Our Projects and Construction team is delighted to invite you to join the last of our 2024 breakfast seminars on core construction law issues and hot topics
Collateral warranties and third party rights in construction projects
It is common for construction projects to provide for the grant of collateral warranties and third party rights to third party funders, purchasers and tenants. The aim is to provide security to third parties who are not party to the main building contract, the key sub-contracts and professional appointments, but who have an interest in the construction project.
Warranties and third party rights effectively bridge the contractual gap and create a contractual link for the benefit of third parties who, otherwise, have no direct recourse.
In this seminar, Ed Tyler and Mariam Yassin will provide a refresher on typical arrangements in real estate development projects and, in addition, consider
- direct agreements – collateral warranties with enhanced substitution or 'step-in' rights
- the decision of the Supreme Court (July 2024) in Abbey Healthcare (Mill Hill) Ltd v Augusta 2008 LLP (formerly Simply Construct (UK) LLP): was the Court of Appeal wrong to find that the collateral warranty in this case was a "construction contract" for the purposes of the Housing Grants, Construction and Regeneration Act 1996?
- third party rights – where is the market now in terms of take up, 25 years after the Contract (Rights of Third Parties) Act 1999 received Royal Assent?
We very much hope you will join the seminar and share this invitation with your colleagues. Breakfast will be served from 8.30am with the seminar taking place from 9.00am-10.00am. Networking will continue following the seminar.
