A Collateral Warranty is an agreement between a consultant or contractor involved in the design and/or construction of a development and a third party, the beneficiary, who acquires an interest in that development. The beneficiary may be a purchaser or tenant of all or a part of the development or a bank or other company providing finance for the development.
The terms of a collateral warranty agreement follow a familiar pattern. Our form, for use by an architect or other consultant who is required to give the warranty, is fairly balanced and contains the key terms usually found in these documents.
This document has 9 clauses over 6 pages, plus some explanatory notes and a cover page. It is a fully editable MS Word file.
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