Short answer. No. Article 2235 of the Civil Code declares that any stipulation waiving exemplary damages in advance is null and void. The clause in your contract has no legal effect — you retain the right to claim exemplary damages if you can prove the legal grounds for them.
What the law says
A stipulation whereby exemplary damages are renounced in advance shall be null and void.
Civil Code, Article 2235 — A Stipulation Waiving Exemplary Damages in Advance Is Void. Read the full provision →
The rule: advance waivers of exemplary damages are void
Article 2235 of the Civil Code is brief and absolute: a contract clause that renounces exemplary damages before any wrong has occurred is null and void. No matter how clearly the waiver is worded, no matter how voluntarily it was signed, it cannot be enforced. The other party cannot invoke it in court to block your claim. This is one of several instances where the Civil Code overrides freedom of contract because the public interest in deterring wanton, fraudulent, or reckless conduct outweighs the parties' agreement.
What exemplary damages are and why you cannot waive them in advance
Exemplary damages — also called corrective or punitive damages — are awarded not to compensate a specific loss but to set an example and deter others from repeating particularly reprehensible conduct. They are imposed in addition to compensatory, moral, or other damages, and only when the defendant acted in a wanton, fraudulent, reckless, oppressive, or malevolent manner. Because the purpose is deterrence, allowing parties to contract away the risk in advance would neutralize that deterrent entirely — a company that buys immunity from exemplary damages in its standard form contracts faces no extra cost for acting outrageously.
The waiver clause does not drag other remedies down with it
Because Article 2235 voids only the specific waiver of exemplary damages, the rest of the contract remains intact. If the problematic clause appears alongside valid limitations on actual damages or other agreed remedies, those other clauses are not automatically affected. The void clause is simply severed and disregarded. You may still be bound by other terms of the contract — the advance waiver of exemplary damages just cannot be used against you.
When exemplary damages can still be claimed
Winning exemplary damages requires more than proving a breach of contract. You must establish that the other party's conduct was wanton, fraudulent, malevolent, reckless, or oppressive. Ordinary non-performance — missing a deadline, delivering defective goods — usually does not rise to that level. The conduct must carry a moral dimension beyond mere failure to comply. If you are thinking of pursuing this, gathering evidence of how the other party behaved, not just that they breached, is essential to the claim.