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The foregoing clause mentioned by you is a limitation of liability clause, which lays down various stipulations such as either party not being liable for indirect or consequential losses etc., a cap on the maximum possible liability of the customer under this agreement etc. This clause therefore merely stipulates and lays down the various types of lia...
Wazzeer Professional Network
ProfessionalWe may hardly get INR 5-10 lakh/annum from our recruitment services to client. but the below paragraph says, if there is breach then we have to pay 5 crores. Should I sign this legal agreement? We know this is not possible, but can we have this in our agreement? As this clause may take all our hard earnings of 10-15 years in 1 short. limitations on liability. except for damages or losses arising from infringement or misappropriation of a party’s intellectual property, in no event shall either party be liable to the other for special, consequential, incidental, indirect, punitive or exemplary damages, whether arising in contract (including warranty), tort (including active, passive or imputed negligence, strict liability or product liability) or otherwise, including, but not limited to, loss of use, loss of data, business interruption, loss of revenue, loss of profits, loss of business or other financial loss arising out of or in connection with this agreement, even if such party is advised of the possibility of such damages. f5's total aggregate liability to the customer under this agreement Maximum of the total amount actually paid by the customer for the services in the twelve (12) months preceding the event OR 5 crores giving rise to liability. the foregoing limitations do not apply to any liability for death or personal injury or to any liability which may not be lawfully excluded by the governing law of this agreement as set out in section
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Wazzeer Professional Network
ProfessionalThe foregoing clause mentioned by you is a limitation of liability clause, which lays down various stipulations such as either party not being liable for indirect or consequential losses etc., a cap on the maximum possible liability of the customer under this agreement etc. This clause therefore merely stipulates and lays down the various types of liabilities and further caps the maximum liability of the customer at Rs. 5 crores. It does not mean that the liability is fixed at Rs. 5 crores but only means that the maximum liability can only be Rs. 5 crores. There is accordingly no harm in having such a clause although the amount of capping etc. can be mutually discussed and agreed between the parties and can be reduced to a reasonable sum.
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over 4 years ago
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We may hardly get INR 5-10 lakh/annum from our recruitment services to client. but the below paragraph says, if there is breach then we have to pay 5 crores. Should I sign this legal agreement? We know this is not possible, but can we have this in our agreement? As this clause may take all our hard earnings of 10-15 years in 1 short. limitations on liability. except for damages or losses arising from infringement or misappropriation of a party’s intellectual property, in no event shall either party be liable to the other for special, consequential, incidental, indirect, punitive or exemplary damages, whether arising in contract (including warranty), tort (including active, passive or imputed negligence, strict liability or product liability) or otherwise, including, but not limited to, loss of use, loss of data, business interruption, loss of revenue, loss of profits, loss of business or other financial loss arising out of or in connection with this agreement, even if such party is advised of the possibility of such damages. f5's total aggregate liability to the customer under this agreement Maximum of the total amount actually paid by the customer for the services in the twelve (12) months preceding the event OR 5 crores giving rise to liability. the foregoing limitations do not apply to any liability for death or personal injury or to any liability which may not be lawfully excluded by the governing law of this agreement as set out in section
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Wazzeer Professional Network
ProfessionalThe foregoing clause mentioned by you is a limitation of liability clause, which lays down various stipulations such as either party not being liable for indirect or consequential losses etc., a cap on the maximum possible liability of the customer under this agreement etc. This clause therefore merely stipulates and lays down the various types of liabilities and further caps the maximum liability of the customer at Rs. 5 crores. It does not mean that the liability is fixed at Rs. 5 crores but only means that the maximum liability can only be Rs. 5 crores. There is accordingly no harm in having such a clause although the amount of capping etc. can be mutually discussed and agreed between the parties and can be reduced to a reasonable sum.
'Get your Wazzeer' to have a Lawyer take up your case and serve you seamlessly on Wazzeer.
over 4 years ago
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