General Damages

General Damages in insurance market, are the compensation for direct effects of the accident and injury suffered or breach of contract. The General Damages are likely to continue into the future and/or no exact value can be calculated, but the appropriate amount to be compensated as damages. (e.g., pain & suffering, loss of promotion or opportunity, disadvantage, inability to perform certain function, hobby, future loss of earning, etc.) (Opposite of the Special Damages)

Related Definitions in the Project: The Bond and Insurance; Project Contract

Posted in Controls, Management and tagged , , , .

ThePD (The Project Definition)

ThePD has been developing the Preferred Project Definitions based on the actual project execution and operation experiences and knowledge with the Project Language, and sharing with you daily basis.