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Send Collateral Agreement Template via Fax

Send Collateral Agreement Template via Fax

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Aug 6th, 2022

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How to Send Collateral Agreement Template via Fax

4.7 out of 5

40 votes

Insolvency presents significant risks in the construction industry, where a seemingly ideal project can quickly turn problematic. A common issue arises when a project beneficiary loses their contractual link to stakeholders. Collateral warranties address this issue, providing a safeguard. This video tutorial explains what collateral warranties are and their purpose. A collateral warranty is defined by Hill Dickinson as a contract wherein a party involved in the construction work guarantees to a third-party beneficiary that it has fulfilled its obligations under a related building contract or appointment. The video will explore scenarios where collateral warranties might be utilized within a typical construction project involving clients, main contractors, and subcontractors.

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