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Liability waiver. A liability waiver is a legal document that a person who participates in an activity may sign to acknowledge the risks involved in their participation. By doing so, the company attempts to remove legal liability from the business or person responsible for the activity.
Lien waiver. In the mechanics lien process, a lien waiver is a document from a contractor, subcontractor, materials supplier, equipment lessor or other party to the construction project (the claimant) stating they have received payment and waive any future lien rights to the property (of the owner) for the amount paid.
The Joint Contracts Tribunal was established in the 1930s by the Royal Institute of British Architects (RIBA) and the National Federation of Building Trades Employers (NFBTE), to consider future proposals for amending the Form of Contract which had been published in 1931. Its first chairman, to 1956, was Sydney Tatchell, [2] followed by Sir ...
Latent defect. In the law of the sale of property (both real estate and personal property or chattels) a latent defect is a fault in the property that could not have been discovered by a reasonably thorough inspection before the sale. In relation to a construction contract, a latent defect is a fault in the property or its underlying site which ...
Decennial liability. Decennial liability insurance or "Inherent Defect Insurance" is insurance that is taken out (by the contractor or principal) to cover costs associated with the potential collapse of a building after completion. The name derives from the fact that it covers the 10 year period (decade) after completion of the project. [1]
Commercial general liability insurance is a broad type of insurance policy which provides liability insurance for general business risks. In the United States insurance market this is known as Commercial General Liability (CGL). It is the "first line" of coverage that a business typically purchases, [1] and covers many of the common risks that ...
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