When could you be liable for a drop in the market value of a development you have worked on? In uncertain economic times, you need to know your exposure. A Normal Story of Developing Homes A developer (Gubbins) appointed an engineering firm (Grimes) for a housing development. Grimes agreed to design a ...
If you have to compensate someone for injuries caused when part of your property falls onto them, you may need to pass that loss to others. This article looks at a recent case to discover who was liable. A family were seriously injured in June 2007 when a concrete shopfront and ...
This morning I ended up in a lively discussion over breakfast about who 'owned' the cat in the photo. Apparently, when we had first agreed to adopt this cat, I had said to middle son that she would be his cat. But I feed her, clear up after her, take her ...
How to Bonds Work? A bond is a contract which allows the recipient (the employer) to bring a claim against the bondsman (a bank or insurance company) if a 'trigger event' occurs during the construction project. They often expire at practical completion of the works and are limited to claims up ...
What is Retention? The retention is a separate 'pot' of money, which increases in line with the price paid to the contractor. It is generally 3-5% of the price. It is deducted from the money due to the contractor and held by the employer. What is it for? Many employers assume that the ...