OUR WORK

The nature of our work consisted of the following:

  • Reviewing the proposed collateral warranty and setting out to the client what the implications could be if the document was left in its original draft. We found that there were several clauses which were unfavourable to our client’s position and were unnecessary in the context.
  • Re-drafting the unfavourable clauses and providing the client with an explanation as to what the new clauses propose, and why this would assist them in optimising risk management.
  • Ensuring that the collateral warranty complies and is consistent with the RIBA professional appointment, and where this was not clear, making the necessary amendments.
  • Alerted our client to the exposure of additional risks and liabilities within the agreement.

THE RESULTS

The deed of collateral warranty has been considered a success all around, allowing our client to make the necessary warranties to the beneficiary, but also avoiding any unforeseen liabilities.

Our client went away feeling more than satisfied with the service provided, and also with additional knowledge on their position to take forward and use themselves in the future.

Our instruction optimised the clients risk management, and in doing so afforded them the comfort of knowing that they should not have any unexpected expenses or hidden liabilities in the future, something which is incredibly important to the construction sector.

If you are looking for advice or legal assistance while you consider signing a deed of collateral warranty (regardless of how time-pressing it is), please email wewillhelp@jonathanlea.net and we will get in touch to set up a 20-minute no-cost, no-obligation call with one of the fee earners here to understand your situation further.

https://www.jonathanlea.net/case_studies/assisting-an-architectural-business-optimise-risk-management-in-a-collateral-warranty/