Representations and Warranties

{
  "id": "MLC-T-ENV-023914",
  "term": "Representations and Warranties",
  "field": "Environment",
  "definition": "A risk allocation tool used in property transactions which involves statements of fact (representations) and promises (warranties) that a seller makes to a buyer. Typically provided by seller to disclose environmental risks associated with acquisition of business or some or all of its assets.",
  "subject": "Land, waste and cleanup",
  "references": [
    "Environmental Insurance and Risk Management Tools Glossary"
  ],
  "url": "https://mlchart.com/terminology/environment/representations-and-warranties/"
}