Your Mistake Clause Samples
The "Your Mistake" clause defines the responsibilities and consequences if the party referred to as "you" makes an error under the agreement. Typically, this clause outlines what constitutes a mistake, such as providing incorrect information, failing to perform a required action, or breaching a specific obligation. It may specify remedies, such as correcting the error within a certain timeframe or compensating the other party for any resulting losses. The core function of this clause is to allocate risk and clarify accountability, ensuring that mistakes are addressed promptly and fairly to minimize disruption or harm.
Your Mistake. If your funds are sent to the wrong account as the result of a mistake made by you, and we have acted in accordance with your Instructions, we will be under no obligation either to recover the funds or to resend the funds to the correct Recipient Account. You will need to book a new Transaction.
Your Mistake. If your funds are sent to the wrong account as the result of a mistake made by you or one of your Authorized Users, and we have Our Mistake. If your funds are sent to the wrong account as the result of a mistake made by us, we will take urgent action at our own expense to recover those funds, provided that you fully cooperate and assist us in recovering any such funds.