This work covers contract performance guarantees used to secure completion of obligations under a contract, typically in construction, infrastructure, or supply arrangements. A solicitor practises in this area by drafting, reviewing and negotiating performance bond and guarantee terms, coordinating with bond providers, and shaping the conditions for release or call of the bond. They advise on default triggers, claim procedures, and interactions with the employer, contractor, and surety, ensuring the client’s position is protected throughout procurement and execution.
What a solicitor handles in these matters
The solicitor handles the structure of the bond, the definition of performance milestones, the conditions for drawdown, and the process for releasing or calling the bond. They navigate the interplay with related security, warranties, and remedies in the contract, and manage interactions with the bond issuer, the employer, and the contractor to avoid or resolve disputes.