LIABILITY CLAUSES Clause Samples
Liability clauses define the extent to which each party is responsible for losses, damages, or claims arising from the contract. These clauses typically set limits on the amount or types of damages that can be recovered, may exclude certain types of liability (such as indirect or consequential damages), and sometimes specify procedures for making claims. By clearly outlining each party’s obligations and potential exposures, liability clauses help allocate risk between the parties and prevent disputes over responsibility if problems occur during the contract’s performance.
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LIABILITY CLAUSES. The Receiving Party undertakes to protect the security of the information received as part of this agreement in line with good business practices. Publication or disclosure of Confidential Information to a third party or unauthorized employees of the Receiving Party shall be deemed to mean any transfer of information, their distribution or publication, as well as any other form of transfer of the information which constitutes the subject of this Agreement. The Receiving Party who has been entrusted with Confidential Information and has violated the principle of confidential information protection (i.e. disclosed it to a third natural person or legal entity, or made it possible for such person or entity to otherwise gain such information) shall be liable for any material or non-material damages caused. The parties are in agreement that the violating party shall indemnify the other party for any damages resulting from the aforementioned causes. A claim shall be deemed justified if supported by sufficient evidence proving that Receiving Party had violated the terms of this Agreement. The agreed compensation in the event of breach of the principle of protection of confidential information shall be set as a lump-sum payment of 30,000 EUR. In the event that the actual damages incurred are higher than the aforementioned lump sum compensation, the violating party shall be required to pay the Disclosing Party a higher compensation up to the actual damages suffered (in addition to the agreed lump-sum compensation). For disclosure of data or information with regard to which the damage cannot be expressed materially (non-material damages), the lump sum compensation of 30,000 EUR is set. In such case Disclosing Party shall issue a calculation of damages incurred, and Receiving Party undertakes to pay such damages within 15 days of the calculation.
LIABILITY CLAUSES. If cargo is shipped without proper customs release and GEPB is held liable by the customs Authority, then GEPB can charge the Manager in the amount of indemnity to which penalties, damages and interest in the amount of settlement made by GEPB shall be added.
LIABILITY CLAUSES. Supplier and Purchaser acknowledge that the Product and any information provided or received may be subject to export control laws and regulations and each of the parties agree that they will strictly comply with all applicable requirements under such laws and regulations. As such, each party warrants and undertakes that it will not export or transfer by any means, electronic or otherwise, any information or deliverables without complying in all respects with the applicable export control legislation, codes of conduct, relevant export licence(s), guidelines, notices and instructions in relation to any export or transfer of information or deliverables.
LIABILITY CLAUSES. 18 5.1 Confidentiality.........................................................................................18 5.2 Infringement............................................................................................19 5.3 Indemnity..............................................................................................20 5.4