|The Jolly Contrarian’s Dictionary |
The snippy guide to financial services lingo.™
Proviso /prəˈvʌɪzəʊ/ (n.)
Along with the carve-in, carve-out, incluso and provuso, the proviso is one of the fundamental particles of legal construction. While it is undeniably ginger and lily-livered, at least it has the common decency to do something: it takes a stated general principle and weasels out of it.
- “The promisor herewith agrees to pay, unconditionally and in full, all amounts due, provided that on no account shall the promisor be liable for: … [here follows a catalogue of exceptions great and small the sum total of which will equal, or perhaps even exceed, the value of the commitment so generously given].”