Liability and financial responsibility Clause Samples

The "Liability and financial responsibility" clause defines which parties are legally and financially accountable for losses, damages, or claims arising from the agreement. It typically outlines the extent to which each party must compensate for harm caused, may set limits on the amount recoverable, and can specify exclusions for certain types of damages. This clause is essential for allocating risk between the parties and providing clarity on who bears the financial burden in the event of a dispute or loss.
Liability and financial responsibility. 1 while acting for the Administration under the authority of this Agreement the RO shall be free to create contracts directly with its clients and such contracts may contain the RO's normal contractual conditions for limiting its legal liability. However, neither this Agreement, its Appendices, nor such contractual provisions shall be interpreted as an indemnification of the RO by the Administration; .2 in the context of this Agreement, a professional indemnity or professional liability insurance is to be effected by the RO; and .3 if the Administration is sued for activities connected with this Agreement, the Administration shall immediately provide notice to the RO, and shall not impede the RO’s exercise of legal rights afforded it under U.S. law.
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Liability and financial responsibility. 1 in the context of this Agreement, if a liability is finally and definitively imposed by a court of law on the State of the Administration for loss or damage which is proved in a court of law to have been caused by any wilful act, omission or gross negligence of the RO, its officers, employees or others who were acting on behalf of the RO pursuant to this Agreement, the Administration is entitled to seek from the RO compensation up to but not exceeding the amount of financial liability, as agreed bilaterally between the RO and the Administration; .2 while acting for the Administration under this Agreement, the RO shall be free to create contracts direct with its clients and such contracts may contain the RO's normal contractual conditions for limiting its legal liability; and .3 in the context of this Agreement, a professional indemnity or professional liability insurance is to be effected by the RO.
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Related to Liability and financial responsibility

  • Financial Responsibility You understand that you remain, solely and exclusively responsible for any and all financial risks, including, without limitation, insufficient funds associated with accessing the Service. The Credit Union shall not be liable in any manner for such risk unless Credit Union fails to follow the procedures described in materials for use of the service. You assume exclusive responsibility for the consequences of any instructions you give to the Credit Union, for your failures to access the Service properly in a manner prescribed by the Credit Union, and for your failure to supply accurate input information, including, without limitation, any information contained in an application.

  • MUTUAL RESPONSIBILITY 6.2.1 The Contractor shall afford the State and separate contractors reasonable opportunity for the introduction and storage of their materials and equipment and the execution of their work, and shall connect and coordinate his / her Work with the work of the State and separate contractors as required by the Contract Documents. 6.2.2 If any part of the Contractor's Work depends for proper execution or results upon the work of the State or any separate contractor, the Contractor shall, prior to proceeding with the Work, promptly report to the Architect any apparent discrepancies or defects in such other work that render it unsuitable for such proper execution and results. Failure of the Contractor so to report shall constitute an acceptance of the State's or separate contractors work as fit and proper to receive 6.2.3 Any costs caused by defective or ill-timed work shall be borne by the party responsible therefor. 6.2.4 Should the Contractor wrongfully cause damage to the work or property of the State, or to other work on the site, the Contractor shall promptly remedy such damage as provided in Subparagraph 10.2.5 of these General Conditions.

  • Financial Responsibilities The acceptance of a Project Agreement creates a legal duty on the part of the Grantee’s organization to use the funds made available in accordance with the terms and conditions of the Grant. Note: Authority cited: Sections 5001.5 and 5003, Public Resources Code. Reference: Sections 5090.32 and 5090.50, Public Resources Code.

  • General Responsibility The Consultant shall, at all times during the Agreement, remain responsible. The Consultant agrees, if requested by the Commissioner of NYSDOT or his or her designee, to present evidence of its continuing legal authority to do business in New York State, integrity, experience, ability, prior performance, and organizational and financial capacity.

  • POSITIONS OF SPECIAL RESPONSIBILITY B.24.1 Job Descriptions The Board, in consultation with the Local, will prepare and maintain job descriptions for all positions of special responsibility. These positions shall include, but not be limited to, Head Teachers, Department Heads, Teachers-in-Charge, Supervisors, Area Counsellors and Coordinators. These descriptions shall be the recognized job descriptions for such positions.