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

Limitation of liability (LOL) clauses in construction contracts allow parties to cap their financial exposure by restricting damages for specific project risks. These provisions help contractors and owners manage uncertainty and protect themselves from potentially devastating cost overruns.

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.