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A limitation of liability clause is a provision in a contract that limits the amount of exposure a company faces in the event a lawsuit is filed or another claim is made. If found to be enforceable, a limitation of liability clause can cap the amount of potential damages to which a company is exposed. The limit may apply to all claims arising during the course of the contract, or it may apply only to certain types of causes of action.
An 'exclusion clause' is not fully defined in UCTA, but can include any clause attempting to: 1  restrict or exclude liability; 2  make a liability, or the enforcement of a liability, subject to restrictive conditions; 3  restrict the rights and remedies of the wronged party; or.4  restrict rules of evidence or procedure.n order to create certainty, the parties may wish to limit the scope of what each can claim for. They can do so by using a clause â often called an 'exemption clause' which limits each party's liability to that which is set out in the contract. There are various ways of limiting liability in a contract.