Liability & Disclaimer
a. Any report or advice produced under the terms of the Service Agreement is intended solely for the use of the Client and shall not be further distributed, circulated, published or relied upon by any 3rd party without the express written agreement of HIBL.
b. All reports which include HIBL’s written assessment of the market value of a vessel, cargo or other goods or chattels may only be construed as an expression of the attending surveyor’s professional opinion.
c. While all reasonable efforts will be made to ensure accuracy in respect of the observations and opinions expressed in HIBL ‘s reports and advice, such observations and opinions are provided without warranty, and neither HIBL nor any of its directors, employees, franchisees, representatives or sub-contractors shall in any circumstances be liable to any person whatsoever for any act, omission or default in connection with any report’s preparation and issuance howsoever arising for any amount exceeding US$5,000, inclusive of interest and costs. Provided always that any such payment in damages shall only be consequent upon a final and unappealable judgment by a competent court or tribunal or as agreed between the parties and endorsed by HIBL’s professional liability insurers.
d. HIBL shall not be liable for any damage or loss to the Client if caused by a HIBL employee, franchisee representative or sub-contractor during the commission of a criminal act or by way of wilful default or recklessly with intent to cause loss and any such activity shall not be construed as being an act performed within the scope of such persons employment with or engagement by HIBL.
e. In respect of any claim arising out of the Service Agreement, if proceedings have not been commenced by the Client within 120 days after becoming aware of the circumstances giving rise to the claim, then any such claim shall be extinguished and time barred absolutely.