Chip Failure definition
Chip Failure means a failure of the embedded chip in a C&P Card to function correctly with the result that a properly entered PIN will not effect an Authorisation of the Sales Transaction. Claims or Loss: includes all and any claims, actions, proceedings, loss, damages, liability, penalties and fines (whether or not imposed by a Card Scheme or Competent Authority), surcharges, costs (including investigation, administration and legal costs) and expenses made against, paid or incurred by any Protected Party.