Abstract

Offshore contracts often include broad knock-for-knock indemnity provisions, whereby parties mutually agree to indemnify each other for a wide range of losses. The Court of Appeal has affirmed that when interpreting exclusions within such contracts, the primary approach is to apply the ordinary meaning of clearly defined terms, provided the language used is unambiguous. This stance aligns with the principle of freedom of contract, ensuring that parties' agreed exclusions are upheld. The court has also emphasized that historical interpretations of "consequential loss" under English law do ...