When Negotiate limits of liability, indemnification, What is reasonable?
Автор: Third Party Risk Institute Ltd.
Загружено: 2022-12-15
Просмотров: 2177
Every business tries to protect their financial health, mitigate risk and insulate themselves from liability and damages. But you might be overlooking one of the most useful and important contractual provisions every time you enter a new contract: the limitation of liability clause.
A carefully negotiated limitation of liability clause is the primary tool to create a safety net in a contract so that you know what you are liable for if things go wrong. If your business engages in any kind of contract – and let’s be honest, all businesses do – you should have a working understanding of the effect and importance of limitations of liability clauses and strategies.
Next time you are reviewing, or crafting an agreement, don’t gloss over the limitation of liability language. Instead, be sure to understand these four fundamentals, and consult a contracts expert to ensure your business interests are adequately protected.
To learn more about the how you can De-risk your contract visit our e-workshop on how to de-risk your contract.
https://www.3prinstitute.com/courses/...
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