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.
- Organiser- Holding Redlich
- Date- Tuesday July 25
- Time- 12:45pm
Metis builds capacity for professionals to:
- understand, manage, and negotiate fair and profitable contracts
- understanding complex infrastructure finance arrangements
- strategically planning impactful cities
- understand and utlise business finance
Our clients include:
AECOM, Jacobs, WSP, GHD, Laing O’Rourke, Fulton Hogan, Vision Australia, NSW Health Infrastructure, The City of Parramatta, The Department of Infrastructure and Regional Development, SMEC, Norman Disney and Young. Learn more.
Our programs are:
- Contract Law Fundamentals
- Effective Contract Management
- Commercial Negotiation Essentials
- Strategic Planning for Impact
- Business Finance for Managers
- Infrastructure Finance Masterclass
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