Responsibility of the Parties. 9.1. In the event of non-performance or improper performance of their obligations under this contract, the Parties shall be liable in accordance with the legislation of the Russian Federation.
Responsibility of the Parties. 7.1. The Parties undertake the responsibility for the non-performance or unduly performance of the obligations under the Agreement in accordance with the current law of the Russian Federation.
Responsibility of the Parties. Each party agrees it shall not be responsible for any claims, losses, damages, liabilities, costs, expenses or obligations arising out of or resulting from the negligent or willful misconduct of the other party, its officers, employees or agents in the performance of services pursuant to this Agreement.
Responsibility of the Parties. Each party to this Agreement assumes responsibility for claims and/or damages to persons and/or property resulting from any act or omission on the part of itself, its employees, or its agents. Neither party assumes any responsibility to the other party for any third party claims.
Responsibility of the Parties. 8.1. The responsibilities of the Parties to the Agreement is determined by the terms of the Agreement and its appendices.
Responsibility of the Parties. 11.1. The Parties shall be responsible for failed or inappropriately fulfilled contractual obligations under this Agreement and the applicable laws;
Responsibility of the Parties. The Parties undertake to indemnify each other for any damage (loss) caused by their partial or complete non-performance or improper performance of the Agreement, and the indemnification of damage (loss) does not relieve the Parties from the performance/payment of their obligations under the Agreement. In addition, the Customer shall be liable for any damage (loss) caused to the Bank by its partial or complete non-performance or improper performance of the Agreement. Inter alia, in the event of a breach of the term specified in the subsection 3.3.6. of Annex N1 to the Bank Guarantee Agreement, Bank is entitled to charge the Customer with additional amount of the respective Interest (as the damage (loss) inflicted) for the period of breach of the term or the Bank shall be entitled to repay the above obligations not later than 14 (fourteen) calendar days after the written application. Indemnification of the damage (loss) does not release the Customer from the performance/payment of the obligations under the Agreement. Notwithstanding the guarantees specified in Sections 5.1 and 5.2. of Annex N1 to the Bank Guarantee Agreement, in order to ensure full and proper performance of the Customer’s obligations under the Agreement, and, respectively, to secure the Bank’s rights and claims, the Customer hereby expressly gives its prior consent that the Bank is fully authorized to: In the case of several debt arrears, determine the sequence and order of payments of Bank Guarantee and the payments under it; Block any Account of the Customer without acceptance in the amount of the payment due and in accordance with its applicable rules until any payment is under the Agreement is fully and duly covered; Write off without acceptance all payments due from the any Account of the Customer, and if the payment due and the amount available on the Account are in different currencies, the Bank itself can perform conversion at the commercial rate of exchange applicable at the Bank on the date of payment or the rate of exchange agreed with the Customer (if any), and write off also the conversion cost without acceptance from the Account, and channel the converted amount to cover the appropriate payments. During the period of Force Majeure, the Bank shall not be liable for complete or partial nonfulfillment or improper fulfillment of its obligations under the Agreement. In the event of Force Majeure, the Parties shall be guided by ICC Uniform Rules. Communication between the Parties An...
Responsibility of the Parties. The Parties undertake to indemnify each other against any loss (damage) incurred as a result of partial or full non-fulfillment or improper fulfillment of the Agreement, while compensation of loss (damage) does not exempt the Parties from fulfilment/payment of obligations assumed under the Agreement. In case of several overdue debts under the Agreement on the Secured Claims, the Bank is authorized to, with the purpose of meeting the Bank’s claims with the money received as a result of the foreclosure, determine the sequence and order of priority of existing payables. Communication between the Parties Any official relations between the Parties shall be in writing. A written notice for a Party can be delivered personally or sent by courier (including international courier) or mail (including insured mail). For the purpose to save time and taking into account the provisions outlined below, except submitting to the Owner of a claim on fulfillment ahead of term of financial liabilities arising out of the Agreement or/and the Agreement on the Secured Claims or notice on full or partial termination of the Agreement, a notice to the other Party may be delivered through email or other electronic means (including mobile banking, Internet banking), provided that in case of request of the other Party, the written notice will be delivered in the reasonable time as well. A notice shall be deemed delivered on the delivery date if a recipient confirms such delivery (including through electronic document, receipt, other relevant means of communication, etc.). If the receipt of a notice is not confirmed by the recipient, any such notice shall be deemed duly sent and received: In case of sending a written notice by courier or insured post – on the date of confirmation of delivery; In case of sending a notice through email and/or other electronic means – on the Banking day following the date of sending. A notice shall be deemed received in case the sending Party receives back a notice due to absence of the receiving Party at the given address/contact data, the recipient refuses to accept the notice or avoids receiving a notice. The Parties shall establish relations at the addresses/contact data outlined in the Agreement (or at any other address/contact data which one Party will inform the other in writing). A Party shall notify the other Party in a timely manner on change of the above address or any of the data, otherwise communications carried out at the address provided by ...
Responsibility of the Parties. 9.1. Possibility of profit gaining from the Transactions at OTC Forex market is inextricably linked with a risk of loss, so the Forex Company is not responsible for: losses incurred by the Client due to the use/alteration of leverage and (or) caused by alteration of prices for underlying assets unfavorable to the Client; for forcible closing of the Client’s position caused by reaching of the minimum value (Stop-out Level) of Margin Security Level; the Client’s losses caused by insufficient level of margin security in respect of his/her open positions; absence of liquidity at OTC Forex market at any time, i. e. possibility to accept for execution and execute the Client’s orders for the underlying asset price fixing; unavailability of the underlying asset prices at any time; the Client’s losses caused by decreasing or absence of liquidity, for which reason the Client was unable to close the position and had to accept the price considerably different from the position closing price desired by the Client; loss incurred by the Client due to execution of order with a certain price slippage; the Client’s losses caused by wild swing of the market, as well as for predictions made by the Client without regard to market volatility; moral harm and (or) any losses, including, in particular, any loss of profit which may directly or indirectly result from the use of previous strategies, tactics, methods or from relying on the information about the results of Transactions in the past and prediction of the same results by the Client in the future; the Client’s losses resulting from hacker attacks, accident (failure) with computer networks, power lines or electric communication system used immediately for agreement of material conditions of Transactions or for support of the Forex Company’s procedures which occurred not through the fault of the Forex Company; communication equipment failure, disconnection of the Client from the Forex Terminal, hindrances or delays during execution of Transaction by the Client via the Internet global computer network; outcomes of Transactions executed by the Client’s decision based on the analytical materials provided by the Forex Company and/or third persons; loss incurred by the Client as a consequence of incorrect interpretation of information posted on the Forex Company’s website in the Internet global computer network; loss caused to the Client by the use of the Client’s login and password by third persons to whom such accounting inform...
Responsibility of the Parties. 5.1. The Parties undertake to indemnify each other for any damage (loss) caused by their partial or complete non- performance or improper performance of the Agreement, and the indemnification of damage (loss) does not relieve the Parties from the performance/payment of their obligations under the Agreement.
