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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.
The meaning of SAFE HARBOR is something (as a statutory or regulatory provision) that provides protection (as from a penalty or liability). How to use safe harbor in a sentence.
The term safe harbor is used the real estate, legal and finance industries in several different ways. According to Cornell University Law School’s Legal Information Institute, safe harbor is: “A provision granting protection from liability or penalty if certain conditions are met.”.
A safe harbor is a provision of a statute or a regulation that specifies that certain conduct will be deemed not to violate a given rule. It is usually found in connection with a more-vague, overall standard. By contrast, "unsafe harbors" describe conduct that will be deemed to violate the rule.
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This new Framework, which replaces the Safe Harbor program, provides a legal mechanism for companies to transfer personal data from the EU to the United States. The FTC will enforce the Privacy Shield Framework.
Definition of "safe harbor". A legal provision that offers protection from penalties or liabilities. How to use "safe harbor" in a sentence. The company complied with the specific conditions of the safe harbor to avoid potential penalties.
What is a Safe Harbor? A Safe Harbor is a provision in law or regulation that affords protection from liability or penalty and reduces liability if certain conditions are met. Examples discussed in this article: Business Judgment Rule; The Digital Millennium Copyright Act of 1998 (USA) Transfer Pricing (India) Business Judgment Rule
