Limitation of Liability regime overview
- Breach due to inadvertent or honest mistake or error (not amounting to negligence) or other default not specified in (2) and (3) below → No liabilities
- Breach due to intentional, willful or reckless action or conduct → No cap on liabilities
- Breach due to negligence → Limited to an aggregate sum of S$1mln per incident (or series of connected incident) giving rise to such liabilities
In event of conflict or overlap between the above and External Rights between the Participants, such External Rights shall prevail and supersede.
Please refer to the diagram below:
(Click on image to enlarge)