Do you understand what you are signing?

 

Contract Review Service

Coverforce offers a free contract review service to existing customers, as a value-add to our construction clients who are entering into contracts with principals, which will often contain various, and sometimes onerous conditions and requirements. The review will involve reading and passing comment on the: -

 

Contractual Liability

Were you aware that most Public & Products Liability (and most professional liability) policies exclude Contractual Liability coverage, unless specifically agreed by your Insurers on a per contract basis. Most contracts will include specific contractual requirements within their Indemnity Clauses such as: -

 

By agreeing and signing to these conditions, you are signing away your insurer's rights of recourse and legal positioning in the event of a claim. If you have not had your insurer agree to these contractual requirements, your insurer will likely decline your claim as these are contractual liabilities which have prejudice the insurer's position in protecting you. Most Contracts will call on you to provide coverage for: -

 

We are able to pass comment on both whether you have the coverage in place, and whether your level of coverage is adequate. For example you may have a $10,000,000 Public Liability limit where the contract calls for a $20,000,000 limit. In the event you sign a contract with a particular insurance requirement and you do not hold that particular coverage – this will put you in breach of contract and potentially open to litigation

 

IMPORTANT: Coverforce employs a qualified legal practitioner to provide desktop advice and recommendations; however the review service will contain information that is general in nature and is not, and is not intended to be, construed as legal advice