Spoilt for choice
Language: English Series: Building ; 270(38) 23 September 2005, 78(1)Publication details: 2005Subject(s): Summary: The JCT's design and build form includes third-party rights schedules which are intended to replace collateral warranties. This article points out some potential problems for any developer intending to use the new schedules, in particular ensuring that sub-contractors and members of the project team are also prepared to use them, and that all relevant third parties are included. It also advises on some potential difficulties for those using collateral warranties, such as the obligation to give written notice of them to the contractor. It also points out that, at present, lenders, purchasers and tenants regard such warranties with favour, on the basis that they are tangible documents which can be assigned in the future.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L131246 (Browse shelf(Opens below)) | 1 | Available | 131246-1001 |
The JCT's design and build form includes third-party rights schedules which are intended to replace collateral warranties. This article points out some potential problems for any developer intending to use the new schedules, in particular ensuring that sub-contractors and members of the project team are also prepared to use them, and that all relevant third parties are included. It also advises on some potential difficulties for those using collateral warranties, such as the obligation to give written notice of them to the contractor. It also points out that, at present, lenders, purchasers and tenants regard such warranties with favour, on the basis that they are tangible documents which can be assigned in the future.