"You agree to bear the full, unlimited financial burden for any costs or claims arising from your contractors' mistakes, regardless of any fault on our or our client's part."
It's a shame that we still see this type of "hold harmless" indemnity clause inserted into contracts by people, who think they are doing themselves and their clients a favour.
What do you think your chances would be of getting contractual liability insurance cover for the risk you take on if you sign it? And where does that leave you?
Are these clauses fair? Is it fair to win business by signing a clause like this and taking on risk improvidently?
What do think might happen, after November this year, when fines of up to $50 million per contravention can be imposed under the Australian Consumer Law for including unfair terms in standard form small business contracts?
There's plenty to talk about here. I hope you'll take the opportunity to join the conversation.
ACW