Collateral Warranties, PCGs & Performance Bonds
This new course will look at the traps to be aware of when signing collateral warranties, PCGs and offering bonds on construction and engineering projects. It will also review the effect of common clauses which funders often insist are incorporated into warranties, PCGs and bonds.
The course will review some of the standard amendments to funder requirements, so that you will be able to propose alternative drafting to some of the more contentious clauses. It will also look at the Third Party Rights Act and consider whether this is a more sensible option than providing a warranty.
This course is suitable for in house counsel, property lawyers and junior construction lawyers.
What You Will Learn
This course will cover the following:
- Principal clauses in a parent company guarantee and bond
- Different types of bond available in the UK marketplace
- The difference between an on demand instrument and a guarantee
- Key clauses in standard form and bespoke collateral warranties
- How to avoid funder traps in PCGs, bonds and warranties
- Third Party Rights Act
- What happens if the contractor/consultant does not provide a warranty, PCG or bond
2:00pm - 5:15pm
Please let us know if you wish to be notified when new dates are added for this programme