What if a change order potentially induces bigger losses and damages? Since there usually isn't a separate contract for a change order, should the main contract state that any change order shall have a limited liability of 100% of the change order itself instead of the full contract?
Thanks for explanation. Quick question. If my construction contract has certain number (xxx MUSD) of total liability, it seems my company needs to be responsible for (=pay) the amount of money if there is loss and damage, What if my construction contract has the total liability cap, but it will be all contractor's responsiblity before hand over to company ? Can we apply the cap before hand over to company?
What is the point of having insurance if contractors or architects can limit their liability to the fees in the contract?
Most of the limitations have carve outs for specific things that insurances cover.
What if a change order potentially induces bigger losses and damages?
Since there usually isn't a separate contract for a change order, should the main contract state that any change order shall have a limited liability of 100% of the change order itself instead of the full contract?
A change order will increase the contract value once its approved. The Limit of Liability will be linked to this increase in contract value.
Thanks for explanation.
Quick question.
If my construction contract has certain number (xxx MUSD) of total liability, it seems my company needs to be responsible for (=pay) the amount of money if there is loss and damage,
What if my construction contract has the total liability cap, but it will be all contractor's responsiblity before hand over to company ?
Can we apply the cap before hand over to company?
Not something I can really respond to in youtube comments I am afraid. Will def need a little more information