Press Releases

November 2024

• 25th November 2024 – Navigating the Complexity of Surety Bonds: Why Precise Wording Matters in Construction Contracts

  Surety bonds are a curious mix of a legal deed and a quasi financial instrument. Whilst there are standard forms of bond wording, (known as the Association of British Insurers (“ABI”) Model Forms), lawyers acting for Employers typically amend them or replace them completely with their own form of words. Following the frequency and severity […]

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• 12th November 2024 – Surety Bonds: The Off-Balance Sheet Alternative to Bank Guarantees

  Surety bonds issued by the surety market (as opposed to the banks) are contingent liabilities and are also known as off balance sheet lending. Applying for a Performance Bond, Retention Bond or Advance Payment Bond is the equivalent of applying for a term loan with a bank or alternative finance provider. Unlike Banks, Sureties typically […]

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• 5th November 2024 – Navigating Succession Planning: Essential Strategies for Construction SMEs

  Succession planning for owner managed businesses is often neglected until the realities of ageing bite and we wake up one day and realise it is time to start heading for the exit. Construction SMEs have several options but fundamentally they can be abbreviated to: 1. Trade sale or merger; 2. Management Buy In/Buy Out; 3. […]

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