Professional Indemnity. The insurance provided shall indemnify the Supplier (and/or his professional consultant) for those sums which the Supplier or his consultant shall become legally liable to pay as damages arising from any claim first made against the Supplier / consultant and reported to their insurers during the Period of Insurance, directly arising out of any negligent act, error or omission committed or alleged to have been committed by the Supplier / consultant in the conduct of professional services (for example, design) in connection with this contract.
Professional Indemnity insurance without unusual or onerous conditions or excesses to cover each and every liability which the Contractor may incur relating to the performance of the Contract including joint and several liability of its members and in particular for any act, error, or omission due to negligence in the performance of the obligations and commitments to be undertaken in accordance with the Contract, design of the works and faulty execution, with a limit of indemnity of not less than EUR [x] for any one occurrence and in the yearly aggregate, notwithstanding any termination of the present Contract (i.e. with a validity period of at least 2 (two) years following any termination of the Contract.] The insurance policies listed above shall allow direct payment of the compensation for the insured damage suffered. Upon request, the Contractor shall provide evidence of effective insurance coverage to Fusion for Energy.. [Contract Implementation in the ITER site in Cadarache [N/A] or [Specific requirements apply in case of Contract implementation in the ITER Site in Cadarache, including where the Contract contains assembly and Installation activities on the site. Please add the relevant provision.] Liquidated Damages Where [completion date is not met/any of the milestones dates for milestones [] defined in Section [] of Annex B (Technical Specifications), as extended if at all, are not met] and the delay is not attributable to an act or omission of Fusion for Energy, Fusion for Energy may impose liquidated damages amounting to []% ([] percent) of the [Total Contract Price at the date of the Formal Notification/Stage Price] per [day/week/month] of delay, up to a maximum of [10% (ten percent)] of the Total Contract Price. Fusion for Energy may, at its sole discretion, apply a lower amount.
Professional Indemnity. The insurance provided shall indemnify the Tenderer (and/or his professional consultant) for those sums which the Tenderer or his consultant shall become legally liable to pay as damages arising from any claim first made against the Tenderer / consultant and reported to their insurers during the Period of Insurance, directly arising out of any negligent act, error or omission committed or alleged to have been committed by the Tenderer / consultant in the conduct of professional services (for example, design) in connection with this contract.
Examples of Professional Indemnity in a sentence
Professional Indemnity Details: ..............................................................................................................................................................................................................
Professional Indemnity Details: .............................................................................................................................................................................................................................
Conditions for Determining Contract Effectivity ☐ UNDP’s receipt of Performance Bond☐ UNDP’s receipt of Professional Indemnity Insurance☐Others [click here to specify].
Specimen BQ items provided in DEVB TCWs for various subjects such as site cleanliness and tidiness, preservation and protection of preserved trees, Professional Indemnity Insurance for the Works, etc.
Lawyers’ Professional Indemnity Company 250 Yonge Street, Suite 3101, P.
More Definitions of Professional Indemnity
Professional Indemnity insurance without unusual or onerous conditions or excesses to cover each and every liability which the Contractor may incur relating to the performance of the Contract including joint and several liability of its members and in particular for any act, error, or omission due to negligence in the performance of the obligations and commitments to be undertaken in accordance with the Contract, design of the works and faulty execution, with a limit of indemnity of not less than EUR [amount in figures and words] for any one occurrence and in the yearly aggregate, notwithstanding any termination of the present Contract (i.e. with a validity period of at least 2 (two) years following any termination of the Contract).] The insurance policies listed above shall allow direct payment of the compensation for the insured damage sustained. Upon request, the Contractor shall provide evidence of effective insurance coverage to Fusion for Energy. [Contract implementation in the ITER site in Cadarache] [N/A] or [Specific requirements apply in case of Contract implementation in the ITER Site in Cadarache, including where the Contract contains assembly and Installation activities on the site. Please add the relevant provision.] Liquidated Damages Where [completion date is not met/any of the milestones dates for deliverable [.]/milestones [] defined in section [] of Annex B (Technical Specifications), as extended if at all, are not met] and the delay is not attributable to an act or omission of Fusion for Energy, Fusion for Energy may impose liquidated damages amounting to [.]% ([.] percent) of the Total Contract Price (at the date of the Formal Notification/Stage Price)/ total price for the relevant Stage] per [day/week/month] of delay, up to a maximum of [10% (ten percent)] of the Total Contract Price. Fusion for Energy may at its sole discretion apply a lower amount.
Professional Indemnity. Not less than $2 million. Limited Liability Limited Liability Amount: Special Conditions [Insert Special Conditions]: Execution by the Client Alternative 1 (by an individual):
Professional Indemnity. Template has cover for $1 million to be increased to $3 million at end of September 1997.
Professional Indemnity means the protecting of a Health Professional against any allegations of loss arising from the conduct of his/her occupation. This can include financial loss due to inadequate or incorrect advice or consultancy work
Professional Indemnity. – In this context means the arrangements you have in place to cover your civil liabilities from claims arising from medical malpractice and professional risk.
Professional Indemnity means such professional indemnity insurance as is made available from time to time to professional employees or certain categories of professional employees by the Union.
Professional Indemnity at least $10 million;