Countrywide Legal Indemnities’ Post

An interesting read and a cautionary tale on the pitfalls to avoid when billing a client!

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🆕 Efforts to reduce disputes between solicitors and clients have shown little success, according to the Association of Costs Lawyers’ (ACL) latest survey.  https://lnkd.in/eXWhRv3J

The most dangerous risk is the unknown risk. SHA Risk Specialists is hosting part 2 of their online webinar series, Peril Paralysis. See below for more details and to discuss concerns about your own Professional Indemnity or Director and Officers cover, feel free to reach out to us.

The Truth About Indemnity Clauses It’s not always about what’s in the contract, but what’s hidden in the fine print. Recently, a client handed me a contract they were about to sign, thinking everything was in order. But here’s what I found buried deep in the legalese: Clause: ‘The client agrees to indemnify, defend, and hold harmless the company from any and all claims, damages, losses, liabilities, costs, and expenses (including legal fees) arising out of or related to the project, including third-party claims, regardless of fault.’ I turned to the client and said, "This means if something goes wrong, you could be held responsible for covering all legal costs and damages—even if it wasn’t your fault." Their response? "I had no idea!" My advice: Indemnity clauses can expose you to serious financial risks. In simple terms, if anything happens—even something completely out of your control—you might end up paying the price. Make sure to always negotiate such clauses and limit your liability to protect yourself. Takeaway: Indemnity clauses are often overlooked, but they can put you in a vulnerable position. Always get legal advice before signing, and know what you're truly committing to. #ContractReview #IndemnityClause #ProtectYourself #LegalAdvice #HiddenRisks #LawyerLife

Join us for Part 2 of our Peril Paralysis webinar on Professional Indemnity and the Built Environment. In this session, we will delve deeper into the subject matter, providing additional case studies and detailed examples of claims. This will offer further insights into the complexities and nuances of professional indemnity within the built environment. To register, click on the link below: https://lnkd.in/dYAUZ8Ue

With yet another federal district court judge finding that the Corporate Transparency Act may have some constitutional issues - see Judge Mazzant's decision in Texas Top Cop Shop et al v Garland et al, EDTX 24CV00478 (Dkt 30) - I thought I'd repost my 2019 article on how the federal government could (perhaps) solve its CTA woes ... by taking a REAL ID Act approach to beneficial ownership. In response to 9/11, Congress decided to regulate the ID requirements needed to obtain state drivers' licenses. They did it through the REAL ID Act of 2005. That Act essentially said to the fifty states, "hey, do what you want to do when it comes to issuing driver's licenses, but if you want your citizens to use your driver's licenses to board airplanes or enter federal buildings, you'll do it our way." Perhaps a similar approach to beneficial ownership? "Hey, do what you want to do when it comes to forming companies, but if you want your companies to bid on and obtain federal contracts, they'll need to disclose their beneficial owners." I'm not a lawyer, but I have yet to hear from any lawyers on why this, or a similar approach, wouldn't work. https://lnkd.in/eiGf8TJ

From my bulletin article linked below: “…In conclusion, an ounce of prevention is worth a pound of cure. If you are a BIC, review your firm policies to see if each of these scenarios are clearly addressed. If you are an affiliated agent, it could be beneficial to consult your firm policy and your BIC in advance of any of these issues arising. Make sure you know how to remain compliant with the License Law and Rules, in addition to working within the bounds of your established firm policy, so that you are never faced with the sobering realization that you just worked for free.”

📢 Don’t be out of time! How long is too long? Gavin Evans, Partner in our Commercial Dispute Resolution team, explores the different types of civil claims and why timing is everything. No matter the type of claim, acting within the relevant limitation period is crucial—miss it, and you could lose your right to claim. Time waits for no claim—act now before it’s too late! 📰 Read the full story: https://lnkd.in/ezuWUQ2F #WilkesLaw #Article #CommercialDisputeResolution

Valuing Your Claim 💲🔍 Understand the worth of your case with expert insights. #CaseValue #WhatIsMyCaseWorth #PersonalInjuryLawyer #PersonalInjuryLaw #PersonalInjury #GitelmanLegalGroup #NewYorkLaw #NewYorkLawyer #GitLegalGroup