With over 25 years’ experience of this specialist practice area, the members of our Surety team are internationally recognised experts in performance bonds, guarantees and indemnities.
Assisted by colleagues in our Banking & Finance, Insolvency and Pensions teams, where appropriate, we advise on both contentious and non-contentious issues relevant to any surety.
Our non-contentious work includes:
- Drafting performance and retention bonds on large PFI projects.
- Reviewing and advising on the underlying building contracts.
- Drafting and advising on advance payment bonds and other on demand wordings.
- Drafting and advising on various types of pension bond wordings.
- Drafting other bespoke bonds and advising on proposed variations to standard bond wordings.
- Drafting and advising on indemnity wordings.
- Advising sureties concerning the insolvency and restructuring of large groups of construction companies.
Our contentious work covers:
- Disputes over the liability and quantum of bond claims.
- Breach of contract, damages and loss and expense claims.
- Claims for delay and disruption, extension of time and LADs.
- Disputes relating to defective works and design liability.
- Disputes over the wording of ‘on demand’ and ‘conditional’ bonds.
We regularly act for many household names, including ACE, Aviva, Euler Hermes, HCC, QBE and Zurich.