financial software contracts terms

Hi, some friends are starting a brokerage firm soon, and their software vendor (the brokerage's main software that will connect to the banks and will handle transactions and reporting of clients accounts), has some clauses in the contract about liability.

basically they are saying that if the program malfunctions and causes a huge financial loss in the clients business (for example crashing when it needs to place a trade for a million dollars transaction), then the vendor will only accept responsibility in terms of the fees they have received in order to develop/license their program to the brokerage (not proportional to the possible losses/damage)

Is this typical practice in mission-critical application vendors in the financial industry or should they seek legal advice from attorneys experienced in software contracts?

Thanks