Common use of Liability Clause in Contracts

Liability. 1. The Bank shall be liable to the Client for the due and timely discharge of its obligations under the Contract. Bank’s obligations shall be discharged on time if discharged within the deadlines required by law, by the Contract, or within deadlines adequate to the nature of the obligations, business practice and market-standard banking practice. The Bank shall be liable to the Client for any damage suffered by the Client due to a breach by the Bank of its 64 Act of the Czech Republic No. 21/1992 Coll. on Banks, as amended, and related laws 65 Act No. 211/2000 Coll. on Free Access to Information, as amended (or any other generally binding law replacing it as far as the purpose and/or content is concerned) obligations under the Contract. If the Bank becomes obliged to compensate the Client for damage, this obligation of the Bank shall be limited to the actual damage and the Bank shall not be obliged to compensate lost profit or loss of goodwill, reputation, business opportunity or anticipated savings. 2. The Bank shall not be liable to the Client for any damage if: a) the damage has been caused by an illegal act of the Client or a third party; b) the damage has been caused by an act of the Client or by insufficient cooperation by the Client; c) the damage has been caused by a breach of obligations of the persons acting in the name or on the account of the Client under the Contract; d) the damage has been caused by the Bank’s acting in compliance with the Client’s instructions and requests or suffered by the Client due to its own business or non-business decisions; e) the damage has been caused by the performance of a payment operation at the request of the client into the high-risk country where given the situation it is not possible to guarantee timely crediting of funds on the part of the recipient’s bank or it is possible to expect the payment be returned, decreased by the fees of the recipient’s bank; f) the damage has been caused by the fact that the Bank acted in compliance with the Contract or that the Client breached the Contract; g) the damage has been caused in a manner other than wilfully or by gross negligence; h) the damage has been caused by activities or inactivity of the relevant public authorities or entities used by the Bank for payment operations; i) the breach of the obligation was caused by exculpating reasons. j) For the purposes of Section 373 of the Commercial Code, in addition to obstacles specified in Section 374 of the Commercial Code, the exculpating reasons shall include in particular force majeure (including natural events), terrorism, wars, civil disturbances, strikes, lock-outs, measures of institutions used by the Bank for payment operations, of Slovak as well as foreign public authorities, courts, and other obstacles that occurred independently of the will of the Bank that the Bank could not have reasonably anticipated at the time of creation of the obligation despite using its due professional care. 3. If an unauthorised payment operation was performed from the Client’s Account, the Bank shall immediately after the notification of this fact by the Client, in any case at or before the end of the following Business Day restore the relevant Account to its condition as if the payment operation did not take place at all. If the Account cannot be restored to its original condition, the Bank shall refund the Client for the amount of the payment operation. The provisions of this clause 3 shall not apply in cases specified in Article XXVII.2 of the GTCs and for Transactions Outside EEA. 4. If a payment operation was executed incorrectly, the Bank shall, immediately after the Client notified the Bank of this fact, restore the relevant Account to its condition as if the payment operation did not take place at all. If the Account cannot be restored to its original condition, the Bank shall refund the Client for the amount of the payment operation. The provisions of this clause 4 shall not apply in cases specified in Article XXVII.2 of the GTCs and for Transactions Outside EEA. 5. The Client undertakes to indemnify the Bank as indemnified person for any damage (including any costs arising in this connection) suffered by the Bank by performing the instruction or request of the Client submitted to the Bank by the Client that the Bank is not obligated to perform. 6. Other details associated with the liability of the Bank for unauthorised or incorrectly performed payment operations are set out in the Notice on the Payment Transactions or in the applicable Product Terms and Conditions.

Liability. 64 Act of the Czech Republic No. 21/1992 Coll. on Banks, as amended, and related laws 65 Act No. 211/2000 Coll. on Free Access to Information, as amended (or any other generally binding law replacing it as far as the purpose and/or content is concerned) 1. The Bank shall be liable to the Client for the due and timely discharge of its obligations under the Contract. Bank’s obligations shall be discharged on time if discharged within the deadlines required by law, by the Contract, or within deadlines adequate to the nature of the obligations, business practice and market-standard banking practice. The Bank shall be liable to the Client for any damage suffered by the Client due to a breach by the Bank of its 64 Act of the Czech Republic No. 21/1992 Coll. on Banks, as amended, and related laws 65 Act No. 211/2000 Coll. on Free Access to Information, as amended (or any other generally binding law replacing it as far as the purpose and/or content is concerned) obligations under the Contract. If the Bank becomes obliged to compensate the Client for damage, this obligation of the Bank shall be limited to the actual damage and the Bank shall not be obliged to compensate lost profit or loss of goodwill, reputation, business opportunity or anticipated savings. 2. The Bank shall not be liable to the Client for any damage if: a) the damage has been caused by an illegal act of the Client or a third party; b) the damage has been caused by an act of the Client or by insufficient cooperation by the Client; c) the damage has been caused by a breach of obligations of the persons acting in the name or on the account of the Client under the Contract; d) the damage has been caused by the Bank’s acting in compliance with the Client’s instructions and requests or suffered by the Client due to its own business or non-business decisions; e) the damage has been caused by the performance of a payment operation at the request of the client into the high-risk country where given the situation it is not possible to guarantee timely crediting of funds on the part of the recipient’s bank or it is possible to expect the payment be returned, decreased by the fees of the recipient’s bank; f) the damage has been caused by the fact that the Bank acted in compliance with the Contract or that the Client breached the Contract; g) the damage has been caused in a manner other than wilfully or by gross negligence; h) the damage has been caused by activities or inactivity of the relevant public authorities or entities used by the Bank for payment operations; i) the breach of the obligation was caused by exculpating reasons. j) For the purposes of Section 373 of the Commercial Code, in addition to obstacles specified in Section 374 of the Commercial Code, the exculpating reasons shall include in particular force majeure (including natural events), terrorism, wars, civil disturbances, strikes, lock-outs, measures of institutions used by the Bank for payment operations, of Slovak as well as foreign public authorities, courts, and other obstacles that occurred independently of the will of the Bank that the Bank could not have reasonably anticipated at the time of creation of the obligation despite using its due professional care. 3. If an unauthorised payment operation was performed from the Client’s Account, the Bank shall immediately after the notification of this fact by the Client, in any case at or before the end of the following Business Day restore the relevant Account to its condition as if the payment operation did not take place at all. If the Account cannot be restored to its original condition, the Bank shall refund the Client for the amount of the payment operation. The provisions of this clause 3 shall not apply in cases specified in Article XXVII.2 of the GTCs and for Transactions Outside EEA. 4. If a payment operation was executed incorrectly, the Bank shall, immediately after the Client notified the Bank of this fact, restore the relevant Account to its condition as if the payment operation did not take place at all. If the Account cannot be restored to its original condition, the Bank shall refund the Client for the amount of the payment operation. The provisions of this clause 4 shall not apply in cases specified in Article XXVII.2 of the GTCs and for Transactions Outside EEA. 5. The Client undertakes to indemnify the Bank as indemnified person for any damage (including any costs arising in this connection) suffered by the Bank by performing the instruction or request of the Client submitted to the Bank by the Client that the Bank is not obligated to perform. 6. Other details associated with the liability of the Bank for unauthorised or incorrectly performed payment operations are set out in the Notice on the Payment Transactions or in the applicable Product Terms and Conditions.