Bonds, guarantees, and other nice things – Webinar Recording

The third part of our ‘dull trilogy’ is now available to view on our YouTube channel.

We’ve talked about collateral warranties and novation agreements in the first two parts of the dull trilogy and to finish it off, this talk is about bonds, guarantees and other forms of security. It’s like Lord of the Rings – without the massive budget!

As well as knowing your way round the more traditional forms of security, such as performance bonds and parent company guarantees, there is an increasing move towards other forms of security in the current economic climate.  The use of escrow arrangements, project bank accounts and direct payments are all increasingly common.

In this webinar, Andrew Rush and Jessica Housego try to make this topic interesting, dealing with questions such as:

• What is the difference between an on-demand bond and conditional bond?
• Why does my bond refer to a surety not a guarantor?
• Why does the Statute of Frauds Act 1677 still apply to guarantees?
• What types of escrow arrangement can be put in place and how?
• Do Project Bank Accounts guarantee that I will get paid?

While naturally we try and make sure what we say in our webinars is accurate, it shouldn’t be relied upon on its own, and it is no substitute for legal advice. If you have a query, please contact us and we’d be happy to discuss it with you.