Responsibility for Errors in Execution Clause Samples

Responsibility for Errors in Execution. Introducing Firm shall be responsible for transmission to Clearing Agent of all orders and for any errors in the Introducing Firm’s recording or transmission of such orders.

Responsibility for Errors in Execution. As between Broker and GAIN, GAIN shall be responsible for all Customer orders and deals and for any errors in the recording, transmission, processing, execution, clearing, settlement or reporting of such orders or deals. Broker shall be responsible to transmit to GAIN Orally-transmitted Trade orders it receives from Customers.

Responsibility for Errors in Execution. Broker shall be responsible for transmission to RJO of all orders and for any errors in the Broker’s or its Customers’ recording or transmission of such orders.

Responsibility for Errors in Execution. Correspondent shall be responsible for transmission to Clearing Broker of all orders and for any errors in the Correspondent's recording or transmission of such orders.

Responsibility for Errors in Execution. Broker shall be responsible for transmission to Fortis of all orders and for any errors in the Broker's recording or transmission of such orders.

Responsibility for Errors in Execution. For transactions where ConvergEx acted as the executing broker, ConvergEx shall have no liability to Broker or to any of Broker’s Customers for any loss or damage suffered by an Account with respect to the execution, clearance and/or settlement of any transaction, with the exception of any grossly negligent, dishonest, fraudulent or criminal conduct on the part of ConvergEx or of its officers, directors or employees when acting within the scope of their employment with respect to the services provided by ConvergEx under this Agreement. The amount of any such liability shall be limited to the difference between the purchase or sale price at which the securities order in question was executed and the price at which it would have been executed but for the error.