Generally a contract of guarantee ends when the guaranteed obligation has been fulfilled1. Under many building contracts, however, the contractor's obligation to complete the work is not fulfilled until: (1) the work is complete in fact; and (2) the architect or engineer has issued a certificate2 that the work has been completed to his satisfaction. A surety is not discharged where the works have only been substantially completed
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The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to insurers: the Conduct of Business Sourcebook (COBS) and the Insurance Conduct of Business Sourcebook (ICOBS). This Practice Note considers how these
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The Standard Conditions of Sale (SCS), currently in their 5th edition (2018 revision), are a set of standard conditions which are commonly incorporated into contracts for the sale of residential property. The Standard Commercial Property Conditions (Third Edition—2018 Revision) (SCPC) are used for
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