Contributed By McGuireWoods LLP
Construction contracts in Virginia manage risk in a wide variety of ways, including limitations of liability, waivers of consequential damages, insurance, bonding, pricing, scheduling, indemnification, and the like. Contractors can limit their own risk by incorporating a damages cap within the contract, which can help to limit their exposure. Virginia allows indemnification for one’s own negligence in certain circumstances. See, eg, Estes Express Lines, Inc. v. Chopper Express, Inc., 273 Va. 358, 641 S.E.2d 476, 2007 Va. LEXIS 25.