Common use of Quoting Error Clause in Contracts

Quoting Error. If a quoting error occurs due to a typographical error made by Argentex or there is an obvious mistake in an exchange rate quote provided by Argentex to the Client in relation to an Instruction made by telephone or facsimile or letter or email (Quoting Error), Argentex shall not be liable for any Losses, or liabilities whatsoever (including indirect or special damages, or loss of profits), arising from the Quoting Error. Argentex will make reasonable efforts to correct the Quoting Error and recover the funds involved in the relevant transaction. Any dispute arising from a Quoting Error will be resolved on the basis of fair market rate as determined by Argentex acting reasonably, of the relevant currency and quantity at the time the Quoting Error occurred.