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Anonymous Posted 19 years ago
Business & Finance
From contract,see any of you can make it clear!
Supplier’s liability for damages caused to the Work by defects or remedial work
carried out by Supplier shall be limited to the extent of Supplier’s negligence and
only then to the lesser of: a) Customer’s property all risk insurance deductible, or
b) € 250,000 per occurrence with an aggregate limit of two (2) occurrences per
year.
That is a original paragraph from a contract.
Here’s my understanding of part of it.
For damages to the Work from two aspects:
1) defects by supplier 2) remedial work was done by supplier
For above damages ,supplier is only obligated of the extent due to its carelessness.
Supplier is only obligated of the less serious incidents: a) HAVE NO IDEAR AT ALL
b) this kind of thing(carelessness) happen
I will appreciate your reply and explanation.
carried out by Supplier shall be limited to the extent of Supplier’s negligence and
only then to the lesser of: a) Customer’s property all risk insurance deductible, or
b) € 250,000 per occurrence with an aggregate limit of two (2) occurrences per
year.
That is a original paragraph from a contract.
Here’s my understanding of part of it.
For damages to the Work from two aspects:
1) defects by supplier 2) remedial work was done by supplier
For above damages ,supplier is only obligated of the extent due to its carelessness.
Supplier is only obligated of the less serious incidents: a) HAVE NO IDEAR AT ALL
b) this kind of thing(carelessness) happen
I will appreciate your reply and explanation.
Top answer
Anonymous Supplier’s liability for damages caused to the Work by defects or remedial work carried out by Supplier shall be limited to the extent of Supplier’s negligence and only then to the lesser of: a) Customer’s property all risk insurance deductible, or b) € 250,000 per occurrence with an aggregate limit of two (2) occurrences per year. That is a original paragraph from a contract. Here’s my understanding of part of it.
- Anonymous Supplier’s liability for damages caused to the Work by defects or remedial work carried out by Supplier shall be limited to the extent of Supplier’s negligence and only then to the lesser of: a) Customer’s property all risk insurance deductible, or b) € 250,000 per occurrence with an aggregate limit of two (2) occurrences per year.
- That is a original paragraph from a contract.
- Here’s my understanding of part of it.
- For damages to the Work from two aspects: 1) defects by supplier 2) remedial work was done by supplier I agree with you on this.
- For above damages ,supplier is only obligated of the extent due to its carelessness.
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3 Answers
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AnonymousSupplier’s liability for damages caused to the Work by defects or remedial work
carried out by Supplier shall be limited to the extent of Supplier’s negligence and
only then to the lesser of: a) Customer’s property all risk insurance deductible, or
b) € 250,000 per occurrence with an aggregate limit of two (2) occurrences per
y
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Yes,thanks for your help.
But can you explain more of "the lesser of".Does this just mean pick the one less amount money?
But can you explain more of "the lesser of".Does this just mean pick the one less amount money?
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I think that it what it means - the lower sum of the two options cited in the paragraph [which is a thoroughly obscure one even by legal standards].
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