Common use of Compensation for Loss Clause in Contracts

Compensation for Loss. 7.1 The contractual parties are liable for caused damage within the framework of applicable legal regulations and this contract. The Seller is fully responsible for the performance of the contract even if any relevant part of the performance is provided by a subcontractor. 7.2 The contractual parties undertake to make maximum efforts to prevent damage and to minimise damage.

Compensation for Loss. 7.1 The contractual parties are liable for caused damage within the framework of applicable legal regulations and this contract. The Seller is fully responsible for the performance of the contract even if any relevant part of the performance is provided by a subcontractor. 7.2 The contractual parties undertake to make maximum efforts to prevent damage and to minimise damage. 7.3 The Seller undertakes to maintain the validity of the insurance policy concerning damage caused by the Seller to a third person during the entire period of performing their obligations, while the indemnity limit arising from the insurance policy shall not be lower than 0.5 million CZK.