Cover immediately begins from the inception date of the policy. New policies have a 90-day waiting period for Tax Audits and Contractual Disputes. Premium finance is accessible to help you out with the monthly insurance payments. Please note that the terms expressed to you upon quotation will be subject to confirmation in case of the absence of contractual disputes in Construction Services.
To understand contractual disputes better, let’s have an example. You entered a contract with an advertising group to promote a new product through certain events. You paid the group with the agreed amount at the arranged time. However, this particular advertising group did not want to complete the job due to a loophole in the contract.
According to the other party, they already went beyond their limits based on what’s stated in the contract. You, as the policyholder, may be advised to lodge a claim. Your lawyer could talk to the other party on your behalf, obliging them to follow the agreement terms. Despite the word from the lawyer, requiring them to complete their task to your satisfaction, the advertising group did not comply.
As a result, Failure to comply results in you suing the group. Because you’re protected through Commercial Legal Expense Insurance, your policy will pay the legal fees of your lawyer. Additionally, you could receive payment for the contractual damage.