Wealth and safety

Article Abstract:

The House of Lords has ruled in the case of British Telecommunications plc vs James Thomson and Sons (Engineers) Ltd that Thomson, a subcontractor, cannot be protected from paying compensation for damage allegedly caused to British Telecommunications property by the insurance provisions of the subcontract. The court ruled that a subcontractor cannot assume that just because an obligation exists for the employer to insure, this means that the subcontractor holds no responsibility for its negligent acts. This decision will be welcomed by both employers and their insurers.

Construction industry, Column, Subcontracting

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Shylock bond aims for 1 million pounds sterling of flesh

Article Abstract:

In an anonymous case, the Obligee, sister company of the management contractor for the project, lost a claim of over 1 million pounds sterling due to unclear wording in a performance bond provided by the Principal, trade contractor. The Obligee sort to claim 5% of the value of the bond due to breach of the contract by the Principal, who failed to finish on time. The judge believed that the bond was conditional and default was incapable of being remedied.

Contractors, Surety bonds

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