Ensure Contracts State What Is Intended
MCIT members enter into a variety of contractual agreements ranging from leases, construction contracts and contracts for services. Language in contracts or agreements may expose members to liability in a variety of ways, such as accepting responsibility for the actions of parties involved in the arrangement or agreeing to provide coverage that is excluded by MCIT. If members are not careful, they could unintentionally assume unwanted liability.
MCIT can offer assistance to members by reviewing contractual provisions in a number of areas, including:
- Insurance provisions
- Additional insured status
- Hold harmless and indemnification
- Waiver of subrogation
Managing the Risks of Contracts
- The Resource Library includes a number of articles to help members manage risks involved when entering into a legal agreement with other parties.
- MCIT risk management consultants can review contracts from a risk management perspective for members.* Members are encouraged to follow their entities’ contract review processes and obtain the proper approval for agreements.
MCIT staff is available to present training sessions for members related to contract risk management. See the Speaker Services page for more information.