Risks Assumed by Contractor Clause Samples
The "Risks Assumed by Contractor" clause defines the specific risks and liabilities that the contractor is responsible for during the performance of a contract. Typically, this clause outlines areas such as property damage, personal injury, or unforeseen site conditions that the contractor must manage and insure against. For example, if equipment is damaged on site or if there are delays due to weather, the contractor would bear the associated costs and consequences. The core function of this clause is to allocate risk clearly between the parties, ensuring that the contractor is aware of and prepared for the potential challenges inherent in the project, thereby reducing disputes and uncertainty.
Risks Assumed by Contractor. (1) To the fullest extent permitted by law, the Contractor solely assumes the following distinct several risks whether they arise from acts or omissions (whether negligent or not and whether supervisory or otherwise) of the Contractor, of the Fund, of third persons or from any other cause, including unforeseen obstacles and difficulties which may be encountered in the prosecution of the work covered by the Contract, whether such risks are within or beyond the control of the Contractor and whether such risks involve a legal duty, primary or otherwise, imposed upon the Fund, the Dormitory Authority of the State of New York, the State of New York or the State University of New York, excepting only risks which arise from defects in maps, plans, designs or Specifications prepared, acquired or used by the Consultant or the Fund, from the negligence of the Fund, its agents or employees or from affirmative acts of the Fund, the Dormitory Authority of the State of New York, the State of New York or the State University of New York or their trustees, officers, agents or employees committed with intent to cause the loss, damage and injuries herein below set forth:
a. The risk of loss or damage, direct or indirect, to the work covered by the Contract or to any plant, equipment, tools, materials or property furnished, used, installed or received by the Fund or by the Contractor or any subcontractor, material man or worker performing services or furnishing materials for the work covered hereunder. The Contractor shall bear such risk of loss or damage until the work covered by the Contract has been finally accepted by the Fund or until completion of removal of such plant, equipment, tools, materials or property from the construction site and the vicinity thereof, whichever event occurs last. In the event of such loss or damage, the Contractor shall forthwith repair, replace and/or make good any such loss or damage without cost to the Fund.
b. The risk of claims, just or unjust, by third persons against the Contractor, the Fund, the Dormitory Authority of the State of New York, the State of New York, or the State University of New York on account of wrongful death, bodily injuries and property damage, direct or consequential, loss or damage of any kind whatsoever arising or alleged to arise out of or as a result of or in connection with the performance by the Contractor of the work covered by the Contract (whether actually caused by or resulting from the performance of th...
Risks Assumed by Contractor. Execution of this Agreement and each Task Order by the Contractor is a representation that the Contractor has thoroughly examined the terms of this Agreement and the Scope of Work and has visited the Project site and has become familiar with local conditions under which the Work is to be performed. The Contractor further represents that it has satisfied itself that it can undertake the work for the stated cost. Among other things, by entering into this Agreement, the Contractor assumes the following risks: (1) the nature of the land and subsoil; (2) the form and nature of the site and surrounding areas; (3) details and levels of existing pipe lines, conduits, sewers, drains, cables or other existing services; (4) the quantities, nature and availability of the materials, tools, equipment and labor necessary for the completion of the Work; (5) the means of access to the site and any accommodation that may be required; (6) uncertainties of weather and physical conditions at the site; and in general to have itself obtained all necessary information as to risk contingencies, climatic, hydrological and natural conditions and other circumstances which may influence or affect his performance of the Work.
Risks Assumed by Contractor. By submitting a bid for any project, the Contractor shall be deemed to have thoroughly examined the terms of the RFTOP, any Drawings (where applicable) and Specifications that may be included with the RFTOP, and shall constitute its acknowledgement that it has been provided with an opportunity to visit the Project site and that such Contractor has had the opportunity to become familiar with local conditions under which the work is to be performed. Further, in submitting any such bid, the Contractor shall be deemed to represent that it has satisfied itself that it can undertake the work for the stated cost. Among other things, by submitting a bid, the Contractor assumes the following risks: (1) the nature of the land and subsoil unless such conditions constitute a Differing Site Condition under Article 4.A of the Standard Contract Provisions for Construction Contracts; (2) the form and nature of the site and surrounding areas; (3) details and levels of existing pipe lines, conduits, sewers, drains, cables or other existing services; (4) the quantities, nature and availability of the materials, tools, equipment and labor necessary for the completion of the work; (5) the means of access to the site and any accommodation that may be required; (6) uncertainties of weather and physical conditions at the site; and in general to have itself obtained all necessary information as to risk contingencies, climatic, hydrological and natural conditions and other circumstances which
Risks Assumed by Contractor. (a) Contractor solely assumes the following distinct and several risks whether such risks arise from acts or omissions (whether negligent or not, and whether supervisory or otherwise) of the Owner, of Architect, of Contractor, of any subcontractor, of third persons or from any other cause, including unforeseen obstacles and difficulties which may be encountered in the prosecution of the Work, whether such risks are within or beyond the control of Contractor and whether such risks involve any legal duty, primary or otherwise, imposed upon the Owner:
1. The risk of loss or damage, direct or indirect, or whatever nature, to the Work or to any materials furnished, used, installed or received by the Owner, Contractor or any subcontractor, materialmen or workmen performing services or furnishing materials for the Work, whether or not such work or materials are stored at the site. Contractor shall bear such risk of loss or damage until final acceptance of the Work by the Owner or until completion or removal of such materials from the site and the vicinity thereof, whichever event occurs last. A portion of the risk of such loss or damage may be insured against under the terms of a "builder's risk" insurance policy maintained by the Owner. Notwithstanding the status of any actual or potential recovery or claim under the said "builder's risk" insurance policy, in the event of any loss or damage, Contractor immediately shall repair, replace or make good any such loss or damage.
2. The risk of claims, just or unjust, by third persons against Contractor, the Owner, the Owner's Representative, and Architect on account of wrongful death, bodily injuries and property damage, economic loss, direct or consequential, and loss or damage of any kind whatsoever arising or alleged to arise out of or as a result of or in connection with the performance by Contractor of the Work or out of or in connection with Contractor's operations or presence at or in the vicinity of the site. Contractor shall bear such risk for all such deaths, injuries, damages or losses sustained or alleged to have been sustained, including indemnity loss, also.
A) Contractor assumes the entire responsibility and liability for any and all damage or injury of any kind or nature whatsoever (including death resulting therefrom) to all persons, whether employees of Contractor or otherwise, and to all property caused by, resulting from, arising out of or occurring in connection with the execution of the Work. Con...
Risks Assumed by Contractor. Contractor assumes the following distinct and several risks, whether they arise from acts or omissions of Contractor, of LMDC, or of third persons, or from any other cause, and whether such risks are within or beyond the control of Contractor and/or are known or unknown, and foreseeable or unforeseeable:
A. The risk of loss or damage to the Building or the Work prior to the rendition of the Certificate of Final Completion (other than Work which must be removed in any event as part of the Demolition of the Building), provided Contractor shall forthwith secure and make safe such damaged Work for future intended removal;
B. The risk of loss or damage to the Building or any structures to be demolished occurring prior to completion of demolition by Contractor if and to the extent that any such structures would not be removed as part of the Demolition (such structures being still included, however, in the term "Work"). In the event of such loss, damage or alterations, Contractor shall nevertheless complete the performance of the Work, including the demolition, without additional cost to LMDC and without compensation for lost salvage value;
C. The risk of claims, loss, liability, damage, expense, fines or penalties, just or unjust, made or asserted by third persons or assessed by courts or Governmental Authorities or entities against Contractor, LMDC or any other Indemnitee on account of injuries (including wrongful death), loss, damage or liability of any kind whatsoever arising or alleged to arise out of or in connection with the performance of the Work (whether or not actually caused by or resulting from the performance of the Work) or out of or in connection with Contractor's operations or presence at or in the vicinity of the construction site and/or the Building, (including claims against Contractor or LMDC for the payment of workers' compensation), whether such claims, loss, liability, damage, expense, fines or penalties are made or assessed and whether such injuries, damage, loss, liability, damage and/or expense are sustained at any time both before and/or after the rendition of the Certificate of Final Completion;
D. The risk of loss or damage to any property of Contractor (or to the scaffolding and hoist(s) that are Contractor's responsibility), and of claims made or asserted against Contractor, LMDC or any other Indemnitee for loss or damage to any property of Scaffolding Contractor, subcontractors, Materialmen, workmen and others performing the Work,...
Risks Assumed by Contractor. (1) The Contractor solely assumes the following distinct several risks whether they arise from acts or omissions (whether negligent or not and whether supervisory or otherwise) of the Contractor, of the Fund, of third persons or from any other cause, including unforeseen obstacles and difficulties which may be encountered in the prosecution of the work covered by the Contract, whether such risks are within or beyond the control of the Contractor and whether such risks involve a legal duty, primary or otherwise, imposed upon the Fund, the Dormitory Authority of the State of New York, the State of New York or the State University of New York, excepting only risks which arise from defects in maps, plans, designs or Specifications prepared, acquired or used by the Consultant or the Fund, from the negligence of the Fund, its agents or employees or from affirmative acts of the Fund, the Dormitory Authority of the State of New York, the State of New York or the State University of New York or their trustees, officers, agents or employees committed with intent to cause the loss, damage and injuries herein below set forth:
a. The risk of loss or damage, direct or indirect, to the work covered by the Contract or to any plant, equipment, tools, materials or property furnished, used, installed or received by the Fund or by the Contractor or any subcontractor, material man or worker performing services or furnishing materials for the work covered hereunder. The Contractor shall bear such risk of loss or damage until the work covered by the Contract has been finally accepted by the Fund or until completion of removal of such plant, equipment, tools, materials or property from the construction site and the vicinity thereof, whichever event occurs last. In the event of such loss or damage, the Contractor shall forthwith repair, replace and/or make good any such loss or damage without cost to the Fund.
b. The risk of claims, just or unjust, by third persons against the Contractor, the Fund, the Dormitory Authority of the State of New York, the State of New York, or the State University of New York on account of wrongful death, bodily injuries and property damage, direct or consequential, loss or damage of any kind whatsoever arising or alleged to arise out of or as a result of or in connection with the performance by the Contractor of the work covered by the Contract (whether actually caused by or resulting from the performance of the Contract) or out of or in connection w...