Mutual Liability Clause Revision

Summary

The revised clause ensures mutual liability between the bank and service provider for system errors. Each party is responsible for claims related to their services. Both parties must work together to resolve customer grievances, and if unresolved, liability is limited and governed by RBI guidelines on grievance mechanisms.

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Please revise make this clause mutual, as if bank's system fault bank shall be liable and vice a vers service provider will be held liable if any error occurs from service provider's system, here's the clause "The Bank shall, in no event, be liable to a Common Customer or third party in connection with, arising out of, or in relation to the Facility . In the event of any claim by a Common Customer or a third party against the Bank in connection with, arising out of or in relation to the Banking Platform Application the Service Provider shall be fully liable for such claim. The Parties shall work together to ensure amicable resolution of such customer grievance. If such customer grievance cannot be resolved, each Party shall be liable to the Common Customer or the third party to the extent the grievance relates to a service provided or to be provided by such Party. The liability of both parties shall be limited to and governed by the RBI Guidelines on customer grievance mechansim and resolution"
Here's a revised version of the clause to make it mutual:
"The Bank and the Service Provider shall each be liable to a Common Customer or third party for errors arising from their respective systems. In the event of any claim, the liable Party shall be responsible for such claim. The Parties shall work together to ensure amicable resolution of customer grievances. If such customer grievances cannot be resolved, each Party shall be liable to the Common Customer or the third party to the extent the grievance relates to a service provided by them. The liability of both parties shall be limited to and governed by the RBI Guidelines on customer grievance mechanism and resolution."
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