The Consulting Liability Waiver is essential for professional service providers operating in Hong Kong who seek to manage their legal exposure while maintaining professional relationships with clients. This document becomes necessary when consultants or consulting firms engage in advisory services where there are inherent risks or uncertainties in implementing recommendations. It addresses key requirements under Hong Kong law, including the Control of Exemption Clauses Ordinance and professional services regulations, while providing a balanced approach to risk allocation between consultants and their clients. The document is particularly relevant in situations where high-stakes advice is being provided, or where consulting recommendations could have significant business impacts. It typically includes detailed service descriptions, risk acknowledgments, liability limitations, and specific carve-outs for gross negligence or willful misconduct, all structured within Hong Kong's common law framework.
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Key Requirements PROMPT example:
Consulting Liability Waiver
"I need a Consulting Liability Waiver for my IT consulting firm based in Hong Kong, providing cybersecurity advisory services to financial institutions, with specific emphasis on data protection and cyber-risk disclaimers."
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1. Parties: Identification of the consultant and the client, including full legal names and addresses
2. Background: Context of the consulting relationship and purpose of the liability waiver
3. Definitions: Key terms used throughout the document, including 'Services', 'Liability', 'Claims', etc.
4. Scope of Services: Clear description of the consulting services covered by the waiver
5. Acknowledgment of Risks: Client's acknowledgment of inherent risks in consulting services
6. Waiver of Liability: Specific terms of the liability waiver, including what is and isn't covered
7. Limitations and Exceptions: Circumstances where the waiver doesn't apply (e.g., gross negligence, willful misconduct)
8. Indemnification: Client's agreement to indemnify consultant for certain claims or losses
9. Governing Law: Specification of Hong Kong law as governing law and jurisdiction
10. Execution: Signature blocks and execution requirements
1. Insurance: Details of professional liability insurance coverage, recommended when consultant carries professional indemnity insurance
2. Confidentiality: Provisions for handling confidential information, needed when sensitive information is involved
3. Intellectual Property: IP rights and ownership provisions, necessary when consulting work involves creation of intellectual property
4. Term and Termination: Duration of the waiver and termination provisions, useful for ongoing consulting relationships
5. Dispute Reֱ: Detailed dispute reֱ procedures, recommended for high-value consulting arrangements
6. Force Majeure: Provisions for unforeseeable circumstances, important in long-term consulting relationships
1. Schedule A - Detailed Services Description: Comprehensive list and description of consulting services covered by the waiver
2. Schedule B - Specific Risks and Disclaimers: Detailed list of specific risks associated with the consulting services
3. Schedule C - Insurance Coverage Details: Details of professional liability insurance coverage if applicable
4. Appendix 1 - Professional Qualifications: Consultant's relevant qualifications and certifications
5. Appendix 2 - Risk Assessment: Detailed assessment of potential risks and mitigation measures
Authors
Relevant legal definitions
Clauses
Relevant Industries
Management Consulting
IT Consulting
Financial Services
Professional Services
Business Advisory
Technology
Healthcare Consulting
Strategy Consulting
Operations Consulting
Human Resources Consulting
Environmental Consulting
Legal Services
Real Estate Advisory
Engineering Consulting
Relevant Teams
Legal
Procurement
Risk Management
Compliance
Professional Services
Business Development
Operations
Finance
Human Resources
Information Technology
Strategy
Corporate Affairs
Relevant Roles
Management Consultant
Business Advisor
Strategy Consultant
IT Consultant
Financial Advisor
Risk Management Consultant
Operations Consultant
Chief Executive Officer
Chief Financial Officer
Legal Counsel
Procurement Manager
Project Manager
Business Development Director
HR Director
Risk Manager
Compliance Officer
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