Define: Errors and Omissions

How is Errors and Omissions defined in a legal contract?

• Errors and Omissions means any inadvertent mistake or misunderstanding that occurs in a report concerning reinsurance. Such inaccuracies don't influence the responsibility of the reinsurer towards any reinsured policy. Any mistakes will be corrected once identified without forgoing any rights outlined in the [clause]. Seen in 10 SEC filings
• Errors and Omissions means the flaws or deficiencies in the plans or documents formulated by a consultant, which must be rectified to let the project operate or be built as initially planned. Seen in 5 SEC filings
• Errors and Omissions means any unforeseen delay, oversight, or error that should not exonerate either party from liability if such delay, omission, or error had not occurred, so long all mistakes or errors are amended upon identification. Seen in 4 SEC filings
• Errors and Omissions means an actual or alleged error, omission, or negligence in the performance of professional duty. This includes any misstatement, misleading statement, act of negligence, breach of duty or a lack of ordinary skill in duty performance. This is also applicable in the situation of misfeasance, malfeasance, or nonfeasance. Seen in 2 SEC filings
• Errors and Omissions means any error, oversight, or negligence by the insured party that results in work discrepancy to the written specifications provided by the party whom the work was performed for. The work is deemed as failed only after installation and testing has been done and it is rejected by the particular party. Seen in 1 SEC filing
• Errors and Omissions means a mistake, confusion, miscalculation, or clerical error that is an accidental deviation from the standard practice or procedure of the insured. Seen in 1 SEC filing

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of errors and omissions' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Errors and Omissions means any unintended mistake, misunderstanding, or oversight in performing a professional duty or creating a document.

Relevant Contract Types

• Construction Contract
• Consulting Agreement
• Professional Services Agreement
• Reinsurance Contract

Relevant Circumstances

• Professional service delivery
• Documentation and reporting
• Project execution
• Quality control and assurance

Relevant Sectors

• Construction
• Consulting
• Insurance

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Genie Definition 2

Errors and Omissions means any actual or alleged negligence resulting in a discrepancy between work performed and specified requirements.

Relevant Contract Types

• Supply Agreement
• Service Level Agreement
• Outsourcing Agreement

Relevant Circumstances

• Supplier performance review
• Contractual deadline compliance
• Delivering products or services meeting specified requirements

Relevant Sectors

• Manufacturing
• Healthcare
• Information Technology

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