EXCLUSIVE REMEDIES
Other Names: Sole and Exclusive Remedy • Sole Remedy • Exclusive Remedy • Exclusive Remedy and Release • Exclusive • Remedy • Remedies • Remedies Exclusive
Sample Clause Language:
The provisions of [SECTION NUMBER WITH EXCLUSIVE REMEDY – E.G., INDEMNIFICATION] shall be the sole liability of [PARTY A] and sole remedy of [PARTY B] with respect to [DESCRIBE SPECIFIC BREACHES].
Source: Based on Horizon Therapeutics Public LTD Co. (2019, May 8). Form 10-Q. Retrieved from SEC EDGAR website http://www.sec.gov/edgar.shtml
Description:
Exclusive Remedies clauses provide that certain remedies are the only remedies that a party can seek for a specific type of breach or any breach. The sample clause here is unilateral and drafted in favor of Party A. The clause provides that Party B will only have certain remedies available to it for specific breaches.
Common Contracts with this Clause:
- Service Agreements
- Independent Contractor Agreements
- Purchase Agreements
- Licensing Agreements
What you'll see with Lawgood:
Three (3) Alternative Positions
- Mutual (General)
- Mutual (Specific)
- Unilateral
Draft better contracts with Lawgood.