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Setting up as a "Limited company" Electronics engineer

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jc101:
"we" are not sole traders as a single entity, "you" could be a sole trader.  If there is more than one of you, there is the option of an LLP too.

I have to carry, or my Ltd company does, a minimum of £1m professional indemnity insurance.  It's mandated by the clients T&C's.  One wanted £5m, they conceded £1m would do after challenging it.

If you design anything, then professional indemnity insurance is a good thing to have.  If you are simply providing labour to assemble a complete kit of parts given to you, then probably not so much.

ebastler:

--- Quote from: jc101 on March 04, 2024, 09:28:09 pm ---If you design anything, then professional indemnity insurance is a good thing to have. 

--- End quote ---

Liability and warranties can always be defined in the contract. It's a matter of negotiation, I'd say. But as you described, the customer may just not be willing to sign a "best effort, no warranty, all liability rests with the customer" contract.

And even in the best case it will be hard to negotiate away liability in case of neglicence, so some type of indemnity insurance will probably be required.

jonpaul:
Hell again:

The lawyers use a boilerplate and keep def of liab as wide as possible.

  contracts are biased towards the writer eg large firm, customer. We mad eour own T&C exactly to limit liab in any proposal.

 So, depending on the venue and legal advise, an LLC, indicvidaul or small firm has unlimited liabilty for sales or services to anothe firm.


PLEASE CONSULT AN LISCENCED ATTOURNEY AND COMPLIANCE FIRM IN YOUR LOCATION.

THIS IS NOT LEGAL ADVICE WE HAVE NO LIABILITY

 Good luck

Jon

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