Insurance liabilities
- In every transaction between Durham College/UOIT and our suppliers there is an exposure of liability to Durham College/UOIT.
- Most of these transactions involve a contract/agreement containing terms and conditions outlining responsibilities. These contracts are usually provided by the supplier and are drafted to favour the supplier.
- Durham College/UOIT wants to ensure that these contacts/agreements do not impose/transfer a liability/responsibility to us from the supplier, beyond what is reasonable.
- Before the contracts/agreements are signed is the time to review the insurance clauses and negotiate their removal or amendment. The insurance clauses will have some of the responsibility outlined; however, it is not unusual to find many other clauses and responsibilities sprinkled throughout the contracts and agreements.
- In the contract/agreement words such as:
- Hold harmless;
- Indemnify;
- Assume;
- Additional insured;
- Liability; and
- Total responsibility.
are used to transfer liability to Durham College/UOIT.
- Prior to signing any contracts/agreements, forward a copy of the entire contract/agreement to the Insurance + Risk Management department to the attention of Elaine Wannamaker.
- In consultation with you and with your assistance we will review:
- The contract/agreement;
- What it is intended to do;
- Your desire to complete the contract/agreement; and
- The positive impact for Durham College/UOIT.
Note: Signing authority for all contracts/agreements is restricted to the following individuals:
- President; and
- Assistant vice-president, Finance.
Only the above individuals may legally bind Durham College/UOIT into a contract/agreement.
