• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Insurance

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Insurance

    Just got a contract through the post and they want £5million of professional indemnity. That seems a little excessive - most providers only offer 1 or 2 million max. Looks like I'm not going to get a tick in that box.
    Last edited by BoredBloke; 16 June 2006, 11:46.
    Rule Number 1 - Assuming that you have a valid contract in place always try to get your poo onto your timesheet, provided that the timesheet is valid for your current contract and covers the period of time that you are billing for.

    I preferred version 1!

    #2
    £5M?!?

    It's getting silly now.

    Comment


      #3
      No Substitution clause either!
      Rule Number 1 - Assuming that you have a valid contract in place always try to get your poo onto your timesheet, provided that the timesheet is valid for your current contract and covers the period of time that you are billing for.

      I preferred version 1!

      Comment


        #4
        Also don't like this clause

        where the Supplier is rejected by the client within the first 4 weeks of the assignment and the agreement is terminated as a result, the supplier shall refund all monies paid to the supplier for the assignment

        Does this mean, if the client decides that they don't want me within the first 4 weeks that they can get shut and I have to pay back the money earned and already paid to my company?
        Rule Number 1 - Assuming that you have a valid contract in place always try to get your poo onto your timesheet, provided that the timesheet is valid for your current contract and covers the period of time that you are billing for.

        I preferred version 1!

        Comment


          #5
          Only if you're dumb enough to sign the contract

          Originally posted by TonyEnglish
          Also don't like this clause

          where the Supplier is rejected by the client within the first 4 weeks of the assignment and the agreement is terminated as a result, the supplier shall refund all monies paid to the supplier for the assignment

          Does this mean, if the client decides that they don't want me within the first 4 weeks that they can get shut and I have to pay back the money earned and already paid to my company?

          And given that you're neither SAS or chicken, I doubt you would.
          Why not?

          Comment


            #6
            Originally posted by TonyEnglish
            Also don't like this clause

            where the Supplier is rejected by the client within the first 4 weeks of the assignment and the agreement is terminated as a result, the supplier shall refund all monies paid to the supplier for the assignment

            Does this mean, if the client decides that they don't want me within the first 4 weeks that they can get shut and I have to pay back the money earned and already paid to my company?
            I doubt this is legal, but only an idiot would sign it. Name & shame the agency so we can add to our "avoid like the plague" lists please.
            His heart is in the right place - shame we can't say the same about his brain...

            Comment


              #7
              The agency is Modis. The contract is a joke.
              Rule Number 1 - Assuming that you have a valid contract in place always try to get your poo onto your timesheet, provided that the timesheet is valid for your current contract and covers the period of time that you are billing for.

              I preferred version 1!

              Comment


                #8
                Originally posted by TonyEnglish
                Just got a contract through the post and they want £5million of professional indemnity. That seems a little excessive - most providers only offer 1 or 2 million max. Looks like I'm not going to get a tick in that box.
                That's mad. Whatever you are contracted to do, I'm sure £250K-£500K sum insured is sufficient. Sounds like the customer has pasted in a standard clause to your contract and not thought too deeply on the level of cover. Challenge it politely.
                "My God, it's huge!!"

                Comment


                  #9
                  Now that I've read the rest of the thread, yes, I'd walk away from this contract,
                  "My God, it's huge!!"

                  Comment


                    #10
                    Just spoken to them. The 5 million - oh don't bother about that!! Why is it on the contract if I don't bother about it. Also said I wanted a substitution clause and the clause above taking off. They are sending me an updated contract.
                    Rule Number 1 - Assuming that you have a valid contract in place always try to get your poo onto your timesheet, provided that the timesheet is valid for your current contract and covers the period of time that you are billing for.

                    I preferred version 1!

                    Comment

                    Working...
                    X