Financial Protection in the UK Building Industry: Bonds, Retentions and Guarantees

Financial Protection in the UK Building Industry provides comprehensive treatment of a complex aspect of construction management which is increasingly important in modern construction contracts. The term 'Financial Protection' refers to the various mechanisms by which funds are made available to ensure the due performance of a party's contractual obligations. This book is based on material written for a research project funded by the Reading Construction Forum. Financial Protection in the UK Building Industry looks at the legal and economic background to the problem of providing financial protection to clients to guard against poor performance and/or the insolvency of contractors, consultants and sub-contractors. The inclusion of practical guidance notes and summaries makes this essential reading for professionals and researchers. * provides in-depth analysis of financial protection measures * explores the ways in which financial protection can increase efficiency in the industry * financial protection in construction is beset with problems - this book points toward practical solutions