Loss Prevention

Contract Reviews – part of Skuld’s active Loss Prevention service

Care for your future in the present

Owners and Charterers continuously enter into contracts of varying degrees of complexity and extent of liabilities. Most of the risks involved can be managed, and Skuld can be your partner in controlling and reducing the liabilities taken on. The sooner Skuld is involved in the contracting process, the better is our chance to help.

The purpose of a contract is to allocate obligations, rights and risks between the parties. Contracts may place onerous liabilities on one party, cut off recourse rights or even limit the amount recoverable in case of a fault from one party. We also see assureds taking on liabilities which fall beyond the scope of their cover or indeed common industry practice.

Skuld lawyers come from a multitude of jurisdictions and by applying our wide skills and the correct legal background case by case we are well placed to identify the pitfalls and legal technicalities of a contract and advice accordingly, whether it be to re-negotiate, to reject, how to share the onerous obligations or other. Working with our technical team and underwriters, we can advise on technical issues or on how to further address risks through tailored insurance solutions.

The best insurance is prevention

Skuld’s aim is to always keep the commercial operations of our members and clients moving smoothly and with minimal interruption. Our contract review service assists in identifying risks early and addressing them in time so that expensive later disputes can be avoided.

Contract reviews form an integral part of Skuld’s active Loss Prevention as a tailormade service for the individual needs of our members and clients.

For any assistance in these matters, please contact your Skuld representative.