Insolvency is a huge risk in the construction industry. What first seems like the perfect project, can quickly become the perfect storm. Sometimes, the beneficiary of a construction project can all of a sudden be left with no contractual link to project stakeholders. This is where collateral warranties come in. In this video, we’re going to discuss what collateral warranties are and the purpose they serve.
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#QuantitySurveying #Construction #Infrastructure
0:00 Introduction
0:32 Definition
2:21 Contracts (Rights of Third Parties) Act 1999
3:33 Metroun
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