StewartConsequential Coverage User InfoNew Limits Form

Instructions and help about StewartConsequential Coverage User InfoNew Limits

damages due to a breach of contract can be significant however the costliest damages and the hardest to predict are usually consequential damages these could include but are not limited to lost profits business Interruption expenses and loss of Goodwill some versions of standard contracts include a mutual waiver of consequential damages here is a sample waiver of consequential damage provision neither contractor nor owner shall be liable to the other for any consequential losses or damages whether a rising in contract warranty tort negligence strict liability or otherwise including but not limited to loss of use profits business reputation or financing it is possible for a Construction contract to have a one-way waiver be aware of this so that you do not give up claims for consequential damages but remain liable for them also if the contract is silent on waiving consequential damages then the parties are likely liable for all consequential damages this means having a waiver is importan