Course
An Overview of Bonds/Guarantees in the Construction Contracts
Decision Making and Leadership
$63.00
Group Bookings
Summary
As the use of bonds and guarantees is embedded in construction contract. This course provides essential knowledge about the use of bonds and guarantees, the difference between them, their different types, and the contractual/legal framework governing them.
Overview
The use of bonds and guarantees is embedded in construction contracts to protect the interests of the project’s stakeholders. It is essential for professionals in the construction industry to have a thorough understanding of their use and the contractual/legal viewpoint on them, to ensure that projects are completed successfully whilst maintaining the bond/guarantee risks.
This course covers a range of topics related to bonds and guarantees, including their definitions, differences, and types. It also explains the legal viewpoint of bonds and guarantees under both the Common and Civil Law systems, their application in construction industry, and under FIDIC contracts.
Attendees are expected to acquire knowledge on the use of bonds and guarantees in the construction market, the issues arising from the call of bonds and guarantees, and the contractual/legal perspective on calling bonds and guarantees, allowing them to be better equipped to manage risk and protect their interests in construction projects.
This course is 1 of 4 topic areas within ‘Contract risks on Major Construction Projects’
Event Details
Next Available Dates
27 September 2023
Structure
- Course Delivery: 1 Live Webinar, lasting 1 hour from 7-8:15pm GST and 4-5:15pm GMT.
- Following purchase of a CIOB Academy course the team will email delegates registration links and additional information, 1 week prior to the course start date.
- Accessing the live webinar sessions during the course require delegates to register using teams
Accordion Closed
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Objectives
By the end of the course you will be able to:
- Understand the use of bonds and guarantees
- Understand their different types
- Understand their benefits and risks
- Understand the contractual/legal framework that governs their use
Contents
The course will cover:
- ‘What are bonds and guarantees’
- The difference between bonds and guarantees
- Types of bonds and guarantees
- Bonds and guarantees under FIDIC
Common and Civil Law view Â
Suitability
Contract Administrators, Engineers, Quantity Surveyors, Commercial Leads and Consultants.
Assessment
No assessment
Other currencies
Course Leader
Lead Tutors
Quantum Global Solutions.
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Stephen Board, Director UAE. Along with an MBA in Construction and Real Estate, Stephen holds charterships as a Quantity Surveyor, Construction Manager and Professional Manager. He has a deep understanding of, and high competency in the differing commercial, financial and technical constraints throughout the life cycle of major infrastructure, oil and gas and property projects from bidding for work, through to delivery, variations, claims and final accounts. Stephen is an outstanding professional with over 18 years’ international experience in engineering consultancy, contracting and subcontracting organisations. Stephen leads Quantum’s Abu Dhabi office where his ability, work ethic and professional attitude has allowed him to rapidly develop from a Senior Consultant, through to Associate Director and now Director. In his spare time, Stephen is the Chairman of the Lighthouse Club Abu Dhabi and Vice Chair for the Chartered Institute of Building (CIOB) Abu Dhabi Hub, where he advocates for a professional construction industry and enjoys influencing regional construction policy. |
Michael Davies, Country Director UAE. Holds a BSc (Hons) in Building Surveying, LLM in Construction Law and Arbitration and is a member of Royal Institution of Chartered Surveyors (RICS), Chartered Institute of Arbitrators (CIArb) and Chartered Association of Building Engineers (CABE). With over 17 years’ experience in commercial and claims management across the UK, Middle East and Far East, earlier this year Michael was appointed as Quantum Global Solutions, Country Director UAE and is based in the company’s Dubai office. In his career he has prepared numerous claims for extensions of time, disruption, acceleration, quantum for prolongation, variation costs, loss and expense for major clients and has acted as party appointed expert for matters of quantum in arbitration proceedings in the Middle East. Michael has sectoral experience across a multitude of sectors including oil and gas, infrastructure, schools, malls, metro, civil construction, industrial, solar and wind energy projects and regularly supports construction industry events in the region. |
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