The name's bond - adjudication bond
Series: Building ; 266(8205) 12 October 2001, 52-53(2)Publication details: 2001Subject(s):- ADJUDICATION BONDS
- DISPUTE RESOLUTION
- FACILITIES MANAGEMENT
- BUILT ENVIRONMENT-BUILDING CONTRACT FORMS
- MANAGEMENT-DISPUTE AVOIDANCE, MANAGEMENT AND RESOLUTION-DISPUTE MANAGEMENT AND RESOLUTION-ALTERNATIVE DISPUTE RESOLUTION-ADJUDICATION
- HOUSING GRANTS, CONSTRUCTION AND REGENERATION ACT 1996
- PRIVATE FINANCE INITIATIVE
- FACILITIES MANAGEMENT
- PFI
- PERFORMANCE BONDS
- BUILT ENVIRONMENT
| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS64852 (Browse shelf(Opens below)) | 1 | Available | 116003-1001 |
Examines the development of adjudication bonds in the PFI market as an alternative to on-demand bonds or conditional bonds. The new adjudication bond is in a conditional bond format but does not carry the risk of lengthy delay on claims. Explains the mechanics of adjudication bonds and argues that they do not have to be limited to the PFI market. However, warns that adjudication bonds have often been heavily negotiated on PFI projects, resulting in bespoke documents and that the acceptability of adjudication bonds relies on the immediate enforceability of Construction Act 1996 adjudications.