Vermont § 103 - § 4—103.

§ 103. § 4—103.

• Variation by agreement; measure of damages; action constituting ordinary care (a) The effect of the provisions of this article may be varied by agreement, but the parties
  to the agreement cannot disclaim a bank’s responsibility for its lack of good faith
  or failure to exercise ordinary care or limit the measure of damages for the lack
  or failure. However, the parties may determine by agreement the standards by which
  the bank’s responsibility is to be measured if those standards are not manifestly
  unreasonable. (b) Federal Reserve regulations and operating circulars, clearing-house rules, and the
  like, have the effect of agreements under subsection (a) of this section, whether
  or not specifically assented to by all parties interested in items handled. (c) Action or non-action approved by this article or pursuant to Federal Reserve regulations
  or operating circulars is the exercise of ordinary care and, in the absence of special
  instructions, action or non-action consistent with clearing-house rules and the like
  or with a general banking usage not disapproved by this article, is prima facie the
  exercise of ordinary care. (d) The specification or approval of certain procedures by this article is not disapproval
  of other procedures that may be reasonable under the circumstances. (e) The measure of damages for failure to exercise ordinary care in handling an item is
  the amount of the item reduced by an amount that could not have been realized by the
  exercise of ordinary care. If there is also bad faith it includes any other damages
  the party suffered as a proximate consequence. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)