Limitations of Liability Provisions in Construction Contracts: A Means to Manage Risk and Limit Financial Exposure

Limitation of liability (LOL) clauses in construction contracts help manage specific project risks and cap financial exposure for contractors. These provisions are a standard tool for protecting parties from excessive cost overruns and liability claims.

Specific construction risks can be limited through an LOL clause—that's limitation of liability. The post Limitations of Liability Provisions in Construction Contracts: A Means to Manage Risk and Limit Financial Exposure first appeared on Construction Executive .

This story was originally published by Construction Executive.