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6. Compensation: One of the most important clauses in consultancy agreement is the compensation clause, which specifies the amount to be paid in advance to the consultant for their services. Moreover, it specifies the method of payment, as well as the date on which payment is to be made.
A liability clause is a section of a contract that limits the amount of money one party has to pay another if damages specified in a business contract between the two parties occurs. Typically, liability clauses limit one party's liability to a fixed dollar amount.
The Consultant shall be and remain liable in ance with applicable law for all damages to the Owner and the Owner's property caused by the improper acts, errors or omissions of the Consultant or by any Subconsultants in performing any Services.
A penalty clause is one of the clauses of the concluded contracts by and between parties to a contract, whereby one of the contractual parties has to pay a monetary compensation in favor of the counterparty, in case of breaching any obligation(s) within the implementation of a contract's provisions.
I understand and agree that IU is not liable for personal injury, illness, or any other condition or effect (including an injury, illness, condition, or effect that is caused by criminal activity) that results directly or indirectly from my use of the Facility.
To limit your liability and protect your assets, you should include a liability clause in your consulting contract that defines the maximum amount of compensation you are liable for, the types of damages you are not liable for, and the situations in which you are not liable at all.
?Consultant agrees to hold harmless and indemnify Client from any and all liability, arising out of Consultant's negligence, whether it be sole or in concert with others, in connection with performance of the services described herein.? caused by Consultant's negligent performance of services.?
The consulting agreement is an agreement between a consultant and a client who wishes to retain certain specified services of the consultant for a specified time at a specified rate of compensation. As indicated previously, the terms of the agreement can be quite simple or very complex.