Meaning of “sequential liability” in the English Dictionary

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"sequential liability" in Business English

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sequential liabilitynoun [ U ]

uk us LAW

an official rule that a person or company does not pay money that they owe until they receive money that is owed to them for the same work, project, etc.:

Sequential liability protects businesses from their clients getting into trouble.

(Definition of “sequential liability” from the Cambridge Business English Dictionary © Cambridge University Press)