Scheduled for Monday, May 21, 2012 - 12:30

In the current economic climate, where insolvency remains a constant concern, project security is of paramount importance. What can you do to protect your construction project?

Parent company guarantees are one of a plethora of security options available. They are provided either by the contractor's immediate parent or other holding company. If a contractor defaults, the parent is obliged to remedy the breach. If the contractor is no longer able to continue with the works, the parent is obliged to meet all of the contractor's obligations.

Our eminent speakers will discuss how parent company guarantees can be used in practice and consider what other means are available to minimise the effects of insolvency on a construction project.

• Principles – designing a package of project security appropriate to the nature and scale of risks
• Insolvency – how best to protect
yourself
• Bonds and guarantees
- Parent Company Guarantees
- Case law update
• Collateral warranties and third party rights
- Step-in rights
• Direct agreements
• Project bank accounts
• Insurance
- How does it interact with liability and
indemnity clauses in contracts?
• Retention