Gross Negligence in EPC Contracts

Description

This Skill Bit shows that gross negligence surpasses ordinary carelessness, signifying a severe breach of duty. It involves failing to meet basic standards of diligence, showing a reckless disregard for foreseeable harm. In an EPC contract, such negligence could lead to severe consequences, like accidents due to safety protocol violations. Legal ramifications are significant, often exempting parties from liability limitations and possibly incurring punitive damages. Recognizing and addressing gross negligence is vital in risk management and contractual relationships, particularly in specialized fields like construction.

Duration approx. 5 Min.

Tier: advanced