MLchartDataset catalogue

Contractual liability

Term · Insurance and risk management · MLC-T-INS-000954

Liability assumed by one party on behalf of another under the terms of a contract. This type of liability arises when one party agrees to indemnify or hold harmless another party for certain risks. It is a common feature in construction contracts, leases, and service agreements, and often requires specific insurance coverage.

Table 1. Record
IdentifierMLC-T-INS-000954
FieldInsurance and risk management
SubjectCommercial Liability
Record as JSON 
{
  "id": "MLC-T-INS-000954",
  "term": "Contractual liability",
  "field": "Insurance and risk management",
  "definition": "Liability assumed by one party on behalf of another under the terms of a contract. This type of liability arises when one party agrees to indemnify or hold harmless another party for certain risks. It is a common feature in construction contracts, leases, and service agreements, and often requires specific insurance coverage.",
  "subject": "Commercial Liability",
  "url": "https://mlchart.com/terminology/insurance/contractual-liability/"
}

Record 755 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.