EVENT: Big choice in rotten apples: to pay a settlement sum or to rectify defective residential construction works

EVENT: Big choice in rotten apples: to pay a settlement sum or to rectify defective residential construction works

June 28, 2017

When faced with a claim for latent defects in residential construction work, the parties will often be confronted with a difficult conundrum: to agree for the builder to pay a settlement sum, or in the alternative have the builder perform the required rectification works. 

Given the builder will have a familiarity with the works, and will wish to avoid paying another builder’s profit and margin, rectification may seem like an attractive option.  However, in some circumstances, performing rectification works will recommence the limitation period for breaches of statutory warranties, or attract a new statutory warranty period, in which case the builder may be drawn into another cycle of rectification and ongoing liability many years after the project is finished. 

This seminar will provide insights for both property owners and builders into how to handle residential defects claims, and in particular, when it is better to rectify, or in the alternative, pay a settlement sum to have a latent defect claim resolved.

Event details:

  • Organiser- Holding Redlich
  • Date- Tuesday July 25
  • Time- 12:45pm

Register here

 

 

 

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