Understanding Damages Waivers: Consequential, Incidental, Lost Profits, and More | Practical Law
A Practice Note discussing waivers of consequential, incidental, indirect, lost profits, special, and other damages (often referred to as consequential damages waivers) in limitation of liability clauses in commercial contracts. This Note describes the categories of damages and includes guidance for understanding and negotiating consequential damages waivers, including common carve-outs, and ensuring consistency with indemnification provisions.