Contractor form of collateral warranty (with optional step-in clauses)—Contractor friendly
Contractor form of collateral warranty (with optional step-in clauses)—Contractor friendly

The following Construction guidance note provides comprehensive and up to date legal information covering:

  • Contractor form of collateral warranty (with optional step-in clauses)—Contractor friendly
  • Parties
  • WHEREAS

This Deed is made on [insert date] day of [insert month] 20[insert year]

Parties

  1. 1

  2. [insert name] (Company Number [insert number]) whose registered office is at [insert address] (the ‘Contractor’); [and]

  1. 2

    [insert name] (Company Number [insert number]) whose registered office is at [insert address] (the ‘Beneficiary’ which expression shall include successors in title and any permitted assignee)[; and OR .]

  1. 3

  2. [[insert name] (Company Number [insert number]) whose registered office is at [insert address] (the ‘Employer’).]

WHEREAS

  1. (A)

    [[insert name] (Company Number [insert number])whose registered office is at [insert address] (the ‘Employer’) OR The Employer] has entered into a building contract dated [insert date] with the Contractor (the ‘Building Contract’) relating to the [design and ]construction of certain works as defined under the Building Contract (the ‘Works’) in connection with the development known as [insert name] (the ‘Project’).

  2. (B)

    The Beneficiary has agreed to [provide finance in connection with OR purchase a freehold interest in OR enter into a lease for [insert details] at] the Project.

  3. (C)

    The Contractor has agreed to execute this Deed in favour of the Beneficiary.

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