Errors and Deficits

Errors and Deficits. Shall mean the full amount of loss incurred by Company in, or related to, any customer account arising from: a. Any error by the broker or merchandiser in taking or executing any customer order in any customer account handled by him or her; b. Any deficit in any customer account assigned to the broker or merchandiser due to nonpayment by the customer of any margin call or account deficit; and c. Any claim, action, proceeding against Company, the broker or merchandiser or... both, which involves breach by the broker or merchandiser of Paragraph 2 of this Policy. View More