It has been said (although not by me) that one aims for contracts is to take account of eventualities that can be foreseen, and to ensure that the intentions of the parties are expressed clearly, with certainty, and that the allocation of risks is as intended. But what is the
I hate to make assumptions or to speculate wildly, but… I have a sneaking suspicion that you don’t always understand your contracts. My hunch? When I wrote this post in 2013, my evidence was largely anecdotal. It came from: lawyers’ websites which state that ‘clients do not understand exactly what
A construction project can be divided into distinct phases. This blog reviews the key decision crunchpoints (see also my slideshare stages of a construction project). From the Start The project begins when a client considers she has a business need which may be met by developing new premises. Action: Investigate
In 2013, you couldn’t fail to be aware of the debate going on in the media as a result of the announcement from Carillion that it was going to extend its payment terms for subcontractors to 120 days. Buy why does it matter so much? Cashflow is king As far
How can you make sure your terms and conditions (T&C) get into your contracts? Sometimes you’ll need to win the battle of the forms (read more), but a better approach is to get your contract/proposal/T&C signed in person or accepted by email. A lazy process? When you agree with another
There are five essentials for a contract: offer acceptance intention to create a contract consideration (the price or a promise) and certain & complete terms. Whether any specific agreement, document, text or voice-message meets all those requirements is a matter of fact to be determined by a court. Was it
Being the recipient of a bond is a little like being given a betting slip. The bond, of which you are now a proud owner, promises much. It may even be the key to huge wealth. Or, in the end, it may prove to be a worthless piece of paper.
One definition of insanity (attributed to, but never said by, Albert Einstein) is ‘doing the same thing over and over again and expecting different results.‘ This is how it feels to work with collateral warranties. If you don’t know what a collateral warranty is then head to what is a
Warranties, in construction, are unusual documents. The two parties (the companies who sign the warranty) rarely meet and have little communication with and no control over each other. A collateral warranty is: an agreement between a provider of goods, works or services (the warrantor) and a tenant, purchaser or funder
This morning I ended up in a lively discussion over breakfast about who ‘owned’ Pooka, the cat in the photo. Our discussion was frivolous. But what about plant, materials, equipment or goods on a construction site? Then the debate really does matter. Who owns construction materials? There are two types
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