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Gatekeeper Contract and Vendor Management Glossary

Search common contracting language and take a deeper dive to discover what each means

Glossary > L

Liability

Liability is an Obligation on a Party to a contract, on its Breach of Contract, to compensate another Party to the Contract for any harm so caused.

Businesses can limit their liability by including specific clauses that minimise the amount of compensation that can be claimed.

Claims for direct losses and indirect losses can both be disputed, so it's important to know what all parties are liable for. 

Gatekeeper's Global Search engine makes it easy to find liability-related clauses within your portfolio.

Search for terms within all documents from any area of the platform. 

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