Management Contractor Collateral Warranty (To Funder)
Publisher one
Genie AIJurisdiction
England and WalesRelevant sectors
Type of legal document
🏠 Collateral warrantyBusiness activity
Create a collateral warrantyA collateral warranty is a separate agreement between the contractor and the employer that sets out additional terms and conditions relating to the works. The collateral warranty will often contain provisions relating to the quality of the works, the performance of the contractor, the liability of the contractor, and the indemnity of the employer. The collateral warranty will also contain a clause specifying that the agreement is collateral to the main contract and that it will remain in force even if the main contract is terminated.
The template includes provisions that specifically address the obligations and responsibilities of the management contractor towards the funder. It covers aspects such as project management, quality standards, compliance with legal and regulatory requirements, health and safety measures, and insurance requirements. The contractual terms may further outline the rights and remedies available to the funder in cases of non-compliance or breach of contract by the management contractor.
Additionally, the template may include clauses pertaining to indemnification, limitation of liability, termination rights, and dispute resolution procedures in case of any contractual disputes that may arise between the management contractor and the funder.
The purpose of this legal template is to establish a clear and comprehensive agreement that protects the interests of the funder and ensures that the management contractor fulfills their obligations in managing the project effectively and efficiently. By providing this collateral warranty, the funder can have greater confidence in the capabilities and commitments of the management contractor, thereby mitigating potential risks and facilitating a smoother project delivery process.
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