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ECIC’s collateral warranty checking service

Introducing ECIC’s collateral warranty checking service available as an additional benefit to ECIC policyholders.

ECIC policyholders can now benefit from a fast and efficient collateral warranty review service. Collateral warranties are commonly used where contractors, sub-contractors or consultants are involved. The primary party, often a developer, may use collateral warranties to limit their exposure to future allegations of liability.

The review service is undertaken by Clyde & Co, an experienced law firm with particular expertise in construction, providing advice on all manner of projects ranging from small domestic extensions to high profile commercial developments. Topics such as novation, copyright, number of assignments, sub-warranties, duty of care, deleterious materials, economic losses and inspection requirements can all be advised upon.

This new facility is available to ECIC policyholders who have the Professional Indemnity section (Section 3) of ECIC’s Combined Commercial policy in force. Once submitted, the warranty will be reviewed and a response will be issued detailing any observations that the contractor may wish to consider before signing any documents.

 

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