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In Its Role as a Delegated Monitor, an FI

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In its role as a delegated monitor, an FI


Definitions:

Defective Condition

A state of being flawed or imperfect, often referring to a product or system that does not meet expected standards or functions improperly.

Unreasonably Dangerous

A term describing products or activities that pose a significant risk of harm to users or the public beyond what would be considered acceptable or normal.

Strict Liability

A legal doctrine holding an individual or entity liable for damages without the need to prove negligence or fault.

Design Defect

A flaw in the planning or design of a product that results in it being unsafe for its intended use.

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