Payment Protection for Off-Site Construction
8 December, 2020
A short article by law firm Charles Russell Speechleys describing alternative methods of protecting advanced payments required by off-site manufacturers
Modern Methods of Building
As the growth in off-site manufacturing and prefabrication continues, most Contractors and Employers are finding themselves faced with the requirement to make advanced payments to specialists for these products. Standard forms of contract in use in the construction industry mostly contemplate payment for work done being made in stages or regular intervals but in arrears of the work being completed on site, or goods and components being delivered to site. So what methods are available to secure and protect advance payments made by contracting parties against the risks of the specialist, or indeed the Contractor, becoming insolvent during or prior to manufacture of those products? Read Charles Russell Speechlys article from October 2020 to find out more.
Modular construction_ addressing deposit payments in building contracts _ Charles Russell Speechlys.pdf ( 182 KB )