Property insurance (under higher tier property documents)
Above the relationship between client and its builder/contractor and design team are the relationships that allow the development projects to be commissioned and funded. The general contractual relationship between a developer, a funding institution, a tenant and the developer’s design team and main contractor can be seen diagramatically in Appendix 3 . Although this diagram may initially seem complicated, the relationships reflect normal “day-to-day” contractual relationships between the main players, and in reality they only reflect the network of contractual duties and liabilities owed in a typical UK building project, involving a funding institution, typically a bank or consortium of banks, or pension fund, insurance fund, equity fund, a property developer, and a tenant or tenants.
The rest of this document is only available to i-law.com online
If you are already a subscriber, please enter your details below to log in.