Common use of Zero Liability Clause in Contracts

Zero Liability. Zero Liability does not apply to MasterCard-branded cards issued to an entity other than a natural person; primarily for business, commercial, or agricultural purposes; outside of the U.S. region. Zero liability applies to purchases made in the store, over the telephone or made online. As a MasterCard cardholder you will not be responsible in the event of unauthorized purchases provided that the following preconditions are met: 1. Exercise reasonable care in safeguarding the card from risk of loss or theft; and 2. Upon becoming aware of such loss or theft, promptly report the loss or theft to the issuer. This limit on liability also applies to ATM transactions and PIN initiated transfers using your Personal Identification Number.