union’s control that could not have been reasonably anticipated. If the Member fails to notify the Credit Union of any errors within one hundred and eighty (180) days after the disclosed date of availability of the foreign wire transfer funds, the Credit Union shall not be liable for such error. In the event that the funds transfer is delayed or erroneously executed and a loss is suffered sutfered as a result of the Credit Union’s error, its sole obligation is to pay or refund such amounts as may be required by applicable law. If the Credit Union becomes obligated under Article 4A to pay interest, the rate of interest to be paid shall be equal to the dividend rate on a daily basis, applicable to the account at the Credit Union to which the funds transfer should have been made or from which the funds transfer was made.