Template:M summ EUA Annex (d)(ix)

So firstly this sets out to exclude consequential losses then opens the door to all the places it is most conceivable someone might contrive to claim them: as a close out, during a Failure to Deliver pre-close-out mechanism, and as a result of a misrepresentation about title to the Allowances you have delivered.

All of these are good places not to exclude consequential loss, so we tend to agree they should be excluded, but it feels to us like the consequential loss provision should therefore just be omitted.

Let us rehearse: ordinarily, consequential losses and loses of profit are too speculative and too indeterminate to pass the remoteness test, and so would not be available as a remedy for breach of contract anyway.

But where they are determinate — for example, when one misses out on deposit interest one could expect to earn on a failed or delayed payment — these will, and more to the point should, be recoverable.

Meaning this clause does not really do anything.

Oh, and “loss” and “damages” are different things, for Pete’s sake. They are not synonyms.