Collateral Warranty definition
Examples of Collateral Warranty in a sentence
Where stated in the Contract Particulars that the Supplier shall procure a Collateral Warranty from the Supplier in favour of a beneficiary, then within ten (10) Working Days of receiving a written request from the Contracting Authority to do so, the Supplier shall enter into a Collateral Warranty as a deed in favour of any beneficiary identified in the relevant part of the Contract Particulars.
Form of Supplier Collateral Warranty in favour of a Beneficiary and Form of Key Sub-Consultant Collateral Warranty in favour of a Beneficiary.
Where the value of subcontract services exceeds £100,000.00 (including VAT) or where requested by ONR, the Contractor shall, immediately on appointment of the subcontractor, execute in favour of ONR a warranty in terms mutatis mutandis of the Collateral Warranty appended at Appendix 1 (or such other form agreed by ONR).
The Contractor is required to deliver a copy of the relevant subcontract with each Collateral Warranty to ONR within sixty days of the ONR Call-Off Contract being awarded.