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Nov 21, 2020 · Safe harbor refers to a legal provision to reduce or eliminate liability in certain situations as long as certain conditions are met. Safe harbor also refers to a shark repellent tactic used by ...
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Safe harbor provisions appear in a number of laws and in many contracts. An example of safe harbor in a real estate transaction is the performance of a Phase I Environmental Site Assessment by a property purchaser: creating a "safe harbor" protecting the new owner if, in the future, contamination caused by a prior owner is found. Another common ...
Safe harbor is a clause in a rule, regulation or agreement which exempts the entity from penalties or oversight. It provides protection from the turbulence of rules and regulations. It is the opposite of unsafe harbor, which describes a conduct that will be deemed to be in breach of a rule or regulation. The term safe harbor is used the real ...
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3 days ago · safe har· bor. : something (as a statutory or regulatory provision) that provides protection (as from a penalty or liability) had no safe harbor from prosecution.
Apr 15, 2024 · A safe harbor 401 (k) plan is a simpler version of a 401 (k) retirement plan that is exempt from many of the complex tax rules and compliance requirements applicable to traditional 401 (k) plans ...
safe harbor. A provision granting protection from liability or penalty if certain conditions are met. A safe harbor provision may be included in statutes or regulations to give peace of mind to good-faith actors who might otherwise violate the law on technicalities beyond their reasonable control. wex. THE LEGAL PROCESS. statutes. wex definitions.
