Scottish legal firm Ledingham Chalmers’popular construction café opens again in Inverness later this month with performance bonds and parent company guarantees under the microscope.
The free event, held at the Scottish full service law firm’s offices in the city’s Beechwood Business Park on 20 November from 12.30pm to 2pm, will focus on what happens behind the scenes with these securities, and the unexpected consequences that can arise, particularly for contractors.
Inverness-based senior associate Roddy Cormack will cover:
- The extent to which the employer needs to formally prove loss depending on the type of agreement
- Guarantor banks’ sometimes surprising responses to claims
- What happens if the sum claimed is more than what is contractually due
Mr Cormack said: “Performance bonds and parent company guarantees are frequently a requirement of building contracts.
“They can be a useful part of the risk management toolkit for employers. At the same time, however, they can come with some hidden traps for contractors.”
Register online for the event (https://www.eventbrite.co.uk/e/ledingham-chalmers-construction-cafe-tickets-39474464185?aff=es2)
Source: Scottish Construction Now!
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