Latent Defect Insurance for Commercial Developments
Taking out Commercial Latent Defects Insurance from new build warranty providers alongside a Collateral Warranty makes a lot of commercial sense in the current climate. A Latent Defect is a defect that appears in a building after it has been completed and that is not discoverable at the time of its completion. Latent Defect Insurance […]
Escrows – Are they really required & is there an alternative?
What does escrow mean? Escrows are essentially a holding tank for money that insurance providers request to cover the value of any defects that may arise in the initial 2 years of cover. This money-holding arrangement is purely to guarantee there are sufficient funds to pay out for any defects in the event the developer/contractor […]
