Ziggurat: the crumbling edifice of surety bonds – Practical Law: Construction Blog

Posted January 19th, 2018 in construction industry, contracts, insolvency, news, surety by tracey

‘I read the decision in Ziggurat with some incredulity. I hadn’t intended to trespass on Karen Spencer’s territory, and overall I’d agree with her conclusion that the amendments made to the ABI form seem to have confused rather than clarified matters. I’d also agree with Roddy Cormack’s comment that more radical surgery is needed if the employer wishes to secure earlier payment following the contractor’s insolvency. But I did want to offer some thoughts on what the decision tells us about wider issues in the surety bonding market.’

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Practical Law: Construction Blog, 17th January 2018

Source: constructionblog.practicallaw.com