REO Property Preservation Forum banner

1 - 7 of 7 Posts
7

·
Guest
Joined
·
0 Posts
Discussion Starter #1
Good Morning,

I have been filling out vendor packets today when I read this paragraph and, after consideration, I do not fully understand what this paragraph is saying. I will post this paragraph for your consideration in the attempts to shed some light on this subject.

Vendor Packet said:
Independent Contractor also agrees to defend, indemnify, save and hold harmless Service Company, its principals, employees and agents from any and all claims, damages, losses and actions resulting from or arising out of Independent Contractor's effors to perform property preservation services for the above claim, except, as may be caused by or which arises out of negligence on the part of the Service Company, its principals, employees or agents.
Does this paragraph, in short, state that I agree to not place a lien on a property to recuperate a financial loss?

Any and all comments are welcome.

Thank you
 

·
Contractor
Joined
·
486 Posts
Sounds like the normal legal double speak... don't sign it, or include your own ... stating that you will defend and hold harmelss the same for neglience or omissions related to specfic work tasks assigned and granted work approval to perform... or something like that.
To me it doesn't read that they want you to waive your right as a contractor to lien a property.
 
D

·
Guest
Joined
·
0 Posts
Discussion Starter #3
72opp said:
Good Morning,

I have been filling out vendor packets today when I read this paragraph and, after consideration, I do not fully understand what this paragraph is saying. I will post this paragraph for your consideration in the attempts to shed some light on this subject.



Does this paragraph, in short, state that I agree to not place a lien on a property to recuperate a financial loss?

Any and all comments are welcome.

Thank you
What it appears to be saying is that if you cause some type of damage or event while performing the ordered work you will bare the burden to defend them should it be necessary. If they are the ones that caused it then this would not apply.

*** Warning, I'm not a lawyer and never played one on t.v. Seek competent legal counsel regarding to base your decisions on. ***
 
P

·
Guest
Joined
·
0 Posts
Discussion Starter #6
72opp said:
Good Morning,

I have been filling out vendor packets today when I read this paragraph and, after consideration, I do not fully understand what this paragraph is saying. I will post this paragraph for your consideration in the attempts to shed some light on this subject.



Does this paragraph, in short, state that I agree to not place a lien on a property to recuperate a financial loss?

Any and all comments are welcome.

Thank you
No it doesn't have anything to do with a lien. In theory :sad:

It's basically saying that if you screw up and damage something, you are liable. The company is not liable for your screwup. If your PP efforts cause damage due to some sort of negligence on the company's part, then they are liable (such as not informing you that several pipes are corroded/busted before you do a winterization).
 
1 - 7 of 7 Posts
Top