Act, Error, Omission etc Sample Clauses

The "Act, Error, Omission etc" clause defines how responsibility and liability are allocated when actions, mistakes, or failures to act occur in the performance of a contract. Typically, this clause clarifies whether a party is liable for losses or damages resulting from their own acts, errors, or omissions, and may specify exceptions such as negligence or willful misconduct. Its core function is to ensure clarity regarding accountability, helping to prevent disputes by outlining the consequences of various types of conduct during the contractual relationship.