Construction analysis: The Commercial Court (Comm) applied a strict interpretation of the terms of an on-demand bond, which in particular prohibited the issuer from resisting payment pending further investigation or enquiry into the circumstances of the claim. This was despite the fact that the contractor on whose behalf the issuer had issued the bond had brought separate proceedings alleging that the employer/beneficiary owed them money for completing works under the contract.
To continue reading this news article, as well as thousands of others like it, sign in with ³ÉÈËÓ°Òô or register for a free trial
EXISTING USER? SIGN IN CONTINUE READING GET A QUOTE
To read the full news article, register for a free Lexis+ trial
**Trials are provided to all ³ÉÈËÓ°Òô content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these ³ÉÈËÓ°Òô services please email customer service via our online form. Free trials are only available to individuals based in the UK, Ireland and selected UK overseas territories and Caribbean countries. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
* denotes a required field
Letters of intent—constructionWhat is a letter of intent?Letters of intent are used in construction and engineering projects to allow the employer to mobilise a contractor before the employer is in a position to enter into the full building contact. The letter may only instruct the contractor to
Advance payment bondsAn advance payment bond is a particular form of performance bond, invariably written as an 'on demand' instrument. See Practice Notes: Performance bonds—construction projects and On demand performance bonds—construction projects.This Practice Note examines:•the nature of advance
Demolition for construction lawyersThis Practice Note looks at various factors that construction lawyers need to consider in relation to projects involving demolition works, including planning and Building Act 1984 (BA 1984) requirements, party wall issues, health and safety issues (including the
Parent company guarantees (PCGs) in constructionIn the construction industry, parent company guarantees (PCGs) are commonly given to the employer by the main contractor’s holding company to guarantee the performance of the contract by the subsidiary main contractor. This is a requirement in almost
0330 161 1234