Fruit and Vegetable Marine Insurance

Sales Contract-Assumed Liability

Sign your name - destroy your business. When you sell your product and sign a contract, some of the assumed liabilities are: third party extortion, replacement cost value of your product, recall, bodily injury, buyer lost profits, buyer legal defense costs, adding coverage for your buyer under your insurance policy, and you pay the financial consequences whether negligent or not. The process is called risk transfer. Rarely is an attorney involved. There is blind risk taking by product sellers. Low-level, company administrators, lacking any knowledge of the financial consequences of risk, deal with these risks. How does your company deal with this issue?