I'm curious to hear what you guys think about using a contract clause that limits the surveyor's liability for errors or omissions to a certain dollar amount. Give clients the option to pay a higher fee if they want a higher limit
The business is selling surveys
Depends on what kind of surveying you do. My niche is ALTA surveys for some pretty sophisticated clients and my drawings are carefully reviewed by a potful of smart title people and attorneys (and a few paralegals), so chances of anything getting past is rather slim. I've never had a claim against me.
I’d never do it without the input of at least a couple of attorneys and call to my E&O insurer. There would be a host of details to consider including how you would consistently assess the risk in an open and fair manner. I’d be concerned that assigning a cap to your liability potential might knock you out of the gross negligence category and into simple negligence or something with a lower bar.
You’re a step ahead of most PLSs by simply thinking about the potential risk of a given project. It’s shocking how few surveyors in my area of Eastern NC charge for what I’ve come to call the, “build it here”, fee. Contractors are perfectly capable of doing many of the tasks they hire surveyors for, but they don’t want the responsibility. Most PLSs ignore this and charge by the hour regardless of whether they’re staking out a sediment pond or a bridge piling.